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We Are The 1%

  • #21
  • Dec 11, 2011 10:10pm Dec 11, 2011 10:10pm
I make consistent profits and I do share my system for free - not to be generous though, more to keep myself in check. Like a schoolteacher who really needs to know his shit, otherwise he will just look silly. I dont feel I am sarificing anything, since very few people have the patience and discipline needed to follow a system like mine.
si hoc legere scis nimium eruditionis habes
  • #22
  • Dec 11, 2011 10:58pm Dec 11, 2011 10:58pm
Risk management of at least 1:2 works wonders if you can find good set-ups. I trade channels with some type of momentum to confirm. I don't really have a set system other then risk and money management. I don't think there's any reason as a trader to keep your trading style or system a secret & no excuse to sell your system if it's truly profitable. That's just greed in my opinion.
  • #23
  • Dec 11, 2011 11:29pm Dec 11, 2011 11:29pm
Quoting PoundTrader
do you realy think all those millionaire and billionaire trader share, that will take away there edge
Why would it take away their edge?

How long do you think it would take one of those "billionaire traders" to explain their "system" to a newbie?

Do you think the newbie would be able to simply generate the same %ROE as the billionaire from day one?
  • #24
  • Dec 11, 2011 11:36pm Dec 11, 2011 11:36pm
Quoting PoundTrader
we all know 99% of forex traders fail, how would you feel if the 99% ask you to share your system so they can join the 1%?
How long did it take for you to develop that system? I am asking in terms from teh time you started to think of developing a system to the time you developed one.
  • #25
  • Dec 11, 2011 11:37pm Dec 11, 2011 11:37pm
Quoting RBlackburn
Risk management of at least 1:2 works wonders if you can find good set-ups. I trade channels with some type of momentum to confirm. I don't really have a set system other then risk and money management. I don't think there's any reason as a trader to keep your trading style or system a secret & no excuse to sell your system if it's truly profitable. That's just greed in my opinion.
I think that is very true about the risk management. I am currently testing a really really simple system on forex tester. My results are pretty good so far because I have a fixed 3:1 RR.
  • #26
  • Dec 11, 2011 11:45pm Dec 11, 2011 11:45pm
Quoting PoundTrader
we 1% don't share nothing
i do not know what approach you take to the markets but from my experience, embracing that we cannot accurately forecast, and that we have to deal with the unpredictability of price is the secret.


the market is not a puzzle that once you figure it out it becomes an ATM

it is simple

unpredictable
not random

work with that
AVT INVENIAM VIAM AVT FACIAM
  • #27
  • Dec 11, 2011 11:47pm Dec 11, 2011 11:47pm
Quoting misterboy
How long did it take for you to develop that system? I am asking in terms from teh time you started to think of developing a system to the time you developed one.
5yrs
  • #28
  • Dec 11, 2011 11:47pm Dec 11, 2011 11:47pm
You are right that good traders can see naked chart and know where is going to go, but that understanding of market you get with screen time when your brain I seeing direction without additional tools. Also there is thousand ways to catch fish or skin a cat. Only thing that prevent traders from being profitable is them selves.

Lot's of times I open 4HR chart or Daily chart, i take a look, I immediately see, what next I should do and what are the chances, just with trading 4HR charts and checking the Daily.

You can use what ever indicator you wan't or what ever system you want, but you are the only one that decide to act and participate, emotions are our biggest enemy in trading.
I've learned that from my experience, I learn forex 2 years, I've traded different system on demo, I make money on demo and everything is ok i make lots of profits, but when I put real money i'm to emotional and over-trade, and over-trading is worst for every trader. The less I trade the more I make.
IMPATIENCE is bad thing.

If anyone wan't to become 1 % or in 5 %, he should practice emotional detachment and discipline, following your plan, and adapt be versatile.

My conclusion is after 2 years studying different systems, trading plans, strategies, I need to prevent emotions to interrupt, If you can overwhelm your self, than you can overwhelm everything.

In everything we do if we want to achieve top results, we first need to beat our selves.

Regards,

P.S. I will join the community of profitable traders, I never give up. Same should be done by all traders, you don't allow your self to be defeated and quit. Always give one more try.
  • #29
  • Dec 11, 2011 11:53pm Dec 11, 2011 11:53pm
BTW Guys im just having some fun with the occupy wall street movement that going on here in the u.s., i don't think they understand the 1% are the ones that own companies and provide jobs and produce more millionaires that add to the 1%. j
  • #30
  • Dec 12, 2011 12:00am Dec 12, 2011 12:00am
Quoting TheDivine
You are right that good traders can see naked chart and know where is going to go, but that understanding of market you get with screen time when your brain I seeing direction without additional tools. Also there is thousand ways to catch fish or skin a cat. Only thing that prevent traders from being profitable is them selves.

Lot's of times I open 4HR chart or Daily chart, i take a look, I immediately see, what next I should do and what are the chances, just with trading 4HR charts and checking the Daily.

You can use what ever indicator you wan't...
  • #31
  • Dec 12, 2011 12:23am Dec 12, 2011 12:23am
Quoting alkemi
Maybe we should protest the CFTC and NFA and demand that they
confiscate profits from the profitable 1% of traders and share them
with the losing 99%. Who the hell do these elitist profitable traders
think they are?? After all, we are entitled to our fair share of the
profits irregardless of whether we traded successfully for them or not!!
if it wasnt for the 99% of the losers providing liquidity, the 1% wouldn't be able to be profitable. the 99% deserve to share in the profits for making it possible to be in the 1%
  • #32
  • Dec 12, 2011 12:26am Dec 12, 2011 12:26am
Despite the small sample size of the poll in relation to the total number of traders in existence, I find it rather ironic that 85% have said they are the 1%.
  • #33
  • Dec 12, 2011 12:32am Dec 12, 2011 12:32am
Quoting 2+2=4ex
Despite the small sample size of the poll in relation to the total number of traders in existence, I find it rather ironic that 85% have said they are the 1%.
the ppl in the 99% haven't found FF yet
  • #34
  • Dec 12, 2011 12:37am Dec 12, 2011 12:37am
Quoting 2+2=4ex
Despite the small sample size of the poll in relation to the total number of traders in existence, I find it rather ironic that 85% have said they are the 1%.
It tells me that there are 2 honest people out of the 14 who voted.
  • #35
  • Dec 12, 2011 12:44am Dec 12, 2011 12:44am
Quoting 2+2=4ex
Despite the small sample size of the poll in relation to the total number of traders in existence, I find it rather ironic that 85% have said they are the 1%.
  • #36
  • Dec 12, 2011 12:49am Dec 12, 2011 12:49am
Quoting flyingiguana
if it wasnt for the 99% of the losers providing liquidity, the 1% wouldn't be able to be profitable. the 99% deserve to share in the profits for making it possible to be in the 1%
why they took the same risk as me I WON THEY LOST, ALL IS FAIR
  • #37
  • Dec 12, 2011 12:50am Dec 12, 2011 12:50am
Quoting flyingiguana
the ppl in the 99% haven't found FF yet
  • #38
  • Dec 12, 2011 12:54am Dec 12, 2011 12:54am
Quoting PoundTrader
why they took the same risk as me I WON THEY LOST, ALL IS FAIR
yes, but if they all went away you wouldn't have any liquidity in the market. those 99% are the biggest reason why the 1% even exist. without them, you would be nothing.

in addition to the trading gods, i also worship those 99% who make trading success possible.
  • #39
  • Dec 12, 2011 2:14am Dec 12, 2011 2:14am
Quoting flyingiguana
yes, but if they all went away you wouldn't have any liquidity in the market. those 99% are the biggest reason why the 1% even exist. without them, you would be nothing.

in addition to the trading gods, i also worship those 99% who make trading success possible.
so be it, if they can't win why keep taking the risk, so if me in you made a $100 bet on a team to win, and my team won you are saying i should give some back because if it wans't because of you i never would won that money, nobody force you to make that bet thats part of taking that risk, some one has to win someone has to lose
  • #40
  • Dec 12, 2011 4:17am Dec 12, 2011 4:17am
Quoting flyingiguana
yes, but if they all went away you wouldn't have any liquidity in the market. those 99% are the biggest reason why the 1% even exist. without them, you would be nothing.

in addition to the trading gods, i also worship those 99% who make trading success possible.
What about the big banks, commercials, central banks, fund managers, etc. Where do they fit into your 1%/99% model? Are you saying that 99% of these guys lose? If not, then given that small retailers comprise less than 10% of the spot market, where do the heavyweights get their liquidity from?
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