$300 to $30,000 in six weeks trades by proforextrades

[zdforex]

April 12,2005

GBPUSD SELL 1 mini lot at 1.8919(Limit) SL 1.8970 TP 1.8800

I have a Sell signal, and open is above pivot, below M3, So my order is to sell M3 test at 1.8919 on limit, and I expect this day to be a M3-M1 play day.

Proforextrades

 

[maverick7h]

April 12,2005

GBPUSD SELL 1 mini lot at 1.8919(Limit) SL 1.8970 TP 1.8800

I have a Sell signal, and open is above pivot, below M3, So my order is to sell M3 test at 1.8919 on limit, and I expect this day to be a M3-M1 play day.

Proforextrades

Hmm that looks like an FXS chart to me. Don't rely on those pivot indicators. Speaking of indicators, if you're looking for Ms and Ws, you should have bollinger bands, a volume indicator, and a momentum indicator set up. While I agree with your sell signal this time, its because I have confirmation signals you might not know about. Its a pretty weak signal though. I wouldn't trade it live. Are you sure you know what you're doing? lol best of luck. Hope its all going well. I'm not here to put you down, I'm here to help...but thats because you seem to need it.

Lets make a game of this shall we? A little contest helps everyone improve faster. Here's my view. BTW I entered at 18910, SL 18936, TP 18870

What do you guys think?

 

[Faris]

Hmm that looks like an FXS chart to me. Don't rely on those pivot indicators. Speaking of indicators, if you're looking for Ms and Ws, you should have bollinger bands, a volume indicator, and a momentum indicator set up. While I agree with your sell signal this time, its because I have confirmation signals you might not know about. Its a pretty weak signal though. I wouldn't trade it live. Are you sure you know what you're doing? lol best of luck. Hope its all going well. I'm not here to put you down, I'm here to help...but thats because you seem to need it.

Lets make a game of this shall we? A little contest helps everyone improve faster. Here's my view. BTW I entered at 18910, SL 18936, TP 18870

What do you guys think?

Hello Maverick

Just looking at the chart you posted, how is it possible that you charts are showing volume?
I can see the charts are VT so im assuming you are using CMS as your broker.

Faris

 

[maverick7h]

Hello Maverick

Just looking at the chart you posted, how is it possible that you charts are showing volume?
I can see the charts are VT so im assuming you are using CMS as your broker.

Faris

Right. The VT charts are the best free charts I've ever seen, with the most complete set of indicators. Volume is rare indeed for most forex feeds, and yet its a critical indicator. I think maybe the only possible set of indicators you can use to achieve truly lag-free signals need to have a volume indicator with them. VT also has an accumulation/distribution indicator, which is also a rare but helpful indicator when catch M and W trends before they happen.

PS - At this time, it looks like a real M may be forming. We'll see.

 

[Edinburgh Bear]

so how do i look at what trades you are making?

 

[zdforex]

April 12,2005

Today's Result: -51

Week1 Day2 : 300-51= $249

Proforextrades

P.S. All Trades are closed daily at 21:00 CET(19:00 GMT now) and its only one trade set per day

 

[bulldozer]

I cant believe some of you guy's are falling for this jargon.

Proforex,
Just a few questions:

1. How did you come to the conclusion it will take 6 wks to mk £30,000

2. If / when your account grows to £10,000, how many contracts will you be on? and how wide will ur stops be.

3. What if ur stp-loss gets hit [when ur acct is on 10k] how much will ur acct be reduced.

4. Is it possible for ur acct to go bust when ur acct is at 10-20K or do you have a safeguard plan to protect ur gains.

5. We can see ur doing the trades on real time, are u also trading in real cash or paper trading.

6. If u had 60% success rate on ur trading? what do u think ur acct will be showing at the end of 6 wks.

7. To make £30,000 at the end of 6 wks, what % of success rate would u need to achieve.

Bulldozer
You dont need to be a genius to have common sense, but you need some common sense to be a genius

 

[bertie]

Proforextrades

bulldozer.....go back to page 1 and youll see the number of lots that need to be traded at each level to achieve the target......

anybody who uses fxcm knows that the closed positions box shows the time a trade was opened and the time it was closed so it should be difficult to fabricate the results......no doubt somebody will still say they are fake though.....

I cant believe some of you guy's are falling for this jargon.

Proforex,
Just a few questions:

1. How did you come to the conclusion it will take 6 wks to mk £30,000

2. If / when your account grows to £10,000, how many contracts will you be on? and how wide will ur stops be.

3. What if ur stp-loss gets hit [when ur acct is on 10k] how much will ur acct be reduced.

4. Is it possible for ur acct to go bust when ur acct is at 10-20K or do you have a safeguard plan to protect ur gains.

5. We can see ur doing the trades on real time, are u also trading in real cash or paper trading.

6. If u had 60% success rate on ur trading? what do u think ur acct will be showing at the end of 6 wks.

7. To make £30,000 at the end of 6 wks, what % of success rate would u need to achieve.

Bulldozer
You dont need to be a genius to have common sense, but you need some common sense to be a genius

 

[zdforex]

April 13, 2005
GBPUSD

Buy 1mini Lot at 1.8935(Market) Target 1.9108 SL 1.8863,
This maybe a Pivot-R3 day Play.

(For those who watch the market during the day, there is a chance
that the market reverses from 1.8985 to make another R1-S1 day
however, our orders don't count into this and we try to capture
the maximum possible move here)
Proforextrades

 

[zdforex]

Todays Result

0 pips, Breakeven trade

Week1 Day3 Balance $249

 

[zdforex]

April 14, 2005



Sell EURUSD 1.2875(Market) SL 1.2950 TP 1.2810



We have a sell signal, it opened between pivot and M3, and crossed down pivot without testing M3, sell at Market 1.2875. its maybe a Pivot-S2 day



Proforextrades

 

[rossored]

EDIT :

So, that'll be a 75 point stop, and a 65 point target?

R/R not up to much, is it?

 

[FetteredChinos]

ah now RR, we know you are a traditionalist on these things...

psychologically easier to trade a R/R closer to 1.5 than the "classic" 3.

or is this not the place to discuss TP's?

 

[JonnyT]

RRs have to be taken in context.

A 1:1 is absolutely fine with a 80% winning system.

In reality 3:1 is purely a myth unless you ar elong term trend following.

JonnyT

 

[rossored]

Hey, I wasn't suggesting it had to be 3:1. I tend to find myself taking 1.5:1 or 2:1 lately, because of the same reasons Jonny has said.

However, under 1? I think I'd step aside.

Anyway, I don't wish to drag this thread away on another topic.

 

[Naz]

I dont wish to get off the main subject but.......

I believe that so many day traders are satisfied with 1:1 and maybe even 2:1 and dont shoot for the bigger moves.
ie a 5:1 started as a 1:1 at some stage.If people get it in their head that 2:1 is great how will they ever get the bigger moves.When the standard R:R comes up they may feel satisfied and take it because their subconscious mind has told them its this is decent R:R.

I regularly shoot for 4:1 plus moves, last month demonstrating this live in front of 20 traders.

I'm sure brokers love traders looking for 1:1's but the money is in the bigger moves.Bigger moves come from trading things with more volatility.If your market dosnt have the volatility then it'll be harder to find those moves.Obviously this is just a personal opinion.I'm sure yours might be different.

Naz

 

[donaldduke]

Six weeks? Good luck, but if you can do that then you should be able to take the 30,000 to 3 million
in the six months after quite easily.

 

[zigglewigler]

If it helps I can do $30,000 to $300 in a couple of days.

 

[donaldduke]

If you can do 1:1 atleast 73% of time, you have mathematically what is known as a Holy Grail System.

However you still need to make sure you get loads of trades to become rich, 12 trades a year
will take forever. And if you arent patient enough you probably wont get a 73% hit rate. However
if you can find 3 trades a week with that ratio and assuming your trading size can scale ( S&P
futures, currencies and bonds, not stocks) you will become very very rich.

2:1 with a 60% hit rate is also a holy grail system.

 

[FetteredChinos]

interesting point there Ziggle..


perhaps we could get sharky to setup a Suicide Trading platform here on T2W

starting balance of say £10,000

maximum trade of say £10 a point.

lowest balance at the end of the week wins...

?