The Active Forex Traders Discussion

[MJ DeMarco]

What total gains has anyone made in this after 5 years?

You make a good point.

In the 10 years that this forum has been around, we don't have ONE Forex success story. Nor have I gotten wind of one.

In the time this thread has started to today, someone could have made millions utilizing a Fastlane strategy and already been set for life. But we're still talking about "I made $200 this week."

And a 60 page thread that is years long demonstrating nothing doesn't bode well.

Not trying to stunt anyone's preferred path for income (or wealth), but this just isn't something I'd be focusing on.

If anything, sounds like the people getting rich are the shovel sellers.

 

[MJ DeMarco]

I will not be gone as long as people are talking shit about me. Or trying to suck energy out of me. I stand up for myself.

You've been banned from the thread. The guy simply asked if you were gone, which he thought you were unofficially. I made it official.

And a note for the others, carry on but please refrain from mentioning the thread-banned user any further.

Thank you.

 

[Deleted21961]

System I am using: Oanda shows ratios of long/short positions and updates every 15 minutes. I look at three pairs, EUR/USD, GBP/USD and USD/JPY. When there is a ratio of 30-35 / 70-65, I play against it, i.e. when 70% of positions is long, I play short.
I look at the news to see when not to trade. Had something like 90/10 profit/loss in 2014 playing that way. Oh, and I use low leverage.

 

[CarrieW]

Hindsight analysis means NOTHING. proof is in the pudding. Not the recipe. I don't want to keep having to say this. This thread is for active forex traders. Please keep opinions and historical analysis to a minimum unless it has to do with a FUTURE LIVE TRADE you are placing. There are plenty of places to talk about the theory of trading this is for those ACTUALLY trading...

 

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[loop101]

You guys think it's easier to pick stocks? I am kicking around opening a demo stock account or something. Anyone trade the nfp today? I am still neg is my aud/USD trade and I'm quite surprised actually. Banked 2x on the EUR/USD. Looking for one more and I will try to be out if that by end of trading today.

To trade Forex profitably, I am having to trade infrequently, with very small amounts, and using very little leverage. I probably could do better trading stocks. There is more variety in stocks, so there is more opportunity. A friend of mine ran a fund, and currencies were part of it. He only traded the USD because he found all the major "pairs" were just reflections of what the USD was doing. All of Forex was just one "commodity" in his portfolio.

With stocks, you can use the beta value to diversify. The beta is a correlation coefficient of how much the stock moves in sync with market itself. A 1.0 means the stock moves with it exactly, a -1.0 means it moves opposite. A 0 means it is neutral. You can combine +1/-1 stocks, or use 0 beta stocks, and build a portfolio that is more diversified than the market average. This will allow you to make non-correlated bets, which will allow you to have a smoother return. You don't want to buy a bunch of stocks that mostly follow the market average, because then you are effectively making one bet. If you want to buy the market average, there are ETF's that do that.

If you want to trade stocks/ETFs, I would suggest reading these two books (they are very simple to read):

http://www.amazon.com/dp/B007RSLN7M/?tag=tff-amazonparser-20

http://www.amazon.com/dp/B008G0YCX2/?tag=tff-amazonparser-20

These books have very simple systems that you can tweak to fit your own needs. There are websites that track how they have done since 2008. The biggest problem I have with them, is that to get the most out of most of the methods, you need to be able trade 15 minutes before the end of day - meaning you have to be able "day trade". The purpose of this is to get a jump on the people opening the trades the next day. Trading the end-of-day price gives you a significant advantage over people who have to wait until the next day. The end-of-day method requires you pre-compute some "trigger values", that will cause you to take a trade at the end of the day. If these "trigger values" are exceeded, it will mean the next days indicator will have surpassed an important value. For example, if you buy Sears stock when it goes over the 200 SMA, you need to know what value today will cause it to be over the 200 SMA tomorrow. If it closes today above that trigger-value, you enter at the end of the day. Tomorrow, other traders will see it crossed the 200SMA and buy it, but you are already in it. So you get a boost for being in early.

 

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[M&A]

I am getting back into the currency market after about a 2 month break and would love to join in on the conversation and bounce ideas off.

I have about 2 years experience in trading solely currencies and gold.

I started with about 3000$ back in may 2014 and ran it up over 1,000%, mainly by shorting EUR, GBP, JPY against USD and catching some short term trends in cross pairs.

I don't use indicators, I rely on news announcements, price action and try to get a feel for how people are behaving and thinking in the market.

I make most of my money on well timed, leveraged shorts before large sell offs or in the middle of them.

A typical trading plan for me would be:

Account value: $10,000
1. Watch all major and cross pairs like a hawk and never trade not even 1$ until I speculate a large multiday move is about to happen, usually fueled by a new announcement or break of a certain price level.

2. Place trade maybe 10 times account value with stop 50- 100pips.

3. Scenario A: A day later and nothing happens - Market doesnt move, I am out no matter what the pnl is.
Scenario B : Market moves heavily against me I get stopped out - lose 5-10% of my account.
Scenario C: Market acts like I predicted falls 100+ pips, I move stop to break even and let the trade run until a it closes higher than the previous day open - I make 0-70% on my account which pays for all my ill timed trades.

I usually make 1-3 trades a month, my largest drawdown was about 22% which in the grand scheme of things wasn't that bad.

My biggest tip to new traders NOT INVESTORS is to capitalize on large directional market moves, where you gain 25-200% on your account.

 

[bringitnow28329]

How successful are you?? Just wondering. Nah. I am not that successful. But I will be. So it doesn't F*cking matters.

And what do you mean with "talk a lot"? I have around 300 posts since 2011.

Had to edit my post. To what I really feel like it should be like.

The reason for day trading over swing trading or position trading, is because you can have more of a salary. It's not a guaranteed 9-5er slave worker salary, but your "average" daily profits can add up to for example $1000 per day to a fixed amount, if you learn to be consistent (which most people don't ever become for several reasons.) At the same time compounding means that as your account size grows, the risk you can accept becomes larger, and therefore your expected returns do as well. When you swing trade, position trade or buy and hold for the long term, you don't have any sort of salary so to speak.

On top of this as another person said, when you don't have thousands of dollars on the line, it's much easier to sleep at night. Also a strategy has to suit a person personality. Some people will never be successful at day trading, but when they don't have to look at the screen all the time they will thrive due to their patience. Other's will be successful in the short term taking profits quickly, due to extreme discipline (like myself), but in the long term they will want to take profits to fast and swing trading just won't work for them due to the fact you must let profits run for days weeks or months.

And yes I am a full time professional trader with 12 years experience so I am not just pulling this out of my @ss like some people here who have no experience and are just regurgitating what they read online.

 

[M&A]

Could you please explain how you're trading at the moment?

High leveraged (20-50x account value) directional plays catching the large intraday move, like today it was a EUR/USD short for about 40 pips got out after an hour or so.

 

[P3HSB]

hey guys! I'm still here. So here is an update. This month I was able to pull in 7% returns. It is my biggest month so far. I cut down most of the pairs I traded as I realized I was losing money on them. Now I mostly trade EUR/USD. I am starting to get more consistent. My entries are getting better. Exits not so much. I tend to take profits to early (emotions get in the way). One thing I have notice that helps me a lot when trading EUR/USD is to actually look at the DXY chart. If DXY goes up the EUR will fall. Then I do all of my analysis on both charts and try to line up the next move.

Currently I have no open trades. My last trade was on monday 3/21/2016.I just made a $1000 deposit to fxcm yesterday. It is bank holidays so not much going on right now. I will be watching for the EUR/USD to pop back to the upside waiting for a retest around 1.13400 lvl or 1.14700 lvl.

Also something I realized. FXCM mini accounts no longer is supported with myfxbook, which is a total bummer . I talked to the reps and they said you have to upgrade to a standard account in order for them to re-enable the API function so you can publish through my fxbook.

 

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[bringitnow28329]

You make money in the market by taking advantage of somebody else that is less informed and more under capitalized than you. That is really the only way. None of these forex robots work. None of these seminars are gonna teach you how to actually trade profitably. It take's time and an understanding of risk management. The fastest way to lose is to try trade on leverage which is exactly what the forex market wants you to do as they give you access to 1000:1 leverage and advertise you can start with $20.00. You will FAIL if you do this again and again. Forex brokers are nothing more than bucket shops trading against their unsophisticated customers.

Learn the ins and outs of a trading system with some sort of edge. Either go through the process of learning to code and finding a system or try to find one that has an edge. 99.9% of the stuff forsale is pure crap. People don't sell systems that actually work in general unless theyre is some sort of constraint like a lack of liquidity (which is rare in forex since it's the most liquid market on earth) which means they can make more moeny selling the system than they can actually trading it.

Once you have something that works take $50k and trade with little to no leverage and let the probabilities play out. Don't expect to earn 300% per year but instead be realistic and shoot for something more achievable like 20-40%. That's how you make money in the forex market or any financial markets for that matter. Don't have $50k? Stay away from Forex or trading in general until you do.

I've traded for a living since 2002. It took me 2 years of consistent losses to start making money. Trading isn't what most people think it is. It's actually boring to trade profitably. I literally do the same thing every single day. Trading is very difficult to learn. It's one of the only things you could do for your whole life and still be unsuccessful if you don't learn from your mistakes and realize how traders operate. It's not about how much can you make... It's all about how much can you afford to risk in order to not go broke before the probabilities work in your favor. As a discretionary trade it's about learning how to control yourself from making poor emotion driven decisions. Even armed with this info you will still make these bad decisions until you get kick in the balls enough and it hurts so bad that you finally give in and start learning to control risk and keep losses manageable.

 

[outsourcery]

Carriew,
I thought I'd chime in given the ridiculous comments by stressfree, whom I assume is either a kid at school, or a comfortably employed nobody who thinks that all it takes to run a business and make the 'big bucks' is a big attitude. Life will sort him out sooner or later.


Back testing is useful for 1) Confidence building (discretionary trading) or 2) Feasibility testing (largely automated systems). If u need to do either of those things, forextester is a simple effective program. It's not so useful if you trade off changes in economic data however....

I've been trading my own book for a few years now, and it can be done. The only reason I am posting here is because I got tired of seeing uneducated comments from brainfree. For intraday trading, fx markets are 50% momentum, 50% *new* fundamental data. If you understand sentiment, understand data expectations and consequences of varying data, then it is not hard, but it is still stressful.

By far the hardest thing about making a buck, is maintaining discipline. If you can't trade with 100% attention, don't trade. You're just giving away your money, even if your approach is a good one.

Ultimately trading FX is still a job, I cannot argue that point. However, it SCALES better than any job, and SCALES better than 99% of small businesses. You can always access as much credit as you need, and you only need 1 staff member, plus you can liquidate and step aside if conditions become hostile. The only problem is that it requires an extreme level of self discipline, more than most people are capable of maintaining for any period of time.

I know several traders that manage small private funds, and do very well for themselves. You don't need to be warren buffet (or soros) *lease* a ferrari and or a yacht. If you know what you're doing, you have a recession proof source of income that will give you time to build other businesses as well.

You don't need secret sauce recipes from the web either, its all about hard work and self discipline (like most things in life, that don't involve a lottery). Know the data, know the markets, know yourself.

Good luck!

 

[Shuffle]

Hi guys!

I just wanted to drop by because long story short I attempted to create value in a business and failed many times. It just didn't feel right for some reason.

It just so hapenned that I stumbled upon forex around 11/12 and it basically took my soul HAHA. Sure this wasn't anywhere near my passion but it sure as hell felt RIGHT with my personality.
I've been a system/strategy jumper, sometimes staying up days to read different methods. Ended up realizing it was a total waste of time and found that price action with just S/R levels on the daily TF suited my personality. I just found that I really enjoyed it and am happy that I have found the Forex market. It might not be considered fastlane to many, but hey its definitely better than my other job I'll tell you that much...

I was one of of the many who rode out the USD/JPY EUR/JPY and GBP/JPY to death LOL. Might jump back on if price indicates it.

Looking forward to all the good and bad stories

 

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[Udine]

yesterdays' trades..

@ London open:

EU/EJ/GJ to TP
GU out by trailstop

time in the markets... 4 minutes.. result: daily target reached

Later the last EJ trade: out by trailstop

Udine

 

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[Udine]

here is some food for thought, if you want to succeed in forex:

http://www.forexfactory.com/showthread.php?t=215432

read it a few times, for sure will help you in all your endeavours !!!

Udine

 

[HighestVantage]

Oh wow, just realized this thread started in 2007. Okay.

Well let me share what I have learned from reading and playing around with forex. I'll probably no doubt cover things already discussed...

Common questions that are asked about Forex:
But first, about Forex. Forex stands for Foreign Exchange, you may hear or see it called Forex, FX or The Currency Market. Forex supports the exchange of floating currencies. This just means any country that has a floating currency does not base their currencies value on something valuable, like gold. The Gold Standard has an interesting history and used to create a sort of cyclical import/export effect between countries. Anyhow, The forex market is actually the biggest market in the world, and thus the most liquid, trading around $2-Trillion daily.

How does it work?
You can trade US Dollars for Canadian Dollars, or US Dollars for Euros, or vice versa. These are called Currency Pairs. A currency pair is basically the equivalent of a stock. Forex is to currency pairs as Stock Market is to stocks. There are many pairs that you can work with, but a handful are very popular and have the most activity. Other markets focus mostly on immediate to mid-term events, while the forex market is focused solely on global long-term events.

Can you actually make money?
Of course you can. But like any financial market you can lose some too. Here is my favorite story of making money in Forex.
http://www.investopedia.com/ask/answers/08/george-soros-bank-of-england.asp

How much do you need to start?
You can start with almost nothing. Unlike other financial markets, with the Forex market you can start with sometimes $25 or $50. Since you usually will be offered leverage anywhere from 100x to 1000x your initial investment. This is also the only way you can make any money since Day-to-Day a currency pair probably moves a cent or two in price. You use massive leverage, and you trade to fractional cents. Usually Pips or Basis Points. (refer below)

Benefits of using Forex.
-Due to the size of the market liquidity won't really change if you're trading with $100 or $10 Billion.
-Since it is a HUGE global market most events are seen as small. Did your country has a bad winter, or a "major" catastrophe? Big deal, at this level it all averages out.
-They are always open. You can trade at 1pm or 1am, doesn't matter to a global market. You can have your money working more hours of the day.

Like anywhere you can find Experts, the stock market and the currency markets all have their own lingo. Some things you might run into that I initially found confusing.
Basis Point: 1% change = 100 basis points, and 0.01% = 1 basis point.
Pip: the smallest move a currency pair can make is $0.0001, or one basis point.
Currency Pair: These are all pairs USD/CAD, EUR/USD, AUD/USD or USD/AUD, Etc.

 

[loop101]

Since the USD/CHF usually runs opposite the EUR/USD, a lot of grid traders use it as a proxy for shorting the EUR/USD. Grid-trading bets the price will move in a range, so I assume a lot of them got wiped out, or are stuck with negative positions. There were always a ton of grid-traders on the Oanda forum.

 

[P3HSB]

Bagged a total of 42.8 pips today on USD/JPY

 

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[loop101]

I recently saw a simple discretionary system that I liked, called "The Duck's Trading System" over on BabyPips. There is a group of people who have been trading it for 7 years. Basically you make sure your pair is on one side of the 60SMA for 4H, 1H, and 5M. Then they use a "recent high" or low as their stop loss, and put a take-profit at some multiple of the loss (1.5x, or 2x). They leave the exact stop levels up to the individual trader. They usually use 1% or 2% on each trade. They seem to be doing adequately.

http://forums.babypips.com/free-forex-trading-systems/6580-3-ducks-trading-system.html

In Forex, I basically proved to myself there is no mathematical edge that I am able to exploit, so that leaves no trading or some discretionary system. The "3 Ducks" system is just the normal "make sure 3 time scales are in alignment" system that people have been advocating since the early days of the Dow. If they are only trading the right (volatile) pairs for the current time, and not trading during major news announcements, they will probably do okay.

 

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[mt_myke]

After a 2 year break I opened a new demo account last night, while waiting for FXCM to approve my live account. As of this writing I'm up almost 100 pips on EU long...going to try for the midpoint of that breakdown from last week, then think about going short.

https://charts.mql5.com/6/827/eurusd-m15-forex-capital-markets.png

 

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[loop101]

Hello, new member on the forum. I've been trading demo for the past one year, recently became profitable.

What exactly do we discuss on this thread? Been looking back a few pages and there aren't any strategies or anything...

--

Anyone trading using price action? I'm a more technically focused trader, with some notice of fundamentals but they don't really affect my trading that much, I just use the news to determine the general bullishness or bearishness of the market.

I purchased and am trading the "Advanced 3 Ducks" system by "Capt Currency" at the babypips website. From what I saw from his free version, it was exactly the type of system I was coming up with. Except he not only finished it, but traded it full time for 11 years. He also spent a lot of time and effort making his course materials. Because it is a private system, I can't really discuss the details. Now that I have studied it, it appears to be legit, and I am in the process of getting use to using it. Since it is a discretionary system, there is no way to know how much money it "should" make, but I am guessing it will be profitable overall. The system basically just requires you to spend 30 minutes each night putting in limit orders that are active for the next 24 hours, a very low-maintenance system once you get use to it.

Another method I am interested in, is the "make 5 pips a day" method that Uniden(sp?) spoke of here and at forexfactory. He seems to be trying to be super-accurate by only going for 5 pips each day. What makes these systems interesting is that if you are fairly certain your trade will immediately be profitable, you can use extreme leverage. I use to call these systems "tightrope" systems, because if you make a mistake, you are usually dead. For example, If you can double $10 ten times, you have $10k. I'm currently refreshing my tick and 1M data to see what time windows might offer the best chance to make 5-10 pips, as Uniden claims he does. What I hope to find is a series of rules that can define a very precise trade, such as "during the first 30 minutes of the London session, if the price moves 15 pips in one direction, it is 80% likely to continue another 5 pips, before losing 10 or more pips".

Whereas the "duck system" will probably at best provide a "normal" return, a "tightrope system" has the potential to turn a little bit of money in to a lot of money (at the risk of all the money).

Discussing trading on a website is usually perilous. There are always "vague experts" who will make grandiose claims of trading skill, naysayers who say the markets are completely random, thieves who will package and market any good ideas you present, "vendors" who sell systems they wont trade, "followers" who just want to follow someone else without having to think, and a whole cast of other archetypes. I've been online since 1983, and on the internet since before it was called the internet, and these same types of people are always there. I've seen multiple people turn $5k in to $100k, just to lose it again. I've lent people money and helped them develop their systems, who later went on to run $100M funds. I've seen an endless number of scammers. The one key thing that is useful with websites, is that you have to start somewhere, and there is good information out there.

What I like about this thread, is that this is basically Carrie's thread, and while I do not agree with her methods, she is out there actually trading, and reporting on what she is doing. There is a limit to how much you can learn from someone else's experiences, but since she is trading real money, she is learning a lot, so there is a lot for others to learn here. She rightfully has little patience for people who come in to this thread and start making noise without any substance.

My only advice to her, is to maybe open an Oanda account so she could trade with smaller amounts of money. That would enable her to keep trading even after taking some losses. For example, I am testing the 3 Ducks system in a $100 account. Because it is real money, I am a lot more focused, yet my screwups last week only cost me 6 cents. If you are trading, you are taking losses, but if you are still learning about the market, ideally those losses should not cause you to have to stop trading.

leecx, you may want to use the news to determine when *not* to trade. One of the reasons I got the 3 Ducks course, was because he was an advocate of knowing when not to trade. If you can eliminate news-based price spikes, your chances are generally better (unless you are trading the spikes themselves). An interesting side-effect of avoiding news, is that it makes most historical charts useless. For example, if you only trade on (hopefully) news-less days, you should not consider old charts that contained news events. Yet how many people do that? How could they? The sure sign of a scammer is that they will have a trade for every occasion, never will they say, "Actually there was an interest rate announcement that day, so I would not have been trading at all."

I once went to a brutal karate school, who's students wont a lot of tournament trophies. When asked how they won so many trophies, they said it was because they participated in tournaments whenever they could, and that the trophies were just a byproduct of participating without losing. From what I have seen in the markets, they work the same way.

 

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[P3HSB]

I am not liking how much this eur/usd trade is against me. Lol. I have faith my overall mindset is right but damn its so hard to watch.

Banked a lil more on the audusd last night.

Biting nails over here lol

Ouch!

I have 0 positions open atm.

I've decided to stay out of trading for this week due to the "Non-Farm Employment Change"

 

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[Zachariah Lange]

I just started reading about Forex trading after reading a large portion of this thread yesterday. Is it weird that I find it easier to sort through the thousands of different stocks and find a winner? So far all I have read on Forex trading along with the tools on my practice account I still have zero idea of what I am doing!! It sure seems like fun though, so I am going to keep reading up.

On a brighter note I sold my first stock yesterday after holding it for 3 months for a 10% return. I then reinvested those earnings in two more stocks the same day. I already sold one today for another 10% return, and the other has me in the green already with plenty of room to grow. I have been doing small-mid cap stocks, I have one long term investment that pays good dividends and the rest of my investment is being used on higher risk quick gainers so I can keep it growing. My plan is to eventually buy more long term Large-cap stocks when I have a good war chest built up.

 

[loop101]

Recently I am getting into trading as well. Can someone experienced tell me where is the best place to start, right now I am reading babypips.com and I am thinking for becoming elitetradersorganization.com member if I can.

So what you think is the best way to learn trading?

I would say do this:
- read about the different approaches on babypips
- trade a demo account with the broker you choose, so you can learn the mechanics of the trades
- trade micro-transactions with real money (trade $1 at first), as soon as you grasp the basic mechanics
- increase the amount of money you are trading as you get experience
- never enter a trade without knowing exactly how much you are willing to lose
- always remember you are making educated guesses, and that nobody knows where the market is going
- have a monthly or annual maximum loss that will cause you to stop trading if you reach it
- use the least leverage (something like 90% of people who trade with more than 20:1 lose all their money)
- know that most people who claim to be successful forex traders are lying
- only trade the EUR/USD until you can do it profitably, then look at other pairs

 

[M&A]

Yeah no. I don't do stops... I have done immensely better without them. Even if I get stuck in trades

I agree, I had a short EUR/USD, I woke up and it was 70 pips against me, I would have got stopped out if i had my usual 50-75 pip stop or had some fearful response, instead I traded around the position and waited for Eur to fall 100 pips in my favour for a $3000 profit

I could have been -$2100 but instead I profited $3000, a difference of $5100 in my pocket.

When I first started trading I realised more often than not I was right at calling the market direction but usually I was a day or 2 early and would get stopped out.

When I stopped using hard stops it changed my equity curve dramatically.

The only exception is when I am highly leveraged on a short term <12 hour position.

 

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[TennisOrDie]

I never said that anyone needs to be immoral by trading Forex. I'm just speaking how I feel. And I know I'm very alone in my feelings. You could probably say that I have a "moral problem" in general with everything. I don't know where it comes from. I get an idea for a fastlane business, after a while I figure out..."nah it's too immoral" in some way.

I am speaking mostly about the banks too. With the article I posted. Hard to know what the big banks are doing, right?

Okay. Hope that clears up it a bit. I'm not implicating that I am better than anyone because I choose to not trade Forex right now.

Sounds like you like to find any excuse to not take action.

When you trade with real money you realize that the market is just a reflection of your state of mind. People think it's about what indicators you use or what strategy you implement. Hell no. Most of the money you will lose will because of your emotions. You got nervous so you tightened your stop, you're careless so you didn't use any stop, you sold too early, you sold too late, you went in when there wasn't a good opportunity. These are the reasons why people fail at trading. It's not because of the system. There are many profitable systems in the world, but not that many profitable traders.

Here's an example of what I mean by soul searching and looking within. One of my biggest problems in trading was over trading. I would get addicted to being in the market. As soon as I closed an order, I would jump right back in regardless of if a good set up showed up. Addiction has been a problem throughout my life and now it's costing me money in trading. I will improve as a trader by knowing my tendencies and by knowing myself.

Trading is like golf. The opponent you are playing against is yourself.

What I mean when I say trading is simple is that all you have to do is buy low and sell high or short high and cover low. That's literally all profitable trading is. It's very simple. But to do it consistently and profitably is what's hard.

 

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[CarrieW]

Oh wow. I didnt see the nastiness. When I started this thread I was not yet trading. There is not a list of requirements to post here. Play nice guys... I did get the same feel from your posts though. You think you could make all that money. Wonderful. I think I can do a lot of things. I know how to put in an engine. My husbands a mechanic. I even demoed it... Guess what... I cant actually install an engine. Knowing how to do something and being able to actually do it are 2 completely different things... Those who can do those who can not talk....

 

[M&A]

I should note that I no longer swing trade as I have found a much more profitable method to trade.

Now I trade like a prop trader instead of a fund. I take out half of my profits each month and trade huge size intraday.

If I did this from the beginning Im sure I would have millions with the way markets traded last summer.

For this method to work you have to be right at calling short term market direction 60% of the time (this gets easy after 1000s of hours of watching prices move) with very tight stops and not be afraid to leverage to the hilt. Its a similar style pit traders used in the 80s 90s to get rich fast. Its very tough mentally and you have to be OK with risk and not be afraid to admit you were wrong. A great week with this strategy is risking 12% to make 40-50%.

 

[CarrieW]

I did start the thread before I started live trading. But I never once have claimed I know or have figured out anything. It's not what you say it's how you are saying it. I just want to keep this thread civil. Most of us in the thread don't care about how right your call was when you don't have enough balls to put your money where your mouth is... For the record I did not change the thread title. Mj did. Its his forum. If you want to talk theory and hindsight analysis about your OPINIONS so be it. Here we care about trades actually happening IN REAL TIME. I could spend the weekend doing historical analysis and show how many thousands of pips I could have if I shorted the eur. But the only trades and opinions THAT COUNT are the trades I HAD THE BALLS TO OPEN.

 

[CarrieW]

You could but you wont. That is the point...
This is for people who feel like trading.

Noone is kicking you out.

We just dont care about how right you think your opinions are.

Theres a hundred other forums for bullshit talk from people who know everything but dont "feel" like trading.

I know a$$ tons about rei and 1031 exchanges as well as importing and marketing and retail business. I can build websites and know about seo. I can sell affilliate products and do Google ads. I know how to write a blog too and how to make money off it. You dont see me continually arguing with the people doing it on their threads telling them how I know I could do it bettee than them if only I "felt like it" that kind of talk isnt really welcome anywhere on this forum. Its not just this thread. So if you can contribute something USEFUL to the conversation feel free to join in. But all the other bs take somewhere else please. I dont want to drive off actual traders because you keep on with your theorys...

 

[CarrieW]

That article was pretty poorly written. But I think I understood the point the author was trying to get across... I don't know which part of the article upset me most lol

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