I'm back. Hopefully better and more realistic.

bone said:
This is cannonballing:
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I did that in demo account a few months ago. I'm not willing to put enough funds in my live account to use a strategy like that. It worked in demo because I had $10,000,000 fake dollars to fall back on. I only put $10,000 in my live account.

one thing I can see going wrong in my live account is that I'm trend following, but all my trades are kind of related. For example, selling eurusd while buying usdchf. It's just a different way of saying a very similar bet.
 
So you were just practicing cannonballing. ;)

One needs to treat a paper account as the real thing. There are advantages already, and if you cannot be good on paper, live is out of the question. This applies to tactics, money management and psychology.

I don't understand why non professional are drawn to Forex except for those that crave fast money. Forex is like Thunderdome ++. Isn't the Euro-USD pit still active at the CME? Talk about an additional handicap.

This might be part of the Not Hopeful and Not realistic part people like Bone are talking about.
 
Bad_Badness said:
So you were just practicing cannonballing. ;)

One needs to treat a paper account as the real thing. There are advantages already, and if you cannot be good on paper, live is out of the question. This applies to tactics, money management and psychology.

I don't understand why non professional are drawn to Forex except for those that crave fast money. Forex is like Thunderdome ++. Isn't the Euro-USD pit still active at the CME? Talk about an additional handicap.

This might be part of the Not Hopeful and Not realistic part people like Bone are talking about.
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I wasn't aware there was anything called a "professional" when it comes to trading. I thought it was people who just stuck with it until they got good. It's not like there are official degrees and certificates you can earn. (From anyone who isn't a scam artist).
 
WOW, OK. Forex is used to hedge currency transactions primarily. So every corporation of any size has to repatriate their funds either coming or going to deal with the settlement delays. So many professionals are there to facilitate that process for their clients. They are moving real funds.

Furthermore, there are professional level tools, and retail tools. Professionals will kick a retail person's ass just for giggles. Happens all the time. If you don't know how they do it, then one is an easy mark that even a Bot will take you down. They have better tools, better intel, and better support. They do it all day everyday and have gangs of them and decades of experience. They also coordinate. They get paid to do it.

Also you are probably not aware of what happened to ES when its volume dropped. The Forex volume rose significantly. I.e. a lot went to that futures venue. Talk about Megalodons swimming around you.

Sounds like some recalibrating is needed of your place in the trading world. Otherwise, chopped meat comes to mind. Best of luck. (I'm done with this thread)
 
Bad_Badness said:
WOW, OK. Forex is used to hedge currency transactions primarily. So every corporation of any size has to repatriate their funds either coming or going to deal with the settlement delays. So many professionals are there to facilitate that process for their clients. They are moving real funds.

Furthermore, there are professional level tools, and retail tools. Professionals will kick a retail person's ass just for giggles. Happens all the time. If you don't know how they do it, then one is an easy mark that even a Bot will take you down. They have better tools, better intel, and better support. They do it all day everyday and have gangs of them and decades of experience. They also coordinate. They get paid to do it.

Also you are probably not aware of what happened to ES when its volume dropped. The Forex volume rose significantly. I.e. a lot went to that futures venue. Talk about Megalodons swimming around you.

Sounds like some recalibrating is needed of your place in the trading world. Otherwise, chopped meat comes to mind. Best of luck. (I'm done with this thread)
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Yes I'm sure they're conspiring against my $10k trading account.
 
farmerjohn1324 said:
hope you have enough in your account so that a move in the opposite direction won't stop you out even if you were eventually correct,
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some one said the only difference between a pro and an amateur was that the pro cut losses FAST.
he also suggested that if you make random entries and put stop, after entry, beyond the last finished bar, you will not do badly.

if you have some simple strategies you will do well: his video of the simple strategy he suggests. i am using it now. you can search his other vids online in youtube

Trading Masterclass // 2021The Best Trading Year Ever - YouTube
 
farmerjohn1324 said:
When on Earth did I say I was going to use Martingale?
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Cannonballing is just a different term for martingale strategy. It's not groundbreaking, it's well known for thousands of years or longer. It doesn't work. Post 13 of yours said you used that
 
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