Proof That Ultra Profitable Trading Is Indeed Possible

mmaker: I was overleveraged. Thats why i always failed. But i have learnt my lesson. Now i am trading less.

Chicky: Hi...i am still trading and alive. Thank god. On the previous accounts i used to be overleveraged. Now i want to keep it simple and not to go the overleveraged route again. I want to be consistent not for one day but for a lifetime..god willing

P/s I have posted the myfxbook widget on the first page.

I want to trade this consistently.

The market moves slowly and when it does you should play the range. Sell the resistance and buy the support.

P/s : The drawdowns i had was because of extreme overleveraged . I am still learning but also i am improving
Remember leverage may destroy your account! Use it with caution.

Buy low sell high only works on range, once break out ur gone! if u dont have stop. To be honest if you claimed to trade on S/R your DD won't be SO HIGH. most of the trades taken on S/R have mere 5-15 pips stop loss as after that price action will over-lapsed to make it support turn resistance, or resistance turns support for further breakout.

Anyway, DD is too high, any DD more than 10% is not ideal anymore. As your risking too much and entering too many wrong trades wrong time or using wrong system for higher probability of profits.

Train your demo and stop chasing GAIN! watch your DD and RISk and build up consistency and small profits then only you will realize what's the power of preserving capital and compounding returns later on.

As for now, it's just a matter of time you will keep blowing it as you want to show off your returns and endangering your account with risks involves

If you have been scalping, be wary of machine guns trades, and collapsed trading in one direction, where you may accumulate too much negative pips. Snipe a trade regularly up down 30-50 pips each time, it's sufficient compared to opening and being involved with 30-50 scalping trades, which is why many use robot to scalp as its only a matter of time they get emotional.

Do you have a myfxbook tracking statement that we can view? I think Supertrader9 is on to a great start. After 3 days of trading he is up 76%!
http://www.myfxbook.com/members/supe...er-live/412220

Yes the drawdown is not really favourable...When i have 10million i might start trading conservatively. And no i am not trading to show off, but i do want to prove that ultra profitable trading is possible. I am not trading recklessly although it does seems like it..but i did make mistakes today and that explains the excessive drawdowns. Drawdowns will always exist but i aim to keep it at a safe level.

I am sorry..for now i want to keep it private

there was this one guy genius trader, when i just started trading, i followed him on twitter. He funded his account 25,000USD and use very good position sizing on a minimum 1:2 RR, he only trade about 2 trades max each session and mb 5 trades max per day. And he either get his stop stop out or hit profits accordingly and sometimes he do use trailing stops.

So this was what happened,

1 month into following him, his account was 125,000USD,

2nd month, his account was 250,000 USD, all live trades, live positions tp and close.

U see, u dun need a very profitable pips system or anything, all u need is proper plan and accuracy. A 50Cents u invest is going to earn u $1.

Your $1 is going to give you 2 more probability of making $2. If you mind is so obessed with protecting profits, and not willing to lose, your never be able to bank in profits as per your target and missing out on the let your profit run scenarios.

And after his 280K USD accumulation, he went mia , u know he's trading like a sum of 15K each time he won, and loses like 7-8K when he was trading at 200K++, but remember that his original fund was only 25K.

So that's a real trader. - He sets and forget using his set up, and come back later to see if stop is hit or start trailing.

Simplicity is all matters, and he only uses supply demand on first time, meaning he won't use repeated supply/demand area as price action is likely to be overlapped by trend.

no fancy indicators etc etc

Hello 5percent,

I would like to trade like that, but not there yet. What is your advice and suggestion for me if I divide the forex 24 hours into 3 sessions:
- 5pmET to 1amET, Asian
- 1amET to 9amET, London
- 9amET to 5pmET, New York

If I trade intraday 15mins charts, referencing 60mins/4hrs, what is your advice on which is the better session to trade? I want to focus exclusively on London session but I read somewhere that New York session is a gamble. I learned the hard way to avoid Asian session completely, and to use that for rest and sleep.

How do you trade in terms of session and working times? Since you are in Singapore the London session is your afternoon right? Do you also trade the New York session in your evenings?

[quote=Supertrader9;6052646]A Question:

Does anyone here believes a scalper(taking 2-6pips) can be a successful trader?

if you have a good tradeing method 2-6 pips is more than enough, it all depends on the frequency of the trades and pip value. i can wait hours or days for oil to spike with a pip value upto £100, so 3 pips =£300 BUT due to spike nature you might hit 300 pip move. Its all maths and keeping your head and it is a lot harder doing this live because you do not know when the move will stop. ( i am being honest). Take care

i used to be a Scalper on m15 charts and used to trade intraday swings/news bt now i have left Scalping and looking forward to trade 4HR/Daily/weekly charts only cause scalping is not doing good for me...
I always wonder how people can make money out of scalping..:/

First of all, alot of people got the wrong conception about trading the charts, regardless whether it's 1 hour, 4 hour, daily chart, 5 minute chart, the laws says that they are all the same, the 1 minute chart makes the 5 min chart, makes the 15 min makes the 1hour and the day finally. In fact, MR FIBONACCI will tell you, the 1min makes the 5min makes the 15min makes the 1hour and etc, all the rules on MR FIBO are the same, they affect one another.

This is the greatest hindrance when trader later jumped to the conclusion they are not doing well on min 15 they jump to 1hour. This is wrong, in fact, you must analyze all charts. In fact, if you were to be in a intra-day prop firm trader, the chief trader would actually tell you they trade the 10s or 1minute chart because that would be the real chart.

The Forex market moves because of price quote and quote are done by big players aka banks for monetary transaction, and import and export,demand of your dollar for my euro, fluctuation, which is why there is a bid price and a ask price. The offers and bids and orderboard is placed to bench mark and slow down of a particular trend as most countries would want to depreciate their currency strength.

Technical trader are made and born because the chart helps to identify certain factors like supply/demand " so called " but then there's something called price action which help to forsee price future action movements, so in tune with LIVE RATES and fundamental is also a needed component.

Understanding price movements is important if you can get in sync with it's attitude and behavior. What you can do is having focus trading hour. Most retail traders have insufficient understanding of all market hours, You may want to do 1 week pure Asia, then you don't trade europe nor Us session. Next week, you do europe, then next week you do Us session. So you can learned about each session's volatility and each session's fundamental approach about order board, news data and breakout strength.

Only until then, you fusion them together, Asia with europe for 1 week, then next europe with us session. Then Us lone session towards closing.

If you can trained under such circumstances, you would actually be much enlightened about your own trading personality and the market personality. Alot of traders would blame wow, it was like that in asia, then wow it was like that in europe, and then us "LAS VEGAS" wash them out.

If you can, speak with a chief dealer of any major bank about live rates quote especially during the us session, they will inform you the real truth about trend, which is why you don't buy low sell high anymore, unless you are in a range. Alot of traders trade the correction which is wrong, because correction does not mean reversal, they assume and always assume. And when they don't take profit, or even move stop to be, the position get turned back and hit their stops. Breakout don't happen all the time, it's important to understand monday - friday and all particular events. You need to be in fomc, ecb and etc all these fundamental events and learn about it, not be scared of, because there are strategies to trade them.

Focus on asia hour before japan opens, identify the high and low, support resistance and learn to trade the mini asia's range or breakout. Each moves up down is about a potential 15-50 pips move, move in take the trader, bank in and get out, and set the remaining to trailing. Then trade the frankfurt's range/breakout. Price moves in boxes, one break support moves to the next box etc, break resistance moves to the next box, which is why you need to learn about pricing not to think oh earlier i saw 1.0290 aud/usd sell back to 1.0275, i assumed 1.0299 will sell back again, when it actually move to a new range of 1.0295-1.0315, which is when u might want to cut your wrong position early. study the chart more, and u will find out the real secret.

Don't be obessed with trendline, lines, indicators and etc. naked chart actually works best, then add with some stuff which helps ur visual and decision making. trendline is mainly to trade a particular breakout on each session, trendline in fact starts from 1min and 5min, add on retrace etc, pro will tell you trendline entry are using mere 3-5 pips stop, because if trendline meant to work it will bounce off, if not don't take the position,.

blew up account again?? I thought he was doing well with +106% when I last checked ....
http://www.myfxbook.com/members/supe...er-live/412220

[quote=5percent;6150703]First of all, alot of people got the wrong conception about trading the charts, regardless whether it's 1 hour,

you spoke some wise words. good trading

Now that this is taken care of.
We should move down to:
Proof That Reasonable Profitable Trading Is Indeed Possible
Then we can witness the same end result.
and then move down to:
I am happy I kept my day job.

I really don't get it. How he could lose an account in three days with r/r 1%. Its not possible.

It is still possible, if a trader adjust his mindset properly. And knows what his limit and target. Apparently for supertrader, it's probably due to over-leveraging and too many pairs trading at same time " collapsed trading " accumulating negative positions that attacks the margin and bring it to margin call and stop out finally.

If a trader really want success, he must adjust his mindset and attitude to trading first, being realistic and knows his strength and weaknesses. For example, if i am not good at trading the us session, due to pips volatility hitting stops too easily, and too many fundamental hiccups aka news/speech/tweets, maybe the trader may want to avoid trading in time he would make more mistakes or adding more wrong positions.

If a trader wants to start trading for a living, a comfortable 5000-20000 capital is possible to start, because if you are only looking at a 1000-2000 profits earned monthly and slowly, through accumulation, it's very possible. but if a trader wants to make 3000-5000 using 5000 or using 1000, then they are dreaming, because they are exposing the risks and leverage.

As part time trader/retail trader that yet gone full time, should actually conduct more paper trading and strategy execution offline and not with broker at all! because you will be emotionally biased and eventually you will lose all your money to the broker. Execute professional paper trading and journal of entries, in and out, where to exit why, crosses price action, where to place stop loss, where to hedge with buy stop , where is range, where is breakout etc, this way you will learn more, after that then move to a live trading process with risk management and account management.

If risk is carefully watch, there's no way a trader can lose everytime, if 2% per time he have up to 50 chances before he finally blow. Ofc not to trade 2% leverage per trade and having 10 negative trade at 20% expense.

[quote=Chicky;6151357

]I really don't get it.

are you speaking abvout the thread owner. If he is new he shouldnt be leveraging. Practise what you preach ( said in a nice way) take care]

[quote=billytt;6151377] I followed the thread owner to this thread, as he was giving advice and wise words elsewhere and seems to know what he is doing. But after demonstrating several demo accounts where he easily doubled or tripled the account, it was really impressive. But his real try with live cash account was troubling. He should follow his own advice really ......

[quote=mmaker;6151432][quote=billytt;6151377]
I followed the thread owner to this thread,


lol, no matter what anyone says it is different trading real money. micro lots maybe ok but when you start using pounds or dollars it is a different ball game. one has to be extremely focused and trade exactly the same. and that is very hard to do as i have first hand experiance. take care