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Successful traders are very, very rare to find

  • #801
  • Jun 2, 2020 4:50am Jun 2, 2020 4:50am
Quoting Ben Kenwood
{quote} Sometimes I won. Sometimes lost. But when I won more than 30 percent, my deals were manipulated. Even the most famous brokers made me slip. Once I saw how the most famous Swiss broker made me a sale instead of buying. They turned the order. Was buy became sell. a deal of plus 350.000,00 euros was minus 350.000,00 euros. My balance has been reset. It is my story
Your broker fucked up on a near half a million Euro deal? (I can never quite figure out Euro commas and dots).

Is that all. Don't tell me - you won't seek legal advice.

What does "my balance has been reset"mean? Be precise.
  • #802
  • Jun 2, 2020 7:32am Jun 2, 2020 7:32am
Quoting Siosvel
In fact, finding an experienced and successful trader is not so difficult. The thing is rather different - many of these traders can earn good money today, and spend it tomorrow. And then the question is - to call them successful or not?
Fair question if it was politicians you speak about and taxpayers money that they have responsibility for - but I digress.
  • #803
  • Jun 2, 2020 8:17am Jun 2, 2020 8:17am
Quoting Deepak.Dubey
{quote} Hi! I don't think he mentioned scalpers. Yeah, I feel the data related to covid is flawed perhaps due to the limitation of science in understanding a relatively new disease.
I guess the obvious thing is the % who dies OF Covid and those who die WITH it.

These two figures differ significantly.

As to comparisons, think about a ratio - of infections/fatalities per million.

Dig a little deeper and divide people up into groups based on age, demographics, access to health care and any delay in securing it, living circumstances, diet, etc etc.

So, the USA has over 300 million people. New York (for example) is high density. From what I have briefly seen on TV, social distancing is not in their DNA, or indeed, those in Minneapolis.

It is possible that the numbers may be different than in outback Australia.

Now, do a similar exercise with traders and we might start to get somewhere - some numbers with some predictive power.

I think that this is the kind of stuff actuaries spend their days puzzling over, complete with rocket science maths.
  • #804
  • Jun 4, 2020 5:50am Jun 4, 2020 5:50am
Quoting LloydOz
{quote} Your broker fucked up on a near half a million Euro deal? (I can never quite figure out Euro commas and dots). Is that all. Don't tell me - you won't seek legal advice. What does "my balance has been reset"mean? Be precise.
Yep. This scam broker cheated me for more than 600k. I had 250K of my balance + 350K of my order. That was a few years ago. I have no chances. Where is this world going? Everywhere is such a mess! People are crazy about money and power! My advocate said that he could not help me in any way.
  • #805
  • Jul 6, 2020 4:22am Jul 6, 2020 4:22am
Successful traders are not as few as you might think, there is also the question of what success is, for some people to be successful in trading means to safely support themselves and their family, for others it means buying expensive cars and cruising on yachts. People who make a lot of money often take risks, yes it is true, but they risk wisely, they have penetrated into the dynamic structure of trading, and even if they lose some amount of investment, they will not fall into depression, and will continue to trade, making conclusions based on their mistakes.
This is the variability of success, as far as you are ready to take risks, learn and develop, such a return from trading you will get, everything is simple and natural. Plus, people who have achieved any success in trading, will not brag about their money, but will invest it in new trades, which is why we do not see so many successful traders.
  • #806
  • Jul 7, 2020 6:27am Jul 7, 2020 6:27am
Trader becomes successful when they work hard on their skills and knowledge. Such traders are stable mentality to take decision in tough time also.
  • #807
  • Jul 10, 2020 8:41am Jul 10, 2020 8:41am
Quoting 7Shun
Successful traders are not as few as you might think, there is also the question of what success is, for some people to be successful in trading means to safely support themselves and their family, for others it means buying expensive cars and cruising on yachts. People who make a lot of money often take risks, yes it is true, but they risk wisely, they have penetrated into the dynamic structure of trading, and even if they lose some amount of investment, they will not fall into depression, and will continue to trade, making conclusions based on...
I agree that "success" is a relative term and we each have our own definition of it. I think, broadly speaking, a successful trader is someone who can successfully recover from a general loss.
  • #808
  • Jul 10, 2020 9:27am Jul 10, 2020 9:27am
My intention of starting this thread was to highlight the fact that "day" trading is a fool's game and should only be carried out with an understanding that it is "gambling". The other reason was to point out that almost all trading strategy sellers are not worth following, it's just a con!

My main argument against day trading (these are very easy to calculate)

1. Take a look at the Standard Deviation of any instrument.
2. Take a look at the average true range.
3. take a look at the Distribution of returns.

These three should tell you what you are up against!

And, finally the trading platform tricks:
1. Increase spreads in times of volatility ( a day trader needs volatility to stand even a slight chance of a winning bet), so in effect taking out the volatility.
2. minimum stop distance variations.
  • #809
  • Jul 14, 2020 4:51am Jul 14, 2020 4:51am
I think there are a lot of them, but a lot depends on how you define this success - by what people manage to earn permanently.
  • #810
  • Jul 15, 2020 5:01am Jul 15, 2020 5:01am
Quoting Rennaissance
I don't know your experience, but successful traders are very hard to find. A lot of guys who seem successful will fail over the long because they use negatively skewed strategies. What's your experience guys?
I totally agree with this. Most of the traders encounter losses and quit
  • #811
  • Jul 22, 2020 7:04am Jul 22, 2020 7:04am
Quoting Zeus20
My intention of starting this thread was to highlight the fact that "day" trading is a fool's game and should only be carried out with an understanding that it is "gambling". The other reason was to point out that almost all trading strategy sellers are not worth following, it's just a con! My main argument against day trading (these are very easy to calculate) 1. Take a look at the Standard Deviation of any instrument. 2. Take a look at the average true range. 3. take a look at the Distribution of returns. These three should tell you what you are...
good points
  • #812
  • Jul 22, 2020 1:31pm Jul 22, 2020 1:31pm
Quoting Ben Kenwood
{quote} .. won more than 30 percent, my deals were manipulated....
Once I saw how the most famous Swiss broker made me a sale instead of buying. They turned the order. Was buy became sell. a deal of plus 350.000,00 euros was minus 350.000,00 euros....


Yep.

I totally believe this

Once I got out of my house and halfway down to the shop my left shoe and right shoe swapped .
This damn broker.
The most famous Swiss boots, with self-tying laces.
I had the special stop nose on my sneakers but my broker turned my flip flops. Then my high heels became low.

I had short skirt then they reset to long dress.
Was 35.00'09"45 price of in the Apple pharmacy for blind African-Palestinian.

True story
Beware of robber banks (RB), bad advisors.
  • #813
  • Jul 22, 2020 1:38pm Jul 22, 2020 1:38pm
Quoting Ben Kenwood
{quote} Yep. This scam broker cheated me for more than 600k. I had 250K of my balance + 350K of my order. . ! My advocate said that he could not help me in any way.
I feel for you

So you had 250000 and now you owe them 100k.???

I believe you

Should we gather some money ?

And you DON'T HAVE the daily confirmation email with open orders???

Did you say your DOCTOR couldn't help you???

I feel sorry for him
Beware of robber banks (RB), bad advisors.
  • #814
  • Jul 22, 2020 2:05pm Jul 22, 2020 2:05pm
Quoting Ben Kenwood
{quote} Yep. This scam broker cheated me for more than 600k. I had 250K of my balance + 350K of my order. That was a few years ago. I have no chances. Where is this world going? Everywhere is such a mess! People are crazy about money and power! My advocate said that he could not help me in any way.
Trading that amount of size you should be fully aware of:
1. The terms and conditions with your broker/s.
2. What they mean for you legally (lawyer/s?).
3. Always record your trading screens/sessions to make sure it covers both charts, blotters and execution buttons.

Trading size is no joke, contingencies must be in place after negotiating and before transferring and trading.
  • #815
  • Jul 23, 2020 5:15am Jul 23, 2020 5:15am
Quoting Not-KPMG
{quote} Yep. I totally believe this Once I got out of my house and halfway down to the shop my left shoe and right shoe swapped . This damn broker.True story
People do that kinda stuff all the time when they are dead drunk. No big deal. They also call up their famous Swiss broker with some garbled rant about buying a harbour bridge. Broker thinks, ah, I've got a live one, lets see what we can do.
  • #816
  • Sep 5, 2020 4:39am Sep 5, 2020 4:39am
Quoting Ben Kenwood
Guys please help me if you have an idea
ok, I can help you, write me by message if necessary, tell me about who it is that changed that operation that made you lose your money
Confucius: the man who broke the mountain was the same man who started ...
  • #817
  • Edited 5:21am Sep 5, 2020 5:11am | Edited 5:21am
when talking about a successful trader, in most of the traders, and it is said that it is very difficult to be successful and constant and at the same time live from trading ..... stop and think about this and do it for real ..... That is the real problem they are having, are they not constant? .... that is your weak point ........ well this is my message: "if constancy is your enemy, stop doing constant trading, that is, forget about constantly making trades, and this will give you success, do a trade DO NOT BE CONSTANT and only do a trade at an easy time, a strong moment in the market and clearly it is in which if you are following it you will not be wrong. And the result will be that you have profits
Obviously those moments are scarce, that's why you have to be aware with all your arsenal of money prepared even for years until that moment appears and BOOOMMMMM, you gave it full and you won, and as you were very prepared with a great arsenal your result was great, long enough to wait more years if necessary
Confucius: the man who broke the mountain was the same man who started ...
  • #818
  • Sep 6, 2020 10:40am Sep 6, 2020 10:40am
I have been trading for almost 11 years, with pauses 6 month, one year. Trading, then give up, then again. Firstly, i tried demo account, then decided to feel the market on cent real account. So now I am about -3500 usd. Only now it seems to be something new, - with low percent entry position it feels comfortable. It is a long time trading. And recently I tried xau/usd. And made 31 usd from 4. It was cool, but then I lose it (payrolls and not concentrated) - it was awful.
  • #819
  • Sep 6, 2020 7:21pm Sep 6, 2020 7:21pm
Quoting ksoKM
I have been trading for almost 11 years, with pauses 6 month, one year. Trading, then give up, then again. Firstly, i tried demo account, then decided to feel the market on cent real account. So now I am about -3500 usd. Only now it seems to be something new, - with low percent entry position it feels comfortable. It is a long time trading. And recently I tried xau/usd. And made 31 usd from 4. It was cool, but then I lose it (payrolls and not concentrated) - it was awful.
Saint Vincent and the Grenadines https://www.weltrade.com/local/templ...e-logo-new.svg
you are in this broker?
Confucius: the man who broke the mountain was the same man who started ...
  • #820
  • Sep 6, 2020 10:49pm Sep 6, 2020 10:49pm
Quoting afevir
when talking about a successful trader, in most of the traders, and it is said that it is very difficult to be successful and constant and at the same time live from trading ..... stop and think about this and do it for real ..... That is the real problem they are having, are they not constant? .... that is your weak point ........ well this is my message: "if constancy is your enemy, stop doing constant trading, that is, forget about constantly making trades, and this will give you success, do a trade DO NOT BE CONSTANT and only do a trade at an...

well said. it is extremely hard to be consistently profitable especially in FX, which is a zero sum game.

those who trade for a living almost always end up with no money left. not because they are all reckless, but simply because all strategies are fallible.

now some people may try to skyrocket a very small account with no sl, martingale etc. some may try a fixed high risk per trade.

I'd rather buy and hold with no leverage... but that's just me.
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