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Are there any successful Traders in Forex Factory?

  • #201
  • Feb 9, 2015 4:57am Feb 9, 2015 4:57am
I don't like to call myself a successful trader because it makes me complacent and obstruct the continuous learning of trading.

But nonetheless I've recovered from a 50% draw down and am finally back in the green after 4 years. You can check out my full story here.

The biggest take away I had from it is this, find someone who is trading successfully and model him/her.

For me it was adopting the trend following approach since I have read about market wizards who are successful with it and, seen track records of hedge funds who are using this trading approach.

There are many ways to trade the market and you have to find something that works for you, for me it was trend following.

fartist
Whether you can or you can't, you are both right.
  • #202
  • Feb 9, 2015 2:00pm Feb 9, 2015 2:00pm
Quoting fartist
There are many ways to trade the market and you have to find something that works for you, for me it was trend following
Good point, Fartist.

The fact is financial markets move randomly 70% of the time.

However, when they do trend (about 30% of the time) this randomness stops and the astute trader can then profit from this temporary imbalance of supply and demand, which is the exact definition of a trend by the way.
Each losing trade is an opportunity to learn
  • #203
  • Feb 9, 2015 5:12pm Feb 9, 2015 5:12pm
Quoting EarnPipsNow
{quote} Good point, Fartist. The fact is financial markets move randomly 70% of the time. However, when they do trend (about 30% of the time) this randomness stops and the astute trader can then profit from this temporary imbalance of supply and demand, which is the exact definition of a trend by the way.
its really too bad that you dont have a infinite zoom on a 1mn chart.
you will then discover that quite the opposite you are saying, price is always trending in a timeframe
the goal is to avoid the mess in between
  • #204
  • Feb 9, 2015 6:49pm Feb 9, 2015 6:49pm
Quoting felixis
{quote} its really too bad that you dont have a infinite zoom on a 1mn chart. you will then discover that quite the opposite you are saying, price is always trending in a timeframe the goal is to avoid the mess in between
Hi Felixis,

Please re-read my posts carefully, where did I ever say that trends on the 1 min time frame (or on any time frame for that matter) were meaningless ?
Each losing trade is an opportunity to learn
  • #205
  • Feb 9, 2015 11:52pm Feb 9, 2015 11:52pm
Quoting EarnPipsNow
{quote} Good point, Fartist. The fact is financial markets move randomly 70% of the time. However, when they do trend (about 30% of the time) this randomness stops and the astute trader can then profit from this temporary imbalance of supply and demand, which is the exact definition of a trend by the way.
Hi earnpips,

Yes that's true, thus one of the principles of trend following is to trade a wide array of markets. Bonds, indices, agriculture, metals, currencies etc.

Because we do not know which markets will trend at any point in time, so it's best to diversify out across all sectors. This increase our probability of capturing a trend.

fartist
Whether you can or you can't, you are both right.
  • #206
  • Feb 10, 2015 3:36pm Feb 10, 2015 3:36pm
Quoting fartist
Hi earnpips, Yes that's true, thus one of the principles of trend following is to trade a wide array of markets. Bonds, indices, agriculture, metals, currencies etc. Because we do not know which markets will trend at any point in time, so it's best to diversify out across all sectors. This increase our probability of capturing a trend
That's exactly how the famous Turtles made hundreds of millions: they trend-followed dozen and dozen of different financial instruments and all they needed was two or three mega trends a year to earn tons of cash.
Each losing trade is an opportunity to learn
  • #207
  • Feb 11, 2015 1:12am Feb 11, 2015 1:12am
Quoting EarnPipsNow
{quote} That's exactly how the famous Turtles made hundreds of millions: they trend-followed dozen and dozen of different financial instruments and all they needed was two or three mega trends a year to earn tons of cash.
yes you nailed that perfectly!

Most traders give up during the inevitable draw down, but trend followers know best to persist on with strict risk management.

The trend will pay for all the little losses incurred along the way.

fartist
Whether you can or you can't, you are both right.
  • #208
  • Feb 11, 2015 1:42am Feb 11, 2015 1:42am
@waterscalmin

That's near enough the same way I trade. Look for those buying and selling "zones" and trade them IF there is reason too. Many people belive in using indicators such as Schotastics and RSI etc but personally I hate them with a passion. Lagging indicators are a big no no for me. Instead, i look to fundies. So if say we're expecting some bad CPI data coming from UK and Cable is nearing a selling zone, im going to sell when price reaches that zone. We have the zone, and we have a reason why the price would be expected to go down. This also means that technically the pair is overvalued, so we have a great price go get in at too. Tbh, you won't lose many trades...
  • #209
  • Feb 11, 2015 10:23am Feb 11, 2015 10:23am
Quoting jakeparkin
@waterscalmin That's near enough the same way I trade. Look for those buying and selling "zones" and trade them IF there is reason too. Many people belive in using indicators such as Schotastics and RSI etc but personally I hate them with a passion. Lagging indicators are a big no no for me. Instead, i look to fundies. So if say we're expecting some bad CPI data coming from UK and Cable is nearing a selling zone, im going to sell when price reaches that zone. We have the zone, and we have a reason why the price would be expected to go down. This...
so when you say zone, you mean as in supply and demand zones?
  • #210
  • Feb 11, 2015 10:26am Feb 11, 2015 10:26am
Quoting Marillionpip
{quote} so when you say zone, you mean as in supply and demand zones?
I don't stick to strict supply and demand zones. The zone could be a supply or demand zone, or simply a support or resistance level. Basically, places where the market has bought or sold from previously.
  • #211
  • Feb 22, 2015 8:21am Feb 22, 2015 8:21am
Although I do not fit the criteria, I have been trading live for 2 weeks and I have seen consistent profitable results.
Trade smart, not hard
  • #212
  • Feb 22, 2015 9:03am Feb 22, 2015 9:03am
feels good to finally be successful...
practising coitus interruptus
  • #213
  • Feb 22, 2015 9:13am Feb 22, 2015 9:13am
How old are you, Tim?
  • #214
  • Feb 22, 2015 10:07am Feb 22, 2015 10:07am
Quoting Carlsberg
there can be ONLY one, but seems it takes 17yrs to get there, (his name is Charlie) not sure he visits Forex Factory much though? see from about 8 minutes in https://www.youtube.com/watch?v=_ZgV0fWGWmM
Hi Carlsberg, interesting video, I think the qualities these people display shows what is needed. I am not so much interested in what is not needed and that is probably falling to our own human nature again and again. It seems like this guy Charlie has conquered himself as his workout routines suggest as well. I cannot imagine him putting on an overleveraged trade and begin to hope in a losing position.
Fix up, trade sharp ...
  • #215
  • Feb 22, 2015 12:37pm Feb 22, 2015 12:37pm
LIFE FOLLOWS A PRINCIPLE OF A PYRAMID....................AT THE TOP THERE IS ONLY ROOM FOR A FEW..... WHO ARE RESILIENT, HARDWORKING, PATIENT, LUCKY AND DETERMINED TO BE SUCCESSFUL.

As for the question, it is like asking if a university graduates any (first class )student at the end of the year......and you know the answer to that dont you?
  • #216
  • Feb 22, 2015 1:10pm Feb 22, 2015 1:10pm
Quoting Adewumi
LIFE FOLLOWS A PRINCIPLE OF A PYRAMID....................AT THE TOP THERE IS ONLY ROOM FOR A FEW..... WHO ARE RESILIENT, HARDWORKING, PATIENT, LUCKY AND DETERMINED TO BE SUCCESSFUL. As for the question, it is like asking if a university graduates any (first class )student at the end of the year......and you know the answer to that dont you?
... or scammers not caught
Fix up, trade sharp ...
  • #217
  • Feb 22, 2015 8:48pm Feb 22, 2015 8:48pm
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 ...
A KPMG certified trading statement will easily set one back about 7.5 grand/year.....Since you are so determined to find out the answer and if you willing to take up the tab I will instruct them to send you my trading records for the past 1-5 years up to you. Agree?

GS
  • #218
  • Feb 23, 2015 9:57am Feb 23, 2015 9:57am
GenghiStar -- Could you please elaborate? your post is not clear to me :-(

Quoting genghistar
{quote} A KPMG certified trading statement will easily set one back about 7.5 grand/year.....Since you are so determined to find out the answer and if you willing to take up the tab I will instruct them to send you my trading records for the past 1-5 years up to you. Agree? GS
  • #219
  • Feb 23, 2015 6:01pm Feb 23, 2015 6:01pm
Quoting Eggman
Please do [post your live trading calls], that will be very interesting.
Thank you Eggman, I just started a new thread to that effect : http://www.forexfactory.com/showthread.php?t=527955 , see you there.
Each losing trade is an opportunity to learn
  • #220
  • Edited 11:10pm Feb 23, 2015 8:35pm | Edited 11:10pm
The question making the headline of this thread is very good.
I have a better one:

Are there any stupid brokers out there who will constantly let you
grab the money for a Ferrari* away from them?

* Ferrari=The kind of money you want to earn
in order to gain financial freedom.Can be a Volvo too.

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