Quote from sheda:
Unlimited amount of money hey? I take it you would be trading thousands upon thousands of contracts a day then? As we all know the average FX broker can execute a 500,000 lot trade with no sliappage intra day to provide us with this unlimited amount of money you speak of once we have worked out how to trade right?
Quote from FreakofNature:
Trading consistently and bagging in excess of 40pips a day without a losing day, is a feat that would take you above Bill Gates level in a reasonable amount of time.
Who's the retard now, retard?
Quote from Xspurt:
1) About 10/day
2) Yes, he was the slowest learner I have had but then something just clicked and he because both very visually aware and fast at connecting all the dots for convergence factors in a trade. Not having any TA that I had to correct was a big help and also not having a limiting expectancy is a big thing. There is a lot of cries of "impossible" here. If you start out with that imprisoning complex it's real hard to win beyond your expectations.
3) Re. the daily MAP before trading, I look at the strength/weakness of all the time frames and then look for the TF that is most likely to boss the trade. I don't mark it on a chart, I just keep it in a notebook in front of me. Cycles trend and then afterwards they conflict against each other causing congestion and that is when it is hardest to tell what comes next because cycles morph so you have to let time do it's thing.
4)This is 2 questions. 4a) Using the time frame cycles you see when a time frame is maturing and when it is bigger than the one you are in you reverse if it is against you and hold if it is for you. It's not unusual to get into a move in a small TF and then it speeds up causing a larger cycle to become clear as a hold in that bigger TF.
4b) You can predict chop in advance most times because of two strong cycles coming into conflict. Then check the scope for scalping in that zone. Time charts are a limiting factor for scalping. As I alluded to, cycles have to self destruct after they have run a trend because the trend was due to different frequencies coming together burt the natural thing is for the different frequency lengths to pull apart and the exact opposite to the trend develops and then it all repeats.
Quote from sheda:
40 points a day at $500 a point takes us 13958 years to accumulate the current net worth of Bill Gates.
Quote from sheda:
40 points a day at $500 a point takes us 13958 years to accumulate the current net worth of Bill Gates.
Evidently...its you.
Quote from SimpleTrades:
How do you figure that? I guess you aren't compounding and instead are withdrawing the 40X$500 = $20,000 every day.
Which brings me back to this. Wasn't the starting point $10,000? At 50 to 1 leverage, maximum allowed in USA, you're restricted to a starting point of only about 2.5 standard lots ($25/pip), fully in. So, if you're withdrawing profits daily, how do you get to $1 million in a year?
So, which is, buddy: are we compounding or not???
Quote from sheda:
How did I figure that? Exactly as it was stated "consistently bagging in excess of 40pips a day without a losing day, is a feat that would take you above Bill Gates level in a reasonable amount of time"...
As per usual people who know little of the market hear "3 trillion a day" and think "woooza! I could start with 1 lot and before I know it be trading 10,000,000 lots a day! On the 1 min chart!"