Are there any successful Traders in Forex Factory? | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Are there any successful technical traders? 19 replies

Are there actually any profitable traders on Forex Factory? 6 replies

Are there any famous and successful news traders? 2 replies

Are there any long term successful Forex investors 21 replies

Attachments: Are there any successful Traders in Forex Factory?
Exit Attachments

Are there any successful Traders in Forex Factory?

  • #121
  • Feb 1, 2015 4:46pm Feb 1, 2015 4:46pm
Quoting Tom_D_Trader
{quote} , Hey, thats my tradingplan to be all the time BE! Speaking of which, think good while entering to split position into 3 little, and ideally take one of those @ RR 1:2, coz then you have only 2 partial SL left on nice place below support while aready BE.
Yep, you can do. I just close 50% of the trade at 1:1 and don't move the stop. If the market gives me a chance to be in a free trade, guess what I'm gonna do?! Since I'm always surfing trends, I don't really care about 3:1 or less, I just leave them and look to build up later. Takes time and patience, but low stress.
"Risk comes from not knowing what you're doing." - Warren Buffett
  • #122
  • Feb 1, 2015 4:50pm Feb 1, 2015 4:50pm
Quoting Spili
{quote} Yep, you can do. I just close 50% of the trade at 1:1 and don't move the stop. If the market gives me a chance to be in a free trade, guess what I'm gonna do?! Since I'm always surfing trends, I don't really care about 3:1 or less, I just leave them and look to build up later. Takes time and patience, but low stress.
Seems we are making totally the same. I dont even look at RR of rest of the trades coz those are nonscence numbers @ 30-40:1. Once partial gets hit, am BE and can have a coffee.
Edit: Gtg, catch ya later
"I know one thing, that I know nothing." Sokrates
  • #123
  • Feb 1, 2015 4:59pm Feb 1, 2015 4:59pm
Quoting Spili
{quote} Retraining primary instincts can be done, but it's a tall order. I get around psychological issues by making my approach less discretionary. Rather than waiting on some intuition, gut feeling bullshit or divine providence (which is not really a reliable way to make a living), my decision making is a response to a prepared plan. Then my unreliable brain only needs to look for trends and research reasons for trends before seeing if they happen. Aside from direction, all of my opinions are irrelevant to the way I trade. I have three job titles...
pressing the opposite button when you are a perma looser is a sure way to get rich

the problem is that this behavior exists only because you are in panic mode AND losing.

if you start winning you retrain your brain and this golden basic behavior disappear


you must spy on a losing guy and trade the opposite.


but wait, who do this already? of course the market maker broker
he has the base and know the stats
  • #124
  • Feb 1, 2015 5:08pm Feb 1, 2015 5:08pm
It has been my experience that most people who aspire to become traders post some bogus system that they trade successfully in here and mislead people to believing in them. If you have a winning system for trading forex, you dont share it with anyone.
  • #125
  • Feb 1, 2015 5:15pm Feb 1, 2015 5:15pm
Trading is simple if you keep it that way. Find a higher timeframe trend and enter your trades on a lower timeframe in the direction of the higher timeframe. Hopefully you dont enter at the precise time that the higher timeframe decides to reverse.
  • #126
  • Feb 1, 2015 5:16pm Feb 1, 2015 5:16pm
Quoting Bankpips
It has been my experience that most people who aspire to become traders post some bogus system that they trade successfully in here and mislead people to believing in them. If you have a winning system for trading forex, you dont share it with anyone.
usually a system published gives you the entry but rarely the exits conditions

its the exit conditions at gain and loss that matter
its the environnment of the entry that matter

consequently though the individual components are simple ( complex patterns occurs so rarely that you will become a skeleton before it reoccur again)
its the articulation and influences of many of theses components that makes the edge

for example a whatever usual TA pattern TAKEN ALONE gives 50% loss 50% wins ie no edge

when you trade you go to a minefield
so know your terrain and your battlefield and dont stay with the nose near the ground
  • #127
  • Feb 1, 2015 5:17pm Feb 1, 2015 5:17pm
I would only consider profitable a trader with a verified real acount attached to myfxbook (or something similar) at least 6 profitable months, and preferably at least 200 trades.

I haven't searched ff for such traders, but my guess is that even if rare, there should be at least a handful of them.
  • #128
  • Feb 1, 2015 5:36pm Feb 1, 2015 5:36pm
Feels like that are many 95%-ers around here who are purely avoiding the question. Must be in denial, makes me think, or maybe just naive dreamers still believing in the gold pot. Oh well, keep digging
I'm honest, I'm not one of them. I'm just an unsuccessful trader. My latest biggest accomplishment is not to finish my 100$ account. (I'm doing an experiment, testing my 'strategy'.) So same I lose, same I win, balance is the same.
Hopefully I'll start making profit some day, but I don't want to blind myself thinking of this. Most probably I'll lose. I mean, if only 5% are successful, it means there are 5% chances to be successful, right? That's low, you know, and we can also mirror this percentage to every trade, I guess.
I don't want to disappoint anyone, but if these percentages are correct, it also means that there's only a 5% for a trade to be positive... considering that most of the traders use the same SL and TP.
What, did you think there's a 50%/50% chance?
So, as some other guy said, probably not. If I'll be successful I won't spend time on forums like these either. I'll just spend my time doing money.
I'm here just to learn how to not to share my success - for that there is facebook lol
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #129
  • Feb 1, 2015 5:37pm Feb 1, 2015 5:37pm
Hi guys.

I also struggled several years with trading.

Finally this strategy is working for me, it sounds easy (lol) but it's impressive:

TRADE the TREND, increase size in the trending direction only!

Cut losses quickly - don't average down!

Period.
  • #130
  • Feb 1, 2015 7:25pm Feb 1, 2015 7:25pm
Some say that from every 10.000 newbies only one survives in the long run. The 5% could well be an inflated figure. Retail world is probably a joke for most professionals.
  • #131
  • Feb 1, 2015 10:14pm Feb 1, 2015 10:14pm
Quoting redgreen
Some say that from every 10.000 newbies only one survives in the long run. The 5% could well be an inflated figure. Retail world is probably a joke for most professionals.
There is no difference between retail and institutional besides size of account and spread. Everything else is level. Now one could say that spread is a big deal, and it is if you day trade. Hint: No professional day trades.
If you are good at something, never do it for free--Joker
  • #132
  • Feb 1, 2015 10:16pm Feb 1, 2015 10:16pm
Quoting wattaman
Feels like that are many 95%-ers around here who are purely avoiding the question. Must be in denial, makes me think, or maybe just naive dreamers still believing in the gold pot. Oh well, keep digging I'm honest, I'm not one of them. I'm just an unsuccessful trader. My latest biggest accomplishment is not to finish my 100$ account. (I'm doing an experiment, testing my 'strategy'.) So same I lose, same I win, balance is the same. Hopefully I'll start making profit some day, but I don't want to blind myself thinking of this. Most probably I'll...
Every trade that makes sense has a one in two chance of winning. What a trader needs to worry about is what if it does not win.
If you are good at something, never do it for free--Joker
  • #133
  • Feb 1, 2015 11:11pm Feb 1, 2015 11:11pm
Hi all,
Everyone can be successful as long they have their own rules and follow it. I know it's not easy to follow that, like me. But, until when you wanna be a
MR. DEPO. I'm trying to follow my own rules to be MR. W/DRAW. Now i can see the profit grow up. not everyday profit, but my acc. grow up. Just learn the basic and learn how to use tools on MT4, like draw trendline, fibo, etc. Follow the rules. For example below.... this is mine. B4 that i'm MR.DEPO for a couple years.

1) discipline
2) be patient
3) don't be greedy (money management)
4) trade what you see, not trade what you think
5) trade the trend and don't trade against trend to eliminate hoping method
6) recognize your self (FTT or PTT) to ensure you make timetable for trade
7) no sacrifice no victory
  • #134
  • Feb 2, 2015 1:36am Feb 2, 2015 1:36am
If 95% are losers, and they are using the golgen rules of trading, wouldnt it be better to do the opposite?
1: Trading Plans are for losers
2: Treat Trading Like a hobby
3: Use as little technology as possible
4: Dont be affraid to lose your Trading Capital
5: Dont study the Markets
6: Risk more than You Can Afford to Lose
7: Develop a Trading Methodology Based on hunches and gut feeling
8: Never Use a Stop Loss
9: Know When to Stop Trading and then continue
10: Put Trading out of Perspective
  • #135
  • Feb 2, 2015 1:47am Feb 2, 2015 1:47am
Quoting Robertk
{quote} Mingary, mingary, CHF had the risk of a fixed price floor being removed. If investment companies / retail traders did not include that potential risk within their trading, well... then they actually deserve to lose a good amount because implementing all kinds of risk is part of the game. Now if this gap would have happened on non-pegged currency its a whole different story.

Hindsight is always 20/20..
But that is not the point.
The point is that ALL retail spot forex accounts combined show a net loss months after months - the amount of the loss on average (surprise, surprise) : the transaction cost.
It's of course possible that some account will be on the winning side for a while, but eventually it will fall back to the "average".
  • #136
  • Feb 2, 2015 1:49am Feb 2, 2015 1:49am
I believe the question should be:

Is there any losing traders in FF ?

If you go to the interactive trading forum you will see that everybody wins.
So, you think you have rights? LOL
  • #137
  • Feb 2, 2015 2:26am Feb 2, 2015 2:26am
Quoting Anusragger
If 95% are losers, and they are using the golgen rules of trading, wouldnt it be better to do the opposite? 1: Trading Plans are for losers 2: Treat Trading Like a hobby 3: Use as little technology as possible 4: Dont be affraid to lose your Trading Capital 5: Dont study the Markets 6: Risk more than You Can Afford to Lose 7: Develop a Trading Methodology Based on hunches and gut feeling 8: Never Use a Stop Loss 9: Know When to Stop Trading and then continue 10: Put Trading out of Perspective
I like the humor. I'm in.

2. Check
3. Check
4. Check
7. Double and triple check
8. Check
  • #138
  • Feb 2, 2015 2:32am Feb 2, 2015 2:32am
Yes - but I dont trade like a newbie, over emphasising techncial analysis and price action to the total exclusion of everything else.
  • #139
  • Feb 2, 2015 2:34am Feb 2, 2015 2:34am
Quoting jmn5611
{quote} Every trade that makes sense has a one in two chance of winning. What a trader needs to worry about is what if it does not win.
It looks like that, doesn't it?
But if 95% are losing, doesn't that mean that there's only a 5% to win in this game?! Assuming, of course, that most of the traders follow a plan, a strategy, and they trade following the same rules most of the times.
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #140
  • Feb 2, 2015 2:41am Feb 2, 2015 2:41am
and sometimes the guys who are successful are telling you exactly how it is done but you are so busy arguing amongst yourselves that it goes totally unheeded. I've witnessed this a lot on this forum, so unless you know what you are looking for when you come here, or have an idea of what works or what doesn't, I suggest you look elsewhere for education.
"Risk comes from not knowing what you're doing." - Warren Buffett
0 traders viewing now