who is still profitable in the forex?

Quote from Brandonf:

Ive made about 140k in the last year trading

I'm not going to make a bet that I dont know Im going to win.
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You simply don't get it do you, seriously, you just can't seem to grasp simple concepts like risk, reward, return, and performance, all very basic elements of any financial investment not just trading.

Saying you made 140k from trading last year means absolutely nothing in this context, it's as meaningless as your competition idea of 'let's see who makes the most money from trading'.

And saying "I'm not going to make a bet that I dont know Im going to win" is just further evidence of your lack of trading savvy (if any more were needed!), you don't even understand the basic concept of trading itself!

I assumed you knew what you were doing until I read these posts of yours, you've just lost any credibility as far trading is concerned.
 
Quote from cabletrader:

You simply don't get it do you, seriously, you just can't seem to grasp simple concepts like risk, reward, return, and performance, all very basic elements of any financial investment not just trading.

Saying you made 140k from trading last year means absolutely nothing in this context, it's as meaningless as your competition idea of 'let's see who makes the most money from trading'.

And saying "I'm not going to make a bet that I dont know Im going to win" is just further evidence of your lack of trading savvy (if any more were needed!), you don't even understand the basic concept of trading itself!

I assumed you knew what you were doing until I read these posts of yours, you've just lost any credibility as far trading is concerned.
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Ok here, here I'll give you some more specifics ok :)

I keep $100,000 in the account. The maximum drawdown I've had has been $8400.
 
Quote from cabletrader:

You simply don't get it do you, seriously, you just can't seem to grasp simple concepts like risk, reward, return, and performance, all very basic elements of any financial investment not just trading.

Saying you made 140k from trading last year means absolutely nothing in this context, it's as meaningless as your competition idea of 'let's see who makes the most money from trading'.
More...

Here is what you don't seem to grasp. Sharpe Ratios, upswing vs downswing doesnt pay the mortgage, doesnt put your kids through college and doesnt put food on the table.

The banker doesnt care if your $1000 account has grown to $2000 this year and you've never had a drawdown of more then 10%....that doesnt help you much.

Brandon
 
Quote from Brandonf:

Here is what you don't seem to grasp. Sharpe Ratios, upswing vs downswing doesnt pay the mortgage, doesnt put your kids through college and doesnt put food on the table.

The banker doesnt care if your $1000 account has grown to $2000 this year and you've never had a drawdown of more then 10%....that doesnt help you much.

Brandon
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Maybe the States is much cheaper than the UK, I don't know.

But how does $140k pay the mortgage and put your kids through college. Hell over the water I thought you even paid for your health care even if you were poor!
 
Quote from NY0BScalper:

You're missing the point, Market Surfer. I'm not disputing his track record. I can say with honesty that I have outperformed him in the period he has been on Covestor as far as percentage return and actual dollars earned from TRADING (not selling, I don't sell anything), and therefore I am not particularly impressed... especially since he trades things so illiquid that his subscriber's participation naturally leads price in his direction. Regardless, he could be the best trader in the world since he started on Covestor, and that wouldn't change one key element: He's a giant tool. He's not "a character," he's a tool box. A perennial giant douche. There is something more important than money earned... a basic human quality which this guy lacks.

He will be flamed on ET forever because of how he shamelessly promoted himself here through controversy and starting flame wars to incite book sales.

I am not calling him an idiot. He is making more money than me, with less work and stress. He is intelligent. However, he is a flaming tool, and your willingness to look past that says volumes about you.
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no sweat, man. your welcome to your opinion, and i see your point--however, knowing tim, i disagree with you. it's no big deal, its what makes things interesting.

best, surf
 
Quote from Brandonf:

Here is what you don't seem to grasp. Sharpe Ratios, upswing vs downswing doesnt pay the mortgage, doesnt put your kids through college and doesnt put food on the table.

The banker doesnt care if your $1000 account has grown to $2000 this year and you've never had a drawdown of more then 10%....that doesnt help you much.

Brandon
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Ok, you obviously don't understand the point I was making. There are industry standard ways of presenting and discussing trading performance, pretty much every experienced trader knows that just quoting dollar figures in the context you did is meaningless, I thought a self-proclaimed trader and mentor would know basic stuff like this but evidently I was wrong.

Don't worry about it, the punters will probably never notice :D
 
Quote from Lon Eagle:

Maybe the States is much cheaper than the UK, I don't know.

But how does $140k pay the mortgage and put your kids through college. Hell over the water I thought you even paid for your health care even if you were poor!
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I think that the averge family earns something like $30/40K a year.

In terms of health care we have our good points and bad points, one very bad point is that when you have insurance, most people will run out when the shit really hits the fan. That's exactly what happened to me and it cost me millions. http://www.elitetrader.com/vb/showthread.php?s=&threadid=148006&highlight
 
Quote from mounafia:

I have been trading the forex for 3 years...profitable every weeks for the last 8 months.

However for 3 weeks now, I am getting sick. I finish every day negative and I feel like I am back at the beguining.

I know that it is the market that does not fit my strategy and that I will have better time later...but I just want to know if people are able to manage gain in this type of market and what kind of strategy you are using (scalp ?):confused:
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you also have to consider that your "profits every week" for 8 months does not mean you were ever a successful trader.

You may have been somewhat fortunate by trends in your instruments, etc. etc.

I consider a "successful" trader as someone who has been pretty profitable for at least a few years." You may simply have been the recipient of being one of the lucky few among a large population of world traders. If you have 200,000 traders, you are going to get at least a few hundred who were randomly "profitable" for an 8 month period and confused it with having "arrived" as a trader.
 
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