lol, damn the truth hurts. But don't the 5% winning traders donate, like, 95% of their winnings? It's probably kind of like how Trump donates his president salary?
Almost everyone is lying. Because there's no such...
- Thread starter DeadTrader
- Start date
lol, damn the truth hurts. But don't the 5% winning traders donate, like, 95% of their winnings? It's probably kind of like how Trump donates his president salary?
Well, I agree and disagree. There are profitable traders out there, so I'm certain there are profitable systems. However, I do agree that if the system is so profitable, why would anyone want to sell it?
Hi
I'm a coder and data scientist. I have been working on trading for over 2 years. Spent lots of money. Every trainer i have paid lies. Because, there's no profitable system. If there's, nobody will teach you what it's. Trading is a zero-sum game. Your odds are same in Vegas. There's no such profitable trading system.
For example:
ForexSignals - Andrew Lockwood
He claims he's trader but i have never seen his real account. He make money by selling products.
Warrior Trading - Ross Cameron
Ross claims he made $500 to $100K in 45 days or so. He has a new challenge and he claims he made 1 million but it took years. If he could make $500 - $100K, why not keep doing the same? If you can not trade with a lot of money, you can still trade with $500. All he teaches is how to trade flag breakouts.
Warrior Trading - Steve Dahl
Steve Dahl is a showman. He claims he's trading. He never shows his statements. He says something like it's against the rules. All he's doing is, marketing his product TAS Market profile. His stoploss is like 250 - 350. Not for every trader. He trades trades futures (!).
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And here are some so called profitable strategies...
Order Flow Trading
There's no such thing. You can see supply and demand (support / resistance). However, price is never overbought or oversold. Price is always right. There are anomalies but they are not easy to see. There's 50% probability that S/R will be broken or bounce. You can never know if someone going to click on the market buy/sell button.
Price Action
Even my random chart generator does have price action. It's all random and there are trends...
High Probability Chart Patterns
Nope! HS, engulf, pin bar... All of them tested. Your chance is still less than 50%
Trading Algos
They are not fake and profitable until they become losers. Most of profitable algos risk 4 or more to get 1. One day, they will lose all the money
Backtesting #1
I have coded a random trade simulator. This script enters a trade randomly. 1:1 RRR and traded more than 10.000 (simulated). However, system never but never won more than 49%. (no spread or commissions calculated). You can say, if there's 50% probability, how come system can not win %50? Of course it can not win. We have stop-loss at the same range. Sometimes, market stops us and goes back to target.
Backtesting #2
I have created a simple moving average strategy and put the script in a loop to find the best matched values. After a few hours, i had enough data and plots. However, i strongly believe that, winning algos will lose by time. Everything changes. They worked in the past and it doesn't necessarily means that it's going to work in the future.
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Market is always right. It goes, where it wants to. We can never know the future. Some says, we don't know or predict future. We see and trade "now". It's not true. "Now" is the future. All you see is the historical data. Our brain is used to perceive positive things. That's why it looks so easy. It's not!
There's no scientific study that proves trading is profitable. Come on guys. Really? Don't you think that there are profs trying to find some scientific evidence? Don't tell me about momentum. It's all luck... That's it.
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Everyone says aim for 1%-2% return per month. Lol! How can you trade for living? Assuming that you need at least 3-4K per month. So you simply need 300-400K account to make 3-4K per month.
I know there are trainers here. Please stop stealing peoples dreams. Most of you claim that your course is not get rich quick scheme but it's. You are advertising like it's.
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Nobody can have 50% win rate with 1:2 RRR consistently. I'm almost sure about that. Here's the simulations i have done.
Initial balance: 10K,
Risk 1%, win-rate: 50%, rrr: 2, simulated 500 trades (~2 per day)
Results: 114509.51, 77677.79, 92915.19, 241527.18 etc...
if Risk is 2% result is something like 2,513,901.02... x250 in a year!
Risk 1%, win-rate: 40%, rrr: 2, simulated 500 trades (~2 per day)
Results: 42756.02, 34693.05, 23534.11, 36827.51
If you have a system 1:2 rrr system and your win rate is 50%, you are lying or you are lying. Because we both know that you don't have such thing.
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Now why am i writing all these? Because i have started to find some patterns 2 years ago with hope. I was almost sure that i could do this. Hundreds of times, i tought i became millionaire. But there were always bug in the system. Failed tens of hundreds of times. Most of my trades stopped by a few ticks only or missed by a few ticks.
I'm working on this for 2 years and i have nothing left. It's like addiction. I know i will not be able to profitable but i'm still on it. Even if i can find a profitable strategy i will not be able to trade because no more balance left to trade. Actually I have found one. But it's all historical... It worked last 10 years and i doubt it will work tomorrow.
I know i know, most of you will call me loser and get mad at me. You are right. I'm a loser. I accept in advance and still love you. This is just my opinions. Like everyone says, these are not financial advice
Now i can go in peace...
I honestly don't mean to overly slam you on your statement.
It's nothing personal.
But as a Junior Partner at a Closed Equities Prop firm? Your post literally sparked a journal, to demonstrate how almost every statement you made ... is false.
I'm going to demonstrate a process, live, in real-time, that has been printing money, for as long as there has been an options market. It definitely can be worked back 12 years.
Data Scientists, literally make the worst traders. I don't mean anything personal by that statement. I really don't. But my Senior Partner, was trained by a ridiculously talented Quantitative Strategy Architect. And what you're just saying ... is wrong. Data Scientists, make HORRIBLE traders. Only followed, by Spreadsheet-Guru's.
Again, nothing personal? But you need to be shown, for your own good ... that you don't have it all figured out.
The journal, can be found here: https://www.elitetrader.com/et/thre...egy-trading-journal-that-shows-profit.337303/
What's a spreadsheet guru?
I've run across them before mate.
The are people that seem to try to make trading work, by getting a "spreadsheet" formula correct. Saw one guy? I swear to God, he had like 48 different Spreadsheet tabs going at any one time. Pulling down live market data.
Couldn't make a dime.
But dear God, did he have some beautiful looking spreadsheets.
Well mate, I run a spreadsheet, best thing since they invented sliced bread.I've run across them before mate.
The are people that seem to try to make trading work, by getting a "spreadsheet" formula correct. Saw one guy? I swear to God, he had like 48 different Spreadsheet tabs going at any one time. Pulling down live market data.
Couldn't make a dime.
But dear God, did he have some beautiful looking spreadsheets.
LOL
Well mate, I run a spreadsheet, best thing since they invented sliced bread.
View attachment 212081
LOL
Subterfuge. How do we know that was pre-sliced bread, and not bread you just sliced yourself?
As for the image in the toast? That is clearly Paul McCartney.
Where's the sausages mate? NOT a proper fry up!