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  • #1,055,861
  • Feb 11, 2016 4:30am Feb 11, 2016 4:30am
Quoting Vorex
{quote} The best traders in the world do not make more than 5-7% in a year, let alone a month. If you are making 8% a month then that means you are over leveraged and sooner or later the odds will catch up with you and it will take just one bad trade to take away all the profit you made plus more. For your friend to be making an average of 100K a month, he will need to have $100 Million dollars and he needs to be one of the top traders in the world. And no one who has $100 Million dollars will be stupid enough to deposit it with a broker, and no...
than i can take the rest of the year off yesterday's trade.
those who can, do. those who cant, talk about those who can
  • #1,055,862
  • Feb 11, 2016 4:34am Feb 11, 2016 4:34am
Quoting Vorex
{quote} The best traders in the world do not make more than 5-7% in a year, let alone a month. If you are making 8% a month then that means you are over leveraged and sooner or later the odds will catch up with you and it will take just one bad trade to take away all the profit you made plus more. For your friend to be making an average of 100K a month, he will need to have $100 Million dollars and he needs to be one of the top traders in the world. And no one who has $100 Million dollars will be stupid enough to deposit it with a broker, and no...
There is also a program recently on in UK, its about millionaires under the age of 21... there was a guy on there earning 30k a month from trading... he is 21
  • #1,055,863
  • Feb 11, 2016 4:35am Feb 11, 2016 4:35am
I am now short EU below Weekly R1 I missed the opportunity at Daily R1
and long UJ at 111.40
DAX long still running and +66
Attached Image (click to enlarge)
Click to Enlarge Name: EU 2016 Feb 11a.PNG Size: 18 KB
  • #1,055,864
  • Feb 11, 2016 4:35am Feb 11, 2016 4:35am
Quoting gatorinla
{quote} than i can take the rest of the year off yesterday's trade.
Please tell me you are on the same page as me?
  • #1,055,865
  • Feb 11, 2016 4:35am Feb 11, 2016 4:35am
Quoting Don96
{quote} If you are consistently making 8% a month for 10 years it doesn't matter how much you have in your account ! 1% risk is 1% risk !!! if you risk 10k per trade its because the equity in your account allows you to! is it really that hard for people to get their heads around...?
Tell me one thing: You have $10 in your hand what you can consider as spare money that you may bet on anything for 20-80 chance but if you have 10k in your hand will you do the same since your future depends on this sum?
For example, look at what Gator did, he gained 100 pips and took profit, why? Because he doesn't want to lose some of them but if it was 10 pips he would let it float, right?
You cannot learn better without losing
  • #1,055,866
  • Feb 11, 2016 4:36am Feb 11, 2016 4:36am
Quoting MaxDoom
I am now short EU below Weekly R1 I missed the opportunity at Daily R1 and long UJ DAX long still running {image}
nice, I took a short at 1.13200, was contemplating 1.1328 but waited
  • #1,055,867
  • Edited 5:44pm Feb 11, 2016 4:37am | Edited 5:44pm
Quoting KzX
Some bearish divergence on m30 EU and bullish on USDX in progress.
Bearish divergence, I'd have to say so. Freakin EURUSD has a mind of it's own.
  • #1,055,868
  • Feb 11, 2016 4:39am Feb 11, 2016 4:39am
Quoting forexings
{quote} Tell me one thing: You have $10 in your hand what you can consider as spare money that you may bet on anything for 20-80 chance but if you have 10k in your hand will you do the same since your future depends on this sum? For example, look at what Gator did, he gained 100 pips and took profit, why? Because he doesn't want to lose some of them but if it was 10 pips he would let it float, right?
if I start with £1000 my risk is 10 pounds, my account grows to lets say 10k, my risk is now 100 quid, then it grows to 100k risk is 1k... it just goes on and on, its irrelevant of what is in your account, if you do it over a long period of time consistently the psychology of your mind is already trained to deal with increasingly larger volume losses/gains yet your account equity allows for it at 1%. I don't know what your targets are for trading but they are obviously completely different to mine
  • #1,055,869
  • Feb 11, 2016 4:40am Feb 11, 2016 4:40am
Quoting Don96
{quote} nice, I took a short at 1.13200, was contemplating 1.1328 but waited
I am not convinced yet....still waiting....then again I am very very new to this
  • #1,055,870
  • Feb 11, 2016 4:41am Feb 11, 2016 4:41am
Quoting Don96
{quote} There is also a program recently on in UK, its about millionaires under the age of 21... there was a guy on there earning 30k a month from trading... he is 21
Isn't he the guys that has a YT channel and bought a Lambo for his GF last year to match his Ferrari ?
Why sell the bottoms when you can buy the tops...
  • #1,055,871
  • Feb 11, 2016 4:41am Feb 11, 2016 4:41am
Quoting gatorinla
{quote} possible one here yet untriggered meaning its not locked and loaded. the st low at 1305 breach should yield 125x target. the same as norm area.. after breach, a pullback to 1329/atm high may be the entry box to short.. as long as high holds. st lies..its mostly built on consolidation.. but its in line with the 125area norm.. 1239/48. greed kills accounts. abort with a new HH

Honestly pure gold. Thank you man, I am trying to digest all of this and customizing my trading. I think I begin to understand what it is I need to be looking at. Levels dont mean anything if you can not synch with PA.
  • #1,055,872
  • Feb 11, 2016 4:44am Feb 11, 2016 4:44am
Quoting Don96
{quote} if I start with 1000 my risk is 10 pounds, my account grows to lets say 10k, my risk is now 100 quid, then it grows to 100k risk is 1k... it just goes on and on, its irrelevant of what is in your account, if you do it over a long period of time consistently the psychology of your mind is already trained to deal with increasingly larger volume losses/gains yet your account equity allows for it at 1%. I don't know what your targets are for trading but they are obviously completely different to mine
So again that periodic gain math. lol
Same thing applies, for 1k you will risk 10 but for 10k you won't risk 100 or you will hesitate to take risk or will try to get more better opportunity. This is how trader's psychology works.
You cannot learn better without losing
  • #1,055,873
  • Feb 11, 2016 4:44am Feb 11, 2016 4:44am
I have traded all my life commods,futures and stocks, I started trading fx 2 yrs ago. I am up a tad been down a tad. Ran a stock hedgie 20+ yrs.

My ? is what is norm? To me it brings into ? average as in norm i also saw norm slope how do you get that as an indicatior.

I trade with fxcm and dont see it as a choice of indicators. Is it an ea? Custom indicator. Please explain what this shows you
  • #1,055,874
  • Feb 11, 2016 4:48am Feb 11, 2016 4:48am
Quoting forexings
{quote} So again that periodic gain math. lol Same thing applies, for 1k you will risk 10 but for 10k you won't risk 100 or you will hesitate to take risk or will try to get more better opportunity. This is how trader's psychology works.
Do you think gator and maxdoom for example hesitated more now than when they did when they had 1k accounts... it isn't hesitation its just they have increased their probabilities of winning, they don't not take a trade because they are scared of losing x amount...
  • #1,055,875
  • Feb 11, 2016 4:51am Feb 11, 2016 4:51am
Quoting forexings
{quote} So again that periodic gain math. lol Same thing applies, for 1k you will risk 10 but for 10k you won't risk 100 or you will hesitate to take risk or will try to get more better opportunity. This is how trader's psychology works.
Not really, i guess it's subjective..

But if you have 1k and risk 10, you may think that when you have 100k you would not like to risk 1000, but the opposite may be true..!
That is, the more the capital, the more the risk you are going to take easily (because even if you burn 1k out of 100, you still have 99!).

Paradoxically it's more painful to lose 100usd out of a 1k account than lose 10k out of a 100k account.
  • #1,055,876
  • Feb 11, 2016 4:52am Feb 11, 2016 4:52am
Quoting MissPips
{quote} If you mean our old friend, if you look very carefully at what he's doing, he's not trading breakouts of new highs or lows. He's trading breakouts of very micro consolidations ( on the 1m and 5 m timeframes) in the direction of a new swing on the lower timeframes, right after it started (i.e a break of the first micro consolidation right after price failed to go further at a nice solid S or R.) In some cases he also trades further breakouts of further consolidations in the same direction, if it's a trending day or depending on where he thinks...
i dont ride bulls because i am not very good at it.. i would love to do it, but i dont know when to bail. some are good at many things i suck at. i traded tick scalps about 8 years back, i had 39 straight wins. then one big loss. you have to be set to trade a tick.. i wouldn't myself w/o some redundant safety. i wasn't talking about anyone in particular. just the b/o crowd and watching it return to make entry negative, knowing they are still open with that red b/o.. most return to norm before the real b/o happens after a breif orgasim.. premature belly squirts happen more than not to um and fail.. i could use a one minute the same as longer pa. i just dont want to watch each move. i can come back in hours and target several days, weeks, months in future. its just more my style. but whatever makes money for others i have no ill will toward. what works on one tf usually works on others.
those who can, do. those who cant, talk about those who can
  • #1,055,877
  • Feb 11, 2016 4:58am Feb 11, 2016 4:58am
this is the way I know it.....

there is no such thing as a consistent gain each month or year, someone may make 30k per month for 6 months then lose for the next 6 months that is trading ups and downs.
people trading in millions will trade futures not spot
futures trading is all quoted and regulated so there is no issue having mega sized accounts of say 100m
larger transactions are harder to hide in the market and therefore effect entry/exit points diluting the profitability
most institutional fund managers would be very happy with 10-20% gain per year - in reality the fund will have made more because that is quoted after costs which typically will be 5-10%
large accounts diversify and if they wanted to trade say NFP they would spread the risk across treasuries, indices and currency
smaller accounts stand a better chance of making a higher percentage because of the footprint in the market is small and the owners generally take on leverage and single point risk rather than diversified risk which dilutes the profits.

and just for the sake of saying it if you have a long EU position and also a short EU position open it is not hedging you are bloody flat and paying extra to be so
  • #1,055,878
  • Feb 11, 2016 4:59am Feb 11, 2016 4:59am
Quoting Don96
{quote} Do you think gator and maxdoom for example hesitated more now than when they did when they had 1k accounts... it isn't hesitation its just they have increased their probabilities of winning, they don't not take a trade because they are scared of losing x amount...
Of course, the more you learn the more you will hesitate because the more scopes will crawl in your head. I'm not telling you about myself. Just ask them
You cannot learn better without losing
  • #1,055,879
  • Feb 11, 2016 5:00am Feb 11, 2016 5:00am
Surprising move.
  • #1,055,880
  • Feb 11, 2016 5:04am Feb 11, 2016 5:04am
Quoting Connors
{quote} Understand, thank you for the response man. It is priceless that you share your views over here. Amazed with the accuracy of your levels and professional approach.
it made that LL.. so instead of entering now.. wait for a little bounce using the high as a stop.. 1329/54 window i use but you could raise 1329 and just trade less with a smaller window.. using the same high and a smaller window your pip stop is less pips. u already have a target, so you already know your r/r expected before entering. the closer to the high the less risk of pip amount.. with 1000$ account risking 1% on these. you may be able to make a living if you cherry pick. against trend that window at 1350 with 1/4% risk is almost the same as 1329 with a 1% risk..closer to risk,, the less you have to risk.. a successful trade at 1329 to 125x is about 4% w/o spread...
those who can, do. those who cant, talk about those who can
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