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How to make a living with trading?

  • #201
  • Mar 22, 2017 2:29am Mar 22, 2017 2:29am
Quoting ensale
{quote} LOL! Your right about that! I checked out blufx yesterday, instant funds given, 50k.. here's the Catch ! 240 a month including vat, + it takes two years to get to a million dollar account and with 1:2 leverage... Not worth it but who knows.
And you need to close all your positions on every night, what means daytrading with leverage 1:2 ..
Who is a sheep here?
  • #202
  • Mar 22, 2017 2:32am Mar 22, 2017 2:32am
Quoting ensale
{quote} LOL! Your right about that! I checked out blufx yesterday, instant funds given, 50k.. here's the Catch ! 240 a month including vat, + it takes two years to get to a million dollar account and with 1:2 leverage... Not worth it but who knows.
We just need to focus on ourselves. Build our account slowly and steadily
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 16.8%
  • #203
  • Mar 22, 2017 2:50am Mar 22, 2017 2:50am
Quoting 9jatrader
{quote} We just need to focus on ourselves. Build our account slowly and steadily
Absolutely..
It's in fear when people show what they truly value.
  • #204
  • Mar 22, 2017 3:47am Mar 22, 2017 3:47am
Quoting SuperPip
{quote} And you need to close all your positions on every night, what means daytrading with leverage 1:2 .. Who is a sheep here?
Exactly, I also saw that. Too much of their restrictions messes up my strategy completely so it is impossible for me to prove it. Thats the case in more or less every similar site i've seen.
I also don't understand the logic of those kind of "investors". Let say that I pass the trial on one of those sites and they give me 50k to manage. At the same time they give me (for example) 20% (10k) maximum drawdown restriction and max leverage 1:2. Ok, obviously they are willing to take a risk with me, but not more than 10k right?
Why don't they just give me 10k (instead of 50k) to manage and let me leverage it up as much as I want? Their risk with me is the same (10k), isn't it, or am I wrong? I come from small retail enviroment and my strategy is made to work in that enviroment, also my risk management is calculated for using high leverage. WTF i dont get that.

By the way, i'we been investigating a little bit with darwinex and their darwinIA trader ranking system. At first it seemed complicated. But now when I got to know it a little bit it seems great. Really great. They know how to calculate the common parameters which make a strategy profitable and stable on the long run. So they know how to compare every strategy apples to apples. That is the biggest problem with comparing different strategies. They obviously solved that problem pretty well. And also, they invest in the best strategies from their ranking. I will definetly join them. Next week I'm opening an account.
  • #205
  • Mar 22, 2017 3:52am Mar 22, 2017 3:52am
Quoting ensale
{quote} Absolutely..
Read my last reply. That is exactly why darwinex seems great for me. You can follow your progress as a trader via their ranking system. And if you prove yourself they will allocate their investment capital to you.
I will try them out and then share some experience.
  • #206
  • Mar 22, 2017 5:20am Mar 22, 2017 5:20am
Quoting PiranoTrader
{quote} Read my last reply. That is exactly why darwinex seems great for me. You can follow your progress as a trader via their ranking system. And if you prove yourself they will allocate their investment capital to you. I will try them out and then share some experience.
alphaomega mentioned some scalping issues. Did you check that out?
It's in fear when people show what they truly value.
  • #207
  • Mar 22, 2017 5:23am Mar 22, 2017 5:23am
even with restictions made like no overnight posisiont etc u can be ahead of the crowd.
so here it's a little trick to extract some money from markets
some time ago with another trader we designed a short term system (true be told it was his discovery in fact). I'm shure that some people discovered this before him. In fact Linda Raschke write some article on using MACD in a weird way.

-define long term trend or best in this case medium trend
use 5 minute charts
add to your chart: MACD 30,60,30 and MACD 12,26,5
Go long if (reverse for short):
-long term trend is up (define long term trend with sma100 or sma200)
-macd 30,60,30 is above 0
-macd 12,26,5 was below zero
-after first break of macd12,26,5 above zero buy next candle at the open
-STOP at the lowes low of the last 4 candles
-CLOSE half of position at break even
-Exit remaining position at 3 time risk

(it's realy an easy setup to spot,just i don't know to explain it better)

i sugest you first to take a lock at this and if its fits with your personality to trade it
Attached Image (click to enlarge)
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Price itself it's an indicator
  • #208
  • Mar 22, 2017 5:32am Mar 22, 2017 5:32am
Quoting m3rlin
even with restictions made like no overnight posisiont etc u can be ahead of the crowd. so here it's a little trick to extract some money from markets some time ago with another trader we designed a short term system (true be told it was his discovery in fact). I'm shure that some people discovered this before him. In fact Linda Raschke write some article on using MACD in a weird way. -define long term trend or best in this case medium trend use 5 minute charts add to your chart: MACD 30,60,30 and MACD 12,26,5 Go long if (reverse for short): -long...
5min is great, just the long term lovers will struggle with those rules
It's in fear when people show what they truly value.
  • #209
  • Mar 22, 2017 6:15am Mar 22, 2017 6:15am
Quoting ensale
{quote} 5min is great, just the long term lovers will struggle with those rules
Of course, but the rules are over ther to help you, thei reduce your trading frecuvency so you pay less comission.
But rules are also made to be broken, in real life and trading to.
again another trick if you have very small spreads

one 1 min chart put bb22,2
go long at the open if the open and close of precedent cande was outside lower bb band (reverse for short.)
PS i don't advise anybody to take what i write as true fact and trade on them, just to observ markets from diferent angles so that you can make your own discoveries of trick.
Price itself it's an indicator
  • #210
  • Mar 22, 2017 6:32am Mar 22, 2017 6:32am
Quoting m3rlin
{quote} But rules are also made to be broken, in real life and trading to.

Depends on your trading style, my rules are coded into my computer program and executed precisely as I have defined them. The challenge I have with discretionary trading, is how do you truly know what you have is an edge and not luck? I guess it comes down to a very long consistent trading record.
I live entirely from the growth of my personal trading account
  • #211
  • Mar 22, 2017 10:44am Mar 22, 2017 10:44am
Quoting guybaker
{quote} Depends on your trading style, my rules are coded into my computer program and executed precisely as I have defined them. The challenge I have with discretionary trading, is how do you truly know what you have is an edge and not luck? I guess it comes down to a very long consistent trading record.
You can easily find out what you have with proper backtesting.
I agree, my rules are coded and cant change them for everybody.
  • #212
  • Mar 23, 2017 8:22am Mar 23, 2017 8:22am
I don't know whether it's a good idea to break trading rules specifically. People have come up with them for a good reason, breaking them rarely leads to anything good.
  • #213
  • Mar 24, 2017 4:43am Mar 24, 2017 4:43am
Quoting zamans98
{quote} so, you are doing slightly above the herd but still not in the top notch retail trader. Since you are still unable to live off forex entirely,means there are gaps to be filled.
You are absolutely right. There are room for improvements and I am constantly trying to find it. But at the same time, I don't want to be too attached like how I did at the start and it affects the quality of my life. So I have decided not to depend on forex for a living but instead as a way to grow my wealth. I love the idea of going to my office, get my work done, take a look at the movements once a while in the day, play games, enjoy life and at the same time grow my savings gradually. And in the case I took consecutive losses, I have my salary to keep my daily as per normal.
  • #214
  • Mar 24, 2017 6:08am Mar 24, 2017 6:08am
Quoting mlawson71
I don't know whether it's a good idea to break trading rules specifically. People have come up with them for a good reason, breaking them rarely leads to anything good.
I think we must stick with the rule
Risk comes from not knowing what you're doing.
  • #215
  • Mar 24, 2017 6:39am Mar 24, 2017 6:39am
try www.cleofinance.com , i was joining them but unfortunately my trading skill is still far from good.
  • #216
  • Mar 24, 2017 9:33am Mar 24, 2017 9:33am
Quoting polystrenema
try www.cleofinance.com , i was joining them but unfortunately my trading skill is still far from good.


I joined them from their inception mid last year, and persevered though their teething problems. When I started making profits they banned my account, on the pretext that someone also registered an account from a similar IP address, which they claimed was against their Terms and Conditions.

Save yourself the trouble! That's my advice.
  • #217
  • Mar 24, 2017 1:05pm Mar 24, 2017 1:05pm
Hi fellows,

Interesting thread you got going here. As opposed to PiranoTrader I'm at the other end of the spectrum, I've been trading for about 8 years and 10 000+ hours I finally got the hang of it and thanks to the Stockholm real estate market I have made enough money to quit my job and start trading full time looking to start after the summer.

I'm not a terrific trader but I churn profits and manage to keep a low drawdown however while working full time I miss too many good trades and opportunities that I often end up at break even but when things are slow at work or I have time off I'm profitable. My plan is to put 150 k USD in my trading account and aim to average 10 % a month, living of savings for the first 6 months to reduce pressure to perform and not needing to make any withdrawals growing my account as much as possible while maintaining the same living expenses.

However when being in my situation, close to taking the step to trading full time a lot of issues and questions pop up. Such as what will my days be like, even though I'm an introvert I've figured out that I won't be able to sit at home trading all day alone, I'll manage a few weeks or at most a couple of months. In the long run I need people around me for at least a part of my day so I need to find a trading room or at least rent an office space. Another one is how to deal with those slow days when the market won't move at all, should I take a day off or stay patient waiting for the potential break out? I would like to travel and trade remotely but how much can I change my routines without losing performance and also adapting to trading from another time zone.

Well only I can figure those things out, just sharing what it feels like when facing the big change... Hopefully I'll figure it out and reach a million bucks within 2-3 years and start living the high life

Anyway I was looking for external funding I would turn to The Institute of Trading run by Anton Kreil, he and his associates have made so much money from trading that their concept is plausible to be the real deal.
  • #218
  • Edited 4:18pm Mar 24, 2017 3:59pm | Edited 4:18pm
Quoting cfta
Anyway I was looking for external funding I would turn to The Institute of Trading run by Anton Kreil, he and his associates have made so much money from trading that their concept is plausible to be the real deal.
I'm sorry but what kind of ripoff is this so called The Institute of Trading run by Anton Kreil? If you want to become institutional trader get a degree in finance and complete The Market Technicians Association (MTA) courses to get CMT (Chartered Market Technician) licence. Combined with few years of positive low risk trading record, you might get a job as institutional trader. Even then it will be hard as banks are firing not hiring currency traders nowdays.
  • #219
  • Mar 25, 2017 6:13am Mar 25, 2017 6:13am
Quoting Tom81
{quote} I'm sorry but what kind of ripoff is this so called The Institute of Trading run by Anton Kreil? If you want to become institutional trader get a degree in finance and complete The Market Technicians Association (MTA) courses to get CMT (Chartered Market Technician) licence. Combined with few years of positive low risk trading record, you might get a job as institutional trader. Even then it will be hard as banks are firing not hiring currency traders nowdays.
I second this 100%.
Anton Kreil is a scam. He talkes about banks, and since he has worked at several ones, everybody believes everything. But: he is bending the reality to his needs, to make a pitch out of it and sell you his course. I can tell you from my own experience in a Swiss bank, that he is bullshitting the people. Yes, some things are right, but some are just twisted, so that they serve his needs.
His main premise is, that you can't make money due to algos, unless your investment time frame / your holding period is longer than three months. And that in FX you can't make money, because there is very little volatility compared to equities.
Think hard why this is complete bullshit.

Tom81, you are right, big banks fire FX traders, because they can't afford to have some much own capital involved. Capital costs are too high, and I think Volcker Rule also makes it tougher.
Our trading floor is empty. I mean empty desks, with a keyboard here and there. Nowadays it's market making only so very IT focused. The promise is to be the best liquidity provider. Get the client in at the best price, the fastest.
Gone are the times where big banks traded against each other and traders are being paid 100k per year fix salary and 500k bonus. There might be some here and there,
It's all "Sales" now. Which is no different then selling cars.

Anyway, Kreil is B/S.
Demo only
  • #220
  • Mar 25, 2017 2:40pm Mar 25, 2017 2:40pm
Quoting Tom81
{quote} I'm sorry but what kind of ripoff is this so called The Institute of Trading run by Anton Kreil? If you want to become institutional trader get a degree in finance and complete The Market Technicians Association (MTA) courses to get CMT (Chartered Market Technician) licence. Combined with few years of positive low risk trading record, you might get a job as institutional trader. Even then it will be hard as banks are firing not hiring currency traders nowdays.
Hey slow down buddy, I never said anything about becoming an institutional trader, I was talking about external funding in the sense of raising additional capital from their organization. Why would any skilled trader want to become an institutional trader? Go to an office every day and being told what and how to trade, sure it can pay good money but for my part it can't buy my time or freedom which I get from being an independent trader if I succeed.

Honestly I have only looked in a little bit to their business and it's not of interest to me but I figured maybe it could be an option for Pirano.
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