How I trade forex and make a profit.

Best is post a trade LIVE (properly. Not 'Mofo' style) and then provide the broker screenshot
 
kimo'sabby said:
kimo'sabby said:
I post live in some threads when i have the time


Surely this contradicts your initial argument though? What's the point? Especially when one considers the two ES trades that you've decided to highlight, with no attached risk or trade management values. I personally have a neutral, or unbiased view of all this, but the idea of continuity doesn't seem like it's high on the agenda here.
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Yes my live trades are meaningless here , i only highlighted the 3 trades just in response to ffsear that i don't post any trading activity here , its not to brag or prove anything i am with you on this , and i do post with MM , i follow up on the trade if i closed it at BE or at a loss as well .
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SlowlyButSurely said:
@TraderAllen,

Hi, I see you are using the 70tick chart and from some of the techniques you use I recognised similar things from the book/method Forex price action scalping. Have you read this book in the past and taken inspiration from it?

Cheers.
Click to expand...

Yes Bob Volman's book is a big part of what has transformed my trading from a break even trader to a profitable one. See this video and check out all the information I have on here and my Web site(its my on line trading journal not a site for selling things) wallstreet2easystreet.com http://youtu.be/fjrxfbOTbiw
 
Traderallen said:
DionysusToast ,Your critic of my videos are duly noted. And I always try to improve them. Keep in mind I am not a professional video maker by any means. I think you still got the point of how I trade so when I talk about my trading on here you'll have a good Idea of what I am trying to say. the only way I can show you its a live account is to display my account number and as you know that's a bad idea. As far as I know Ninjatrader does not say "live account" anywhere. If you ever watch some of my past videos you'll see me make lite of this fact as I have in the past made great spur of the moment trades and not realize till it over that I forget to switch to a live account (ninja defaults to sim.) I now color code my chart trader for a visual reference.
Click to expand...

Ninja colors live & sim accounts differently on chart trader & the DOM. So you could show either & cover your account number...

Anyway - your site is called "wallstreet2easystreet.com".

Can I ask if you really think that trading is "Easy Street"?

And also - as you are plugging your site here, can you share with us what the services and products you plan to sell there are and the prices?

Just for the sake of full disclosure & all...
 
tar said:
kimo'sabby said:
Yes my live trades are meaningless here , i only highlighted the 3 trades just in response to ffsear that i don't post any trading activity here , its not to brag or prove anything i am with you on this , and i do post with MM , i follow up on the trade if i closed it at BE or at a loss as well .
Click to expand...


I don't understand why you feel it's necessary to discount your ability to 'prove anything', nevertheless, I think it's only fair that we allow the OP some breathing space.
Click to expand...
 
Traderallen said:
Yes Bob Volman's book is a big part of what has transformed my trading from a break even trader to a profitable one. See this video and check out all the information I have on here and my Web site(its my on line trading journal not a site for selling things) wallstreet2easystreet.com http://youtu.be/fjrxfbOTbiw
Click to expand...

Could you plug your site a bit more - there's a guy in Outer Mongolia didn't get it yet....


wallstreet2easystreet.com
 
:LOL::LOL::LOL:
 

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DionysusToast said:
Ninja colors live & sim accounts differently on chart trader & the DOM. So you could show either & cover your account number...

Anyway - your site is called "wallstreet2easystreet.com".

Can I ask if you really think that trading is "Easy Street"?

And also - as you are plugging your site here, can you share with us what the services and products you plan to sell there are and the prices?

Just for the sake of full disclosure & all...
Click to expand...

I can tell you trading beats go to work 6 days a week fixing broken robots. Although I am not at the level of full time trader. As I have said many time the purpose of the website is to Journal where all can see. This way I don't have to answer the same questions over and over. just go there read what I do and how I do it then ask questions I may have not already answered. I used a blog for awhile but to much information gets lost in a blog.
 
DowJones said:
He isn't selling anything - what's your problem?
Click to expand...

PMSL.....

Of course he is selling something.

People don't just buy domain names, create web sites, then go to internet forums plugging their sites unless they are selling something... :rolleyes:
 
Forexmospherian said:
Hi Guys

First of all - glad you are back Trader Allen and i wish you well with your scalping

A couple of quick questions - you mention you are on the 8th trade of the month and up approx 106 pips - with no losing trades. Well done - but might that suggest your average trade win in under 13 pips - and if your stop is say on average 5 pips ( including spread) then your average RR might be just over 2.

As a scalper and intraday trader on purely FX - I am on my 92nd trade of the month with 22 losing trades of approx 1 to 6 pips - so maybe atm only just over 75% win ratio- but with well over 600 pips - as I leave many trades running with stops already in profits - and so there is an element of double counting with 70% stake trades counted as one set of pips and then the 30% stakes as further pips.

This maybe shows that many of the comments from the other members are correct - win ratios alone are just part of the equation - and whilst important not paramount on their own.

My own RR ratio average is well under 2 - even though i do have some great RR's on some of my 30% stake trades - ie over 10 and 20 already this month - but RR pip ratio can be different to RR money.

With regards to focus and concentration - I agree with you - for scalping its extra importance - but like anything in life - generally the more you do it - and more you multi task - the better you get at handling the pressure and stress. I would not have a clue how to make a video of one of my trades - but have for the last 2 -3 yrs been able to type and blog whilst sticking on 4 -10 lots a pip on many scalps with 5 pip stops.

I have actually found blogging as made me focus more and increased my awareness - and stopped me being idle at times - ie up say 38 pips in first 2 hrs of the morning - and then thinking - i will take the rest of the day off - and not look at learning more and catching more pips - but go for a long walk with the dog.

With regards to many of the other comments on this thread - i for one have been hounded by Tar - but actually agree with so many things he says and comments on.

I know for a fact - even with out meeting the guy that Dow Jones can trade and make consistent money - purely by the way hes does it and the fact that he is so red hot on risk and keeping his losses as small as possible

Certain methods will stay profitable for many years - I am still doing what I did 7 years ago - but I have far improved my performance - simply because I went full time and learnt more from live charts - not just books and theory. However as we know and as Tar has quite rightly mentioned - you do really need thousands of trades to get a proper take on how good a method is. I know for long term traders taking less than 8 trades a months - it's difficult - as they can have 2 years of good results and then 6 months can wipe their profits out - unless they have extremely good MM.

If you are happy Trader Allen with say 15 -25 trades a month and making say 180 -250 pips a month - and you can keep that going over the next 12 months - then extremely well done. 150 - 200 pips a month does not seem a lot but if you can keep a high win ratio - ie over 80% and small stops - you will have the confidence to sticking larger stakes on and then 200 pips in a month could be $10- 20K a month.

Unfortunately you will have the odd "Black Swan" event - when you do have 7 trades lose in a row - or even worse 15 consecutive losses and you will do your head in. Whether it happens just once a year - or twice in a quarter - it will take place as that' how the markets work - nothing is certain and change is continual.

Plan for the worse - but stay positive and focused - knowing you are not alone and there are always other traders who might be able to assist

All the best


Regards


F
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Thanks for all the words of encouragement. I am not at the level as you and other traders are yet so I always like to hear from those with more knowledge. I have not made it to the one year mark trading my plan, but I am happy with my results so far as each month my account goes up and not down. My low number of trades per month are due in part that I only trade about and hour and half each day. I am currently work on adjusting my schedule to add trading time from 3 to 5 am New York Time. any information about trading during this time would be appreciated. Thanks again, Allen
 
DionysusToast said:
PMSL.....

Of course he is selling something.

People don't just buy domain names, create web sites, then go to internet forums plugging their sites unless they are selling something... :rolleyes:
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Refer back to post #97. May be if you ever said something that lots of people want to hear you would understand. ;)
 
hey TA

you will spend the first few weeks/months at T2Win like this so dig in .........
 
Traderallen said:
Thanks for all the words of encouragement. I am not at the level as you and other traders are yet so I always like to hear from those with more knowledge. I have not made it to the one year mark trading my plan, but I am happy with my results so far as each month my account goes up and not down. My low number of trades per month are due in part that I only trade about and hour and half each day. I am currently work on adjusting my schedule to add trading time from 3 to 5 am New York Time. any information about trading during this time would be appreciated. Thanks again, Allen
Click to expand...

You've made a friend of F for life! :D. You guys, certainly, know how to butter each other up.
 
This video summarizes the last 10 pages , amazing i wish i had the last few hours of my life back :LOL:

 
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DowJones said:
OK, if you say so...
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"I AM CURRENTLY LOOKING FOR NEW ADVERTISERS AND HAVE PLENTY OF ROOM FOR BANNER ADS IF YOU WOULD LIKE TO ADVERTISE ON MY WEBSITE PLESE FEEL FREE TO CONTACT ME"

http://www.wallstreet2easystreet.com/advertisers.html

so he is selling smthg? let me guess, that isnt all hes selling.

hats donned though, nice bit of promo work by the t2w staff & mods - first busy thread in a long long time i guess? btw how does t2w price its advertising space...click traffic vol also? (so far DJ is the only one with the ad hominem attacks in this thread)

TA admits hes only been trading for mths & this is the quality of his education.....

check this vid....
http://www.youtube.com/watch?v=ZQ0X77BYefc&feature=youtu.be
...he is using DTs profit s/s to show how risking 10% is bad - saying that 3rd trade is a loser when there is a "Win or Lose = 1", wtf? So hes unable to re jig that s/s to show a loss @ 3rd trade?????? At least remove DTs comments ffs.....if only DT had stuck his logo on their - 3 lots of advertising bundled into one thread.

Some choice quotes from that vid:

"i will show you exactly what its like in real life trying to trade a plan like this" as he hypothetically moves down DTs s/s, changing wins to losses.

"the broker screwed us the broker screwed us" on that 3rd trade loss.

haha, keep it rolling this is f funny. t2w is dead, long live t2w.
 
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