Are you a consistently profitable trader? | Page 19 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone consistently profitable using Expert Advisors? 45 replies

How to be consistently profitable... but I bet you won't do it 65 replies

How long did it take to become consistently profitable? 117 replies

Your consistently profitable trading style 37 replies

Consistently Profitable Signal Journal: Simple, Low Maintenance Gains 0 replies

Attachments: Are you a consistently profitable trader?
Exit Attachments

Are you a consistently profitable trader?

  • #361
  • Apr 27, 2012 4:46pm Apr 27, 2012 4:46pm
Quoting Bigpigtrader
Oh and I would recommend a great book 'Techniques of tape reading' that book really gave me the confidence to enter trades before the move as long as your risk is minimal.

I like your motto too ' trade what you see not what you believe'. I would have saved a lot of losses in the early days if I had stuck to that. Lol!!
Thanks for the book recommendation. Will check it out!

It would have saved me lots too .

Take care,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #362
  • Apr 27, 2012 4:47pm Apr 27, 2012 4:47pm
Good talking to you.
  • #363
  • Edited 6:55pm Apr 27, 2012 4:54pm | Edited 6:55pm
Quoting Bigpigtrader
Good talking to you.
Good talking to you too.

Just glossed the Table of Contents on Amazon....very appetizing. Lots of heart-mind goodies. Will get it!

EDIT: Vadym in the book has as his motto: Trade what you see, not what you think. That is so real!!! Can't tell you how many times I have had to pinch myself or close my eyes, shake my head, and just trade what I see.

By the way, how does it feel to have finally made it to the land of profitability from trading? Are there words to describe it after 5 years and who knows how much money?

Thanks,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #364
  • Apr 27, 2012 5:07pm Apr 27, 2012 5:07pm
Excitement and relief!

I gave up several times over the years and was devastated. When these times came I felt like my whole life was a failure.
You do have to have a crazy amount of passion for trading to make it through the dark times.

I still don't really feel like a have conquered it and doubt I ever will. It's a strange sensation as with other occupations it's easy to reach a measurable level I.e barrister. Doctor.

That's why the equity curve stuff is so good it can really prove it to yourself.
  • #365
  • Edited 6:53pm Apr 27, 2012 5:13pm | Edited 6:53pm
Quoting Bigpigtrader
Excitement and relief!

I gave up several times over the years and was devastated. When these times came I felt like my whole life was a failure.
You do have to have a crazy amount of passion for trading to make it through the dark times.

I still don't really feel like a have conquered it and doubt I ever will. It's a strange sensation as with other occupations it's easy to reach a measurable level I.e barrister. Doctor.

That's why the equity curve stuff is so good it can really prove it to yourself.
Excitement and relief!

I am sure.

Feeling so discouraged and giving up along the way is just the way it can be sometimes.


When these times came I felt like my whole life was a failure.

The fact that you kept going proved otherwise .


You do have to have a crazy amount of passion for trading to make it through the dark times.

Yes you do . My brother may think I'm crazy and I should do something more "sensible" with my life. He just doesn't get it. Oh well....


I still don't really feel like I have conquered it and doubt I ever will.

Maybe never "it", but as long as you have conquered you, you're good to go. That's the secret for long-term success I think.

Sooooo happy for you.


FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #366
  • Apr 29, 2012 3:08am Apr 29, 2012 3:08am
Tomorrow after midnight I plan to post the month-end poll results. Then we'll keep going in May.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #367
  • Apr 30, 2012 2:46am Apr 30, 2012 2:46am
Yes i am, i'm making about 15, 20% per month actually, but i'm refining my strategy to gain a little bit more.
  • #368
  • Apr 30, 2012 8:38am Apr 30, 2012 8:38am
Quoting Heretic
Yes i am, i'm making about 15, 20% per month actually, but i'm refining my strategy to gain a little bit more.
. That's great Heretic. Keep refining to optimize your strategy then get the most out of it.

Be careful not to over-tweak as you might start losing efficiency.

Thanks for posting.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #369
  • Edited 11:18pm Apr 30, 2012 11:07pm | Edited 11:18pm
Quoting FX4Newbies
How the poll results now (posted in red) compared to March 31st...(the first 3 days of the poll):

QUESTION: By the definition given, are you a consistently profitable trader?

[b]Here is what is meant by consistently profitable:

Assuming there are no additional deposits or withdrawals, your [color=Navy]LIVE account ending balance showed an increase at the end of the month from the previous month, and this was done for at least 3 consecutive months in a calendar year. Three consecutive...
First, the previous results. The results in red were through April 15, 2012.

Yes, I am currently. ................................... .........http://www.forexfactory.com/clear.gif39 51.32%............................. .66 43.14%

No, I have never been. ................................... .....12 15.79%...............................36 23.53%

Yes, I have been, but not currently..........................2 2.63% ................................12 7.84%
No, but I have had a profitable month. ....................15 19.74%............................. .19 12.42%

I am still trading in a demo account. ........................ 8 10.53%..............................20 13.07%

Total Voters: ................................... ...................76................................... ....153


Poll results 'till the end of April are in!!!

Yes, I am currently. ..............................77 40.74%

No, I have never been. ..........................43 22.75%

Yes, I have been, but not currently..........17 8.99%
No, but I have had a profitable month. .....27 14.29%

I am still trading in a demo account. ........25 13.23%

Total Voters:......................................189


Seems like the fourth group of traders showed the largest percent increase since April 15th! They're on their way.

I'm sure a few more "conclusions" can be drawn.

And the poll keeps on rolling...

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #370
  • Edited May 2, 2012 12:21am May 1, 2012 12:26am | Edited May 2, 2012 12:21am
If I Were A Dealer by FX4...

If I were a dealer, I'd be curious to know
Were traders into MACD? or Ichimoku Kinko Hyo?
Don't know which one for sure, and really wouldn't care
As long as I could see that their orders were really there

I might attend some webinars or visit rooms and forums
Gotta keep up with my competition 'cause the game is Zero-Sum
To see what's new, what's hot...or not; what folks are looking to do
Works for me so I can see what they're cooking for me too

If I were a dealer, I'd want traders to buy as the market was going to sell
And sell when she was ready to buy; and hope they do that well
So...I'd like them to think long for longer before the market shorts in haste
To catch them by surprise so the market they would chase

I'd also like to know what maybe they were thinking
So I'd look into my "order book" to see what might be pending
I'd want to go hunting for stops to pay my dealer cost
And cover anything of mine that could end up being lost

If I were a dealer, I'd want traders to know
The only way they'll beat me is to trade when Market says so
So dance...
Buy when she says buy;
Sell when she says sell
'Cause if you learn to flow with her,
You will do very well

Again...
Buy when she says buy;
Sell when she says sell
'Cause if you learn to flow with her,
You will do very well

If you take heed to my advice
It won't be to my demise
You still will be my trading friend
Just pay my spread at the end

So sing the song and dance the dance
Be sure to take not even one chance
'Cause once you step on my playground...
Either you'll make it; or she'll bury you in the ground
Trade what you see, not what you think or feel. Let the market come to you.
  • #371
  • Edited 4:00pm May 2, 2012 5:53am | Edited 4:00pm
Quoting FX4Newbies
If I Were A Dealer by FX4...

If I were a dealer, I'd be curious to know
Were traders into MACD? or Ichimoku Kinko Hyo?
Don't know which one for sure, and really wouldn't care
As long as I could see that their orders were really there

I might attend some webinars or visit rooms and forums
Gotta keep up with my competition 'cause the game is Zero-Sum
To see what's new, what's hot...or not; what folks are looking to do
Works...
Just posting an edit (in blue) to the poem If I Were A Dealer:

If I were a dealer, I'd want traders to know
The only way they'll beat me is to trade when Market says so
So dance...
Buy when she says buy;
Sell when she says sell
'Cause if you learn to flow with her,
You should do very well

Again...
Buy when she says buy;
Sell when she says sell
'Cause if you learn to flow with her,
You should do very well

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #372
  • Edited May 3, 2012 9:40am May 2, 2012 4:56pm | Edited May 3, 2012 9:40am
For traders serious about developing the habit of consistently profitable trading.

http://www.abc.net.au/radionational/...erfect/3611212

Thanks Dopey.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #373
  • May 3, 2012 7:38pm May 3, 2012 7:38pm
Just like to thank Ultramoe for his insight and helpful video.

Currently making up for the losses I incurred after the very worst of things happened to me - I got lucky the first few times and thought I was onto something.

Thank to Ultramoe's very simple technique I'm nearly back to what I deposited, and using all the time I'm not spending overtrading reading more and learning more.

I am still tempting fate using excessively high risk for now, but I feel confident and will dial it back to max. 4% per trade once I make it back to my deposit amount.

Thank you Ultramoe. It's hard watching some of these trades go so much further, but locking in the 20 is great. Maybe there is a way to catch some of them. Testing will tell.

(FYI: I am using a few trailing stops - once I hit +10 profit, moving SL to BE+2, once I hit +15 moving SL to BE+5. Still reviewing how many profitable trades will get shut out due to volatility. When I get stopped out I am waiting for a break in the opposite direction and doubling up the lot size and still taking the 20 pips. Still often not quite enough to make it BE for the day, but using these rules, system nets positive 1550 pips since Dec 11. Avg just over 250/week.)
  • #374
  • Edited 5:32am May 4, 2012 5:21am | Edited 5:32am
Just thought of asking this question:

What part of the actual trading process do you think is the most challenging?

1. "Knowing" when to enter the trade with minimal heat (less than 10 pips against you).

2. Holding a profitable trade to get most of the pips available.

3. Knowing when to take the loss (exit the trade) because the market bias has actually shifted.

4. Knowing when to use rescues and attacks if that is your trading style.

5. Knowing when not to trade.


FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #375
  • May 7, 2012 8:13am May 7, 2012 8:13am
Quoting FX4Newbies
Just thought of asking this question:

What part of the actual trading process do you think is the most challenging?

1. "Knowing" when to enter the trade with minimal heat (less than 10 pips against you).

2. Holding a profitable trade to get most of the pips available.

3. Knowing when to take the loss (exit the trade) because the market bias has actually shifted.

4. Knowing when to use rescues and attacks if that is your trading style.

5. Knowing when not to trade.


FX4
I think all are so important for me 2 and 5 are more
  • #376
  • May 7, 2012 8:55am May 7, 2012 8:55am
Quoting saidsaid
I think all are so important for me 2 and 5 are more
Aren't they? Just trying to see where traders might have the greater struggle. I think if traders are having a very hard time getting in at an optimum entry, and they're not very experienced, they may be having a real hard time trading profitably.

Thanks for your comment. Knowing when not to trade is invaluable. Also, when in a good trade..."holding" long enough to max out those + pips. One thing that might help you here is once you're profitable scale out and leave just a small position in. When you see another impulse wave, scale in again with a little larger sized position. That way you're psychologically more comfortable because you've banked some pips. Don't know what time-frame you trade now...could you go out a little farther?

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #377
  • May 11, 2012 4:05pm May 11, 2012 4:05pm
Hope everyone had a great week. I've been trying to clear some time so that I can focus on trading. Getting some things out of the way. Hopefully, I can start to rack up some more pips in a bit .

Enjoy your weekend.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #378
  • Edited 7:45pm May 12, 2012 6:07am | Edited 7:45pm
Coming up to the middle of the month and about 40% of Forex Factory members who voted are consistently profitable. That figure is close to Forex Magnates stats for last quarter I think.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #379
  • May 15, 2012 4:00pm May 15, 2012 4:00pm
Tonight I'll be posting a comparison of the poll results as we'll be "half-way" through the month of May. Let's see how things shape up.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #380
  • May 16, 2012 3:26am May 16, 2012 3:26am
Consistently profitable traders still hanging close to 41%. Will post the comparison later.

FX

P.S. Trading at the moment
Trade what you see, not what you think or feel. Let the market come to you.
3 traders viewing now