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Who is the most profitable trader on Forex Factory?

  • #141
  • Dec 9, 2016 2:42am Dec 9, 2016 2:42am
Quoting Raynor
{quote} Hi, GEfx. You're absolutely right. The point of the thread was to find out by records,trader explorers, etc. who is the most profitable among the FF members. So, to get back on track - here's a guy that claims to have made 200 USD into 70,000,000 USD !!! I've read some old threads and he had managed to generate quite a bit of controversy in 2013 and 2014. In short - he claimed that he had blown 8 accounts of 200 USD each, and on his 9th or 10th time - found his way, increased to 10 k, 100 k... I think that he also claimed of a couple of...
DP writes well, no doubt about his good writing skills. The content part, if anyone thinks it's great that marks out the knowledge and skill level of the reader.
  • #142
  • Dec 9, 2016 2:44am Dec 9, 2016 2:44am
Quoting hanover
{quote} Not true! -- please don't misquote me: {quote} All I ever said was that his alleged achievement was mathematically possible; and that a lot of what he said made good sense to me (here, for example). Sadly, in many cases, the level of thinking on this forum has become very one dimensional.
What do you think of his hedging strategy? 11 pips down he reverses his trade and then another trade will help him cut his loss
It's in fear when people show what they truly value.
  • #143
  • Dec 9, 2016 2:54am Dec 9, 2016 2:54am
Oh yeahhh..... now we have some shovel merchants and snake oil sellers in high gear....

GEFX
EXECUTIVEFX
PHILIPPINEFX

..but sorry guys, the only comments that do make really sense are the ones from Mingary. And since you are in happy mode, a little piece of sugar from me..... beside the actions in France and Belgium, UK seems pushing in the same direction. Looks almost they have been inspired by some critics of the forex and binary option industry on FF and following the same line of arguments:

http://www.mondovisione.com/media-an...ltation-paper/

Raynor:
Dancingphil is a prime example of what someone claims to be and what he really is - google search is sufficient for that purpose to get an idea...
Good luck to his son who tries to recover some of the metric ton of gold he claimed to have..... Search at the end of a rainbow, the probability to find it there is most likely higher....

Executivefx: To your elephant in the room example.... have you ever analized the trade explorers in detail? What do you see? How do the incoming deposits distort the picture of metrics refernced to an inital deposit?

One good thing I see is realreason operates with relativly low leverage per trade..... he does not force it and his account has some buffer for short term vola.
This allows him together with incoming new client money to play for longer. Something he does better then most retailers. If he catches multi year trends correctly he can achieve profits over a quite long period of time and it will take longer to be able to differentiate skill from luck...

However, without going into all details, some of it has a smell of low leverage martingale trading style PAMM accounts with new deposits of clients helping to postpone the day of reckogning and improve some metrics in trade explorer. Significant chance it will all go to zero over a long enough period of time. The performance ot those joining late are most likely already not very attractive....Look at some of the open trades..... in negative since months and in deep red with hope being the only reason to keep that trades going? How will the performance on someone joining today be impacted if he starts to cover his negative trades...? I will keep an I on this to see how it will further evolve....

I am sorry to tell you that your elephant reference does not convince me.

I hope the financial authorities will extinct the binary option industry and reduce max leverage in retail forex to 5:1. The most profitable trader on FF won't be bothered by such regulation, because he is trading anyway with a leverage below 5:1........
  • #144
  • Dec 9, 2016 3:28am Dec 9, 2016 3:28am
Quoting HudithePfupf
I hope the financial authorities will extinct the binary option industry and reduce max leverage in retail forex to 5:1. The most profitable trader on FF won't be bothered by such regulation, because he is trading anyway with a leverage below 5:1........
As someone pointed elsewhere here on FF, leverage has nothing to do with it. 5:1 would only mean you need to deposit more into not-so-safe-broker account. I'm pretty sure the most profitable trader on FF doesn't care about his leverage, he has enough resources and opens the size he wants despite the actual leverage on his account.
  • #145
  • Dec 9, 2016 3:46am Dec 9, 2016 3:46am
Quoting ensale
What do you think of his hedging strategy? 11 pips down he reverses his trade and then another trade will help him cut his loss
I'm not completely sure why he hedged at exactly 11 pips; you would need to be a student of his to fully understand his trading method.

Same-pair-hedging and closing achieve the same thing mathematically (explained in the links starting here and here); I know a lot of folk disagree, they can believe whatever they like, I'm not getting involved in that argument all over again.

Phil said that he had to hedge because if he closed his 100 lot position, there was insufficient margin remaining to later open a new position. Again, I don't fully understand why br0kers wouldn't treat a same-pair-hedge the same way, as it is effectively achieves the same thing; in my 10 years of intermittent trading I've never experienced a margin call, and I've certainly never traded 100 lot positions!
  • #146
  • Dec 9, 2016 3:58am Dec 9, 2016 3:58am
Quoting hanover
{quote} I'm not completely sure why he hedged at exactly 11 pips; you would need to be a student of his to fully understand his trading method. Same-pair-hedging and closing achieve the same thing mathematically (explained in the links starting here and here); I know a lot of folk disagree, they can believe whatever they like, I'm not getting involved in that argument all over again. Phil said...
Makes perfect sense. I have been thinking whether would it be useful to develop some sort of same-pair hedging strategy but failed to see the advantages. Probably because there is none.
Invincibility lies in the defence; the possibility of victory in the attack
  • #147
  • Dec 9, 2016 4:56am Dec 9, 2016 4:56am
Quoting BBalazs
{quote} Makes perfect sense. I have been thinking whether would it be useful to develop some sort of same-pair hedging strategy but failed to see the advantages. Probably because there is none.
Not sure about same pair hedging strategy as how it works however i used sometime binary options trading as hedging my forex trades on hotforex and most of the times i remain profitable.
  • #148
  • Dec 9, 2016 5:00am Dec 9, 2016 5:00am
Quoting mades
{quote} As someone pointed elsewhere here on FF, leverage has nothing to do with it. 5:1 would only mean you need to deposit more into not-so-safe-broker account. I'm pretty sure the most profitable trader on FF doesn't care about his leverage, he has enough resources and opens the size he wants despite the actual leverage on his account.
Because most retail traders do not get the point why high leverage is poison to their account, they use high leverage if offered, because they gamble. Since the average retail account is about 2500 USD at the opening.....it is absolutly clear that without too high leverage you would just shovel around pennies. So this explains the business model of forex brokers: Give them high leverage to play and gamble an for the rush of adrenalin..... get the "gamblers ruin" edge on your side and get all their money within a short period of time in return.

So from a regulator and a general public perspective (that finally have to deal with the fallout of broke gambling addicts) a reduction of the maximum leverage does make a lot of sense to destroy this business model. Further more negative balance protection should be enforced by law over all brokers and they should be held accountable for fals marketing claims or better get a complete marketing ban. If the risk management tools of forex brokers fail and they let an account slip into negative territory it's their tool that failed and they have to deal with the fallout. If the liquidity in an instrument is not sufficient to allow such high leverage and gaps can occur they must adapt leverage in advance. Despite flash crashes, brexit, SNB move etc. some even increased leverage during the last years.....regulators have to and will stop that. They are on their way.

If such steps would be enforced, 90% of brokers would lose their current business model and go out of business. That would clean the market from most of the shady brokers and help to reduce the share of the financial industry on gdp.... because approx 80% of their business is just parasitary to the real economy. Society should have a big interst that we reach peak finance and reset this industry in size to where they offer useful service.
  • #149
  • Dec 9, 2016 5:11am Dec 9, 2016 5:11am
Quoting HudithePfupf
{quote} help to reduce the share of the financial industry on gdp.... because approx 80% of their business is just parasitary to the real economy. Society should have a big interst that we reach peak finance and reset this industry in size to where they offer useful service.
If your concern are parasites of the real economy, than first house to clean should be central banks them self and their filthy children investment bank. That is were real parasites exists. Retail forex brokers are just symptom of a rotten system in the first place and removing them will only fatten pockets of those in charge. Simply as that.

To reset this industry means global revolution and with current state of affairs most likely means civilization annihilation. We had been through such scenarios twice in the history, but did not have as many nukes as today.
  • #150
  • Dec 9, 2016 5:24am Dec 9, 2016 5:24am
Quoting HudithePfupf
Oh yeahhh..... now we have some shovel merchants and snake oil sellers in high gear.... GEFX EXECUTIVEFX PHILIPPINEFX ..but sorry guys, the only comments that do make really sense are the ones from Mingary. And since you are in happy mode, a little piece of sugar from me..... beside the actions in France and Belgium, UK seems pushing in the same direction. Looks almost they have been inspired by some critics of the forex and binary option industry on FF and following the same line of arguments: http://www.mondovisione.com/media-an...ltation-paper/...
what a long and boring lecture .......
100% KENYAN.
  • #151
  • Dec 9, 2016 5:53am Dec 9, 2016 5:53am
Double account balance everyday. 
  • #152
  • Dec 9, 2016 6:00am Dec 9, 2016 6:00am
Quoting hanover
{quote} I'm not completely sure why he hedged at exactly 11 pips; you would need to be a student of his to fully understand his trading method. Same-pair-hedging and closing achieve the same thing mathematically (explained in the links starting here and here); I know a lot of folk disagree, they can believe whatever they like, I'm not getting involved in that argument all over again. Phil said...
Yeah the posts help make a good argument.. The 11 pips must be the drawdown he allowed himself. I guess he probably traded the 5m.
It's in fear when people show what they truly value.
  • #153
  • Dec 9, 2016 6:53am Dec 9, 2016 6:53am
The most profitable trader is the one who completely trust his trading strategy even though he knows that it could crash at anytime,one who also has a very well structured money management strategy and knows when and where to withdraw his profits and also sets part of the profits as capital to help him bounce back if and when your strategy crashes.
100% KENYAN.
  • #154
  • Dec 9, 2016 7:21am Dec 9, 2016 7:21am
Quoting ensale
{quote} Yeah the posts help make a good argument.. The 11 pips must be the drawdown he allowed himself. I guess he probably traded the 5m.
Amen!
  • #155
  • Dec 9, 2016 4:41pm Dec 9, 2016 4:41pm
Quoting HudithePfupf
Oh yeahhh..... now we have some shovel merchants and snake oil sellers in high gear.... GEFX ...
but sorry guys, the only comments that do make really sense are the ones from Mingary....
I'm not selling anything. I could care less if you or anyone else, ever traded again. I use my journal here on FF to outline my approach to trading. Its not everything I do, but it's a good outline of my basics. my journal is where you can go to see how I backup my performance claims, but if that isn't enough for you, you are welcome to go fuck yourself, because no additional proof is forthcoming. As for Mingary, he seems a bit negative but I appreciate his position, and agree that most people waste a few thousand dollars on forex trading before quiting. But, if you learn to trade, then learn to become a trader, before making a deposit with your broker, you'll improve the odds that you'll find some success in the forex. unfortunately, most are not willing to invest the time and discipline first.
  • #156
  • Dec 9, 2016 5:29pm Dec 9, 2016 5:29pm
Quoting GEfx
{quote}As for Mingary, he seems a bit negative but I appreciate his position, and agree that most people waste a few thousand dollars on forex trading before quiting. But, if you learn to trade, then learn to become a trader, before making a deposit with your broker, you'll improve the odds that you'll find some success in the forex. unfortunately, most are not willing to invest the time and discipline first.
That's the reason why most people lose money in forex. Not brokers manipulation they don't need to.

Mingary is correct with is cautionary views, that 82% losers of average £2,200 losses confirms it.
  • #157
  • Dec 9, 2016 11:26pm Dec 9, 2016 11:26pm
Quoting skyway
{quote} That's the reason why most people lose money in forex. Not brokers manipulation they don't need to. Mingary is correct with is cautionary views, that 82% losers of average 2,200 losses confirms it.
i agree with you having the discipline and the patience to follow your rules and strategy is the biggest challenge that all traders have to overcome to be successful.
100% KENYAN.
  • #158
  • Edited Dec 10, 2016 12:32am Dec 9, 2016 11:34pm | Edited Dec 10, 2016 12:32am
Quoting executivefx
{quote} http://www.forexfactory.com/realreason#acct.20,hello elephant.
Look at the details. Assuming it's real, then it's just your average pyramid/ponzy scam: a strategy that works!
  • #159
  • Dec 10, 2016 12:36am Dec 10, 2016 12:36am
Quoting Mingary
{quote} Look at the details. Assuming it's real, then it's just your average pyramid/ponzy scam.
it could be real or fake,i really have no vested intrest in the above accts am simply addressing the topic at hand who is the most profitable trader on forex factory? by posting the above accts.
100% KENYAN.
  • #160
  • Dec 10, 2016 2:10am Dec 10, 2016 2:10am
Quoting Mingary
{quote} Look at the details. Assuming it's real, then it's just your average pyramid/ponzy scam: a strategy that works!
Mingary, do you think, that you are some kind of missionare and we, rest of us, are some savages, who are waiting for saving our souls? If we look at FF as some academy and there peoples are for learn something. Then you looks like hooligan, who is distracting others from learning. Maybe you should create your own forum - antiFF or maybe only own thread in FF and then you all missionars can talk about us fool man's. And if some of us will lose this faith then he or she will go to your thread or forum and you then can cuddle him and so on. Otherwise I like as savage get some fire and fry missionare.
Sorry for my plain english.
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