Be honest ............

[fibo_trader]

Why would anyone seriously making consistent money waste their time on forums ?

Giving something back
Egocentric nepotism
Education and research
Banter and friendship
Selling products and services

Anything else ?

There is one that you forgot .....................

A young trading bull named Fibo was standing at the top of the hill with his Trading/Investing teacher/professor, an old bull with vast experience. In the valley below was all of T2W in broad daylight clearly visible down to the minutest detail. Fibo is so excited that he urges the professor, "see that demo trader down there in the red dress? - let's charge down and nail her"

The professor replies, "No Fibo, this is your last lesson before graduation, let's walk down the hill and nail 'em ALL"

 

[fibo_trader]

That's a very good question and one that different price action traders will probably have a slightly different take on. The best way I can probably explain my 'take' would be to say that it is the relationship between buyers and sellers as visually represented on a chart and most easily seen via the relationship between price highs and lows. Some, including myself, will also call this market structure. I guess the basis for it is found in Dow Theory; a much under-rated subject that most traders probably read about when they first start out but then completely miss the importance of when they start to develop their price reading skills. A true price action trader will be one who can look at a chart, build a story and then with near perfect accuracy say where price should go next.

Even Moses who parted the Sea with God's help, cannot do that. But at Trading forums, everybody can. An anomaly? Go figure.

 

[barjon]

Maybe It’s coloured by the fact that in nearly forty years I’ve not been able to master that skill to anything remotely approaching “near perfect accuracy” but I think that all price action merely opens up potential trading opportunities with managing the trade you take associated with your money management being the much more important element.

Last week, for about the 10,000th time I let a loss run on for far longer than I should have done and wiped out the profit from the four previous trades in one swoop. Even allowing for the occasions when price kindly (luckily) came back in my direction to rescue me I would be quids in had I improved my exit judgement and the discipline to exercise it.

10,001

 

[ssam]

My last post in my thread will answer your question, I am trading a dummy account of £400k plus... trading 1 lots , 0.7 lots and 0.5 lots. Have a look, print off my results and see.
I trade the 4hour, 12 hour and daily. Dropping to the 1hour for entry. Trading with 4;1 leverage on the demo I believe... (my live account set 2:1)

These are my monthly ‘earnings’ which I would probably earn more in interest on half a mill than just the amount of profit I made trading it.

Move the decimal point around if I were trading off a £5k account... I earn more in a day then I would on the basis of my trading strat. So I would either need to catch market bottoms and tops, ride the 3rd into the sun set with Fibos 2 gun rig or have a bigger boat!!

 

[NVP]

Hi ssam .....with the greatest respect ...demo is not live trading .....you have to try it live even on micro money and then come back with results ........funny things happen when a broker uses your money for real ...trust me

N

 

[ssam]

Hi ssam .....with the greatest respect ...demo is not live trading .....you have to try it live even on micro money and then come back with results ........funny things happen when a broker uses your money for real ...trust me

N

Exactly my point N - I have realised even trading a £500k dummy account I earn more pro-rata per day than I would trading this sum of cash. So without ramping the lev, the cash or catching perfect tops and bottoms which is impossible. Trading live with small cash isn’t worth my time!

 

[ssam]

Hi ssam .....with the greatest respect ...demo is not live trading .....you have to try it live even on micro money and then come back with results ........funny things happen when a broker uses your money for real ...trust me

N

This part of my journey is building a strat which makes me more right than I am wrong, but with a rule of 1.5/1 r2r as a minimum target. Which is a lot my of a challenge than I anticipated.

 

[fibo_trader]

Of course NVP is spot on about Demo trading ............... but Duke will find his own way. These things take time. All traders have stuff to sort out.

Wishing all traders here great luck in trading

 

[fibo_trader]

I think you can make money anyway. Another thing is that trading requires detailed analysis and I also don’t believe that 30 minutes per day will be enough for making a lot of money. Maybe people use some robots or embellish the situation a little bit. On the other hand, if you have a huge capital, you can trade with the different asses at once. It brings more money. In general, it is a good question. I didn't think about it before. I only admired the achievements of others.

Trading with different asses brings to mind these 2 eye-talian guys on a bus ..............

They sit down and engage in an animated conversation. The lady sitting behind them ignores them at first, but her attention is galvanized when she hears one of the men say the following:

"Emma come first. Den I come. Den two asses come together. I come once-a-more. Two asses, they come together again. I come again and pee twice. Then I come one lasta time."

"You foul-mouthed swine," retorted the lady indignantly. "In this country we don't talk about our sex lives in public!"

"Hey, coola down lady," said the man. "Who talkin' abouta sexa? I'm a justa tellin' my frienda how to spella 'Mississippi'."

 

[Sirio1]

Evening all , I see lots of chat about how the newbies should trade but never much in the way of content regards profit.

I find very few that can trade a 5 min chart in fact not found any that consistent at 5 min and make a wage. So be honest about the profits made and the real timeframes that are traded. If any guys are really making 20k + a year can I ask does it come from 4hr or 5 min. Be honest as curious to find out if it is possible or a dream sold by the fake gurus and the IML only need 10 pips a day pyramid schemes that is all over youtube followed by the demo bullshitters

Thought of the day

 

[Sirio1]

I think you can make money anyway. Another thing is that trading requires detailed analysis and I also don’t believe that 30 minutes per day will be enough for making a lot of money. Maybe people use some robots or embellish the situation a little bit. On the other hand, if you have a huge capital, you can trade with the different assets at once. It brings more money. In general, it is a good question. I didn't think about it before. I only admired the achievements of others.

Evening all , I see lots of chat about how the newbies should trade but never much in the way of content regards profit.

I find very few that can trade a 5 min chart in fact not found any that consistent at 5 min and make a wage. So be honest about the profits made and the real timeframes that are traded. If any guys are really making 20k + a year can I ask does it come from 4hr or 5 min. Be honest as curious to find out if it is possible or a dream sold by the fake gurus and the IML only need 10 pips a day pyramid schemes that is all over youtube followed by the demo bullshitters

Thought of the day

The best is to never believe what you read until you test it to see if it works. Also, you need to be able to repeat the process over and over to see if it consistent. It is too easy to make unsupported claims. The truth is that it takes time to become consistently profitable. There's no magic trick. What is useful is to test some ideas on small size and gradually increase size after you experienced it working.

 

[fibo_trader]

The best is to never believe what you read until you test it to see if it works. Also, you need to be able to repeat the process over and over to see if it consistent. It is too easy to make unsupported claims. The truth is that it takes time to become consistently profitable. There's no magic trick. What is useful is to test some ideas on small size and gradually increase size after you experienced it working.

That's deep, Man. I think I'll go down to Mexico and give it some thought.