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How to make a living with trading?

  • #161
  • Mar 20, 2017 7:34am Mar 20, 2017 7:34am
Quoting 9jatrader
Take this from Albert Einstein: "The most powerful force in the universe is the compound interest"
So true
  • #162
  • Mar 20, 2017 7:39am Mar 20, 2017 7:39am
Hi, Pirano,

I recently came across this, if you can meet their T&C's such as no overnights, it might be worth a shot.

https://www.blufx.co.uk/
  • #163
  • Mar 20, 2017 8:01am Mar 20, 2017 8:01am
Quoting Derivative92
Hi, Pirano, I recently came across this, if you can meet their T&C's such as no overnights, it might be worth a shot. https://www.blufx.co.uk/

OK, since I started this thread I saw some interesting possibilities. For example like this one blufx, or Apiary Funds or ActualTraders. The common practice with those sites seems to be offering funds for traders. But, i think all of them want me first to pay them (app. 100 - 150$ for some kind of "trial) before I get some funds. Ok, i have no problem paying to prove myself if I knew they are legit. But how can i know the're not just for my "trial fee"?
Those trials are apparently necessary for them to evaluate my trading. But why my trade explorer is not enough? Its is a live account with my own funds on it and with already ongoing history of trading? Why would i take a trial on their demo if they just want the proof that i can trade?
If some investor was interested in funding me as a trader i'd gladly give him direct access to my live trading account via investor password so he can follow my trading live.
  • #164
  • Mar 20, 2017 8:04am Mar 20, 2017 8:04am
Quoting PiranoTrader
{quote} OK, since I started this thread I saw some interesting possibilities. For example like this one blufx, or Apiary Funds or ActualTraders. The common practice with those sites seems to be offering funds for traders. But, i think all of them want me first to pay them (app. 100 - 150$ for some kind of "trial) before I get some funds. Ok, i have no problem paying to prove myself if I knew they are legit. But how can i know the're not just for my "trial fee"? Those trials are apparently necessary for them to evaluate my trading. But why my trade...
If im not mistaken, BluFX grant you capital immediately, so I think it's a better deal than paying a fee awaiting verification that could never happen. I think their safeguard is the ability to enforce no overnights, daily loss limits and quickly cull unprofitable traders. I think from my reading their £50,000 is only leveraged at 2:1 but can increase as you book profits which are on a 50/50 split.
  • #165
  • Mar 20, 2017 8:09am Mar 20, 2017 8:09am
There is a lot of talk about "prop firms". I must admit that I am not very familiar whith such firms. So could someone please explain to me how they work. As I understand (maybe I'm wrong) they offer some kind of funding for traders. Even if I as a trader have to risk my own funds (lets say 5k for example), do they "inflate" my funds so we share the risk or something like that?
I've been reading about prop firms but there is so much information that I get confused. I just need a simple answer - is it possible for me as a trader with some trading history to get any funding from those firms?
  • #166
  • Mar 20, 2017 8:15am Mar 20, 2017 8:15am
Does anyone have any experience with Darwinex?
Especially I'm interested in their DariwinIA. It seems that they offer reward fund of 2 million $ for the best 48 of traders every month? That seems very interesting option. Anyone with some personal info about their program?
  • #167
  • Mar 20, 2017 8:20am Mar 20, 2017 8:20am
Quoting PiranoTrader
There is a lot of talk about "prop firms". I must admit that I am not very familiar whith such firms. So could someone please explain to me how they work. As I understand (maybe I'm wrong) they offer some kind of funding for traders. Even if I as a trader have to risk my own funds (lets say 5k for example), do they "inflate" my funds so we share the risk or something like that? I've been reading about prop firms but there is so much information that I get confused. I just need a simple answer - is it possible for me as a trader with some trading...
If I was you.. an as you say a good trader... I would look for an option where no risk is applied to your funds.. apiary funds does such a thing as well actual traders...
It's in fear when people show what they truly value.
  • #168
  • Mar 20, 2017 8:34am Mar 20, 2017 8:34am
Quoting ensale
{quote} If I was you.. an as you say a good trader... I would look for an option where no risk is applied to your funds.. apiary funds does such a thing as well actual traders...
Yes. But If i understand correctly I would have to buy some training with them first? I don't need training. I just want to show them my live account trading results, then it is their decision if Im the right trader for their funding. Is that possible?
  • #169
  • Edited 10:42am Mar 20, 2017 8:34am | Edited 10:42am
Quoting PiranoTrader
{quote} OK, since I started this thread I saw some interesting possibilities. For example like this one blufx, or Apiary Funds or ActualTraders. The common practice with those sites seems to be offering funds for traders. But, i think all of them want me first to pay them (app. 100 - 150$ for some kind of "trial) before I get some funds. Ok, i have no problem paying to prove myself if I knew they are legit. But how can i know the're not just for my "trial fee"? Those trials are apparently necessary for them to evaluate my trading. But why my trade...
Be careful of scam. Why not concentrate on yourself before scammers reap you of your hard earned money.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -4.5%
  • #170
  • Mar 20, 2017 8:38am Mar 20, 2017 8:38am
Quoting PiranoTrader
{quote} Yes. But If i understand correctly I would have to buy some training with them first? I don't need training. I just want to show them my live account trading results, then it is their decision if Im the right trader for their funding. Is that possible?
No if your an established trader, you don't have to go through their training.
It's in fear when people show what they truly value.
  • #171
  • Mar 20, 2017 8:48am Mar 20, 2017 8:48am
Quoting PiranoTrader
Does anyone have any experience with Darwinex? Especially I'm interested in their DariwinIA. It seems that they offer reward fund of 2 million $ for the best 48 of traders every month? That seems very interesting option. Anyone with some personal info about their program?
Darwinex is one of my brokers. For individual trading they are OK.
Low s.preads, competitive commissions, fast execution....all great(so far).

But their "investor" trade copy service is crap. (Just like any other such platform).
Initially I had hopes for them but after some testing I was left very disappointed.

They use some crappy algorithms to "adjust" risk for the investors.
This changes the original strategy of the signal provider. Also the platform is very slow and does not accept HFT and scalping systems.

With my demo portfolio I've "invested" in all of the top 30 listed systems and after one year the portfolio is in the red. While at same time most of the original signal providers made good profits in their personal accounts.

This tells me that either their platform is complete crap, OR they deliberately manipulate and adjust the trades to make sure no one wins anything in the investor platform while they earn commissions on every trade.
  • #172
  • Mar 20, 2017 8:52am Mar 20, 2017 8:52am
Quoting alphaomega
{quote} Darwinex is one of my brokers. For individual trading they are OK. Low s.preads, competitive commissions, fast execution....all great(so far). But their "investor" trade copy service is crap. (Just like any other such platform). Initially I had hopes for them but after some testing I was left very disappointed. They use some crappy algorithms to "adjust" risk for the investors. This changes the original strategy of the signal provider. Also the platform is very slow and does not accept HFT and scalping systems. With my demo portfolio I've...
Therefore this tells me, it's best of avoiding trading for this model because you will be on the scrap heap pretty quick.. if you guys I have seen zulutrade and etoro, its a similar story...
It's in fear when people show what they truly value.
  • #173
  • Mar 20, 2017 9:00am Mar 20, 2017 9:00am
Quoting PiranoTrader
There is a lot of talk about "prop firms". I must admit that I am not very familiar whith such firms. So could someone please explain to me how they work. As I understand (maybe I'm wrong) they offer some kind of funding for traders. Even if I as a trader have to risk my own funds (lets say 5k for example), do they "inflate" my funds so we share the risk or something like that? I've been reading about prop firms but there is so much information that I get confused. I just need a simple answer - is it possible for me as a trader with some trading...
Have you tried this: https://www.myfxbook.com/autotrade ?
  • #174
  • Mar 20, 2017 9:22am Mar 20, 2017 9:22am
FXCM offering contest, another way to raise $$$. Deposit as little as $50. Has anyone contested and won from any broker?
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -4.5%
  • #175
  • Mar 20, 2017 9:59am Mar 20, 2017 9:59am
Quoting 9jatrader
FXCM offering contest, another way to raise $$$. Deposit as little as $50. Has anyone contested and won from any broker?
I would run the other way from anything that FXCM does!
It's in fear when people show what they truly value.
  • #176
  • Mar 20, 2017 10:15am Mar 20, 2017 10:15am
If you are highly disciplined and cool headed and have proper money management and your trading plan is successful for the last 24 months, then all you need is 5k capital to start.

Capital = $5000
Target = 15 pips /day, (average of 20 trading days, because some days you have to take losses)
Pick your lot size in such a way that average return per month = 20%
Compute your trade lot size daily based on equity.

Extrapolate the above for 12 months and your capital will grow to 50,000.

So after 12 months, you can easily make a living with trading, with 50K and making 15 pips constantly, your daily wages will be somewhere between $600 - $900.
  • #177
  • Mar 20, 2017 11:09am Mar 20, 2017 11:09am
Quoting alphaomega
{quote} Darwinex is one of my brokers. For individual trading they are OK. Low s.preads, competitive commissions, fast execution....all great(so far). But their "investor" trade copy service is crap. (Just like any other such platform). Initially I had hopes for them but after some testing I was left very disappointed. They use some crappy algorithms to "adjust" risk for the investors. This changes the original strategy of the signal provider. Also the platform is very slow and does not accept HFT and scalping systems. With my demo portfolio I've...

Thanks for the info.
I saw their DarwinIA, where they revard traders with trading capital every month. Any experience with that?
  • #178
  • Mar 20, 2017 1:27pm Mar 20, 2017 1:27pm
Quoting PiranoTrader
{quote} Yes. But If i understand correctly I would have to buy some training with them first? I don't need training. I just want to show them my live account trading results, then it is their decision if Im the right trader for their funding. Is that possible?
1) Build a 'good' track record (good = dealing with all conditions -> high vol, low vol, fast/low markets, ranging, consolidating, trending,etc...).

2) Setup a professional looking website where the center piece is your - continually growing - track record.

3) Become IB for multiple brokerages.

4) 'Aspiring' traders register on your website under you IB number.

5) From (4) select the ideal candidates to give them access to your system/s on an NDA basis.

6) Let them trade your prop systems as you collect comms of spreads as an acting IB.

7) Build a tight circle of traders who use your system (NDA) and keep in touch with them on a consistent basis to keep them from deviating/etc...

Just an idea...
  • #179
  • Mar 20, 2017 5:49pm Mar 20, 2017 5:49pm
Quoting PiranoTrader
{quote} Thanks for the info. I saw their DarwinIA, where they revard traders with trading capital every month. Any experience with that?
Nope. I can't make my strategies available for subscribers. Apparently their platform cannot handle my trading style.
Almost all of my trades are quick scalps with high leverage for a few pips, mostly during news releases and when the volatility is at least 2 times higher than average.
I never hold positions overnight. I fact my average trade duration is only 5 minutes.

The explanation they give is that this type of trading is considered "unscalable" for copy trading. For some stupid reason(s) they cannot replicate my trades. Other platforms like myfxbook also have similar problems.
With Metaquotes signal service you do not have such restrictions, however the subscribers get huge slippage on regular basis so the system becomes useless anyway.
All of these "normal" problems are typical ONLY for the retail industry.

The big institutional firms and the banks employ HFT strategies on a daily basis. How come they do not have such problems?
Not only they trade with huge volumes, but they do it hundreds of times per second. (during news for example). And they make a lot of money. (some of them).

The bottom line is that in terms of technology the retail industry is light years behind the institutionals....as usual.

Currently there is a huge gap in the market. There are many good individual traders out there but they do not have access to capital.
At the same time there are lot of people who have a lot of free capital and willingness to take risk and to invest....... but there is nothing in between.

The industry badly needs professional platform where the traders can meet investors.
We need fast, reliable and efficient platform without any restrictions, interference and manipulations from third parties.
  • #180
  • Mar 20, 2017 6:15pm Mar 20, 2017 6:15pm
Quoting heispark
{quote} Yes, that's another popular business. See how a small trader selling his service to small retails can make decent living. https://youtu.be/lSKT6o3gpo0 By the way, he quit his service for retails now. He had a deep DD lasted for about a year in EU, and he was critized a lot. How much can they make monthly? There is a clue. In MQL market (Metatrader service from Metatquotes), the top player has 1000 follwers. As montly subscription fee is $30, he makes 30K before 20% broker charge (yes, nearly a ripoff). Myfxbook or Zulutrade could...
Sounds like he only trades high cap clients now (1 mill +) according to the website, wish that guy the best, seemed like a cool guy, I heard of him a while ago.
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