The final Holy Grail!

[Paulie_5]

pffffffffff, you really have a problem, but, with yourself!
Who told you that I came yesterday, i'm subscribed here since Dec 2006, you Dec 2007

I'm a trader since 2005 and experience of 5 years and you're comparing yourself with me

The day you make 10% of what I'm making, then come here and start talking.

I didn't say that YOU started out yesterday. I was referring to ONE (generally)

 

[Pi3141]

"I think it is extremely detrimental to any newbie reading this thread to think that this is the correct way to go about trading from the offset."

I agree with you to a large extent, however, I think if any newbie (me included) was to read this journal and genuinely believe that a holy grail method of trading had been found, then in some ways that newbie deserves to fail. That sounds harsh, but people should take everything with a big pinch of salt when they read things on forums, and for someone naiive enough to believe everything they read without thinking for themselves, that kind of person (IMHO) isnt cut out to be a trader.

 

[Hoggums]

After those last few messages from medbs I'm looking forward to the inevitable blow-up. I'm just hoping it occurs before the end of May so we can all witness it.

 

[trader_dante]

After those last few messages from medbs I'm looking forward to the inevitable blow-up. I'm just hoping it occurs before the end of May so we can all witness it.

Let us also remember the old "different strokes for different folks" rule.

The problem with most of us is we read the same cliches all the time and take them for granted. For example: make sure the R:R is excellent.

One shouldn't forget that one can make money taking a $20 profit for every $100 risked (an abysmal R:R) as long as they are right 90% of the time. see chart attached for 100 random outcomes with this R:R and win probability

Someone said in a post above that I don't use stops. That is not true. I do use fixed stops (and pretty tight ones) the majority of the time. However, after many years of doing this, I know the probabilities of most of the setups I take and on some (gap trades for example), I will use a very wide stop when I know that the odds favour the expected outcome being reached before the stop.

Probably the most valuable thing I learnt in prop trading was that what we are told we shouldn't do is just a general set of "logical" rules made by some people that couldn't make a technique work for them or couldn't apply a technique properly.

I saw people making hundreds of thousands of pounds, consistently, doing all the things we are told we shouldn't do.

Using no initial stop. Averaging a loser. Trading the news.

The list was pretty long.

Bottom line is: if it works for you, it works.

If you find it doesn't, don't be a sucker and repeat it.

 

[Black Swan]

After those last few messages from medbs I'm looking forward to the inevitable blow-up. I'm just hoping it occurs before the end of May so we can all witness it.

Why? TBH he obviously has a lot more than 'beginner's luck' to his trading edge, imo he could add stops/take a few *decent* losses anytime he wished and he'd still be v. profitable, but that wasn't the purpose of this journal...A useful phrase that springs to mind when faced with these situations...

"When the facts change, I change my mind. What do you do, sir?"

 

[medbs]

After those last few messages from medbs I'm looking forward to the inevitable blow-up. I'm just hoping it occurs before the end of May so we can all witness it.

Not even in your dreams, frustrated Legendary member.

 

[medbs]

Short USD/JPY at 94.76, waiting for closing position.

Exit USD/JPY trade at 94.45

 

[medbs]

+30 pips profit
That's all for today.

 

[meanreversion]

100 pct success rate .... well I've always maintained that success rate isn't that important, but expectancy is. HOWEVER if you're 100 pct right then expectancy doesn't matter.

I'd be interested in purchasing his system, is it for sale?

 

[c6ackp]

4 positive trades/4, making a profit of +223 pips only for Today (Monday)

Mohamed,

I'm very impressed - these results are outstanding - killer entries - do you trade full-time, or do you have a regular job also? What's your background?

 

[medbs]

Mohamed,

I'm very impressed - these results are outstanding - killer entries - do you trade full-time, or do you have a regular job also? What's your background?

Thanks Bro.
I your opinion? What can be my background?

 

[leovirgo]

I am impressed by 4/4 winners but at least 100/100 is required before labelling it as holy grail. Statistically, 100 is not even close to a good sample size but with live calls, I'd take anything above 20.

 

[meanreversion]

So cynical! Let us not doubt him, as his ego needs to be sated.

 

[leovirgo]

So cynical! Let us not doubt him, as his ego needs to be sated.

I am sure he is prepared. He could make live calls amidst all those sceptical and negative comments. That is commendable

 

[Black Swan]

+30 pips profit
That's all for today.

I'm surprised at this, today's one of those days when it's been like shooting fish in a barrel ...

 

[medbs]

I am impressed by 4/4 winners but at least 100/100 is required before labelling it as holy grail. Statistically, 100 is not even close to a good sample size but with live calls, I'd take anything above 20.

Wrong, so far 12/12.
That 4/4 just for Monday+ 1/1 today= 5/5 this week (Monday & Tuesday)
Past week: Wednesday (1/1), Thursday (3/3) & Friday (3/3)= 7/7
You can verify this by yourself, and this is a detailed statement of my last 23 trades of the last week + this week in which I made 23/23 (above 20 trades) 100%

 

[medbs]

I'm surprised at this, today's one of those days when it's been like shooting fish in a barrel ...

I couldn't follow the market very well today, i missed at least tow or three good opportunities.

 

[kraven]

Notice You don't use a SL and rarely use a target price. May I ask why?

 

[traderunner1]

Notice You don't use a SL and rarely use a target price. May I ask why?

he doesn´t have to, he has found the grail by opening up his mind and working some weeks at getting 100%

TR

 

[trader_dante]

I have nothing against medbs. If he wins all the time great. But it's worth realising that he has not discovered "the holy grail".

The holy grail in trading is a method that enables you to win unlimited amounts of money consistently.

Unfortunately you don't do achieve this by getting 100% winners.

Why? Because the true holy grail is simply maximum return at minimum risk.

Unfortunately 100% winners is neither maximum return (since margin is tied up) or minimum risk (since stops do not exist).

All it is a nice little crutch for people that can't stand the pain of being wrong from time to time.

As new_trader would say...

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