50k dollars a month - page 17
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Misunderstanding is almost always guaranteed when people initially discuss different ways of doing the same thing.
Your statement: It means you have a demo account where you multiplied the initial deposit thousands or not millions of times, means you assume I already got it right some time ago. No. It is not like that.
I have been trading 17 hours per day on my demo account for the last 30 months. I use the demo trading to develop my trading plan. Then to refine and reduce the number of rules. That is where I am now after 11 000 hours on the demo.
I have published "Holy Grail" prints of my charts many times on this forum. A number of them are permanently available on here. I call them "Holy Grail" charts because it is clear on the chart that the customized MACD and/or customized Stochastic correctly indicated all the entry and exit points for that trading day correctly. It is possible on those charts permanently available on the forum to calculate the profit percentage for that day at 50 leverage and compounding 100% for that day. Normally those profit percentages range from 10% to 50% per day. Now and then reaching 100% in one day. I did not indicate these high daily profit percentages on the published charts because I realized that it would infuriate many people on this forum to suggest that it is possible to achieve those daily percentages. But, it is the simplest thing in the world to go to those published charts and calculate the daily profit percentages.
My trading plan consists of the customized MACD, the customized Stochastic and the 10 crossing 50 EMA pair.
I do not use just one time frame. I start on the M3 at any time after 5 am my time, 7am platform time. I could follow a long move all the way to the H1, going to an always longer time frame to keep my MACD daylight free.
I see it every day, but on a combination of various charts starting on the M3 that could go all the way to the H1. I will have to publish 10 charts for you every day so you can see how I have to often go from M3 to H1 to keep the MACD Daylight free.
Next time I publish a chart I will ping you in some way and I will start indicating the possible profit percentages for you. But, it is only with 50 leverage and 100% compounding.
I do see it on the charts every day.
I have to concentrate to improve my discipline to follow the rules strictly. I am almost there. I plan to go back to live trading within the next two weeks. I now have to lock in the discipline in my mind.
It seems to me that I have a very different approach to day trading forex. I also appears to me that almost everyone has his or her own way of trading.
Participating on this forum is quite an eye-opener.
Mr PennySeven, did you know that you can actually publish you demo account signal, so that every body can actually have access your trading history, it doesn't even take more than 5 minute to publish it.
it will be interesting to see your performance, since you have been trading for almost 30 months and above.
Damn! Penny, what really matters ? What you are seeing everyday or what anyone would say ?!
As you can see on a previous post, in any contest ranking, none go nowhere with less than 100% in 1 week-1month, so yes, definitively, obviously, 17.5% per day (500% per month can be achieved).
In my sense, what is more surprising is that you don't to change your indicators periods, let's say it suits EURUSD, will it suits also GBPUSD or USDJPY ? Trading multicurrencies is a good start if you wishes to reach 1000% a month !
... a fact being that at March 15, the first one is already higher than 1000% growth.
Yes indeed that one is a "bot allowed" contest. But all aren't :
it's 3 000 % without EA :] In 1 week.
My opinion you're jealous, and it's legitimate, because they are very strong.
The third one there is lebanese ...
It's those claiming it's not possible whose are virgins, childish.
Mr Icham Aidibe
I would like to ask you, how does one register to participate in those competitions and what are the prizes to be won?
really appreciate any good response.
Thanks.
Guys i spent a lot of time reading through your posts just to find out that last night replies "two pages" was mostly off topic, i'll ask you to please stick to the main subject we all have more to develop in our lives, this doesn't include all the ones who replied here of course "but just some replies", and i wish to continue receiving more of the hands on experience or any useful information that adds to the topic
Mr Icham Aidibe
I would like to ask you, how does one register to participate in those competitions and what are the prizes to be won?
really appreciate any good response.
Thanks.
You'll find plenty of those contests on the net. Sometimes it's organized by a broker, sometimes it's open to every one. You subscribe with your real account or a contest account is given, you have a delay of 1 week or 1 month, you trade, if you're in the top 5, you win a part of the pot. It may be organized in many rounds.
Sometimes you win an account on the broker's server with a consequent deposit (1000$), and you're able to start from here. It's good for PennySeven for example !
Sometimes you win an iphone, a trip, a car, the night of your dreams with Victoria's secret angels if you wish to or whatever ...
Amir, this is exactly what I tried to explain up to this moment and if you keep to think in these terms I can see that you learned the lesson in your trading venture and you can surely be much more aware in your trading now---> you have much more good chances to survive in this business.
"Someone" in this topic said one of the very few common sense things that he/she ever said: "that I really haven't something to prove "
In fact, in this activity you really have nothing to prove to others, trading is not a childhood challenge where you say: "I can make 1000% per month (or I can gain 50K per month) and you can't" (with grimace included). It is a serious customized business (based on the risk that you are willing to take for your assets) that has nothing special, it is just like any other business.
Have you ever heard some farmers or grain traders bragging themsleves each versus another in this way? No, because behind that activity there is a serious effort to make the best from their business and bragging is not a costructive point--->It does not make any sense.
As the moderator Marco said, if you have such attitude you will never ever just dream about to go even close to that goal.
A last note from behavioral finance: We are maked up with two "computers"
-conscious mind
-unconscious mind
This last "computer" is about 1 million of times much more powerful than the first one but it have a lot of "inertia" this mean that you will trade with the second "computer" all the time even if you reject this concept that is reality.
Let's assume that your "unconscious mind" have a particular make up such that in your life you are programed to fail (maybe because you've always experienced unpleasant events in your life or it was transmitted to you from your family environment) in this case you are trading with a very dangerous environment inside of you; in fact someone said that "everyone takes what he/she want from the market, someone have a deep desire to lose while others a deep desire to win" of course he was talking about "unconscious mind" instead in "conscious mind" terms it is logical that everyone want to win all the time.
Now, the funny thing is that those two "computers" are very very often against each other: if you have a "failure attitude" in your "unconscious mind" the "conscious mind" is ready to contraddict the powerfull computer in these terms "I will show you that I'm not a failure" (maybe you will say that to other people but you are saying it to your "unconscious mind") but who control your trading is the powerful computer of course.
On the other hand, if your "unconscious mind" have a "winning attitude" the conscious mind is ready to contraddict the first one in these terms: "okay but let me see better if I can really do it" (it mean: humble attitude that "someone" with rude and silly attitude here would define "virgin childish")
Ed Seykota after doing extraordinary performances (when the market had a much more simple behavior as just trading a breakout and win most time than not) near to the end of his career said: "I'm still insicure if my succes is based on my cleverness or just on luck" Do you see how much humility? Do you see the winning attitude of his "unconscious mind"?
The "unconscious mind" is not easily "reprogrammable" but, on the other hand, the task is surely possible after a lot of self-criticism, internation etc...(it take years: psychiatrists know that very well) this is just because it have a lot of "inertia" and it is a lot more powerful than "conscious mind" which instead can change opinion is two seconds.
Maybe "someone" here, wants to be told that it is possible to reach those "science-fiction returns" and so what I can say is: go there and prove it to yourself (not to us) and if you will come to reach that goal you can even choose to give away to us (just for humiliation) 1 million dollar to each partecipants of this topic or even better to found a philanthropic activity to help disadvantaged people.
I think it is useless, while very hard, try to convince what is trading reality and what is fiction (if we talk about a long term and serious career); of course our discussions here are like seeds and who read can choose what is the seed that he/she want to cultivate and protect, based on that everyone will collect the fruits that those seeds will produce. In this process, I can see, natural selection definitely have a role.
Good luck to everyone and enjoy your trading guys!
You don't like me hmm ?
You don't like me hmm ?
What does liking have to do with this!!
We are discussing professionally here
What does liking have to do with this!!
We are discussing professionally here
Obviously.
You'll find plenty of those contests on the net. Sometimes it's organized by a broker, sometimes it's open to every one. You subscribe with your real account or a contest account is given, you have a delay of 1 week or 1 month, you trade, if you're in the top 5, you win a part of the pot. It may be organized in many rounds.
Sometimes you win an account on the broker's server with a consequent deposit (1000$), and you're able to start from here. It's good for PennySeven for example !
Sometimes you win an iphone, a trip, a car, the night of your dreams with Victoria's secret angels if you wish to or whatever ...
Thanks, one more think, I want to ask those who have participated before in trading contest.
1) Are your past trading performance which you have produced during the trading contest competition still the same as today?
2) Cause in regard to machine learning, I do believe that there are some sort/kinder of " Honeypot " system (in computer science its mostly used in artificial intelligence within the security field, it study patterns of an attacker so it can best counter the attacker, most intelligence organization like CIA, GCHQ, The Russian and Chines organization mostly use it, those are advance stuff) I don't know if you ever hear about that word, a machine learning your trading style and in future it will recognize the way you trade and it will go against you and it will trade better than you. which will be hard for you to make any profit.
3) remember nothing is free in this world, they will give you a small prize in return you have done them a big favor to put you in a database table list of potential treats, who can drain their bank. when ever the system recognize you it will give you hard time and bit your at your own game :-)
4) Plus the dealing desk guy will always follow your trading and copy you trades when ever you buy/sell so the company can make money as you are making, smart :-)
Thanks, one more think, I want to ask those who have participated before in trading contest.
1) Are your past trading performance which you have produced during the trading contest competition still the same as today?
2) Cause in regard to machine learning, I do believe that there are some sort/kinder of " Honeypot " system (in computer science its mostly used in artificial intelligence within the security field, it study patterns of an attacker so it can best counter the attacker, most intelligence organization like CIA, GCHQ, The Russian and Chines organization mostly use it, those are advance stuff) I don't know if you ever hear about that word, a machine learning your trading style and in future it will recognize the way you trade and it will go against you and it will trade better than you. which will be hard for you to make any profit.
1-According to that, there will be an AI to counter this smart AI and make it lose in order for the smarter AI to win, there is no need to even think in this direction
2-There is no use of having a "counter attack" the market will correct itself naturally depending on fundamentals and technical to make one lose or win, if a machine analysis leads to opening sell orders and the market is going short and you decide to go short, then another machine learning your trading style for 100 years or so will be useless to counter your trade in that case, unless if its capable of moving 25 trillion dollars worth of market to the opposite direction
3) remember nothing is free in this world, they will give you a small prize in return you have done them a big favor to put you in a database table list of potential treats, who can drain their bank. when ever the system recognize you it will give you hard time and bit your at your own game :-)
4) Plus the dealing desk guy will always follow your trading and copy you trades when ever you buy/sell so the company can make money as you are making, smart :-)
It's unnecessary to follow small sized trades compared to billions of market moves per second, they only take the other side of the trade if the system allows it and in that case you do the good job of system analysis