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Do scalpers make money in the long run?

  • #221
  • May 17, 2014 11:36pm May 17, 2014 11:36pm
I haven't been to myfxbook for a while since the day I "figured out forex". Looking back at the top 10 system on myfxbook I see are "just bunch of scalping system that's in profit lol.." and what suprise me ..is that most are "real system"

This "scalp" Live system from berezhnoi interest me:

http://www.myfxbook.com/members/bere...rezhnoi/161079

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Real (USD), Technical, Manual, 1:100 , MetaTrader 4

  1. Monthly: 7.75%
  2. Drawdown: 42.01% <-- oh my god.. something like this should never succeed in "in the long run".

  1. Deposits: $17,5674.76
  2. Withdrawals: $38,3267.86 <-- that's alot of money withdraw lol

  1. Profit: $52,5901.28

Average Win: 8.70 pips / $370.38

Average Loss: -18.95 pips / -$611.59


As you can see the system have been successfully wining since 2010 and still wining today... with only a "72% win ratio" lol...

This just one of the example regarding to beat the market you have to be different than other people.

As good as I am now straight out 100%. I am lucky but not lucky (*cough* sacrasm on the lucky) as this berezhnoi guy.


Disclaimer, don't try to copy berezhnoi but just know that the possibility can be done....

  • #222
  • May 18, 2014 9:41am May 18, 2014 9:41am
Quoting victor_ray
I haven't been to myfxbook for a while since the day I "figured out forex". Looking back at the top 10 system on myfxbook I see are "just bunch of scalping system that's in profit lol.." and what suprise me ..is that most are "real system" This "scalp" Live system from berezhnoi interest me: http://www.myfxbook.com/members/bere...rezhnoi/161079 {image} {image} Real (USD), Technical, Manual, 1:100 , MetaTrader 4 Monthly: 7.75% Drawdown: 42.01% <-- oh my god.. something like this should never succeed in "in the long run". Deposits:...

Hi victor.Thanks for pointing this out to me.this guy makes only 1-5% a month and sometimes even less,any input on that
  • #223
  • May 18, 2014 10:35am May 18, 2014 10:35am
Well there are 2 ..guy ..the guy you posted earlier which I dissected his profit way...

But berezhnoi guy "hide his trade history and active order so people can't catch on to his trade or ride on his success" . There is nothing else I can input as far as he is one was able to "cheat the system , meaning having draw down -42% was able to recover to profit..and more"

None of the 2 guy I see their yearly track record..show them wining "on average 1-5%" they actually win more lot more..like 4-8% monthly.

So I don't know who is the 1-5% monthly guy you are talking about.

But I have stated in previous post that If you making 1-2% monthly you better go back to get a job/work. Until you have enough capital to risk more so that way you can achieve 5-10% monthly.
  • #224
  • May 18, 2014 3:40pm May 18, 2014 3:40pm
Luck and lucky-streaks can happen by accident, sure.

I make luck by design. I walk 2-3 hours a day, and as an older man living in a tropical place as I am in Guangzhou China, I sweat my tits off some times, and get soaking wet from typhoons at other times. But this daily stress prepares my mind for the focus I have when I do trade.

When you have mastered your strategy so that you trade profitably "without raising a sweat", AND you trade large lots per your account size; then you will never fear being poor ever again.

Your 50:1 leverage is totally unnecessary - your profile says you live in Australia. Australia has at least 2 excellent highly regulated (ASIC) ECN brokers that offer 400:1 leverage for maximum gains.

When you do go live, you do NOT need more than $200. I'm up $73,000,000 now, and I built that on the last $200 account that I did NOT blow up.

There's a LOT of dickheads on the forum side of FF. Spend most of your time on the http://www.forexfactory.com/news.php and http://www.forexfactory.com/calendar.php and you'll save a lot of your time.

Forget the twits here who think 2-15% a MONTH is somehow admirable. They simply speak "wanker" language.

Study the conventional wisdom, and then do NOT do that.

Make your own way.

Quoting AllanS
{quote} Thanks for this, Phil. Very interesting. To get a feel for it, I've been scalping a 50k demo account at full throttle (my broker 50:1) for a couple of weeks, on and off. I'm up 700% without breaking a sweat, and am now pushing 300 lots. A lucky streak? If I can nudge the demo up past 1 million, I'll try the same strategy with a small live account, and see how she goes. Cheers.
  • #225
  • May 18, 2014 4:10pm May 18, 2014 4:10pm
Quoting dancingphil
Study the conventional wisdom, and then do NOT do that. Make your own way. {quote}

I always put that as "Observe the masses and run the other way"....

Edison found 1000's of ways to NOT make a lightbulb...Heck, Why do you think WD-40 is called WD-40? ...cuz tries 1-39 didn't work...

At the end of the day, they didn't quit either. They sought after the vision they had vigorously and were rewarded for it.
"Holy Grail" exists - accepting where is the first step.
  • #226
  • May 18, 2014 4:34pm May 18, 2014 4:34pm
I'm a scalper since the beginning of my forex adventure and I make decent money most of the time. My usual TP is set 19,8 pips away and my average profit trade last year was between 9 and 10 pips on both of my accounts respectively.

Scalping should by theory be the most profitable way of making money in trading, according to the fractal theory (cf. Mendelbrot, How Long Is the Coast of Britain) and according to the success of HFT. The spread, of course, being the unpleasant lowest tradeable margin for us, retail traders
  • #227
  • May 19, 2014 12:50am May 19, 2014 12:50am
Quoting dancingphil
400:1 leverage
Hi Phil.

Another 50k this morning, scalping aud/usd. We're now trading 400 lots.

Just pondering the next big Tokyo earthquake... How do you manage the risk of a massive gap on high leverage, or are you willing to take it on the chin? Oanda's help-chat assures me I can't lose more than my deposit (I'll need to check that), but the leverage is far smaller. If it's true, however, it would greatly reduce the risk inherent in this sort of strategy.

Cheers.
  • #228
  • May 19, 2014 5:38am May 19, 2014 5:38am
No they dont, scalpers are giving money back to the market most of the time and brokers/banks are happy to make money from spread.
Tip for newbies, follow this guy twitter @fxmanagedfunds
  • #229
  • May 19, 2014 5:48am May 19, 2014 5:48am
You really are a parasite lol.

It's conventional wisdom that misleads people into thinking you can turn $200 into $73 million via a bit of scalping as you claim to have done.

Quoting dancingphil
Luck and lucky-streaks can happen by accident, sure. I make luck by design. I walk 2-3 hours a day, and as an older man living in a tropical place as I am in Guangzhou China, I sweat my tits off some times, and get soaking wet from typhoons at other times. But this daily stress prepares my mind for the focus I have when I do trade. When you have mastered your strategy so that you trade profitably "without raising a sweat", AND you trade large lots per your account size; then you will never fear being poor ever again. Your 50:1 leverage is totally...
  • #230
  • May 19, 2014 6:09am May 19, 2014 6:09am
Quoting dancingphil
Luck and lucky-streaks can happen by accident, sure. I make luck by design. I walk 2-3 hours a day, and as an older man living in a tropical place as I am in Guangzhou China, I sweat my tits off some times, and get soaking wet from typhoons at other times. But this daily stress prepares my mind for the focus I have when I do trade. When you have mastered your strategy so that you trade profitably "without raising a sweat", AND you trade large lots per your account size; then you will never fear being poor ever again. Your 50:1 leverage is totally...

Yes you are one of them that "simply speak".

200USD TO 70M. I do not thnik so. I have seen 100,000 turn to 10M in around 10 years but for to claim you have turned 200USD to 70M cannot be true. Brokers would give you loads of problems.
Tip for newbies, follow this guy twitter @fxmanagedfunds
  • #231
  • May 19, 2014 9:35am May 19, 2014 9:35am
Any idea why this shitty market is slow this month.Any input is welcome.The range for most of the pairs have fallen drastically in the last few months !!!!
  • #232
  • May 19, 2014 9:42am May 19, 2014 9:42am
Quoting dancingphil
Luck and lucky-streaks can happen by accident, sure. I make luck by design. I walk 2-3 hours a day, and as an older man living in a tropical place as I am in Guangzhou China, I sweat my tits off some times, and get soaking wet from typhoons at other times. But this daily stress prepares my mind for the focus I have when I do trade. When you have mastered your strategy so that you trade profitably "without raising a sweat", AND you trade large lots per your account size; then you will never fear being poor ever again. Your 50:1 leverage is totally...
You sound like one of those info-mertrials you hear if you wake up in front of the tv at 3am.

Sounds nice... But you know it's just another hustle. Wow red flag , does that signal "danger" ?
like totally failure brah
  • #233
  • May 19, 2014 9:44am May 19, 2014 9:44am
Quoting simonb
{quote} You sound like one of those info-mertrials you hear if you wake up in front of the tv at 3am. Sounds nice... But you know it's just another hustle. Wow red flag , does that signal "danger" ?
Lol I just saw the $70 ,000,000 part lmao.

Now I get it ! One of the forum "entertainers " I see ?
like totally failure brah
  • #234
  • May 19, 2014 9:49am May 19, 2014 9:49am
Question: Who earns 70m from the markets, puts their face in an avatar and then goes on a public forum to tell the world about it?

Answer: Someone not smart enough to earn 70m from the markets.

Is this a joke? Seriously , I'm new here
like totally failure brah
  • #235
  • Edited 2:37pm May 19, 2014 2:16pm | Edited 2:37pm
Why the skepticism to go from $200 to $70 million?
I'm not saying he did but it's possible he did.
If you double a penny everyday for 30 days you have over $5 million. If his win rate is high & large numbers don't change his trading it could have taken several years but possible considering the penny doubling example.

Paul Tudor Jones & George Soros made billions from trading/investing. Phil's got a long way to go to reach those levels.

Why would someone spend time chatting on FF with that much money? Some traders just "enjoy the game". Look at Charles Barkley, Magic Johnson, Dan Marino, Shaquille Oneal, etc........ They all sit on TV giving their analysis of the sporting events & I'm sure they don't need the money. They just love the game so enjoy talking about it.

  • #236
  • May 19, 2014 2:43pm May 19, 2014 2:43pm
Quoting dancingphil
I'm up $73,000,000 now, and I built that on the last $200 account that I did NOT blow up. There's a LOT of dickheads on the forum side of FF. . {quote}
That is so true...
  • #237
  • May 19, 2014 5:46pm May 19, 2014 5:46pm
Quoting simonb
Question: Who earns 70m from the markets, puts their face in an avatar and then goes on a public forum to tell the world about it? Answer: Someone not smart enough to earn 70m from the markets. Is this a joke? Seriously , I'm new here
Different (multiple) username...same bullshit. Reported CindyXXXX / Wolf_Wicked / simonb
Doing what you like is Freedom. Liking what you do is Happiness.
  • #238
  • May 20, 2014 12:13am May 20, 2014 12:13am
well I guess scalpers do make money
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All human being are Children of GOD - Thanking GOD for everything.
  • #239
  • May 20, 2014 1:19am May 20, 2014 1:19am
It doesn't matter to me if scalpers make money or not, I don;t care how much money other people make or loose, what I care about is if I can sustain a living by trading forex.
  • #240
  • May 20, 2014 2:16am May 20, 2014 2:16am
Quoting simonb
Lol I just saw the $70 ,000,000 part lmao. Now I get it ! One of the forum "entertainers " I see ?
I was interested in what he said. Perhaps he's an exceptional trader who's feeling generous? Where's the harm in testing his claims by giving it a go?

Since April 28, trading on and off (I've other things to do), I've turned 50k (demo) into 463k, using 50:1 leverage, trading large lots at full throttle, mostly using longer term support and resistance. It looks hopeful so far. It may well be luck. We'll know soon enough.
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