SpreadDoctor
Well-known member
- Messages
- 318
- Likes
- 59
Hey traderallen, dont let these people bother you. Just post up your statement showing all the trades you made and let them eat humble pie. :smart:
How I trade forex and make a profit.
- Thread starter Traderallen
- Start date
- Watchers 27
Hey traderallen, dont let these people bother you. Just post up your statement showing all the trades you made and let them eat humble pie. :smart:
lexcorp
Senior member
- Messages
- 2,004
- Likes
- 570
Those who make such claims will never be able to back them up, for obvious reasons.
Hey Tarderallen, As new member to this forum and also a newbie to forex trading, your video “how to trade the markets for beginner” has been really helpful. I would actually like to see more videos from you to help people like us to get on with trading taking calculated risks
NVP
Guest Author
- Messages
- 37,934
- Likes
- 2,141
welcome to T2W TA ...........flag up anything you find offensive and the moderators will intervene if needed......
we are a little rough around the edges here but sadly it comes with the territory for newbies with success stories
look at forexperians recent progress .....the guys got rhino skin
N
Last edited:
tar
Legendary member
- Messages
- 10,443
- Likes
- 1,314
Yes innocent , but there's something called trading 101 , you cant keep your win rate up to 90% when your r:r is 8:1 . So if such information is passed in a trading forum without anyone replying , then we are all doomed , what kind of a trading forum that would be .
Anyway 150 trades is a very small sample for a daytrader so it is irrelevant .
Last edited:
Traderallen
Active member
- Messages
- 248
- Likes
- 41
For the sake of those aspiring traders that want to hear how someone just like them actually makes money in the market I will give this one more attempt. It's understandable that some people may not agree with what I have to say. I'm not saying they should, I am merely attempting to explain what I do that works. There may be some small part of what I do that may be able to help someone else become profitable.
As for those who wish to post personal attacks they will be ignored. As far as the moderator I'm very disappointed in you going along with personal attacks. I would think that the owners of the forum would not appreciate it either. Just because you don't understand or you get something wrong which you have. Does not mean that people are liars. I am not here to convince anyone of anything, nor am I trying to sell anyone anything. I just like to talk about trading because for me it is a passion and something I enjoy.
To clear up one misunderstanding I never said 8 to 1 risk reward ratio this was a mistake that the moderator made. He asked me what my profit ratio was. To be honest I don't have a clue what he was referring to. So I gave it my best attempt I took my total profit divided it by my total loss to come up with eight dollars made for every one dollar that was lost. Then he starts touting this as a risk reward ratio. Which it is not if you would like to know my trade plan risk reward ratio is 1 to .6 as I attempt to lock in 10 pips while only risking six in the reality of my actual trading the number is more like .7 to 1 since my initial stop is at 10 pips and my targets are often adjusted to 3 6 or 9. Although several trades make more.
I find it slightly entertaining that the numbers I post most of you think are really good because to me they are not. I often feel I believe too many pips on the table. Or missed too many trades. But there is nothing fake about my numbers and there really not spectacular. You all just don't have the big picture. And I'm not posting my account statements for my ex-wife's lawyers to find. I've managed to mold together a trade plan that month over month is making money, not millions not tens of thousands but at the end of each month I have more money in the account then I started with. Since that something that 95% or more of people trying to trade will never be able to do I would think that before you start casting stones you might read some of the things that I have written on my $25 webpage (by the way I have built that websites entirey myself and it reflects my personality if you don't like it sorry for its cheap price) you may find that one little bit of information that puts you on the path to financial freedom.
I took a few minutes to make a short video about account risk and why you should not follow plans like our fellow poster has shown above this post.
http://youtu.be/ZQ0X77BYefc
As for those who wish to post personal attacks they will be ignored. As far as the moderator I'm very disappointed in you going along with personal attacks. I would think that the owners of the forum would not appreciate it either. Just because you don't understand or you get something wrong which you have. Does not mean that people are liars. I am not here to convince anyone of anything, nor am I trying to sell anyone anything. I just like to talk about trading because for me it is a passion and something I enjoy.
To clear up one misunderstanding I never said 8 to 1 risk reward ratio this was a mistake that the moderator made. He asked me what my profit ratio was. To be honest I don't have a clue what he was referring to. So I gave it my best attempt I took my total profit divided it by my total loss to come up with eight dollars made for every one dollar that was lost. Then he starts touting this as a risk reward ratio. Which it is not if you would like to know my trade plan risk reward ratio is 1 to .6 as I attempt to lock in 10 pips while only risking six in the reality of my actual trading the number is more like .7 to 1 since my initial stop is at 10 pips and my targets are often adjusted to 3 6 or 9. Although several trades make more.
I find it slightly entertaining that the numbers I post most of you think are really good because to me they are not. I often feel I believe too many pips on the table. Or missed too many trades. But there is nothing fake about my numbers and there really not spectacular. You all just don't have the big picture. And I'm not posting my account statements for my ex-wife's lawyers to find. I've managed to mold together a trade plan that month over month is making money, not millions not tens of thousands but at the end of each month I have more money in the account then I started with. Since that something that 95% or more of people trying to trade will never be able to do I would think that before you start casting stones you might read some of the things that I have written on my $25 webpage (by the way I have built that websites entirey myself and it reflects my personality if you don't like it sorry for its cheap price) you may find that one little bit of information that puts you on the path to financial freedom.
I took a few minutes to make a short video about account risk and why you should not follow plans like our fellow poster has shown above this post.
http://youtu.be/ZQ0X77BYefc
timsk
Legendary member
- Messages
- 8,592
- Likes
- 3,318
Hi Allen,
Welcome back! I'm glad you've decided to stay and address some of the points put to you. If I have misunderstood or misinterpreted your posts - then please point out my mistake(s) and I will apologize. Rather than making a general post, it would be helpful if you could quote specific sentences so that subscribers to the thread are crystal clear about what was actually said and what is good or bad about the comments. With that thought in mind . . .
Just to be clear, I have nothing against you personally and much of what you post is absolutely fine. However, T2W does have a duty of care to protect its members, some of whom are taken in by big numbers. Slice 'n dice it any way you want Allen, a success ratio of 90% and profit ratio of 8 : 1 are at the top end of the stratosphere! I hope this helps you to understand a bit more about the way T2W works and why you've received the level of criticism that you have.
Tim.
Welcome back! I'm glad you've decided to stay and address some of the points put to you. If I have misunderstood or misinterpreted your posts - then please point out my mistake(s) and I will apologize. Rather than making a general post, it would be helpful if you could quote specific sentences so that subscribers to the thread are crystal clear about what was actually said and what is good or bad about the comments. With that thought in mind . . .
Excellent - this is what T2W exists for. We're in total agreement so far!
I suspect this refers to me? Lots of members assume that all staff are Mods - which is understandable - but not correct. I'm not a Mod and don't have Mod privileges, which is why I advised you in an earlier post to use the red flag 'Report Post' facility if you wish to make a complaint about anyone's post - mine included. The Mods will treat my posts exactly the same as any other member. If I've misunderstood something or got something wrong - please point it out to me by quoting the specific post / sentence.
Again, if the Mod reference here is to a post of mine, it would be helpful to quote it please. I've never mentioned risk : reward ratios as such, so perhaps you're referring to someone else? You are correct in saying that I asked what your profit ratio is and you replied with this post. It is very clear and explains where I and others have got the 8 : 1 profit ratio from.
Again, if this is a reference to me, I've not mentioned anything about risk : reward ratios.
I suspect this is the nub of the problem. Assuming you've read my two previous posts, then you must, surely, understand why your figures look amazing? If the calculations are incorrect, then I must have used the wrong figures to begin with. If you want to start over and supply new figures - please do so.
I have no issues with your website. I am merely concerned with what gets written here. As you may or may not know, the bulk of T2W members are new traders just starting out. Figures like yours fuel the misconception that trading is easy and that big money can be made quickly. Although you are at pains to point out in your latest video and elsewhere that this is not the case, your figures suggest otherwise. This is what's landed you in such hot water. Like I say, if you want to start afresh and supply new figures, please go ahead. If you're not familiar with the terminology that I've used, a comprehensive explanation can be found in this Sticky: Essentials Of 'Risk & Money Management' (If you don't want to read the whole thing, scroll down to the section entitled: 'SPECIFIC RISK MANAGEMENT')
Just to be clear, I have nothing against you personally and much of what you post is absolutely fine. However, T2W does have a duty of care to protect its members, some of whom are taken in by big numbers. Slice 'n dice it any way you want Allen, a success ratio of 90% and profit ratio of 8 : 1 are at the top end of the stratosphere! I hope this helps you to understand a bit more about the way T2W works and why you've received the level of criticism that you have.
Tim.
tar
Legendary member
- Messages
- 10,443
- Likes
- 1,314
It appears that many traders don't understand what's profitable trading is all about .
First of all trading samples matters , to say that i have 150 scalps with xx win rate or with xxx% capital gains doesn't prove anything , you are going to have consecutive winnings and consecutive losses as well granted . All traders on the world have winnings but that doesn't make them profitable traders . 150 trades is a very tiny sample for a daytrader , you need Ks of trades spreaded over years of different market conditions to make a meaningful conclusion on a daytrading strategy/trader .
Coin flipping systems would achieve similar results at some point , and that's why cherry-picked screen shots of p&l isn't a proof of anything , its like saying i had some winnings !
Second : Win rate alone doesn't mean you are profitable , i'm repeating myself here but it is a simple concept , win rate is not what you are after as a trader , 50% or 90% i don't care , because you still can lose big time with a 90% win rate and that's usually the case BTW . And its not something to brag about - i'm not talking about the OP - , no one cares , show me real material , CALMAR , max DD , your strategy ... etc .
First of all trading samples matters , to say that i have 150 scalps with xx win rate or with xxx% capital gains doesn't prove anything , you are going to have consecutive winnings and consecutive losses as well granted . All traders on the world have winnings but that doesn't make them profitable traders . 150 trades is a very tiny sample for a daytrader , you need Ks of trades spreaded over years of different market conditions to make a meaningful conclusion on a daytrading strategy/trader .
Coin flipping systems would achieve similar results at some point , and that's why cherry-picked screen shots of p&l isn't a proof of anything , its like saying i had some winnings !
Second : Win rate alone doesn't mean you are profitable , i'm repeating myself here but it is a simple concept , win rate is not what you are after as a trader , 50% or 90% i don't care , because you still can lose big time with a 90% win rate and that's usually the case BTW . And its not something to brag about - i'm not talking about the OP - , no one cares , show me real material , CALMAR , max DD , your strategy ... etc .
Last edited:
tar
Legendary member
- Messages
- 10,443
- Likes
- 1,314
Traderallen
Active member
- Messages
- 248
- Likes
- 41
This was my first trade of the day.I tried to make a live video but its hard to focus on the trade and record at the same time.
I took the block break long (break from the blue rectangle)
my fill was not the best (happens sometime)
first target of 3 got hit
then price started to stall at resistance so I adjust my 2nd position down to resistance level (do to overall downward sentiment on the euro I do want to give much room to the bears)
second got hit at +3
I then closed the 3rd position at resistance for +5
So the trade was not a ball park runner but its cash in the bank.
I took the block break long (break from the blue rectangle)
my fill was not the best (happens sometime)
first target of 3 got hit
then price started to stall at resistance so I adjust my 2nd position down to resistance level (do to overall downward sentiment on the euro I do want to give much room to the bears)
second got hit at +3
I then closed the 3rd position at resistance for +5
So the trade was not a ball park runner but its cash in the bank.
Attachments
ffsear
Guest Author
- Messages
- 2,304
- Likes
- 550
No offence Tar, but you keep throwing these trading cliche's at us but show no evidence of your own trading activity or evidence that you are profitable.
We've all read the same books as you have mate, but to throw another cliche at you.. "there's a difference between knowing the path, and walking the path"
DionysusToast
Legendary member
- Messages
- 5,965
- Likes
- 1,501
If you press record and forget about it. There is actually no additional effort required.
Just sayin'
DionysusToast
Legendary member
- Messages
- 5,965
- Likes
- 1,501
How about a "dance-off"?
ffsear
Guest Author
- Messages
- 2,304
- Likes
- 550
My point is, you should be more open minded with people and the way they trade. You seem to have this opinion that there is only 1 way to trade the markets, and only one way to manage risk. If that were true, the markets themselves would cease to exist.
DionysusToast
Legendary member
- Messages
- 5,965
- Likes
- 1,501
Traderallen
Active member
- Messages
- 248
- Likes
- 41
live trading video
Okay, I finally managed to videotape a live trade, this was my second trade of the day. As you'll see since the first trade is still showing on the chart second trade worked out much better. Thanks to notice is how my stop automatically adjust as price moves in my direction this is a great feature of ninja trader. This is my eighth winning trade of the month and thankfully no losers yet. My total PIP count for the month so far is 106. Hope you enjoy the video although you may want to adjust your volume down I didn't realize my microphone was picking up my coffee drinking habit. I did have to pause the video once in the middle of the trade because time was starting to run long, this should not matter you should still get the idea of how I trade.
http://youtu.be/Fp1Kv8_uPOM
Make no mistake, I am not trying to say trading is easy it takes lots and lots of hard work and focus.
Okay, I finally managed to videotape a live trade, this was my second trade of the day. As you'll see since the first trade is still showing on the chart second trade worked out much better. Thanks to notice is how my stop automatically adjust as price moves in my direction this is a great feature of ninja trader. This is my eighth winning trade of the month and thankfully no losers yet. My total PIP count for the month so far is 106. Hope you enjoy the video although you may want to adjust your volume down I didn't realize my microphone was picking up my coffee drinking habit. I did have to pause the video once in the middle of the trade because time was starting to run long, this should not matter you should still get the idea of how I trade.
http://youtu.be/Fp1Kv8_uPOM
Make no mistake, I am not trying to say trading is easy it takes lots and lots of hard work and focus.
Last edited:
