The Active Forex Traders Discussion

[stressfree]

No..you are wrong...I was in that ind for 5 + years....met the odd good forex trader who eventually blew up or quit the other 95% were full of b*S*.

obviously you got schnuggered. your fault. that doesnt make every trader full of shit. most people may lose money but some people are actually profitable!

 

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[stressfree]

SELF EMPLOYED V BUSINESS:

Hmmm..because staring at a quote machine 8+ hours d ay isn't my isdea of fun LOL It's hardly passivve money is it if you do it all your-self? It's like ask Bill Gates why he has employees if he's such agreat programmer?

It's actually called setting up a business as opposed to being self-employed. If a good trader can make me 5percent per month I'd rather invest with them than sit at the computer 5 days a week/ 8+ hours making 10%....think about it.

I thought that would be quite obvious on this forum? So Warren Buffet should just invest him-self? Or build a billion$ + money management firm and have others do the "work?" Geez......sometimes I can only shake my head.

i

f you know about forex why are you handing your money over to someone else to trade and blame when things go wrong?

I never blamed anyone my friend.......i said most are full of B*S* and that's a fact. I screeend traders before i invested. You'd be amazed how many I could catch out by asking simple trading questions. They know very little about money management or risk. Go on and on about "their fantastic system..." Until it blows up.

 

[CarrieW]

I wish I had the power to remove people from posting in this thread.

you were in the trading industry doing what? obviously it wasnt trading or you wouldnt have been handing over your money to someone else.

I cant believe anyone with your attitude towards trading was ever a professional trader. I do however believe you were like a gopher or something who got way caught up in a sales pitch and then ripped off by a professional who saw you comin a mile away.

if I answer phones in the doctors office does that make me an md? would I go on and on about what a snake oil salesman the drs really are cause some people died in his care? u know what people die. people lose money doesnt make it all wrong or bad. just makes you unlucky and or unprepared.

try learning something instead of blaming others maybe if you actually figured out how to trade you wouldnt be so sore about losing money in your own ignorance.

 

[stressfree]

and if anyone could make 10%+ per month forex trading that's al lthey would need to ever do. They'd be worth $10 millions .....but i have never met one yet. (sure they'll all appear here now) LOL Or even worse amazing robosts that can make 30%+ per month no risk!

 

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[stressfree]

WHY? Give me one valid reason? Why so defensive? I have merely stated some facts.......

I wish I had the power to remove people from posting in this thread.

 

[CarrieW]

no you have stated YOUR OPINIONS nothing you said was FACT in any way shape or form. have you read all 17 pages of this thread? you will see what I am so defensive.

 

[stressfree]

Man you can't seem to grasp the "money/Asset management" bizz at all. So Mutual funds, Hedge funds, George Soros, Warren Buffet etc...are what lousy "traders?

It's caleld running a passive busienss where you are not tied to being slef meployed vs being slef employed which isn't exaclty Fast lane is it? Can you grasp that at all?

Even MJ homself says "run a Hedge fund" do not invest in them, and I am certain trading forex for your-self does not fit his definition of Fastl Lane.

you were in the trading industry doing what? obviously it wasnt trading or you wouldnt have been handing over your money to someone else.

Trader + Managed accounts........ok?

 

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[stressfree]

What an unbeleivable contradiction:

You said:

I cant believe anyone with your attitude towards trading was ever a professional trader. I do however believe you were like a gopher or something who got way caught up in a sales pitch and then ripped off by a professional who saw you comin a mile away.

Tal kabout a crock of sh** you just made up. Unbelievable.

Then you said:

no you have stated YOUR OPINIONS nothing you said was FACT in any way shape or form. have you read all 17 pages of this thread? you will see what I am so defensive.

HYPOCRITE!

Any how...what I am "trying" to get across to you is...money managemnt biz = Proper business
Trading in you mums basement with you $10k savings = ????? Does that sound Fastlane to you?

 

[stressfree]

Man i think the real question here is why are you sooo defensive on this? ( i presume you mange OPM in forex? If you have along term audited track record with satisfied customers then what's your problem ?)

I have no idea what you are going on about here....I am not going to read this whole thread. I told people some facts about the bizz. And i am sure many looking at Fastlane principles will agree with what I have said.

if I answer phones in the doctors office does that make me an md? would I go on and on about what a snake oil salesman the drs really are cause some people died in his care? u know what people die. people lose money doesnt make it all wrong or bad. just makes you unlucky and or unprepared.

try learning something instead of blaming others maybe if you actually figured out how to trade you wouldnt be so sore about losing money in your own ignorance.

and talk about "making things up again... Yuo just can't seem to grasp what I have been saying about money managers as oppsoed to self employed traders....????

 

[CarrieW]

I suppose we will have to wait for mj's thoughts on that cause i only speak for myself.

the difference between trading forex or anything for yourself by yourself is the fact that the only person who has control over your money is yourself!

when you invest into a hedge fund, mutual fund, 401k ect you are at the mercy of the people who manage that fund. you cant call them up and say no wait i dont want my money to go there or I think you should invest in this company here.

ITS ABOUT CONTROL. when I trade My trades with my money its MINE noone can say shit about anything cause I only answer to MYSELF.

and you comparing a regular trader like me to warren buffett or george soros is redicioulus, I would venture to say that they are more like me in their thinking then they are like you. they are the epidimy of trading being fastlane. all you did was prove me right by throwing their names into the mix. they didnt start out having teams of people under them they worked and traded their way to the top! then hired people withwhom they taught the ways of trading and gave them rules and still they manage them! they arent handing out money to people to do with what they want. they are traders trading a plan with people who help them achieve their plan.

the entire point of trading forex(for me) is to build capital in which to purchase actual passive income investments. your returns can be exponential with forex not linear, if i work I can only make so much money per hour. with leverage and trading correctly I can make an unlimited amount. thats what makes it fastlane.

Basically your entitled to your opinions no matter how much I may disagree but theres a time and a place to post those opinions and in the active forex traders where people are activly trading and loving it probably isnt the best place. Its not something thats open for debate. and just because you post an opinion in black n white doesnt make it a fact.

and idk how many times I have to repeat this. I AM NOT A MAN, I AM NOT A DUDE, I AM A FEMALE FOREX TRADER AND MOTHER OF 2.

 

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[CarrieW]

money managers are employees and have people to answer too and get a paycheck. traders are investors who answer to themselves and try to create wealth.

I do not manage anyone elses money. you shouldnt post an opinion on a 17 page thread without reading it. nothing you have posted is anything new, and did not need to be said AGAIN. we all know what the majority of people think. and you know what? NONE OF US CARE. your not going to post some ephiphany to make me stop trading. even if you think its a waste of time.

 

[stressfree]

man you have to be kidding me? So what's you highest drawdown ever been? I am guessing with that kind of risk must be over 30%. Which in my industry is FAR too high I want go into "sharp ratio and Key Kelly ratio" Go on then tell me your monthly profit %...

But...right away your risk and peak to peak drawdowns are too big.

o limit my losses to no more then 5% per trade untill I grow my acct size. (once i hit a certian threshold I will drop down to 2% per trade)

 

[CarrieW]

What an unbeleivable contradiction:

You said:


Tal kabout a crock of sh** you just made up. Unbelievable.

Then you said:


HYPOCRITE!

Any how...what I am "trying" to get across to you is...money managemnt biz = Proper business
Trading in you mums basement with you $10k savings = ????? Does that sound Fastlane to you?

I honestly dont need you to repost what I posted. I was with myself when I did it so I know what I said lol.

yes I will admit I came up with a theroy as to why your so against trading. I thought it sounded good/plausable.

what exactly did you do with trading/forex then? and why did you hand over money to other people to trade?

I have no desire to manage/trade/invest other peoples money. you have no idea how I trade so how can you say if I am propery trading or not? I am a married mother of 2 with my own basement I dont need to trade in my moms. and no I dont have 10k in savings. I am trading with far far less amounts of money (which is something someone else said was impossible just fyi)

Like I said if you bothered to read this thread or any other on forex on this board you will see that this has been discussed before.

feel free to start your own thread about whatever you want, as I said before this thread is for active forex traders. not bashing them or their choices.

 

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[stressfree]

UNBELIEVABLE!!!!!

on the Fastlane forum you say this LOL

so what do you make in a good monh? $5-$10k? And time off? Hardly passive business is it?

your whole attitude is just so wrong on a business forum it's laughable.......

Average trader makes about 25% of what money managers do.

Self employed vs business owner..

I wonder whay you are even on this forum? I am sure other will agree. You are not running a business you are trading your time for money.

I find this staggering.So Warren Buffet is an employee? LOL really?

money managers are employees and have people to answer too and get a paycheck. traders are investors who answer to themselves and try to create wealth.

 

[CarrieW]

every time you ASSUME STUFF it makes you look more and more like you have no clue of which you speak!


my risk is 5% per trade. $2.50. when I get to $250 it will be 2.5% still $2.50. no where near 30% lmfao. You have no idea what your even talking about. then it will stay att 2.5% per trade no matter how high my balance rises.

largest draw down would be my $250 account I lost. highest drawdown on this current account is from 100 to 80. which i am back up to 99.68.

what now?

 

[CarrieW]

no as@@@@@ hes the boss your really pissing me off and i hope you get your a$$ banned.

 

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[stressfree]

Because I wanted to set up a business of asset management but in traded forex.....great in theory...but I could never get the forex traders to perform long.

Trading for my account, especially day trading..never appealed to me. I'd rather get out and get a J.O.B.

what exactly did you do with trading/forex then? and why did you hand over money to other people to trade?

 

[CarrieW]

well forgive me but another thing you would know if u bothered to read the thread is that I am disabled and cant get a j.o.b.

not all of us are that lucky they can go out and work.

 

[stressfree]

Let him read these posts and ban anyone he feels fit. I am not the one ranting and name calling here..and your "theory about self employed/business is 100% wrong."

Screaming about deleting posts, banning just because I have posted some facts on forex trading.....I think you need to grow up a lot..

So let him read and decide.

 

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[stressfree]

ok i am sorry to hear that...but i am trying to show you possibly you can turn self employment into a busienss. There's more money in it and eventually you free your time. Doing this by your=self is not scaleable.

well forgive me but another thing you would know if u bothered to read the thread is that I am disabled and cant get a j.o.b.

 

[CarrieW]

ok i will say it again YOU POSTED YOUR OPINION NOT FACTS.

I have been here sicne 2007 and you just got here. I basically was fairly nice in telling you what this thread was about before I got nasty. you proceeded to argue and insult even after I asked you to stop.

in case you didnt notice this thread was started by ME. your twisting things and taking things out of context and trying to prove what you posted/think is right. when it is not.

you can think I am 100% wrong and I dont care. just get it out of MY THREAD ON ACTIVE FOREX TRADING. if you dont have anything to say or discuss about ACTIVLY FOREX TRADING your in the wrong place.

 

[CarrieW]

ok i am sorry to hear that...but i am trying to show you possibly you can turn self employment into a busienss. There's more money in it and eventually you free your time. Doing this by your=self is not scaleable.

I have NO DESIRE in touching any one elses money. how can you say its not scalable? you have no idea what my trading plan is. I have a plan already for my life/investments. I know how and where and when I will free my time.

so instead of trading and keeping 100% of my profits I should go out and get a job managing other peoples money for a paycheck and a %? and we laugh about me being on a business forum? or i shouldnt go out and get a job I should start my own forex trading fund company and take other peoples money and risk it. ahh I see thats fastlane!

 

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[Jonleehacker]

Carrie,

Even if Stress is right and there has never, in the history of trading, been a consistently profitable forex trader, then all that means is you have the opportunity to be the first one!

Don't let other people's beliefs determine or even affect your reality. Van Tharp says that we don't trade the market, we trade our beliefs about the market. If he believes it is impossible to make money, that's the experience that he chooses to have, you don't need to be affected by it.

Remember it wasn't all that long ago that only birds could fly and the world was flat.

 

[CarrieW]

ty for your post jon.

Well today as of right now I am currently in 6 active open trades and my platform has shut down. they have had some kind of an error and it took the platform offline. I just had to call and wait almost 25 minutes to be able to speak to someone and I closed out all my trades when their system comes back online. I have no clue what I am up or down or how long its going to be before the server comes back up.

the guy has to manually go in and adjust everything by hand and close out my trades and back up the prices to the time of my call.

I hope that it doesnt affect my account too much and I can recover quickly when they get the platform back up.

this sucks...


well finally everything is back up, I was able to reach tech support after it came up and cancel those manual changes so I am back up and running and havent lost anything as all my trades are still open!
yay crisis averted!

 

[garyfritz]

Whoa, calm down boys and girls.

LOl..if you can do that [400%] one year fully audited I'll just invest cash with you and sit on the beach...but I'll bet you can't.

I'll be pretty surprised if I do 400% too. I'll be delighted if I do 200%. So far though, trading 6 weeks out-of-sample, my results are matching the backtest results.

man you have to be kidding me? So what's you highest drawdown ever been? I am guessing with that kind of risk must be over 30%. Which in my industry is FAR too high I want go into "sharp ratio and Key Kelly ratio" Go on then tell me your monthly profit %...

FWIW: The backtest results on my system (which are basically mostly out-of-sample) show a Sharpe of 3.34. Two brief drawdowns over 20% in the last 20 months but mostly under 10%.

Again, that is backtesting, and I'll believe it when I can duplicate it in realtime. But I've been doing this for a long time. I co-managed a $10MM commodity fund back in 2001. I know what I'm doing pretty well.

And FYI some trades in that backtest risk 5% or more. But that's based on very careful analysis of the historic Kelly ratios and taking larger risks only on consistent performers.

I agree with you that staring at the screen all day is not something I want to do. That's why my system is built to only require attention once a day. Furthermore I intend to automate it soon so I don't even have to worry about being at my computer at a certain time. Set up like that, trading requires almost no time. If (**IF**) I can get several hundred % on a $50-100k account, I'll be pretty satisfied with that.

And if I can actually produce results anything like that, I already have some people approaching me to manage client money. They're setting it up to be almost zero hassle and headache for me. That would give me the multiplicative leverage that would make this seriously Fastlane.

 

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[stressfree]

if you are so pro forex trading why don't you go on the Forexfactory and baby pips forums?

This forum is about business building not gambling on the forex market.

 

[stressfree]

Yeah completley agree IF you can do it...but I have seen dozens of traders with very similair "systems" and once rwla money was in......it never happened.

Good luck. At least you see how managing O.P.M. is morte of a bizz opportunity than CarrieW who seems to think he's going to strike it rich trading his own account.and all Money managers are stuck in a J.O.B. UNBELIEVABLE

 

[stressfree]

No I didn;t say that did I? I said the ones I came across to manage accounts were all full of B*S*. And I see it so many times. Super duper systems, think they are the new Paul Henry of the forex workd....3 months later gone....

Tharp's books are good...but let me tell you something here. He doesn't even trade. YEP. Even admits it in Market Wizards. He's a trading "coach" and he makes his money selling shovels to traders. As most do. Pretty smart I.M.H.O.

Carrie,

Even if Stress is right and there has never, in the history of trading, been a consistently profitable forex trader, then all that means is you have the opportunity to be the first one!

 

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[stressfree]

I CANNOT BELIEVE you actually believe this?

I should go out and get a job managing other peoples money for a paycheck and a %? and we laugh about me being on a business forum? or i shouldnt go out and get a job I should start my own forex trading fund company and take other peoples money and risk it. ahh I see thats fastlane!

Oh dear.......

 

[stressfree]

That's EXACTLY IT: But you think attracting OPM/ Auditing accounts, managing traders is an easy business? It's funny how you think managing your own account is Fastlane yet setting up a forex "mutual fund" isn't.

I seriouslky think MJ needs to say something here about the principle of Fastlane. And how you are not in it.

He states many times "self employed..is not fastlane" The more you serve the better.....so how does your trading fit into that?

I should start my own forex trading fund company and take other peoples money and risk it. ahh I see thats fastlane!