400% returns in 5 days trading Brexit

If the chart did not tell you that Brexit would happen, watch this guys videos if you want to see a master trader at work.

These trades he called out in a live trade room to over 200 people and he posts his trading blotter every single trade. I don't see any else doing that and you can learn a ton from watching his nightly trade review videos for free.

Loved it. Suck it up for a minute, and UK will be stronger for it.... imho

That's what I've been telling people for months. It'll be tough for a while--maybe a few years. But Britain has Britain back. This does exacerbate other concerns, like German control of the EU....

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Right on Mary. The entire EU experiment got off on the wrong foot to begin with. I believe it could be a powerhouse with the right leadership. However the underlying premise, to make German biz the crown jewel, is successful, at the expensive of giving all of it's consumer nations false hope of being part of a strong coalition.

I agree it "could" have been a monster union but as usual whenever you let academics and politicians regulate money and business they always make a total mess of things. The good news is Britain will be stronger now and the people of Britain will reap the rewards of not having to carry so much dead weight politicians on their backs.

You have to be kidding me. This could have gone either way. He got 400% return because he is a gambler. If you praise that then sooner or later you will get burned big time regardless if you made money or not yesterday. Another thing. If you dare use chart tools and indicators in a situation like this why not just flip a coin.

Hahahaha ummm ya there is so much wrong with everything that you said I don't know where to start.

First off it was never a gamble because the trade was hedged, secondly it was controlled with a fixed max loss because he was trading options contracts and third your a complete buffoon to think that any technical indicator would help you during a fundamental event but I guess thats why your username is investing 101 lol

No need to respond your ignorance shows itself.

Morning,

To gauge the long-term profitability of trader, we need to see trading performance over a much longer period and across a multitude of different market conditions together with verified trading performance rather than the results of a one off event.

I have checked out his webpage and can't see any evidence of a verifiable trading record, this is an absolute must. The blog states some big gains on various trades but it doesn't tell us how many lots were being traded, the money management being used. As an example, if he has a $1mn account and he made $3k, it's a small percentage gain compared to if he had a $20k account and made $3k.

There isn't any context to the gains he he making so without more information, it's all rather meaningless.

We just need more information which will allow us to identify long term performance.

Edit:
I found the below thread on here which mentions the trader:

http://www.forexfactory.com/showthread.php?t=415820

Mentions both good and bad points of this trader and his trading performance.

Obviously above thread is a little old but if he did indeed lose 60% of his clients funds (as noted in post 9 of the above thread), it does not inspire much confidence in someone who had then, 27 years trading experience.

As I said originally, just need far more verifiable evidence of long term profitability.

Steve did lose 60% of his account when he first started trading Forex but it was almost all his personal money and only a very small group of 5 investors only had $5000 max investments in his pamm account. He insisted on a small test group because of his forex experience was short compared to his equities history. This is well known information and he never hides that and he was the first one to shut down the account. The fact is he was a equities trader for 25 years and decided to try Forex and a 60% DD was not really a big deal in his first year ( basically the cost of the transition) He currently trades at the same prop firm I do and sits 2 desks next to me when hes in the office but he mostly trades remote. Last month with this Brexit trade he set an all time firm profit record.

Steve still trades Forex and has since made a complete comeback over the last 2 years with a 3 year track record now in Forex but he still mainly trades equities 80% of the time.

As you can see here he posts his trades and his trading blotter live every night on his youtuble channel something very few traders are brave enough to do.

https://www.youtube.com/channel/UCSj...uLxjgUg/videos

As usual the Forex community is clueless to the realities of real traders and a bad year out of 27 is not a big deal at all and as a matter of fact he has openly told many people that out of his 30 year trading career he has more then 4 bad losing years.

That is well within the realm of variance and acceptability of a 30 year trader.

Many people in this community still do not understand the variance of trading and still think that it is a paycheck job and every day you show up and make your $1000 and leave. Sadly that is the greatest lie you have been told and we are all slaves to market conditions and mostly slaves to volatility and as such bad runs do and will happen. If you don't understand that you will be made very aware of that soon. Even if you do finally become a profitable trader it will end and you will have to adapt to new markets eventually.

Cheers

Thank you Gobigfx for your reply.

What I don't understand is that on this board somewhere, it stated that he was a prop trader in charge of a $25mn fund?

Why would he now try and trade fx when his expertise is in equities and where he managed $25mn?

Why would he want to deal with retail which as you can see, is a very very tough market where he'd be getting an almighty headache as well as grief

Am not suggesting anything untoward but am sure the payoff form managing a $25 fund plus years of working at a few top proprietary firms (as claimed on this site somewhere) he'd be in a comfortable position to not want the stress of dealing with the retail public.

I recall reading you said you are semi-retired and just wish to give something back but surely there are easier ways to give back than having to bang your head on FF.

I can not answer why Steve would decide to teach and deal with the public I personally would never do that and thinks he is crazy and many other traders in the office think he is crazy to try as well.

He is a fully funded trader here but he does not manage 25m. His allocations will go up and down with his daily performances just like the rest of us. He also just started working here 1 year ago so his forex results where prior to that.