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Patience
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Technical Analysis Skills
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Fundamental Analysis Skills
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Perseverance
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Money Management Skills
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Positive Mental Attitude
- Balls
*fundies are optional
*No such thing as luck…not making you a profitable trader over time at least.
Shouldn’t be relying on luck.
Do need confidence.
Do need a marginal amount of technical analysis.
Need an in depth knowledge of fundamentals.
Need to be self aware and extremely self disciplined.
Above average intelligence.
Ability to be an independent learner and thinker.
Here’s my brief trading performance to actually qualify me to answer.
Not having a psychotic mind set. Delusional is what kills it…
Balls for both male and female traders…
One Month of being profitable doesn’t qualify you any more than anyone else.
There are profitable traders that don’t do traditional fundie analyses. Fact. 
Yup!
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Okay. Show me yours
Those that don’t, aren’t going to have my equity graph. Divide it by ten and add a lot more chop.
Mate, your Sharpe ratio is .03…
Good catch. Myfxbook actually incorrectly calculated it on this update. It’s 0.14
How about 6 months, 1 year, 2 years, 3years of track record of consistent profit? Showing ONLY 2 months (in this case, less than 2 months!) is not consider , as of yet , a profitable system…
You are going to say 202% is not profitable? That’s an interesting position to take.
Nope…not yet atleast… Wait atleast till the end of the year.
He can’t show more than a Month. Next…
Nobody is disputing that. But is it sustainable?
You blacked out the balance and equity. Who’s to say you’re not trading a measly $100 account? Would you take the same risks on a $100k account?
Good job on the positive growth, which is more than most traders (especially newbies) can claim. But 1 month is not enough time to generate a track record. I could trade overleveraged for a month and have a good chance my account came out looking like that. But will I? No, because it isn’t sustainable.
By all means, carry on. Without knowing your strategy these are all just baseless assumptions. Always great to see someone make it in Forex.
It started as a four figure account. The reason I showed it is that most on here will state their opinions on these type of threads, and there’s no proof that they are in anyway qualified to. If 202% account growth on a 4 figure account in a month doesn’t qualify me, then at least those reading my opinion are educated on it and came make a more educated decision on whose opinion to weigh tis all.
A successful trader should be consistently profitable through the years to come not just in a month. Look into it as a long term goal. I know that feeling having 1 or 2 profitable months but there will be times/months that you will not. It is good to see your impressive growth and I have had those too but just don’t get that over your head… Stay focus and keep doing what you are doing of what makes you successful this pass month. I am not sure how long you have been trading and how long you’ve been profitable besides of what you are showing right now…
Keep at it and hopefully it will continue on through out your trading career… Goodluck!
Not to beat a dead horse, but WHIP WHIP, here is comes! Saying your profitable is one thing. Claiming to be a profitable trader is another. Being profitable for one month does not make you a profitable, or professional trader. Therefore, no offense dude, I really wouldn’t want newbs following you until you prove yourself over 1-2 years.
I once concocted a system that gained roughly $7k per day on a $50k account. I did this for kicks. It even worked for the most recent 3 weeks that I tested it on. It had an enormously high win rate, but the average losses were significantly larger than the wins. Big surprise, when I picked a random time period from a couple years back and back tested it, it would’ve blown my account faster than your trading record has been disputed LoL
On a more serious and sincere not, unless you have back tested multiple years of data, please be careful. Your stats are as follows:
110 trades in 1 or 2 months - you’re probably over trading
Average Win Size - 12.93 pips - that’s pretty small
Average Loss Size - 28.20 - that pretty large given how small your average wins are
Average Trade Length - 12 hours!! For 12.93 pips?? Dude?!?!
Even with your high positive expectancy, this is probably a recipe for disaster. I don’t trade a ‘system’ but I have in the past and I believe the saying goes ‘A system works great, until it doesn’t’ i.e. before you know it, this scalping method will no longer work, and your account will be blown before you figure out whats going on.
We could all be wrong about this, but please, take advice from cumulative years of experience and be cautious.
Good Luck!
I agree. There is no “system” and I don’t trade a system. The fact that I included fundamental analysis as part of the requirements for a successful trader means that I can’t be trading a system. I am 100% a discretionary trader. I don’t have a check list that I go down marking off technical rules and what indicators are doing what before I allow myself to open a trade. Each trade is unique, because the market is never in the same situation twice. Sure a chart pattern may occur that looks close to one that has occurred in the past, it doesn’t mean it will behave the same and the fundamental situation that the two similar patterns occurred in are absolutely not going to be the same.
Without knowing what pair I’ve been trading most, the average trade duration is meaningless. I could be trading a very low volatile pair and nail the entry within a few pips, and still have the trade take 10 hours.
I think poor performance is a qualifier for the term “over trading”, and that hasn’t been the case. Nothing wrong with taking 110 trades when each trade expectancy is 3.2 pips. As long as I am not forcing trades (I’m not) it can’t be described as over trading.
It’s interesting you say you wouldn’t want newbs following me unless I had a year track record to show. But I have shown a track record at least. I’d say showing the last month of trading at a 202% profit beats claiming to be long term profitable with no proof whatsoever no? Lots of opinions get passed around here, but rarely do any demonstration that they are coming from someone who is actually making a profit.
Anyways, thanks for the input and I’m sure ill be posting more updates on the account in the future.
No offense dude, but it’s pretty clear ‘you don’t know, what you don’t know.’ Keep studying and take it slow. No need for chest puffing, humility is always a couple trades away.