I want only a safe 4% each month... Which EA?? Thank you

ahuruglica posted:

FxMasterGuru posted:
If you have an EDGE, trading is not speculation. It is being The Casino. Once you are the Casino, then you win and lose (like the casion at the roulette table), but eventually and statistically you win more than you lose (the same as the casino). It is that simple.

So find your edge, then you are on your way.

Nicely put, nothing too add.

Thanks! This MyFxBook thread - started by DGilberto - adds some more very useful insight: https://www.myfxbook.com/community/new-traders/why-90-retail-traders-fail/664838,2#?pt=2&p=1&o=664838

Having an edge is key tro success but its still speculation. all you can control is risk..however it is possible to make a lot of money in this buisiness, but its alot of trial and error till you get there

Stevo0610 posted:
Having an edge is key tro success but its still speculation. all you can control is risk..however it is possible to make a lot of money in this buisiness, but its alot of trial and error till you get there

I have to disagree. Casinos do not speculate as they have a STATISTICAL EDGE on all the games they offer. It is the same in the business of trading: Once you have a statistical edge, it is not speculation any more. Of course, having an edge also means controlling risk (like casinos control they own risk). It is a part of having an EDGE.

If you are curious about the 'house' EDGE of different casino games, here is a good link: https://wizardofodds.com/gambling/house-edge/. Black Jack has only a 0.28% 'house' edge, but still, hundreds of casinos thrive on offering this game. Why, because this 0.28% is enough to make a LOT of money.

Check out this link and you will see that our expert is praised

https://www.forexbrokerz.com/news/marilyn-forex-robot-review-leader-autotrade

I don't need it . I' m in the 5% club ;) . Forex or any market is nothing like gambling, i have never said that. There may be many different approaches, and i agree with you it's important to have an edge, it's the only way to make money. Controlling your risk is just as important, as is mindset etc. it is a long education to become profitable..

for me it has been almost 10 years..

Stevo0610 posted:
for me it has been almost 10 years..

I guess the 10,000+ hours (screen time) refer to both of us (and to most fellows in the '5% Club') - as well-put by Malcolm Gladwell in the 'Outliers'. By no means 10,000+ hours is a guarantee for success, it just part of it.

Here my charts: 4% a month is no problem. Time will tell.
Garry

Professor53 posted:
Here my charts: 4% a month is no problem. Time will tell.
Garry

Congratulations, DEMO Warrior!

DEMO trading is so-so-so far from trading with real money (in multiple aspects), that it is almost completely useless and self-deceptive. It is still better to trade on a 'cent account' with micro- or nanolots than trading with a demo account.

Live and learn,
When you start from the bottom you can see the top,
So when you get to it, don't let them see the spot.

Beeing successfull in Forex and other markets is just as hard as beeing successfull in any other buisness. It takes time, brains and hunger to be successfull, and the mindset of never willing to give up. It has been a long path for me and most likely for anybody who is making some money of this ...

This is a massive joke.

If someone could do 4% a month with anything lightly similar to 'no risk', why would the world's best hedge funds barely be able to achieve 30% ? with teams of hundreds of professionals, you think a 1000$ EA could beat that ?

Felotus is correct. Its us the little fish that is in direct competition with the whales of the forex ocean from the comfort of our homes in front of a PC. Most banks and hedge funds have large corporate TEAMS that include high speed research computers and large groups of highly educated people with masters and PHDs that do this kind of analyse and trading as thier job. For any one to win, some one must loose. From what I understand. If you build a better mouse trap, the world will come to your door. SAME WITH FOREX. From what I read and understand, the way to fame in forex is: Develope a trading system or EA, that trades with 6% profits a month and not having a DD greater than 20%. If you can demostrate these 2 things in forex over a long lenght of time, then you will be famous and rich!

'The speculator is not an investor, his goal is not to secure a steady return on his money at a good rate of interest,
but to profit bye either a rise or a fall in the price of whatever he may be speculating in.' - Jesse Livermore

The problem with people is if anyone had a sniff of anything that is remotely working they get so greedy that they lose their minds in trying to scam a way of making money from any and everyone one. If people worked together in the best interest while being honest and upfront they might and I mean just might come up with something, but while they are humans and greedy and involves money they will lead to destruction.
This forum is a classic way of what I am trying to convey where so many come here trying to show off something that isn't even worth entertaining.

That's my FORDWARD TEST LIVE becoming FINAL REAL ACCOUNT ( without leaving I+D )

No offense but you trade on 1 500€ and you had huge drawdowns of -20%

@Rubn I don't think that's true, speculators also want to make money over the long term. Most equity hedge fund will look for 6 months opportunities

The real world is not managing 1k5 and losing 20%, the real world is pension funds who invest packs of 10 or 20M and you're maximal drawdown allowed is less than 4% on a yearly basis.

The truth is, if you are able to do 20% a *year* for 3 years, you can already gather 100M in clients money, easily. And forget about leverage, most regulators won't let you go above 2:1.

I don't know in which 'Real World' u live but is not mine. If u wanna less DD divide the risk.

felotus posted:

@Rubn I don't think that's true, speculators also want to make money over the long term. Most equity hedge fund will look for 6 months opportunities

Yup you're right 6 months, 1 year, 24hours, 5 minutes. I was not talking about timeframes. Every speculator has different timeframes in his/her operations.

 THIS is the main mistake people does not get (in my humble opinion of course): Speculation/trading is STILL speculation whether you look for 6 months opportunities, 1 year + opportunities or just intraday opportunities. Scalpers, day traders, swing traders, position traders are all speculators. Investors on the other hand just seek steady (no risk) average returns, in my opinion speculation has nothing to do with investing.

 I was pointing out by quoting Jesse Livermore (a hero of mine) that we as speculators/traders CAN'T seek steady income based on steady return over our capital. We are not investors per se. Speculation is a whole different art and business.

felotus posted:
The real world is not managing 1k5 and losing 20%, the real world is pension funds who invest packs of 10 or 20M and you're maximal drawdown allowed is less than 4% on a yearly basis.

The truth is, if you are able to do 20% a *year* for 3 years, you can already gather 100M in clients money, easily. And forget about leverage, most regulators won't let you go above 2:1

Ah, I often call this 'real world' traders 'institutional traders', those who move the markets (hedge funds, banks, big money traders, trading syndicates, pools, etc. Yes, you are right, in that business (the 'managment of others people's money business') you will be trading 10 or 20M from your clients and the drawdown allowed would be much less than 4% a year. But for the average retail trader that kind of money is just way out of our league (unless you star a fund). We retail traders are just trading our hard earned money the best way we know.

I think that like everything in life, this topic is just a matter perception. Maybe the 'real world' for you is trade others people's money in a hedge fund, but for me the real world is follow the steps of Jesse Livermore and other famous traders and grow my little tiny account (1k , 2k or 5k) into something awesome like 100k, 500k or more. That would be a success for me personally. And I think that's my personal goal. Time will tell.

Theres no wrong or right, life is about perception. What it seems like gold to me it may seem like trash to you, and viceverse.


Nice conversation, my friends.
Regards.