How I made £1m from the £4trn FX market 30 mins a day from the comfort of my bedroom

[random12345]

Please tell me what are you doing here - and as far as trading - how many live trading contest have you won then ??

Comedy gold.

I have not problem with you visiting my blog - then you can make some calls for us - but not those stupid investment calls that take a few weeks to make RR's of 3 - when intraday you can do it in 30 minutes.

I have a massive problem with visiting your blog, hence I only did it once since leaving when Shakone posted and instantly regretted it. I have never made an investment call and never hold overnight.

Come on Random - if you are honest - you will admit that you must be glad to have left the Institution - its a good name for it ;-)

I prefer to work for myself, though I have missed it at times... their CV sifting is very aggressive and it tends to avoid a certain type being there...

Now you are a Retail trader - you only have to follow price now - and not have to be a weather forecaster trying to guess the next month or so ;-)

No idea what this means. Most institutional prop trading is quantitative. Your exposure to the 'industry' seems to be reading the fxstreet headlines about banks circulars to clients. If you think that is how the banks trade their own assets then you're sadly ignorant.

Enjoy your comments - but come and prove you are as good as you talk

You mean prove my algorithms are as 'good as I talk' - how would I do that? Ah wait... I posted a statement... where is yours?

 

[random12345]

ONe other thing,
the "we all bit?" is that the elite group or what? can anyone join or is it restricted to those who know what the are doing? How does one qualify?

We being those who out obvious ignorance, lies, and other techniques used by the strange and/or the crooked. T2W has an extremely loose policy as to whether to close down a thread based on constant inconsistencies because no traffic is bad traffic. I don't blame them because you could basically incinerate the entire of Forexfactory's library and lose nothing of worth, but they hold respect among the retail clientèle and generate huge traffic.

 

[cablemonster]

I have a friend in the Midlands who is a Neuro Surgeon at both a BUPA and NHS hospital.

He played with trading and said 5 years plus and he thought he would be OK - otherwise he was sticking with being a Brain Surgeon - as he felt it was easier and not so stressful - ;-)))

Regards

F

No - I dont know any rocket scientists ;-)

I have highlighted the obvious mistake.

only jesting. LMTO (laughed my tampon out)

 

[Forexmospherian]

Comedy gold.



I have a massive problem with visiting your blog, hence I only did it once since leaving when Shakone posted and instantly regretted it. I have never made an investment call and never hold overnight.



I prefer to work for myself, though I have missed it at times... their CV sifting is very aggressive and it tends to avoid a certain type being there...



No idea what this means. Most institutional prop trading is quantitative. Your exposure to the 'industry' seems to be reading the fxstreet headlines about banks circulars to clients. If you think that is how the banks trade their own assets then you're sadly ignorant.



You mean prove my algorithms are as 'good as I talk' - how would I do that? Ah wait... I posted a statement... where is yours?

LOL Random

Comedy Gold ;-)

What - you with a $250++ million demo account playing with your algorithms - is that the statement you posted ;-))

I suppose you algorithms are from a $50 mill Bank supercomputer ? Even then they are still probably rubbish because as you know multi millions have been lost with algo's and not just the ones produced by semi sophisticated systems set up by Hedge funds etc etc.

Unfortunately - you are still relating to the Institutional trading world - not the retail trading world you are now in. That means you cannot read price at the "coalface"

Unless you do have $250+ million you are not going to move any of the market - just like the rest of us - and therefore as a retailer you are no longer a market maker ( if you were ever one) and now have to follow - just like the rest of us ;-))

That's a different ball game and that's even why even PTJ ( as you call him) would be no expert trading intraday forex on less than $100k.

Do you think he has honestly spent 10k + hrs watching a live EU or GU chart on the small frames in the last 5 years ?? - and if he hasn't he cannot be called a forex intraday retail expert - I reckon he would have a job to hack it ;-))

Now don't get too wound up - I have not even started yet

Even commercial guys who have been trading over 2 decades pre 2008 - are now lost - its moved on - and only recent performances over the last 2 years can really count

Many commercial traders who were cloned by Banks have been pushed as HFT took over - accountants proved to the banks the old ways were just old hat and with HFT - less capital - less risk and mega returns - until all and sundry join in ;-)

I probably don't think this is the correct thread to explain all the differences between commercial and retail forex trading - and so that needs to be done elsewhere

You maybe would like to sing the praises of tech guys and algo's etc etc and I have got to admit - I would be delighted with a 50% annual return on my own $100 mill account - but on the average retailer trading account ( probably under $5k ) then 50% per annum is kid's pimple stuff.

So now I know you cannot read price on the EU or AU or any key forex pair - that means you only think you can make 10 or 15% a day using above 5% risk ?

The maths jibe you had a go at me on your earlier blog can also be pushed straight back in your face as well as all the other minor jibes that 17 yr old skateboarder may type.

ie the US as a population of over 320 million people -- ie many .

But the US population is only 5% of the world population - yes - so now it cannot be many according to your definition ;-)

London close - OK nowadays many go with 4pm UK time - but in my world it not really 3.30 or 4 pm it's 5 pm when the stock market closes - but then my retail world is not your commercial world.

My retail Forex lingo is completely different to the commercial jargon you have been used too.

Good luck with the algo's and tell me are you now a Fund Manager ?- or trading your own money ?

i invite you Random - to open a new thread saying why Bank or ex Bank commercial traders are the "bees knees" and why you think your trading ways are superior and more efficient on sharpe ratios or similar - and then I can with of course - all due respect - just blow you out the water ;-)

PS forgot - you won't want to do that !! - it might make T2W extra traffic and of course you just hate any retail traders sites - don't you ;-))

Great to exchange Banter with you - you are quite intelligent - but your head is up your a...... - or similar

Regards

F

 

[random12345]

I've had a few glasses of JW Black and just got back so let's see now...

What - you with a $250++ million demo account playing with your algorithms - is that the statement you posted ;-))

LMAX don't give monthly statements for demo accounts and they sure as hell don't charge commission at a bespoke demo rate either - now where is yours?

I suppose you algorithms are from a $50 mill Bank supercomputer ? Even then they are still probably rubbish because as you know multi millions have been lost with algo's and not just the ones produced by semi sophisticated systems set up by Hedge funds etc etc.

Are you referring to Knight Capital? You rarely give any kind of tangible examples and it's clear from the rest of your paragraph that you're just making up generalisations based on articles you sort of maybe read somewhere. Once.

Unfortunately - you are still relating to the Institutional trading world - not the retail trading world you are now in. That means you cannot read price at the "coalface"

There are few tangible differences for me. LMAX is an interbank platform with complete FIX compatibility, the only major downside is the lack of co-location latency. There is no alternative OTC market and consolidated feeds at PBs are far from complete. Asian sovereigns for example do not appear.

Unless you do have $250+ million you are not going to move any of the market - just like the rest of us - and therefore as a retailer you are no longer a market maker ( if you were ever one) and now have to follow - just like the rest of us ;-))

Why would I want to move the market as a retailer or institutionally? Institutions try and clip orders so they they have a minimal market footprint.

Your definition of a market maker is wrong as it seems to be based on the idea that they move markets rather than quote prices. Market makers profit from the mark-up/turn rate. Expert indeed.

That's a different ball game and that's even why even PTJ ( as you call him) would be no expert trading intraday forex on less than $100k.

It's embarrassing when you call yourself an expert.

Do you think he has honestly spent 10k + hrs watching a live EU or GU chart on the small frames in the last 5 years ?? - and if he hasn't he cannot be called a forex intraday retail expert - I reckon he would have a job to hack it ;-))

Of course not... he uses his time much more wisely hence his position. What you have 'done' by way of screen time is not impressive nor productive if you're still living in some sh!thole in the W Midlands per your vid. You could have done day labouring shifts instead and then at least you'd be in shape.

Now don't get too wound up - I have not even started yet

Your existence on this website is offensive to anyone who makes a living from markets, hence you wind me up.

Even commercial guys who have been trading over 2 decades pre 2008 - are now lost - its moved on - and only recent performances over the last 2 years can really count

Saying something doesn't make it true. At your age, surely you have learned this...?

Many commercial traders who were cloned by Banks have been pushed as HFT took over - accountants proved to the banks the old ways were just old hat and with HFT - less capital - less risk and mega returns - until all and sundry join in ;-)

Quant trading took over prop volume almost 15 years ago in fact. There are no accountants involved with HFTs - modern day HFTs were primarily conceived and developed by Russian physicists/comp scis and various other imports at Renaissance, even Taleb documents this and I'm sure you've read Fooled by Randomness. FCAs and CTAs do not generally work at banks except the odd one in the board room and risk. Electronic trading has caused a massive structural decline in the 'free' profits of investment banks as I'm sure you know being an expert - this is because most turnover was previously generated by client commissions on agency trading and no longer is thanks to electronic markets driving down product prices. They were forced to turn to fixed income products in order to replicate the money they were previously making. Like MBS'....

I probably don't think this is the correct thread to explain all the differences between commercial and retail forex trading - and so that needs to be done elsewhere

You don't know the differences.

You maybe would like to sing the praises of tech guys and algo's etc etc and I have got to admit - I would be delighted with a 50% annual return on my own $100 mill account - but on the average retailer trading account ( probably under $5k ) then 50% per annum is kid's pimple stuff.

You're so special (alternative definition).

So now I know you cannot read price on the EU or AU or any key forex pair - that means you only think you can make 10 or 15% a day using above 5% risk ?

Where's your statement?

The maths jibe you had a go at me on your earlier blog can also be pushed straight back in your face as well as all the other minor jibes that 17 yr old skateboarder may type.

ie the US as a population of over 320 million people -- ie many .

But the US population is only 5% of the world population - yes - so now it cannot be many according to your definition ;-)

Very good example, robust even, but how many traders is many then from your former example? Are they your friends too?

London close - OK nowadays many go with 4pm UK time - but in my world it not really 3.30 or 4 pm it's 5 pm when the stock market closes - but then my retail world is not your commercial world.

Utter numpty. You STILL got it wrong. Main orderbook session ends on the closing auction (hence the term ... close) at 16:30 and has done for many many years. Why can't you use google...? Your retail world isn't any world except your own. That is incredible.

My retail Forex lingo is completely different to the commercial jargon you have been used too.

Different/wrong....

Good luck with the algo's and tell me are you now a Fund Manager ?- or trading your own money ?

Trading wise, I trade my own money and am also a general partner of an LP fund in New York. Though I don't know Richard Branson.

i invite you Random - to open a new thread saying why Bank or ex Bank commercial traders are the "bees knees" and why you think your trading ways are superior and more efficient on sharpe ratios or similar - and then I can with of course - all due respect - just blow you out the water ;-)

I could just post endlessly about taking random prices that are already 3 points in the bag instead. You have never undermined a single statement of mine, let's not get excessive.

I have posted numerous times to admit that I will never directly give anyone free money or code and never pretended otherwise. I have assisted people outside of direct profit many times.

PS forgot - you won't want to do that !! - it might make T2W extra traffic and of course you just hate any retail traders sites - don't you ;-))

I won't lie, I do dislike many people who sadly abuse these boards, though have a mutual respect and friendship for those who know what they are doing or take a genuine interest in this topic.

Great to exchange Banter with you - you are quite intelligent - but your head is up your a...... - or similar

Oh the irony. As previously implied, I had agreed not to reply in your thread again and conversing with you is painful - why did you not challenge Shakone's less than subtle mocking of you, but insist on making these ignorant replies to me?

 

[random12345]

I have highlighted the obvious mistake.

only jesting. LMTO (laughed my tampon out)

CM I hope you're enjoying this exchange even though I wasn't involved in the original mocking.

I need to learn to sound insincere when I'm having a dig, that's the magic combo.

 

[Forexmospherian]

Hi Random -

In reply to some of your last comments -

It's embarrassing when you call yourself an expert.

You are reading it totally wrong - my expertise is related to making intraday short term forex trading calls in the so called retail market. I have never worked like you in a commercial institution - so how can I be an expert in a totally different world

I will admit though I am also an expert wind up merchant and you certainly stand out for requiring some of my attention ;-)

Your existence on this website is offensive to anyone who makes a living from markets, hence you wind me up.


See I told you

Saying something doesn't make it true. At your age, surely you have learned this...?

Totally agree - the only way any other retail traders can have confidence in what others are saying is when that person makes trade forecasts 1 min - 5 min - 30 mins - hours before they have actually materialised. This then shows they are good at making correct calls and therefore have the possibility with correct money management of making money in the Forex market.

Notice i say retail Forex market - I have never traded anything else in my approximate 11 years. Any video / trading statement / bank account etc etc is of no real value - they can all be falsely manufactured and may not be genuine.

Any trader might be able to make 5 or 20 calls and get over 70%+ correct - but if they can then make say a few hundred or 500+ calls and get the same success - then that shows they have some type of expertise.

I have not heard of one commercial trader who might be able to do this - but surely there will be a few somewhere who can do it - and they would get my respect.

It would be great if you could do this - you would then have earned my respect


Trading wise, I trade my own money and am also a general partner of an LP fund in New York. Though I don't know Richard Branson.

Good for you - so when you trade your own money are you still using algo's and not reading price and make trading decisions yourself like the main proportion of retail traders ?


I won't lie, I do dislike many people who sadly abuse these boards, though have a mutual respect and friendship for those who know what they are doing or take a genuine interest in this topic.

So - you are saying I do not know what I am doing then ? what a joke ;-))

Oh the irony. As previously implied, I had agreed not to reply in your thread again and conversing with you is painful - why did you not challenge Shakone's less than subtle mocking of you, but insist on making these ignorant replies to me ?

You are more entertaining and i enjoy talking to commercial traders like you

Regards

F

 

[Dinos]

As per usual you open you mouth

 

[Dinos]

Please

 

[Forexmospherian]

Not again, more claims (and not even one miniscule shread of evidence), you throw names around you grabbed out the air, say you make lives calls, yet all we have ever seen are ramblings and figures picked out of thin air. You say everything is true, yet you decline every opportunity to prove yourself, and say you expect us to believe it just because you say so.

For god sake man, grow up and stop the

I know it really irritates you guys that during the last few weeks I have made over 180 intraday calls and forecast and of course getting the majority of them correct.

During that time I have made over 1300 pips and many ( many) thousands of pounds - and I just don't have to prove anything - because just going through any full day on the thread - you will see ( with the exception of the day I only made 47 pips) that I know what I am doing and make positive pips and positive returns - EVERY DAY

Initially we had the moaners saying you are not making any calls in advance - they are all after the event ( what a joke - OK some 3 min scalps don't appear quick enough) - but i have worked out there are still over 80 calls made - when they have been posted 10 mins or even 30 mins plus before the moves commence and then go on to make great pips - ( Yes OK - 17 pips profit to me is a RR over 3 - just like those twits who have 100 pip stops and make 300 pips over 4 days and think that is better - even though it is still only a RR of 3 - and there's no way you can do 10+ of those a day ;-)

No one so far as commented on why my method of trading works ( surely you can work it out ? ) but many I am sure realise - it just cannot be done unless you can read PA at the coalface and in the noise.

That's the down side - it takes years and years to perfect the skill - and as the markets are dynamic you are having to constantly evolve and adjust etc etc

Many as said I would not be here after a few weeks - ie account blown or would get that many wrong etc - i would be gone etc etc

Just shows how wrong you lot are - the T2W old cliche are just not that good in my eyes ;-)

Regards

Have a great day - i will ;-)

F

 

[Forexmospherian]

Hi Dinos

Just noticed your signature tag line - ie

Following the trend = following the money = going with the flow = barking with the big dogs.

Did you know that a trend can be any move over 3 pips and that normal trend following is a waste of time - ie it probably works a lot less than 40% of the time - but I don't believe as low as only 10% of the time - as some studies have shown

Also unless short term trends - then all other 4 hr or daily trends need large stops - ie normally over 50 pips - very inefficient and if you employ this type of strategy you will have difficulty making anything over 70% capital gains in a year - that's if you can make any profit at all.

Following any type of commercial material that's passed on into the retail market is a waste of time.

Honestly - do you think these guys will help you make money from trading ?

So unless you are a commercial trader and have control over multi millions - then you are a small retailer and to use your phraseology -

Barking up the wrong tree

What does amaze me though - is how long you have been a forum member here ?

Surely you must be profitable by now ?? - that's if you even trade ?

Have a great day - I will

Regards

F

 

[Dinos]

You are disillusioned, you haven't made a single call, all we have seen are ramblings and figures, never once have you said "ramblings made earlier earlier now an active trade" and backed up with evidence. In you warped mind you have made a live call, because you mentioned a figure some time earlier and you seem to thing that constitutes a live call. But for some reason (excuse as per usual) you have NEVER provided one shread of evidence to back up your have taken the trade, and until you do, why do you thing anyone will take one bit of notice of you

You are an amusing little individual, (sad yes, we all agree to that), all these "people" you know, all these "imaginary trades" your profess are live calls etc etc. For a guy, who claims to be in his 50's, EX MD of a Branson company etc seems to get his kicks from acting likes an immature teenager on a trading BB, who "trades" at silly money, made millions etc etc. is really sad.

WERE IS YOUR PROOF OF ANYTHING, YOU CANNOT SUPPLY EVIDENCE OF ONE SINGLE THING, BECAUSE ITS ALL IN YOUR WALTER MITTY MIND.

If your as good as your claims and everybody doubted you, take the chance to rub peoples noses in i, have the last laugh. but you can't, and l full expect some excuse back from you as to why you don't need to or wont, and we all know whey that is.

For the record, your don't irritate me, you provide a source of entertainment. and I will have a good day, I generally do, quietly and unassumingly and without the need to make a total **** of myself with all the self proclamations you feed off.

Until you show us concrete irrefutable evidence of actual trades taken, not just your thoughts, I will(as will most) regard eveything you say as

 

[hungcable]

I've had a few glasses of JW Black and just got back so let's see now...


That's the spirit.

 

[Dinos]

What does amaze me though - is how long you have been a forum member here ?
Surely you must be profitable by now ??
F

Yes I am profitable, the reason I make money is , I rarely post, I focus on trading, I've nothing to prove to myself

Carry on Bull****ting, whilst I wait for evidence of the "millions you earn", in the meantime, happy walter mittying and keep up the good bull****ting

 

[darktone]

No one so far as commented on why my method of trading works ( surely you can work it out ? )

Im no expert (I believe there are none in this business), but I think I can see how it works:-
1) Make general comments about levels/direction/time periods.
2) Call tops and bottoms in hindsight.
3) Post the positions and profits one wishes one had.
4) Draw attention to step 1 and call yourself an expert.

The only risk to the system is from folks with enough experience to call you out which would require:-
5) Blanket posting of steps 1-4.
6) Biblical length rebuttals and insults to any challenger.

The only thing I dont really get is why folks waste their time on you. But youre not the first to come through here with the above, no doubt wont be the last.
My 2c

 

[cablemonster]

CM I hope you're enjoying this exchange even though I wasn't involved in the original mocking.

I need to learn to sound insincere when I'm having a dig, that's the magic combo.

Am I enjoying the exchange - hell yes. This is awesome. This is basically what the internet was made for.

I watched one of the videos on that other thread - breathtaking!

 

[Forexmospherian]

Im no expert (I believe there are none in this business), but I think I can see how it works:-
1) Make general comments about levels/direction/time periods.
2) Call tops and bottoms in hindsight.
3) Post the positions and profits one wishes one had.
4) Draw attention to step 1 and call yourself an expert.

The only risk to the system is from folks with enough experience to call you out which would require:-
5) Blanket posting of steps 1-4.
6) Biblical length rebuttals and insults to any challenger.

The only thing I dont really get is why folks waste their time on you. But youre not the first to come through here with the above, no doubt wont be the last.
My 2c

Hi Darktone

Thank you for having a go at trying to work out why my making a profit every day works and why - although not unique - is one way to actually beat the forex market.

The main - key requirements are not quite how you have explained them - as I don't think you way would end up making money from trading ;-) - but what they comprise of is as follows -


1. You need to be able to have a window of ideally 4 to 8hrs - (10hrs max) to be able to trade all of the European Session - or at least the first half of the US session.

2. It is most important to have tight stops - not in hard sense ( too risky) but based on prices you can get out of on a one click basis - ideally within 5 or 7 pips maximum away from entries.

3. You must be able to "babysit" the scalp entry - until it as at least got to a "free trade" position - or you have taken 70% of the stake off in a profit over 5 pips.

4. It is essential you multi intraday trade. Thats the important part. If you are lucky - a bit like this morning -

Two quotes today from approx 7.15am this morning - went out 5 mins or so later if i remember correctly and the other one after GU news at 9.45am

Its now 11.06 am UK time and GU at 6292 - ie and well over 70 - 80 or even 90 pips above were I told traders to scalp buy from and EU - Ok hold over 87 and price made 3613 - so lets say you exited say 10 pips lower - if your not a scalper so you are looking at 15 - 20 pips there - being very conservative.

Total on just those 2 - shall we say 80 pips being very cautious - or if you understand and can read PA - you would have made over 100 pips in last 3 hours.

Not bad for a trader who has the balls to say what he will be doing it type on a blog everyday - but all the old T2W traders think I am just playing - talking BS and of course have no trading skills at all

I therefore must copy a few like this one today and keep repeating until they eventually have to eat their words ;-))

What a laugh - it is funny

Then you might only have to make 2 or 3 trades and within a few hours you have hit your target.

However if you have say 3 bad calls on the run - or lets say 5 bad scalps - ( no way do you allow price to get against you the full 5 pips on each of the 5 bad trades ) - then you will end up taking 10 or even 13 calls in the day to make a profit - ie

5 bad calls at average 4 pips down - minus 20 pips

8 good calls at an average 7+ pips profit = 56 pips positive

Net result on 13 calls - 36 pips

5. I am sure you have all heard of probability theory and the law of averages. They play a part in this method. Believe me - i have had days of under 8 trades and made over 200 pips - and then I have had other days whereby I have had to make 17 calls to make just over 50 pips - my normal daily target.

6. Next important part - "free trades" - ie taking approx 70% off a profitable scalp call at ideally 10 or more pips and then leaving 30% stake on with the hard stop in profit . This is the clever part of trading ;-)

With free trades you can leave and ignore if you wanted - they dont have to be "babysat" - but if you are keen on making money you might oversee hourly or at least every few hrs.

The most free trades I have had on at the same time is 5 - there is no additional risks etc - as a profit is already locked in the stop - so even if all free trades get stopped - you still make profit ;-)

7. PA and time windows - this is the bit which lets down 80% of all retail traders - it takes years of time and study to read price in the "noise" or at the "coalface".

Even then after 1000's of live trades - you will have good weeks of over 80% accuracy or win ratios and then other weeks you will struggle at 65-70% win ratio

If you have weeks under 55% on over 50 trades - then you have not met the standard - ie you are not quite there - ie you are not experienced enough - your not focused enough - or too put it simply - you don't meet the requirement or standard needed to apply this method

Go back to the drawing board and spend another 1000 live hrs watching a pair on a tick or 1 / 3 minute time frame

That's my method in a nutshell - its not simple - because trading to make money is just not simple - it's blooming difficult day in day out ;-)

See nothing to sell and quite happy to share with others - knowing only approx under 20% of all retail traders would be able to carry it out - and even then the real difficult part is maintaining the disciplines and focus every day you trade ;-)

Its just one way - it works for me because it blooming well should do after 6 yrs full time and over 13000+ live trades

Hope that helps and explains a few things to the T2W old timers etc.

Pull it apart if you can - and then join me on the thread one day for a few hours and watch it work ;-)

OK - must go an answer Dino next - he must think I make millions per year trading and I have already told everybody I hit my financial wall on my own money years ago and just cannot hack it over 22 full lots per pip - see I am human - i do have weaknesses - but luckily only a few ;-))

Regards

F

 

[cablemonster]

Hi Darktone

Thank you for having a go at trying to work out why my making a profit every day works and why - although not unique - is one way to actually beat the forex market.

The main - key requirements are not quite how you have explained them - as I don't think you way would end up making money from trading ;-) - but what they comprise of is as follows -


1. You need to be able to have a window of ideally 4 to 8hrs - (10hrs max) to be able to trade all of the European Session - or at least the first half of the US session.

2. It is most important to have tight stops - not in hard sense ( too risky) but based on prices you can get out of on a one click basis - ideally within 5 or 7 pips maximum away from entries.

3. You must be able to "babysit" the scalp entry - until it as at least got to a "free trade" position - or you have taken 70% of the stake off in a profit over 5 pips.

4. It is essential you multi intraday trade. Thats the important part. If you are lucky - a bit like this morning -




Then you might only have to make 2 or 3 trades and within a few hours you have hit your target.

However if you have say 3 bad calls on the run - or lets say 5 bad scalps - ( no way do you allow price to get against you the full 5 pips on each of the 5 bad trades ) - then you will end up taking 10 or even 13 calls in the day to make a profit - ie

5 bad calls at average 4 pips down - minus 20 pips

8 good calls at an average 7+ pips profit = 56 pips positive

Net result on 13 calls - 36 pips

5. I am sure you have all heard of probability theory and the law of averages. They play a part in this method. Believe me - i have had days of under 8 trades and made over 200 pips - and then I have had other days whereby I have had to make 17 calls to make just over 50 pips - my normal daily target.

6. Next important part - "free trades" - ie taking approx 70% off a profitable scalp call at ideally 10 or more pips and then leaving 30% stake on with the hard stop in profit . This is the clever part of trading ;-)

With free trades you can leave and ignore if you wanted - they dont have to be "babysat" - but if you are keen on making money you might oversee hourly or at least every few hrs.

The most free trades I have had on at the same time is 5 - there is no additional risks etc - as a profit is already locked in the stop - so even if all free trades get stopped - you still make profit ;-)

7. PA and time windows - this is the bit which lets down 80% of all retail traders - it takes years of time and study to read price in the "noise" or at the "coalface".

Even then after 1000's of live trades - you will have good weeks of over 80% accuracy or win ratios and then other weeks you will struggle at 65-70% win ratio

If you have weeks under 55% on over 50 trades - then you have not met the standard - ie you are not quite there - ie you are not experienced enough - your not focused enough - or too put it simply - you don't meet the requirement or standard needed to apply this method

Go back to the drawing board and spend another 1000 live hrs watching a pair on a tick or 1 / 3 minute time frame

That's my method in a nutshell - its not simple - because trading to make money is just not simple - it's blooming difficult day in day out ;-)

See nothing to sell and quite happy to share with others - knowing only approx under 20% of all retail traders would be able to carry it out - and even then the real difficult part is maintaining the disciplines and focus every day you trade ;-)

Its just one way - it works for me because it blooming well should do after 6 yrs full time and over 13000+ live trades

Hope that helps and explains a few things to the T2W old timers etc.

Pull it apart if you can - and then join me on the thread one day for a few hours and watch it work ;-)

OK - must go an answer Dino next - he must think I make millions per year trading and I have already told everybody I hit my financial wall on my own money years ago and just cannot hack it over 22 full lots per pip - see I am human - i do have weaknesses - but luckily only a few ;-))

Regards

F

who do you trade through? broker or exchange? when you say 22 full lots do you mean 22 retail lots or 22 institutional lots.

 

[Forexmospherian]

who do you trade through? broker or exchange? when you say 22 full lots do you mean 22 retail lots or 22 institutional lots.

The last time I traded approx £150 per pip or approx 22 lots was nearly 4 yrs ago

Nowadays, I never trade over £100 per pip or in US lingo - approx 15/16 lots and most of my trades are from 3 to 12 lots depending on the scalp i am undertaking and the time of the session /day - hardly institutional or even small commercial level but the main group of retail traders I know and have met rarely trade over 1 or 2 lots - and most retailers are on $1 or up to $5 a pip.

So in theory a part time retail trader making 200 pips a month would be delighted with his $1000's. Full time - you either need a lot more pips - and any good full time trader should make over 400 pips a month fairly consistently - or you are on a lot larger lot sizes - depending on the size of your capital account and you stop / risk size

Regards

F

 

[Forexmospherian]

Yes I am profitable, the reason I make money is , I rarely post, I focus on trading, I've nothing to prove to myself

Carry on Bull****ting, whilst I wait for evidence of the "millions you earn", in the meantime, happy walter mittying and keep up the good bull****ting

Hi Dinos

As I have already said many times - I need a certain pressure to focus on my trading.

Large lot sizes of over £100 per pip have not worked as I hit my own financial "wall" on my own money and was unable to hack it approx 4 years ago

So nowadays at under £100 per pip - I don't have the palpitations or sweaty hands etc etc and I am in my comfort zone - but I need pressure to focus me and then at the end of the day - i can look back and why I took a trade - at what time etc etc and what my reasoning was etc etc. - via my blog thread


I only found this out about 18 months ago - and nowadays I enjoy the banter with like minded scalpers or intraday traders ( although not too many here atm - where are they hiding ? ) and sometimes I am led to pairs I am not trading and then see ways of making additional positive pips.

Retail trading full time is very lonely - yes I might have Sky News on or Bloomberg TV on at times but its great when you see a scalp opportunity and some one questions it and points out an alternative pair via network sites etc .

I am not on Twitter or Facebook or any other "troll / arguing" site - so really you are very lucky to have me in your forum ;-))

Have a great day Dino

Regards

F