Intraday Trading the Forex market to make consistent profit

[Forexmospherian]

this is bizarre. Tar actually made a live call on another thread today. What's the big deal about making a live call, I mean who really cares. I made a call on the euro last week and got my ar$e handed to me, so what. it's no biggy is it. it's no biggy to post your fills is it. This is like a Gordon Brown moment when he kept plugging on regardless when he had zero credibility.

G/W I know I will.

Hi SCM

The big thing here about making a live call - is it seems all you lot on that other Lord Flash guy's site that run for years were pretty useless

The standard was just way below acceptability and fairly pathetic

If all of you had just tossed a coin you might have made better calls

I only had the displeasure of going on it for one week - and then released I was dealing with total envious haters

I can remember all the jokes now - ie

He won't last a week

He wont keep that up

He cannot trade

You lot have had to eat humble pie far too much already

You can eat more when I am ready ;-))

Regards

F

 

[Forexmospherian]

I sincerely hope I can continue to post pictures of rodents and their unfeasibly large testicles on this thread, unimpeded by you.

I liked that Robster - because I thought it was funny

But on serious note- grow up

This site is free

Its got rules and regulations

If you cannot abide by them - then leave for another site

Why in earth do you think you should be able to post any pictures you want ??

i have got a sense of humour and love those pictures - but if I had a site like this and some member kept dissing the rules and reg - well - you know the rest .....

Regards

F

 

[Forexmospherian]

Just 3 months ? Then you didn't get what i meant by "patience"

Just realised that you are not denying it -

Come on you dont have to be the brains of Britain or Inspector Closeau to see what went on today

You actually chose a bad day to do it - as trading was great

You are very welcome to come and try and annoy me every day - because now I know the nature of the game - I can play back

Look forward to next week - it should be good

Regards

F

 

[Forexmospherian]

Hi Forexmospherian
Could you post the speeds for the LR's please, i Know you'v posted them before but i'v been looking through past posts and cannot fined them.
Thanks.
YT.

HI YT

Hope you have found them OK

They are tweaked every few months - and different platforms might mean slightly different settings - as all broker charts are like 1970's car speedometers - ie not very accurate

Have a good weekend

Regards

F

 

[robster970]

But on serious note- grow up

Thanks for the advice. I'll leave it to the site admin to decide on how they treat me and my long run average posting behaviour.

Some advice for you now. Have a think about why you felt compelled to chastise me.

 

[sonofcablemonster]

Hi SCM

The big thing here about making a live call - is it seems all you lot on that other Lord Flash guy's site that run for years were pretty useless

The standard was just way below acceptability and fairly pathetic

If all of you had just tossed a coin you might have made better calls

I only had the displeasure of going on it for one week - and then released I was dealing with total envious haters

I can remember all the jokes now - ie

He won't last a week

He wont keep that up

He cannot trade

You lot have had to eat humble pie far too much already

You can eat more when I am ready ;-))

Regards

F

I think its pretty obvious you are going to deflect and change every question into another one. We have had quite a few who have done this over the years. Wall street 1928 and Mr SB being prme examples.

 

[morgan_edge]

Hi SCM

The big thing here about making a live call - is it seems all you lot on that other Lord Flash guy's site that run for years were pretty useless

The standard was just way below acceptability and fairly pathetic

If all of you had just tossed a coin you might have made better calls

I only had the displeasure of going on it for one week - and then released I was dealing with total envious haters

I can remember all the

F

If you were forced to make genuine live calls, then i'm sure you'd do no better than lots of them posters to be fair.
There's been some very good ones over the years in fact.

By genuine live call, i'm talking
''L 1.6554 - 15tick stop'' for example. Such as those in flashearts thread, and even teh calls made by new kid on the block, ballard (where the price is within 2 ticks at the time the post is published which is often no issue), as opposed to lots of vague scalp sell/buy areas which are then 'managed' in hindsight.

After all of the flack you seem to have received yesterday (just catching up with this thread now) you had the best opportunity ever to wipe the smile off of peoples face by uploading your statement showing your apparent +100 pips profit on cable. Obviously you can't magic up a statement if one doesn't exist, which might explain the very defensive attitude.

There are clever ways now to tell if you are photoshopping the document etc, so don't worry about people saying that.
The fact that you won't do that makes it obvious to most of us why that is
OK, so you aren't actually trading real money, but who cares.
People might still be interested in your calls/

Now. I would then suggest that you make 'real' calls, if only for a few days.
You can even do it on just one pair that everyone can follow which will make it very easy to follow indeed.

On a side note, if you guys want a laugh, go to the other trading forum bigmiketrading.
There are a few threads like this one.
The best one is the oil daytrading thread.
Every single person in the thread post charts at teh end of day (Just charts. No statements or realtime calls throughout the day) where they put arrows on their charts showing their apparent entries which usually average about 250 ticks profit everday! lol. Rain or shine.
Sadly there's lots of noobs who fall for it, and are probably getting PMs being offered 'coaching' (for the right price of course!)

At least I DONT think FXM is secretly trying to rip people off.
I think it's more a case of a bored old dude who is interested in trading but also a bit of a fantasist. Relatively harmless, and in fairness I think the various excellent posters who seem to have left were likely already on their way out with threads such as this simply cementing their decision at a guess.

 

[Pondlifedregsbutler]

Only just found this fred thanks to tar.

Few things i've picked up on so far;

Mopho keeps his powder dry. Me too, it's crap when wet. Shame you don't flash it around like your calls we'd all be happier then.

Mopho can touch wood at 60. Bloody good show old boy, most men that age would require a bluey.

Not only can Mopho touch wood at 60 he can also last for weeks and is still going strong. Kinell!

Mo you came on here guns ablaze giving it the bigun n blasting out teh large. waddya expect?

Ps I like you but think you're as nutty as I am.

I'm off for a tug followed by a run.

 

[Splitlink]

I'm not trying to denigrate fxmo here (he's always been v polite to me, & to be fair I don't know his a/c size details, trade stats etc) but new traders should be aware that LV is completely correct in the points he makes about over-leverage.

I agree with you that LV is correct and is, always, worth reading but I believe that reality has to be addressed in this case. Let us see if we are on the same page, here. I am, very much, a small trader and cannot trade , realistically, anywhere near the 0,5% level. I wonder how many new guys are trading with 6000 in the account?

If there is 6000 in the account, at 0.5%, the risk should be be no more than 30. You are suggesting that, with a SB company, a trader should limit his loss on forex to 1 per point if his wants to use a 30 point SL?

This is where, IMO, the difference lies between LV's argument and MoPho's. It's horses for courses. Lehmann Bros was criminally wrong to trade overleveraged with shareholder's money.

As far as the small T2W operator is concerned, though, he has to take chances with the capital he has available to trade and, over the top I may be, but my risk per trade is never lower that 2,5%. I'd love to be able to bring it down, but take the money out, periodically for family reasons.

 

[tar]

I agree with you that LV is correct and is, always, worth reading but I believe that reality has to be addressed in this case. Let us see if we are on the same page, here. I am, very much, a small trader and cannot trade , realistically, anywhere near the 0,5% level. I wonder how many new guys are trading with 6000 in the account?

If there is 6000 in the account, at 0.5%, the risk should be be no more than 30. You are suggesting that, with a SB company, a trader should limit his loss on forex to 1 per point if his wants to use a 30 point SL?

This is where, IMO, the difference lies between LV's argument and FoNo's. It's horses for courses. Lehmann Bros was criminally wrong to trade overleveraged with shareholder's money.

As far as the small T2W operator is concerned, though, he has to take chances with the capital he has available to trade and, over the top I may be, but my risk per trade is never lower that 2,5%. I'd love to be able to bring it down, but take the money out, periodically for family reasons.

Risk 2% or 3% in 1 trade its ok and more than ok , but do you risk 2% in 5 pips ?

 

[Forexmospherian]

Morning Guys

A bit later on today - I am going to try and get this thread back on topic - ie my FX trading method of making consistent profits daily.

Its totally free - useless to newbie forex traders - but for intermediate level onwards traders who also like using their eyes and their brains - it will be priceless

Trouble is - you have to put some work and study in yourself - so its just no get rich in a week or month rubbish

I would think that within 6 -12 months you would be making a good profit every day at least 90% of the time

To get to my level - just add a few more years and then a few thousand more trades on live accounts

At 10 -20 trades per day - that's not that long ;-)

Regards

F

 

[Splitlink]

Hi guys - yes - i agree with LV and DJ

I am speaking with forked tongue here - as with my own main account with over $50 -70k in it - I rarely use over 1 % on 5 pip stops - and my free trades can be as low as 0. 2% stakes and when I have 2 scalp on I am on 0 .4 / 5 %

However on smaller account sizes under 10k - I personally would use 2 % stake sizes - even with 5 pip stops - but only because I feel I have a good enough track record to get away with it.

I actually personally suffered when Lehmans went down - as had a large amount of funds ( over several 100k's) in an unsecured account

Actually the real reason they went bust was due to Goldman Sachs not paying them a loan back on the Monday morning - when they knew they were already in trouble and of course GS are notorious for putting the boot in too any of their financial colleagues ;-)

Also I am going to look silly when I open a $500 fun account and start using 15% stake sizes with leverage at 500 or 1000 - but I have done it before and accept if I lose and wipe the account out - the actual risk is still less than 1% on my $50+ k account

So for me its all relative - numbers in isolation can be very misleading

Would I ever use 3% or even 5% stake size on an account over $10k - NO - but yet again its still in actual money risk terms still less than me placing a 1% stake off a 100k account with a 5 pip stop

Regards

F

Yeah, this is, more or less, what I was trying to say. Account size is what controls the risk per trade thing. You mention account sizes way over what I would, even, consider trading with, for purely, personal reasons. How many others are there, reading this thread, trading with a fraction of yours?

I do cheat a little, in this debate, I admit. I could, if I wanted to, put more money into the account, without rocking my boat, if I did take too many hits. That is where my discipkline comes in, I suppose, but what I have in my account is what I feel that I can trade with safely.

 

[J'accuse]

Hornet's nest

Morning F

You sure poked that stick in the small hours and look at the shake=out! I'm not sure if you find it entertaining - many of us do but welcome when the thread returns to form.

Thanks for replying a few days ago - I should have said that I have been live trading DAX for nearly three years with over 1000 live trades and plenty of experience of losing, withing a framework of profitable and consistent trading. I'm happy with my strategy and don't intend to change this any time soon.

I have tested Forex trading in this time and have overall B/E. Definitely totally different markets and I;m determined to study more to become better. I look forward to more of your system as a subscriber.

I'm totally comfortable with people posting unsubstantiated results and v happy to take them at their word. You've said that you use a complexx system which you're prepared to share with others who are prepared to put much work in to be able to understand it, and you promised it would take plenty of time to roll it out. So I cant see why so many people have adjudicated so early in the explanation - seems to me that a system that needs a certain threshold of knowledge and experience creates its own barrier to access and therefore cant offer wrong advice to those unready to receive it.

Regards

Jack

 

[Splitlink]

Risk 2% or 3% in 1 trade its ok and more than ok , but do you risk 2% in 5 pips ?

I don't enter a trade with that idea, but I may decide to get out, or take profits..it depends on how I feel how the price developes and my feeling, when I do that, is that the trade has, or is about to, fail.

This is personal stuff. We are, all, different.

 

[tar]

I don't enter a trade with that idea, but I may decide to get out, or take profits..it depends on how I feel how the price developes and my feeling, when I do that, is that the trade has, or is about to, fail.

This is personal stuff. We are, all, different.

Thats what the discussion was about : risking 2% in a 5 pips SL .

 

[robster970]

Thats what the discussion was about : risking 2% in a 5 pips SL .

So I am curious about this. Why is this materially different to me doing 2-3% off 6 ticks on ES. Why is that acceptable on e-mini but not on fx?

 

[tar]

So I am curious about this. Why is this materially different to me doing 2-3% off 6 ticks on ES. Why is that acceptable on e-mini but not on fx?

You are leveraged as well , but 6 ticks in ES isnt really equal to 6 points in Dow or Euro its a 1.5 handle , and its not about being acceptable or not , at the end each to their own , one may even risk 20% in one trade but is he over leveraged ? yes .

 

[robster970]

How many lots for what size account? Apologies if this is covered elsewhere.

 

[Yorkshire Terrier]

Thats what the discussion was about : risking 2% in a 5 pips SL .

Perhaps there should of been another thread started (How leverage affects your account with small stops), and that would of freed up this thread for what it was started for ie Forexmospherian attempt to explain his system to people who are genuinely interested.

 

[Splitlink]

Thats what the discussion was about : risking 2% in a 5 pips SL .

Sorry, I must have missed that, somehow, or I got onto another line of thought.

Sorry. FoMo, to have got off topic.