Anyone Trading For A Living?

with the advent of auto trading services like fxstat, fxjunction, currensee, etc. there's really no reason for anyone to go with these 'managed forex funds'. First of all you are completely subjected to the manager's risk management, meaning if they take horrible risks, you can't do anything about it. At least with auto trading, you can specify your own risk parameters at will and even alter the stop loss/TP in real time too.

Yeah, everyone is free to ruin his own accounts 😉

TPOTrader posted:
with the advent of auto trading services like fxstat, fxjunction, currensee, etc. there's really no reason for anyone to go with these 'managed forex funds'. First of all you are completely subjected to the manager's risk management, meaning if they take horrible risks, you can't do anything about it. At least with auto trading, you can specify your own risk parameters at will and even alter the stop loss/TP in real time too.

Chikot posted:
Yeah, everyone is free to ruin his own accounts 😉

TPOTrader posted:
with the advent of auto trading services like fxstat, fxjunction, currensee, etc. there's really no reason for anyone to go with these 'managed forex funds'. First of all you are completely subjected to the manager's risk management, meaning if they take horrible risks, you can't do anything about it. At least with auto trading, you can specify your own risk parameters at will and even alter the stop loss/TP in real time too.

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True, If/When I lose, It's me. And I don't have a set risk frame. It's all based on the setup. I trade short periods though most of the time. I also know that if you take a little break away from the screens, you perform better, at least I do. I missed a lot of in and outs on the aud/usd today, but there will be others. I'm raising my 5-7% per month goal to 10%, and move on up..we'll see if I can pull it off..

i still prefer learn it and trade it yourself. only you know what is the best for yourself. dont be greedy. if it sound too good to be true, it's probably is.

@ TPOTrader:

you are compare 2 different things. one is you still have to work in trade copier (even in direct copier mode to broker you will still somehow 'manage' you ownaccount ), and one is your money work for you, even if you want to close the trade or take profit earlier you can not.

1. In trade copier if your account burn it mean either your chose the wrong account manager and/or you intervene too deep and then kill the tactic of your good account manager.
2. In account manage if you account burn it mean you chose the wrong account manager.

So basically is the SKILL to chose the right account manager, this is your call as all account manager will say they are the best.

My suggestion is just chose a account manager that he trade his own money, prove you a live account that long live more than at least 6 months to a year. Never trust anyone who gave you a demo show that winning 300% a month, that demo account most probably will be deleted next month.

I used to provide trade copier to any brokers ( we developed our self trade copier platform ) however I found it is must more benefit to clients if they open under my MAM and leave everything to me rather than use his own emotion and jump in to intervene like take profit earlier or trade with bigger lot size, trade copier also taking the risk that internet problem, or requotes , or wahterver the reason that the trade are happen in mother account but not in your account, simple you can say : the trade copier does not work.. using MAM also sharing same data quotes, so my trade and clients trade are exactly the same. Nowadays I only provide trade copier on my VPS in case the client really want to keep their broker for a very good reason like they having % in broker company and so on.

To add to the post above. It isn't so much having a long lasting account. I think it is more about protecting profit. Say you deposit 2,500 into an account. In which your fund manager is avg 50% a month. The reality is a good manager will have you withdraw your profits to ensure commission for himself, and profit for you. No profit can be sustained in forex for a long period of time. He who is trying to turn 2,500 into 25k, won't do so without withdrawing often.

 This way when you do hit a rough patch. You would of protected profit, and be able to re-deposit your winnings. Instead of having the mentally of trying to get back what you've just lost. Trading not to lose, compared to trading to win are two very different forms of thinking. Many people have earned 1000% profit in a matter of days. Yet by simply withdrawing that profit. They can bet every penny that no one can out preform them.

Hi Guys,

Just come back to the old thread but interesting here to update about last 2012 and welcome you guy to 2013, here is achievement of myfxpedia

https://www.myfxpedia.com/forum/showthread.php?230-Wall-Of-Fame&p=2244#post2244

Sincerely, I agree with AmberrLynn, people are fast criticizing my system that has gain 49% in 3 months with only 2,93% of real DD, but no one of them have a system that last longer of 10-12 months without looses.

I have one: https://www.myfxbook.com/members/fxsecure/conservativeperfect-fxmac/395216 it has real DD 21,89% and almost 100% of profits in 11 month...with no a sigle month of looses.

My clients are happy, no one has have any looses. And the system High scalping when loos it does little and when win it do it very good...I know it's young yet...but you'll never see a big loos...and who ever says that it's martingale...please don't listen he or she don't know my tecnique it's much more complex..very complex!!

Any way critics are good, but please don't said durt, send light. In order to improve...I share somethig that promes..but I do have realities to show with 11 monts and almos 100%. Who else of the critc guys has it?

I didn't see any good result in their profiles...Man, before criticie others look at your systems....thnks anyway...I consider all the critics

Well said forexconsulting. What I have found is most people are looking for consistent growth. Yet in no way does that exist. No one can WIN or LOSE consistently. Look at the last month. Everyone who has been short bias has gotten hammered.r Most people lost 6 months of winning trades with just 3 weeks of trading. Your recovery factor is very important in forex. Risk and reward is an over used term which should have no bearing on your entry. Only because it is an expectation of what your exit and sl will be. Yet so many things can change it over night, that makes no sense in measuring it. As traders ours bias is what gets in the way of profit. In forex you need to go with the hot hand! Who ever is pulling off good trades, stick with him/her until he/she gets cold.

Check these stats out.. :)
https://www.myfxbook.com/community/trading-systems/scalperz/461000,1

Track my account. I totally disagree with amberlynn. Sorry mate but you think like a novice. No way you would become a billionaire if you have that 'kind' of mentality.
I had 31% drawdown and now i have reduced my risk by 16%. I am still learning eventhough i am an experienced trader :)

LOL, one day people looking for consistent growth will wake up to see accounts gone. By this I mean traders who average their losses into winners or be, not guys who make $ consistently. However it is impossible to do this without losses and losing periods happen.
Consistent profits gained form refusal to take losses is one way road eventually. Market simply goes into range prices come back and people forget that prices might start moving without coming back, then trend resumes and bum! Marge is calling.

Chikot posted:
LOL, one day people looking for consistent growth will wake up to see accounts gone. By this I mean traders who average their losses into winners or be, not guys who make $ consistently. However it is impossible to do this without losses and losing periods happen.
Consistent profits gained form refusal to take losses is one way road eventually. Market simply goes into range prices come back and people forget that prices might start moving without coming back, then trend resumes and bum! Marge is calling.

Don't judge a book by its cover 😈

Man, I am actually responding to same guys you were talking too 😉
But I will stand by my words. i have seen guys making seemingly consistent and large profits this way with barely or no losses and all they destroyed their account eventually. It is just a matter of time. when not if.

supertrader91 posted:

Chikot posted:
LOL, one day people looking for consistent growth will wake up to see accounts gone. By this I mean traders who average their losses into winners or be, not guys who make $ consistently. However it is impossible to do this without losses and losing periods happen.
Consistent profits gained form refusal to take losses is one way road eventually. Market simply goes into range prices come back and people forget that prices might start moving without coming back, then trend resumes and bum! Marge is calling.

Don't judge a book by its cover 😈

Chikot posted:
LOL, one day people looking for consistent growth will wake up to see accounts gone. By this I mean traders who average their losses into winners or be, not guys who make $ consistently. However it is impossible to do this without losses and losing periods happen.
Consistent profits gained form refusal to take losses is one way road eventually. Market simply goes into range prices come back and people forget that prices might start moving without coming back, then trend resumes and bum! Marge is calling.

Owh haha.... 😂

I will 😝

supertrader91 posted:

Chikot posted:
LOL, one day people looking for consistent growth will wake up to see accounts gone. By this I mean traders who average their losses into winners or be, not guys who make $ consistently. However it is impossible to do this without losses and losing periods happen.
Consistent profits gained form refusal to take losses is one way road eventually. Market simply goes into range prices come back and people forget that prices might start moving without coming back, then trend resumes and bum! Marge is calling.

Owh haha.... 😂

That can and does happen I'm sure. But experienced traders don't let that happen. One reason I chose to trade short term. i may not make 400 pips on a long wave, but I can make a good profit % return now that I stay with my system, and glued to the screen. Even with stops/limits, I don't feel good about leaving a trade on for long periods. One way to avoid that is scale in your stops so that if it does turn on you, you're guaranteed some profit, even if it's very little, better than any loss...just my opinion...

It happened to much better traders than you and me... I mean those who let losses run will get caught period. No other way around it.
My trades run most of the time without me watching. However form my experience price tends to come to stops very often. i mean BE stops.
Markets are hard to trade my style now so I am adjusting a bit.

CESTRADES posted:

supertrader91 posted:

Chikot posted:
LOL, one day people looking for consistent growth will wake up to see accounts gone. By this I mean traders who average their losses into winners or be, not guys who make $ consistently. However it is impossible to do this without losses and losing periods happen.
Consistent profits gained form refusal to take losses is one way road eventually. Market simply goes into range prices come back and people forget that prices might start moving without coming back, then trend resumes and bum! Marge is calling.

Owh haha.... 😂

That can and does happen I'm sure. But experienced traders don't let that happen. One reason I chose to trade short term. i may not make 400 pips on a long wave, but I can make a good profit % return now that I stay with my system, and glued to the screen. Even with stops/limits, I don't feel good about leaving a trade on for long periods. One way to avoid that is scale in your stops so that if it does turn on you, you're guaranteed some profit, even if it's very little, better than any loss...just my opinion...

What I can say is HARD to trade for leaving.
The biggest problem is that profit is not consistent.
Traders ussually change thier mind/stratergies either they win or loss. So do I.

Good luck everyone!