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Do scalpers make money in the long run?

  • #41
  • Apr 24, 2014 12:22pm Apr 24, 2014 12:22pm
DancingPhil, would you be kind enough to send me a PM or hit me up on skype at jamesr242424. I also trade fairly big lots as a reverse scalper but I have a couple brief questions. Thanks for the time...james
Enter Signature
  • #42
  • Apr 24, 2014 2:35pm Apr 24, 2014 2:35pm
Quoting dancingphil
I most certainly do. I am not only a scalper, but also a Counter Trend (CT) scalper..... I generally average 200% to 300% profit per week. {quote}
I find it humorous when people post these audacious claims without actually knowing what they are saying, let me break it down for you.

52 weeks in 1 year.
$1000 starting balance

200% returns per week starting with $1000 compounded generates:

2 weeks
$9,000

10 weeks
$59,049,000

26 weeks
$2,541,865,828,329,000

I think this concludes that you are talking out of your anus.
  • #43
  • Apr 24, 2014 3:09pm Apr 24, 2014 3:09pm
How can i know that is the time for scalpering . Any ea wthich it can down automatic .
  • #44
  • Apr 24, 2014 3:10pm Apr 24, 2014 3:10pm
Quoting TranceTrader
{quote}I think this concludes that you are talking out of your anus.
Exposed! :nerd:
  • #45
  • Apr 24, 2014 3:16pm Apr 24, 2014 3:16pm
scalping with an ECN with low spreads oversold, overbought zones, tight stop loss why not,

there is now a word called "High Frequency Trading" , not every high frequency trading order know about the big fish trades.
  • #46
  • Apr 24, 2014 3:28pm Apr 24, 2014 3:28pm
Quoting mindgame
Nobody makes money in these kind of forums atleast 99.99 % in this forum are fake all those thread starters dont make money in the long run.all fake trying to show big and rape them at the end.
Since logically you have not seen everyone accounts your statement is total nonsense.
I average 8-10+% a month (below my April results)
Never started a system thread....

http://www.forexfactory.com/attachme...1&d=1397839260
In trading, you have to be defensive and aggressive at the same time
  • #47
  • Edited 3:56pm Apr 24, 2014 3:44pm | Edited 3:56pm
Quoting TranceTrader
{quote} I find it humorous when people post these audacious claims without actually knowing what they are saying, let me break it down for you. 52 weeks in 1 year. $1000 starting balance 200% returns per week starting with $1000 compounded generates: 2 weeks $9,000 10 weeks $59,049,000 26 weeks $2,541,865,828,329,000 I think this concludes that you are talking out of your anus.
I think what he does is he takes xxx account to certain profit then he withdraws all profits and starts another from base number again.
Since not all accounts automatically hit profit he repeats this process until profits overall reached.So he does not compound automatically.
Its doable.
I read he started with 200
max leveraged 1 trade either blows the account or makes great profit
I think he blew many 200 accounts until one became a runner.I am sure he trades bigger then 200 now but he started with 200 according what I read.
There are few here at FF do similarly like forexsaint
http://www.forexfactory.com/forexsaint
The guy has my respects.He took many accounts to fantastic profits from modest sizes documented.
In trading, you have to be defensive and aggressive at the same time
  • #48
  • Apr 24, 2014 3:58pm Apr 24, 2014 3:58pm
Quoting grin
{quote} Exposed! :nerd:
nothing is exposed.Just admit you have no information to make a judgement
In trading, you have to be defensive and aggressive at the same time
  • #49
  • Apr 24, 2014 4:05pm Apr 24, 2014 4:05pm
Trancetrader, what you are suggesting is interesting but not too far from the truth. Your 2 week and 10 week examples are doable and realistic, your 26th week is not. And the reason why you cannot run the account up to those 26 week numbers is because of the lack of liquidty or better the inability of being able to match out those jumbo orders to get to that money level in 26 weeks. Remember, we are talking about scalping not building up positions in a certain pair. You are jumping in and out of the market. So your orders need to be matched out quickly. And for what it is worth you most definately can trade up your account to significant levels and then withdraw a chunk of your money and then do it again. In the example of dancingphil, he mentioned he trades over 5 different accounts. Most scalpers/traders that trade well have multiple accounts with their money spread around.
Enter Signature
  • #50
  • Apr 24, 2014 4:16pm Apr 24, 2014 4:16pm
Quoting Davit
{quote} I think what he does is he takes xxx account to certain profit then he withdraws all profits and starts another from base number again. Since not all accounts automatically hit profit he repeats this process until profits overall reached.So he does not compound automatically. Its doable. I read he started with 200 max leveraged 1 trade either blows the account or makes great profit I think he blew many 200 accounts until one became a runner.I am sure he trades bigger then 200 now but he started with 200 according what I read. There are few...
Do I need to repeat the example of how he would become the richest man in the in world in 6 months if he was telling the truth?
  • #51
  • Apr 24, 2014 4:21pm Apr 24, 2014 4:21pm
Quoting TranceTrader
{quote} Do I need to repeat the example of how he would become the richest man in the in world in 6 months if he was telling the truth?
Its relative
200% of 10k account risking 25% equity is easier then doing the same on 500k account.
I think smaller the account it is easier to hit huge %
Since I don't have evidence if he is lying I have no right to judge.There is so much about trading.I often risk more then 2% often advised from trading books but I think that's limiting.
He risks lot more so he has a chance to win lot more as well.He did mention he uses very tight stops.
In trading, you have to be defensive and aggressive at the same time
  • #52
  • Apr 24, 2014 4:30pm Apr 24, 2014 4:30pm
Quoting jamesr24
Trancetrader, what you are suggesting is interesting but not too far from the truth. Your 2 week and 10 week examples are doable and realistic, your 26th week is not. And the reason why you cannot run the account up to those 26 week numbers is because of the lack of liquidty or better the inability of being able to match out those jumbo orders to get to that money level in 26 weeks. Remember, we are talking about scalping not building up positions in a certain pair. You are jumping in and out of the market. So your orders need to be matched out...
You need to think about what would motivate someone who could make $59 million dollars from a $1000 stake in 2.5 months to come on a novice retail forex forum.

To give you some perspective, the top hedge fund in the world made 86% last year over 12 months http://www.bloomberg.com/news/2014-0...obamacare.html

If you still think jokers on this forum can make 200% a week then it's not worth carrying on the conversation.
  • #53
  • Apr 24, 2014 4:32pm Apr 24, 2014 4:32pm
Quoting Davit
{quote} Its relative 200% of 10k account risking 25% equity is easier then doing the same on 500k account. I think smaller the account it is easier to hit huge % Since I don't have evidence if he is lying I have no right to judge.There is so much about trading.I often risk more then 2% often advised from trading books but I think that's limiting. He risks lot more so he has a chance to win lot more as well.He did mention he uses very tight stops.
200% on a 10k account now. He could buy the world in 6 months.

WAKE UP PLEASE
  • #54
  • Apr 24, 2014 4:39pm Apr 24, 2014 4:39pm
Quoting TranceTrader
{quote} 200% on a 10k account now. He could buy the world in 6 months. WAKE UP PLEASE
Not when you withdrew profits and back to 10k again and start again risking 25%
I reserve judgement.
In trading, you have to be defensive and aggressive at the same time
  • #55
  • Apr 24, 2014 4:47pm Apr 24, 2014 4:47pm
Quoting Davit
{quote} Its relative 200% of 10k account risking 25% equity is easier then doing the same on 500k account. I think smaller the account it is easier to hit huge % Since I don't have evidence if he is lying I have no right to judge.There is so much about trading.I often risk more then 2% often advised from trading books but I think that's limiting. He risks lot more so he has a chance to win lot more as well.He did mention he uses very tight stops.
Davit, fuckwits like TranceTrader are not worth your time mate. He's been here a year, and he invents his story about me as he goes along.

The point you have made that this typical dickhead will never read is that I do NOT scale up my trades, and have not done so for more than 1 year. I trade 500 lots, I do that with my trusted brokers, and I take out my money each and every week.

There will come a time that I will scale my trading size upwards. But that will be my decision then. For now I simply take my profits out each week.

NOTHING I have ever said has ever suggested I started trading 2.5 months ago, nor that I started with $1,000. Indeed I did start my trading career MANY years ago, and I did blow up 7 x $200 before I didn't blow up my eighth. Then again, I did blow up my weekly starting of $200,000 4 times last year too. Yet I also took out $27,000,000 last year too.

I trade 400:1. I trade 2.5 lots per $1,000 of my account from the start of my trading week. I have 5 x Forex accounts between my brokers. Each account at the beginning of the week I reset to be at $40,000 for each of them. I run trade-copier software such that I click one button and all 5 accounts are traded simultaneously.

My system is not broken, so I don't fix it.

And by Friday, as a general rule I withdraw $400,000-$600,000 as my average profits to take my accounts back to the aggregate $200,000 level between the 5 accounts ready to start the new week again.

It's not complicated.
  • #56
  • Apr 24, 2014 4:54pm Apr 24, 2014 4:54pm
Quoting dancingphil
{quote} Davit, fuckwits like TranceTrader are not worth your time mate. He's been here a year, and he invents his story about me as he goes along. The point you have made that this typical dickhead will never read is that I do NOT scale up my trades, and have not done so for more than 1 year. I trade 500 lots, I do that with my trusted brokers, and I take out my money each and every week. There will come a time that I will scale my trading size upwards. But that will be my decision then. For now I simply take my profits out each week. NOTHING I...
Could learn lot from you. I am 100% counter trader and I get lot of shit from trend traders myself.
Best of luck
In trading, you have to be defensive and aggressive at the same time
  • #57
  • Edited Apr 25, 2014 5:25am Apr 24, 2014 5:19pm | Edited Apr 25, 2014 5:25am
dancingphil... please don't assume that because the username I'm using was registered 12 months ago also means I've be frequenting these forums and others alike for the same period...because you'd be assuming incorrectly. Screen name registration dates aside... you're an absolute twat based on your latest (deliberately misleading) reply... it reeks of scam.

You're talking to someone who knows the ropes so wind your neck in. You can tell your stories to the uninitiated for whatever warped personal reasons you have but please don't try and talk shit to people who understand finance. Tell me mate, why don't you just compound your return for 6 months and become the richest man in the world??? oh I know why... *because you don't want to fix something that isn't broke*.... how responsible of you.

I suspect you're one of the usual clowns looking for unique "students" to share your "gift" with... pathetic cretin.
  • #58
  • Apr 24, 2014 9:08pm Apr 24, 2014 9:08pm
any ea and indicater for sclapering
  • #59
  • Apr 24, 2014 10:17pm Apr 24, 2014 10:17pm
As to the claims of DancingPhil, I cannot speak. I can vouch for another member who has commented on this thread trading big size and making big money, so there is no reason to doubt Phil. Either way, Trance you are taking everything out of context.

First, Did you read that article concerning the top hedge fund? They were managing $1.8B. Trading $1.8B would require drastically more liquidity than it would take to trade a $200,000 account. Assuming Phil takes trades at 500 lots on every trade and makes 200% every week, he would be averaging 80 pips a week (on the EU). If Phil were to be trading that size on a $1.8B account, his annual return (assuming consistent sizing) would be only 1.16%. So it is likely that that hedge fund manager is a better trader. Doesn't mean Phil is not an excellent trader, and certainly doesn't mean that Phil is lying.

Second, you wrote something along the lines of "10,000$ account with 200% return would make Phil the richest man in the world". No, it would make him have a total of $30,000.

Third, Phil clearly stated that he resets his accounts to total $200k each week. Therefore, earning 200% on that base will ALWAYS be the same amount and same return unless and until he changes his starting balance. If he were to be accruing his gains in his accounts, his % return would be diminishing given he trades the same size each week. If he were to take $200k, make 200% of $200k each week ($400,000), he would end with $20.8M at the end of the year. If he were trading with the same size and expectancy at the end of that year as the beginning, he would only be returning 1.92% per week. %ROA is all relative to your account balance.

Lastly, all these compounding spreadsheets assuming infinite liquidity are completely incorrect. As portrayed in the hedge fund example, you cannot increase your trading size to infinity. Therefore you need to build in a max lot limiter in your spreadsheets. The most I personally know someone to have traded is 100 lots, but obviously more is possible (500 has been stated in this thread). At some point, you simply cannot increase trading size with affecting your fills, especially when dealing with such a minute time frame.

Thanks for posting Phil - its always nice to have something to look forward to. Its always those that have been trying too long and that are still unsuccessful that start claiming that everyone else is fake. People make money in this business - someone is taking the opposite side of your losses Trance.
Small disciplines repeated with consistency lead to great achievements.
  • #60
  • Apr 24, 2014 10:55pm Apr 24, 2014 10:55pm
Quoting dancingphil
{quote} I'm sure it would be totally against FF rules to recommend a broker they are not getting paid from advertising. I can say that the ASIC in Australia has fantastic regulation over brokers. And that Pepperstone and Axi Trader do wonderfully well in that tightly regulated environment. No, they are not stupid; they will not accept USA clients who are living in the USA.


You throw around 400-1 with 200k and then you mention bucketshops in this post because they are a paying FF customer?

Who
The
Fuck
Are
You
Trying
To
Kid?

Was Guangzhou recently moved to Nigeria or away from it?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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