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Attachments: I trade my own account for a living. Tell your story
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I trade my own account for a living. Tell your story

fyi:

flamers of this thread will now be blocked from posting here.
let's keep this a clean a healthy debate.
thanks for your understanding.
well guys thanks for all the advice...trust me after 10 years of trading you learn how to humble yourself and take advice whereever it may come from....Ive heard stories of NASA space programs guys even going to kindergarden classes to get some simple explanations for complex answers...but thats rocket science and this is forex. As of today I've worked my way to $753.00 dollars...placed only 3 small trades at 2 lots and then 3 lots for the last two. Use this for entertainment or just as a learning tool for those of you who may want to give up. Whatever the case il keep going until i make my goals. Again my first goal is 6k and then I will make my way up from there with the goal of $250k...lofty goals yes...but heck im drunk with failure and ready for some sobering success....again wish me luck!!
Since August 6th, I restarted trading with a small account. I did set out for myself a goal of averaging 1% a day. Real life/work schedule has been interfering with my trading. As a result, at the beginning of this week I was about 3 weeks behind my schedule. Great trading week so far, I've been able to catch up. My trading style has to do with price action and timing of the day and a bit of psychology. I don't use stop loss unless it is to protect my gains. If I misread the market or an event turns the matket against me then I hedge it. I use about 5-7% of available cash per trade and I try to close it within the same day. I rarely trade the 2nd half of the NY session as the price action slows often next to nothing. After the 1% profit is attained, I have the finger on the mouse and ready to close if it starts going back. If there is still time I then hunt for another opportunity. This week there was a lot of opportunities. Some people had problems with this chaotic week but I do believe that by reducing the time expectation you can thrive in those situations. Where the market goes tomorrow I don't know. If it goes somewhere i'll follow (at least try).

Before i get criticized on the lenght of this experiment, I think I have achieved a certain level of consistancy. Because I am not trying to hit a homerun each time but rather just getting on base, I think that it is what is helping me. That is my story for now and i'll keep you posted on my progress.

Green pips for all!
I was IT programmer.

1.) started with trading stock at 12
2.) commodities futures at CBOT at 16
3.) at 20 i found forex market and start to trade everyday around 10 hours a day (best trading school)
4.) after 5 years of trading i mastered my strategy and started to trade for living
5.) right now, after 6 years of trading i trade around 40 weeks a year + i started to have another income from dividend stocks, which i bought from
profits from forex trading, so i actually dont need to trade to live .. but i trade because i like it and want more
-------------------------------------------------------------------------------------------------------------------------------------------

The best thing to be "successful" trader is independent, i can wake up at the morning and take a vacation for such long time as i want.
It wasnt easy, i broke three times my account, i failed with studiing at two Universities, but it was worth it.
I started to be successful after 10 000 hours of trading.

I prefer compounding money management, because can make from small deposit much more bigger money, but you have to figure out how, because
for human is not natural to think in exponential way, human brain is more like linear way thinker.

I wish to other as lot of luck i had. Happy trading.
My blog: forex-scalping.com | Exponencial money management is the key!
Quoting ActionScalpr
I was IT programmer. 1.) started with trading stock at 12 2.) commodities futures at CBOT at 16 3.) at 20 i found forex market and start to trade everyday around 10 hours a day (best trading school) 4.) after 5 years of trading i mastered my strategy and started to trade for living 5.) right now, after 6 years of trading i trade around 40 weeks a year + i started to have another income from dividend stocks, which i bought from profits from forex trading, so i actually dont need to trade to live .. but i trade because i like it and want more -------------------------------------------------------------------------------------------------------------------------------------------...
Nice story,thank you. One of the question hotly debated here is ''Is it possible?''. We now have an answer.
Quoting Typhoan
{quote} Nice story,thank you. One of the question hotly debated here is ''Is it possible?''. We now have an answer.
You are welcome

But again i have to say, it wasnt easy way, forex market is the most complex place, where you can trade ..

I allways believe that nothing is impossible and once you can imagine something, you can have it

Have a merry Christmass.
My blog: forex-scalping.com | Exponencial money management is the key!
Quoting ActionScalpr
I was IT programmer. 1.) started with trading stock at 12 2.) commodities futures at CBOT at 16 3.) at 20 i found forex market and start to trade everyday around 10 hours a day (best trading school) 4.) after 5 years of trading i mastered my strategy and started to trade for living 5.) right now, after 6 years of trading i trade around 40 weeks a year + i started to have another income from dividend stocks, which i bought from profits from forex trading, so i actually dont need to trade to live .. but i trade because i like it and want more -------------------------------------------------------------------------------------------------------------------------------------------...

I whole heartedly agree with you!!! many people are stressed out thinking this way or in terms of scalping; they are also stuck with conventional ideas regurgitated all over every forum, what they don't realize is that it only takes a small amount of capital to build a very massive one for us scalpers and it is very easy to live off that even with the most conservative trades. I feel very contrarian to what is said here a lot of the times.
Quoting nitecop
{quote} I whole heartedly agree with you!!! many people are stressed out thinking this way or in terms of scalping; they are also stuck with conventional ideas regurgitated all over every forum, what they don't realize is that it only takes a small amount of capital to build a very massive one for us scalpers and it is very easy to live off that even with the most conservative trades. I feel very contrarian to what is said here a lot of the times.

That's what I'm after, why I've tried loads of methods and loads of variations of each method to find that'll work for me, I was close recently but made another tweak recently which blow's the previous method out of the water.

On the ball and 100% focused on trading mainly GBPAUD I reckon I coulda made 50% just today, small account to riches in no time, sadly busy so +3% area.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
Quoting Turveyd
{quote} That's what I'm after, why I've tried loads of methods and loads of variations of each method to find that'll work for me, I was close recently but made another tweak recently which blow's the previous method out of the water. On the ball and 100% focused on trading mainly GBPAUD I reckon I coulda made 50% just today, small account to riches in no time, sadly busy so +3% area.
What type of trading is that? scalping?

I laugh when people aim for 2% a month, i usually get that much per trade and i fire vast number of trades per week via algos with a 99% success rate. The money management for this style is very different! and I find that loosing traders usually focus more on a 'system' rather than their psychology/thinking or money management. My biggest problem now is doing taxes and figuring out a legal corporate structure. My algos run 24/5 but I back out during very specific points and abnormal conditions. I am convinced technology now allows new ways of trading and forces new ways of thinking beyond traditional methods.
Quoting nitecop
{quote} What type of trading is that? scalping? I laugh when people aim for 2% a month, i usually get that much per trade and i fire vast number of trades per week via algos with a 99% success rate. The money management for this style is very different! and I find that loosing traders usually focus more on a 'system' rather than their psychology/thinking or money management. My biggest problem now is doing taxes and figuring out a legal corporate structure. My algos run 24/5 but I back out during very specific points and abnormal conditions. I am...
Scalpy, not like 3pips and out stupid scalping, I'm after well pretty much all the intraday swings and 50% of there value, I'm greedy.

It's a numbers game, risk 3%, 10 times per day, profit on 80% of them and on some maybe 5x's your risk level and your account will fly pretty quickly.

Make 6 trades per month, 4 profits and 2 losers, risking 1% per trade and ofcourse different story, you get 2%.

Lets me trade in the park with the kids when I'd other wise be bored or failing to chat up some mommy LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
Quoting Turveyd
{quote} Scalpy, not like 3pips and out stupid scalping, I'm after well pretty much all the intraday swings and 50% of there value, I'm greedy. It's a numbers game, risk 3%, 10 times per day, profit on 80% of them and on some maybe 5x's your risk level and your account will fly pretty quickly. Make 6 trades per month, 4 profits and 2 losers, risking 1% per trade and ofcourse different story, you get 2%. Lets me trade in the park with the kids when I'd other wise be bored or failing to chat up some mommy LOL

agreed it is a numbers game, at this point you start to think like a casino house that has tons of nickel slot machines. it's simply a statistical edge/probability in your favour.
Quoting nitecop
{quote} agreed it is a numbers game, at this point you start to think like a casino house that has tons of nickel slot machines. it's simply a statistical edge/probability in your favour.

Yep, find a method that works which isn't too tricky so it burns you out, then just a matter of sitting there bored mainly repeating 1000's of times.

Shame it takes years of having your ass kicked to get there, but worth it in the end hopefully! Hoping to start finding out next year.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
Quoting Turveyd
{quote} Yep, find a method that works which isn't too tricky so it burns you out, then just a matter of sitting there bored mainly repeating 1000's of times. Shame it takes years of having your ass kicked to get there, but worth it in the end hopefully! Hoping to start finding out next year.
This is why I automated the process since it is very mechanical and takes my emotions out of the picture and allows me to focus simply on the math. plus a computer has a better,fast and more accurate execution than a human. Hard to deviate from the plan than way and the results are always the same every week. I like consistency and predictability.
Quoting nitecop
{quote} This is why I automated the process since it is very mechanical and takes my emotions out of the picture and allows me to focus simply on the math. plus a computer has a better,fast and more accurate execution than a human. Hard to deviate from the plan than way and the results are always the same every week. I like consistency and predictability.

I'm a programmer, so makes sense to me to, but computers can't think so not really a fan.

Current method, I think I could code the entries, but exit wise the best I can come up with is a smart trailing stop, without my ability to go, this trade isn't going to work take small profit, I see the profit rate failing and the average profit also reducing, but more trades so tricky 1.

EA's are all setup to work of indicators though, with a pretty much indicator less method, makes it kinda tricky.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
Quoting Turveyd
{quote} I'm a programmer, so makes sense to me to, but computers can't think so not really a fan. Current method, I think I could code the entries, but exit wise the best I can come up with is a smart trailing stop, without my ability to go, this trade isn't going to work take small profit, I see the profit rate failing and the average profit also reducing, but more trades so tricky 1. EA's are all setup to work of indicators though, with a pretty much indicator less method, makes it kinda tricky.

technical indicators are simply a bias of entry as are other psychological methods like price action, yes there are price action algos as well but i personally feel it does not matter as long as the probability is high. of course this mean you have to pick a suitable market and suitable conditions for it to work. the computer does it's job well so long the trader recognizes conditions are exactly what it was programed for. which remind me this brilliant quote from my personal bible

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”
― Sun Tzu,
The Art of War
Quoting nitecop
{quote} technical indicators are simply a bias of entry as are other psychological methods like price action, yes there are price action algos as well but i personally feel it does not matter as long as the probability is high. of course this mean you have to pick a suitable market and suitable conditions for it to work. the computer does it's job well so long the trader recognizes conditions are exactly what it was programed for. which remind me this brilliant quote from my personal bible “If you know the enemy and know yourself, you need not fear...

Don't use either really, so kinda stuck on making a computer think and looking at the last 50 M1 Bars of data and looking for what I see basically to trade with, TRICKY.

Indicator based methods are too slow to react for my likings.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
Quoting Turveyd
{quote} Don't use either really, so kinda stuck on making a computer think and looking at the last 50 M1 Bars of data and looking for what I see basically to trade with, TRICKY. Indicator based methods are too slow to react for my likings.
I use to do that and I hated it, now i look at longer time frames and target swing traders; but because I've studied probabilities very well I have the same amount of patience as swing traders; i sleep well at night.
Quoting nitecop
{quote} I use to do that and I hated it, now i look at longer time frames and target swing traders; but because I've studied probabilities very well I have the same amount of patience as swing traders; i sleep well at night.

Haven't really got the motivation to effectively start again and create a H1 or above method, it's years realistically of trying things, coding, testing, working out the probability, optomizing and repeating.

Haven't got the money to make that kinda trading worth while either, I'd have to build the account via this method first then role it into that to retire of.


Feel free to PM me your EA ofcourse
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
Quoting Turveyd
{quote} Haven't really got the motivation to effectively start again and create a H1 or above method, it's years realistically of trying things, coding, testing, working out the probability, optomizing and repeating. Haven't got the money to make that kinda trading worth while either, I'd have to build the account via this method first then role it into that to retire of. Feel free to PM me your EA ofcourse
I just realized since i based my trading entirely on automated mathematical systems that makes me a quant!

Again, it's not the system that's important! if you wanted my system itself it is nothing but a simple and rudimentary function out there openly available on every site it's been around since the 50's. what matters is what you do with it.
Sweet! Two more guys on the brink of making it!

You both have a lock on that pinata.......
If you are good at something, never do it for free--Joker
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