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Looking for a full time trader trading a mechanical system

  • #61
  • Feb 9, 2012 8:04am Feb 9, 2012 8:04am
Quoting johnny2pips
Sounds like a good goal. Hell 20 pips a day compounded will make you rich in a few years depending on starting capital.
400k and counting
  • #62
  • Feb 9, 2012 8:07am Feb 9, 2012 8:07am
Quoting johnny2pips
Are there any full time traders here trading 100% mechanical systems. By mechanical I mean you see something happen via indicators and take a trade. Where discretion is not part of the equation.

I've always been told if you want to learn learn form those who are already successful in the business.

I'm really struggling with trading this year and last. It seems like I can only go wrong or when trades go good all the small losses overtake the larger wins. You'd think if someone can be consistently wrong with a little work and perseverance...
it took me 5yrs and blowing 10 accounts before i started making money from forex, keep working at it, if after 5yrs then i say call it quits, that was my goal 5yrs because i didnt wanted to waste any more money
  • #63
  • Feb 9, 2012 8:35am Feb 9, 2012 8:35am
Quoting PoundTrader
it took me 5yrs and blowing 10 accounts before i started making money from forex, keep working at it, if after 5yrs then i say call it quits, that was my goal 5yrs because i didnt wanted to waste any more money
WOW that is a lot of money (at least to me). Congratulations on your success and here's to you continuing to have success from here on out.

Given the 5 year plan I'll start counting 2012 as the first year, as this year is the first year I've actually taken trading seriously. Thanks for the advise and encouragement. Just knowing that another "ordinary somebody" can do it is enough encouragement for a life time.
  • #64
  • Feb 9, 2012 11:54am Feb 9, 2012 11:54am
Quoting johnny2pips
Maybe it would be a good idea to learn what news is important and what isn't. Is there a site/thread/ect I could find a list of news not to trade? I know some news doesn't effect the market much while others have big impact.
its not that much about what news to trade or not to trade, if you re intraday trader you should be flat during almost every news...

and when there is FOMC, ECB, draghi, bernanke, rates,important summits, NFP its better not to trade during that days, you will ussually have tight ranging moves or sharp EKG moves and they will shake you out

i meant by fundamentals sth like how market works, what are the openings, how it moves during them, what is the market focus, correlated markets, how they move now, what is trend and why is he like that and much more things which you can get only after time.

if you want to know how to begin i would suggest u to start demo account with oanda and start up their news feed - they have very good news feed and read the stuff while watching the market and how price reacted to some political coments etc, then also try to read some analysis from brokers or whatever, they ussually have there some fundamental things like whats going on what is the focus and what can happen etc....when u will be doing so for few months u will get better grasp of it
  • #65
  • Feb 9, 2012 12:08pm Feb 9, 2012 12:08pm
You are in a tough position. I know how hard it is to want something so bad and not be able to get there. Funny thing is, FX does not care how hard you work. In fact, the harder you work, the more you want it, the more ellusive success becomes. Please click on my name and read the comments I have posted in my profile. It is a great place to start.

Regards,
  • #66
  • Feb 9, 2012 12:47pm Feb 9, 2012 12:47pm
Quoting johnny2pips
Maybe this is beginners luck. Here's a trade I just took. Price shot up 30 pips within one minute of my entry. Green and red lines are where price has short term pivoted multiple times. Green being the upper half and red the lower. I did not use those lines for entry just consideration of where price might stall.
Stop trade............ ( better now than later with big loses)
At this time, donīt trade the news, only Pros can do that.
Read and think....... ( try understand what the market really is.)
Many traders here give a "possible line to follow". Read all this post again.
Think again to try see your own system..
Read more about that
Think again - See the market.
Open paper trade and try.
Make a simple plans - write down in paper (when, how, trade)
Open a simple excel and register all trades.
Evaluate your result not for the money, for how you can follow yours own rules)
..." If donīt know about your self and you donīt know about your enemy , you loses 100% of the battles ..." (art of war)
  • #67
  • Oct 20, 2022 10:26pm Oct 20, 2022 10:26pm
Quoting johnny2pips
Are there any full time traders here trading 100% mechanical systems. By mechanical I mean you see something happen via indicators and take a trade. Where discretion is not part of the equation. I've always been told if you want to learn learn form those who are already successful in the business. I'm really struggling with trading this year and last. It seems like I can only go wrong or when trades go good all the small losses overtake the larger wins. You'd think if someone can be consistently wrong with a little work and perseverance the opposite...
I can trade for you, we'll have to discuss your system though.
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Meditate -> Workout -> Good Food = Good Life!
  • #68
  • Last Post: Oct 21, 2022 3:40pm Oct 21, 2022 3:40pm
Quoting newyear498
100% mechanical is your issue IMHO, first if those trader who have 100% mechanical exist they arent on this form and just got a robots doing it for them most likely and no one likes to help others.. thats my story on FF so I don't care to help anyone either since thats what we was taught
hmm.. I am here in this forum and I exist

but I can't say for how long I will be profitable. Now I am TOP1 in FF (at least by profit %, ok one of my accounts - let's be honest ):

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I tell a lot of times... diversify. Have at least 10 accounts running in parallel with n strategies. Here I described my trading results for all my accounts portfolio. What I can say... ok at this moment it is about 30% yearly profits... some accounts now performed extremely well..

but you can see I have several wipeouts too.. there fore will repeat again my mantra: do not rely on 1 particular strategy/EA.. and that "1 particular" for manual traders means "you". Or read again - "Do not rely on me". yep. 1 entity is not enough for portfolio. If you trade manual you are 1 entity. In longterm there will be periods when that 1 entity (what in manual trading is YOU) - "wont work anymore".. like it is with EAs... because we have fluctuations of any pattern. and therefore some periods something seems to work and then maybe even 1 year wont work that 1 particular setup/entity.

Therefore if you are a manual trader - split your capital in 10 parts, trade 1 part yourself but 9 parts copy signals from others. This is how you can diversify - in case "others" do not use dangerous martingale/averaging without SL. SL is must have.

If you can code EAs... well... code them a lot. This particular account in my signature runs 51 EAs... it is 1 EA but 51 different setups. yea.. some work needs to be done. not easy money.
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