What consitutes a "LIVE TRADING CALL"

[trade2windows]

So you believe I earn on average £2500 a day and so on say 200 trading days of the year that makes 200 x 2500 = half a million a year -

Tax man would say - "He's lying - its more than that"

And I would say

No dont earn that - all the experienced traders at T2W say I am a Walter Mitty - old nutter and his methods are cr*p - so lets just say its not even half that

No body will know as far as I am concerned - ( not even the wife lol)

PS - you have got it wrong anyway as my average is not 5 lots - thats £32 a pip - nothing like a £50 a pip average - and what about all the 30% trades ??

Eh no I believe you make sweet (BEEP) all...
My calculations were made on your comments not on lot sizes ...

Ok I looked back at the orignal thread ,...thats in dollars...Why did you talk in dollars back then

 

[klw]

Nice idea, but I don't think bickering will ever stop on a trading forum.

Another key problem is that most "live calls" are also pretty meaningless.
- Firstly most calls aren't live (forums have delays) and wouldn't work with a scalping methodology.
- Secondly a directional call with no risk mgmt, position sizing, profit targets etc is meaningless. The focus becomes win rate, not expectancy & risk adjusted returns.
- Thirdly, there is no proper PnL (so no statistical sample or trade sizing - it's different trading 50p/pt to £50/pt).
- Fourthly there is no proper verification. I've witnessed "live call" threads with calls that are:
a) edited/removed after the event to suit the poster
b) averaged down forever until they return profit
c) winners posted, losers quietly forgotten about
d) posted with zero verification

Not to bash such threads - I've joined in a few - and each to their own. But my advice to newcomers is take it all with a pinch of salt.

Of course DJ I would agree in general with everything you have written above.I doubt we will ever get an " expert " trader to reveal all the necessary details in order to prove his / her expert status on a forum but how about just satisfying a few basics so that at least we can see if they can pick them or not , an experienced trader would have a pretty good idea pretty quickly as to their competence or not. Pips gained or lost ( I will personally assume level stakes ) don't lie.

At least we've had some different thoughts on the thread.

 

[Forexmospherian]

Eh no I believe you make sweet (BEEP) all...
My calculations were made on your comments not on lot sizes ...

Any advances on that ??

So I make between £0 per annum trading and £500k per annum

That's about the same accuracy as most FX traders calls - rofl

Must get ready for tonight

Happy new year to you all - even tax men

 

[trade2windows]

Any advances on that ??

So I make between £0 per annum trading and £500k per annum

That's about the same accuracy as most FX traders calls - rofl

Must get ready for tonight

Happy new year to you all - even tax men

How about £210,000 - £420,000 a year

 

[timsk]

Here's a suggestion.

Why doesn't T2W set out a minimum standard required for live calls for any poster claiming to be an " expert " AND when they make live calls . ( We may have others on here claiming to be institutional / expert traders etc. but they are simply running a journal on set ups etc. , this is different in my opinion )

The " expert " will then have to satisfy these standards and until such time they do will have to bear a " flag " of some sort on each of their posts ( could be in their footnote in capital letters ? or a side note etc. ) stating something like :-

" This trader claims to be an expert trader , he/she has yet to satisfy T2W via our live call standards his/her suitability for this title , blah blah blah etc. " , you get the idea.

So time stamp,price of entry , stop loss , units ( if more than 1 for partial profits etc. ) or whatever minimums T2W deems necessary. Minimum number of calls ? Who knows , 10,20,50 and a link to his calls to date possibly, so we can all see for ourselves how much of an " expert " they are.

And then can we PLEASE stop all the bickering.

Hi klw,
Thanks for your post - and the suggestion.

It's not the first time this idea - or one along similar lines at least - has been proposed. On the face of it - it has merit - but there are complicating factors. I welcome further thoughts and suggestions and if the general membership conclude that the pros outweigh the cons, then we could have a trial. I suspect there won't be too much of a problem about reaching an agreement as to what constitutes a living trading call. After all, this very thread by Dinos is pretty conclusive on that front, IMO. The issue will be what does / doesn't happen when members who claim to make such calls fall short of the 'T2W standard'. In addition to the points made by Dow Jones, here's a post of mine from earlier in the thread in which I responded to mike's idea of a similar vein.

Definitely food for thought for 2015. Have a great year ahead one 'n all.

Tim.

 

[trade2windows]

Hi klw,
Thanks for your post - and the suggestion.

It's not the first time this idea - or one along similar lines at least - has been proposed. On the face of it - it has merit - but there are complicating factors. I welcome further thoughts and suggestions and if the general membership conclude that the pros outweigh the cons, then we could have a trial. I suspect there won't be too much of a problem about reaching an agreement as to what constitutes a living trading call. After all, this very thread by Dinos is pretty conclusive on that front, IMO. The issue will be what does / doesn't happen when members who claim to make such calls fall short of the 'T2W standard'. In addition to the points made by Dow Jones, here's a post of mine from earlier in the thread in which I responded to mike's idea of a similar vein.

Definitely food for thought for 2015. Have a great year ahead one 'n all.

Tim.

What if a Moderator or admin set up a thread in the journal sections ,so then they have the ability limit who can or cannot post .....So anybody wanting to post in the thread can ask to become a contact of said moderator and begin posting.If any posts fall short of the requirements ,the posts are deleted and member is ejected from the thread ....You could have say 2 warnings and then a total blanket ban on using the thread if you continue to post the wrong way


Please can subscribers to the thread who think this suggestion has merit click on the thumbs up icon to 'like' the post. That will provide a quick straw poll as to what y'all think. Thanks.
timsk.

 

[Fugazsy]

Think about it on his live account of £1000

He kept to under 2% stake size - ( did not on demo)

His stops are as tight as yours ( no mean feat )

He trades a lot - 24 trades in about 4 hrs - but if he kept to his discipline of stops under 5 pips and no stake over 2% of capital - he would need an awful lot of bad trades to blow that live account up.

The key is really not compounding - that buggers so many traders up until they have grown balls ;-)

Regards


F

F

More trades does not mean more profits, one has to learn how to trade without taking any trades meaning has to learn to stay engage with the market without been in it........In my view, there are not numerous opportunities (in the arch of 4 hours for a target of minimum 10 pips) in one instruments, some days you can have 6, some only one, the key is to be there, recognise the conditions and take the best trade available, if none but engaged in it shows a great deal of maturity as a trader.

 

[MajorMagnuM]

Happy new year all.
just a quick abstract to summarize my progress.
1) I am sticking with this method
2) I am going to stop taking a larger positions after ten straight good trades. This is bad management and usually brings my daily pl to zero, after which I usually can repair 30 to 50% of the damage within the next 6 trades, but those trades always have a note of desperation as I try to claw back what was lost due to greed /stupidity. The odd thing is I have not learned to cap my fear/greed in regard to this, despite repeating the same mistake again and again.
3) too large a position still makes me flinch if my position goes to -3 pips. this in turn totally skews my judgement and results in further mistakes.
4) I must accept that building at a reasonable rate is no bad thing
5) I will begin to follow F calls more than forging my own path. As is typical with many learners, I want to run unaided before even walking confidently. Last year I was too arrogant and resented taking positions on situations that I could not divine myself. This is why I trade more per hour than F. I am seeing the micro more than the macro and as such cut positions too early. I see that my trading behavior is similar to that of an ant following a tiny path and never looking up to perceive the greater levels.

 

[MajorMagnuM]

an example of clawing back. my last trading day i did the usual and used too much, reduced daily pl to nothing then had to do this to end in profit for the day

 

[Fugazsy]

Trading is highly addictive and we need to be aware of it.

Do we get an emotional response when we take a trade? (increase in palpitation, hope, thrill, greed, fear......). If yes, well that is a good indication that we still need to do a lot work on us to became a good trader.

Overtrading is also a good indication that we are not there yet, it is a clear indication that we are in it for the thrill and trading is not treated as a business yet.

 

[MajorMagnuM]

Trading is highly addictive and we need to be aware of it.

Do we get an emotional response when we take a trade? (increase in palpitation, hope, thrill, greed, fear......). If yes, well that is a good indication that we still need to do a lot work on us to became a good trader.

Overtrading is also a good indication that we are not there yet, it is a clear indication that we are in it for the thrill and trading is not treated as a business yet.

yep!

 

[Forexmospherian]

F

More trades does not mean more profits, one has to learn how to trade without taking any trades meaning has to learn to stay engage with the market without been in it........In my view, there are not numerous opportunities (in the arch of 4 hours for a target of minimum 10 pips) in one instruments, some days you can have 6, some only one, the key is to be there, recognise the conditions and take the best trade available, if none but engaged in it shows a great deal of maturity as a trader.

Hi Fugazsy

Happy New Year to you

I will copy your comment into my live thread to answer later on rather than go more off subject on this thread

All the best


F

 

[Forexmospherian]

My comment in the Intraday Live short term calls from a expert retail FX trader this

A very happy, healthy and prosperous 2015 to all FX Intraday Traders

As of Monday January 5th 2015 I have decided to change the format of this thread - in fact I might compliment it with another thread purely for Live Trading Calls on FX pairs - that will not be scalp trades - but instead short term Intraday trades that might last 10 mins to a few hours - all with targets of 7 -30+ pips and with some then staying on with a lower stake size with a stop in profit to see how they mature.

All Live calls with be from small stops of 3 to 7 pips - and all in advance - ideally - 5 to 30 mins before the actual entry with a target to drop to a smaller stakes with the stop moved into profit - or 100% stake exited.

I do not plan to do 10 -20 of these calls a day - simply because the majority of my present trades are scalps that some times last less than 3- 5 minutes and they cannot be properly called and seen and replicated by non method followers .

As of now the only Intraday traders who can take these scalp calls are traders using my chart set up and time windows etc - and I will not be supplying those on another thread.

Its time to "up the trading bar" on FX trading - to move away from larger stops and static "dead " analysis with a fixed target that might happen in 2-5 hrs or even 2-5 day.

Thats for fortune tellers / guessers / newbies - this way is for advance experienced FX Intraday traders who want profit out of every trading session.

OK - as normal today

Have a good one


Regards


F

Comment ready for a new thread - specifically on LIve Intraday calls in advance with stops and targets on FX pairs starting next week

 

[jeffre4]

Comment ready for a new thread - specifically on LIve Intraday calls in advance with stops and targets on FX pairs starting next week

re above have i missed any

 

[Forexmospherian]

re above have i missed any

Well there as been loads of live calls in old thread along with one nice one - 3 actually on the AU - in advance - clear with a 4 pip stop in that new thread by 12tbw

So yes - you are missing a lot Jeffre4

Happy new year to you

Regards


F

 

[myattitude]

I voted 1. is ANYONE doing this??

 

[myattitude]

Hi klw,
Thanks for your post - and the suggestion.

It's not the first time this idea - or one along similar lines at least - has been proposed. On the face of it - it has merit - but there are complicating factors. I welcome further thoughts and suggestions and if the general membership conclude that the pros outweigh the cons, then we could have a trial. I suspect there won't be too much of a problem about reaching an agreement as to what constitutes a living trading call. After all, this very thread by Dinos is pretty conclusive on that front, IMO. The issue will be what does / doesn't happen when members who claim to make such calls fall short of the 'T2W standard'. In addition to the points made by Dow Jones, here's a post of mine from earlier in the thread in which I responded to mike's idea of a similar vein.

Definitely food for thought for 2015. Have a great year ahead one 'n all.

Tim.

What ever complicating factors there might be, let US deal with them, there are more complicating factors by being vague.

I for one learn very well by seeing people's exact trades (ala Option 1), discovering why they did it on my charts, and learning what then happens from the trades they chose and why.

It really is the least complicated way to do live calls.

 

[Dinos]

I am happy in the new year to change and make some calls in any format you want

Hi Guys, the polls just about dried up, the results show 87% off the pollster favour OPTION 1 as the way a Live call should be made.

FOMO agreed (as quote above) to make some calls in any format I want. So I ask him here to see through that statement and for 5 trading days, record at least 2 trades a day here with the additional requirements in the following format.

I'll be generous and simplify it for ease of use, working to a 30 second rule, that will provide ample time, to record the trade, (I know I do it), therefore we can see the target area you previously identified, then most importantly, we can see you have acted on your own advice, we can see the time of entry, the price you got at entry, your stop loss.

If you follow your normal trading manner and identify key trading areas, then all I ask, when you place your trade in accordance with your trading strategy, add the following this to confirm the trade has taken place.

EG: EU scalp buys above 18 and 22, when this area is hit, ALL I ask you add this final piece of the jigsaw:

Then when you go into the market , add

1) Entered EU Long @ 1.2000, sl 10 pips (within a max 30 seconds of trade)

All extremely simple, clear, uncomplicated, you identify in advance the area we can see you act on your own advice.

FXMO, nobody, is after your trading strategy or wanting a signals service, this is an opportunity to silence the doubters.

Thank your for agreeing, to do this.

Regards. Rob

 

[jeffre4]

mofo will now spend a 1000 words telling you why he cannot comply.

 

[itspossible]

has someone just voted for option 2 in the last hour-im sure there were only 2 voters before