WHO trades forex for more than 10 years and keeps making regular profits

togr posted:
It is not strange if you keep trading forex for 10+ years because you are profitable.
Let me rephrase the question, is there anybody trading for 10+ years and still losing money?
I would like to know your motivation:)

tranding like casino


no need motivation to trade ... :)

SNF_Complex posted:

togr posted:
It is not strange if you keep trading forex for 10+ years because you are profitable.
Let me rephrase the question, is there anybody trading for 10+ years and still losing money?
I would like to know your motivation:)

tranding like casino


no need motivation to trade ... :)

so do you trade 10 years and losing money?

SINVEST

I can't agree more to what you are saying.

There maybe so many of them. But consistency here doesn’t imply that a trader doesn't make loss at all. I don’t think there could ever be a trader who hasn’t incurred loss in trading. In an experience of more than 10 years, one can lessen the chances of loss but not eliminate it altogether. So relax and start exploring it.

U are right

Very good comments and advice from all of you. Good money management to reach consistency. Thats the key.

Gowaletasia posted:
I would like to ask if there is a forex trader more than 10 years old and still generate regular profit here ?
I'm sorry to ask this
because I see the portfolio of several forex winners here on other contests they lose a lot, inconsistent
my opinion for long term 100% forex traders must have lost
therefore many brokers give a lot of bonuses
please let me know if my opinion is wrong
😐

I will be a 10 year veteran soon ... 9 years from today.
Algorithm is working and I am just taking money to the Bank.

i have been trading the markets for more than 15years, trading profitably is majorly about money and risk management, most especially you must be properly capitalized. loosing positions is a part of success in trading, however i make sure to end every single month in good profit.

N.B i can trade for anyone for a 20% monthly commission on profit made for you. Simply open an account with any reliable broker of your choice, i suggest pepperstone in Australia. and let get started.

cheers

togr posted:
It is not strange if you keep trading forex for 10+ years because you are profitable.
Let me rephrase the question, is there anybody trading for 10+ years and still losing money?
I would like to know your motivation:)

That would be me! I started October 2008 and I am still struggling to make money.

But my motivation is that forex is the best business there is, and I know it is possible to make a living and retire from forex. Last year, I turned AUD$50,000 into AUD$13,000,000 in two months using high risk on CHFSGD and EURTRY, but on 3 January 2019 I lost 96% because of the Yen Flash Crash. I only withdrew AUD$80,000 for my mother, and I agree that greed was the major factor in my loss: I was earning AUD$100,000 per day and I didn’t want to stop.

Well, at least I can say “been there, done that.”
Though it would be nice to “be there” again... some day maybe...

BluePanther posted:

togr posted:
It is not strange if you keep trading forex for 10+ years because you are profitable.
Let me rephrase the question, is there anybody trading for 10+ years and still losing money?
I would like to know your motivation:)

That would be me! I started October 2008 and I am still struggling to make money.

But my motivation is that forex is the best business there is, and I know it is possible to make a living and retire from forex. Last year, I turned AUD$50,000 into AUD$13,000,000 in two months using high risk on CHFSGD and EURTRY, but on 3 January 2019 I lost 96% because of the Yen Flash Crash. I only withdrew AUD$80,000 for my mother, and I agree that greed was the major factor in my loss: I was earning AUD$100,000 per day and I didn’t want to stop.

Well, at least I can say “been there, done that.”
Though it would be nice to “be there” again... some day maybe...

Impressive
What if you had stopped at that 13 mil AUD? Will you feel the need to continue?

togr posted:
Impressive
What if you had stopped at that 13 mil AUD? Will you feel the need to continue?

Yes, because:
1. the nature of fiat money is that it depreciates in value over time (inflation);
2. and spending (utilising) the finite amount would erode its value faster.

'It is not the AMOUNT of money you have that matters. What matters is the SYSTEM you use: No amount of money can save you if you have a bad system. Conversely, if you have a good system you can start with small money and easily become rich.' (Matthew Todorovski)

robynm posted:
My business partner has been trading for over 15 years and she has very consistent profits

What about you dude ?

BluePanther posted:

togr posted:
Impressive
What if you had stopped at that 13 mil AUD? Will you feel the need to continue?

Yes, because:
1. the nature of fiat money is that it depreciates in value over time (inflation);
2. and spending (utilising) the finite amount would erode its value faster.

'It is not the AMOUNT of money you have that matters. What matters is the SYSTEM you use: No amount of money can save you if you have a bad system. Conversely, if you have a good system you can start with small money and easily become rich.' (Matthew Todorovski)

I also lost a large chunk of risk capital from the Pound flash crash in 2016. These flash crashes are inevitable in Fiat Forex world. We have them in crypto as well. Market makers can pull their bids, or asks at anytime.

Since we have both been rekt from flash crashes, what are you doing differently?

tradeFX4btc posted:

BluePanther posted:
'It is not the AMOUNT of money you have that matters. What matters is the SYSTEM you use: No amount of money can save you if you have a bad system. Conversely, if you have a good system you can start with small money and easily become rich.' (Matthew Todorovski)

I also lost a large chunk of risk capital from the Pound flash crash in 2016. These flash crashes are inevitable in Fiat Forex world. We have them in crypto as well. Market makers can pull their bids, or asks at anytime.

Since we have both been rekt from flash crashes, what are you doing differently?

1) I am more wary of Drawdown risk; I focus on maintaining Equity as close to 100% at all times, and will avoid Drawdowns as much as possible. I will never again tolerate a Drawdown exceeding 40% - NO EXCEPTIONS;
2) I am focusing on growing my accounts more “organically”, rather than “manufacturing” fast growth with higher risk; the 800% and 1000% gains partially fed my complacency and greed, and did not favour a better appreciation of the gains I had made;
3) I use better systems; the system that caused my margin calls was a counter-trend linear-sequence cost-averaging EA (commonly mislabelled “grid-martingale”), with minimal filtering for market-entry;
4) I no longer mirror my trades across my accounts; I knew the cross-account risk was a bad idea, but I expected the large equity and non-aggressive EA would have survived any market move - but I didn’t expect an exceptional market move like the YFC;
5) I will be more wary of trading over Christmas / New Year; I will cease trading on most of my accounts, and keep only a few (or only one) account active;
6) I am scaling risk across my accounts, from low to high risk; I will permit my higher risk accounts to fail, and I will not shift funds in order to save an account.

Every cloud has a silver-lining; my losses have:
a) hardened my resolve to find better systems that can survive (even thrive) from such volatility;
b) helped me gain some valuable experience.

'I once read an interview with a hedge fund manager, who had one of his traders lose $50 million on a trade. When asked if he was going to fire that trader, he replied “Are you nuts? We just paid $50 million for him to learn that lesson – why would we pack him up and ship him off to another hedge fund to benefit from it?”
(Christopher Lee, independent trader, www.pipmavens.com/blog/trading-in-public)

tradeFX4btc posted:
Since we have both been rekt from flash crashes, what are you doing differently?

Oh, and:
7) Diversification is BAD; just because a system can work on 28 pairs, does not mean it should be used on 28 pairs. Sure it can multiply results and give some guarantee to returns, but it also adds exposure to every market event, and movements can be multiplied across other pairs of the same currency. It only took two currencies for me to gain 800% and 1000%: it is better to focus on a few currencies and limit your exposure to risk events.

'The most successful investors don't diversify. Rather, they FOCUS (Follow-One-Course-Until-Successful) and specialize. They get to know the investment category they invest in and how the business works better than anyone else.'
(Robert Kiyosaki, American businessman and author)

“Wide diversification is only required when investors do not understand what they are doing.”
(Warren Buffett, American business magnate, investor, speaker and philanthropist)

It only took two currencies for me to gain 800% and 1000%: it is better to focus on a few currencies and limit your exposure to risk events.

...and it only took one currency (JPY) to cause me a 96% loss after trending for two weeks and then having a Flash Crash.

Stick to a few pairs only, and trade them well; be selective in where you risk your money.

BluePanther posted:

togr posted:
Impressive
What if you had stopped at that 13 mil AUD? Will you feel the need to continue?

Yes, because:
1. the nature of fiat money is that it depreciates in value over time (inflation);
2. and spending (utilising) the finite amount would erode its value faster.

'It is not the AMOUNT of money you have that matters. What matters is the SYSTEM you use: No amount of money can save you if you have a bad system. Conversely, if you have a good system you can start with small money and easily become rich.' (Matthew Todorovski)

so is there some level when you switch from high risk to low risk trading?

togr posted:
so is there some level when you switch from high risk to low risk trading?

I plan to graduate risk across my accounts in the following method:
Account 1: $1000
Account 2: $2000
Account 3: $3000
Account 4: $4000
Account 5: $5000
Account 6: $6000
Account 7: $7000
Account 8: $8000
Account 9: $9000
Account 10: $10,000
Account 11: $11,000
Account 12: $12,000
Account 13: $13,000
Account 14: $14,000
Account 15: $15,000
Account 16: $16,000
Account 17: $17,000
Account 18: $18,000
Account 19: $19,000

Risk setting of EAs would remain consistent across accounts, ie. starting Lots 0.01, strategy parameters, etc.