How Much I make Trading Forex

[Dylan.vts]

I have been asked a number of times by people how much I make and do I make it consistently. I am here to show you just how much I have made in the last 25 weeks on one of my accounts using the same indicators I have uploaded for you to all benefit from. As you will see in my chart I took a bit of a knock in January which I am sure most of you who are already traders would understand due to market conditions at that time, though I quickly made it back and have been a little busy over the last two months so I squeeze in a few trades when I can. I hope this can ad value to the statement I made regarding how easy it is to make 20% a month.

 

[Reds28]

What time frame do you use? Do you only use the indicators you set out in the other thread to trade with or do have other strategies, let's say, price action? What would you say you gets you the best results as far as indicators are concerned - one particular indicator, or two or more indicators lining up, before entering into a trade.

Can you elaborate on exiting trade. Is it always based on a signal from an indicator(s) or do you make use of pre-determined stops as well?

 

[EnlightenedJoe]

Since your trades are 1 hours or longer, I am surprised you said in the other thread that it was not possible for me to copy trade due to your going in and out of the market quickly. 1 hour is not very quick.

 

[Dylan.vts]

What time frame do you use? Do you only use the indicators you set out in the other thread to trade with or do have other strategies, let's say, price action? What would you say you gets you the best results as far as indicators are concerned - one particular indicator, or two or more indicators lining up, before entering into a trade.

Can you elaborate on exiting trade. Is it always based on a signal from an indicator(s) or do you make use of pre-determined stops as well?

I use the indicators that I uploaded set at what I stated they were set to, I do guage the market by getting a signal usually on CCI and, or Stochastic and confirm with the other or ADX. I judge when to get out by how quickly the indicators are moving towards aposing signals relative to the candle movement. Basically if I am in a sell and the market starts to strengthen quickly and I have only made 10pips then I would get out. If it is strengthening slowly then I can take more. I put up my training for beginners to get the ball rolling. Once you learn how to trade and use them you will quickly see when it is the right time to get out.

 

[Reds28]

I see some of your trades were at one point as much as 90 pips down, which is significant if you are trading the shorter time frames. So what stop methodology do you use? Thanks

 

[Dylan.vts]

Since your trades are 1 hours or longer, I am surprised you said in the other thread that it was not possible for me to copy trade due to your going in and out of the market quickly. 1 hour is not very quick.

Hi Joe, as you will already know we usually know when the market is going to turn though we do not usually know how long it is going to go in a given direction or how far it is going to go. Today yes the trades took some time as there wasn't much movement on GBPUSD, the account shown is also a 100:1 leveraged account so it takes a little longer to make profits. Though I stand by what I said. 45 minutes ago in 1 candle the GBPUSD had a high and low 50pips apart. Getting in minutes after I do and getting out in the same way could drastically alter your results in comparison to mine though I do recall mentioning this is not the only reason I will not provide signals. There are signal providers out there who would be happy to send them to you at a cost though I am not one of them. I deal only with training and managed accounts.

 

[Dylan.vts]

I see some of your trades were at one point as much as 90 pips down, which is significant if you are trading the shorter time frames. So what stop methodology do you use? Thanks

It all depends on what the market is doing and if there are any possible announcements due that could turn the market in a big way. I do not usually set stop losses as I am usually in and out within minutes or hours and don't tend to keep positions over night. Due to the fact that at night there is little to no movement on GBPUSD and I am back at my screen before the markets really start going I am able to monitor the positions and either try to make a combined profit with re entries or get out. 90 pips is nothing though, When dealing with forex markets it is very easy for a position to get that far into the red. As I mentioned earlier there was 1 candle that moved 50pips in less than 5minutes...

 

[EnlightenedJoe]

Well I will wait to see more of your trades to see at least one that is shorter than 1 hour. Otherwise, things just stops adding up.

 

[Dylan.vts]

Please not that this was posted as a response to those who doubted the fact that 20% a month can be made consistently. I was not going to post it as I don't need to prove that my system works though as I mentioned it was posted for those who doubted that 20% can be made consistently. Use my system or don't, I am already successful and those of you who are skeptical really don't impact my life by not using the system or criticizing it. It is here to help those who actually want to learn and better their trading abilities.

 

[Reds28]

There must be a point where a trade gets stopped out. This could either be a signal from an indicator(s) or a predetermined stop. You talk about money management with emphasis on the stop but here you seem to disregard it. Maybe your account is large and you can afford to set a wide stop but those starting out it is not something one would recommend. In my opinion, there is a point where you have to decide the trade has gone wrong and therefore you get out. You need to make your winning trades larger than the losing ones. What would you say roughly your winning percentage is?

 

[Dylan.vts]

Well I will wait to see more of your trades to see at least one that is shorter than 1 hour. Otherwise, things just stops adding up.

Joe, have you even tried the indicators yet even on a demo account? You seem to be spending a whole lot of time posting replies for someone who actually wants to trade. It appears that you have no desire to put in the effort to learn to trade asking for signals after I have explained why I will not give you them. If you have no desire to put in the effort then I have no time to help you. Use my indicators or don't I have already posted them. If it is a free ride you are looking for piggy backing off of professionals then there are ways you can do so with signal providers and account managers but please do so rather than trying to get signals from me or criticizing my posts. Thank you.

 

[Reds28]

Others may doubt you but I believe you. However, there does not seem to be a proper system in place in spite of your success. Your success might be due to letting your trades turn and you've been getting away with it. But someone on a smaller account with high leverage their luck will run out.

You seem to be using a mishmash of indicators, without settling on a rigid plan. For example, on one trade you might be using CCI or stochastic, on on another, it might be bollinger, or a combination of several. This makes for a loose and not a strict disciplinarian.

 

[Dylan.vts]

There must be a point where a trade gets stopped out. This could either be a signal from an indicator(s) or a predetermined stop. You talk about money management with emphasis on the stop but here you seem to disregard it. Maybe your account is large and you can afford to set a wide stop but those starting out it is not something one would recommend. In my opinion, there is a point where you have to decide the trade has gone wrong and therefore you get out. You need to make your winning trades larger than the losing ones. What would you say roughly your winning percentage is?

Hi Red, you are absolutely right. The way I trade and the way I teach people to trade are slightly different. Why because I have been doing it professionally for 7 years. The money management does apply to everyone though a new trader needs more solid guidelines in their startup which is why I showed a trade that took me 20minutes in on a signal and out on a signal essentially if you are in a buy and it goes up it would be a good idea to get out when you see a sell signal. That would be quite obvious though being a professional I can usually guage where the market is headed and sometimes hold over those signals. On the posted account I am at 91% success rate as I do tend to hold and re enter in a direction to profit on as many as possible, anything over 70% can be successful too. I hope this answers your question.

 

[Dylan.vts]

Others may doubt you but I believe you. However, there does not seem to be a proper system in place in spite of your success. Your success might be due to letting your trades turn and you've been getting away with it. But someone on a smaller account with high leverage their luck will run out.

Thank you Red, as I mentioned in my last reply to you I trade a little more aggressively than I teach people to trade purely for that reason. I can turn most trades into a profit due to my account size and experience, though being at 91% and the dips you can clearly see not all. That would be impossible for just about everyone I gather. Go through my training and give it a try. I am sure you will see some profitable results using it in the way I have indicated.

 

[Reds28]

Also, can you explain what you mean by the bollinger 2nd and 3rd. Bollinger is something I haven't really looked into. Thanks again

 

[Dylan.vts]

Others may doubt you but I believe you. However, there does not seem to be a proper system in place in spite of your success. Your success might be due to letting your trades turn and you've been getting away with it. But someone on a smaller account with high leverage their luck will run out.

You seem to be using a mishmash of indicators, without settling on a rigid plan. For example, on one trade you might be using CCI or stochastic, on on another, it might be bollinger, or a combination of several. This makes for a loose and not a strict disciplinarian.

Sorry I didn't read the 2nd part of your message. I teach people to stick to one or two markets and usually with limited time in a day they are only able to trade at a certain time which is why I have shown different ways of getting signals. If for example you were using the ADX only or bollinger only you would get between 10 and 1 signal a day on some markets which would not work for the guy who only has an hour after work. Having multiple indicators gives you more indication on signals most of the time and also helps confirm a signal when more than one are giving it.

 

[EnlightenedJoe]

Please not that this was posted as a response to those who doubted the fact that 20% a month can be made consistently

I don't doubt it at all. 20% doesn't seem very much. I posted on the tech analysis thread how to make 2000%+ a year. It's really quite easy.

 

[EnlightenedJoe]

Joe, have you even tried the indicators yet even on a demo account?

I don't do demo. What's wrong with a real account then ?

 

[Dylan.vts]

Also, can you explain what you mean by the bollinger 2nd and 3rd. Bollinger is something I haven't really looked into. Thanks again

When you first open a bollinger it will be set to deviation 2 and period 20. that would be your first Bollinger your second will set deviation to 3 and your third set to 4. Breaking only the 1st bollinger on 5 min candles the market usually runs with it while breaking the 2nd or 3rd on 15min candles is a signal the market is going to go the other way.

 

[Reds28]

Thank you Red, as I mentioned in my last reply to you I trade a little more aggressively than I teach people to trade purely for that reason. I can turn most trades into a profit due to my account size and experience, though being at 91% and the dips you can clearly see not all. That would be impossible for just about everyone I gather. Go through my training and give it a try. I am sure you will see some profitable results using it in the way I have indicated.

Let's use a completely hypothetical example. GBP-USD is at 1.4530 and you decide to go long. Market turns bearish and goes down 200 pips over the next several hours, at which point it consolidates but no indication that it will claw back some of the deficit on the same day. Are you at this point out of the trade because you have already had signals to stop the trade, or maybe close out at the end of the day since you say you don't hold trades overnight. I agree that some currency pairs don't move much during the Asian session e.g. GBP/USD, but there are days when they do. The Cable moved 100 pips overnight.