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Are there any successful Traders in Forex Factory?

  • #81
  • Feb 1, 2015 6:48am Feb 1, 2015 6:48am
Quoting Mingary
There are no long term successful spot retails forex traders there never has bee and there never will.
The great sage has spoken.
  • #82
  • Feb 1, 2015 7:39am Feb 1, 2015 7:39am
Quoting the_sniper
+1 Psychology of Losing and accepting a loss this is one of the most important thing in trading as long as you do not understand this you will probably never be a profitable trader. Quoting Jest1081 - I will accept my losses. - I understand that losing is just part of the game. - I know that as long as I have a fear for losing, I have a problem. - I will tweak my midset to accept the fact that I will face losses. - I know losing is inevitable no matter what my system is. - I will keep in mind that losing one fight is just another step to winning...
This is it. Amen.
  • #83
  • Feb 1, 2015 8:17am Feb 1, 2015 8:17am
Quoting gravitist
connect, Be wary of the commercial vendors here on FF - if they were truly successful, why would they need to be peddling their EAs, indicators, systems,etc? The very fact they earn money by selling products proves they're not successful traders. If you have the goose that lays the golden eggs, you never sell it.
I Agree with you. I have Holy Grail System and i never share it any one.
  • #84
  • Feb 1, 2015 9:17am Feb 1, 2015 9:17am
Follow the rules strictly you could win now or later.
And follow the FF rules also while opening a new thread.
  • #85
  • Feb 1, 2015 9:22am Feb 1, 2015 9:22am
Dear Vijayancbe,

Can you more elaborate on what you are conveying about "Follow the FF Rules also while opening a new thread" ?

Quoting vijayanscbe
Follow the rules strictly you could win now or later. And follow the FF rules also while opening a new thread.
  • #86
  • Feb 1, 2015 9:27am Feb 1, 2015 9:27am
This forums name is Trading systems.
  • #87
  • Feb 1, 2015 9:35am Feb 1, 2015 9:35am
Valid comment , i am unable to change the forum as admin , neither am i able to find a way to change ..

Any ideas ??

Quoting vijayanscbe
This forums name is Trading systems.
  • #88
  • Feb 1, 2015 9:41am Feb 1, 2015 9:41am
Dont worry Admin will moves this thread to discussion forum.
Already many threads have done. I dont know the exact rules.
  • #89
  • Feb 1, 2015 10:22am Feb 1, 2015 10:22am
Nice thread. Nice sharing of some tips & tricks by a few successful traders. Thanks for those.

Spending a lot of time on charts itself should teach you how you'd build your own way of trading. Then sticking to that system strictly is the key to success.

As for sharing, I believe there are many successful traders even here on FF who also want to share their exclusive piece of advice or system with a view to helping others because they are normally functioning humans. But why most of them still don't share? It's because there are a lot of pant pullers always waiting to ask why they shared what they shared? What's the mystery behind that sharing??

We would've seen a few more good sharing but I'm sure some of the successful traders got offended by the comments on 1st page and left.

Regards.
Success - It's not always what you see
  • #90
  • Feb 1, 2015 10:39am Feb 1, 2015 10:39am
Quoting jmn5611
Of course there are OP, but they tend to lurk. Trading is a mental game, like anything that pays based on performance. Getting a system is only the first and I believe the smallest part of the trading plan. You must trust the system, and you must trust yourself. Successful traders lurk because these thing really can't be taught. Look at all the threads in the systems section. You will find people trying to add indicators and tweak the original system by the time you get to page 5. And then there is money management. You have to trust your money...
in my opinion this post is one of best text that you can find about forex
  • #91
  • Feb 1, 2015 10:53am Feb 1, 2015 10:53am
The mental part is definately overlooked by a lot of traders. Mental errors that you cannot detect can be costly and prevent you from winning a lot of money. Often its a wise to invest in a book/dvd/take a course or whatsoever to improve your mental approach. I´ve seen people afterwards becoming successful. The one piece of puzzle that was missing was their mental part.
  • #92
  • Feb 1, 2015 11:21am Feb 1, 2015 11:21am
Quoting connect_ananth
Often the 95% losers and 5 % winner statistics is thrown out for the retail trading community . Instead of debating about why and how etc .. This thread is a call to all Successful traders in forex factory , to share their winning philosophy and learnings and systems if they want to share .. Just for the sake of thread , let us define success as " being in profit ( could be 1% also) net after atleast two years of Trading". So how many such traders have we got in forex factory .. I am not in that category .. so the quest continues ...
i'm not a millionaire (yet ), but i'v been trading successfully for the past year, i'v been on demo for 7 years, live for 2 years.
when i started trading live i lost ~50% of my account in the first month.
i realized that my strategy was wrong, i stopped trading for the next 11 months !, i worked my ass off trying to figure out where i was wrong, went back on demo and tried again and again, i'v been facing my charts almost every day for +8 hours to the point where i could almost feel the market, know where the liquidity is, where the stop losses are.
and when i was confident enough, i went back to live.

if there is one secret about forex, i think its being able to realize that you're wrong before its too late, most traders just keep going till they completely blow their account(s).
also commitment, i don't think anyone could be successful at trading without it being a top priority.
i lose money for a living
  • #93
  • Feb 1, 2015 12:13pm Feb 1, 2015 12:13pm
yup, doing ok here, boring job but good perks, pays the bills and buys the snacks. I recently set myself a challenge to see how far I can build a microscopic account with about $30 in it. Put on 33% in a week, lol. Wish I had the balls to trade my main account like that. If I get anywhere with the microscope I'll publish the whole lot here for your amusement.

It's not hard when the penny finally drops guys. Promise. Don't give up, just survive long enough to learn. You know when it's going wrong because your account looks a bit f'd up! Just be honest with yourselves and take your time, no need to blow up.
"Risk comes from not knowing what you're doing." - Warren Buffett
  • #94
  • Feb 1, 2015 1:05pm Feb 1, 2015 1:05pm
Wow .

Dear tyler , you have shown remarkable patience and resilience by Demoing for 7 years !!! Wishes for your success!
Quoting tylerbose
{quote} i'm not a millionaire (yet ), but i'v been trading successfully for the past year, i'v been on demo for 7 years, live for 2 years. when i started trading live i lost ~50% of my account in the first month. i realized that my strategy was wrong, i stopped trading for the next 11 months !, i worked my ass off trying to figure out where i was wrong, went back on demo and tried again and again, i'v been facing my charts almost every day for +8 hours to the point where i could almost feel the market, know where the liquidity is, where...
  • #95
  • Feb 1, 2015 1:30pm Feb 1, 2015 1:30pm
Quoting Makavell
{quote} Story of my trading life. Although Ive been in the game longer than you and have been robbing the markets for over 5 yrs, but I turned the corner when I moved away from day trading and scalping and moved on to formulate a method weaved around Daily, Weekly and Monthly charts with stoploss of 400pips. If you ask me Ill say there are 4 simple rules to being a successful trader fx trader. 1. build your strategy around higher time frames. 2. Have a generous stoploss. 3. Be well capitalized and lastly and most importantly you must...


#2 has been a big one for me as well. I use a very generous stop loss now, to prevent getting stopped out from spikes etc. Often I end up closing the trade manually ahead of the stop if I know it's not going to work out.

Agree with all the point there - good stuff!
  • #96
  • Feb 1, 2015 2:50pm Feb 1, 2015 2:50pm
I want to put once and for all an end to this random market / edge / is anybody win in this market in the long run.

the french regulator made an audit on 15000 retail customer forex accounts for 4 years and published the conclusion in 2014.
in short they are strongly discouraging retailer to trade forex

FACT 1: on average 90% of traders loose money in forex
FACT2: the more often the trader trade the more he loose
FACT3: the more the trader bet on each trade the more he loose
FACT4: there is no learning: older trader loose as much as newbie

for those that can read french the document is joined with this post
Attached File(s)
File Type: pdf amf study.pdf   1.5 MB | 1,347 downloads
  • #97
  • Feb 1, 2015 2:58pm Feb 1, 2015 2:58pm
- for most traders the average loss is 1843euros

- but the average loss for all traders is 10 887euros so you have people that bet big and loose a lot.


i give the detailed study by the amf (in french)
Attached File(s)
File Type: pdf amf detailed study.pdf   323 KB | 943 downloads
  • #98
  • Feb 1, 2015 3:01pm Feb 1, 2015 3:01pm
so how many people win 2000euros PER YEAR on 4 years ??

on the graph it seems you have only 180 people on 15000 than win this !!


how many people win 10000euros PER YEAR ??

i cant even see on the graph, must be 10/20
  • #99
  • Feb 1, 2015 3:02pm Feb 1, 2015 3:02pm
but there is still about 121 people that earn more than 24000euros PER YEAR on 4 years
  • #100
  • Feb 1, 2015 3:08pm Feb 1, 2015 3:08pm
now for the most intersting part:

(in french)
A partir des données collectées, les services de l’AMF constatent que les montants prélevés par
les intermédiaires (frais de financement et commissions sur transactions) n’expliquent qu’une part minoritaire des
pertes des clients (14,2% des pertes de la clientèle).

translate:
the commission taken by the intermediaries explains only a MINORITY of the loss of the clients


that means that for 15000 clients the loss IS NOT DUE TO THE COMMISSION / PIP SPREAD

by consequence there is 2 options for explaining the loss:

1) the loss is due to the behavior of the trader.
that means that the trader is a perma looser
so he can become a perma gainer by trading the opposite way.
and the market is not random

2) the loss is due to over leverage and because the possibility of loss is limited by the size of the account
the blow up is inevitable
and the market is random
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