Do you agree with this statement?

[Forexmospherian]

so, from these results i can now, review the plan and do part.

But the industry say you just cannot get this accuracy - short term Intraday trading - I mean who trades in the "noise" - plus the fact who wants to only earn 7 or 13 pips off a winning trade

Only joking - but I can see some areas we can improve you on

Very well done MM

Will check them all out

The devil is in the detail if I remember correctly

Now when you are back on the live account - acting sensibly with real money - and say you have 3 or 5 bad trades in a row - don't beat yourself up - just say - oops - refocus and then tell yourself how really good you are.

Finally please don't go back up to $40 or $50 per pip - get some more live under the belt under 1 lot first

Regards


F

 

[MajorMagnuM]

cheers, dont worry i wont be 200 a pip live just yet, but have enough confidence now to build

 

[forker]

Sorry Forker

Have to really disagree with you - and it happens to so many swing FX traders - and I have seen it at first hand

Yes - They think after say 3 or 6 months and the account as grown - the method works - so thats it - they carry on

Then after another 6 months or longer - they see another increase - although during that time - they have faith through a few bad months when they make no profit

Next year - say year 2 or 3 - they have 2 good years behind them - so they think - ie 45% increase in year 1 and 37% increase in year two

Both positive years and so they then up the anti

Remember by now they might have taken only a few hundred trades - or say if really busy 400 trades

Year 3 - and suddenly the markets change - they have 4 months of bad results

End of year 3 break even or up 15%

Still they are happy - all part of the development - and by now the account as grown well from say a few thousand to £3 or 4K

Year 4 - they lose the lot

This happens to many plodders - they think they have a winning formula - they have 100 trades under their belts - their win ratios are 50 -60% and they know basic MM

BUT

In reality they have really a 50/50 system and just a bad 6 months or 9 months even will destroy it

I think swing traders need at least 500 trades and over 3 years - seeing growth every year

Day traders expecting to do over 2 or 3 trades a week or at least 10 per week - need the 1000 trades to know if they have some "edge"

Scalpers need well over 1000 live trades - simply to test over all market conditions ideally - but then in reality without a few years under their belts - even many scalpers methods just don't have enough edge

You will not read this in books - just like you will never read my method and ways in any books or dvds or training courses

But maybe 60 -80% of swing traders will live in hope for many many years - until they develop a clear "edge" over the norm

Not just my opinion - backed up somewhere with stats etc

Regards

F

To quote statistical evidence as an argument, you need to first prove that the study is based off an acceptable sample size of traders that all use trend following strategies. you can't just throw "backed up somewhere with stats" at an argument when the control aspect of the study cannot be verified.


you also can't throw "i have seen it at first hand" because this sort of statement is your opinion and such statement types have zero value in court cases for a good reason.

you also seem to paint this picture of exactly how it goes for fx swing traders. this is a truly remarkable skill that i am sure many businesses would pay huge sums to use. it isn't every day you meet someone that is able to read crystal balls effectively. there is an inherent weakness in your archetypical representation however. a system that offers a 50 percent win rate is actually a winning formula. it doesnt take a phd to see this rather simple fact either and i am sure i don't need to highlight the obvious, or do i?

your argument of market changing is so laughable i am finding it difficult to contain myself. the markets are changing all the time. someone that has the skill to grow an account over a year is going to experience all sorts of market conditions. wild swings that come about once or twice a year as they recently have are so profitable yet you seem to think its "account breaking" - you should consider standup comedy.

you dam right you dont read this rubbish in books because books are nothing more than a product that is being sold. you wouldnt go buy a product off the shelves if it states on the box that you need to run through a process 1000 times before the product is safe to use.

the difference between consistency and failure cannot be measured by the same formula. everyone ultimately has a different formula for success. your method and teachings doesn't guarantee everyone will make money, even though you might award yourself that title. if you want to fit in more in this forum then you should drop the ego and assumptions. nobody likes a person who think he knows everything.

 

[counter_violent]

Do you agree with this statement?

Back up yer waffle or get ta fook.

 

[Forexmospherian]

Do you agree with this statement?

Back up yer waffle or get ta fook.

Hi CV

You seem to have agreed with my waffle by carrying it out trading other instruments

Have you shown your method to other members here ?

If you have - well done for helping others to learn

If not - well I will let others not quite so proficient as yourself into the secrets

First of all - excellent win ratio

In fact you cannot achieve higher than 100% - as you know and on a nice sample of over 30 trades taken over 3 days - I commend you and all it does is reiterate something I already know - and commented on in other comments - you are a good trader

My next question would be - have you still got any of the trades you took during the three days - or even previous one or two still open - ie yet to close - and maybe not in profit ?

Personally - I don't think you will have - as you are maybe a very disciplined trader - contrary to your persona as a moderator

Next point - your results prove you use time windows - and I don't think its by accident - well done - you have spent hundreds or maybe thousands of hours studying live charts etc etc

Very much part of my own philosophy for improving your trading and one I am always beating the drum about

Have you maybe ever discussed this out on the forum in more detail?

Next point

Have you moved over from FX to other products and no longer trade FX?

As you know - my own retail trading expertise is only on Forex - and I openly admit I have never traded - Gold or Silver - or even ftse / dow / etc / etc - even though many have said my own system would work on other products.

Its a shame i dont know anything about these products - as I could then waffle on for hours about them as well. What a weakness - hardly in character with my arrogance and know all attitude many seem to think I have - contrary to the masses who find me - so helpful

Finally - you multi intraday trade - although only 8 -10 trades a day

This is also so important for success and along with advanced MM - can be another reason behind success and failure.

You can develop a trading edge by finding your own sweet spot window of the number of trades you take over a full day

For you - I presume its maybe 7 -12 trades per day - although I am sure on busy days when you have the time - it might increase up to 15 +

For me its 10 -20 trades per day on average

For Major Magnum - he seems after learning my method - to go for 25 to 40 trades per day

Bit different to the 1 to 3 trades a day brigade then :cheesy:

Sorry I have waffled on

You gave me the ideal opportunity

Good Trading

Regards


F

 

[Forexmospherian]

To quote statistical evidence as an argument, you need to first prove that the study is based off an acceptable sample size of traders that all use trend following strategies. you can't just throw "backed up somewhere with stats" at an argument when the control aspect of the study cannot be verified.


you also can't throw "i have seen it at first hand" because this sort of statement is your opinion and such statement types have zero value in court cases for a good reason.

you also seem to paint this picture of exactly how it goes for fx swing traders. this is a truly remarkable skill that i am sure many businesses would pay huge sums to use. it isn't every day you meet someone that is able to read crystal balls effectively. there is an inherent weakness in your archetypical representation however. a system that offers a 50 percent win rate is actually a winning formula. it doesnt take a phd to see this rather simple fact either and i am sure i don't need to highlight the obvious, or do i?

your argument of market changing is so laughable i am finding it difficult to contain myself. the markets are changing all the time. someone that has the skill to grow an account over a year is going to experience all sorts of market conditions. wild swings that come about once or twice a year as they recently have are so profitable yet you seem to think its "account breaking" - you should consider standup comedy.

you dam right you dont read this rubbish in books because books are nothing more than a product that is being sold. you wouldnt go buy a product off the shelves if it states on the box that you need to run through a process 1000 times before the product is safe to use.

the difference between consistency and failure cannot be measured by the same formula. everyone ultimately has a different formula for success. your method and teachings doesn't guarantee everyone will make money, even though you might award yourself that title. if you want to fit in more in this forum then you should drop the ego and assumptions. nobody likes a person who think he knows everything.

Very good counter argument

I look forward to when I have the time later on today or tomorrow to completely destroying most of your points - even though there are others I do agree with you

Back later with this one

Regards


F

 

[lexcorp]

...

Have a $hit Saturday.
I know I will

 

[forker]

Very good counter argument

I look forward to when I have the time later on today or tomorrow to completely destroying most of your points - even though there are others I do agree with you

Back later with this one

Regards


F

don't bother. i am already bored with you.

 

[Forexmospherian]

To quote statistical evidence as an argument, you need to first prove that the study is based off an acceptable sample size of traders that all use trend following strategies. you can't just throw "backed up somewhere with stats" at an argument when the control aspect of the study cannot be verified.

Well I would say you have answered yourself here. When i started around 2001 - the rubbish put out them was that 20 to 30% of FX retail traders were profitable - on going. That meant the majority loss money and either gave up or lived in hope. The most popular way to trade was then swing trading - ie easier than scalp and appealed to the part time.

Nowadays - with more information available - the rubbish put out now is that 85-90% of retail traders lose money - ongoing - and therefore maybe 10% are profitable.

Maybe out of the 10 % profitable - 60% ( the majority still ) would be swing traders

So that means only 6% of all FX retail swing traders are consistently profitable on going for over 3 or 5 years.

Also I know amd had met 11 retail FX traders - 4 within my local area and the others from around the Uk. Yet again 8 out of the 11 were normal swing traders working off the 4 hr and daily charts.

Only 2 today are still actively trading

All the others gave up after continually losing money

Like wise even Hedge Funds who have had very successful 3-5 yr patches then suddenly go through a few bad years - and even go bust

Trading is simple - but its not easy - and having a way to continually take good profits out of the market is extremely difficult ongoing - especially if you try and compound .

That becomes another reason why so many fail . Ending up with losses to large for their comfort zone.


you also can't throw "i have seen it at first hand" because this sort of statement is your opinion and such statement types have zero value in court cases for a good reason.

I have seen it first hand during the last 10 years

you also seem to paint this picture of exactly how it goes for fx swing traders. this is a truly remarkable skill that i am sure many businesses would pay huge sums to use. it isn't every day you meet someone that is able to read crystal balls effectively. there is an inherent weakness in your archetypical representation however. a system that offers a 50 percent win rate is actually a winning formula. it doesnt take a phd to see this rather simple fact either and i am sure i don't need to highlight the obvious, or do i?

Yes - more industry rubbish - even 30% win ratio can be successful and 50% ongoing with correct MM can give you profits. BUT
I would be very happy with say 25% roi on say $10 million - but on $5k or $50 k - its really a waste of time and effort after all the time is taken to get to a onging profitable level

your argument of market changing is so laughable i am finding it difficult to contain myself. the markets are changing all the time. someone that has the skill to grow an account over a year is going to experience all sorts of market conditions. wild swings that come about once or twice a year as they recently have are so profitable yet you seem to think its "account breaking" - you should consider standup comedy.

WRONG
Maybe you should consider stand up comedy. Yes the markets change - but do you honestly think that someone who has negotiated just a year or twp with profits - is really there

Do me a favour mate - you are giving yourself away here - these are things newbies say


you dam right you dont read this rubbish in books because books are nothing more than a product that is being sold. you wouldnt go buy a product off the shelves if it states on the box that you need to run through a process 1000 times before the product is safe to use.

Agree - thats why they dont tell the truth

How could you sell something with a strap line saying - you are more than likely - ie over 90% going to fail - buy another book

I dont think they would sell many

the difference between consistency and failure cannot be measured by the same formula. everyone ultimately has a different formula for success. your method and teachings doesn't guarantee everyone will make money, even though you might award yourself that title. if you want to fit in more in this forum then you should drop the ego and assumptions. nobody likes a person who think he knows everything.

I agree - everyone can have different formula for success - BUT

The formula is 80 -90% + of all FX swing traders will fail

Simple enough

With regards fitting in with forum

Are you joking ?

Good Trading to you - you sound as though you will need luck - while you find out the devil in the detail etc

I wish you well though

Regards


F

 

[lexcorp]

lol

 

[forker]

Fitting

 

[counter_violent]

Fitting

He could learn so much.......if only anyone was prepared to tell him anything

 

[Mr Fox]

The thread that keeps on giving.

Good Evening @Forexmospherian,

What you post is your prerogative, and whether its nonsense or absolute sense, this has no bearing on me either way.

When you first arrived, you made claims with such pomp, and circumstance, and no evidence, and you got abuse for it, and I went against the grain, and defended your right to free posting, but I feel since your initial hazing your back is still up, and you need to forget the past, and embrace the future, as now I personally feel that you're just on a jolly wind up. Does the latter bother me one bit, not at all, however when someone gives you good advice I think you should take it with the sincerity it is given with.

Let me give you an eg., and please excuse me as I shall be paraphrasing.

Some one mentioned Grey1 being a good trader, and someone who showed proof of his trading ability, and you went on the defensive, saying you are better than him, and how you in a trade-off, you would knock him into a cocked hat. then when someone mentioned he had a phd in physics or whatever, then you conceded that he must be good.

Now correct me if I am wrong, but if someone told me a trader was good as he had a degree, or a trader was good, because he backed it up with proof. Probability to me would state I'd rather believe someone who has seen proof, rather than ones credentials, but you went about it, **** about tit.

And I'm sorry to say, you do this quite often, and I'm sure its unintentionally, or your an excellent wind up merchant. What I mean is that your personal opinions come out as absolute facts, however I'm sure you'll agree, everyone's perspective of the world is different, everyone looks at trading through different views, and the only people who are right, are the ones making money, so when you state facts about banks, hedge funds, swing traders or statistics of any sort, they are opinions, rather than absolute facts based on empirical evidence, just like your trading without empirical facts, to everyone is just an opinion.

I must concede that you have seen off quite a few people with whom you've had a verbal joust, and you gave as good as you got, and if people cant handle an argument over the internet, and throw their dummies out, and leave, well that's not your fault, that's weakness in their convictions to carry on. What entertained me the most was your battle with Random234, who lost, came back as Peter Steidelmeyer, lost again, and came back as Sigma-D, and lost yet again. I wonder what his next incarnation will be, and if a poll will be replaced with burning you at the stake on the aptly renamed "FxMo Faulkes night".

As @forker has wisely said to you... "if you want to fit in more in this forum then you should drop the ego and assumptions", personally I would take heed of this, and how about we take a step back, see what the true meaning of a forum is, and that is to help one another succeed in areas we all need help in.

Have a good weekend.

Best
John.

 

[Forexmospherian]

So you think Random 12345 - Pieter Steidelmeyer and Sigma D were the same guy then John ?

What about Purple Brain - or as I called him Pbrain?

I could see connections - but Random was top drawer - had the air of total supremacy - very clever - but only knew Industry trading and bug*er all on retail FX trading - and its chalk and cheese

What really confuse him was when I said - I dont compound - that's another road to ruin for retailers using their own money

PSteid - was just a nutter - and Sigma D was truely entertaining

I think for the same guy to be all four nics ( yes Pbrain) would take some acting - but John - I occasionally do get things wrong ;-)

 

[itspossible]

^F ,excuse me for being an ignorant bugger but when you say you dont compound what do you mean.
I am assuming that you withdraw your profits and just trade with a certain amount of capital?cheers........................

 

[Forexmospherian]

^F ,excuse me for being an ignorant bugger but when you say you dont compound what do you mean.
I am assuming that you withdraw your profits and just trade with a certain amount of capital?cheers........................

Yes - I hit my financial wall approx 5 yrs ago compounding up to approx 25 lots a pip on FX.

Nowadays I rarely trade over 10 lots and withdraw profits to use and invest elsewhere.

Regards

F

 

[Solas0077]

He is trying to discourage traders to then hand him the money to manage them. Professionals have as a bad record as traders. But the biggest fad is passive investing, worse than trading. I remember by neighbor losing more than 70% in a month during 2008, he then got scared, sold everything and left the market. I was doing short-term stocks and fx during that time and ended the year flat in 2008 thanks to my gains in EURUSD.

 

[counter_violent]

Yes - I hit my financial wall approx 5 yrs ago compounding up to approx 25 lots a pip on FX.

Nowadays I rarely trade over 10 lots and withdraw profits to use and invest elsewhere.

Regards

F

 

[Forexmospherian]

As a moderator - counter violent - are you not suppose to be sensible ?

Your comment along with a Fantasy Island picture is totally out of order

I was trading over £100 a pip on Fx pairs at GFT UK back in 2008 - ie above 17 lots and peaked at approx at £140 a pip when I no longer felt comfortable with the pressure - of wating for over 30 seconds for the order to be manually approved before it became live and finding it more difficult to trade.

This was prior to ECN's coming available to retail if you can remember.

So - it might be fantasy to you - but it was reality for me.

If you do not believe me - I suggest you have a problem - and if you say give me proof - why should I? - are you working for the HMRC ? - or are you just nosey ? do you just like winding members up ?

If you do - can I give you some lessons - free of charge of course

About time you changed your signatures / strap line or what ever you want to call them -

Spreading the madness across this suite of forums.

Those are my principles and if you don't like them, well..... I have others


They are not even funny -

 

[counter_violent]

As a moderator - counter violent - are you not suppose to be sensible ?

Your comment along with a Fantasy Island picture is totally out of order

I was trading over £100 a pip on Fx pairs at GFT UK back in 2008 - ie above 17 lots and peaked at approx at £140 a pip when I no longer felt comfortable with the pressure - of wating for over 30 seconds for the order to be manually approved before it became live and finding it more difficult to trade.

This was prior to ECN's coming available to retail if you can remember.

So - it might be fantasy to you - but it was reality for me.

If you do not believe me - I suggest you have a problem - and if you say give me proof - why should I? - are you working for the HMRC ? - or are you just nosey ? do you just like winding members up ?

If you do - can I give you some lessons - free of charge of course

About time you changed your signatures / strap line or what ever you want to call them -

Spreading the madness across this suite of forums.

Those are my principles and if you don't like them, well..... I have others


They are not even funny -

My my....someone has their panties in a twist

FWIW I have a great track record for sniffing out charlatans.

I don't know why you have such an aversion to providing proofs that would back up the waffle. Unless of course, it is all fantasy island.