Any long term strugglers out there?

[Turveyd]

If long term is random then rest assured short term is more random .
The difference between long and short timeframes is the noise in short term time frames - BTW nothing wrong with short term trading - , and the second thing is the costs/ATR . In short time frames the costs % wise are huge and much more than longer time frames costs .
YM 5 min ATR is around 8 points , however the ATR for 4H is around 60 .
So the costs should be : 2 points/8 = 25% for the 5 min chart and 2/60 = 3.3% for the 4H .

ROFL

If long term is random then rest assured short term is more random .
The difference between long and short timeframes is the noise in short term time frames - BTW nothing wrong with short term trading - , and the second thing is the costs/ATR . In short time frames the costs % wise are huge and much more than longer time frames costs .
YM 5 min ATR is around 8 points , however the ATR for 4H is around 60 .
So the costs should be : 2 points/8 = 25% for the 5 min chart and 2/60 = 3.3% for the 4H .

ROFL

Costs are totally irrelevant if you can't make money off it, I have yet to see anyone make consistent money off 4 hour charts in all my years.

I have turned $700 into $10,186 in just under a year from trading noise I guess do I care hell No.

Who's ROFLing ohh yeah me lol

 

[Turveyd]

If long term is random then rest assured short term is more random .
The difference between long and short timeframes is the noise in short term time frames - BTW nothing wrong with short term trading - , and the second thing is the costs/ATR . In short time frames the costs % wise are huge and much more than longer time frames costs .
YM 5 min ATR is around 8 points , however the ATR for 4H is around 60 .
So the costs should be : 2 points/8 = 25% for the 5 min chart and 2/60 = 3.3% for the 4H .

ROFL

ROFL[/quote]


Costs are totally irrelevant if you can't make money off it, I have yet to see anyone make consistent money off 4 hour charts in all my years.

I have turned $700 into $10,186 in just under a year from trading noise I guess do I care hell No.

Who's ROFLing ohh yeah me lol

 

[Turveyd]

Dax works out as about a 5% cost to me so not a huge issue at all really

 

[Surprise]

Dax works out as about a 5% cost to me so not a huge issue at all really

I don't know how you calculate this , but the 5 min ATR is hardly at 10 , and the 1 min ATR is around 3.5-4 , the costs for DAX including slippage is around 1.5 - 2 = your costs if you are trading the 5 min chart is 20% of the ATR , and 50% of the ATR if you trade the 1 min .

"Costs are totally irrelevant" !!

Good Luck !

 

[Turveyd]

I don't know how you calculate this , but the 5 min ATR is hardly at 10 , and the 1 min ATR is around 3.5-4 , the costs for DAX including slippage is around 1.5 - 2 = your costs if you are trading the 5 min chart is 20% of the ATR , and 50% of the ATR if you trade the 1 min .

"Costs are totally irrelevant" !!

Good Luck !

When I year dad I have a 15 to 30 pip spread, call it 20, I trade spot so no comms just a 1 pip spread, therefore 5%.

I suggest you stop making numbers up trying to defend your bias.

Your account is no doubt going down mine is going up who shall I trust tricky one
one.

Kids!

 

[Surprise]

When I year dad I have a 15 to 30 pip spread, call it 20, I trade spot so no comms just a 1 pip spread, therefore 5%.

I suggest you stop making numbers up trying to defend your bias.

Your account is no doubt going down mine is going up who shall I trust tricky one
one.

Kids!

You cant trade off the 1-5 min chart then put your stop 1000 points away and say my costs is 0.1% , doesnt make sense . Your SL/TP distance doesnt have control over the markets , thats why the ATR .
And the costs for the DAX is not 1 point , you have the spread/comm and you have possible slippage twice - entry/exit - , your average RT is 2 points at least .

 

[Turveyd]

You cant trade off the 1-5 min chart then put your stop 1000 points away and say my costs is 0.1% , doesnt make sense . Your SL/TP distance doesnt have control over the markets , thats why the ATR .
And the costs for the DAX is not 1 point , you have the spread/comm and you have possible slippage twice - entry/exit - , your average RT is 2 points at least .

Surely my cost is based on average profits value ?? if so then 5% is just fine!!

My SL is 10 pips, doesn't mean I only make 10pips as I don't run a fixed TP, that's stupid.

FXCM, in the day Spread cost = 1 point with no Comm's, so yes you can and I do 100's of times, thanks. goes to 2 around 5pm GMT.

And despite all this, I'm making more money than I can barely count and you aren't, think about that carefully before you believe the first thing you hear is true for ever more.

Your next arguement is I have to spend hours in front of the PC, I don't, I have tablets and large screen phones, I can trade walking around the town, at a client, in bed and to be honest if I trade for 8 hours in an entire week ( normally while watching TV ), then I've done well.

I open my charts, place a trade, watch it / manage it, close it, maybe switch off and do something else or maybe keep trading, but when it's off, it's off, no worrying about my positions, sleepless nights, pouring over charts all night long drawing random lines to back up my position.

And I'm still +1355% in 1 year

 

[oraclewizard77]

The problem with trading of charts is to consistently trade off of your setup. For example, after making a real money trade which was profitable I switched to sim to test out some other trade since I no longer wanted to risk money and continue to learn. My next trade was a loss but it was on sim. I was able to analyze the difference between the 2 trades and realized that on the 2nd trade I went against my indicator. This indicator is used as second confirmation to my PA trade setups. So its a scientific TA indicator to back up my chart reading PA skills. Its the only indicator that I use since over 90% lag that market and this one does not. When researching indicators I tested over 1,000 indicators before I found 1 that works for me. I then removed everything from my chart that did not help with making a decisions. For example why have 2 indicators on the chart that move exactly the same way. Choose one that works.

The 2nd problem with trading charts is to be able to accept that you will have losing trades. After I got in my 1st trade I was able to decide it was a perfect setup. If I was wrong I was going to stop trading for the day to prevent revenge trading. Revenge trading is bad since after taking a losing trade its like going on tilt in poker, you no longer are able to logically analyze the market and are instead trading randomly trying to make up for your loss.

To make money, you need to have a win% over 50% with your winning trades going a little more than your losing trades and not over trade. Then you just need to find one or more trade setups you like and have patience to wait to trade them. If you can prevent over trading over time you will make money. You just need to prevent yourself from taking multiple losses in a single day.

Let's also talk about watching the market. To be successful you don't need to trade 10 times in a day. For example, you should see at least 1 setup within 1 hour and if you don't want to take any more trades after that you don't need to.

 

[butterfacetrader]

And I'm still +1355% in 1 year

Thread is going off topic. But what is your total capital you're trading with? How long have you been at this? What is your long term stats? If you're only playing $500 and getting $10K, theres a good chance its not scalable. So if you put that $10K back in, you won't get $200K next year. Some strategies work because they fly under the radar. The size is so small its noise to the market. This is why retail investors (successful ones) often boast about their superior returns against hedge funds before fees, but thats because they are rolling with a small account and hedge funds have to manage billions where their market participation moves markets and gets attention of others who may try to bet against them. Totally different ball game here.

 

[butterfacetrader]

Lottery is a bad analogy. The correct one is pro cardplayers. You see, lottery is pure luck, poker and black jack are skill games over the long run.
Now how many people can make a living (not just be in the green in any given year) by playing cards? The stats are probably comparable, and it is easier to open a broker account than to travel from tournament to tournament, thus the cost of entry is less....

^ This.

Its a skill based game in that you can do better moves and dumb moves, but it is casino none-the-less. It is not blind luck like lottery or jackpot, but requires a good amount of luck more than skill. And since trading stocks can be done at home over the internet, it is easily accessible compared to going to poker tourneys. Some people live large playing pro-poker driving ferraris and private jets and the whole deal. But very small number. Same with pure traders I suppose (ones that don't do middle man stuff or earn any kind of salary). Some can be successful but most probably fail.