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Rags to Riches in 10 or 20 Trades - Simplicity at its finest

  • #2,041
  • Mar 5, 2016 4:00am Mar 5, 2016 4:00am
Quoting geektrader
In short summarized (but check the article to see how this chance is calculated mathematically): "In this sense you are far better off waiting for a big enough jackpot in a lottery like this and betting all the money you wish to put into high risk trading rather than making these type of bets in the market. Of course the randomness in market returns fools many into believing that they have “skills” above randomness when performing this type of trading but in reality the New York lottery is a much better choice for this type of “trader”."
Yup. Additionally, if one trades in the manner that is commonly proposed (intraday and high turnover) then, you may even get worse than random results if you end up taking positions against large macroeconomic trends.
  • #2,042
  • Mar 5, 2016 4:16am Mar 5, 2016 4:16am
Quoting bingo60
Slightly modified the strategy of making it more conservative. I tested it on the daily data {image} {image}
Thats not a correct backtest, it works because you are not using tick-data combined with a small SL and trailing stop. The profit comes from the technical errors of the backtest (no intrabar check of the position, which is a MUST with a 10 pips SL). Go and try that backtest on tick-data, it fails completely.
  • #2,043
  • Mar 9, 2016 7:29am Mar 9, 2016 7:29am
Quoting Atokys
{quote} Yup. Additionally, if one trades in the manner that is commonly proposed (intraday and high turnover) then, you may even get worse than random results if you end up taking positions against large macroeconomic trends.
Eh?

Since when have short term/intraday traders worried about trading against a large macroeconomic bull trend?

Do those big trends ever have retracements? Yes, and lots of them on every timeframe, including the weekly and monthly. Plenty of cash to be made as the trend gets over-extended and needs liquefying before it can advance again.
Road To Wisdom? To err and err and err again, but less and less and less...
  • #2,044
  • Mar 9, 2016 7:55am Mar 9, 2016 7:55am
Quoting Calculus
Eh? Since when have short term/intraday traders worried about trading against a large macroeconomic bull trend?
Looking at the average FF poster, probably since never... Much to their detriment.
Quote
Do those big trends ever have retracements? Yes, and lots of them on every timeframe, including the weekly and monthly. Plenty of cash to be made as the trend gets over-extended and needs liquefying before it can advance again.
If you're good at guessing, sure.
  • #2,045
  • Mar 9, 2016 8:33am Mar 9, 2016 8:33am
Quoting Atokys
{quote} Looking at the average FF poster, probably since never... Much to their detriment. {quote} If you're good at guessing, sure.
I've been reading some of your posts At, and you seem to love to put down the average poster here on FF, giving the impression you're a lot better than them. Perhaps, perhaps not. Whatever the case it's an unattractive and pompous trait. There is much to learn on these Forums, and there's a lot of rubbish as well, but overall websites like FF have been very helpful to many many people and are a credit to the trading community.

As for guessing, the markets are always a guess to one degree or another whether you're trading off a short term chart or a long term one. Your trades at their heart are pure guesses, intelligent ones perhaps but guesses nevertheless. Same as mine.
Road To Wisdom? To err and err and err again, but less and less and less...
  • #2,046
  • Mar 9, 2016 9:17am Mar 9, 2016 9:17am
Quoting Calculus
{quote} I've been reading some of your posts At, and you seem to love to put down the average poster here on FF, giving the impression you're a lot better than them. Perhaps, perhaps not. Whatever the case it's an unattractive and pompous trait. There is much to learn on these Forums, and there's a lot of rubbish as well, but overall websites like FF have been very helpful to many many people and are a credit to the trading community. As for guessing, the markets are always a guess to one degree or another whether you're trading off a short term...
agreed.
It's in fear when people show what they truly value.
  • #2,047
  • Mar 9, 2016 9:33am Mar 9, 2016 9:33am
Quoting Calculus
I've been reading some of your posts At, and you seem to love to put down the average poster here on FF, giving the impression you're a lot better than them. Perhaps, perhaps not. Whatever the case it's an unattractive and pompous trait.
A lot of bluster, but I am flattered.
Quote
There is much to learn on these Forums
There are certainly many negative examples useful for learning what not to do.
  • #2,048
  • Apr 14, 2016 10:43am Apr 14, 2016 10:43am
Has anyone reached anywhere with the trading mentioned in the title

"Rags to Riches in 10 or 20 Trades - Simplicity at its finest"

Maybe not to distinguished levels of millionaires and billionaires but say 10,000%+ of profits?
When the going gets tough , the tough get going
  • #2,049
  • Apr 14, 2016 10:48am Apr 14, 2016 10:48am
Quoting Stubborn
Has anyone reached anywhere with the trading mentioned in the title "Rags to Riches in 10 or 20 Trades - Simplicity at its finest" Maybe not to distinguished levels of millionaires and billionaires but say 10,000%+ of profits?
forexsaint did 10000% more than once
  • #2,050
  • Apr 15, 2016 12:51am Apr 15, 2016 12:51am
Quoting Sargent
{quote} forexsaint did 10000% more than once
Is there any link to check that performance?
When the going gets tough , the tough get going
  • #2,051
  • Apr 15, 2016 2:08am Apr 15, 2016 2:08am
Quoting Stubborn
{quote} Is there any link to check that performance?
search in forex factory of even in Google the name forex saint
  • #2,052
  • Apr 15, 2016 12:40pm Apr 15, 2016 12:40pm
Quoting Sargent
{quote} search in forex factory of even in Google the name forex saint
Thanks for the info friend.
This is what I found and it is very inspiring.
http://www.forexfactory.com/showthread.php?t=414848
HATS OFF to this guy.
When the going gets tough , the tough get going
  • #2,053
  • Apr 15, 2016 7:35pm Apr 15, 2016 7:35pm
He did it because he had a SYSTEM that hade an edge (in 2010 to 2013) and that he never revealed to anyone. This has nothing to do with this method here where the entries are placed on RANDOM, not following a system at all and just hoping for a lucky RANDOM run. Your chances doing this without a SYSTEM are lower than winning the NY lottery as described in my link above.
  • #2,054
  • Apr 15, 2016 9:13pm Apr 15, 2016 9:13pm
Quoting geektrader
This has nothing to do with this method here where the entries are placed on RANDOM
You obviously didn't understood what is discussed here. There's no system/method in this thread. The discussion is only related to money management. You must have your own consistent trading method ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #2,055
  • Apr 15, 2016 9:32pm Apr 15, 2016 9:32pm
ı think that one trader make $25 to $50k or more or less,why this trader then turn to normal trading.now this trader can make $50k to $xxxxxxk with same effort,and repet repet repet and repet.some statistic dont make its posible
  • #2,056
  • Apr 15, 2016 10:19pm Apr 15, 2016 10:19pm
Quoting vasily
ı think that one trader make $25 to $50k or more or less,why this trader then turn to normal trading.now this trader can make $50k to $xxxxxxk with same effort,and repet repet repet and repet.some statistic dont make its posible
Behave, you owe me $120
  • #2,057
  • Apr 15, 2016 10:20pm Apr 15, 2016 10:20pm
Quoting GDR3k
{quote} Behave, you owe me $120
who are you
  • #2,058
  • Apr 15, 2016 10:22pm Apr 15, 2016 10:22pm
Quoting vasily
{quote} who are you
Ok.
  • #2,059
  • Apr 15, 2016 10:22pm Apr 15, 2016 10:22pm
Quoting GDR3k
{quote} Ok.
overdose?
  • #2,060
  • Apr 15, 2016 10:27pm Apr 15, 2016 10:27pm
Quoting GDR3k
{quote} Behave, you owe me $120
who do you think you are and tell me behave and ı owe you money???
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