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Who is the most profitable trader on Forex Factory?

  • #161
  • Dec 10, 2016 2:23am Dec 10, 2016 2:23am
Well apparently it doesn't matter, all the strategies on FF will make you super rich super fast!
  • #162
  • Dec 10, 2016 3:11am Dec 10, 2016 3:11am
Quoting todamoon
{quote} 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....
i agree with you,forex trading as a retailer is like any business in the world the principles that apply in other businesses also apply in the forex trading but there is so much advantage in forex trading compared to other businesses,i mean you don't have to employ a marketing team,the human resource department,an accountant an auditor to audit the accountant,a personal relations team to beg ur ever unsatisfied customers,rent a premise or pay licenses that at times don't make sense to your local goverment.In forex trading you only have to find a good and reliable broker,master the forex charts and find a strategy that you trust,be in control of your emotions and you are good to go.If you cant make it in the forex market then most likely you'll never make it anywhere else.
100% KENYAN.
  • #163
  • Dec 10, 2016 3:12am Dec 10, 2016 3:12am
Quoting mrhigurashi
Well apparently it doesn't matter, all the strategies on FF will make you super rich super fast!
no doubt!
  • #164
  • Dec 10, 2016 3:19am Dec 10, 2016 3:19am
Quoting executivefx
{quote} i agree with you,forex trading as a retailer is like any business in the world the principles that apply in other businesses also apply in the forex trading but there is so much advantage in forex trading compared to other businesses,i mean you don't have to employ a marketing team,the human resource department,an accountant an auditor to audit the accountant,a personal relations team to beg ur ever unsatisfied customers,rent a premise or pay licenses that at times don't make sense to your local goverment.In forex trading you only have to...
It is so not like a business, at best it's the business of gambling.

"If you cant make it in the forex market then most likely you'll never make it anywhere else" I hope you meant to say the opposite.
Any steady job will make far more money than any forays in retail forex.
Seems to me you are trying to mislead the gullible with such rubbish
  • #165
  • Dec 10, 2016 3:29am Dec 10, 2016 3:29am
Quoting executivefx
{quote} i agree with you,forex trading as a retailer is like any business in the world the principles that apply in other businesses also apply in the forex trading but there is so much advantage in forex trading compared to other businesses,i mean you don't have to employ a marketing team,the human resource department,an accountant an auditor to audit the accountant,a personal relations team to beg ur ever unsatisfied customers,rent a premise or pay licenses that at times don't make sense to your local goverment.In forex trading you only have to...
Yes Yes Yes....and that`s just the tip of the iceberg.
No Insurance premiums
Weekends always off[or any other day you decide]
Weather never a factor.
Bad economic news is a good thing
Election results irrelevant.
No dress code
You can work on a beach in SE Asia
Or Paris if that floats your canoe
It IS possible to make a lot of money
Reading posts by Mingary raises your self esteem
  • #166
  • Dec 10, 2016 3:43am Dec 10, 2016 3:43am
Quoting Mingary
{quote} It is so not like a business, at best it's the business of gambling. "If you cant make it in the forex market then most likely you'll never make it anywhere else" I hope you meant to say the opposite. Any steady job will make far more money than any forays in retail forex. Seems to me you are trying to mislead the gullible with such rubbish
forex trading is a gamble that i agree with you but thats also where your IQ hits its limit because you fail to understand that all businesses are a gamble entreprenuers and forex traders are both risk takers.
100% KENYAN.
  • #167
  • Dec 10, 2016 3:53am Dec 10, 2016 3:53am
Quoting PhilippineFX
{quote} Yes Yes Yes....and that`s just the tip of the iceberg. No Insurance premiums Weekends always off[or any other day you decide] Weather never a factor. Bad economic news is a good thing Election results irrelevant. No dress code You can work on a beach in SE Asia Or Paris if that floats your canoe It IS possible to make a lot of money Reading posts by Mingary raises your self esteem
this is the best.especially when the market gives you a nice holiday a.k.a no setup for your strategy
  • #168
  • Dec 10, 2016 3:56am Dec 10, 2016 3:56am
Quoting ericnyamu
{quote} this is the best.especially when the market gives you a nice holiday a.k.a no setup for your strategy
its the only business where you can make money from your toilet seat.
100% KENYAN.
  • #169
  • Dec 10, 2016 4:19pm Dec 10, 2016 4:19pm
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...
they pay double spread actually. it's fun because I see experienced traders hedging same pair and they seem very happy.
  • #170
  • Dec 10, 2016 4:29pm Dec 10, 2016 4:29pm
Quoting HeyYou
{quote} they pay double spread actually. it's fun because I see experienced traders hedging same pair and they seem very happy.
Depends on your time horizon. If you are a scalper - that's a huge cost relative to your profits (if any).
If you are a daytrader/swing trader it's not that important, but you pay also the swap rate for the two positions, instead of just one.
Also, the additional position blocks additional margin which you cannot use for other positions/or as a buffer.

So if someone has a losing position - it would probably be best to analyze things and if the strategy doesn't work out the way you expected, close the position even before the stop loss is triggered.

How big should the stop-loss be and how that affects profitability is another big and widely discussed topic.
  • #171
  • Dec 10, 2016 4:31pm Dec 10, 2016 4:31pm
The most profitable trader in ff is almost certain to be a scammer who has fooled you - this is reality .
  • #172
  • Dec 10, 2016 4:40pm Dec 10, 2016 4:40pm
Quoting Raynor
{quote} Depends on your time horizon. If you are a scalper - that's a huge cost relative to your profits (if any). If you are a daytrader/swing trader it's not that important, but you pay also the swap rate for the two positions, instead of just one. So if someone has a losing position - it would probably be best to analyze things and if the strategy doesn't work out the way you expected, close the position even before the stop loss is triggered. How big should the stop-loss be and how that affects profitability is another big and widely discussed...
You'll have to close the losing position sooner or later there's no need to wait... for what ?
  • #173
  • Dec 10, 2016 4:43pm Dec 10, 2016 4:43pm
Quoting HeyYou
{quote} You'll have to close the losing position sooner or later there's no need to wait... for what ?
That's what i've said
There's no need for waiting,even for the stop loss to be activated. If all markets head in the same direction and you are totally caught off-guard, it's probably better to exit and rethink things, reducing the drawdown.
  • #174
  • Dec 10, 2016 5:19pm Dec 10, 2016 5:19pm
Quoting Raynor
{quote} That's what i've said There's no need for waiting,even for the stop loss to be activated. If all markets head in the same direction and you are totally caught off-guard, it's probably better to exit and rethink things, reducing the drawdown.
cool . Stop losses are the best tool we have to manage risk, if we aim at long term profits!
  • #175
  • Dec 10, 2016 5:31pm Dec 10, 2016 5:31pm
Quoting HeyYou
{quote} You'll have to close the losing position sooner or later there's no need to wait... for what ?
You simply wait for the next trade setup for the pair. It could be the losing or winning side of the hedge you close depending on the direction of the signal. After that you simply manage the remaining position as if its a new trade.
  • #176
  • Dec 10, 2016 5:46pm Dec 10, 2016 5:46pm
Quoting PhilippineFX
{quote} You simply wait for the next trade setup for the pair. It could be the losing or winning side of the hedge you close depending on the direction of the signal. After that you simply manage the remaining position as if its a new trade.
Lolll ok try this on demo and then come back.
  • #177
  • Edited Dec 11, 2016 3:39am Dec 10, 2016 6:04pm | Edited Dec 11, 2016 3:39am
Quoting HeyYou
{quote} Lolll ok try this on demo and then come back.
I tried it on demo a couple years ago...It was amusing to watch the 2 opposing trades battle each other in a never ending fight to the death.
I have never used hedging in a live trade .
  • #178
  • Dec 10, 2016 6:16pm Dec 10, 2016 6:16pm
Quoting PhilippineFX
{quote} I tried it on demo a couple years ago...It was amusing to watch the 2 opposing trades battle each other in a never ending fight to the death. I never used hedging in a live trade .
Thatá boy. Can't tell you how many threads on here have people proclaiming that hedging (within the same instrument) provides a mathematical edge. It does not. The only benefit that a hedge could provide is some sort of mental discipline. But you would only be fooling yourself because it doesn't give you an edge on the market.
  • #179
  • Dec 10, 2016 6:22pm Dec 10, 2016 6:22pm
Quoting 2+2=4ex
{quote} That boy. Can't tell you how many threads on here have people proclaiming that hedging (within the same instrument) provides a mathematical edge. It does not. The only benefit that a hedge could provide is some sort of mental discipline. But you would only be fooling yourself because it doesn't give you an edge on the market.
If hedging gives the trader a mental edge then there is value in it. I know a couple successful traders who use it for this reason.
  • #180
  • Edited Dec 11, 2016 12:36am Dec 10, 2016 6:30pm | Edited Dec 11, 2016 12:36am
Quoting PhilippineFX
{quote} If hedging gives the trader a mental edge then there is value in it. I know a couple successful traders who use it for this reason.
The value is superficial and unnecessary though. I always felt like the best traders were the ones who didn't need this crutch. They fully understand the concept of net position. Also, hedging within the same instrument is costlier since you would be affected by swap on multiple open positions.
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