Best Thread 55000 % in ONE month !

[JTrader]

JT, Me again. I feel like I'm stalking you as you're the only person I reply to lately!

If you are the person in the first quote below then you shouldn't be looking at 5min and 15min charts IMO. If you hesitate on a 5min chart you will miss opportunities and take bad trades. If you're cautious and low risk taking then look at the big picture of 1h/4h/daily/weekly.

You are a forex man so, an example being: EUR/GBP. Which direction is it going on the daily? So you certainly should not be selling, correct? Look how many pips you could have had today on that one for quite a small amount of risk and you wouldn't have had to even watch the screen. Look at that perfect breakout of the 8600 level. (For all of you breakout fans!)You could have posted more rubbish on here (only kidding it's not all rubbish :cheesy while watching the balance increase. There's nothing wrong with being risk averse but 5 and 15minute trading is not where you should be looking.

Now, anyone else need stalking I've got to leave this chap alone!?

Hi PM

yes it has been another good week for those patient people who know a good valid setup from a less good looking valid setup. Waiting for the good ones, sitting out the less than good ones. Like a bird of prey, timing the swoop to perfection.

To be fair to T2W, this week it has helped prevent me from making lots of bad entries, while from the sidleines i have been identifying why they are bad entries, and that waiting for the good valid signals/setups and ignoring trhe less than very good setups, is a quicker way to the rich house as opposed to cardboard city.

I feel i have developed, as i now am getting better this week at knowing which setups to leave alone, and which to bite the hand off. Generally, if significant S/R is within spitting distance ahead of my entry, i will leave it be....

As for all my posting ****e - have i or have i not put you off mercury amalgam fillings this week :?: (if so, mission accomplished. I will now sleep easier knowing that i have helped another human being :innocent: Apparnetly, over half of people don't even know they contain mercury. Dentists refer to the often as silver fillings - easier to sell "silver" fillings than "mercury" fillings i guess).

 

[JTrader]

I see charts loaded with huge opportunity on the smaller timeframes, but they require patience and concentration followed by quick decsions and actions to make a profit. Waiting for the right setup, then pouncing - quick as a cat!

At the end of the day i only need to make 20 pips on the majors per day. But make a 1/2 decent job of the plan and 5 times that should be fairly easy.

Just need to apply my concentration, full attention to the chart, make quick decisions followed by hesitation free actions......

 

[BSD]

Sounds about right J

Now the last part of the Borsellino interviews as promised which is a continuation of the last installment. Again, please excuse the question marks, somewhere from transferring these files from an old computer to a new one they decided to stage an unasked for appearance.

"Lewis Borsellino: Part II
By Marc Dup�e

n Part 1, veteran futures trader Lewis J. Borsellino answered the question, "Why have you succeeded at this game when so many others have failed?" His conversation with Marc Dup�e continues:

Marc Dup�e: How or when will you pyramid your trades while screen trading?

Lewis Borsellino: Do you mean how will I add to a position? Well, one of the things we never do is add to a loser. We never average. We'll pyramid the trade as we see different areas of support and resistance being tested and firming up and we look for consensus of all three of the indices moving in the same direction; definitely when we're trading Spoos and Nasdaq. If we get all three moving the same way, that's when we like to jump on and add to our positions.

Dup�e: I suppose that makes it a little clearer now, particularly since we've seen such bifurcation between tech and the blue chips.

Borsellino: Very difficult trading. I think from October to almost February of this year has been one of the most difficult times of trading that I've seen in a long time.

Dup�e: Really?

Borsellino: Yes, because of the disconnect. Here you are watching Nasdaq making all-time highs, and you want to buy the Spoos but they keep beating them up. Every time the Nasdaq makes a new high and you go to buy them -- the S&Ps get a little rally. Then the Dow sells off and the S&Ps sell off and you get chopped up.

Dup�e: Do you have a clerk near the Nasdaq pit?

Borsellino: Actually the Nasdaq's right in front of me. So I can see it and I can see the board. And I don't flash orders up there. If I want to place an order, I tell my clerk on the phone. He'll call the desk and put in the order for me.

Dup�e: You said you like to do low-risk trades; two to three bucks a stop.

Borsellino: Especially upstairs. Definitely upstairs.

Dup�e: Is that what you use as a stop loss rule?

Borsellino: My stop loss rule is, whatever your stop loss is, I want it 2 1/2 to 1. If I'm willing to risk $2 on a trade, than I have to make $4 1/2 in profit, it's a 2 1/2 to 1 ratio. For every dollar I risk, I want to make 2 1/2.

Dup�e: And will an upper channel be what you'll be looking for to determine what that upside potential will be?

Borsellino: Exactly.

Dup�e: How do you keep yourself balanced when you�re on a run?

Borsellino: (Laughs). You know what, it's just 19 years. In 1987, I made $4.4 million. In 1988, I made $90,000. Okay? So I'm the ultimate doom-and-gloom guy, and that's what I look at. You know most professional traders like to trade from the short side. Me, I've been a bull since I've walked into the pit: I love to buy them. I keep telling guys, you want this thing to crash? You remember 1988 when business dried up and brokerages laid off 30% of the people. You want a healthy market, let's keep going up. Look, I've seen up and I've seen down and I understand that you've got to stay calm. The minute you start to believe in all the accolades that they throw at you, then that's when the market's going to show you. I've seen it happen to the biggest guys. I've seen Richard Dennis take $600 million and lose 300 of it in six months. And Neiderhoffer too. (Famed trader Victor Neiderhoffer once traded for George Soros -- Ed.)

Dup�e: And these two were both trading off the floor . . .

Borsellino: Right, but I've seen guys on the floor who've had tremendous runs and then all of a sudden the next thing you know they're trying to borrow money from you.

Dup�e: So is that their egos--that they believe everybody telling them they're so great -- that had something to do with why they crashed.

Borsellino: I think that what happened is they had a temporary loss. They're very good traders, both of them. But what I think happened is they had a temporary loss of discipline. And they had too much pressure on them to perform from their customers. And when that happens, your plan and your logic sometimes get thrown out the window. I see it with my new traders. The worst thing that can happen for my new trader is he comes in and his first five trades are all winners. And I got a cocky kid on my hand and the next thing I know, he's in my office the next day telling me he lost everything that he made in five days plus double that. And, you know, he's got my foot up his ass and me telling him, all right, now you don't have a job anymore. It's because I preach that to them. I'm unusual. When I have a bad day, or a couple bad days in a row, or I've overtraded and I've lost a lot of money, I go out and I buy something.

Dup�e: Retail therapy?

Borsellino: I go out and I buy something. Not to make myself feel good. But to remind me what a dollar is and what it gets me. To remind me that I've been fortunate to be earning the living that I have over the past 20 years, and have been fortunate to have been good at what I do.

Dup�e: In dealing with losses you've said that you view losses as loans made to somebody else in the market, to somebody else in a zero-sum game. Can you expand on that a bit and on how that view helps your trading?

Borsellino: Well, that's my psychological edge. That's that competitive nature coming out of me. When I've had a bad day. . . in futures, for every winner there's a loser. It is a zero sum game, where with stocks it's not. It definitely gets my adrenaline flowing when I've had a bad day. Especially when I've made stupid mistakes, rookie mistakes. I go home and I work out and I try to exhaust myself because I know I'm going to be up all night waiting for the market to open and the bell to ring, so I can get back in there and get my money back.

Dup�e: That's what you write about in the book, that losses are loans to somebody else. But that doesn't really calm you. You still want to go get that money back. It's a temporary loan.

Borsellino: It's a temporary loan. Hopefully! That's the way I've viewed it over the last 19 years. And that's part of my competitive nature and the idea of trading for success. I've said it a million times to people around me; it's not the money. The money has been very good and it has been a product of being good at what I do. But it is the respect and admiration of your peers it's the ability of me to be able to compete against the other person and me against the institution and me against the market. Trading has the highest highs and the lowest lows, Marc, and hopefully throughout your trading life you experience them both and there are more highs then lows and you know how to deal with them both.

Dup�e: You mentioned that back in the days when they allowed dual-trading, the system worked to your advantage because you were already handling 30-, 50-, 100- lot size and bigger and it gave you the confidence to pull the trigger on your own trades, leading you to become the biggest trader in the S&P pit at one point, transacting up to 1/4 million contracts annually with a notional value in excess of $62 billion. Could you describe what is like to be, as you say in your book, �in the market flow� or in the �zone� trading, as you describe especially when you are in the zone trading that 100-lot size?

Borsellino: It's a two-edge sword. It's like being Michael Jordan. Going out there every day and everyday people want you to score 50 points. And you've got that pressure and you've got your own pressure on yourself and the ability to do it. And guess what, when you are in the zone and you've got everything going for you, you can't do anything wrong. You can throw 50-lots and 100-lots around and you're exiting them and turning profits with them and so on. And when you're out of that zone, just like Michael Jordan, and all of a sudden you're only hitting 15% of your shots, well it�s the same thing that happens with trading.

I compare trading to professional athletes a lot. The emotional side of it and the psychological side. When everything is clicking, you can do no wrong. And then when you've had a few losing days in a row, then you're out of sync. And when you�re out of sync everything you do is wrong, even if it's a five-lot.

But the one thing that I've learned is that you can't read your own press. You don't always have to be the biggest guy; you don't always have to be the biggest trader. You have to be the most consistent trader. And yeah, to this day I'll still take a 100-lot, I'll take a 200-lot. But more on my terms and not on the terms that I'm trying to prove to somebody, "hey, I'm Lewis Borsellino, I'm the biggest trader." At 25 to 30 you're a little more cocky then when you're 43. I don't have anything to prove to anybody anymore at this point.

Dup�e: Do you think it would be possible for a trader without the dual trading pit experience to develop that kind of sense, that you have trading size and being in the zone like that?

Borsellino: Oh definitely. I've been around some young, new stock traders that have had seven figure years already.

Dup�e: The SOES guys you were working with?

Borsellino: Some SOES guys and some people that have got enough capital behind them. You've got to understand that you look at some of those Nasdaq stocks. They have more volatility and more swings and more volatility than the S&P itself. So if you jumped on Rambus (RMBS) and caught a $180 move, or if you caught Qualcomm last year, than you caught some of the opportunity that is out there. We are actually doing a lot more stock trading than we ever did.

Dup�e: Yeah, with the volatility there in some tech stocks, it makes sense.

Borsellino: Not only volatility, the trading programs that we have for commodities are working better with the equities than they are with the commodities, because of the volatility in the equities.

Dup�e: I read in an interview that you did with an European journalist, that you mentioned that your" biggest weakness stems from the fact that you�ve been successful as a trader with a propensity for making profitable trades". What does that mean?

Borsellino: I said that? My biggest weakness?

Dup�e: Yes, does that ring a bell? With an Italian journalist?

Borsellino: Oh, all right. I think what happened was when I've talked about other business decisions that I've made outside of the trading realm or even in the trading realm, I've never been the type of person to get involved in other business and so on, because of the independence that I have as a trader. The independent life that you get and the ability to say to somebody, look, I don't need your business idea, I don't need your investments, I've passed on some very good ideas that were very profitable. And it makes you sometimes too independent, and maybe sometimes closed-minded in your business decisions. One of the reasons the money management . . . here I am explaining to people why I'd be a good money manager. I've survived for 20 years guys and I still have people questioning me. Not that I'm egotistical but when I look at other money managers, I'll ask them a series of questions and I'll find out they haven't had 1/10th of the trading experience as I have. So that is where I think he quoted me from.

It's hard for me sometimes to explain why I would be good. But that is why the Web site took on the focus it did. Here it is the democratization of information and I'm finally able to open up my brain and show people what you have to do to be a successful trader. Not that I'm the best trader who ever lived, but I've lasted 20 years and this has been my formula of success. I often make the analogy to that to the golf swing. You look at all the different golfers out there and they all have different body types. And they all have different swings--except at the moment of impact, they all look the same. So there are a lot of different traders out there, different personalities, different makeups, but when you get down and you do that interview with them Marc, you'll find out they all have the same qualities when it comes to discipline, structure and so on.

Dup�e: You wrote for CNBC.com last January (2000) where you say �one thing never changes: If you want to know what the setup for the market is today, study where it�s been for the past several days or longer.� You mentioned earlier in the interview about price points and about your analysis. I'm curious how you use volatility, how you put that into your analysis, of technical support and resistance?

Borsellino: Let's say you're trading in a real volatile market, you buy the 1500s and you're willing to risk 400 points because that's what your research is telling you. Well in real volatile markets, it may go down and stop you out at 94, turn around on a dime and rally through your 1500 and go another 1000, 1500 points and here you've missed the move because you got stopped out. And what happened was because the markets are volatile and the volume that's being traded, you know, it has a bigger whipsaw. So when we see those, when we see that sort of volatility, what we'll do is we'll cut our size back and then expand our stops so that we ultimately have the same risk but we're adjusting for the volatility.

Dup�e: Or if you have a strong directional bias, you could benefit by doubling up on your order.

Borsellino: Yeah but when you're talking about volatility what will happen though is that the bounces, say you're short, the bounces will be bigger. With extreme volatility you're better off cutting the size back and expanding the stops so you don't get stopped out of the move. Normally, if you're getting a trending market, that's when you can sell 'em sell some more, sell some more and it trends very orderly to your exit point. Same thing with buying, in an upward trending market.

Dup�e: Is there a standard, or most common method of calculating pivots in the S&P pit?

Borsellino: No. Everybody does different pivots. And the terminology that they use is different. One of the good pivots that people like to use is when you got the opening range. And we've traded below the opening range and then we come back and go through the opening range. And then you have your moving averages that people use. We use a combination of a lot of different things. We use a combination of a lot of different research. I mean we use stochastics, we use Fibonacci we use Gann we use a combination of things together that I don't think other people do. And the thing about technical analysis is--think of it as being an auto mechanic. You've got your engine but they're always tweaking it to try to get it to go faster and try to run smoother and that's the same thing that we do with our technical analysis. Sometimes the bonds are the leaders and you're watching the bonds and they're going to give you an indication of what the market's doing. �Sometimes there are different underlying stocks or a group of underlying stocks that will tell you what the market is doing. So that's why we have our analyst with 25 different screens.

Dup�e: So in the S&P pit, what a lot of people look at in the pit is the opening range. What time frame is that, the first half-hour?

Borsellino: Right, no the first five minutes. I mean the first minute that the market opens up and the opening range is established. That's a big one. Old highs, old lows, intraday highs, intraday lows, those end up becoming pivots.

Dup�e: I spent a day in the S&P pit on Veterans Day last November (1999). One of the clerks pointed out that the e-mini volume was exceeding the volume of the S&Ps, and apparently that was unprecedented. How do you think electronic trading will affect open outcry or have your opinions on this subject changed since you wrote the book.

Borsellino: As the public becomes more educated in the trading of futures, I think eventually open outcry may fall by the way side, depending on how big and if the volume comes. But you have to remember what the role of the local is: he's there to provide liquidity. And until there is enough retail and institutional participation to absorb that liquidity, then the open outcry will exist.

Dup�e: If you were starting out now what would you do differently?

Borsellino: I don't think I'd do anything differently. (Laughter) I think that I may have expanded more within my field.

Dup�e: What does that mean?

Borsellino: I would have branched out and done other ventures and have been more open-minded about other things.

Dup�e: Other markets?

Borsellino: Other markets, but then I'm a firm believer that you can trade Eskimo futures, ice futures, as long as you're a trader and it moves you can trade it. But I think I would have gotten into the equities more. Like I said three years ago we started doing equities. I think I would have been into the equities more than I have, because I've always watched them. We have 65-70 stocks we watch every day, to give us an indication. And I've watched some big moves go and didn't participate in them because I was participating in the S&Ps.

Dup�e: It's hard to have your attention focused everywhere.

Borsellino: Right. But here we're watching these and we've seen some big moves made in them and that's why two years ago we started trading more equities. And we're actually getting more involved in that.

Dup�e: For someone starting off now, how would you advise them to proceed?

Borsellino: First thing, I would advise them to do is get as much education as they can about the markets. Try to get a job at an exchange or at a brokerage firm or find a reputable person who has been trading for at least a couple of years so they can align themselves with them. I'd also tell them to go to Teachtrade.com and get some very good lessons on what they're going to experience as a trader.

And I would ask them to attempt some simulated trading; it's a good idea but my experience with simulated traders is they are always eight out of ten winners. But then when they get to the real thing they are lucky if they have one out of ten. So what I do with my new guys is I make them simulate, I make them work on the floor, and I make them do all of our research. Right now we have three of our stocks guys doing all of the charting updates and so on, right now. And I make them do from three to five hours of research a night. And independently of one another, I make them give me the research on the 60 stocks and their opinion of how it has been formulated. That is what a lot of trading is, it's consensus building. I have three different analysts who work analyzing S&Ps and so on and they're not allowed to talk with one another.

Dup�e: It sounds like you bring others along with you whom you sponsor.

Borsellino: At first I brought my brother, my cousins and when I became successful I got so many relatives that found me! And I did it because they were my relatives and friends. And then about four years ago I started sponsoring people. We have four guys on the floor trading and we've got six guys up here trading. And I have another four people in training right now doing research that are wannabe traders. And then we have on staff three more people that do nothing but technical research. We have a team concept and we include the people that are doing the research in the profits with the traders. Which is good, because what I've found over the years is a lot of people who are good at research are terrible traders. They just don't know how to pull the trigger.

Dup�e: That's a good way to pool different people's talents. How or where does the average trader go wrong?

Borsellino: That's another thing about trading. There have been so many guys over the years where I've said, "This guy will definitely make it," and he doesn't make it. And there are guys I go, "This guy doesn't have a chance," and he ends up being my best trader. It all comes down to one thing. I call it the emotional side of trading. And people who are good at discipline and controlling their emotions and knowing how to pull the trigger and not worrying about the losses�you have to worry about the losses, but not becoming like a deer-in-the-headlights sort of trader after you've had some losses�and able to handle the winners without getting a big head -- those are the ones that succeed. So I never know until I throw them into the battle. You know we get them pretty well prepared, but when we throw them into the battle, that's when we see."

 

[stevespray]

No worries. The link has been pulled. Here is the "free" article in full;

10 SECRETS THEY DON'T WANT YOU TO
KNOW ABOUT SPREAD BETTING
1.
Be sure of the reason/s why you are making the decision to invest in the financial market.
Its very important to write a list of reasons for getting into the financial business of buying and selling assets, then categorise them in two ways; urgency (1 – 5) and importance (1 – 5) 1 being least and 5 being most. Then set these targets in line with your trading plan. This will keep you focused.
2.
Understand that there are different types of people who participate in the financial markets.
The market as a whole is mostly psychological, however there are three main types of roles you can play as a buyer and seller of assets; an investor who looks more at long term investments typically 6 months and beyond, a trader who looks at getting in and out of trades quickly typically several times a day. Each have advantages and disadvantages however if you intend to be a trader you are more likely to fit the Options market or gamblers Spread-Betting market.
3.
Be aware of the gamblers fallacy.
The gamblers fallacy is a very interesting concept especially if you intend to trade on a Spread-Betting platform. The story of this fallacy is that the individual believes that the chance of the price turning around gets greater as time moves on. This is not true and this is one of the main ways these gambling houses make their money, the truth is you always have a 50/50 chance at any point in time of the price going up as well as down. You need to understand this concept and it is one of the most valuable points of this paper. Cut this point out and stick it on your computer monitor.
4.
Test as many platforms as possible.
It’s important to trade using a platform that suits your temperament. The interface such as the colours and font type could greatly affect your chances of success. Other things to watch out for example: how quickly does the platform execute your trade and how easy is it to execute, can you close all your positions at once are the spreads reasonable, are your brokers respectable and fair. Don’t get hoodwinked.
5.
Specialise in one particular asset class.
Be sure to specialise in one asset class be it commodities, currencies etc. This will give you a greater chance of success; make sure you observe the differences in volatility as this will greatly decide how much profit or loss you incur over time.
6.
Know when to trade.
There are three main trading centres North America, Europe and Asia where each area overlaps in opening and closing hours, so be sure to know their open hours and changes in any daylight saving. Good times to trade are the last 30 minutes of each opening and closing. But be careful; refer to your technical analysis as well as fundamentals only for guidance before making a trade.
7.
Do not over invest.
Trading is done at your own risk, all rewards and losses are down to your own judgement,
Making Life Entertainment or our consultants hold no responsibility on your trading actions.
10 SECRETS THEY DON'T WANT YOU TO
KNOW ABOUT SPREAD BETTING
Trading is done at your own risk, all rewards and losses are down to your own judgement,
Making Life Entertainment or our consultants hold no responsibility on your trading actions.
Only invest what you can afford to lose, make sure you don’t invest any more than 10% of your account balance at any one time. If and when you double your money do not double your stakes, you will lose it. Double your initial stake when you made something like 400% on your initial balance, that way even in the worst of swings you are able to continue to trade many times over.
8.
Always take profits out off your account.
Start with one or two positions at anyone time, close it once you’re in more profit than the initial commission/spread value taken by the broker and then transfer your profits out to you personal bank account, leaving your initial balance.
9.
Know when to quit.
Remember Point 3 the gamblers fallacy, if you begin to feel uncomfortable about your position close it, in fact close it within 15 minutes regardless of profit, loss or personal gut feel. Remember the market will not wait for you neither will it come back for you. If you start with £200 and end up investing a further £800 which becomes to total of £1000, I would advise you to stop trading and learn more about the business or platform without investing real money.
10.
Staying in touch
Like everything in life, love what you do. Same applies with trading, sleep, breath and eat financial if it’s what you really want to do. However like everything else in life there is a cost that goes with it, make sure you get lots of sleep so you are focused when trading, eat well and listen to as much financial news as possible.
Paper written by: Andrew - Trader and Statistician
I know this paper will be worth more than the price you paid for it.
Play hard, work harder and donate what you can afford for the better good of keeping you well informed, for now and the future.

 

[everyonerich]

Is this thread dead already?

Nope.. now back to the main topic, beside making 55000% in One month, you also can make 100k or more within 26 min or so.. but demo only LOL... ROFL

 

[Martinigue]

heh...such things happen in the real life as well, I bet..:cheesy: Anyway, how is Magellan these days? Unwittingly he became the initiator of this thread and sent in mere one post ( I hope i am right) ... BSD seems to be close friends with him, maybe he knows more ...

Anyway, let me wish to all on this thread --- all the best in this inchoate year, and at least half the result of that stated in this thread's caption ..( which would still be more than decent, I believe)!!!

Nope.. now back to the main topic, beside making 55000% in One month, you also can make 100k or more within 26 min or so.. but demo only LOL... ROFL

 

[rogue8]

Markus, you've mentioned a number of times that short-term scalping isn't compoundable because of 'eventual liquidity issues':

Elementary maths...

The shorter time frame you trade in the higher percentage returns you can achieve...

Which is why a scalper can make hundreds or even thousands of % return per year...

Of course the caveat - for the umpteenth time - is that such returns are not endlessly compoundable, but only due to eventual liquidity reasons.

...

Does that mean orders become too large to be opened and closed rapidly and results in major slippage and messing up the Entry / Exit timings?

Is that also why you say in your 'Position Sizing & Compounding' thread:

...eventual liquidity issues will force you to start trading smaller and smaller...

So when starting out, scalping could provide the biggest returns but eventually plateau at a certain threshold. Longer-term strategies would take more time to reach that threshold but would surpass it in terms of ROA per trade (compounded)...

Reminds me of the hare and the tortoise...

 

[BSD]

Martin, as far as I'm aware Maggi is doing well.

Markus, you've mentioned a number of times that short-term scalping isn't compoundable because of 'eventual liquidity issues':



Does that mean orders become too large to be opened and closed rapidly and results in major slippage and messing up the Entry / Exit timings?

Is that also why you say in your 'Position Sizing & Compounding' thread:


So when starting out, scalping could provide the biggest returns but eventually plateau at a certain threshold. Longer-term strategies would take more time to reach that threshold but would surpass it in terms of ROA per trade (compounded)...

Reminds me of the hare and the tortoise...

Rogue, your description and your wonderful graph sum it up perfectly in a nutshell.



I think those who take it furthest are those who start out as short term scalpers who can make the mostest out of the leastest in the quickest way, but as the funds keep growing gradually evolve into longer term traders with a scalable method.

That's the key to maximising your potential I believe, allowing your trading style to evolve along with your increasing assets.

 

[elchoco]

Hola chicos,

My attempt at reverse-engineering Magellans strategy from his charts.

Let's start with what we know so far, as some things have been explored in this thread and there's also info on the german forum.

• 10 Second chart on USD-JPY,
• Average loss 1-2 pips
• Average win 3-4 pips
• win rate 80%
• Always "all-in". (whatever that might really mean)
• He closes all trades (winners and losers) manually.
• He apparently has an emergency stop loss at 20 pips
• Enters only in the direction of the prevailing trend.
• Bails immediately on first sign of trouble.
• Likes to trade with volume which means (according to the german) "News and Fridays" with "little volume on Mondays"

Now, if i'm reading his charts right we can also say that he's not averse to changing trend direction rapidly.

Also, and this is the tricky bit, I'd say that he enters on the second confirmed bar of the trend-continuation. It's dificult to be sure in some cases which are entries and which are exits.

It would be nice to be clearer on HOW he decides what the trend direction is. Maybe there's an indicator he took off the screen before the screen-shot. Perhaps a higher time frame for confirmation. Or maybe it's simply higher highs etc.

I can only presume his screen time is his local time in which case he is trading USD-JPY in the middle of the euro afternoon which would make it the US Open.

Any other missing variables before I replicate his 55,000% performance?

 

[ppark77]

hey

u mentioned in ur post that u looked at his charts.. other then his 5min and 1min charts on pg 1 and the few 10 sec charts on the link BSD gave us on pg 1 do u have any more resources other than that???

thanks,
Peter

 

[elchoco]

u mentioned in ur post that u looked at his charts.. other then his 5min and 1min charts on pg 1 and the few 10 sec charts on the link BSD gave us on pg 1 do u have any more resources other than that???

Nope, that's it. His favoured is the 10sec but "moves to 1min in slow markets".

 

[jefftheripper]

Hey elchoco, thanks for the reverse engineering of magelan's method. Let us know how it works. I may demo test it myself. It seems most of my trades start off winners, but by trying to be patient and let the trade work, I get stopped out. My natural instinct is to snatch profits and the heck with trying to catch the massive moves.

 

[travelerbrad]

That is all very true what you say Lote.

But to be fair to Magellan, he posted his real account somewhere also, and he is also several thousand percent up on that in a rather short time.

He also described his trading journey that is only 2 years young - he is a bit of a whiz kid -, he started out trading with € 3000,- lost the lot doing longer term stuff, went back to a demo account, trading that the whole day, trying out different things, and eventually it clicked for him that he is a natural born scalper, he can't hold trades for any length of time, but lots of very fast in and outs are what works for him.

That is absolutely one of the most important aspects to trading as you say, finding out waht works for you.

After his scalping was successful on a consistent basis in his demo acct it so coincided that his student grants were cancelled as he wasn't doing enough for Uni any more, so he had quite a lot of added financial anxiety to contend with, but he went ahead, put up the very last 800,- that he had saved, and within a few months was up and away, in positive territory by several thousand percent.

Btw, shall I delete the pics of his trading again, they are making this a bit hard to read, and I posted the link where you can find them in my first post anway.

Edit, now I can read perfectly again, the width is restored, anybody else OK or not OK with the pics ?

I can't open the pics. All I get are red Xs in the box.

 

[FringFX]

it's a very old thread, travelerbrad

 

[Liquid validity]

10 sec charts

The arrows are how Oanda and ABN who use their platform signals trade entries and exits.

Somehow the original screenshots have gone missing.
I've tracked them down and attached them again.

 

[Forexmospherian]

Found this link to him asking questions about colocated hosting and whether to use Esignal or other firms.

That was early 2012. Guess if he been doing up to 3000 scalps a month he would be wanting to go to the next stage - see below

http://208.234.169.12/vb/showthread.php?threadid=239274&perpage=6&pagenumber=2

Would be keen to know if he did his 55k % growth of a $100 account or even larger ?

On $100 that would mean a rise to $55k - whereas on just $10 start only $5500.

On a $1000 that would be over half a million dollars in a month - the only traders who could do that - would have to already be really wealthy and willing to lose $100k's etc to get there

Somewhere along that journey you would want to ease off the pedal and think - I am not blowing all this on 3 or 5 bad trades. With real money it would happen to me way before even reaching $100k ;-)

But then next month - I would try it again ;-)

F

 

[com37]

Found this link to him asking questions about colocated hosting and whether to use Esignal or other firms.

That was early 2012. Guess if he been doing up to 3000 scalps a month he would be wanting to go to the next stage - see below

http://208.234.169.12/vb/showthread.php?threadid=239274&perpage=6&pagenumber=2

Would be keen to know if he did his 55k % growth of a $100 account or even larger ?

On $100 that would mean a rise to $55k - whereas on just $10 start only $5500.

On a $1000 that would be over half a million dollars in a month - the only traders who could do that - would have to already be really wealthy and willing to lose $100k's etc to get there

Somewhere along that journey you would want to ease off the pedal and think - I am not blowing all this on 3 or 5 bad trades. With real money it would happen to me way before even reaching $100k ;-)

But then next month - I would try it again ;-)

F

agree with you ..

 

[imatache]

So what exactly changed that makes his trading style back then not replicable in today's market conditions?