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The Trader Behind the Trade™

  • #161
  • Feb 1, 2013 12:14pm Feb 1, 2013 12:14pm
i just don't want people to dismiss me because i was aggressive in the past-that i'm going to be aggressive now...i'm a changed trader ..i found jebus
NocturnalFX is no longer offering commercial services
  • #162
  • Feb 1, 2013 2:54pm Feb 1, 2013 2:54pm
Quoting TradeMonk
wut can I say? if he was upfront about the change or used his old name, may be I wouldn't be sniffing around in case he's a shill
There's another vendor you should sniff out, he goes by the name Tradingplace (with picture of a car). He then created another username Fxtrader (also picture of a car) and then praised his own thread as a separate person. Check him out, he still has not admitted to the lies and dishonesty although the duplicate username was banned. Both are same person if you checked the profile details and style of trading.
Quoting Tradingplace
Another good week for our subcsribers, back again next week to Wash, Rinse and Repeat. Hope everyone have a nice weekend...Try to stay away from charts, enjoy your time with the family, there are the most important people in your life.
Weeks total = +620 pips
Quoting Fxtrader
some good analysis there...looks like someone knows what they are talking about. Thanks for sharing, keep up the good work.
I just have one question, what is your risk to reward ratio and how do you manage your trades?
Just reading the second post makes me puke, knowing it's himself writing it.
No longer trading forex. Looking for full time job.
  • #163
  • Feb 2, 2013 7:18pm Feb 2, 2013 7:18pm
The worst enemy of a trader is his ego. Once he gets cocky that's the end of it. Warithu (later Trader X, real name Haji Warithu) managed a PAMM at HotForex making hundreds of thousands dollars for his fund. It was ranked #1 for a long time until he blew the entire account. Several of my friends lost all their deposits. Ian Soberal was another example with PAMM at LucroFX in New Zealand.
  • #164
  • Feb 2, 2013 11:54pm Feb 2, 2013 11:54pm
Quoting TPOTrader
Been getting pretty good streaks lately.
so I'm shoutin on top of my lungs
WHERE ARE YOU MR DRAWDOWN!!?!!? I AM HERE!!!!
He's too good, he's actually screaming for drawdowns.
No longer trading forex. Looking for full time job.
  • #165
  • Feb 3, 2013 3:26pm Feb 3, 2013 3:26pm
all people care about in the end is the ROI and equity curve, manage those and the rest is forgotten

btw, why havent you gone zulu?

the top trader has $8M under indirect management, and unbelievably he is trading a demo account, but the followers dont care

Quoting TPOTrader
i just don't want people to dismiss me because i was aggressive in the past-that i'm going to be aggressive now...i'm a changed trader ..i found jebus
  • #166
  • Feb 3, 2013 4:12pm Feb 3, 2013 4:12pm
...wow, this thread sure changed a lot since I last looked at it.


Umm... TPO, since I noticed you went searching for investors on EliteTrader, did you by chance check out rcapa or mickson's stuff? They're giving out a 1/10 cut of the assets they allocate to new managers, with $100k starting allocations going up from there. Think you might need to be structured as a hedge fund (doesn't have to be based out of the US, can be offshore,) but if it's assets under management you're after with no long standing history that might be a place to start. Mike's a good guy too..
FXGears.com
  • #167
  • Feb 3, 2013 6:19pm Feb 3, 2013 6:19pm
Quoting PeterE
all people care about in the end is the ROI and equity curve, manage those and the rest is forgotten

btw, why havent you gone zulu?

the top trader has $8M under indirect management, and unbelievably he is trading a demo account, but the followers dont care
I tried going the zulu route. Unfortunately, i can't sign up as a signal provider cause i trade through oanda.
NocturnalFX is no longer offering commercial services
  • #168
  • Feb 3, 2013 6:21pm Feb 3, 2013 6:21pm
Quoting Jack_Larkin
...wow, this thread sure changed a lot since I last looked at it.


Umm... TPO, since I noticed you went searching for investors on EliteTrader, did you by chance check out rcapa or mickson's stuff? They're giving out a 1/10 cut of the assets they allocate to new managers, with $100k starting allocations going up from there. Think you might need to be structured as a hedge fund (doesn't have to be based out of the US, can be offshore,) but if it's assets under management you're after with no long standing history that might be a place to start....
Yea i'm in there currently #27 out of +500 members . Only the first 5 traders get the funds though. we'll see.
NocturnalFX is no longer offering commercial services
  • #169
  • Feb 3, 2013 6:28pm Feb 3, 2013 6:28pm
Quoting TPOTrader
Yea i'm in there currently #27 out of +500 members . Only the first 5 traders get the funds though. we'll see.
25 out of 500 is great. Whats the website you guys are talking about ??
I will become the World's best at my own style
  • #170
  • Feb 3, 2013 6:48pm Feb 3, 2013 6:48pm
Quoting Celente
25 out of 500 is great. Whats the website you guys are talking about ??
http://rapacapintro.com/account/leaderboard
NocturnalFX is no longer offering commercial services
  • #171
  • Feb 3, 2013 9:06pm Feb 3, 2013 9:06pm
Quoting TPOTrader
I tried going the zulu route. Unfortunately, i can't sign up as a signal provider cause i trade through oanda.
Why can't Zulu accept you? I'm not familiar with the details but didn't Oanda also have MT4 if Zulu only takes MT4 traders?
No longer trading forex. Looking for full time job.
  • #172
  • Feb 3, 2013 11:07pm Feb 3, 2013 11:07pm
RAPA doesn’t look like the easiest firm to access funding from, even for the competent traders on their leaders board.

Only the top 5 traders will receive funding initially, which excludes many on the list who, at face value, look quite deserving.
  • #173
  • Edited Feb 4, 2013 12:09am Feb 3, 2013 11:16pm | Edited Feb 4, 2013 12:09am
Quoting PeterE
RAPA doesn’t look like the easiest firm to access funding from, even for the competent traders on their leaders board.
Only the top 5 traders will receive funding initially, which excludes many on the list who, at face value, look quite deserving.
So far only ONE trader Kevin Saunders received funding of $100K, not 5. How much fees can he earn from managing $100K client account? Most educational firms selling courses and chatroom subscriptions and newsletters earn more than that, with just 100 sign-ups.

http://www.beatthemarketmaker.com/pr..._policies.html (US$5,150)
http://strikezonetrading.com/sign_up (US$1,595)
https://www.priceactiontradersinstitute.com/services/ (US$1,997)

Trader Interview with Kevin Saunders 1st $100k Capital Allocation

We have our first allocation of $100,000 going to Kevin Saunders with account U54964xx at the top of the leaderboard on 7 December with a RAPA score of 93 out of a possible 100. Here are some key performance metrics for the accounts 1yr and 24 days history:

Annual ROI of 21.5% a daily annualized Sharpe ratio of 2.46 (RF=0) and a Max Drawdown of 3.22%

The following interview took place between Michael Berman and Kevin Saunders on Sunday 10th December 2012.

How long have you been trading, and what got you interested?
I have been trading since 1999. I came to trading as a hobby during the dot com boom. After making a lot of easy money in the internet bubble, I also had the misfortune of losing a lot of money when the bubble collapsed. This experience made me determined to develop a more robust understanding of how to trade the markets.

What is your full time occupation?
I am a full time trader and money manager.

What is your background both educational and career wise?

Tell us about your office setup, where do you live (City is good enough), what kind of hardware do you use, what kind of software do you use?
I have an office in the Melbourne CBD. I use several laptop computers, predominately, an Samsung laptop (8Gb Ram, SSD, Win7 x64). I like laptops ahead of desktops because the battery backup provides a redundancy against power failures.
I use OptionVue options analysis software, a custom Excel Spreadsheet and a custom Java application. The Excel Spreadsheet and the Java application interface with the API that comes with Interactive Brokers' Trader Workstation. I execute through TWS.

What kind of trader are you, as best reflected by your personality?
I am an option trader, looking to trade volatility, predominately from short side. The trading cycle is typically 30-40 days so there is not a requirement to remain glued to the screen. This suits my personality and time restraints.

Can you describe your strategy and what you believe makes it profitable over the long term?
No longer trading forex. Looking for full time job.
  • #174
  • Feb 3, 2013 11:36pm Feb 3, 2013 11:36pm
The ambition with RAPA is more fund managing than prop trading I think. Looking at Kev’s profile/stats and the fact he is the chosen one.
  • #175
  • Feb 4, 2013 2:09am Feb 4, 2013 2:09am
Quoting mmaker
Why can't Zulu accept you? I'm not familiar with the details but didn't Oanda also have MT4 if Zulu only takes MT4 traders?
that's what i don't understand about zulu. To be a signal provider-you have to trade through a select broker-and oanda is not on the list. I even had a chat with the support people-oanda is just isn't supported.

why couldn't they just use mt4 ea bridge?

oh well, at least i'm on currensee (still in review process)-at least the top guy has about 2M following him. But still....
NocturnalFX is no longer offering commercial services
  • #176
  • Feb 4, 2013 3:29am Feb 4, 2013 3:29am
Third time's the charm...

The never ending psychological pounding

Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 404 KB
NocturnalFX is no longer offering commercial services
  • #177
  • Feb 4, 2013 11:26am Feb 4, 2013 11:26am
I've spent some time reading traders' blogs these past few days. From FF journals to guys who are signal provider or money manager registered with services like currensee, fxstat, etc.

It's very tough when you put your whole trading performance on the line for public scrutiny. People who has never been public about their trading history has no fucking clue of how hard it is to maintain a proper mindset-when your results are published.

I've been there before. Being somewhat paralyzed when i see that people are commenting on my losses. Somehow you're bound to this idea that you need to show a smooth equity growth-no matter the costs.

It's all fine and dandy when we're successful. People praise us, wish us luck etc.

BUt when we fail, we turn into carcass that vultures would swarm to. The same people who encouraged us, come down and beat us on the recent failures. Tearing us apart. It seems that putting us down justifies their own failure-justifying their misconception-that nobody can win this game-and "they" were right.

I hope i can be one of the very few successful traders-still standing-one year later-or years later-with my Trade explorer/myfxbook still intact-unmodified. To just give hope to struggling traders. And to just break these myths about what successful trading should be.
NocturnalFX is no longer offering commercial services
  • #178
  • Feb 4, 2013 12:23pm Feb 4, 2013 12:23pm
You can't seriously expect to make it in this industry if you care about what small time investors and traders have to say. Herd mentality (or as I've called 'tribal thinking/mind' in my written material,) is a killer of many traders. It affects your trades, your self esteem, your sense of what's right/wrong... and in the end, it has very little benefit.

Further to that, the comments you'll get from your target market are going to be no better that what you've witnessed.. the average person on the signal services you've taken on maybe has a few grand they are willing to play with (if that, most are in the hundreds) and they are likely not traders.. you can't expect them to hold any importance to what actually matters, they are just a group of bitter people who cling onto failures since it makes them feel better about failing as traders themselves.

... not to mention, they go for systems that employ trading strategies that cater to their desires (like few losses, huge gains, etc..) and then complain and rage when the manager blows up or takes a huge loss (what did you expect?)

So you gotta choose, are you going to play the game of getting as many subscribers as possible (and thus, knowing your client and presenting something they'd toss money at blindly,) or be a manager who'll stand the test of time and attract a lot more assets under management in the long run from accredited investors who see your value?

The best part, not only is the moral choice (ie, caring about someone's investment in you, not about how much you make off them before you blow yourself up) is also the choice that pays the big bucks 10+ years out.

The one thing, to be honest, you seem to lack is patience for that 2nd option. You're trying for a business that typically takes many years to build up to a point where you make a living off it. It's not going to happen tomorrow, stop rushing things and being emo about a lack of investors or what people who aren't qualified to have opinions say about your trading... just focus on your craft and ignore the rest. The money will come in time, and with a 2-3 year audited track record showing what you're made of, should your stats continue as they have, you'll have to bat away investors instead of searching for them... you just gotta give it time. If you need more money now, get a part time job, don't rush this.

Disclaimer: I'm not a subscriber of yours, nor will I ever be (I don't buy signals, I trade my own capital, and even advise other traders to avoid signal services unless they'd rather just be an investor.) This pep talk is more from how I've found this thread interesting than anything else. I might make the same journey as you one day (not quite to signal provider, that's not my style, but manager of a capital allocation or fund,) so seeing how others approach it and their success that comes with their methods is interesting to me.
FXGears.com
  • #179
  • Feb 4, 2013 2:08pm Feb 4, 2013 2:08pm
Being a signal service provider is the toughest route for a professional trader in my view.

Your customer in most instances does not have a clue about realistic DD, % returns, nor the concept of longevity. They are interested only in high returns right NOW!! and they are oblivious to the fact that such outcomes necessarily entail high risk, and high risk of ruin. This fact is illustrated again and again at zulu. The herd blindly follows the latest gambler, oblivious to the fact that it’s only a matter of time before the signal provider falls off a cliff. This is the mentality you are up against in the world of signal providing, it’s pushing a wheel-burrow up hill.

The path of least resistance for the pro trader who wants to access more capital sooner rather than later, not to mention a superior income to signal providing, is the Prop Trader route in my view; a professional outfit such as Propex or perhaps this guy who is offering accounts up to $5M.
  • #180
  • Feb 4, 2013 6:48pm Feb 4, 2013 6:48pm
Quoting Jack_Larkin
You can't seriously expect to make it in this industry if you care about what small time investors and traders have to say. Herd mentality (or as I've called 'tribal thinking/mind' in my written material,) is a killer of many traders. It affects your trades, your self esteem, your sense of what's right/wrong... and in the end, it has very little benefit.

Further to that, the comments you'll get from your target market are going to be no better that what you've witnessed.. the average person on the signal services you've taken on maybe has a few...
The truth is i just want to trade my own funds. The reason I started this trading signal gig is because I want that extra income. My ideal fund to trade on my own is $150k-200k. I think with that amount I can live comfortably and can sustain periods of monthly drawdowns.

But i get what you're saying. I definitely do not want to go bust folloiwng some newbie advice. I will stick to my strategy like I always.

Thanks. would have thanked you personally..but FF even disabled my private messaging option....ugh
NocturnalFX is no longer offering commercial services
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