Look, i got some others thousands of extras pips.
Ok i got some losses but they’re just ridiculous compare to my profits.
Hello drefhill,
It seems your trades are working out for you (so far). I am dazzled by your results and I couldn’t help to see more. How about you open up a new thread and show us how you do your trades with the use of IP trading strategy? Your Myfxbook will be a must though so you have to post/link that as well…. This way, we can learn from you since you are so generous enough to “show” your results might as well go all the way and “show” us everything you’ve got :)… maybe I could learn from you and other newbie as well…
….otherwise, I will be glad to assist you thru our exit door so you won’t get lost….oh and don’t forget those screen shots when you exit out….
Nice job! You should consider trading with bigger lots. (10K fe.)
Like i said, here is the fish
It’s not a real account, i’ve no idea why i haven’t got a regular 50K demo account with FXCM.
See what hapened the next day
I took those screenshots on my equity growth spike that you can see here on https://www.myfxbook.com/portfolio/demo-ip/601002
I’m actualy to busy but when i gonna get more free time and have few more months of experience with those strategies i’ll make a complete review of IP, it’s swing trading so it takes months to get rewards i’ve started in a drawdown period so i’ll see what hapen in the next months. The pips quantity doesn’t means much because of a pip moove doesn’t have the same value on all the currencies, with USD/MXN it’s very easy to get a lot of pips.
I don’t think you can call it a “fish” yet until you traded it in live or real account because it is very different when you traded in Demo vs Real account , psychological wise , and I am sure you are fully aware of it. Testing the strategies out using Demo is fine but I won’t open up a 50K demo account unless your real money that you are putting in as capital will be the same thing otherwise I will reduce it to atleast to a reasonable amount where you are comfortable with so you won’t get to much pressure seeing a large account unless that is your capital that you are willing to put in with no problem.
I just had a quick look on your myfxbook and seeing a -27.28% drawdown. Am I looking it correctly? I dont know how this myfxbook worked but that’s what I saw. So, what happen there?
Would you be able to give me a brief summary of what your trading strategy is and what IP that teach you that you think you wouldn’t get it from this website, this forum, or simply google search. I have not yet to see any discussion about the trades using IP , tools, do they teach how to use fundamental analysis at all to trade? Besides, this is a trading forum anyway. Lets discuss how you trade and get down to the core trading business using IP teaches…if you don’t mind…
I actually prefer having only got a 5K account because of that’s probably closer to my futur real account than 50K but with only 5K (well i still only have 3.6K) sometime i can’t size well my trades to risk 1% of my account on the position. It would be a little better if for my next account i get 10K. Under 3K i think it would be hard to trade correctly those strategies the risk management would be to big or too small. I don’t think i will be emotionnaly affected when trading real because of i gonna respect this 1st rule you can find everywhere “don’t trade the money you can’t afford to trade” and before doing it i’ll make sure in demo that those strategies works so i’ll be confident about what i’m doing. I wont go real before recovering this drawdown.
They teach 3 strategies the first 2 are mecanical i can’t be applying them wrong (well i can make some mistakes but i doubt i do) actually they’re not profitable because of i started at the wrong moment i just got a drawdown period but they will become profitable over time recover the drawdown and get some profit and then get an other drawdown etc… etc… I heard from others peoples that those strategies where very profitable in november december january then flat in feb. march then watch my myfxbook to see the drawdown, june is way better till now. I have no idea how it was before nov. but i think if i had started in nov. i would be up about maybe 20%.
And the 3rd strategie need fundamental analysis and i’m probably not doing it well so my drawdown should not be that big, they tell you the very basic and the tools/indicators to use but to be honest they don’t teach enough about that, they said they’re preparing a lot of stuff to teach how to use this tools with this strategie but for now there is not much things on this point so i’m waiting to see if those coming things will affect my results on this strategie, while waiting for i try to learn by myself how to use those tools, here and on many others sites but i just waste so much time searching and reading things that are often very interesting but doesn’t necesarily apply to IP strategie. To resume Babypips + Google = informations overload.
I didn’t know about this website before IP and i haven’t read a lot on this website so i can’t compare it to IP. But the important thing is that they teach a lot about the mindset to become a succesfull trader and motivate you for not giving up in this process (what most beginer traders do). They make the lessons easy to understand and drive you point by point untill you can start applying the strategies (tell me where they are here i haven’t find them yet). There is plenty of interesting courses here maybe to much but what can you do with all that stuff ? Placing trades ramdomly trying to get a high winning rate by using all the paterns/indicators/tools together ?
You can probably find all that in Google but Google is just a crazy mess mostly if you start with no idea about Forex trading.
You can open a free account read the first free lesson and watch the titles of the others lessons and search if you can find interesting things about it here or Google so you’ll turn your searching time into a 499$ saving.
As i’m down about 30% in 3months i can’t recommend it yet but i can say that it’s not a scam. That can change depending of my performances over time but i really doubt that i’ll end up the year giving you my ID/password. Untill now i still haven’t seen anyone that has traded their strategies for over 6months (IP is new by the way) with bad results. I think those persons would have been “happy” to show others their bad results so others can avoid getting “scammed”.
Personaly i don’t go restaurant as i can get the food for free and cook it by myself i think all the restaurants and food sellers are a bunch of scammers. I don’t buy fish because of i can fish by myself and fishermans are scammers they sell fishs that everyone can fish himself, and that’s the same for everything in life mostly now with internet because you can learn for free how to do pretty much everything but doing everything you have in you life by yourself could takes you many lifes.
drefhill,
Thank you for your time to response…
I agree with you regarding your demo account size (5k) and I will do the same if I were you. If you haven’t tried trading under live account yet, trust me you will be affected by it when you start losing/winning but more on a losing part unless you are one of the fortunate few that right away who can start banking money without losing…Losing is part of the game… you will lose no matter how religiously follow your plan/strategy, how discipline you are, how well you are doing in demo, you will lose. The time that you accepted losing is part of the game then you will start ”improving” on the process. I said improving because there are still more obstacle that you will find along the way.
They teaches you 3 strategies and 2 of them are losing mechanical system? Hmmm… I would think they will show you the basic technical part first. I think the very core and basic is how to use Support/Resistance level, Candlesticks, Pattern, maybe Fibonacci, Pivot Point, etc. Why focusing on the mechanical part where you don’t even know the basics where the prices go? Also, do they explain to you or do you even question them what causes the price moved and what’s behind it? Sure, some will say that it is all “random” or some will say it is “the market maker/broker who took my money”. But have ever read your brokers news feed about the rate or policy changes of one of the central bank like the ECB? the changes of Unemployment rate of a certain country like the US and when the Fitch/Moody/S&P downgraded EU’s credit rating, have you notice all of this when it comes out how the price moves drastically in a matter of second/minute and the volatility was so high? This is the fundamental part of it and not the mechanical who drive the price…Have you thought any of that?
If you have a profitable strategies, it doesn’t matter what month of the year it is (Nov, Dec. Jan, Feb) which time of the month/week/day you trade or you use your strategy and “hoping” you will see profit. You trade because you did your research and you see the opportunity right there in front of you whether you are using Technical and or Fundamental. I would really stay away on mechanical until you know the basics first and you are profitable. In fact, I don’t think you need it at all…but it is just me.
Feel free to go to BP school here …study them and you will see that there are tons of information there for free then test them out and see which one fits your personality. Though, you still need to do your own research. Relying on one trading school/courses won’t get you anywhere. Paying $ 499 for the course won’t guarantee that they have all the answers for you. You still need to figure out on your own because trading in itself is a personal journey… You will still make changes along the way. IP courses might work for some but it won’t for others… You have to focus on yourself not focusing on what “other” people are doing or if they are successful with IP strategy.
As you have mention that IP is a very new business… There right there I will be questioning everything before I handed them my hard earn $499. I will asked for a proven track record of their profitable trades. The years of experience of this “traders” who taught you how to trade. I will also ask of how many students who attended the course and what are the success rate of those student who attended the course…But still as new as it is in this field, I will be doubtful.
Trading as a whole is a very tough business not just for traders or to those who are aspiring to be traders but also to those who offers classes or courses. I have seen plenty on trading courses online around and I might say that there are some are very very good…So, for me if I will spend $499, I will damn make sure that every penny that I will spend will count. Sure, you say it will save you some [B]“time”[/B] not doing a research…but [B]I can always find time[/B] if it means I needed to stay up late or wake up early in the morning or doing my research at my lunch break at work, I will…But what I am looking for is the [B]VALUE[/B] of that service that I cannot find somewhere else except time, the [B]QUALITY[/B] of the service that I cannot find somewhere else, the amount of experience/knowledge/success rate of the teacher/mentor have, and does the trading strategy/system will actually fit in my trading style or personality.
I will also consider the way they market their product/services through advertising/marketing and the level of maturity of the staff involved who promotes it. Sure, it is all fun and exciting seeing all this fancy cars and materials things as part of the promotion but those won’t last because the [B]“core”[/B] of the business in itself will determine by the people who took the class and apply them… If the marketing/advertising strategy doesn’t align to the success rate of the people who pay them or buy in to that course or worse maybe get scammed…I can see the future growth of the business is [B]Far From It[/B]… I hope I am wrong…
I read the first lesson for free a few months ago and I remember it being extremely basic. There is a total of ten lessons in the paid membership I can’t imagine it getting that in depth or having any information that baby pips doesn’t. I could be wrong though.
OK then…
Hey guys, found this thread after typing randomly infinite prosperity into google as I’m bored.
I’ve been a member of IP since 11th November 2012, and I will shed some light on it for you, in as much detail as I can put in before losing focus and going on Planetside 2 ^^.
I was recommended by a few guys on the IP facebook page months ago (Its the main hub for IP traders atm) to go through babypips first before committing real money to FX education, so I went through here and learned the basics of trading. (well done btw it helped!)
I took to dive as a silver member around £260 at the time, never ever regretted it. The layout is simple and concise, with no bull**** (I think that’s what they say on the actual selling point, but it’s true so I’ll regurgitate it) the strategies as described earlier are short term technical swing trading strategies and so in the long run are profitable as they have a proven mechanical edge with years of back testing by professionals.
The course is mostly about mindset and strict risk management procedures, which is essential to success as you’ll all know. The continuous support system via email and facebook is great, every email sent it replied personally by Lewis and Amy (It’s CO-owned by the way) after a few days. The facebook page is our ‘hub’ where we get together and discuss the weekly trades, and even help out new-er-comers with initial questions about trading etc. so see it for yourself, we got a great community going! Though not half as large as this one though!
My trading journey at the moment? currently in drawdown after a very heavy march-june, before that, I had what must’ve been around 30/40% banked up in profit; but it’s re-iterated that it’s a long haul game, where wealths made through consistent, small profit takings. Not a get rich overnight scheme.
I have complete and total faith in the strategies, my mindset and the lessons I’ve been taught, and so look forward to the future of my own trading journey.
Guys I’d seriously recommend IP if you’re dead serious about being a trader, and in answer to the Admins questions I believe, no, we don’t use fundamental analysis; I personally look at it for personal interest, but we have great justification why we’re purely technical traders.
I hope this helps clear things up, I.P is new, but certainly legit, and profitable. I’m proud to be part of the group.
[QUOTE=“Ethancol;504065”]Hey guys, found this thread after typing randomly infinite prosperity into google as I’m bored.
I’ve been a member of IP since 11th November 2012, and I will shed some light on it for you, in as much detail as I can put in before losing focus and going on Planetside 2 ^^.
I was recommended by a few guys on the IP facebook page months ago (Its the main hub for IP traders atm) to go through babypips first before committing real money to FX education, so I went through here and learned the basics of trading. (well done btw it helped!)
I took to dive as a silver member around £260 at the time, never ever regretted it. The layout is simple and concise, with no bull**** (I think that’s what they say on the actual selling point, but it’s true so I’ll regurgitate it) the strategies as described earlier are short term technical swing trading strategies and so in the long run are profitable as they have a proven mechanical edge with years of back testing by professionals.
The course is mostly about mindset and strict risk management procedures, which is essential to success as you’ll all know. The continuous support system via email and facebook is great, every email sent it replied personally by Lewis and Amy (It’s CO-owned by the way) after a few days. The facebook page is our ‘hub’ where we get together and discuss the weekly trades, and even help out new-er-comers with initial questions about trading etc. so see it for yourself, we got a great community going! Though not half as large as this one though!
My trading journey at the moment? currently in drawdown after a very heavy march-june, before that, I had what must’ve been around 30/40% banked up in profit; but it’s re-iterated that it’s a long haul game, where wealths made through consistent, small profit takings. Not a get rich overnight scheme.
I have complete and total faith in the strategies, my mindset and the lessons I’ve been taught, and so look forward to the future of my own trading journey.
Guys I’d seriously recommend IP if you’re dead serious about being a trader, and in answer to the Admins questions I believe, no, we don’t use fundamental analysis; I personally look at it for personal interest, but we have great justification why we’re purely technical traders.
I hope this helps clear things up, I.P is new, but certainly legit, and profitable. I’m proud to be part of the group.[/QUOTE]
So you are paying for someone to tell you how to “think like a winner” and to show you a mechanical trading system? Lol… Sorry but no fundamental analysis = no professional trader.
If its a mechanical trading system they are teaching then an EA can be made to trade it perfectly and you don’t need the psychological gibberish that they have been making most of their money pandering to discontent and easily influenceable 20 something’s.
Thank you so much for your testimony and I am really glad that you think everything is going well for you… and yes, to some of you might not know, I am one of the “Admin” here in BP…if you do believed that I am …then I am ;). Same is true that we only want to hear and believed what we wanted to be believed and forget about what other people are saying to think about maybe they have some valid points that we can use to add into what you already know to become a profitable traders.
However, as long as you are a [B]real profitable[/B], not “thinking” that you are profitable is fine. Psychology in trading and the right mindset is good…however, you cannot grow as a trader if your main focus is all in psychology. You have to know “how to trade” using technical analysis and or fundamental analysis. These all 3 goes hand in hand…
EAs are a good tool as well but because how the market changes consistently and drastically. A trader needs to change too… when the market change, you change so you can survived in a long haul. EA’s alone cannot provide you a long term income/profit maybe in a few years but not for a long haul… IMO
P.S: No I am not the Admin… I am just a humble member here in BP…
Go on then, prove how fundamental analysis is THE only way to be a professional trader.
Facts, figures, sources etc
Maybe a picture of your exotic car might help me?
I never ever said F.A is invalid or that I discredited it at all, I said my trading style is purely technical and that both discretion AND mechanical strategies I’ve been taught are based on pure technical analysis and have backtested results to prove they are profitable.
Coupled with a traders mindset (you SHOULD know what I mean, right?)
That sir, = professional trader.
So little-minded, want proof?
(need 5 posts to insert this link, but facebook Infinite prosperity)
Search through all user and admin posts by all means, see how badly we flop.
Edit: psychological gibberish? If you’re a professional trader, I’ll literally eat my head if that’s the attitude you hold on the importance of psychology when it comes to trading.
Ethancol. don’t get sucked into trading on smaller tf’s and trading every day because it’s a definite zero net sum game if you do it that way bro. Also, don’t trust flashy people, because those that have actual professional value never try to stand out.
I always appreciate advice, I’m a novice trader, however I’m also very cynical (I was with IP when I first learned about it along with other courses) so you need to tell me WHY its a 0 sum game, you need to ‘show’ me
Yes, Amy is a professional trader, and is also very good at marketing hence using her persona and appearance as a way to attract members. I understand that; do you know Lewis Mocker? The Head trader of IP?
No-ones mentioned him, a professional that doesn’t stand out, you can say. I’ve been doing this for 8 months at the second, if it was a con, I would’ve worked it out by now certainly.
Also is that the Lannister’s sigil? 
[QUOTE=“Ethancol;504091”]
Go on then, prove how fundamental analysis is THE only way to be a professional trader.
[/QUOTE]
I take it you’ve never been to a trading floor where professionals are actually trading… Lol. I’ll give you a hint, their screens are filled with news streams and fundamental resources.
[QUOTE=“Ethancol;504091”]
Maybe a picture of your exotic car might help me?
[/QUOTE]
Like Amy…? That seemed to have enamored you…
[QUOTE=“Ethancol;504091”]
I never ever said F.A is invalid or that I discredited it at all, I said my trading style is purely technical and that both discretion AND mechanical strategies I’ve been taught are based on pure technical analysis and have backtested results to prove they are profitable.
[/QUOTE]
I’m saying that someone who is claiming to be a professional aka Amy… Should be approached with EXTREME skepticism if they are only teaching a mechanical method that requires no understanding of how the market actually works… There are a thousand mechanical systems that I can grab off the Internet for free and charge people to explain for them.
[QUOTE=“Ethancol;504091”]
Edit: psychological gibberish? If you’re a professional trader, I’ll literally eat my head if that’s the attitude you hold on the importance of psychology when it comes to trading.[/QUOTE]
Yes … Psychological gibberish… Learn to trade and the confidence follows… Any course that LEADS with psychology is basically admitting they don’t have much to offer regarding actual trading.
1.) haven’t answered my request, PROVE how FUNDAMENTAL ANALYSIS is THE only way to trade successfully, you’ve merely pointed out how traders use fundamental analysis.
2.) Refer to point 1, that’d help prove your point that FA is the predominant way to trade; enamoured? No. Nice car though must admit.
3.) Again read my posts, mechanical AND discretionary strategies.
4.) Because global economies aren’t based on top of human psychology and confidence.
I’ve gained several things about this community already. You chat a lot of rubbish. Dolt.
You’ll hear no know more from me unfortunately, enjoy that Lambo I’m sure you race around town every night because you are, you know, professional and live off your passive income.
I don’t need to show you this , m8, because your carefully executed trading plan is and will do just that. I’ve never heard of Lewis before, no. What is his trading style?
It is a Lannister banner 
…It’s nice to see people recognizing it on a trading forum :))
[QUOTE=“Ethancol;504119”]1.) haven’t answered my request, PROVE how FUNDAMENTAL ANALYSIS is THE only way to trade successfully, you’ve merely pointed out how traders use fundamental analysis.
2.) Refer to point 1, that’d help prove your point that FA is the predominant way to trade; enamoured? No. Nice car though must admit.
3.) Again read my posts, mechanical AND discretionary strategies.
4.) Because global economies aren’t based on top of human psychology and confidence.
I’ve gained several things about this community already. You chat a lot of rubbish. Dolt.[/QUOTE]
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Where do professionals trade? At a trading floor… What do they have on their screens? News and fundamentals…
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FA ISN’T the predominant way that new retailers trade… Trading profitably isn’t common among this group either
coincidence? -
you are “trading” a mechanical system that can be done by a program… Lol. Just code it into an EA and then you don’t even need the psychological gibberish.
-
???
They are only in a group because they are trying to coordinate the hedging. Real traders trade alone