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5 years and still no strategy

  • #1,161
  • May 6, 2017 12:03pm May 6, 2017 12:03pm
Quoting jmn5611
{quote} You could make money flipping a coin. Or buying on sunny days. Or selling at the full moon. ( At some point someone is going to get what I am saying)
That's a losing system. I reversed it and started selling during full moon and buying on sunny days. Rest is history as my yacht, fleet of Ferraris and Bentleys and multiple castles will prove.
  • #1,162
  • May 6, 2017 12:13pm May 6, 2017 12:13pm
Quoting alexx90
{quote} metta this is a honest answer, it is not because of you. I'm not going to say either "yes" or "no" because I understand the power of words. First, I think that a statement like either "yes" or "no" is useless and I wouldn't receive such answer so I don't give such answer. Second, the moment I say either "yes" or "no" it will not be only a "yes" or "no", it will be more because people build castles over words. And I'm not here either to create fairy tales or destroy dreams, also because even if I do a statement regarding this topic I will...
Fair enough !
  • #1,163
  • May 6, 2017 12:42pm May 6, 2017 12:42pm
Quoting VEEFX
{quote} I love how you keep track of useful links here on FF... kinda walking 'encyclopedia britannica' Maestro The link from Copernicus is pretty much a word by word description on my journey (except running of 10 different EA.... I got one massive EA now that relies on a output of a Stat Generating script scanning more than 50K signals and picking ~300 winners from last month/quarter to trade this month/quarter corporate business cycle. It runs for 2-3 days on a weekend lol). I would also add that Approach#1 is necessary/crucial to progress...
In the time I have been here I have seen a number of people start a large thread, complaining about brokers and the gangsters in forex. Then they will take their followers, leave FF and start their own forums. And then guest what, every broker out there is crooked except the one they recommend.
If you are good at something, never do it for free--Joker
  • #1,164
  • May 6, 2017 1:02pm May 6, 2017 1:02pm
Save your time and efforts.

I am more than 15 years in this industry.
The only real way to make money on Forex is :
Become a broker, Become an Affiliate, Make your trading course, Develop related software

in other word use it to build your own bussiness.
No trader even successfull ones (and there are so few comparing to losers) survived for a long term
So stop wasting your time and efforts

Regards
Good luck
  • #1,165
  • May 6, 2017 1:31pm May 6, 2017 1:31pm
Quoting VEEFX
Some more PMs from the Maestro who changed the way I look at markets... {image} {image} {image} {image}

For the last number of years I have always been carful which threads to spend time on here in FF. Some are pure poison to my way of thinking and focus. Years ago had some moron attack me on skype, usually have a pretty thick "I don't give a shit" skin, but this attack affected my focus for days. But buried in here are some thought provoking gems. I like things that provoke thought.

To me the psychological side of trading is something to be guarded. What we post, what is read, trade explorers and the list goes on, has a potential affect on my psychology. I guard that religiously. I think all to often someone new to Fx and reading every post that catches their eye greatly underestimate this. I know I did and it cost me time.

It is great that VEEFX had a mentor to go to for specific direction and specific answers. Mentors like this are hard to find.

Need to get rolling with my weekend work.

Thanks VEEFK, Hanover and many others
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,166
  • May 6, 2017 1:34pm May 6, 2017 1:34pm
I wanted to stay out of this thread, but certain things need to be cleared up.

The term "offshore" is often times used be people who do not understand the fact that many well known corporations are themselves "offshore" entities. Offshore therefore, ends up being used by the uninformed as a pajorative, when indeed it is nothing more than a very well known strategy to reduce tax burden.

What is the reciprocal of offshore other onshore. When a corporation is headquartered onshore, that corporation falls under local taxing authority jurisdiction. Jurisdictions world wide have been left as is, so they can provide the wealthy with advantages related primarily to reducing tax liabililty.

It won't be until the Trader developed a sufficient base of capital that they start looking for leagal methods to preserve their hard earned assets. That's when "offshore" stops being a pajorative in the mind of the Trader and starts becoming a serious tool in the corporate planning toolbox. Suddenly, that same individual starts making phone calls to attorneys who specialize in Foreign Corporate Structuring or Entity Structuring, because they now need help in protecting what they worked so hard to produce.

Lastly, it is up to the individual as to how seriously they take their trading. If one gets an email touting an "offshore" broker and has not done the homework about what an offshore corporation means or how to establish one legally, then complaining about having received such an email is rather pointless. Regulators such as those in the US have done an outstanding job of destroying Retail FX while not issuing problem solving regulations instead. There could have been a thriving and healthy retail FX industry in he US by regulators had too much interest in moving capital into the futures market - or so th thought.

Offshore is what it is. It was established by international bankers and financiers long before any of us were born and the concept itself is not going away any time soon. Simply learn how to play the game and when you graduate from retail hell, you will be very glad you did.
The Event Horizon
  • #1,167
  • May 6, 2017 1:52pm May 6, 2017 1:52pm
Quoting jmn5611
{quote} In the time I have been here I have seen a number of people start a large thread, complaining about brokers and the gangsters in forex. Then they will take their followers, leave FF and start their own forums. And then guest what, every broker out there is crooked except the one they recommend.
If they finally did their homework and learned which FX intermediaries are worthy of trust, then they've done themselves a huge favor.

Most retail Traders will not put in the work necessary to finally become the kind of Trader they say they want to be. Learning how to grow real capital long term is not easy and the vast majority of retailers will not make it.

Bucket Shops who manipulate the price stream, spreads, at market trade execution and platform connections are only one of the problems that retail Traders have to find a way to solve. Learning to generate revenues consistently and positively grow capital over time by running trades like a business and inside a well designed business model that has expectation as a function of actual dynamic trade performance, is something precious few retail Teaders ever think about or know how to build.
The Event Horizon
  • #1,168
  • May 6, 2017 2:04pm May 6, 2017 2:04pm
Quoting VEEFX
Some more PMs from the Maestro who changed the way I look at markets... {image} {image} {image} {image}
I never tried diversification in forex, but a few months ago I've bought a bit of bitcoins, and spent them on buying around 20 promising altcoins. 12 of them either didn't rise at all or started slowly falling, 5 started slowly rising, 2 made massive gains, and 1 is the most stable gainer. Long story short my unrealised profit flactuated from 100% to 50% (once again a small sum). But I'm still in a stable growing profit. Had I invested everything in just one of them, i had only 1/20 chance. Diversification seems to work great from my experience. However they are commodities, which are not really correlated positively or negatively to my knowledge.
The truth is hidden from you
  • #1,169
  • May 6, 2017 2:08pm May 6, 2017 2:08pm
Quoting luis borges
Things to consider: - Trading is a business. Forex trading is big business. - AI plays a big role. - Big DATA analysis also plays a big role. - We need to know what High Speed Trading means... - Powerful Hardware and fiber optics are a must. - We need lots of money to really make lots of money in trading Forex - If you own a BANK, that helps - If you a own a trading company, that also helps - Don't invest you money. - Trading for big money is almost "dirty business". - Making money in Forex can be: wining for every trade you make no matter if you...
small trader can make a living trading only if he prepared and build or acquire profitable system.
  • #1,170
  • May 6, 2017 2:31pm May 6, 2017 2:31pm
Quoting Redeflect
{quote} What timeframe are we speaking of? My ideal situation is to scalp a profit on a breakout and then re-enter when it retests. 2 trades for the price of 1.
Am not referring to scalping method. Am talk about daily and longer TF- swing trading
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 15.3%
  • #1,171
  • Edited 3:29pm May 6, 2017 2:47pm | Edited 3:29pm
Repeat the strategies that are successful.
Making the wrong strategies no longer.
  • #1,172
  • May 6, 2017 3:51pm May 6, 2017 3:51pm
Quoting Talker
Save your time and efforts. I am more than 15 years in this industry. The only real way to make money on Forex is : Become a broker, Become an Affiliate, Make your trading course, Develop related software in other word use it to build your own bussiness. No trader even successfull ones (and there are so few comparing to losers) survived for a long term So stop wasting your time and efforts Regards Good luck
Which one are you?
The funniest, is that nobody takes me seriously.
  • #1,173
  • May 6, 2017 3:54pm May 6, 2017 3:54pm
Posted this in my journal, Thought it would fit here.


This photo intrigues me. Has such a group this distinguished ever met again? Excluding Forex Factory of course.


Attached Image (click to enlarge)
Click to Enlarge Name: EinsteinGroup.jpg Size: 72 KB



The fifth Solvay International Conference on Electrons and Photons, was held in October 1927. Prominent physicists from all the world met to discuss the newly formulated quantum theory. 17 of the 29 participants were or became Nobel Laureates.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,174
  • May 6, 2017 5:10pm May 6, 2017 5:10pm
Quoting VEEFX
I have developed compilers for languages used on large mid-range computers and then moved to business applications and then financial apps. Throughout my trading journey since 1998, I was never ever inclined to automate trading because I just did not believe a large organic market of participants and sporadic events could be tamed by a fixed set of rules to accommodate all market types and styles.
Sounds like there are similarities in our backgrounds in IT (for example, I worked on a privately funded R&D project developing a 4GL for the IBM mid-range (S36/S38/AS400) during the 1980s, and have also worked largely on corporate database, business, financial and industrial applications).

Re the financial markets, I started out in 2001 naively believing that writing profitable automated systems would be simply a case of finding a winning mathematical formula. Now I am wiser (and poorer!) as a result, and I believe precisely for the reason that you say, i.e. that "a large organic market of participants and sporadic events" can't "be tamed by a fixed set of rules to accommodate all market types and styles.")
  • #1,175
  • Edited 5:53pm May 6, 2017 5:34pm | Edited 5:53pm
Quoting VEEFX
I will also say this... Any strategy that is based ONLY on Price is a failed Strategy ... chew on that for a bit. You can never fully understand the market participants and economic structures just by looking only at price action.
That is just your opinion. If someone can make price action alone work for them then that is a winning strategy. Check out Nial fuller and then tell me Price action alone doesn't work. So many people here are far too quick to criticise other peoples ideas.
Indentify > Plan > Accept > Execute
  • #1,176
  • May 6, 2017 5:44pm May 6, 2017 5:44pm
Quoting dukas_trader
so for this hedging topic i cant see why you say its an other good example, when you speak before about different trading strategies can win (because its an objective mathematic easy topic - and different trading strategies are subjective topics because there are many different parameters possible)?
Sorry if my post lacked continuity; I deleted a couple of paragraphs prior to the "hedging is another good example" because I thought they got too far off-topic, then I got called away suddenly by my wife!
Quote
then crucial point is useless example.....
It matters little to me whether CP (or anybody else) is profitable or not. I'm not interested in people, only in ideas that I can develop further for myself. But even if I find fresh ideas that I think might be useful, I always test them for myself.

Every forum has its share of blowhards and know-it-alls, and I take nothing for granted that isn't backed up by solid evidence, regardless of member rankings or profit statements.
Quote
you can set blind different lines in chart, you can set lines in chart with a distance of 50 (or wahtever) pip,..... and you will get same trading strategies hits like using pivots points /fibonacci, ..... you can win with all trading systems if you are trained by math and market basics/structure and you can lose with all when you are not. its a math game in many components.
Agree that in trading you can't avoid math completely, but there are plenty of traders who are profitable without using advanced statistics or portfolio math.
  • #1,177
  • May 6, 2017 6:38pm May 6, 2017 6:38pm
Quoting VEEFX
{quote} Continuing with my Bold Statements... here's another one. Anyone who has a trading website or into training or newsletter or writes eBooks or have Ads on their blogs, Youtube or any secondary stream in income in the field of trading... is NOT a Trader... is NOT a full-time Trader... is NOT a profitable Trader... is NOT a successful trader If you believe they are then I feel sorry for you. You lack common sense, you are naive, you lack judgement, you are easily prone to manipulation, you lack self-reliance, you will rely on your parents to...
Well i don't think you are a successful trader. But not being a successful trader is no reason for me to have anything against you - what I don't like is your bad attitude - that makes me dislike you.

The sooner people like you realise that others can profit from ideas that may not conform to the norm, the sooner you might start to make profit for yourselves.

Chew on that for a bit
Indentify > Plan > Accept > Execute
  • #1,178
  • May 6, 2017 6:38pm May 6, 2017 6:38pm
Quoting VEEFX
{quote} Continuing with my Bold Statements... here's another one. Anyone who has a trading website or into training or newsletter or writes eBooks or have Ads on their blogs, Youtube or any secondary stream in income in the field of trading... is NOT a Trader... is NOT a full-time Trader... is NOT a profitable Trader... is NOT a successful trader If you believe they are then I feel sorry for you. You lack common sense, you are naive, you lack judgement, you are easily prone to manipulation, you lack self-reliance, you will rely on your parents to...

If they have a wife or kids they're probably already broke.
"The fun is in the hunt. Not the kill."
  • #1,179
  • May 6, 2017 6:52pm May 6, 2017 6:52pm
Quoting VEEFX
{quote} Continuing with my Bold Statements... here's another one. Anyone who has a trading website or into training or newsletter or writes eBooks or have Ads on their blogs, Youtube or any secondary stream in income in the field of trading... is NOT a Trader... is NOT a full-time Trader... is NOT a profitable Trader... is NOT a successful trader If you believe they are then I feel sorry for you. You lack common sense, you are naive, you lack judgement, you are easily prone to manipulation, you lack self-reliance, you will rely on your parents to...
Rob Booker has all of those and is profitable.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,180
  • May 6, 2017 6:59pm May 6, 2017 6:59pm
Quoting hanover
{quote} Please understand that I am not targeting anybody in particular with this post; I am merely speaking generally, based on my 12 year experience of discussing topics on trading (and other types of) forums. Some people simply think along different lines. They can seem frustratingly irrational. I've come to understand that it's not necessarily they who are wrong, and it's not necessarily me that's wrong. There are merely different ways of looking at things, and it's easy for anybody (myself included) to get...
I concur.
And some people are just irrational not to mention childish.
It is easy to see who is who when the name calling starts.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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