Why Top Retail traders V Commercial Traders

[Liquid validity]

I suppose I don't really want to provide a "trade alert" service via my thread.

The example you have given is a very valid one - as I have not confirmed i took the scalp sell under 3690 and then I did not confirm whether I would be holding it for a lower price or not.

Close followers of my thread would have seen that at 7.51 am this morning UK time we had a LH at 36895 and I actually entered at 36882.

Over my 3000+ post - i have mentioned time windows several hundreds or might even be a 1000 times and so a few of my followers here would know exactly what I was doing ;-)

Anyone new - i agree would not know - unless they had taken time to go back over the 6 -7 weeks to understand my methodology and also the fact that if I cannot take a trades with a stop under 7 pips - ideally 5 pips or less - I will not take it.

Fair enough, thats why I suggested creating a template for the text of a call
and having it ready in a new reply window.
Add the last 3 digits and submit.
It really would solve a lot of the issues.
Otherwise, highlight the point that they aren't strictly live.

Alternatively, if you don't want to end up as a trade alert, perhaps adding a
short concise explanation of why your calls aren't live to your signature would
solve the problem.
You could even include a link to a more in depth post on this forum
explaining those points in detail
That way, everything is clear, and it would put an end to the flak you get.

I have noticed your advance levels observations, and they aren't bad which is why
I've altered my approach to you 🙂

 

[Forexmospherian]

Thank You LV

Also thanks for this link -http://www.trade2win.com/boards/first-steps/120412-55000-one-month.html

Not seen or read about that guy before - will see if I can find out more about him and his methods

Cheers

F

 

[Liquid validity]

Also thanks for this link -http://www.trade2win.com/boards/first-steps/120412-55000-one-month.html

Not seen or read about that guy before - will see if I can find out more about him and his methods

http://www.trade2win.com/boards/first-steps/120412-55000-one-month-34.html#post2247982

Tracked down missing screenshots.
Don't know much else.

 

[Forexmospherian]

i'm not questioning the validity of F's calls ..............sure i was sceptical early on as we all are .....and I challenge anyone to call them live whilst having to keep their head in the zone

i cant do it ........unless I could perhaps be posting using some dictaphone conversion style software that posted what i was talking ........(minus the curses ?)

i'm just interested in the discussions as I am going to take the xmas break to decide if I finally go pro next year.....I have redundancy looming and may well finally decide to do something that I have had a lifetime passion for and finally not have corporate faceless bosses......

you only get 1 life ...........and I figure better to have tried than looked back at not trying it ........

N

Hi N

I had a similar dilemma at the age of 53. I had retired and sold shares in my main business at the age of 48 and thought with the help of a couple of pension funds - i was set up for life . I had 3 other smaller businesses that ticked over and provided an income but needed a new challenge and i knew I would need further income with 2 kids at private school and quite a few years before I would get my main pension.

I had played with forex trading with various levels of success and even in year five - I really did not know if I could make a decent go of it.

After years of doing 50 - 70 hrs working weeks I was used to hard work - but really wanted more freedom and less work travel - but more family time.

i was not going to look at anything under £50 per hour and did not want to invest £50 or £100k in other businesses - especially with the recession already at that time showings its ugly head.

I was then another 2 yrs full time before I finally felt it was coming together and I had found a way that suited me and i was becoming more consistent.

I hit my "psychological financial wall" at approx 22 lots and then with an account over $200k from originally under half that.

I knew then there was no chance for me to keep compounding up to half a million plus and to be trading on 50 lots etc - I just did not want palpitations, major stress and trying to deal with my own sensible accountancy head saying - what re you effing doing? ;-))

So I even went back down to under 2 lots to feel comfortable again and since then never been back over £100 per pip .

Saying that even on 6 lots and just 500 pips per month that generates over £18k per month - more than I ever had earned in business career

My business head said micromanage 500 pips a month target - so 20 trading days that' just 25 pips per day. So averaged on just 17 days a month and my first full time targets were 30 pips a day.

Since then I am up to a notional 50 pips a day - my target or line in the sand.

Good days - I trounce it - bad days with say 3- 5 losses before Midday and then I have to work hard and do more trades though out the day to get there.

If you are disciplined and can read PA at the coalface - you will not have 10 or 15 bad trades in a row ( 7 is my worst ) but many times have more than 15 consecutive wins

I am sure NVP you are used to dealing with losing - we have to accept it - but then Money management became my new faith and God ;-)

I will be around - I hope for at least 2- 5 more years looking for positive pips - always welcome sharing and discussing how we can make them.

So - You go for it !!!!

Regards

F

 

[NVP]

I have noticed your advance levels observations, and they aren't bad which is why
I've altered my approach to you 🙂

yep........I think hes scrubbing up pretty well now as well ....good for him and good for T2W .......we need good traders being active in the threads . 😎

N

 

[NVP]

Hi N

I had a similar dilemma at the age of 53. I had retired and sold shares in my main business at the age of 48 and thought with the help of a couple of pension funds - i was set up for life . I had 3 other smaller businesses that ticked over and provided an income but needed a new challenge and i knew I would need further income with 2 kids at private school and quite a few years before I would get my main pension.

I had played with forex trading with various levels of success and even in year five - I really did not know if I could make a decent go of it.

After years of doing 50 - 70 hrs working weeks I was used to hard work - but really wanted more freedom and less work travel - but more family time.

i was not going to look at anything under £50 per hour and did not want to invest £50 or £100k in other businesses - especially with the recession already at that time showings its ugly head.

I was then another 2 yrs full time before I finally felt it was coming together and I had found a way that suited me and i was becoming more consistent.

I hit my "psychological financial wall" at approx 22 lots and then with an account over $200k from originally under half that.

I knew then there was no chance for me to keep compounding up to half a million plus and to be trading on 50 lots etc - I just did not want palpitations, major stress and trying to deal with my own sensible accountancy head saying - what re you effing doing? ;-))

So I even went back down to under 2 lots to feel comfortable again and since then never been back over £100 per pip .

Saying that even on 6 lots and just 500 pips per month that generates over £18k per month - more than I ever had earned in business career

My business head said micromanage 500 pips a month target - so 20 trading days that' just 25 pips per day. So averaged on just 17 days a month and my first full time targets were 30 pips a day.

Since then I am up to a notional 50 pips a day - my target or line in the sand.

Good days - I trounce it - bad days with say 3- 5 losses before Midday and then I have to work hard and do more trades though out the day to get there.

If you are disciplined and can read PA at the coalface - you will not have 10 or 15 bad trades in a row ( 7 is my worst ) but many times have more than 15 consecutive wins

I am sure NVP you are used to dealing with losing - we have to accept it - but then Money management became my new faith and God ;-)

I will be around - I hope for at least 2- 5 more years looking for positive pips - always welcome sharing and discussing how we can make them.

So - You go for it !!!!

Regards

F

Thanks F

thats all very interesting stuff .........thanks !

for me 2014 is it ........no more excuses.......plenty of prep to get the home office setups / kit togeher, finally leave work and then I will go to microlots/small stakes around july 14 time and then settle in to the REAL apprenticeship period ..........

shake out the creases on things and finally get down to learning how to get up EVERYDAY and trade...........it wont be the money at first just execution, discipline and getting the pip rate up

never been so excited/scared since I stepped on a plane back in the 80's with a backpack a few quid and travelled the world for 2-3 years

for me the money is important ...........but in truth I just want to be good........ .really good at something..........that is what makes me passionate about trading .........being truly Excellent

N

 

[Forexmospherian]

Attached Iron FX live account traders with accounts verified by Ernst & Young in 2012

I do have the all the trades of some of the competitors - just need to find them - always good to see what type of trader they are and also to see their timing methods etc

I have also found some more Info on the trader who did 55000% increase in month

From one of his live accounts hes used back in 2010 he was averaging approx 73% win ratio - but it was just down to the amount of trades he was doing that got him such a high result. His broker must have loved him from all the spreads / commissions he was giving them - but he still seemed to make money out of it ;-)

When I find more of interest - I will post it

 

[NVP]

interesting........

 

[Forexmospherian]

Its Boxing Day - and I am having a rest in between eating, drinking, visiting, party gaming, shopping, dog walking and watching footie on the TV

Noticed the GU and GJ both very tradable today - but promised myself I would ignore the charts until at least tomorrow🙂

Lets talk about how to achieve 30 -50% increases in your Forex trading account every month instead.

Its certainly on if you are starting off with your capital under $10k. At some time after 3 or 6 or even 12 months if you are smaller accounts - you will more than likely hit your "psychological financial wall" which might be at anything from just 5 lots up to even 30 lots per pip.

This is when you start worrying about having single losses over $500 or even $2000 and you start to value the size of your capital account above any dream of compounding all the way up to $1 million plus.

Nobody ever told me about this - yes heard all about dealing with losses - but nothing negative about the problem of compounding can have on you and your mind ( Why would the Industry ever say anything about that - I mean it's like telling a 5 or 6 yr old child there is no Father Christmas ;-) )

In my own case i stopped compounding and withdrew the monies so basically only having enough capital at the minimum level I needed to to trade on the lot sizes I am comfortable with - but everyone different so if you can stay compounding - go for it - and you will not need another 2 years to get to the big monies ;-)

So what method do you need to achieve 30 -50% increase every month ?

Its easy really- its the opposite to everything the trade and industry say ;-)

ie - My own general rules -

1. Multi trading every day - at least 5 trades a day - not convinced you need 25 - 50 or more trades a day even if you are scalping, but it is a number game - and winning trades count.

2. Small tight stops - ideally 3-5 pips - maximum 10 pips - anything over 10 pips - then you are not really good enough yet - get back to the drawing board and spend another 1000 live hrs watching small frame charts. Yes nothing wrong with 4 hr and daily charts - but they might give you the map - but they don't give you 5 -10 pip stop losses. If you are wrong on entry - you need to know ASAP - don't waste time in negative pips - get out ;-)

3. You do not need to use over 2% of your capital on every trade. I recommend 1% or less on larger accounts - so that you can have 2 or 3 trades on at the same time.

4. Short trade duration from initial trade entry - ie trades that last under 30 mins ideally - so that you can bank 7 -25 pips and then leave part stake on with stop in profit and hopefully forget until you have 50 -100 pips in the bag - whether that's in 2 hrs or 10 hrs - it does not matter - it's risk free and you can still focus on new trades.

5.Monitor at least 3+ forex pairs - yes major on one - but don't ignore all the rest. Sometimes its possible to take "copy scalps on 2 or 3 pairs and normally one pair will do up to twice the pips as the most popular EU - in the same period of under 15 or 30 mins

6. Pace yourself - aim for 4 -5% growth per day. If you are really good and do 20 days plus in the month - you will overachieve. However if you have a few bad days - and only get 1% or even lose 3% and are not prepared to work your butt off back into profit that session - then you need your 5% daily target to even the days out.

7. Micro manage - split every session into 30 min slots - don't worry if you don't get a trade every 30 mins - but if you cannot find one in 2 hrs - back to the drawing board - and learn and study again

8. Targets need to be with RR's over 2 ideally - ie 10+ pips - 15 to 25 pips - brilliant you only need a couple of RR's over 3 a day and you are in the money and then when you get a RR of 5+ brilliant - ie 30 -40 pips - On 3 pairs - at least 9 trades there with RR's over 4 or 5.

9. Losses - 1 to 3 per day - no problem - but remember if your stops size is 7 pips - don't lose 21 pips on 3 bad trades - get out even at minus 3 or 5. You are still better off than waiting to be stopped out. If you are losing 4 -6 trades a day with stop sizes under 10 pips - back to drawing board - you are not there yet ;-(

10.Win ratios - For me you need over 65% win ratios - According to many fund managers 55-60% is supposed to be top class. That's another myth I laugh at ;-)

It might be if you are fortune telling - but when you trade in the "now" - then 70 -85% is on most of the time The market is dynamic - you need to be - fixed target rules are a no no - take more or slightly less - go with the flows and always reenter if there is more than another 7 pips available.

See - its sounds easy - but it's not.

Its like saying - I can juggle with 3 balls and nearly there with 4 balls - bit i need to juggle 7 balls - will I do it in another month ???

It's taken me years and years with 1000's of trades - but I had to find it all out myself.

Any one with the basics and say 18 months behind them should be able to get there within another 12 months - as long as they do the work and are committed.

Hope that helps retail forex traders

All question welcome on why those are my guidelines

The other thing is - why you are getting there - don't worry if you only make 15% growth or even 20% growth a month - its still far better than the commercial world with their 35 -50% win ratios and there 3-5% per month methods ;-)

Back to the Turkey ;-) ( that's the food - not my wife lol )

Regards

F

 

[Forexmospherian]

This morning - Friday - 27th December the currency market as seen great movements. We have had dollar weakness through the Asian session which as continued through European Opens resulting in a 180+ rise in EU and now a 140 pip rise on GU and a 170 pip fall on the UChf.

I have been fortunate to be trading this morning - as I got the feeling the "bias" from so many forums and articles was the EU and GU had topped and now the 200 -500 pip retraces or pullbacks would be on.

I should guess most of this as been started by more false sentiment from the large Banks and institutions - trying to get as many bulls out of their buys as possible - getting the bear interested - before the players all buy again.

Yet again a further example of don't believe the industry.

Also - don't allow "bias" to sway your trading. Stay "unbias" for as long as you can - go with the flows - NOT with what is supposed to happen - that's all to try and put you off taking the correct trades

Its important you look at intraday buying and selling everyday - even if you do end up with 80% of your new trades being in one direction.

So many retail traders just wanted to sell the EU under 3700 etc - they were just ready for a rise up to 3893 - In fact I was not thinking that high - I thought maybe just 3840 or 50 for now from early am - check out my link for today from Opens -

http://www.trade2win.com/boards/dis...ing-calls-expert-retail-forex-trader-636.html

Get ready for 2014 - and stop taking advice from commercials etc. Have total faith in your own charts - just set them up correctly - and just don't ignore the small frames ;-))

Regards

F

 

[random12345]

I have noticed your advance levels observations, and they aren't bad which is why
I've altered my approach to you 🙂

LV did you not also notice the reams of bs that has come out of this individual's keyboard, not to mention the classic threat to use SOCA's precursor to take down Pboyles, did that not alter your approach? I.e. "this guy is mental."

We could both write a pivot reversal indicator in less than 10 minutes that highlighted all tf chart levels well, this in itself is not an impressive ability.

As I said earlier in my post, I've never seen an individual brokered for who had an annualised Sharpe ratio of 150+ - never, nor close. What are the odds that the cysec sh!tefest that is FXpro have one over the PBs, who lives in a 4 bed in Tamworth? Eurgh. T2W...

 

[Forexmospherian]

Hi Random

Really "wound you up well" by the look of it.;-)

Why don't you stop talking such rubbish and admit I am good - Is that too difficult for you ;-))

Yet again you seem to talk more BS than you accuse me of - pathetic really - ie -

1. No way did I threaten Mr Pboyles - all you lot made a "mountain over a molehill" - talk about drama queens - more like little lads playing together - so wrong again.

2. I have never lived in a 4 bed House in Tamworth - yet again - wrong info - totally - more rubbish from bad checks of the wrong person - typical of a bad professional I would say ;-)

3. I have said many times - repeat many times - I do not compound - I don't have a Sharpe ratio ( also a waste of time on retail traders) of 150 or 200 - go back to school and learn advanced maths and then you might be able to pull financial ratios apart - like I can ;-) - So wrong again ;-)

4. Its about time you used you brain rather than your mouth to show us all how good you are.

Ie Wasn't you sacked - or just not needed? surplus to requirements maybe ?

What I can deduce though is you are "one sandwich short of a picnic" - something not quite right with you.???

From all your comments to me - you seem to have a real "bad tongue" and attitude problem - shame really

I should please refrain from making any more comments about me - as every one you just get wrong

Please do not embarrass yourself any more - your rating will only drop even further in this trading forum

Have a great new year -

PS - check out how many Porsche's, TVR's and Ferrari's I have owned in the last 20 yrs - yes correct it more than a few ;-))

Regards

Your great friend

Forexmosphere 😆

 

[Liquid validity]

LV did you not also notice the reams of bs that has come out of this individual's keyboard, not to mention the classic threat to use SOCA's precursor to take down Pboyles, did that not alter your approach? I.e. "this guy is mental."

We could both write a pivot reversal indicator in less than 10 minutes that highlighted all tf chart levels well, this in itself is not an impressive ability.

As I said earlier in my post, I've never seen an individual brokered for who had an annualised Sharpe ratio of 150+ - never, nor close. What are the odds that the cysec sh!tefest that is FXpro have one over the PBs, who lives in a 4 bed in Tamworth? Eurgh. T2W...

Yeah I know what you are saying.
I never said I bought into this:
http://www.trade2win.com/boards/for...aders-v-commercial-traders-5.html#post2247894

TBH I cba either way anymore.
Not just this place either, forums in general are just a waste of time.
Used to be a laugh posting here, now its just a chore.
I even renamed my T2W bookmark to time2waste...😆

 

[random12345]

Hi Random

North of M25 = Tamworth my friend, didn't you do Geography O-level? A Sharpe ratio is very simple mathematics and therefore I don't actually need to go back to school in this case, but thanks for the advice, so please feel to tell me what yours actually is to dispel said myth? What's the number? I'm sure you've done your dailies after all, being an expert.

However, in case anyone should believe you never threatened PB, I took a screenshot of it for your viewing pleasure, see attached. xoxo. Seems pretty threat-like to be. No wait, I just looked at the semantic of threat. It IS a threat.

In complete contravention of the community guidelines and you should of course have been banned, but unfortunately T2W needed the ad traffic associated with your banal drivel it seemed and the post was removed. How are your mates at the West Midland Crime Squad btw?

No I wasn't sacked. My 3 & 5 y options vested, LTIP fell within 6 mths notice and I left. Seems like I wasn't too wrong seeing as you basically get neither in any quantity these days. I won't require you to recognise my macro expertise in this move however, since I don't care.

There are no individual ratings on this forum so I don't know what you mean there. You mean thread rating or what?

My attitude problem is only with you, you're a farce and a very childish individual of advanced age (again, see threat to PB and/or your post above or your constant phallically challenged desire to be recognised as an expert/genius trader), which I find too annoying a paradox to ignore.

 

[sonofcablemonster]

Seriously people if you haven't been to Tamworth you need to clear your diary.

http://www.tamworthbreedersclub.co.uk/

 

[Forexmospherian]

HI Random

What I said to PBoyles was not threat - it was just a polite reminder to stay the correct side of the law - ie don't do anything that can be taken to the Courts of Law - like impersonating people on false website designed to damage or harm the credibilty of that person.

Unfortunately, I had read that is exactly what PBolyes had "allegedly" done in the past - and this accusation was made by several people on the Internet. But what you read on the internet can hardly be looked upon as "gospel"

As I am sure you know - libel, defamation of character, slander etc is a civil offence - not normally a criminal offence - but one that the Police need to be informed of for their records and of course to check out the severity of the matter - in case it goes to court.

I do have several friends who have retired from the West Midland Police Force and were part of the infamous serious crime squad.Is that wrong or illegal to have friends who work or worked in the Police Force?

So nothing I said could be looked upon as "threatening"

If i say to you - keep to the speed limit and don't go over 100 mph on the M25 - otherwise the Police might want to have a word with you - is that threatening ??

I am sure you will say yes - as you would want to take it out of context - and ideally want to get me banned from any forum you might be a member of.;-)

When you reply to me with no "bad tongue" - I too can be very civil and polite - and also most importantly even a bit self derogatory - as in real life my "ego" is absolutely nothing like you think it is. In fact I deplore "big heads" - and unfortunately you did certainly come over as one ;-)

Maybe I am totally wrong - ie we all make mistakes

That phrase "expert retail forex trader" - was designed to really get up the back of several members who had given me grief the previous week on another thread here I had commented on.

With regards to individual ratings - well there is or was "the special ones" - and I think all you guys in it do try and "outbig" each other - your multi billion demo account is a classic example.;-)

With regards to being a farce - if you spend 11 year learning to Forex trade and 6 yrs full time - then yes I must be a farce - and the fact that I don't earn half a million plus a year must confirm it.

Sorry I personally give you an "attitude" problem. - but (honestly) saying I am a very childish individual - that takes the "biscuit" coming from you😛

Have a great weekend - I will ;-)

Regards

F

 

[random12345]

HI Random

What I said to PBoyles was not threat
F

It was a threat. You're well aware it was a threat and the language is plain. Hence, I'd imagine, your more gentle tone to me in this most recent reply in order to detract from it.

But there again are you in the UK? we will find out - unless you would like to confirm this yourself.?

That's my favourite part of your non-threat. You were just trying to gather information about defamation for their records after all.

What's your Sharpe ratio?

 

[Forexmospherian]

We will have to differ on the definition of a "threat" - and my speeding quote is a classic example

Sharpe ratios - not my cup of tea - as for forex retail trading I don't really see their value.

For example - i have heard of long term investments with growth over 50 years of a billion + fold ( yes that many) having Sharpe ratios of just over 1. ( yes not even 2 ;-)

So if I actually grow my capital account over 500% per annum - ( but not compound it) then it just seems irrelevant if I say my ratio is 2 or 4 or 5 or 14 or what ever.

Can I grow a quarter of a million or a million pound account over 500% per annum - no way

Can I grow a £100 account over 5000% per annum - yes ;-)

It's amazing how maths is not straight forward ;-)

Regards

F

 

[random12345]

We will have to differ on the definition of a "threat" - and my speeding quote is a classic example

Sharpe ratios - not my cup of tea - as for forex retail trading I don't really see their value.

For example - i have heard of long term investments with growth over 50 years of a billion + fold ( yes that many) having Sharpe ratios of just over 1. ( yes not even 2 ;-)

So if I actually grow my capital account over 500% per annum - ( but not compound it) then it just seems irrelevant if I say my ratio is 2 or 4 or 5 or 14 or what ever.

Can I grow a quarter of a million or a million pound account over 500% per annum - no way

Can I grow a £100 account over 5000% per annum - yes ;-)

It's amazing how maths is not straight forward ;-)

Regards

F

Maths is only not straight forward when you swap a straight answer with vagaries in a strange attempt to appear superior. In this case, it is straightforward. It is used as the primary disqualification test in DDQs when seeding retail partners by AI funds as it is a good measure of risk and volatility in achieving an annual ROR. Anything wacky is discounted early on. Since you claim to be able to produce good returns almost every day with extremely small risk and vol or s/d then I am fascinated to know what yours is, since it will be an unheard of number.

For simplicity's sake. What was your Sharpe ratio for 2013 only using your daily results, annualised?

Mine was 2.49.

 

[NVP]

I must confess that Forexperian has made (imho) a significant impact on T2W over the last few months .............clearly opinions will be mixed across the old school crew...... he is certainly not a shrinking violet ....and is opinionated and passionate about his own particular style and approach that I applaude........without that its not worth trading in the first place and certainly not worth being part of a forum and conributing

I will certainly watch out for F and his threads with interest in 2014 as without such new debate and conjecture T2W will be a boring place

bring it on .........😎
N