Full time trading does it really pay

[fayalac]

No i am sorry, you´re not a bad person, please accept my apologyze.
Ok, My parameters are simple.
I follows macro trends ( daily and 4 hr ).
My trigger is at 1 hr TF
When everything is linned up i enter into a position with a shorther therm graph.
According to price action i foresee my supports / ressitances but sometimes the price move on the other direction before reaching my S/R level, so at those times i simply close my position with whatever the profit can be at that time, so many of my positions are closed between 10 to 50 pips. Many times i get at least 100 pips at that specific trend and sometimes i have made up to 360 pips.
The weekly pips accumulated will rank - if nothing fails - among 1000 to 2000 pips, sometimes, when someting has gone bad i go down to 500 pips.
My win ratio - with pan B and C - is nearly 100%.
Again, i am sorry if i overreacted.

 

[leonarda]

No i am sorry, you´re not a bad person, please accept my apologyze.
Ok, My parameters are simple.
I follows macro trends ( daily and 4 hr ).
My trigger is at 1 hr TF
When everything is linned up i enter into a position with a shorther therm graph.
According to price action i foresee my supports / ressitances but sometimes the price move on the other direction before reaching my S/R level, so at those times i simply close my position with whatever the profit can be at that time, so many of my positions are closed between 10 to 50 pips. Many times i get at least 100 pips at that specific trend and sometimes i have made up to 360 pips.
The weekly pips accumulated will rank - if nothing fails - among 1000 to 2000 pips, sometimes, when someting has gone bad i go down to 500 pips.
My win ratio - with pan B and C - is nearly 100%.
Again, i am sorry if i overreacted.

you sound a bit like that member 4xpip who went on about his 100% success rate, and how when things went wrong on a trade he just shoved that spare few grand into the pot...

 

[fayalac]

you sound a bit like that member 4xpip who went on about his 100% success rate, and how when things went wrong on a trade he just shoved that spare few grand into the pot...

I guess you have not read all posts arround these forum....
That is why i only trade up to 0.3% at any trade..............
I invite you to read before critize..............................

 

[fayalac]

If i enter into a position with 5% of my money and the position loose 100 pips i will loose 50% of my account, if i enter with 0.3% and the market goes against me 100 pips all i have lost is only 3%.
If i loose 50% it will be better to give up to that position and think twice what am i doing.
At one of my previous posts i said three weeks ago i closed a couple of positions loosing in total 600 pips, with my 0.3% of investment limit i only lost 18%, anyway that specific week i won, after the loss i accepted, about 620 pips.
If i were entering with 2% my account had been lost and i had been margin called and i had remained with only 7-8% of my account, with 1% loosing 600 pips my account had been reduced to only 40% with a very small - meaningless, in my opinion - chance to recover into the short therm.
So i wonder, what was 4xpip doing?.

 

[meanreversion]

Fairly amazing trading, do you ever have a down week, and how long have you been trading?

 

[fayalac]

I just checked 4xpip and these guy is a scalper, i have not heard of a succesfull scalping method untill now.
Personally, i scalp, but i do it only sometimes because the risk involved is multiplied into a geometric progression as an inverse relationship as your trading time frame shrinks, what i am talking about here is not scalping.

 

[leonarda]

I guess you have not read all posts arround these forum....
That is why i only trade up to 0.3% at any trade..............
I invite you to read before critize..............................

nope, read that one post, that was enough!

 

[fayalac]

I have been trading for almost 7 years now.
If i stick to my method rules i never have a down week because i will always stick to the trend, when i loose a position, and after plan B and C have failed, i simply close and go after the trend where ever it goes.
If i start "guessing" i have a 50-50% probability of win/loose, but my method does not accept to "guess", i simply decide if i feel comfortable with the trade or not so i enter or not, these has limited the amount of pips i can make into a week but these has, also, saved me, of important looses, so the rules are strict.
The worst week i have had in almost six months is 300 pip winning.

 

[fayalac]

nope, read that one post, that was enough!

Its up to you, i am not selling anything here.

 

[meanreversion]

You've been trading 7 years, you've never had a losing week and in the last six months your worst week was +300 pips? That's awesome, well done.

 

[fayalac]

You've been trading 7 years, you've never had a losing week and in the last six months your worst week was +300 pips? That's awesome, well done.

No, please dont missunderstand me....., of course i have lost.
I was loosing most of the times, i said it before.
Some years ago i started realizing that there was a pattern into the long time frame charts that could be succesfully followed, i simply didnt knew how to do it, in that moment i started changing the indicators i was using, i started adjusting my trading time frames but i was still having one "small problem", my positions used to rank from 1 to 5% and when i felt extremelly sure sometimes i entered with 10%, the results were bad.
I used to have days at which i could win up to 38% of my equity just to find myself loosing that the next day or week.
It was untill i had that chat, which i talked about before, when i realized my ability to predict the markets was good enough to profit but something was wrong, the first i changed were my indicators, it took me long to find something comfortable for me and adjustable to the TF´s i was looking at and the second thing i changed was the investment amount, the last was to work on how to recover a loosing position (plan B and C), that took me long too.
I have nearly one year without loosing in a single week, in fact the worst i have had these year is the one i tell you with 300 pips which with 0.3% meant 10% profit, which is not what i have worked for.
I will not lie, within these year i have entered some positions because i have had a hunch, sometimes it worked sometimes i didnt the problem is that when following a hunch things went bad for me it took me long to recover that position or i had to take a loss, that limit my ability to succesfully invest in the opportunities i can see at the markets.
When following my rules things went bad for me, i can can say to recover a loosing position have not taken more than 1 week, with a huntch it has been up to a month, so i simply avoid to "guess", i only enter when i feel extremelly secure with what i am seeing and that pays back, is safe, and you can make enough pips each week as to start making a living from trading in short. I am not saying you will be rich in a night time, you can have a good living and save to become rich with time.

 

[BlackBison]

so you've been making 300-1000 pips per week for 6 months and you have < $5k in the account right now? pathetic. perhaps you and Dion should keep your money under the mattress, just incase..

 

[DionysusToast]

You've been trading 7 years, you've never had a losing week and in the last six months your worst week was +300 pips? That's awesome, well done.

Yup - and he's currently sitting on an account with less than $10k in it.

If you think about it - making 60% a week and still ending up with bugger all is an achievement in itself.

BTW - the other one has bells on it - perhas a tug would be in order...

 

[DionysusToast]

so you've been making 300-1000 pips per week for 6 months and you have < $5k in the account right now? pathetic. perhaps you and Dion should keep your money under the mattress, just incase..

Don't bring me into this, sunshine...

 

[fayalac]

so you've been making 300-1000 pips per week for 6 months and you have < $5k in the account right now? pathetic. perhaps you and Dion should keep your money under the mattress, just incase..

I respect your opinion, perhaps i should do as you say, i will think about it.
Anyway, i win.

 

[montmorencyt2w]

so you've been making 300-1000 pips per week for 6 months and you have < $5k in the account right now? pathetic. perhaps you and Dion should keep your money under the mattress, just incase..

He's been drawing an income, as I understand it.

 

[brettus]

Yup - and he's currently sitting on an account with less than $10k in it.

If you think about it - making 60% a week and still ending up with bugger all is an achievement in itself.

BTW - the other one has bells on it - perhas a tug would be in order...

Some people are just hilarious.

 

[DionysusToast]

With all due respect, I don't think anyone is debating whether it is difficult to make 100 pips a week. It's not.

I think people are a little skeptical that you can make 60% a week risking 0.3% per trade which sounds, I have to say, completely ludicrous.

Actually - it's 1000 pips a week.

Honestly - if his living expenses weren't so high, he'd be a squillionaire...

 

[Black Swan]

I hear this about home based traders quite often.
If you do not have any self motivation and you need someone to tell you when to start work, when and what to study, etc., then you are not going to succeed in any home-based business (trading included).

In any unsupervised job, business or venture you need to be motivated and have self discipline and working from home is no different.

I wasn't always profitable but I kept at it until I was.

Good points.

Yes we all know the 3 Ms are it, but the determination to make trading work and to keep on going at it because, deep down inside, you know you've got what it takes should not be underestimated.

I bought a few pieces of art a few years back from a firm called starving-wife.com and the quote they used as a company strap line stuck with me;

"A true artist will let his wife starve, his children go barefoot, his mother drudge for his living at seventy, sooner than work at anything but his art." - George Bernard Shaw

Not suggesting we should go that far but imho you have to be totally obsessionally committed to this business to make it work, perhaps more than other businesses because (with trading) the barriers to entry are so low and our threshold for pain likewise therefore the propensity to throw in the towel is so much higher.

 

[DionysusToast]

People can debate whatever they want, but they will not succeed in these field unless they really learn to trade, to learn they should be a little more curios - not skeptical - and instead asking for proof´s they should be asking about the insights.

So let me get this right...

If someone makes outlandish claims, the smart people will ask how, not ask for verification, right?

Perhaps you and I have a different definition of the word 'smart'.

It has to be said that there are some people here willing to inspect EVERY rainbow just in case one of them actually has a pot of gold at the end but most people here are a tad more savvy than that.