Do full-time forex traders exist or is it just make believe?

atticus · Apr 23, 2013

Quote from Xspurt:

Wot's up Atticus - is my rookie making you wet your pants You really think 40 pips a day is outrageous?

Numbnuts, stay on-topic. I'm fairly certain the ES is the e-mini S&P and your 20k-car boy is as fictional as you are. And we don't talk pips in the ES.

Xspurt · Apr 23, 2013

Quote from macattack:

1. How many trades does your rookie execute per day on average?

2. Do you think he is different from an "average" rookie in some way? An "average" rookie, if left to trade without you standing over him, would screw things up in no time from what I've seen. Lack of patience, cutting gains short, overtrading, etc.
Even with small stops & knowledge of good setups a rookie would die the death of a thousand cuts.

Is it possibly because he had pretty much no trading experience before you mentored him?

3. When you say you make a map of the market (can't remember how you worded it) before the day begins do you just write down an idea of what you think may occur, or do you have a chart which you mark up with what you think may occur, or is there some other method you use?

4. How does the rookie know when to scalp & when to hold for a bigger move...........markets chop quite often, so holding for a bigger move tends to result in a lot of stops if they aren't wide.

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.

Xspurt · Apr 23, 2013

Quote from atticus:

Numbnuts, stay on-topic. I'm fairly certain the ES is the e-mini S&P and your 20k-car boy is as fictional as you are. And we don't talk pips in the ES.

Ouch! Was that crap typing from me (par for the course I'm afraid) or crap reading on your part? I'm talking pips in the spot Fx. Did I say pips in the ES? I didn't even mention anything about ES movement afaia.

But let's say for the sake of argument that he is fictional so we don't go off topic and leave it at that as I can't really speak for him.

atticus · Apr 23, 2013

Quote from Xspurt:

Ouch! Was that crap typing from me (par for the course I'm afraid) or crap reading on your part? I'm talking pips in the spot Fx. Did I say pips in the ES? I didn't even mention anything about ES movement afaia.

But let's say for the sake of argument that he is fictional so we don't go off topic and leave it at that as I can't really speak for him.

I paraphrased your "20k cars" comment, which was a reply to yet another absurd claim by you, quoted below for your pleasure.

Quote from Xspurt:
As an aside, I guy I know is one of the biggest ES traders in the world and at times he hits 20,000 contracts in a single trade which is the exchange limit. He trades from home and 6 yrs back had a small account. He uses TA and if you ask him for a statement to prove it he'll tell you where to take your statement.

You sir, are full of shit. Cocaine is a helluva drug! Now, stay with me....

http://www.elitetrader.com/vb/showthread.php?s=&threadid=263567&perpage=10&pagenumber=33

Xspurt · Apr 23, 2013

Quote from SimpleTrades:

No thanks. Waste of my time.

Careful you don't get distracted and spoil you record like Mr. Brasil. God forbid you have to log in with a new handle.

I totally agree

And may your trading be the best ever sir.

SimpleTrades · Apr 23, 2013

Quote from Xspurt:

I totally agree And may your trading be the best ever sir.

By the way, I went all in today with 25 mini lots and quadrupled my trading account. As this happened, my brilliant 9 month old baby got up on her feet, ran to me and yelled in perfect English, "Daddy, you're a genius!!"

Ol' Yella · Apr 23, 2013

LOL-- this thread is getting crazier and crazier

Trade4Brazil has blamed oldtimer for his losses and quit ET...

Xspurt and Freak have resumed their feud...

claims of trading 20,000 ES contracts in your pajamas....

Now all we need is Woody to show up with the vacation pics he promised, maybe one of him at his laptop making 32 ticks a day from his yacht if we're lucky.

In any case here's the original post that contained the ES 20K reference, just to prove I wasnt making it up:

http://www.elitetrader.com/vb/showthread.php?s=&postid=3785295#post3785295

cornix · Apr 23, 2013

Speaking of rooms, I closed any new member applications for anyone, but my capital management program clients and personal recommendations.

The more time passes, the less I like online trading communities, especially larger ones.

atticus · Apr 23, 2013

Quote from Ol' Yella:

LOL-- this thread is getting crazier and crazier

Trade4Brazil has blamed oldtimer for his losses and quit ET...

Xspurt and Freak have resumed their feud...

claims of trading 20,000 ES contracts in your pajamas....

Now all we need is Woody to show up with vacation pics of him making 32 ticks a day from his yacht.

In any case here's the original ES 20K post:

http://www.elitetrader.com/vb/showthread.php?s=&postid=3785295#post3785295

Not just 20k, but 20k orders. Guy was a coal-miner from W. Va and xspurt took him from one lots to 20k tickets in six short years. There is no limit to what xspurt can do!

atticus · Apr 23, 2013

Quote from cornix:

Speaking of rooms, I closed any new member applications for anyone, but my capital management program clients and personal recommendations.

The more time passes, the less I like online trading communities, especially larger ones.

Aren't you the guy trading a $1k FX account? Member applications? You're joking.