Any reason not to trade 6E over EURUSD?
- Thread starter davewolfs
- Start date
Quote from Veyron 16.4:
Especially, those "impossible" trades where both sides lose money at the same rate and at the same time - LOL!
Amazingly small (fragile) minds.
And, what's really funny is the fact that what I do, is so incredibly simple. Anyone can do it, but it takes some creative thought to get there.
I already have the material/physical confirmation that what I do works - the numbers and results don't lie. But, what I'm getting here on ET, is the human confirmation. Often time, when people have developed something that few others have seen or heard of, it typically gets ridiculed and derided into the ground in the minds of those that don't think beyond their nose.
I call myself sharing a success story after so many years of very hard work.
I really do think my story is an anti-ET sponsor story and not wanted on this site. I currently trade with a real bank, but I often wonder what would happen to my account had I been trading with a "broker." The broker I used to trade with "claimed" back-to-back offsetting. I never believed them and that's why I left them and finally decided to use a real bank with a real banking charter and a different business model.
I don't see my bank as an ET sponsor. Hmmmmm.
I'll probably get banned for that, I'm sure.
Whatever....
What is "back to back" offsetting? I assume you're not violating Bretton Woods by telling us, where do you trade FX?
Profit without risk? That's beyond Holy Grail...
Black-Scholes thought they discovered "riskless" option pricing, only later a cool Trillion in the Red...
I don't question your sincerity. But there's a few professed inconsistencies with your method.
1 - losses incurred during flat markets. Your strat depends on movement. Your background, equity options. So I'm thinking hedged and layered options entered around BIG S.R. levels that promise a good break, either way. Vega outweighs Theta and pays for the loser. Not saying there's anything wrong with it, but it doesn't appear beyond Holy Grail-ish. Maybe I'm off-base, altogether?
2 - sample period over which the method was tested, appears small (a few months). Historically, extended flat periods occur in FX. And while the macro outlook favors volatility, it could happen again. Never know.
3 - a reference was made to 4 trades a month? Why so few? If any non-directional trade can yield a profit, why aren't you always-in to maximize potential gains?
4 - although not on-topic, directional trading can and is, very profitable. I know you're wrong about that. A little hubris, which is natural..
I'd be interested to know what you're daily % gain is? That's how i test metal against other strategies. Ultimately, its not the smartest guy or highest market-IQ, its the trader who consistently brings home the most, who wins. Good luck to you. I read your original post where your struggle was painstakingly detailed. It took me 7 years. I hope to God you found something that lasts, 'cause if not, the disappointment could be especially crushing.
One last note - any market yields TONS of false positives that can last for days or months. Then, the market changes qualitatively, in the way and range it moves. I'd make sure your sample is deep, long and historical pricing totally accurate.... u never know...
Here you go, this is it, the Holy Grail on steroids! Fibonacci levels and money management, shit why didn't I think of that!
Total unadulterated bullshit. There's nothing there which couldn't be achieved with better results by directional trading, the guy lives in a fantasy world. Years to try and reinvent the wheel and the end result is.....a wheel! Good job!
Quotes from Veyron 16.4:
In the currency spot market....If you can develop non-directional trades, then you are not naked at any time and no matter what the market does, you will always turn a profit.
No "arb." No triangles.
....using a proprietary Fibonacci derivative that wraps multiple positions around the same pair
What do the numbers: 1.000, 1.618, .715, .233, .233 and .233 all have in common
I had to "tweak" the Fib numbers
What makes it work is the combination of a powerful technical approach AND a fairly cool trade strategy coupled to some keen money management
That's about as much as I am going to give you
You're giving him far too much credit. He's trading spot with long-short hedging, which involves more risk than trading outright. Why is it that every schlub with $2,000 to burn ends-up trading some scam-FX method? Any bit-player with a legitimate strategy can/should be traded in a transparent market... OTC has many benefits; scalability, liquidity, market-impact, flexible conventions, etc., but catering to the bit-player is contrary to the model. So why trade with a bucket shop? Availability. It's the only account they can open with e-gold or similar processor, and/or all of them allow deposits under the margin account minimum of $2k. 99% are completely unregulated.
These are the legit regulatory agencies in this space: ARIF, ASIC, CFTC, FSA, NFA, SFC.
The NFA saw fit to kill the "hedging" absurdity, as it was injurious to the client, but a fool and his money will always find a way.
Perhaps I am beating a dead-horse, but I don't understand the fascination behind a guaranteed losing strategy.
Quote from OddTrader:
Some live calls, please!
Yea, it wouldn't hurt !
True, he's actually ended up with a wheel all bent out of shape!
I'm all for innovative trading ideas but from what he's posted this isn't one of them. I don't know what his motives were for posting, maybe it was an attempt to raise some capital, I doubt we'll see the guy again he's probably gone to find an 'easier' audience.