A Pro Talks on Designing the Optimal System

Trading Systems Free Forex Trading Systems
22

Now now…lol…here we go again…same old story. Just cause they shut down that thread there’s no need to go looking for another fight. :wink:

I know many “retired” people who go on to “consulting” after retirement, and at age 35 that’s too early to do nothing.

He didn’t say he’s 35 now; he said for the last 10 years he worked as a consultant…maybe he’s 45, or 50 now! Maybe he traded while working at the bank which allowed him to retire from the regular job grind. Why don’t you ask first before getting so sarcastic. :rolleyes:

23

Knowing how to trade does not follow that you will be a successful trader. There are many commentators on CNN who know all about the markets but may not necessarily be great traders.

There are many good strategies on here and on other sites but there will always be 95% of traders who fail. You also need to pick the right method that works for you and that is what I am trying to find out for myself. I believe many people lose their account trying out something that was shown to them as very profitable perhaps because it was not suited to them.

Have you not seen the many educational resources on brokers sites? This is because the brokers know that the more education the average punter has the more ways he will have of giving over all his money to the broker :eek:

24

George Soros i would think as a team of highly paid staff to help him develop a edge over the banks and other edge funds and traders.Iam sure he would give you his concepts but not his nuts and bolts of his trading.There are people on this board who give great insight on this board then there are others who try to improve on those concepts by adding are subtracting indicators.There are some on this board who try and inprove on concepts given who are successfull but i have not seen them give any strategys of their own?I dont see anything wrong in that.If they feel that is the edge they need so be it.There might be a sales pitch coming on this thread i dont know but the thinking i understand from the parimutual experiences i have had.

25

I’m not looking for a fight, and I don’t need to ask him anything. Anyone can see that this guy is not a “pro trader” like he claims. We all know his “system” won’t work, because it’s fundamentally flawed on every level.

He says you can double your account every week trading 1 mini lot per $1000. That’s 1000 pips per week. He claims 3-5 trades per week, so using the win/loss/breakeven numbers from his post he gets an average of 500 pips per week on each winning trade.

How many pairs even move 500 pips per week, every week?? Maybe GBP/JPY, but that one’s not on his list.

This guy’s theories don’t hold water. All he is doing is misleading newbies.

Maybe I am bitter after the “same old story” thread, but I should be. More people need to start speaking out against stuff like this. Systems such as these cause new traders to lose money, plain and simple!

If the OP has been trading for 10 years, like he claims, and is doubling his money every week that means he’s worth $3430000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000.

No, my keyboard isn’t stuck, I actually did the math… :slight_smile:

26

So after everybody has given their much appreciated thoughts we wait for the response.

:slight_smile:

27

There’s a difference between going around picking fights and calling out obvious liers.

This guy has the smell of scammer from a mile off. Really - can’t you feel it?

He’s claiming to be a pro trader, retired at 35 to Florida with an IQ above 150.

Excuse my language, but what the … do you think he would be doing here?

Sweet Pip - I very much appreciate your kind attitude towards everyone and that you give people the benefit of a doubt, which is great. Just don’t let the bad seeds slip by unnoticed. If senior members won’t call out these newbie attacking parasites, then who will? Exactly, the result will be newbies getting screwed over and nobody who tried to stop it from happening.

But sure, maybe this guy will prove to be everything he says. That would be a first though, so I’ll keep my very skeptical attitude.

You’ve been around here longer than me, so you know all this already.

28

well im 18 and have been trading for 5 months. since then ive turned $53.82 into 50million+ my IQ is 185 and im retired in bahamas. :smiley: and im worth
$3430000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000.01

im also joking about all of this:D
but when someone like walt posts on the forums saying hes some w/e its hard to believe him when he just made his first post. maybe if he built up some credability first that would change things but for now we have someone who just made their first posts claiming hes some really really smart dude thats really! smart and is worth alot of $$$$$$$$$ kinda hard to believe.
also if he could double his money every week ummmmm why isnt he in forbes? why isnt he the richest guy in the world?

29

Thanks [B]Phil838 [/B]and [B]o990l6mh [/B]!! :slight_smile:

You 2 have done a much better job at it than I could ever have done.

I am a bit more like [B]Sweet Pip[/B] in that I give people the benefit of the doubt - comes from working with homeless people.

But I could see that this character was saying some things amiss!! :slight_smile:

I was going to tackle him on the grounds of secret systems.

The only variables in any system really is the time you click the mouse to enter or exit.
Thats not a whole great deal of variables that affect the market!! :stuck_out_tongue:

Like all of you, I have long known that success is not so much dependent on what strategy you use, but rather the money management approach that you use.

[B]The 3rd Fundamental Law of Trading[/B] states…

[B]to let your profits run and cut your losses short.[/B]

Most losing traders shut down profits out of fear they will lose the little bit they have.
They fail to close losing trades promptly and thus magnify losses.
Result - a loser in the long run - nothing to do with a secret strategy.

An average strategy will lose in the hands of a poor trader but that same strategy will be a winner using correct money management in the hands of a good trader.

[B]So NO, I don’t believe him.[/B]

However, you Phil838, are of quick wit, and, being a maths teacher myself, I had a great laugh at your points about age, and then the profit calculations.
Loved the point about keyboard sticking!!!
Obviously an exponential growth graph gone mad!! :smiley:

Thanks o990l6mh, for being very up front with this guy - no holds barred.
I am sure we can expect more of these characters!!

[B]I agree that we senior members are charged with the responsibility of protecting the new traders from scams and major errors which will damage their trading.[/B]

[B]In addition I would also like to see the Administration be a bit more forthright in banning nuisance posters who post nothing of consequence but instead sling off and abuse us senior members!![/B]

[B]PS…Phil’s post #21 is the most humorous post I have seen ever since I joined this forum several years ago!![/B]

30

[B]Thank you,[/B] but I don’t think we need you to call out these newbie attacking parasites.

You truly don’t give newbies enough credit for doing their own due diligence. And give way too much credibility to the [B]“senior members”.[/B]

You have completely dismissed the “rectal-exam-like” application process newbies need to go through to open a live account. My first live account was with CMS. The application was eleven pages, plus I had to fill out a two page “Additional Risk Disclosure Statement”. Plus copies of government-issued photo ids, utility bills for address confirmation and on and on… My second account was with Oanda and also went through the same kind of exam.

I won’t mention any names but IMO a good number of the [B]“senior members” [/B]here at in babypips land can’t trade their way out of a paper bag. They all have great intentions, mean well and truly want the best for everyone. But I wouldn’t suggest you follow some of them to the hot dog stand let alone trading.

My point is, if a trader has done their due diligence, is sensible enough to have opened a “live” account and has started trading they aren’t very likely going to fall for some scam or silly trading system posted by somebody online[I](even if it was posted by a senior member).[/I]

I don’t think your [B]“OVER PROTECTIVE WAYS” [/B]is really serving the babypips community, and maybe the cause of too many [B]“Threads gone bad”. [/B]

[B]thanks![/B]

31

It is also about trying to keep scammers away from here. Do you have a problem with that too?
There have been numerous examples here where newbies have been drawn in by scammers, Skalpist was one example of that and there have been several others.

I guess your attitude is that we who know better should shut up and just watch it happen over and over again?

It’s their own fault if they’re stupid enough to be conned, right?

I disagree with that. This whole site is called Babypips and is for newbies. It’s IMHO supposed to be a place where you can learn without being exposed to scammers.

I guess you must think otherwise.

And btw, what does your “rectal-exam-like” application process have to do with anything? Does it make you immune to scammers? If so, I didn’t know that.

edit: and btw - no, of course people who trade live would never be stupid enough to be scammed, Madoff is a great example proving you right… not.

[B]thanks yourself[/B]

32

Okay… :slight_smile:

33

Sorry [B]d-pip[/B], with all due respect, I am going to disagree with you and back up the statement by [B]o990l6mh[/B].

I have been on this forum 2nd longest together with [B]Dale Paterson[/B], and [B]Rhodytrader[/B].

In that time I have seen a great need for the protection of new traders.
The many types of questions they ask is convincing proof of that.

Having been involved in most of the troll bannings, I know from personal first hand experience with countless private messages behind the scenes with the other [B]Honorary FX Members[/B], that the removal of the trolls has been our work in checking them out, then notifying the Administration who asks for proof of certain matters.

We provide the proof.

I wish to thank the vigilance and co operation of all the [B]Honorary FX Members[/B] in that regard.

I can think of many occasions when new traders have been saved from potential disasters because of our unrelenting tiresome work to help them.

I know from memory that I have saved several brand new traders myself.
Much of this work is unseen on the forum - it goes thro private messages, unseen to the forum, because it is no one else’s business.

Obviously, in your case, you know what you are doing. :slight_smile:
But there are people coming on here who do not - I get some of the most naive private messages, proving beyond doubt that these people need protection.

Finally, I needed protection too, when I started trading the stock market.
I had a mentor who took me thro and pointed out dangers to me and showed me the correct directions. :smiley:

34

Maybe you’re right and I’ve over estimated and given too much credit to newbies…
But with some “senior members” there seems to be something more going on than just protecting new traders…
Anyway…I’ll leave that for another day! :slight_smile:
appreciate your reply
thanks!

35

What do you think is going on?

I’m not trying to pick a fight or stir up trouble, I’m just curious. I don’t see anything that points to any of the longer-term members having any ulterior motives.

We really can’t win in situations like these anyway. Quite a few traders got suckered out of $200 each by Skalpist a couple months ago. I got blamed for being too hard on him by some people, and attacked for being too soft by others. :slight_smile:

38

Gee, I must have been asleep when this was going on!! :o

Why did someone not alert me? :confused:

I would have scalped this Skalpist!! :smiley: :smiley:

39

You know maybe all that needs to be said is, [B]caution newbies be careful,[/B] [B]the person that posted this thread doesn’t sound legitimate.[/B] Then move on and be done with it.

thanks!

40

Good point there, but the trouble with these pests is that they don’t care about your warnings and just grow on this forum like a big fungus!! :smiley:

41

Wow, I don’t sign on for a few days and look at all this stuff.:smiley:

The areas I have worked in over the years overlap. I’m 49 now.

Small error in the original post. Theretically, you should be able to
double your money every month, not every week.

My average winning trade is 420 dollars and my average losing trade is
about 40. The holding time on the winners is up to 40 days.

I really did retire on my market winnings.

I’m not a “scammer”. I’m not selling a thing. I just wanted to share some
ideas I have about trading. I believe that if you come up with a unique
system, you can do very well.

I’ve been busy with other projects the last few years, but I have some
free time on my hands now, and I have started trading a 1000 account
to see if consistent trading runs up profits like I said it would.

I don’t mind sarcasm. It never hurts to take everything with a grain of
salt…

42

I’m glad you’re back and I hope you keep posting your thoughts and methods. So what did you think of the comments posted by the best & brightest (aka FX-Men Honorary Member) of the babypips community? Friendly and welcoming aren’t they! I’m sorry for their behavior but I’m sure you’ve got them figured out!

thanks!

edit: Sorry Sweet Pip, I didn’t mean to include you in the gang I should have written - [I][B]some [/B]of the best & brightest (aka FX-Men Honorary Member) of the babypips community[/I] :o

43

Yes you need a truck load of salt around here …:smiley:

I, for one, can relate to some of what you say and haven’t seen anything to suggest you’re a scammer (yet anyways…lol). I am in the middle of reading Robert Miners “High Probability Trading Strategies”, that includes momentum, ABC patterns, price, and time, and if it’s relatively close to what you’re doing then I too would be very interested in seeing where it would take a $1000 account and I would like to get some intelligent trading dialogue going here about those ideas…:).

So hopefully you won’t get sidetracked with feeling the need to respond defensively to every naysayer here…that’ll just get the thread shut down. :cool: