Agreed. I am guessing you are equally new to the trading arena? The guy does have 10 years under his belt which is more than me. So if he can’t turn it around he ought to find a new profession or instrument to trade.
Also, I find in these forums one can only converse and share trades with already experienced traders and if newer traders find it useful then great. There are a lot of people who are looking for apprentices to make money off but for the most part it should be about experience sharing and community building. Trading is a lonely game so it is not the kind of thing that makes for pillow talk or dinner conversation. If you trade in a large hedgefund then your mates are traders no issues…
Anyway, if you are not trading professionally, you are wasting time and likely money because spot FX is not the best instrument to start with. It also requires an extreme money management ability, what most don’t know is, if you trade for a prop firm they may have more funds but they usually have a max daily draw down of $500 per trader per day with a max drawdown of $1500 overall before you have that conversation with the firm Oh! you can’t open 10k positions. You are expected to make $4,500 a month to keep your seat. So it is no joke… In those firms people have no choice but to turn $1500 to $10,000 in a matter of months.
These conditions can only be achieved if you are under the required pressure to do it. Plus you have to not only know the business but be skilled. Most people are not skilled in their current profession that they have practiced for years. In my opinion it is only worth engaing serious traders who earn their keep from trading not wannabes with some cash to throw away.
So if the dude says he is making money, I ask do you trade for a living? If he says no… I say f@@k off. If he says yes, then I say, mess up and you won’t eat let alone trade again the next day on a hungry stomach. I traded part time for a little, soon I couldn’t focus on work, so something had to give and that was after initially taking months at a time off my real estate work to trade and relax. Now I trade full time and my returns jumped simply because my focus was just the trade. I am in business with another so I know if I f@@k up we are both broke and homeless and I have kids, house, car, the works…
A bit different from the post results wannabe types.
Then you’re guessing incorrectly if one of his most recent posts is anything to go by.
It looks like he either has or does work in a brokerage/dealer type role judging by the ‘other side of the screens’ comment.
double 6’s comments don’t have anything to do with this guy turning it around. He was suggesting that if these guys were going to come onto the forum making claims about how competent & successful they are, then they should be prepared to show evidence of these claims & boasts if challenged to do so.
What’s being suggested is that if this guy or anyone else sets themselves up as potential mentors, tutors or trading instructors they should be prepared (if challenged or requested) to show evidence of this experience & apparent success by providing a track record from either their broker or a 3rd party verification source to confirm they’re suitably competent to present such info.
There’s no point whatsoever for novices investing time, effort & money in someone who can’t actually do what they claim.
Conversation, sharing of views & general banter is something very different indeed.
Anyway, my point was that I am not exactly shocked, most people who are traders can make a fairly descent income from trading but it requires dedication like any other profession.
Being a broker, dealer or even market making banker does not make you a good trader. Banks either take on proprietary traders, very rear these days or take on market making bankers incorrectly described as traders by most people. A lot of these people cannot trade the secondary markets and fail when they try not to say they don’t have the cash.
All I am saying is I wish the guy luck… The proof thing is childish but he did it, so good on him.
But he most definitely hasn’t complied with it, certainly not sufficiently enough to satisfy anyone’s genuine request.
If I was new to trading & discovered a forum/thread supposedly inhabited with successful experienced traders, the very first thing I would do in the absence of any visible evidence of an established track record would be to enquire about & request it.
In fact I can’t understand why more newbies or less experienced participants don’t insist on pursuing that perfectly logical & sensible option prior to rolling up their sleeves & getting involved.
If someone is prepared to take people on blind faith in this game they deserve to have their time & money wasted.
To be honest anyone serious about discovering if this business is for them won’t waste too much time in these places once they’ve quickly filtered out the empty vessels.
As you say, forums are ok for a bit of banter, community interaction & the odd interesting thread or two. They’re also fine for familiarising oneself with basic, entry level educational & industry info, but that’s usually about as far as it goes & there’s plenty of evidence contained within Babypips & other similar forums to draw that conclusion.
Well there you go… Personally I won’t look for mentors on babypips, there are a few good traders here and based on our long conversations I know they are good because we have had consistent contact and the only reason we are in this forum is because we learned a lot from here, like I said whether you are a banker or novice, you can either pay for a course of self learn when it comes to secondary markets. Almost 5 years ago discovered babypips I never actually used the forum till 2 years ago, so I have a connection.
Besides that I find it simply a negative sphere which has taken a lot to inject positivity as a place to learn about FX rather than a place that puts people off. Admittedly if you have failed in the markets you are not exactly going to be positive about it. So most people have a burning desire to prove everyone a failure, after all how would it look if all these newbies keep making a killing after a year while for you it is still breakeven at best? So I get that desire to see proof…
I think more about some HM Revenue dog scouring the forum, sees you doing quite well posting you thousands, tracks your name, address and then sends you a letter investigating you for tax evation. Before you even say anything… I use to post all my trades as they are placed and when they end and what they liquidated at until one forum member decided to find me real name and address and post it on here because we had a disagreement. At that point I decided it was no point sharing any personal info.
[QUOTE=“emeraldorc;661872”]I think more about some HM Revenue dog scouring the forum, sees you doing quite well posting you thousands, tracks your name, address and then sends you a letter investigating you for tax evation. Before you even say anything… I use to post all my trades as they are placed and when they end and what they liquidated at until one forum member decided to find me real name and address and post it on here because we had a disagreement. At that point I decided it was no point sharing any personal info.[/QUOTE]
You should be paying taxes if you are making a killing. If that is a concern then that means you are evading taxes which means you should be caught.
Also just a general statement on the topic, a myfxbook account link is THE ONLY valid proof of performance evidence. Screenshots of statements, screenshots of performance trackers, and posting trades on a thread aren’t really worth squat.
myfxbook & similar comparative trackers are only matched to MT4 linked accounts & are therefore useless for any other broker verification history.
There is nothing wrong with showing broker related blotter history. It’s not as though there’s a extended queue of thread vendors snaking around the corner requiring inspection.
It’s a simple request & an even simpler task to flip through the archives & capture the necessary information.
It’s also very straightforward & effortless for thread vendors & those boasting of consistent profits to post up the prior weeks broker execution history each weekend from their account logs to verify & validate their activity.
Dude this is not an argument, I am not looking for customers or to mentor anyone, if I am honest I want you all to keep failing so I can always be on the opp side of your trade and the market remains liquid. I am no novice I worked my a@@ off to be in my position.
Can’t give a f@@k about your proof bullsh@t, your problem mate. Secondly, you took my post out of context… I post on my own thread with guys I share with and was not advertising to newbies it was more about showing my exact entry, I use ctrader from FXPro so I can show actually deal map, so the guys knew what I bought and the actually USD figure, this was helpful from trading room perspective so we knew what price levels were significant.
Stop blowing smoke up my a@@… You are the guy who likes paying taxes. This is for you Silver & Gold - Hidden Secrets Of Money Ep 1 - Currency vs Money - Mike Maloney - YouTube Muppet! Please watch all six, the only education I can find for your level of understanding. I live in the UK, I pray you are a disillusioned American a phenomenon common in that part of the world, allegiance to the flag and all… Such crap… I won’t pay a dime in tax if I can help it especially when that sort of cash goes to fighting wars and paying civil servants and MP’s expenses. You keep paying.
This tape stops now. Go find your proof of life elsewhere. This is a game I don’t play. It’s like saying show me your bank details… Like I said good on the opp, hence I don’t make any claims I just trade and get on with life. My FXbook and all that data harness bull****… Good luck! Not hard to know the time wasters in this business.
[QUOTE=“emeraldorc;661879”] Dude this is not an argument, I am not looking for customers or to mentor anyone, if I am honest I want you all to keep failing so I can always be on the opp side of your trade and the market remains liquid. I am no novice I worked my a@@ off to be in my position.
Can’t give a f@@k about your proof bullsh@t, your problem mate. Secondly, you took my post out of context… I post on my own thread with guys I share with and was not advertising to newbies it was more about showing my exact entry, I use ctrader from FXPro so I can show actually deal map, so the guys knew what I bought and the actually USD figure, this was helpful from trading room perspective so we knew what price levels were significant.
Stop blowing smoke up my a@@… You are the guy who likes paying taxes. This is for you Silver & Gold - Hidden Secrets Of Money Ep 1 - Currency vs Money - Mike Maloney - YouTube Muppet! Please watch all six, the only education I can find for your level of understanding. I live in the UK, I pray you are a disillusioned American a phenomenon common in that part of the world, allegiance to the flag and all… Such crap… I won’t pay a dime in tax if I can help it especially when that sort of cash goes to fighting wars and paying civil servants and MP’s expenses. You keep paying.
This tape stops now. Go find your proof of life elsewhere. This is a game I don’t play. It’s like saying show me your bank details… Like I said good on the opp, hence I don’t make any claims I just trade and get on with life. My FXbook and all that data harness bull****… Good luck! Not hard to know the time wasters in this business.[/QUOTE]
Wow. A little too confrontational especially since the part of my post regarding myfxbook was not directed towards you, and even if it was, it was not a request to see proof of your performance, of which I could not care less about. It was rather a statement regarding the flaws of a screenshot or posted trades which can be edited and are hard to track and may not include trades that went poorly. You may want to go back and re-read the comment you wrote this blustery reply to, and take some blood pressure meds lol.
Now, honestly i don’t need to prove anything to anyone but i did come here and made myself known for the mere fact of helping those who needs help. I will not offer any more proof, but I will continue to post my trade charts.
As mentioned, I’ve been doing this for 10+ years, but not until few years ago I started doing it professionally. Is it the only thing I do? YES it is. Thank God, forex is the only thing I know like I know my own name. I have seen every move that the market has made. Just like everyone else, I do have losing streaks, 3 sometimes 4 but I’ve learnt to push through the losses because I confident my strategy. At the end, I come out winning.
Hey Prince and anyone else, I will help you in any way possible. Just let me know… It just hit me, that many persons that has decided to trade, may not only “want” to trade but “need” to. The economy is so F’d up right now with so many persons without a job, forex has become a means to an end for many.
If I can give back a fraction of what I’ve gathered over the years, I will help. Many people pray for miracles in their lives, I pray to be a miracle to someone and by me having that mindset, it aligns me with God to provide me with the wisdom and knowledge to not only benefit my needs but the need of someone truly in need. Trading is not for everyone, but if I can be a blessing to one person, i’ll be satisfied.
Hey Prince and anyone else, I will help you in any way possible. Just let me know… It just hit me, that many persons that has decided to trade, may not only “want” to trade but “need” to. The economy is so F’d up right now with so many persons without a job, forex has become a means to an end for many.
If I can give back a fraction of what I’ve gathered over the years, I will help. Many people pray for miracles in their lives, I pray to be a miracle to someone and by me having that mindset, it aligns me with God to provide me with the wisdom and knowledge to not only benefit my needs but the need of someone truly in need. Trading is not for everyone, but if I can be a blessing to one person, i’ll be satisfied.
fxmentor, if you are looking to build a trading room, that is fine. I think you should run a live trading room everyday and market yourself. To be honest you will be no different from the new style hedgefunds that part manage and part educate similar to Anton Kreil and the likes. In my opinion it is the way to go these days, if you understand the business then you should educate at some point. The share volume of people trying trading if the number of educators don’t grow, then at some point the business will be regulated and that will affect all traders.
I have nothing but love for the guys who want to educate and are good at it. In the end all any individual needs is teh basics and they will perform against their own ability. It is like university, many of us are now smarter and more successful than our proffessors. It is the way of the world…
you are being far too hard on people asking for proof
throughout the internet there are hundreds … no infact thousands of threads worth of forex systems claiming to make money. and the majority of them are not profitable in the long term and will ultimately draw down your account even if you do things EXACTLY how the OP describes. People do not have the time required to give their 100% to trading and following and learning from every single thread in the hope of finding that needle in the haystack thread that actually does what it says on the tin.
the smart traders eventually learn to ask the right questions in order to help filter out the BS threads and the people who don’t know what they’re talking about. It can take weeks or months [sometimes even longer ]to get a good grasp of a trading method and how the system works and to trade it properly. If a person depicting themselves as profitable truly is profitable then more often than not they tend to be happy to prove it. If they are not profitable in the long term what you tend to get is excuses or reasons why they can’t display their account.
you seem to not want to display your myfxbook. i personally am not particularly bothered by this as i am not learning to trade from you. but i can totally understand and condone if someone were looking to learn from you… them asking for it. If you don’t want to display it due to tax evasion reasons or fear of being doxxed then that’s your choice. the choice i would take in that scenario would be either to dismiss you as charlatan and move on. or if i really liked your system and had a “gut feeling” it would work i would devote 2 weeks MAX to it, and if i wasn’t in profit after 2 weeks i would move on. without some kind of proof it is actually profitable i cannot afford to spend any more time trying to master it.
weather you are profitable or not, i think it’s wrong for you to put down traders who ask for proof of the people who are trying to teach others claiming to be profitable. these traders don’t want to waste their time on unprofitable systems, and many people claiming to be profitable on forums lie.
with so many charlatans about it’s essential to ask the right questions.
screenshots are not good enough for proof either. i have been duped before by selective screenshots. they’ll give you a screenshot of a good day with plenty of wins, but neglect to show the days with big losses.
Guys I don’thave an issue with someone saying, is it okay to see your performance. What I object to is people immediately calling people liars if they mention profit. Personally, I find it more interesting to post my ideas or trade, if they play out then great, I traded, if they don’t then they don’t but the fact that I am happy to share those ideas prior to knowing the outcome should indicate that I am not in the teaching business rather I am looking for traders both old and new to stop being cowards and jump in and be willing to loose some Dollars like the rest of us. If you want to ask me why I was on the otherside of you trade I’ll tell you, it is about respecting the other guy. After all he has an idea hence he took the wrong side of my trade.
So not really harsh just realistic. Sharing FXbook, etc is proclaiming some kind guru ego mentality. Everyone drawsdown sometimes you can’t pay your self for a whole week but when you come off it then you are happy. In this business you haven’t worked till you have drawn down. So makes no sense all this profit hawking. In anycase I don’t want customers just feel it puts a sour note in the forum from all these nay sayers.
Not when they’re intending setting themselves up as credible, experienced dispensers of trading knowledge it isn’t. If that’s their intention they should come armed with a verifiable track record to confirm their status & cement their claims.
If they can’t then the smarter members can simply side step them & let others waste their valuable time becoming immersed in the next major drama usually associated with these characters.
A leisurely browse through the archives will reveal the chaos & turmoil caused by these individuals, that could have very easily been avoided & nipped in the bud if one or two early thread contributors had pressed them to address these two points:
[B]There’s nothing wrong with genuine folk starting & running instructional threads or making impressive claims of successes providing they can back it up with evidence via a consistently successful track record.
[/B]
You can moan & complain all you like, but rather than cast a sour note throughout the forum it actually serves to enhance & raise the standards. It also ensures those who intend to establish themselves as purveyors of knowledge prove their mettle beforehand if they wish to be taken seriously & cultivate a presence.
The end result will hopefully be a higher quality environment for newbies to learn & benefit from.
This is a drum worth banging & is long overdue in my opinion.
Its the start of a new trading week. I urge all newbies to focus on what important, and that is create a plan to trade and trade that plan. I spent many years and lots of money learning the hard way and never really trading without a plan. Imagine taking your family on vacation and you have no idea where you are going but as you start on your journey you are trying to figure out your route. Know where you are going before you start your journey. It will save you the emotional roller coaster ride.
Word of advice… Take screenshots of every single trade you enter and exit as it will be your trading dairy. Make notes as to why you enter the trade and exit. Later, its used as a guide to your entries and exits.
hello, nice story and happy to see that things worked out for you and I guess I really needed to see a story like this. Actually I am interested in doing this business full time but I just don’t simply understand that how can we rely on a strategy and hope that it will work for the rest of our life and I have not even got a single knowledge about the fundamentals as I have only learned technicals like have studied different strategies, patterns etc and trying to make them work for me and I have been profitable for the past 2-3 months but I don’t have a plan I know where to put my tp but I don’t know where to put my sl as I trade from the daily timeframe I just put a wider stop loss not caring about my risk reward as I don’t have any plan made up and that is why I need your help what should I inculde in a plan how should I make one i am confused in that and may I ask that which tf you use to trade just wondering?
