Full time trading does it really pay
- Thread starter standleymt
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No, come on, is that all you got?, you are a legendary member, i am sure you can do better tahn that....
What broker do you use?
I dopnt think its important but i´ll tell you anyway. FXCM UK
meanreversion
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Please educate me on statistics if I'm wrong. 0.7^52 = zero, more or less.
Now, I do realise that, given enough traders, this COULD happen, but I'll tell you what makes me fairly sure you're misreporting is this ---- any man who is making money week after week after week will at some point start getting aggressive with his bet size and increasing risk. Yet YOU have not done this. So not only do you defy all probability, you are completely immune to the biases that would afflict pretty much every single trader on t2w.
And the chances of these both being true really is zero.
Now, I do realise that, given enough traders, this COULD happen, but I'll tell you what makes me fairly sure you're misreporting is this ---- any man who is making money week after week after week will at some point start getting aggressive with his bet size and increasing risk. Yet YOU have not done this. So not only do you defy all probability, you are completely immune to the biases that would afflict pretty much every single trader on t2w.
And the chances of these both being true really is zero.
Ok.
meanreversion
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IN ADDITION, despite making these incredible returns, your account size never grows. Thus, your simply amazing trading coincidentally precisely matches your outgoings, week after week after week.
Maybe you dont know many traders here, or, maybe as each trader here i started my trading career loosing before learning how to win, but i understood how easy it can be to loose.
Have you heard about trading psichology?, well when you know the most you can loose is 2 - 5 k you can dare to take some risks, but when you risk 100 k then you start overprotecting your trades, at that point you will loose your skills because you will be affraid to loose that amount.
And i also understand probability and statistics are not your field, its ok to say "i dont know".
I am perfectly aware that at some time i can loose or have a down week, it has not happened yet.
Pazienza
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I would say he's the best trader in the world. Isn't it impossible to wipe our your balance with 30 trades a week on 0.3% risk? 30 x 0.3% = 9%? You would have thought in those 52 weeks he might have thought. Let's compound this. Why doesn't he trade two accounts? One where he takes our money every month and another where he compounds every month.
I don't recommend using FXCM by the way. Their spreads are terrible at certain times of the day and their price often spikes and they have no number to call. Also i know the bank and the guy who provides them with liquidity, which they hedge all their trades with. They only hedge with one bank which means there is more often bad prices or outtages.
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meanreversion
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No, statistics is not my strong suit, I only took it at university and gained a first. Presumanbly you have a PhD?
Please explain to me the odds of a trader with a very small account making money 52 weeks in a row, and every week his profits equal his expenses?
Pazienza
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Who said my income equal my expenses?, did i mentioned that?. i dont remember.
But assuming you are not refering to me, that guy is statiscally dead, simply he doesnt know it yet.
brettus..., those are simply variants, what matters here is not what i can or can not make, what matters is what anyone can do.
It is an accepted standard for a for a good experinced trader to make 80% profitable trades, so with these 80% he can pay the 20%´s looses and still win, what is the problem with that?, that i understood that to accept 20% loosing trades could at some time erase my profit?, that i decided to look for a method to minimize that 20%?, that i did it?, that not being happy assuming a statisticall 7% looses i still tried to make up something to correct the situation when it showed up?, that i am making it?, that i avoid the generally accepted standards because i really want to make money instead wasting my time with illusions?, how many times you think i found myself winning a lot one month just to be sad the fifth week because i made a mistake or a bad trade and i lost each penny i won?, and how you think i felt?, i am not an average man, i do not accept averages, i worked for something, stop it.
Weather you like it or not i win, i have a winning strategy, you want to have one?, work for it, to envy other people is not the way to make anything, work for what you want.
If you reccomend or not FXCM its not my bussines, i preffer to work with them because i have not seen a trading platform like them, i have used it for many years, i dont like MT4 or MT5 i like that, if they charge me with 2.5 pips instead 2 or 1.7, who cares?, with 30 trades a week its not expensive because i use the plattform i like to work with.
stop it.
Ok. I will stop it. Just let me know how you get on in 3 months time.
You can ask me anytime you want, i´ll tell you even if i loose.
and for your information each week is an independent event, so the result of one week does not imply the expected result of the next one.
DionysusToast
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Correct - and this makes you a fool. As is anyone else that does not see through the nonsense on this thread.
As I mentioned before - you can check the end of every rainbow in case there's a pot of gold there but the more savvy understand there are no pots of gold.
Any negative opinions you have about me, I consider a compliment considering the above.
HowardCohodas
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I admit to being a fool when I initially took you for a serious person. Now arguing with you is just for fun.
The best part of watching your posts is you so often fail to check your facts. I point them out and you go dark for a couple of pages in hopes that readers will forget that I caught you again. No worries on my part because I can depend on you offending again.
I'm sure schadenfreude is a failing of mine, but I just can't help myself.
DionysusToast
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Aaaah, the irony.
Indeed it is true, when I or anyone else confronts Howard with an astute analysis of the facts OR a difficult question, we do indeed see many pages of your blustering avoidance speeches. It does however remain somewhat of a mystery why you would point this out yourself. I freely admit to having pages of your waffle between my posts.
The latest epic was your attempts to convince everyone you had performed a meaningful backtest, when in fact you don't even seem to know what such an exercise would entail.
As for your 'agnostic' stance of fayalacs system. It is flawed in many of the same ways that your own is. Whether this is deceit or delusion remains to be seen.
Your failing to understand why this .3% risk per trade 60% return per week system is bogus is also the reason you failed to convince anyone that your own bogus system is valid. You simply have too narrow an understanding of the subject matter.
As for catching me out. You have accused me of not being clear of where I am from because of a graphic next to my name. You can keep doing this if it tickles you. If you are really interested, you could simply ask where I am from.I can answer a in less that 10,000 words unlike your ovely verbose self.
Indeed it is true, when I or anyone else confronts Howard with an astute analysis of the facts OR a difficult question, we do indeed see many pages of your blustering avoidance speeches. It does however remain somewhat of a mystery why you would point this out yourself. I freely admit to having pages of your waffle between my posts.
The latest epic was your attempts to convince everyone you had performed a meaningful backtest, when in fact you don't even seem to know what such an exercise would entail.
As for your 'agnostic' stance of fayalacs system. It is flawed in many of the same ways that your own is. Whether this is deceit or delusion remains to be seen.
Your failing to understand why this .3% risk per trade 60% return per week system is bogus is also the reason you failed to convince anyone that your own bogus system is valid. You simply have too narrow an understanding of the subject matter.
As for catching me out. You have accused me of not being clear of where I am from because of a graphic next to my name. You can keep doing this if it tickles you. If you are really interested, you could simply ask where I am from.I can answer a in less that 10,000 words unlike your ovely verbose self.
DionysusToast
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Has to be said too - isn't the irony of Fayalac being Mexican and using Spanish stops rather delicious?
In fact, it's a bit too good. I'm thinking the whole thing is a wind-up.
In fact, it's a bit too good. I'm thinking the whole thing is a wind-up.