1,000 % p a fx mercenary trading

[bevok]

Its good that you're proceeding cautiously. Is it something you tested on past data or a good idea you've implemented in demo for a period? If the latter and its intraday you can get software called Forex Tester with free tick data back around ten years. It might be good just to try it on different times in the past where the market has behaved differently to make sure its not too 'focussed on the now'.

DBFX certainly has a nice looking platform. Good luck!

Edit: Actually having read the earlier part of the thread a lot of luck is going to be required

 

[oildaytrader]

Its good that you're proceeding cautiously. Is it something you tested on past data or a good idea you've implemented in demo for a period? If the latter and its intraday you can get software called Forex Tester with free tick data back around ten years. It might be good just to try it on different times in the past where the market has behaved differently to make sure its not too 'focussed on the now'.

DBFX certainly has a nice looking platform. Good luck!

Edit: Actually having read the earlier part of the thread a lot of luck is going to be required

Luck will help , but if luck only comes 50% of the time bad luck comes 50% of the time , will luck be any good?This is really where the trader's balls,appetite for success ,concentration , skills, knowledge , guile, trading tricks, money management, discipline ,gambling staking systems, trading systems,risk management, set ups ,experience ,nerves,personality and a method come into play.

You can not test discretionary trading .You can not teach this form of trading to anybody.

O D T

 

[bevok]

All those things are very important, however I disagree that you can't test discretionary trading, unless it is 'taking a punt' e.g. its looking bit overdone, I'll keep putting in sell orders until it moves down and cash 'em in. If you've got a method (as it sounds like you have) there is no reason that can't be tested over time. If its technical (price action based) then its very straightforward, just click through the bars of the price history taking decisions and implementing your plan as you would in real time. If its fundamentally based its a bit more difficult as you're going to have to also have the types of information available that you use for your everyday decision making. Of course just because something is more difficult doesn't mean its the wrong thing to do - in fact as I'm sure you know you'll be rewarded in this business for doing the things everyone else is either too afraid or lazy to do.

 

[oildaytrader]

All those things are very important, however I disagree that you can't test discretionary trading, unless it is 'taking a punt' e.g. its looking bit overdone, I'll keep putting in sell orders until it moves down and cash 'em in. If you've got a method (as it sounds like you have) there is no reason that can't be tested over time. If its technical (price action based) then its very straightforward, just click through the bars of the price history taking decisions and implementing your plan as you would in real time. If its fundamentally based its a bit more difficult as you're going to have to also have the types of information available that you use for your everyday decision making. Of course just because something is more difficult doesn't mean its the wrong thing to do - in fact as I'm sure you know you'll be rewarded in this business for doing the things everyone else is either too afraid or lazy to do.

Let us say the RSI is oversold on a trend , stochastics on hourlies shows bears fleeing and stochastics on dailies shows bears winning.The next day Stochastics on dailies is up . but hourlies is down and rsi is above oversold.There are two variations the bulls and bears want to hold their position on the first day , but abstain from all trades on a second day .How do you back test this consistently based on historical data over 10 years?

 

[oildaytrader]

The strategy is based on scalping for around 5 to 10 pips , and it works

It works with automated robots

http://hubpages.com/hub/Expert-advisors-making-8-000-per-annum

 

[oildaytrader]

Here is a chart of mercenary trades

 

[oildaytrader]

do not confuse this method with the robots.

http://www.prlog.org/10486457-forex...thout-loss-and-then-it-made-another-1000.html

 

[oildaytrader]

This method is on target and doing well.Today's profit $2000 and it can achieve it everyday consistently.

 

[Yoshie]

Traders need to make only 10 pips a day to turn a simple $10,000 into $340,000 within 37 trading days .Simple power of compounding gives 3300 % in less than two months .

Trading is very simple ,we complicate things.

this is very wrong; its not 10 pips but 10%
1.1^37=34 times your starting balance
You would need to gaom10% of your balance everyday.Even at 1:50 using your whole balance will not get 10% in a single trade of 10 pips.

 

[oildaytrader]

this is very wrong; its not 10 pips but 10%
1.1^37=34 times your starting balance
You would need to gaom10% of your balance everyday.Even at 1:50 using your whole balance will not get 10% in a single trade of 10 pips.

You are just repeating what we know, the power of compounding.