I’ve also been in dd for a while. The whole of October was in dd by up to £950 only picking off a few trades. This week dd has dropped to £500. Patience pays off.
Guys since our friend Baller is busy with the baby baller responsibilities, is there another high quality thread anywhere like this one to study in the meantime until he comes back?
I don’t understand, 1400+ posts, what more do you need?? Just read and implement!? There is no perfect trading system but anyone can make a logical long term trading system work. I started trading around 1995, still going strong…
good for you babes…show us your myfxbook, fxblue, investor password to examine your go strong ways or give us all the pathetic reasons why you dont have to prove anything to us etc
I gave you good free advice which you obviously do not get. So let me try again, your best chance of making money trading forex is to make use of a logical long term trading system. This is just my humble opinion after being involved in forex trading for more than 20 years.
It seems that you are more interested in lurking around and trying to provoke confrontation than in trading and making money. As you said, “good for you babes…show us your myfxbook, fxblue, investor password to examine your go strong ways or give us all the pathetic reasons why you dont have to prove anything to us etc”.
I gave advice, if you know better, good for you. If you are not interested, it fine.
This is not my thread, I am not selling anything or making any specific profit claims. If I did, yes then obviously you can ask for proof, however, I am not interested in, nor do I have any need to prove anything to anyone. I started trading long before the existence of things like myfxbook, fxblue, or investor password. I don’t use it and probably never will. I have no need for it. Should I join to “proof” to some kid on the internet that I make money? Why? I would rather work on my potential trades for this week. As I matter of fact I don’t even know why I am answering the post.
5 Likes
All good friend.
As this strategy doesn’t really take into account news and all other noise - right now things are going to be unpredictable.
Account is still going, mainly with positions opened a long time ago.
As mentioned already, this strategy is for people with patience vs quick wins.
1 Like
Good for you, especially during times like these. Glad you’re putting pizza on the table.
2 Likes
As always do your own research.
Interesting video by a pal from the UK.
It’s not real until you do it yourself.
5 Likes
Lately, I’ve bagged a few pips here and there. Nothing special.
Total is accumulating, slowly.
You can see a big gap between Sept to Nov - you need patience.
3 Likes
To add to that, we can’t beat around the bush and convince ourselves Forex is the way to become financially free. Especially during these times.
One person could become financially free from Forex, purely because their overheads and living expenses are so low - it won’t work for everyone.
You should be using Forex to create an additional income stream that doesn’t take up a lot of your time.
You can then use that to start other viable income streams, i.e. Amazon FBA.
Most successful people who are actually financially free, have more than one income stream.
4 Likes
I have never laughed so hard.
2 Likes
That is brilliant!! Too funny and spot on.
2 Likes
Glad to see its not just me who had a slow October. Just touched over the 65% mark in around 6 months. Not bad considering I’ve been trading for 8 months 
Thats awesome!! hahah Thanks man! the first one reminds me AstroFX haha
I find RSI and stochastics very helpful.
brilliant proper laugh out loud thanks
Please excuse my ignorance as I am new to fx. Can you not reduce large drawdowns when the trade is going backwards by opening an apposing trade and closing it when the market has turned. Is this even allowed? Or is it just a stupid complexity?
Cheers
It has been a bit quiet here just thought I would ask a noob question
Hi @roger_rabtz, that approach is called hedging. See here for details:
Note, in some instances it may be a good strategy, but generally, for retail traders, it’s not. Two things to consider, if you hedge one for one in position size you will not make or lose money from the trades themselves - so, why bother? The other is, by opening another trade, you’ll lose money in commissions and/or the spread. In most cases, it better to exit a trade that you think may go against you rather than open another position in the opposite direction.
Here’s another forum post that discusses:
Lastly, be aware that in the United States, for a given account, hedging is not permitted.Here’s a page that explains and discusses this regulation. It also mentions a legal workaround - have two accounts.
https://www.quora.com/Why-does-the-U-S-ban-hedging-in-the-forex-market
Hope that helps!
Thanks for the feedback StealthM93.
I was thinking that with ‘The Baller’ strategy the stop is set a long way off entry so he does get some awesome drawdowns and I may not be comfortable with that. But if I look at it in dollar value it is the same risk as smaller stops but a lot less likey to get stopped out.
Cheers
1 Like
Is this still going? haha I see some very good nuggets on the comments.
1 Like