Compounding billionaires on t2w

[ffsear]

Compounding figures like that is a load of bull****!.. If you can't see why then go back to school.

 

[15 min tlb]

Compounding figures like that is a load of bull****!.. If you can't see why then go back to school.

Either there are too many frauds making an average 27 pips or kidding themselves in fib fib fibonacci delusion , or too many geniuses on forums , but no one knows who is correct , not even the geniuses.

 

[15 min tlb]

Even George Sorros had liquidity issues shorting $10bn , all the forum geniuses who can't afford new underwear have views and opinions with free keyboards at no cost.

On September 16, 1992, Black Wednesday, Soros' fund sold short more than $10 billion in pounds,[22] profiting from the UK government's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries or to float its currency.

George Soros - Wikipedia, the free encyclopedia

George Soros - Forbes

You better believe the opinions of forum genuises.

 

[random12345]

All the professionals may take a few more years to become billionaires , due to liquidity and slippage.

I'm aware you're trolling T2W, but at least it passes time... which professionals are you talking about that trade in these sizes you dream of? You realise that big money doesn't 'scalp' (your obsession) as such in the way you talk about professional scalpers - they trade always in on a short term timescale all day long... they sure as sh*t aren't waiting for a box breakout. Though that may well be one of the many core libraries used (ahem)... they have sophistication in that their entries are relatively good and they have the latency edge to be able to monitor momentum in a way that is completely inaccessible to us, and even if it was (which it never will be unless you live next to the exchange with a leased line up your ar*e), exiting low momentum early would cost us too much due to commission or marked up spreads. If I could use a fractal line model on a tick by tick chart and monitor momentum as an exit rule, I'd be set for a hundred lifetimes. However fractals are not really usable for me on a short term scale due to the commission I pay, even at 0.5 basis pts. It's an incredibly uneven playing field.

Even Paul Rotter, from what I can gather, basically traded in a short term always in style, not scalping. Though the semantics of the term aren't agreed on anyway.

Bah, I'm giving away a lot of free sugar in this thread and I think it will alllll be ignored.

 

[ffsear]

Either there are too many frauds making an average 27 pips or kidding themselves in fib fib fibonacci delusion , or too many geniuses on forums , but no one knows who is correct , not even the geniuses.

Regardless, if you compound an average, that figure is no longer the average. Simple

 

[random12345]

Even George Sorros had liquidity issues shorting $10bn , all the forum geniuses who can't afford new underwear have views and opinions with free keyboards at no cost.

On September 16, 1992, Black Wednesday, Soros' fund sold short more than $10 billion in pounds,[22] profiting from the UK government's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries or to float its currency.

George Soros - Wikipedia, the free encyclopedia

George Soros - Forbes

You better believe the opinions of forum genuises.

Sigh... don't let facts get in the way of a headline eh? Soros did not compound the money he used to place that short.

You're talking about individual RETAIL TRADERS compounding their money from scratch so that they get into a position of being a big player. Remember?

SOROS WAS AN INSTITUTIONAL EMPLOYEE WHO USED HIS CONTACTS TO SET UP A FUND (or in fact was placed there by an employer as far as I recall, but this sounds sexier).

The most profitable industry in the whole wide world is known as networking. That way you can get old money to make new. Making new from very little new is something so incredibly rare. 1st World Networking >>>>> retail trading.

If you want to be like Soros, you're already far behind if you're in your 30s. You need to get a job at an IB, do 10 years of the grind while you network your absolute balls off and... forget it, it's too late. I've got a headache.

 

[15 min tlb]

Sigh... don't let facts get in the way of a headline eh? Soros did not compound the money he used to place that short.

You're talking about individual RETAIL TRADERS compounding their money from scratch so that they get into a position of being a big player. Remember?

SOROS WAS AN INSTITUTIONAL EMPLOYEE WHO USED HIS CONTACTS TO SET UP A FUND (or in fact was placed there by an employer as far as I recall, but this sounds sexier).

The most profitable industry in the whole wide world is known as networking. That way you can get old money to make new. Making new from very little new is something so incredibly rare. 1st World Networking >>>>> retail trading.

If you want to be like Soros, you're already far behind if you're in your 30s. You need to get a job at an IB, do 10 years of the grind while you network your absolute balls off and... forget it, it's too late. I've got a headache.

I could actually give you a written trading plan on how to do it successfully, but then I would be handing you the holy grail.You may believe what you want , but you don't have the formula achieve to it , so you don't know how it is done.

It is all on the charts , the entire network is visible on the charts , just need to know how to read the underlying on charts.This type of chart reading is learnt by intuition.You don't need that network , it is like following the muppet masters.

Any of you could have got into the Sorros trade , just by reading charts.You should know your opponents as well as your self , and how to defeat the opponent with intelligence.

 

[Shakone]

15mintlb, you've had a couple of threads here on live calls, which is very difficult so kudos for that. From those, what is your average pip per day gain?

 

[random12345]

I could actually give you a written trading plan on how to do it successfully, but then I would be handing you the holy grail.You may believe what you want , but you don't have the formula achieve to it , so you don't know how it is done.

It is all on the charts , the entire network is visible on the charts , just need to know how to read the underlying on charts.This type of chart reading is learnt by intuition.You don't need that network , it is like following the muppet masters.

Any of you could have got into the Sorros trade , just by reading charts.You should know your opponents as well as your self , and how to defeat the opponent with intelligence.

I'm very tired of this... if you want to carry on with your Walter Mitty existence then that is your prerogative, but I wanted to stop you from spreading miseducation.

I keep telling you my opponents are rarely sapient beings so it's hard to know them well since their entry and exit conditions are, collectively, a few thousand lines of constantly adapted python code on top of C++ core libraries. The hedge fund you flashed in my face earlier is a prime example of this and has nothing to do with the way you trade whatsoever - go to their website and check out their job opportunities, see anything for a 'trader?' FX is a dying industry for non tech savvy human beings and has been for a number of years now. When pit traders were all but removed from the game, who became the least technically capable participants in the markets... us. Edges do exist for manual traders, but they are difficult to quantify and if you want to stake your future on something that can barely be quantified, that is brave to say the least. I've recommended that you learn to code and put your entry and exit criteria into 5 years of (bar magnified, not OHLC) data and see how you come out. You can even do this manually, bar by bar, if you have the patience and don't kid yourself about no slippage. But this is much too much like work for most retail traders. The lack of general availability of something much easier to start with in the UK, like the Emini, makes forex more popular for T2W retail traders than it deserves to be.

Please get some work experience at an IB and see for yourself. If they let you leave the 'flogging ETFs to a 2,000 page list of 6 figure earners desk' that is.

The reality of what people are up against is even more depressing than they know, they're generally heavily heavily outclassed. Throw in some round turn commission or a BS IG spread and it's hellishly difficult.

 

[15 min tlb]

I'm very tired of this... if you want to carry on with your Walter Mitty existence then that is your prerogative, but I wanted to stop you from spreading miseducation.

I keep telling you my opponents are rarely sapient beings so it's hard to know them well since their entry and exit conditions are, collectively, a few thousand lines of constantly adapted python code on top of C++ core libraries. The hedge fund you flashed in my face earlier is a prime example of this and has nothing to do with the way you trade whatsoever - go to their website and check out their job opportunities, see anything for a 'trader?' FX is a dying industry for non tech savvy human beings and has been for a number of years now. When pit traders were all but removed from the game, who became the least technically capable participants in the markets... us. Edges do exist for manual traders, but they are difficult to quantify and if you want to stake your future on something that can barely be quantified, that is brave to say the least. I've recommended that you learn to code and put your entry and exit criteria into 5 years of (bar magnified, not OHLC) data and see how you come out. You can even do this manually, bar by bar, if you have the patience and don't kid yourself about no slippage. But this is much too much like work for most retail traders. The lack of general availability of something much easier to start with in the UK, like the Emini, makes forex more popular for T2W retail traders than it deserves to be.

Please get some work experience at an IB and see for yourself. If they let you leave the 'flogging ETFs to a 2,000 page list of 6 figure earners desk' that is.

The reality of what people are up against is even more depressing than they know, they're generally heavily heavily outclassed. Throw in some round turn commission or a BS IG spread and it's hellishly difficult.

Currency Markets don't work on codes written by LTCM or the likes , no lines of codes can outperform a visual art , not as well as the human brain can visualize .There are no code able set patterns which repeat themselves to the precision of the human eye.

Adapting to market conditions requires advance knowledge of all forthcoming news releases , liquidity and human behavior.A load of ******** can be programmed.

 

[random12345]

Currency Markets don't work on codes written by LTCM or the likes , no lines of codes can outperform a visual art , not as well as the human brain can visualize .There are no code able set patterns which repeat themselves to the precision of the human eye.

Adapting to market conditions requires advance knowledge of all forthcoming news releases , liquidity and human behavior.A load of ******** can be programmed.

So you're truly saying the banks have it wrong in getting rid of almost the majority of their fx trader workforce? That JPM can replace Athena with you? Why don't you apply?

Do you understand how unbelievably powerful a fractal breakout and a parabolic adaptive exit are when you pay barely noticeable commission and have <1ms latency to an exchange? If you get to the stage where you can model these things, you will cry. They catch the very bottom and very top of moves on a tick by tick chart, and you think your human eye 'precision' is superior to this!?!? Arghghgh. It's a bit like saying a dart's player has superior mental arithmetic to a core i7 because he's quick at adding up a 3 dart exit. Algorithmic trading now has near total control over both small and big moves, hence the flash crash... something we knew was a possibility years before because of the accumulation of positions built up during breakouts irrespective of key areas and floors or 200 ema bounces that humans would respect. When people have found a method they think works, they tend to be ignorant of the merits of all others. It's a strange human ego thing. Like how you mock Al Brooks, which is entirely unfair given the gulf in skill. I don't trade like him, but he knows how this game works judging from his works - the underlying reasons he gives for market movement are correct. You shouldn't for a minute believe your own press.

 

[15 min tlb]

So you're truly saying the banks have it wrong in getting rid of almost the majority of their fx trader workforce? That JPM can replace Athena with you? Why don't you apply?

Do you understand how unbelievably powerful a fractal breakout and a parabolic adaptive exit are when you pay barely noticeable commission and have <1ms latency to an exchange? If you get to the stage where you can model these things, you will cry. They catch the very bottom and very top of moves on a tick by tick chart, and you think your human eye 'precision' is superior to this!?!? Arghghgh. It's a bit like saying a dart's player has superior mental arithmetic to a core i7 because he's quick at adding up a 3 dart exit. Algorithmic trading now has near total control over both small and big moves, hence the flash crash... something we knew was a possibility years before because of the accumulation of positions built up during breakouts irrespective of key areas and floors or 200 ema bounces that humans would respect. When people have found a method they think works, they tend to be ignorant of the merits of all others. It's a strange human ego thing. Like how you mock Al Brooks, which is entirely unfair given the gulf in skill. I don't trade like him, but he knows how this game works judging from his works - the underlying reasons he gives for market movement are correct. You shouldn't for a minute believe your own press.

Successful traders don't play the game everybody knows , there is no edge in playing such games.Casino play their edge with punters , successful traders have their own edges ,if they divulge their edge ...it would not remain an edge.The game is played in the mind of the successful trader ,he creates the game in the mind ,one that he plays only when he sees the edge.

Al Brooks sells education from his site for $200 , an internet marketeer or a member of the 95 % of losers , did he need the money from books and courses to pay for any losses from trading?The only evidence we have , is he makes money from writing books and selling courses .....just like all the professional traders.

 

[random12345]

Successful traders don't play the game everybody knows , there is no edge in playing such games.Casino play their edge with punters , successful traders have their own edges ,if they divulge their edge ...it would not remain an edge.The game is played in the mind of the successful trader ,he creates the game in the mind ,one that he plays only when he sees the edge.

Al Brooks sells education from his site for $200 , an internet marketeer or a member of the 95 % of losers , did he need the money from books and courses to pay for any losses from trading?The only evidence we have , is he makes money from writing books and selling courses .....just like all the professional traders.

What nonsense you speak. Anyone who references major current or former institutional players as examples of compounding individual traders clearly has no idea what goes on in the 'mind of the successful trader' since you don't know of any. Bloody hell, Alex Hope would have been a better reference.

Mike @ BMT says his live calls aren't bad... his credibility =>>>>>>>> yours and mine.

 

[15 min tlb]

What nonsense you speak. Anyone who references major current or former institutional players as examples of compounding individual traders clearly has no idea what goes on in the 'mind of the successful trader' since you don't know of any. Bloody hell, Alex Hope would have been a better reference.

Mike @ BMT says his live calls aren't bad... his credibility =>>>>>>>> yours and mine.

Credibility of people who don't trade ?The credibility of tooth and picks sellers in the trading gold rush , all working together to market something useless to new traders?

 

[the hare]

Al Brooks sells education from his site for $200 , an internet marketeer or a member of the 95 % of losers , did he need the money from books and courses to pay for any losses from trading?The only evidence we have , is he makes money from writing books and selling courses .....just like all the professional traders.

That Al Brooks book is heavy going, you'd think for 200 bucks he could have put in a few commas and full stops !

 

[Trader333]

The game is played in the mind of the successful trader ,he creates the game in the mind ,one that he plays only when he sees the edge.

Well in my view it doesn't matter what you create in the mind until you have to convert it into the reality of trading. If you are able to demonstrate here your edge in terms of results then a lot of the doubt being expressed will disappear. So are you going to do this and if so how ?

 

[random12345]

Credibility of people who don't trade ?The credibility of tooth and picks sellers in the trading gold rush , all working together to market something useless to new traders?

I think our little heart to heart is probably becoming boring to everyone else. But. Take a deep breath. Look around you. Look at yourself. We were all at the stage where we thought big and hoped big, but weren't big, though it was appealing to act as if we were. Realise you are not a professional trader and are rather a penny trader with a spread bet account and big hopes for the future. I would be very happy for you if you attained the success you desire.

I would assert that Al Brooks selling seemingly comprehensive literature is less harmful than the sh*t you and others repeat about 'professionals' which is all a sad internet distillation of Trading in the Zone and various urban myths. This sleazy little industry is full of absolute clowns, liars, braggards, cheats etc and they make up the bulk. This is not an open casino where anyone can win big, it's table stakes and you are up against firms with 20 years of online development time and hundreds of thousands of research manhours using the best and brightest in their field. You also deal with a retail opposition obsessed with tiny samples of extremely successful traders, meaning they misdirect their focus on intangibles rather than on the hard mathematical graft and screentime required to make it -- most of the traders I worked with were lucky to pull down 350k a year pre 2008 and most of that was LTIP proceeds rather than direct bonus. A very senior trader at Legg Mason made no more than 4.5 mill in 2007. I have already stated the Institutional preference, profit wise, for selling derivatives over trading the markets directly, because they draw down on the latter and rarely on the former since a lot of the exposure is client side. Sub prime aside, they are incredibly lucrative and need only outperform T bonds with the gain grossed up for capital gains tax @ 15% per brokerage account. You however are arguing that they would be better to focus on the markets alone since it's all in the patterns......... do you not question your logic?

I have debunked your sayings and references on this thread with minimal effort and provided you with places to go where you can hear it from the horse's mouth if you don't want to listen to me. My genuine advice would be to give up with forex for now and get a futures account with CME access so you can trade the emini direct. It is considerably easier than your current path for putting some monthly capital together. Forex is a very forward thinking game - I think of all my profits from Forex in 6-monthly lumps, I would not want to support myself month to month with any less than 250k in initial since I could not guarantee I would not require that capital to live on for at least 1 month in six.

So there.

 

[random12345]

Well in my view it doesn't matter what you create in the mind until you have to convert it into the reality of trading. If you are able to demonstrate here your edge in terms of results then a lot of the doubt being expressed will disappear. So are you going to do this and if so how ?

Trader - I don't get this whole live call thread dismissing the doubters thing... esp on forex, it would not remove my doubt whatsoever and a standard winning percentage of <35-40% would make it tedious to say the least. I'm sure you know that winning results with weekly positive pips can be achieved for as much as a year without actually being a long term winning system that will buy you a house in forex - renko adaptive is the auto trade rage this past 12 months and has produced a profit month by month, but would have utterly failed in 2011.... there's no way anyone will do a 3 year live call thread surely?

Unless you mean a daily profit, but I don't think the OP does.

 

[15 min tlb]

Well in my view it doesn't matter what you create in the mind until you have to convert it into the reality of trading. If you are able to demonstrate here your edge in terms of results then a lot of the doubt being expressed will disappear. So are you going to do this and if so how ?

Look at the box breakout scalping thread , there is no fixed method .The box thing is joke , the method relies on reading the charts based on many factors related to context , it includes support and resistance , trend lines , supply demand trends etc .It has shown regular profits ,with small losses or losing weeks ,but more winning weeks and overall profitable trading .I don't have time to post all my trades here in advance , if posted the results would be a lot better.The point is ,it is easy to make 100 pips a week consistently with very low drawdowns of less than 200 pips.

Only two weeks were losers ,there was good reason for that , one week was for Christmas social disruptions and last week I was busier trading and not able to call.If I could just be posting only , I could show you how it is done.

I may show you my real accounts at some stage in the future ,this is all going on in a £100k account , but will unable to call most trades , due to time constraints and speeds of price movements.Friday I had a beautiful trade of 23 pips with 2 minutes ,there is no time to call these.

http://www.trade2win.com/boards/forex/162600-box-breakout-pro-scalping-115.html#post2062532

 

[15 min tlb]

That Al Brooks book is heavy going, you'd think for 200 bucks he could have put in a few commas and full stops !

Trading is very simple , successful trading can be laid out in two pages , it does not require 3 novels and 50 videos for money making.

The Bob Volman book shows you how a book should be , but it is done without a high probability method.