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I have a profitable trading strategy. Should I quit my job?

  • #101
  • Oct 15, 2013 10:55pm Oct 15, 2013 10:55pm
yunden, is this a strategy that can be automated? If so, PM me, and I can write an EA for you.
  • #102
  • Oct 15, 2013 11:42pm Oct 15, 2013 11:42pm
Thank you for your comment. arvindeept.
I am a real guy and a short time trade. normally trade can be closed in only 30 minutes (you can check this in myfxbook). I also use an combined indicator to alert me to trade. so I don't have to wait before the screen for 24H/5D a week. I can sleep well. Is there any way other than currensee.com/myfxbook I can prove my trading skill? actually you can get the tick BEYFN in currensee is from my id here.

I am trading the way without drawdown (with stop loss, but no day loss) for 2.5 years. I also experienced one time blow off for $5000 before the strategy formed. although have succeed for over years, I finalized the strategy 6 months ago. my risk is at least 4 times lower than at the early time. I have been trading with this strategy for thousands times.

Attached is an email from currensee trade leader selection department, hope this can verify I am not just capturing other's trade record.



Quoting arvindeept
Well bro....kudos to you once again for being successful ......but one thing we need to guard against in life and also in trading is OVERCONFIDENCE and SELF-GLORIFICATION.......coz that invariably leads to one's downfall.......... And you know what.....many out here might be thinking ......Why doesnt this guy just give me this goddamm 'genie' trading strategy....... They wont realize 2 things....... 1. If u r genuine guy, which I assume you r, then U WUD HAVE ROGERED UR ASS DAY IN & DAY OUT 24 x 7 ......to finally home on to this strategy......also...
Attached Image (click to enlarge)
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  • #103
  • Oct 15, 2013 11:44pm Oct 15, 2013 11:44pm
Quoting myelbow4
yunden, is this a strategy that can be automated? If so, PM me, and I can write an EA for you.

thank you. I will consider it.
  • #104
  • Oct 16, 2013 1:57am Oct 16, 2013 1:57am
Hey Mate,
Just my two cents worth, if you want to become a full time trader then do it but do it with a good plan.
For example have at least a years income in the bank (I personally had 5 years income) and if you are making a $1,000 a week then pull the plug when you are making $4,000 a week with your trading because like it or not when trading becomes your sole income it does change the game.

Anyhow goodluck
Expatfx
  • #105
  • Oct 16, 2013 2:50am Oct 16, 2013 2:50am
Thank you! expatfx. I do have 5 years income. but I have confident in my strategy after over three years monitoring on forex market. I would put all the money in my account and try to put maximum leverage to 20:1, I am a short term trader, so this should not be problem, I would not wait loss to be over 30-50 pips. I understand most trader don't believe there is a strategy that can always beat the market, but I know it might be. hope every trader can beat the market/brokers.

Quoting Expatfx
Hey Mate, Just my two cents worth, if you want to become a full time trader then do it but do it with a good plan. For example have at least a years income in the bank (I personally had 5 years income) and if you are making a $1,000 a week then pull the plug when you are making $4,000 a week with your trading because like it or not when trading becomes your sole income it does change the game. Anyhow goodluck Expatfx
  • #106
  • Oct 16, 2013 4:40am Oct 16, 2013 4:40am
Quoting yunben
Thank you! expatfx. I do have 5 years income. but I have confident in my strategy after over three years monitoring on forex market. I would put all the money in my account and try to put maximum leverage to 20:1, I am a short term trader, so this should not be problem, I would not wait loss to be over 30-50 pips. I understand most trader don't believe there is a strategy that can always beat the market, but I know it might be. hope every trader can beat the market/brokers. {quote}
Good luck mate. Glad to know someone here making $$ with forex.
  • #107
  • Oct 16, 2013 6:49am Oct 16, 2013 6:49am
Quoting yunben
Hi, I am a senior engineer in an IT company with salary about USD$60,000. I have been trading Forex/gold/oil at part time after work time for two years. I developed a good strategy and applied it (it is countertrend). For the last 15 months, it works perfectly and makes consistent profit. The system includes when to enter the market, how to set stop loss, how to set stop profit. The temporary loss can be set to 15% with margin. The past profit is listed monthly as follows. part time trading only (manual trading after working hour). Forex.com account:...

Hi, don't mind can share your trading strategy here?
  • #108
  • Oct 16, 2013 1:37pm Oct 16, 2013 1:37pm
you've made it dude,Godspeed.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #109
  • Oct 17, 2013 4:07am Oct 17, 2013 4:07am
I also have a good strategy but I will never quit my job because just trading FX is too risky. Market is constantly changing and working system may not work and might need some adjustment. Especially if you have a family.
  • #110
  • Oct 21, 2013 9:33am Oct 21, 2013 9:33am
Forex market is very un predicatble and it is risky too so it is necessary that trader should get proper trading plans and strategies to earn reasonable profit from risky Forex market and trader should also focus on learning.
  • #111
  • Nov 4, 2013 2:22pm Nov 4, 2013 2:22pm
There are many considerations to make when making such a drastic move as those who have done so will no doubt be well aware.


Firstly, it goes without saying that 2-3 year's salary should be kept aside to act as a buffer and to ensure no adverse trading decisions are taken due to external financial constraints. Secondly and something rarely mentioned on these forums is the social aspect or lack of when going it alone. I made the jump 4 years ago after 11 years working as an institutional trader and it's a bit of a shock to the system when you no longer have any work colleagues around you and all of a sudden you are alone. The first few months are OK as you get a break from the daily grind of work, but after some time the loneliness does kick in.


Depending on the type of trading you do, my experience is that it isn't all roses and the impression created by most that you suddenly have all the time in the world to do other things is simply not the case. A significant part of my day is still spent maintaining and handling my strategies by hand, even though they are almost entirely automated I still prefer to check the execution by myself and this in itself is a full time job.


Having said all that I would never swap it for the world as trading is my life/passion and I see it more as a hobby than anything else. If one views it as a way to make ends meet or as a "job" then I think they are in danger of falling out of love with it very quickly. Yes I make healthy money from it but I do not see it as a job. I would quite happily develop/maintain/execute my strategies/models in my spare time if I had to, which I did for many years. Good luck.
  • #112
  • Nov 5, 2013 3:59am Nov 5, 2013 3:59am
Finally glad to meet a winner!
If you are making such profit doing your job side by side, then why leave it. Consider it as a bonus you know!
Or if you are confident enough, then you can open your own trading firm & handle millions of dollars. That will be super cool.
Discussion is an exchange of knowledge;argument is an exchange of ignorance
  • #113
  • Nov 14, 2013 11:13pm Nov 14, 2013 11:13pm
Quoting Scalptastic
I also have a good strategy but I will never quit my job because just trading FX is too risky. Market is constantly changing and working system may not work and might need some adjustment. Especially if you have a family.
Yes, as for me fx is also too risky to replace it with my during job) I think if I trade during 10 or 20 years I would decide to make fx like a main job.
  • #114
  • Nov 19, 2013 11:21am Nov 19, 2013 11:21am
Hi Guys, I am very new and raw to the trading market and if I listen and read all your messages I really envy you guys knowing all the stuff you know. Any help and advice will be appreciated. i am trading on mt4 platform with trader24. I do however think that the commission is very high that they do ask. Once I started trading and almost lost all the assistant just left me without any further help or trading. Can I leave my email address here? please help
  • #115
  • Feb 22, 2014 8:28am Feb 22, 2014 8:28am
Quoting yunben
Hi, I am a senior engineer in an IT company with salary about USD$60,000. I have been trading Forex/gold/oil at part time after work time for two years. I developed a good strategy and applied it (it is countertrend). For the last 15 months, it works perfectly and makes consistent profit. The system includes when to enter the market, how to set stop loss, how to set stop profit. The temporary loss can be set to 15% with margin. The past profit is listed monthly as follows. part time trading only (manual trading after working hour). Forex.com account:...
can You explain your system?
  • #116
  • Edited 11:27am Feb 22, 2014 10:54am | Edited 11:27am
This thread is old and the OP might not even read FF.com, but what he doesn't take into consideration is the fact that by trading full time, his trading conditions already become different and that might lead to consistent loses. He said he only traded London afternoon which is quite different in terms of price action compared to London opening. Moreover, he just countertrend scalps which is like playing with fire. I for sure know that it's more profitable to enter on a pullback following the trend, instead of trying to identify the pullback itself. Just look at ForexJay's records. In 2012 (when he posted) he was confident he could go full time trading. In 2013 disaster happened.

Don't be a muppet. Trade wisely.

Quoting ForexJay
I've been planning on "quitting" both of my day/night jobs, which add up to 80 hours a week... except 1 of them just laid me off (no fault of my own). My track record has been pretty stellar so I can understand why you would want to ditch the job. [...] here's what makes me confident.... http://www.myfxbook.com/members/dayt...7s8Bgkitp8ahgW
  • #117
  • Feb 22, 2014 4:24pm Feb 22, 2014 4:24pm
i am happy to hear this

my advice and what i am doing is simple

full time job is must (it is my insurance that my salary will come every money to pay my bills and loans )
forex + stocks = more income and i trans fare them ( most of it ) to open small business and some of it as saving in in my saving account

when i guarantee to generate like my salary (as minimum) and the job effecting my other (forex + stock + small business) i will quit

this is me
and sorry for my bad English because it is my second language
  • #118
  • Feb 23, 2014 7:02am Feb 23, 2014 7:02am
Let me get this straight. You have a family to support. You have a mortgage to pay. You have children to educate. Allow me to state the obvious. You are in no position to give up a predictable source of income until your house is paid for at the very earliest. When the roof over your head depends on your next trade you will know what crushing pressure is and it will take a toll on your health. You have plenty of time to take care of the really big stuff before you quit your steady income and take on the market. Wishing you all the best.
  • #119
  • Feb 25, 2014 8:39am Feb 25, 2014 8:39am
First of all, congrats on the success! You're strategy looks great! I (and probably most of the people reading this) hope to be where you are one day!

Secondly, why not wait a little while longer? See if you can make enough to cover 2-3 years worth of your families expenses AND have capital to trade with. I always figured that if I got that good I would pull 2-3 years worth of income out of my trading account and put it into some kind of no-risk savings account and then give my 2 weeks notice.

That's just my 2 cents! Best of luck to you however you decide to play it!
  • #120
  • Feb 25, 2014 9:32pm Feb 25, 2014 9:32pm
Quote
I have a profitable trading strategy. Should I quit my job?

NO the strartegy may be profitable today, tommorrow and etc, but can be a moment when it wouldn't be so.
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