How Much I make Trading Forex

[darktone]

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...

Interesting to note how these trades might have turned had you used the much recommended hard stop. No slippage considered for sake of safety blanky.

stop size = -2 (the FXMOFO special)
W = 0
L = 18
result = -36

stop size = -10
W = 2
L = 16
result = -110

stop size = -20
W = 6
L = 12
result = -54

stop size = -30
W = 10
L = 8
result = +229

stop size = -40
W = 12
L = 6
result = +441

blah blah blah

no hard stop
W = 18
L = 0
result = +1422


:whistling

 

[Dylan.vts]

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, 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.

I would change time frames on the candles and see what signals are given, If the signals indicate that the market is strong across the day and 1hr candles I would stay in it though if it was weak and I was at that level I would close and take the loss.

 

[Dylan.vts]

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

Considering your earlier statement you seemed doubtful which is why I mentioned testing the techniques on a demo so you can see with no risk that they work.

 

[Reds28]

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.

Do you mean you need to open three different charts for the three different settings? My charts allow me to set the period and a single deviation, as far as I know.

I see what you mean by when you say you have different signals as not all have time to sit in front of their computers all day. For someone who is available to trade the full London and half of New York, which would you say was the best to use. Which do you use most with best results.

I prefer using the hourly chart for entering trades but use the daily (and weekly) to gauge the overall market direction and to draw my support and resistance levels. I also look at shorter time frames (30 and 15mins) to look at price action in closer detail whilst in a trade. So bearing these in mind, which would you say was the optimal indicator/indicators to use. I hate trading on the daily because you have to give yourself bigger margin of error (time frames are relative, I know, but still I think daily requires wider stops relative to lower time frames) and potentially hold trades for days.

 

[Dylan.vts]

Interesting to note how these trades might have turned had you used the much recommended hard stop. No slippage considered for sake of safety blanky.

stop size = -2 (the FXMOFO special)
W = 0
L = 18
result = -36

stop size = -10
W = 2
L = 16
result = -110

stop size = -20
W = 6
L = 12
result = -54

stop size = -30
W = 10
L = 8
result = +229

stop size = -40
W = 12
L = 6
result = +441

blah blah blah

no hard stop
W = 18
L = 0
result = +1422


:whistling

Lol nice to see more entertainers on here too. What is your profession? I'm guessing you don't have your own company in the forex market like I do. Impressive how someone like me who doesn't know **** as you say has an account probably bigger than you could dream of with a successful business. And guess how I started, inheritance? No I was a sales rep that got damn good at trading and built my own company training people on the market and then offering managed accounts. But I am sure you know better and I probably know nothing about this industry or how to trade. Lol.

 

[EnlightenedJoe]

Considering your earlier statement you seemed doubtful which is why I mentioned testing the techniques on a demo so you can see with no risk that they work.

I was not doubtful at all. I was willing to put my money down the moment you said you have something that works. But you can't expect me to study your indicators. That's too much work. So copy trade was the quickest way for me.

 

[Dylan.vts]

Do you mean you need to open three different charts for the three different settings?

I see what you mean by when you say you have different signals as not all have time to sit in front of their computers all day. For someone who is available to trade the full London and half of New York, which would you say was the best to use. Which do you use most with best results.

No not at all, you click insert indicator and click bollinger. then set the first one and repeat to set the second and third. so all three appear like in my training. I honestly use them all but my favourite would have to be the stochastic.

 

[Dylan.vts]

I was not doubtful at all. I was willing to put my money down the moment you said you have something that works. But you can't expect me to study your indicators. That's too much work. So copy trade was the quickest way for me.

Its 4 images making up 8 power point spread sheets. That is very little work considering what can be made from it.

 

[Dylan.vts]

Ok I think I have spent enough time on this thread. If you need help and you have actually gone through my training then private message me or skype me as I will no longer be replying to the messages on this thread. That also applies to any posts I have not yet replied to. I think I have said what I need to and the proof and training have been provided. I look forward to hearing from you and helping you succeed. Take care.

 

[EnlightenedJoe]

Its 4 images making up 8 power point spread sheets. That is very little work considering what can be made from it.

Well, the reasoning is that it doesn't appear to make enough for you so that you can stop trying to get money from the beginners. If you have no confidence in it, why should I bother ?

 

[darktone]

Lol nice to see more entertainers on here too. What is your profession? I'm guessing you don't have your own company in the forex market like I do. Impressive how someone like me who doesn't know **** as you say has an account probably bigger than you could dream of with a successful business. And guess how I started, inheritance? No I was a sales rep that got damn good at trading and built my own company training people on the market and then offering managed accounts. But I am sure you know better and I probably know nothing about this industry or how to trade. Lol.

Chill my friend. If you take another look youll find my post was in your favor.
You dont seem to use hard stops, neither do I. I was applauding that

 

[Dylan.vts]

Well, the reasoning is that it doesn't appear to make enough for you so that you can stop trying to get money from the beginners. If you have no confidence in it, why should I bother ?

Sorry I know I said I wouldn't reply but I actually couldn't leave that last message. I have posted my training for free and my results so I am confused about the money from beginners comment. I am helping them make money by giving it away. If you cant put in the effort you don't deserve mine. This is my final word on the topic.

 

[EnlightenedJoe]

Sorry I know I said I wouldn't reply but I actually couldn't leave that last message. I have posted my training for free and my results so I am confused about the money from beginners comment. I am helping them make money by giving it away. If you cant put in the effort you don't deserve mine. This is my final word on the topic.

Let's not be all final about it. It's not like you are going anywhere.

A few posts back you said you don't call out trades because you only do training and managed accounts. That's basically getting money from the beginners. Did you imagine a pro will need your training or they need you to manage their money ?

Perhaps you are posting in too many forums in all the "trading" sites, so you can't remember the things you posted. I regret having to remind you of the things you said and make you look bad.

 

[itspossible]

Hes getting all arsie now and mad-typical bull--itter
https://www.youtube.com/watch?v=4-PIckHrZ0o
please see below for a delicious double duplicate post-i blame the site

 

[Reds28]

I am not a fan of people here readily dismissing anyone that claims success. Just because there are loads of failing traders or newbies they automatically assume everyone is lying.

 

[EnlightenedJoe]

I am not a fan of people here readily dismissing anyone that claims success.

Me neither. This is why I was wiling to put money in from the word go. I believe in success and I believe I will make money from their techniques.

 

[itspossible]

Reds28-Joined Apr 2016
Dylan.vts-Joined Apr 2016

 

[itspossible]

Chill my friend. If you take another look youll find my post was in your favor.
You dont seem to use hard stops, neither do I. I was applauding that

Sorry I know I said I wouldn't reply but I actually couldn't leave that last message. I have posted my training for free and my results so I am confused about the money from beginners comment. I am helping them make money by giving it away. If you cant put in the effort you don't deserve mine. This is my final word on the topic.

Hes getting all arsie now and mad-typical bull--itter
https://www.youtube.com/watch?v=4-PIckHrZ0o

Interesting to note how these trades might have turned had you used the much recommended hard stop. No slippage considered for sake of safety blanky.

stop size = -2 (the FXMOFO special)
W = 0
L = 18
result = -36

stop size = -10
W = 2
L = 16
result = -110

stop size = -20
W = 6
L = 12
result = -54

stop size = -30
W = 10
L = 8
result = +229

stop size = -40
W = 12
L = 6
result = +441

blah blah blah

no hard stop
W = 18
L = 0
result = +1422


:whistling

With no hard stop you have lost control of the position and you are looking to the heavens and hoping it will turn around.i suppose if you have a hedge then that is different.if you are ok with the mindset of letting go of position then thats ok .i could never do that personally and would take the loss eventually.ive seen traders average down and buy more.the stock went to zero and never turned around.i s--t u not that they were telling me to buy on the way down.a lot lost about 5 to 10 k on that one.someones uncle twice removed had inside info etccall me a hypocrite as i have let my standard life endownment almost mature-i should have binned it yrs ago.

 

[EnlightenedJoe]

Chill my friend. If you take another look youll find my post was in your favor.
You dont seem to use hard stops, neither do I. I was applauding that

Would I get any applause if I tell you I don't use stops, soft, hard or medium done ? I only go by inventory. For instance, if tesco has warehouse full of cola, their price won't be going up, and a stop on the up side would be pointless and would invite a spike in the cola price.

 

[itspossible]

Would I get any applause if I tell you I don't use stops, soft, hard or medium done ? I only go by inventory. For instance, if tesco has warehouse full of cola, their price won't be going up, and a stop on the up side would be pointless and would invite a spike in the cola price.

If over all of the years that you have traded you are up then Y.E.S.