- Search Forex Factory
- TraderTim125 replied Jun 21, 2021
Hey give me a break. I only got the OK from our team yesterday to put a post on the FF forum. Yes we are looking for just one of those. Let us say that this hypothetical real trader trades with say a $100K account and makes say 2-10% a month and ...
The brutal truth of day trading
- TraderTim125 replied Jun 21, 2021
[I] I think the offer is pretty reasonable. $100K or thereabouts for doing nothing other than their normal trading. Absolutely no risk. with a fairly high likelihood of winning. Anyway everything is negotiable but obviously not to the extent of 120% ...
The brutal truth of day trading
- TraderTim125 replied Jun 21, 2021
That is a really smart piece of advice. Go to an investment advisor who wouldn't have a clue about this sort of thing and tell them I wanted to take a high risk gamble on a self managed forex scheme with a couple of grand. I can just imagine the ...
The brutal truth of day trading
- TraderTim125 replied Jun 21, 2021
I Am Willing To Put My Money Where My Mouth Is Hi Winston, I haven't done this yet. It is pure theory at this stage. I have mentioned a couple of times elsewhere on this thread that I am a member of a small peer-to-peer fx trader mentoring group. ...
The brutal truth of day trading
- TraderTim125 replied Jun 20, 2021
Hi Simz, I don't have a problem with making money but these days trading is more of a game than anything else. For me it is something to maintain my interest in life and a reason to get up in the morning. Perhaps in time I will get to know people on ...
The brutal truth of day trading
- TraderTim125 replied Jun 20, 2021
You are welcome. I am sympathetic to the language problem. It must be very difficult. I think it results in quite a lot of misunderstandings on this forum. Regards Tim
The brutal truth of day trading
- TraderTim125 replied Jun 20, 2021
Hi Winston, The reality and assumptions of High Risk High Return (HRHR) trading are very different to those, that, for want of a better word, I will call investment trading. Let me first define what I mean by investment trading. You have a ...
The brutal truth of day trading
- TraderTim125 replied Jun 20, 2021
Hi again BlackNapkins Yes of course it is. You asked a very beginners question so I assumed you were a complete beginner and answered your question in a way that I thought was appropriate for your apparent level of understanding. You have jumped ...
The brutal truth of day trading
- TraderTim125 replied Jun 20, 2021
Hi BlackNapkins In general terms I would describe an edge as measure of a traders skill. I would describe win rate as a function of the traders strategy. Skill, or lack of it, can certainly have a significant impact on win rate. It is quite possible ...
The brutal truth of day trading
- TraderTim125 replied Jun 20, 2021
Hi Viktory, With all due respect I don't have delayed or non representative data from Tradovate or Zytrade. I have real time, complete CME fx futures data that I have personally validated. I could not have done the correlation testing, particularly ...
The brutal truth of day trading
- TraderTim125 replied Jun 20, 2021
Is a 5% return on capital per day feasible? Here is just a teeny bit of very simple maths to show how it could be done. First of all you need a fairly decent, consistent trader. Such traders in my experience do exist but what specifically do I mean ...
The brutal truth of day trading
- TraderTim125 replied Jun 20, 2021
Stream Of Consciousness Thanks Peter I think I am getting it Here is a summary of my current train of thinking. Order Flow theory, (big) limit orders or icebergs, market orders, liquidity absorption etc all make sense. The effect that fits this ...
The brutal truth of day trading
- TraderTim125 replied Jun 20, 2021
Stinking Thinking And False Data The term “Stinking Thinking” is generally credited to an American psychologist Albert Ellis who was prominent in the 1960’s. It describes a self-absorbed, low awareness state of mind that many of us experience from ...
The brutal truth of day trading
- TraderTim125 replied Jun 18, 2021
DOM On Metatrader MT5 image After a bit of tête-à-tête I managed to get Pepperstone to set up XAUUSD dom data for MT5. They have promised it for currencies "soon". Is it any value? I really don't know. I am a mere beginner in this field of Order ...
The brutal truth of day trading
- TraderTim125 replied Jun 18, 2021
"The Risk Is Right When You Sleep at Night" Hi Rick, This is quite possibly true. Without seeing their accounts (or their drawdown) it is hard to know. What I said in an earlier post is that Profit is proportional to Capital x Risk x Edge From what ...
The brutal truth of day trading
- TraderTim125 replied Jun 17, 2021
200% DD but your already out of the game so your profit is 0 ( or worse)
The brutal truth of day trading
- TraderTim125 replied Jun 17, 2021
Trade Size Trade size is simply a function of risk and capital. It is not a determinant entity in itself.
The brutal truth of day trading
- TraderTim125 replied Jun 17, 2021
A New York Close Chart is one that shows New York time 5pm (which is currently UTC + 3) as 23:59:59 on the chart. i.e, The end of the chart trading day corresponds with the nominal end of the business day in New York. My main tests were from 8am ...
The brutal truth of day trading
- TraderTim125 replied Jun 17, 2021
Hi kk100, Yes, Interesting idea. I have just run a few additional tests mostly on EURUSD & GBPUSD and mostly for the times 10:00 to 17:00 New York Close chart time (UTC +3). It didn't seem to make a whole lot of difference. There was a difference of ...
The brutal truth of day trading
- TraderTim125 replied Jun 17, 2021
Profit, Risk, and Edge The above comments are some of the most sobering thoughts I have come across on this forum. Most of us have probably heard stories about someone who opened a $100 FX trading account and turned it into a $million dollars over a ...
The brutal truth of day trading