Disliked{quote} The guy aiming for 4 ticks has an initial stop of 12 ticks. However, that is primarily a catastrophe stop and will exit if things aren't looking right - his average actual loss is ~7.5 ticks. After earning some money each day, he will switch to taking a partial profit at 4 ticks and leaving runners for larger gains. His success rate to first target hovers at about 90%. The guy taking 3-6 pips does not place stop orders, but exits at around 3-5 pip losses, sometimes less, again, if things aren't looking right. Both have an excellent understanding...Ignored
Do scalpers make money in the long run?
- #205
- May 4, 2014 1:12am May 4, 2014 1:12am
- | Joined Feb 2013 | Status: Trader | 1,365 Posts
my disaster stop is 7 pips and average loss 2 pips. Original stop hit in less than 10% of trades.
lately due to low volatility scalping system not working and turned off.
only play majors. I turn it off after 3 risks down from the high so wont see large drawdown here
it is surprising what can be done consistency wise in such a short frame.
regarding phil, I am not sure regarding his size. just seem fantastic that large boys would not go after this annoyance and punish him.
seen that before.
lately due to low volatility scalping system not working and turned off.
only play majors. I turn it off after 3 risks down from the high so wont see large drawdown here
it is surprising what can be done consistency wise in such a short frame.
regarding phil, I am not sure regarding his size. just seem fantastic that large boys would not go after this annoyance and punish him.
seen that before.
- #207
- May 4, 2014 4:58am May 4, 2014 4:58am
- | Membership Revoked | Joined Jul 2013 | 4,068 Posts
Wherever you go, there you are.
- #208
- May 4, 2014 5:00am May 4, 2014 5:00am
- | Commercial User | Joined Jan 2011 | 4,044 Posts
to be honest scalping is the only way to make quick money in forex, and yes I know many great scalper who makes living out of scalping. even I am a scalper, I got inspired from my uncle who is in US and he scalps only one pair which is EUR/USD he understands that currency very well and he scalps hell out of it, I got impressed by scalping when I saw his trading statement almost 10k profits on daily basis. I am trading comparatively small account then him which is just 5k so I make relatively small amount at this moment. I am just concentrating on...
- #209
- May 4, 2014 5:01am May 4, 2014 5:01am
- | Commercial User | Joined Jan 2011 | 4,044 Posts
yeah nice article. The Ren Tech funds are most impressive, I've read books about them. Very tight-closed group primarily managing their own funds.
- #210
- May 4, 2014 2:41pm May 4, 2014 2:41pm
- | Additional Username | Joined Apr 2014 | 1,220 Posts
My Best Trade is Next Trade!
- #216
- Edited 10:36pm May 17, 2014 4:38pm | Edited 10:36pm
- | Joined Aug 2008 | Status: Trader | 264 Posts
At first I was just going to read the 1st 2 page and then answer the topic title...
But during the 1st 2 page of post I see heavy criticize, trashing, impossible claim, and people who could have done better but didn't know the possibility exist.
So I end up "really wasting my time reading all the post so I can just answer all this in one go.. then I am done with this thread"
Q1: Do Scalper make money in the long run? and how?
A1: Yes, do not use a stop loss and buy and hold forever.
Q2: Is it possible to even make 25% per month on an average consistently?
A2: Yes it's possible if you have a really good winning system
Q3: Is 2% compound daily average possible?
A3: Yes, anyone who can achieve that will own the holigrail... (note this is the only way to get rich from small account say 2000$ capital)
Q4: Do you think 2% Monthly is a Good goal?
A4: No, I agree with Davit time is valuable. If you can go to work 8$ per hour and make MORE THAN Forex ..you just go to work...
Q5: If 2% monthly is not a good goal then what % is a good monthly goal?
A5: if you are a "great retail trader" you should be making 10%-15% monthly on average
Q5: Mindgame claim: 99.9% people on ff thread starter don't have live explorer account to backup their talk.
A5: That's true, but who would have time to try to prove to themself to people on this forum it's not like proving that I am wining to you is going to make me a better trader automatically. However I do feel the "TRADING SYSTEM thread author SHOULD put a trade explorer to prove their system win in the LONG RUN."
I read and have tried MANY forex factory system and I will say this They do NOT PROFIT OVER THE LONG RUN with the RULE set by the author. If only the Author put a trade explorer for his fan/follower to see.. I bet they would be disappointed.
Q6: How do I trade to make profit.
A6: The truth is 90% of the my profit come from scalping, 10% profit come from holding profit for 1-2 day.
I use like 6 system at a time and Many time, I BREAK THE RULE OF MY OWN SYSTEMs just for the sake of profit or lower the loss.
To make long story short: My Entry is random but mostly the entry is usually because I FEEL PRICE is Cheap so I BUY and hope for the best.
A7: Are you ever going to display your 6 forex system?
A7: No. That will never happen. I don't predict the market ... I just buy cheap price and hold forever to win.
Q8: Do you even have a 2 to 3 year track record lol?
A8: What wouldn't I?, everyone who ever own live account the track record have already BEGUN the day you first open a live trading account.
This is my live result from my live account since: August 4, 2011 up to May, 17,2014.
Just a note: I fist start in forex August 2008, My standard account I have lost about 10,000$ live money within 2 week. So I keep trying BEAT the market learning EVERYTHING I can freely obtain in knowledge and advice. During the 2008-2009 I lost lot of money on A "standard live account" Having ZERO live money left and WITH NO JOB. I am force to play and learn how to beat the market on demo from 2009-2011. Then I get a part time job around June 2011, Save money and then start a "MINI account to be able to bet in cents". And so you have it... August 4,2011, till May 17,2014, This is what I "take back from the market that I lose...in my newbies year. I will definitely take all my loss back in due time. Forex has become a point where I don't even feel I can lose anymore to tell you the truth. (All though I will alway be reminded that GREED will destroy you sooner or later.. so I STILL DO Have be careful of over leverage as I have lost 10,000$ before. How is my risk ? Let's just say I am usually correct in my entry where I can afford to play MEDIUM risk 20-30% leverage without any fear that I lose consistently).
This is all I can post don't even bother asking me to upload the full detail statement of my 2955 trades over the course of 3 year live trading...
You should be able to already have enough data on the summary to see how I profit (remember 90% of them are scalp and 10% of the trade are hold for 1-2 day profit because I have high hope it would win....)
----
P.S: I am not in the forex market to make chump change. My goal have alway been to be come millionaire trading forex from a small account.
And my "All time ambition is to achieve 2% profit on daily average". I have tried before but I failed in 2 week. But I did attempt it so I know it's possible to make 2% daily on an average base. All I need to do is work on "better probability entry then I am set to fast riches"
Anyway, Best of luck to many retail trader fight your losing destiny.
But during the 1st 2 page of post I see heavy criticize, trashing, impossible claim, and people who could have done better but didn't know the possibility exist.
So I end up "really wasting my time reading all the post so I can just answer all this in one go.. then I am done with this thread"
Q1: Do Scalper make money in the long run? and how?
A1: Yes, do not use a stop loss and buy and hold forever.
Q2: Is it possible to even make 25% per month on an average consistently?
A2: Yes it's possible if you have a really good winning system
Q3: Is 2% compound daily average possible?
A3: Yes, anyone who can achieve that will own the holigrail... (note this is the only way to get rich from small account say 2000$ capital)
Q4: Do you think 2% Monthly is a Good goal?
A4: No, I agree with Davit time is valuable. If you can go to work 8$ per hour and make MORE THAN Forex ..you just go to work...
Q5: If 2% monthly is not a good goal then what % is a good monthly goal?
A5: if you are a "great retail trader" you should be making 10%-15% monthly on average
Q5: Mindgame claim: 99.9% people on ff thread starter don't have live explorer account to backup their talk.
A5: That's true, but who would have time to try to prove to themself to people on this forum it's not like proving that I am wining to you is going to make me a better trader automatically. However I do feel the "TRADING SYSTEM thread author SHOULD put a trade explorer to prove their system win in the LONG RUN."
I read and have tried MANY forex factory system and I will say this They do NOT PROFIT OVER THE LONG RUN with the RULE set by the author. If only the Author put a trade explorer for his fan/follower to see.. I bet they would be disappointed.
Q6: How do I trade to make profit.
A6: The truth is 90% of the my profit come from scalping, 10% profit come from holding profit for 1-2 day.
I use like 6 system at a time and Many time, I BREAK THE RULE OF MY OWN SYSTEMs just for the sake of profit or lower the loss.
To make long story short: My Entry is random but mostly the entry is usually because I FEEL PRICE is Cheap so I BUY and hope for the best.
A7: Are you ever going to display your 6 forex system?
A7: No. That will never happen. I don't predict the market ... I just buy cheap price and hold forever to win.
Q8: Do you even have a 2 to 3 year track record lol?
A8: What wouldn't I?, everyone who ever own live account the track record have already BEGUN the day you first open a live trading account.
This is my live result from my live account since: August 4, 2011 up to May, 17,2014.
Just a note: I fist start in forex August 2008, My standard account I have lost about 10,000$ live money within 2 week. So I keep trying BEAT the market learning EVERYTHING I can freely obtain in knowledge and advice. During the 2008-2009 I lost lot of money on A "standard live account" Having ZERO live money left and WITH NO JOB. I am force to play and learn how to beat the market on demo from 2009-2011. Then I get a part time job around June 2011, Save money and then start a "MINI account to be able to bet in cents". And so you have it... August 4,2011, till May 17,2014, This is what I "take back from the market that I lose...in my newbies year. I will definitely take all my loss back in due time. Forex has become a point where I don't even feel I can lose anymore to tell you the truth. (All though I will alway be reminded that GREED will destroy you sooner or later.. so I STILL DO Have be careful of over leverage as I have lost 10,000$ before. How is my risk ? Let's just say I am usually correct in my entry where I can afford to play MEDIUM risk 20-30% leverage without any fear that I lose consistently).
This is all I can post don't even bother asking me to upload the full detail statement of my 2955 trades over the course of 3 year live trading...
You should be able to already have enough data on the summary to see how I profit (remember 90% of them are scalp and 10% of the trade are hold for 1-2 day profit because I have high hope it would win....)
----
P.S: I am not in the forex market to make chump change. My goal have alway been to be come millionaire trading forex from a small account.
And my "All time ambition is to achieve 2% profit on daily average". I have tried before but I failed in 2 week. But I did attempt it so I know it's possible to make 2% daily on an average base. All I need to do is work on "better probability entry then I am set to fast riches"
Anyway, Best of luck to many retail trader fight your losing destiny.
