Tim's £500 marathon. Goal £1 million | Page 37 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Single Strike -> Epic Win (500% return, at 500:1) 72 replies

$500 to Million in 11 months - Higher Risk vs. Higher Reward EA 21 replies

Goal: Double account balance every month?! 73 replies

Modest Goal? 10 replies

What is your long term goal? 7 replies

Attachments: Tim's £500 marathon. Goal £1 million
Exit Attachments

Tim's £500 marathon. Goal £1 million

  • #721
  • May 13, 2015 6:24pm May 13, 2015 6:24pm
Quoting Orolo
1. must be STP - straight thru processing, direct market not derived - fxcm for instance is a market maker . so don't be with a broker who are not direct. Straight Through Processing broker which are not a Market Maker and dont have a dealing desk which means your trades are instantly executed on the interbank market without any price manipulation.
Hi Orolo,

FXCM is not a market maker on our No Dealing Desk (NDD) forex execution. Instead, each client order is offset one-for-one with the best prices from independant third-party liquidity providers.

Quoting Orolo
2. pip spread - in the euro especially you should have .05 spread ( .5/.6 ) worst case should be 1 pip , noticed 1.8 on here, any trader on here that opts for anything more or accepts the huge spreads is crazy
Our average EUR/USD spread is well below 0.5 pips as you can see here: http://www.forexfactory.com/brokers.php#spreads
  • #722
  • May 13, 2015 7:29pm May 13, 2015 7:29pm
Quoting Jason Rogers
{quote} Hi Orolo, FXCM is not a market maker on our No Dealing Desk (NDD) forex execution. Instead, each client order is offset one-for-one with the best prices from independant third-party liquidity providers. {quote} Our average EUR/USD spread is well below 0.5 pips as you can see here: http://www.forexfactory.com/brokers.php#spreads
So that means if I post a limit order, I'll see it in the book, right?
  • #723
  • May 13, 2015 8:13pm May 13, 2015 8:13pm
Its funny how you mention FXCM and Boom they appear lol. I guess trying to save that sinking ship.
There are those who know, and there are those who don't know.
  • #724
  • May 13, 2015 8:43pm May 13, 2015 8:43pm
Well , sorry for this but I have to ask.

Are you saying that FXCM are STP ? are you saying that they don't use any type of algorithms / slippage algo's or price delays or anti - hedging against their own clients trades? are you saying that when you have a move of 50 pips on one forex STP and the FXCM moves 5 pips , that there is a difference due to different market liquidities. personally this happened to me 4 years ago , never going back, sorry if this offends but I recorded and submitted the evidence and I was ignored. I am surprised at the statement then you have a STP access to forex .
so when you say "FXCM is not a market maker on our No Dealing Desk (NDD) forex execution. Instead, each client order is offset one-for-one with the best prices from independent third-party liquidity providers." you have two options then so your happy to provide a skewed forex option to clients still ?

I am a little biased as below, I know its a while ago but - just exactly how the processing works and the spreads etc and one for one work would be of great interest as from my knowledge you guys still run algorithms on the forex even in your one for one ? please correct me, but if we did a comparison would we still find this distinction .

In August 2011, the NFA fined FXCM $2M for slippage malpractices. FXCM reached settlements with the NFA and the CFTC of $2M and $6M respectively, for practices relating to failure to pass along positive slippage to customers on certain order types prior to August 2010. In conjunction with these settlements, FXCM provided clients with restitution for the total amount of positive slippage, approximately $8M

On the spreads , that's great as it should be for smaller account holders, however I still am dubious on the moment and no - algorithms or slippage issues occurring, once bitten twice shy.
I am not having a go, just pointing out the forex has a lot of ambiguous definitions on market maker versus direct versus STP , forgive me for being blunt but honesty in the industry isn't a high standard.

I stand corrected is this is completely different now and apologise if im wrong however, before you reply fxcm please confirm and check before committing to the "sword parry" my understanding is the offsets and algorithms still run with FXCM .

NOTE : this is my opinion and experience and you should look into the research yourself.

thanks

OROLO
  • #725
  • May 14, 2015 1:55am May 14, 2015 1:55am
Rarely post any charts..but hey..
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 37 KB
Trade smart, not hard
  • #726
  • May 14, 2015 3:41am May 14, 2015 3:41am
Quoting TimTheTrader
Lol, my trade explorer is back up now...Some drawdown, but the agenda is still as follows..goal is 1mill
you will do it!
trading is like dancing, don't think and just listen to the music!
  • #727
  • May 14, 2015 2:49pm May 14, 2015 2:49pm
Lol, I got stopped out..Boy I'm really getting the slaughter treatment for this month!
Trade smart, not hard
  • #728
  • May 14, 2015 8:28pm May 14, 2015 8:28pm
I just wanted to congratulate you on posting your wounded curve and stepping back up to the plate Tim. I may have been a bit harsh in my criticism, but well done for facing your critics head on and stepping back into the fire.

With regards to the broker discussion, one of my brokers (who i am with only for tradercopy purposes) stated that Global Prime was the best and most transparent retail broker around. You should have a couple of feeds open atleast for some of the time to ensure each broker is relatively honest, and to compare with when you have quiries about certain trades.

From my experience, trading is a journey in humility, on the road to consistency. Consistent profit eventually arives, but the nature of the journey still doesn't change markedly after that. I used to think that once i was profitable some great weight would be lifted off my shoulder, but unfortunately due to the goals which we then set ourselves, the weight actually increases.

You are facing the fire head on, unlike so many other traders, and this is the best possible course of action. Keep up the good work.
Enter Signature
  • #729
  • May 14, 2015 8:40pm May 14, 2015 8:40pm
Quoting TimTheTrader
Lol, I got stopped out..Boy I'm really getting the slaughter treatment for this month!
I second Sarythsaya's comment. Admire your confidence, Tim... and who's to say you won't make it?
  • #730
  • May 14, 2015 11:23pm May 14, 2015 11:23pm
Quoting Sarythsaya
I just wanted to congratulate you on posting your wounded curve and stepping back up to the plate Tim. I may have been a bit harsh in my criticism, but well done for facing your critics head on and stepping back into the fire. With regards to the broker discussion, one of my brokers (who i am with only for tradercopy purposes) stated that Global Prime was the best and most transparent retail broker around. You should have a couple of feeds open atleast for some of the time to ensure each broker is relatively honest, and to compare with when you...
+1 for Global Prime.

Not affiliated to them except been using them for quite a while now and best broker I've come across.

Keep the consistency up Tim; beware of the ego trap. Good luck.
Build good relationships with others.
  • #731
  • May 15, 2015 4:38am May 15, 2015 4:38am
Quoting Sarythsaya
I just wanted to congratulate you on posting your wounded curve and stepping back up to the plate Tim. I may have been a bit harsh in my criticism, but well done for facing your critics head on and stepping back into the fire. With regards to the broker discussion, one of my brokers (who i am with only for tradercopy purposes) stated that Global Prime was the best and most transparent retail broker around. You should have a couple of feeds open atleast for some of the time to ensure each broker is relatively honest, and to compare with when you...
Its all good mate, no hard feelings
Trade smart, not hard
  • #732
  • May 15, 2015 7:22am May 15, 2015 7:22am
I want to apologize to everyone here if I have offended you. I let my ego get to me and acted like a complete prick! I guess as a trader you go through a phase where you feel like your the best trader in the world, to getting slaughtered left, right and center until the market finally humbles you. I have failed to keep my emotions in check by bragging a lot, and it has finally caught up with me.

Wow, this is a big wake up call...Probably the toughest lesson I have learnt so far.

So to anyone who I offended, I sorry I act this way. I admit that I was wrong and I will be open to any constructive criticism.

So far, 30% drawdown, so I think I will call it quits until next month. Happy pips!
Trade smart, not hard
  • #733
  • May 15, 2015 9:08am May 15, 2015 9:08am
Quoting TimTheTrader
I want to apologize to everyone here if I have offended you. I let my ego get to me and acted like a complete prick! I guess as a trader you go through a phase where you feel like your the best trader in the world, to getting slaughtered left, right and center until the market finally humbles you. I have failed to keep my emotions in check by bragging a lot, and it has finally caught up with me. Wow, this is a big wake up call...Probably the toughest lesson I have learnt so far. So to anyone who I offended, I sorry I act this way. I admit that I...
Hi Tim, don't worry, I believe you can get thought this DD.
for now just cool yourself down, it's a good decision to quit it for a while.
you need some break and I wish you're in your best condition when you're back!

remember, don't planning to revenge the market for what it takes from you lately (Hey! you just rob the market 72.8% growing your account! ) ,
just play your usual trade and you'll be fine.

I'm not good at trading YET, but I just want to help you back to your best perform and achieve your dream.

green pips!
  • #734
  • May 15, 2015 10:17am May 15, 2015 10:17am
Quoting TimTheTrader
..I let my ego get to me and acted like a complete prick! I guess as a trader you go through a phase where you feel like your the best trader in the world, to getting slaughtered left, right and center until the market finally humbles you. I have failed to keep my emotions in check by bragging a lot, and it has finally caught up with me. Wow, this is a big wake up call...Probably the toughest lesson I have learnt so far...
Yep, market & life humbles us.. Great shift Tim!
Markets wispers, just tune in.
  • #735
  • May 15, 2015 10:29am May 15, 2015 10:29am
Quoting TimTheTrader
I want to apologize to everyone here if I have offended you. I let my ego get to me and acted like a complete prick! I guess as a trader you go through a phase where you feel like your the best trader in the world, to getting slaughtered left, right and center until the market finally humbles you. I have failed to keep my emotions in check by bragging a lot, and it has finally caught up with me. Wow, this is a big wake up call...Probably the toughest lesson I have learnt so far. So to anyone who I offended, I sorry I act this way. I admit that I...

Don't worry. You'll soon get another 70% up, then you'll lose it all. Then it takes you forever just getting 20% up, then you lose it again. Then you disappear from FF and trade privately. You'll struggle more, but you also see some real progress. Then you completely disappear from internet and you'll see some actual consistent results. After some years you come back to FF, you'll see all threads like this and you actually feel bad for them. You try to help them with some comments, but they call you a noob and tell you to show them your trade explorer. And so it starts again.
  • #736
  • May 15, 2015 11:31pm May 15, 2015 11:31pm
Quoting palabara
Its funny how you mention FXCM and Boom they appear lol. I guess trying to save that sinking ship.
Apparently and from what I understand, Google and other search engines can inform a company if its company's name appears somewhere on the Internet, for a fee of course.
Each losing trade is an opportunity to learn
  • #737
  • May 16, 2015 3:19am May 16, 2015 3:19am
Quoting TimTheTrader
I want to apologize to everyone here if I have offended you. I let my ego get to me and acted like a complete prick! I guess as a trader you go through a phase where you feel like your the best trader in the world, to getting slaughtered left, right and center until the market finally humbles you. I have failed to keep my emotions in check by bragging a lot, and it has finally caught up with me. Wow, this is a big wake up call...Probably the toughest lesson I have learnt so far. So to anyone who I offended, I sorry I act this way. I admit that I...
Tim you should not ride this like a roller coaster .your trading on a market which trends,stalls and retraces .A healthy equity curves should somewhat mimic this .

ride your trends up and control your risk when it retraces.remain with the same emotional control through both periods and not forgetting the periods where you stall and remain flat.if you are to meet your goal you will have to master the retraces in your equity .most fail at this critical point and stop trading there initial winning system or method,self dought is extremely damaging and over powering.

remain calm and continue what you was doing with the knowledge that you have a slight edge that over time you will nudge forward.

losses are a part of what we do .you must learn to manage that,emotionally and within your money management

good luck and get a grip man

dice
  • #738
  • May 17, 2015 2:52am May 17, 2015 2:52am
Quoting Baltimore
{quote} Don't worry. You'll soon get another 70% up, then you'll lose it all. Then it takes you forever just getting 20% up, then you lose it again. Then you disappear from FF and trade privately. You'll struggle more, but you also see some real progress. Then you completely disappear from internet and you'll see some actual consistent results. After some years you come back to FF, you'll see all threads like this and you actually feel bad for them. You try to help them with some comments, but they call you a noob and tell you to show them your...
That is the problem exactly.
Even those who claim to be successful never, ever show it .
Only one logical conclusion; there are no long term winners (but one must try)
  • #739
  • Edited 6:21am May 17, 2015 3:53am | Edited 6:21am
Quoting Mingary
{quote} That is the problem exactly. Even those who claim to be successful never, ever show it . Only one logical conclusion; there are no long term winners (but one must try)
Hey mate, are u stalking my posts?

I am so sick of seeing your negative posts Mingary. You are clearly a gambler and not a trader, otherwise you would have demo traded until you were profitable rather than losing 200k+ on the markets. If Tim traded profitably for months before going live, then there is no reason he can't trade profitably live - he is up over 70% ffs and he is a professed beginner.

just because u are a losing trader, it doesn't mean everyone is a loser. trading is a hard game, and less than 10% succeed.

I post my results, plenty of people do, and if I changed the start date of my equity curve u would see I am up a hell of a lot more than the 26% in the ten weeks that is posted.
Enter Signature
  • #740
  • May 17, 2015 6:16am May 17, 2015 6:16am
Quoting Sarythsaya
{quote} I am so sick of seeing your negative posts Mingary. You are clearly a gambler and not a trader, otherwise you would have demo traded until you were profitable rather than losing 200k+ on the markets. If Tim traded profitably for months before going live, then there is no reason he can't trade profitably live - he is up over 70% ffs and he is a professed beginner. just because u are a losing trader, it doesn't mean everyone is a loser. trading is a hard game, and less than 10% succeed. I post my results, plenty of people do, and if I changed...
Ok. So please explain to me how / why my comment is negative and why you should be sick of it ?
I am not saying it's not possible to be profitable short term.
What I am saying is:
1) no one is profitable long term
2) no one makes a living in retail forex and especially not from "trading from home".
Of course, I don't know who you are, but I can guaranty you are not making a living from forex retail trading as your only source of income
And again, I am not saying one should not try (if for no other reason than to get a good dose of reality on the subject)
BTW demo profitability is meaningless.
0 traders viewing now