So far as of 07:20 NY-time, overnight Leg0nd lost 29.31%. :17:
Let me explain that I’m not a hater, just pointing out the craziness of trading “pie in the sky” HIGH REWARD and HIGH RISK methods.
Trading is really risky but if you got it right you’ll be so wealthy :57:
LegOnd, bro, what happened?
LegOnd didn’t use a SL, got so excited with yesterday’s 41% that he/she doubled-up using twice his/her typical size, and closed with a 35.13% $1.37 loss. :17:
Funny thing about the market… brag a bit too much and she will kick you right back down.
PS not trying to be a d!ck, just attempting to point out the foolishness of not using a SL and complete lack of any kind of money management
Haha hate all you guys want I’m having a blast, I can lose 50% in a day and it won’t break my tiny little account ha. Unlike you guys, my system isn’t “plug in and play” it takes serious skill to identify the correct pattern to trade. I don’t just think “oh the 50 sma broke the 100 sma, time to buy!!.” Hell no. I have to go through the 10 pairs I check every night and find the pattern that relates closest to the pattern it have been trading very successfully over the past couple of weeks. And you know what? When I have lost, I still picked the best pair to trade for the day out of the 10 I trade WITH the least drawdown. Direction is simple, my current concept is still an infant. 2 weeks old (most updated version). You tell me you have a system you have been building for a year and the most recent update to it trades at such high accuracy and high return? I would love to see it. Besides, this is why I am trading micro smart asses. When I put in a g or two in the next couple months, I want to be one hundred percent certain I’m stealing as many pips from you guys as I can consistently. I can do this all day long micro til I get it right folks, no rush to waste my savings even at low risk trading like y’all haters. You know the funny thing? If I used your risk management, that 2% bullsh** you guys use, my system + me still beats the hell outa ya’lls systems.
you’re confidence is bordering on arrogance. infact it is.
…but i can’t knock you too hard for it because tbh increasingly more and more i have similar thoughts. I just be more humble and keep it more to myself.
tbh though, i think you’re right about that “oh the 50 sma broke the 100 sma, time to buy!!” joke. those systems most of them fail in the long run and the few that do work are rare and do not tend to give worthwhile returns. 5% here, 5.6% month after. I’m not really impressed with such systems if that’s all they can achieve once the system has been mastered and lot size increased.
not really enough to give up your day job is it. unless you are significantly financially well off already.
anyways, im off out. happy trading …lol
[QUOTE=“defiance888;617483”] you’re confidence is bordering on arrogance. infact it is. …but i can’t knock you too hard for it because tbh increasingly more and more i have similar thoughts. I just be more humble and keep it more to myself. tbh though, i think you’re right about that “oh the 50 sma broke the 100 sma, time to buy!!” joke. those systems most of them fail in the long run and the few that do work are rare and do not tend to give worthwhile returns. 5% here, 5.6% month after. I’m not really impressed with such systems if that’s all they can achieve once the system has been mastered and lot size increased. not really enough to give up your day job is it. unless you are significantly financially well off already. anyways, im off out. happy trading …lol[/QUOTE] Haha. I gotcha mate. If you where me and got hate on as much as me at some point you would probably snap back like me lol. Yes I’m rather arrogant about what I am working on, I need to calm down a lil I gotcha. It’s just getting really exciting after spending thousands of hours to finally be as close to where I want to be as I feel I am today. I gave up friends, a normal life, and several passions just to spend those hours I spent to learn, fail, and research until I get what I want. I have yet to meet any other traders that are willing to sacrifice what I feel like I have at an attempt to achieve the feat I am confident I will. When your broke and no one wants to be your friend or believes in you, that all changes once your the “man who made it.” No, those who abandoned me earlier on when the struggle was real (still is) they never had a part in It in the end anyhow. Keep up the good work man, I’m sure you will do just fine in FX
You seem to think it’s all about “THE SYSTEM”. There is no perfect system and the sooner you realize that the better off you’ll be.
Price movements aren’t always predictable, for example, without any warning, Mr BIG picks up his phone, calls his broker and yells, sell, sell, sell! The price drops 50- 60 pips and surprises everyone.
Mr BIG might be a big hedge fund, intervention by a central bank, the russians, a large insurance co, the swiss national bank, japanese postal pension fund. And who knows why Mr BIG decided to sell? But he does, a lot and fast.
And often there is nothing on the tech charts, in the math, in an algo, or in the statistics, NOTHING to indicate that Mr BIG is about to sell, sell, sell! But when it happens you better be prepared and know where the fire exits are located.
In the FX market the only thing we have any control over is how much we’re willing to lose, the risk. You say 50% of your account. How smart would that be if you worked long & hard over months to nicely grow your account balance, and then let half of it disappear overnight?
Believe it or not, there are reasons why most successful traders are always loudly banging their max 2% risk money management shoe on the table. It’s your choice, keep watching your account balance go up & down like a yo-yo, or get smart and listen to the advice of folks that have real experience.
I’m glad you have given up and do not believe in a perfect system. It makes it easier for me to be the one to find it. I’m going to get flame for this but I could care less. The market is not real, it does not exist. It’s a machine that is supposedly unpredictable. Someone made that machine. Using what? Mathematics, an algorithm for that matter. Probably a pretty advanced one, and it’s up to me to reverse engineer it and crack it. I’m glad you guys gave up, I honestly am. If I can predict the machine for 40 days straight starting with one g making 50 pips consecutively 40 days straight, I will break a million and gtfo. It’s possible the government itself made the machine as a test to see who could crack it, only to tap that person afterwards who knows. I know for a fact I’m not the only one that doesn’t think it’s real, I know a lot of highly intelligent people who believe the same. Before you even try to fight back, know I will never agree with you. All the money is leveraged anyhow, you know what that means? That money didn’t exist, never did exist, nor does it exist period.
Last piece of advice, don’t get suckered into saving a few cents buying the cheaper store-brand foil, personally I’ve always found the “Reynolds Heavy Duty” is by far the best!
Oh and I’m not just saying “the market isn’t real” because I lost a trade today or I have lost trades in general. No, I have reasonable concern it is being controlled and was made by a single person. Hopefully I am wrong, I would actually like to be wrong. Either way it is 100% predictable so are many other things in life. Think about it, If every criteria is met for a tornado what happens? A tornado forms, duh! It’s all about finding all the criteria, once the criteria is found… Bingo, you have 100% accuracy. If it where so easy to find this criteria, someone would have already created the perfect system. Maybe someone already has, if they did, I am highly certain they would not share it. The weather is not 100% predictable but they get pretty damn close do they not? The market is easier to predict than the weather because unlike the market, the weather actually does have hella variables to effect it. The market has only 1 variable that cause it to do what it does and thats money. The reason behind what the money is where everyone else focuses their time on, but not me. I go straight to the source to find the patterns that make it predictable, not what comes behind it. I could care less what the interest rates are or whatever. Just like PA systems, the key is in the highs and lows and open to close which most of you trade off of anyways.
Lol not to sure what you meant by that, but I’m not a penny pincher lol. I don’t squeeze a nickel so tight that the buffalo roars haha.
Interesting conversation.
It was Jesse Livermore who said you don’t get rich from consetvative trading but you certainly won’t loose money, you won’t make any either.
I am conservative trader and I am always money managing, I trade price action this means I am 70% of the time on the right side of the order flow, the trick is knowing went to pyramid. HFT has meant that intraday movement is small so observing where the smart money is guiding the market is important.
I have nothing against orderflow traders going in big but my advice is pyramid once you are on the right side of the flow. Markets never turn on a dime so at the first sign of a turn close 75% and leave the rest to run rest assured the market will tell you where it is heading next.
I don’t trade the market. I talk to it.
Relax guys the market is our friend we just need to learn its language.
[QUOTE=“emeraldorc;617533”]Interesting conversation. It was Jesse Livermore who said you don’t get rich from consetvative trading but you certainly won’t loose money, you won’t make any either. I am conservative trader and I am always money managing, I trade price action this means I am 70% of the time on the right side of the order flow, the trick is knowing went to pyramid. HFT has meant that intraday movement is small so observing where the smart money is guiding the market is important. I have nothing against orderflow traders going in big but my advice is pyramid once you are on the right side of the flow. Markets never turn on a dime so at the first sign of a turn close 75% and leave the rest to run rest assured the market will tell you where it is heading next. I don’t trade the market. I talk to it. Relax guys the market is our friend we just need to learn its language.[/QUOTE]
Conservative trading will not get you rich. That my friend is gold. You are correct to the t. No one has commented back on this post because they know there is no valid argument against what you said. Yet you still trade conservatively? Wise until you find your superior edge which with your knowledge, I feel confident you will find it.
The market is our friend we just need to learn its language? That right there is legit my friend. The market consists of numbers. What better way to listen than through numbers?
This is great, and very entertaining. Nice to see yet another person who has their own philosophy on the market and fails to distinguish between reality and opinion whilst assuming they “know it all”. Bravo
[QUOTE=“Jezzode;617647”]This is great, and very entertaining. Nice to see yet another person who has their own philosophy on the market and fails to distinguish between reality and opinion whilst assuming they “know it all”. Bravo[/QUOTE]
Good old BP!!
Anything is possible , my mentor turned $2500 into 20K as well as every time he had spare money he would load up his account and his a millionaire now (From Forex) but keep in mind he has almost 10years experience
[QUOTE=“Leg0nd;617240”] 72% but I appreciate your support. Trading pretty much max risk btw, and losing trades that I pretty much held for an entire day. I love haters, I am no dreamer. It also doesn’t take a rocket scientist to figure out regardless of how much I currently have in my account, as long as my trading stays consistent I will turn a profit much faster and surpass your account regardless of size In several years time. Essentially being the first person to turn his $1.74 into over a million in history. Watch and learn buddy. Keep watching my journal and silently steeling my trades, while you hate in the sidelines ;)[/QUOTE]
What brokers are you guys using there’s somthing called leverage if your trading with small capital , but I agree with you 1000% though I trade with small capital my first month of trading I turned $25-$1000 I have the trade log if nobody believes me but lost it all the following month 
. But if you know how to trade possibilities are endless period & it will take time to develop the skill to trade
… see you found this thread libertyS, checked u out … whats ur sytem cost?/ bit of ramping going on?
[QUOTE=“d-pip;617494”] You seem to think it’s all about “THE SYSTEM”. There is no perfect system and the sooner you realize that the better off you’ll be. Price movements aren’t always predictable, for example, without any warning, Mr BIG picks up his phone, calls his broker and yells, sell, sell, sell! The price drops 50- 60 pips and surprises everyone. Mr BIG might be a big hedge fund, intervention by a central bank, the russians, a large insurance co, the swiss national bank, japanese postal pension fund. And who knows why Mr BIG decided to sell? But he does, a lot and fast. And often there is nothing on the tech charts, in the math, in an algo, or in the statistics, NOTHING to indicate that Mr BIG is about to sell, sell, sell! But when it happens you better be prepared and know where the fire exits are located. In the FX market the only thing we have any control over is how much we’re willing to lose, the risk. You say 50% of your account. How smart would that be if you worked long & hard over months to nicely grow your account balance, and then let half of it disappear overnight? Believe it or not, there are reasons why most successful traders are always loudly banging their max 2% risk money management shoe on the table. It’s your choice, keep watching your account balance go up & down like a yo-yo, or get smart and listen to the advice of folks that have real experience.[/QUOTE]
What he sayying is right there is no perfect system , MARKET DOSE WHAT it wants to when it wants to and how are you trading with $1 or what ever like is that even worth the time …? Or is it even enough to sustane a trade