Loss Trader wanted

[wrm]

i am looking for a losing Forex trader that can make at least 5 trades a day, but no more than 30 trades every week on a demo 1000$ Metatrader 4 account so at the end of the week the account have no money left.

Yes, i am looking for a loss-making Forex trader.

Rules for trading:
1) 1000$ demo Metatrader 4 account on Alpari UK
2) 1:100 leverage
3) Every trade lot size must be 0.1
4) Every trade must have at least 40 pips stop loss
5) Every trade must have take profit no more than 40 pips
6) No more than 30 trades every week
7) At least 5 trades a day
8) No more than 5 trades open at any time
9) GBPUSD and EURUSD pairs
10) No hedge trades, which is not to have BUY and SELL at the same time on the same pair
11) Send me some info to [email protected] about your trading style and start with the word "Howdy" so i would know you have read all the rules
12) Trading during London/European session
13) Market or pending orders can be used
14) Please attach LIVE trading statement (1 week or longer)
15) No EA backtest statements. Will ignore all of them. I am interested only in live manual or EA trading

If you are able to blow 1000$ demo account every week following all my rules i can pay 100$ a month. Please contact me at [email protected]

 

[Lord Flasheart]

Great idea for a thread.
It cant be done with the leverage qouted

 

[Hoggums]

Why the hell would someone supply you with such an idiotic statement of losers. Besides to satisfy your requirements would take a system as good and rare as any winning system.

Are you under the misguided notion that you will trade the reverse of these bad trades and make a lot of money.

Let me tell you now - it won't work - because most systems fail because they have lots of small winners - small because a large proportion of profit is taken up by spread and a small number of super big losers. Unfortunately the reverse of this system will probably also end up a loser because you still pay the spread whether going long or short.

 

[Lord Flasheart]

Hoggums.im assuming hes taking the ****

 

[donaldduke]

Are you under the misguided notion that you will trade the reverse of these bad trades and make a lot of money.

Let me tell you now - it won't work - because most systems fail because they have lots of small winners - small because a large proportion of profit is taken up by spread and a small number of super big losers. Unfortunately the reverse of this system will probably also end up a loser because you still pay the spread whether going long or short.

Exactly. the only party that can viably 'reverse' a losing traders day trades is a spread bet firm or fx bucket shop, because they would earn the spread on each trade, meaning they would make on each trade exactly the amount the losing trader is losing.

30 trades a week is almost 100pips in spread that needs to be paid to just break even.

 

[hoodoo man]

Fading a loser is a sensible strategy in some circumstances.

Paying the spread is an issue here. Perhaps the thread starter wants to learn which mistakes losing traders make, rather than fading each order. This is a valid place to start developing a trading strategy.

 

[the hare]

$100 a month FFS !

 

[Pat494]

Is the thread starter wanting to capitalize on the theory of winners and losers. I think the theory goes that in any group of traders there will undoubtably be just that winners and losers and it will only take a week or two to categorize them.

So what you may say ! Well the winners build their confidence and winning profits while the losers get worse as their frustrations mount.

Then most companies make a rational decision to sack the losers. Many times this has the strange effect of upsetting the winners. Probably because they need to evaluate their own superior performances versus the losers. If the losers are no longer in place they won't be able to.

Those in the middle naturally drift toward the winners making more winners. The pool of losers gets smaller and smaller.

Bringing in even better traders can also turn a former winner into a loser strangely. The psychological vibes are different.

 

[Jason101]

Is the thread starter wanting to capitalize on the theory of winners and losers. I think the theory goes that in any group of traders there will undoubtably be just that winners and losers and it will only take a week or two to categorize them.

So what you may say ! Well the winners build their confidence and winning profits while the losers get worse as their frustrations mount.

Then most companies make a rational decision to sack the losers. Many times this has the strange effect of upsetting the winners. Probably because they need to evaluate their own superior performances versus the losers. If the losers are no longer in place they won't be able to.

Those in the middle naturally drift toward the winners making more winners. The pool of losers gets smaller and smaller.

Bringing in even better traders can also turn a former winner into a loser strangely. The psychological vibes are different.

This post could also be placed in the “Why do you use trading forums thread”

 

[tommog]

Just get a software package like Tradestation, teach yourself the programming (very simple for basic ideas, MA crosses/basic price patterns). If you build a losing system then reverse the signals (i.e system is a losing system so when it says buy you sell etc). The system will still lose money.

Remember, trading isnt a zero-sum game (where for every winner there is a loser) it is a negative sum game because of commissions and slippage.