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Are there any Large Lot Traders here?

  • #141
  • Sep 23, 2014 9:56am Sep 23, 2014 9:56am
To DancingPhil, how you managed hedging during high impact news? Sometimes broker playing tricks.
I know that peppersto* often widen the spread up to 20 even 30 pips during nfp, or rate decision and they margin called your position because no free margin left even you are in hedging.
  • #142
  • Sep 23, 2014 10:48am Sep 23, 2014 10:48am
Why was dancingphil temporarily banned?
  • #143
  • Sep 23, 2014 11:01am Sep 23, 2014 11:01am
Quoting FXMasterSK
Why was dancingphil temporarily banned?
Why did the chicken cross the road?
  • #144
  • Sep 23, 2014 11:13am Sep 23, 2014 11:13am
Quoting realjumper
{quote} It is extremely poor form to accuse someone with ZERO evidence. I have never seen Phil solicit anyone for any reason here at FF......if anyone has the evidence of scamming or seeking people to pay to use his alleged system....man up and produce the proof...else, shut up!
They start with an innocent question and then suck in as much stup newbies as they can who overtime will now be practically eating from their palms. somewhere arround this stage they then introduce a wonder EA with secret weapons that very few millionaires know about and at this stage they direct all interested stups to a different private chat room where they'll eventually be slaughtered. The next time youll hear from the stups is when they come back here to complain about the scam to FF mods and the general public.
  • #145
  • Sep 23, 2014 11:13am Sep 23, 2014 11:13am
Quoting Makavell
{quote} Why did the chicken cross the road?
Because Ray Charles told it to hit the road
  • #146
  • Sep 23, 2014 11:15am Sep 23, 2014 11:15am
[quote=dancingphil;7756061]
@ Insomniawawa; What you believe or not is not relevant. You are not a large lot trader. I am not here to convince any trolls of anything, nor to sell anything. For the record though, I make 2.5% per PIP of profit, not 3.38% per DAY.

Ok, it is just my opinion in general, not in your case. I'm definitely not a large lot trader, because I usually trade 0,1-0,2 lot for every $1000 with tight SL and I don't have millions of dollars so far I'm just curious how do you keep a stiff upper lip when trading so big volume? Do you use some mental exercises?
BTW, 3,38% it's just percent you need to earn everyday for 11 months to make 150000%. I said it just to picture sb. that it isn't so much if you reinvest all profits.
  • #147
  • Sep 23, 2014 11:19am Sep 23, 2014 11:19am
Quoting Makavell
{quote} They start with an innocent question and then suck in as much stup newbies as they can who overtime will now be practically eating from their palms. somewhere arround this stage they then introduce a wonder EA with secret weapons that very few millionaires know about and at this stage they direct all interested stups to a different private chat room where they'll eventually be slaughtered. The next time youll hear from the stups is when they come back here to complain about the scam to FF mods and the general public.
You are wise beyond your years young man!
  • #148
  • Sep 23, 2014 11:41am Sep 23, 2014 11:41am
What does large lot even mean? As far as I can tell, many new (and even plenty of 'experienced) traders trade large lots...large as in size vs the size of their account.

I really don't see how it would change significantly* trading a 2, 20 or 200 lot...as long as your capital is of a reasonably scaled size. I would guess that people who trade at larger sizes can actually scale back the % size of their lot sizings slightly, in order to reduce risk a bit more than they traded when they started out.

I only can compare against the first two sizes, but it was actually the lack of 'growth' from the smaller lot size positions that actually made it more difficult to restrain myself from putting on more (or larger) lots, which were out of proportion (and thus far riskier) to my captial.


Otherwise, is someone just looking for some hard 'evidence' of a large account being used to fund forex? I'm sure they exist, but why would they bother posting here...or posting their account details/trade activity.


* Ok, perhaps there will be a slightly increased level of pressure/stress, but that can be minimised by reducing the lot size slightly in relation to the account.
  • #149
  • Sep 23, 2014 11:51am Sep 23, 2014 11:51am
Hello
I see your account has been suspended and as far as I know it may take even over a month to unlock.
I have few questions if you don't mind?

Aren't you afraid to show your face in avatar and tell people how much you own? I mean it is dangerous IMO, you never know who's on the other side of screen and there are people who would kill for less than 1% of what you say you have (I am not one of them)

You wrote you hold large amounts of gold - aren't you afraid that if crisis starts whoever holds your gold won't give it back for you? (I am guessing you don't hold those kgs of gold under your bed ;-))

When did you started and how long it took you to become successful?

Why do you care to mentor people? I mean, if what you say is true you are rich and with proper attitude towards money you can live work free for probably 1000 years. Why do you still trade? aren't you stressed with it?

Are you the famous Jacko as somebody mentioned before?

I realise you are banned but hope you will answer some day
On my way to financial independence - if others can do it - I can do it
  • #150
  • Sep 23, 2014 12:34pm Sep 23, 2014 12:34pm
So FF banned the guy but left forum open so anyone can spit on the guy? That is really mature.
  • #151
  • Sep 23, 2014 1:07pm Sep 23, 2014 1:07pm
Quoting IndigoPingvi
So FF banned the guy but left forum open so anyone can spit on the guy? That is really mature.
I am not spitting at him, but don't you think it is weird that guys says exactly how much he has? and ignores everybody who says anything even a bit against him?
On my way to financial independence - if others can do it - I can do it
  • #152
  • Sep 23, 2014 1:18pm Sep 23, 2014 1:18pm
Well he has a mileage on FF and I do understand why he ignores criticism. I would really like him to show his account stats and shut people down for good.
  • #153
  • Sep 23, 2014 2:29pm Sep 23, 2014 2:29pm
Quoting dancingphil
@ 4thw; 2008, joined here 2009. @ grin; 5.3 Trillion dollars a day in average Forex volume. That's 53,000,000 lots of trading, per day AVERAGE. Sure, take out options, futures etc. Take out pairs I am not trading too. Still in the order of 10,000,000 lots of trading per day. My 500 lots is a drop in the bucket, and makes no ripple at all when I open trades. @ anthm; No problems. I eat trolls for breakfast. @ pipinit; Thank you. I was hoping with this thread to attract some into discussion, but I can see that was probably a futile idea. @ machinator;...
This all makes much more sense to me now that you've explained further that you're not placing one 500-lot trade through one broker itself (!), but divvying up 500 lots across 200 trades. I too was astounded that anyone here, as a self-trader (rather than institutional trader) was doing 500 lots, which would be $5,000 a pip! The most I've ever dreamed of achieving is getting to placing 50 lot trades! I agree with your outlook that the way to really strike it big is to scale up with the lots. Where I am now, hell I'd be extremely happy with $500 a pip - that'd come out to a 6-figure annual salary with just one trade a day making 1 pip alone!! (2 pips and I'd definitely be full 6-figures after even giving the taxman his cut!!) But I don't have that amount of capital as yet to trade such numbers of lots.
Enter Signature
  • #154
  • Sep 23, 2014 2:32pm Sep 23, 2014 2:32pm
so can someone, who has read this thread in its entirety, in a sentence or two, tell me what the hell its about...
Look Sharp/Trade Tight
  • #155
  • Sep 23, 2014 2:36pm Sep 23, 2014 2:36pm
Quoting hfTrader
{quote} since when is guangzhou in the south east? I've been to guangzhou countless times and it's nowhere east. 5000*100,000USD = 500,000,000 so thats 500 million dollars. For this kind of size you'd have to go inter bank and very often even they can't do it in one shot. Please, whatever you do, do not send money over the internet to someone you don't know.
What do you mean it's "nowhere east"? Anyone can clearly see its located in the Southeastern portion of China...!
Enter Signature
  • #156
  • Sep 23, 2014 2:46pm Sep 23, 2014 2:46pm
so you trade large lot but you can't move the market? so what for?
  • #157
  • Sep 23, 2014 3:10pm Sep 23, 2014 3:10pm
the best part to see now , is the setup(s) that dancingphil use for this large lotsize trades.
That would be a good issue to talk about , this thread is getting boring
  • #158
  • Sep 23, 2014 4:00pm Sep 23, 2014 4:00pm
Quoting PayTheLimit
so can someone, who has read this thread in its entirety, in a sentence or two, tell me what the hell its about...
Basically dancingphil started a thread to discuss large lot size trading and was answering questions about his trading and what he does. The usual FF crowd quickly joined in and started calling him a scammer and liar (he has supposedly made more than 70 million from FX), which he chose to ignore. Since then, he has been mysteriously temporarily banned by a senior member.

I can't say for sure whether he is the real deal or not. All I can say is that he was nice enough to answer serious questions about what he does. He has mentioned he doesn't want students from the Internet, nor will he accept any money from anyone. (Of course scammers would probably say the same until they can privately get in contact with you)

Everyone else really should stop worrying about whether he is lying or not and see if you can take any value from what he has said to give you ideas for your own strategy. That would do your trading a lot better than wasting time trying to figure out if he is lying or not. Be cautious, but welcoming. And IF, at the first chance he offers to trade your money or teach you for money, RUN. However, until there is definitive and indisputable proof he is asking for money I don't see any wrong with him posting here to discuss.
  • #159
  • Edited 4:49pm Sep 23, 2014 4:25pm | Edited 4:49pm
Quoting PayTheLimit
so can someone, who has read this thread in its entirety, in a sentence or two, tell me what the hell its about...

Sure I can do it for you in one small sentence, without even reading the whole thread…

Op's and buddies crack pipe fantasy set at moms place, stone-broke.
Passion, Persist, Patience, Protect
  • #160
  • Edited 5:32pm Sep 23, 2014 5:19pm | Edited 5:32pm
Quoting Dazzer
PS To answer any questions about moving around large lots, say 100+ clips, you just have to make sure that your execution to get in and out is hidden from the other players, or they'll look to get you!! If you're trading with zero commission..blah blah, just hit the "trade" button and hope your account doesn't blow up. Good day to you all. Dazzer
That's why it's beneficial to iceberg large lot orders and it creates the perfect cover. Just because a broker might allow you to trade a lot size of 500.00 ($50,000,000 in volume), like FXCM does. It is wiser to cover that and divide that large lot size into lots of 50.00 ($5,000,000 in volume) or 150.00 (15,000,000 in volume). The point being is not to draw attention to your actual volume size, plus liquidity providers/banks can more readily reject larger lot size orders at their discretion specially when we are talking about multiple large lots.

In talks with IBFX they were able to handle 5 billion max in volume under one account but that would take about 1-2 minutes to fully execute as it would with most big brokers. If faster execution was required they said to switch over to Deutche Bank or UBS as they might be able to do it in about a minute or less.

IBFX had a max lot size of 50.00 (50 standards lots per trade) and a max of a thousand trades per account (1000x50.00 = 50,000 standard lots which is 5 billion in volume).

But I digress, the point is to always iceberg large size orders because that's how high volume traders actually trade, they are not necessarily trying to show their true hand in the market...
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