Why do people get in a huff when someone shows screenshots of their real account - and instantly jump on to the show off and big ego nonsense.
If you went to a new country and someone said you need an injection of snake venom up your botty to stop you falling ill, and there they were, standing with a bottle of snake venom and an injection - wouldn’t you at least want to know this persons credentials?
If this person was a real doctor or not?
Especially in this day and age of scammers. Forex is an industry where scammers seem to make more than most of the average traders out there.
If someone was showing you they were making £100 a day or £1000 a day, in a real live account, doesn’t that show they put their money where their mouth is, and whatever they are doing works - after all it is about the strategy.
Yet on this forum, its mostly nonsense about if you are wrong, don’t worry, just wait, and add to your position again and again - and keep waiting.
And if its not that, it’s having a tight 30 pip stop loss, then wondering why do I keep getting stopped out.
If someone was giving me advice, the first thing I would want to know is, does this person trade with real money or not.
You’ve got the wrong idea, you’re being side-tracked by the question of showing account balance and trade wins and equity curves. Its not the right question.
What i mean is, the secret to profitable trading is not simple and extraneous, its not a particular candlestick entry formation, its not a particular chart pattern, its not a specific single time-frame,its not a given named and recognised strategy. Rather its all these things plus more and the “more” part is what makes the profit.
So you start with a strategy, then add more - entry timing, trade size, capital risked, account size, leverage, market selected, exit signals, pyramid tactics, stop-loss placing, incorporating fundamentals, incorporating correlations, recognition of global market risk tolerance plus many more hard to quantify factors. These are what make the profit.
It follows therefore that if a particular trader makes a profit using Strategy X, this proves nothing much.
@tommor, well maybe but the crux of the issue is cash management.
most any strategy will work but if no proper cash management it is DOJI Hangman time for the DOJI Tombstone.
Ok, so no more than 1% per trade and 2.5% per account leaves you 2.5% per account if you desire to manage a trade. But if I get in trouble I get out at 4% of my equity and I usually regret that I didn’t get out at 2.5 or 3% of my equity.
It is the right question because that is what causes offence.
I’m not asking what you need to start with - and I would say the opposite, the secret to profitable trading is very simple, less is more, not just on the chart.
I’ve been trading for 10+ years and one of my setups uses 1 SMA and that’s it.
If traders choose to go around making this sound like rocket science, when its not, then I guess that is their own prerogative.
I don’t use stop losses most the time, don’t pay attention to fundamentals and don’t bother to time my entry and still make money, my question was why does it cause offence, and some sort of jealously when a proven money maker enters the fray.
Going by your comments here in this forum, i’d eat my hat if you managed / traded for a fund, let alone traded a real account.
Edit: I apologies, when you said “fund” i was under the assumption that we were talking about multiple thousands of dollars - i’ve just been corrected. Funded - not a fund you trade for.
@midwest has correctly identified the issue - and responded in due form - These posters pop up at weekends in an aggressive manner and disappear again until the following friday.
Generally speaking they’re looking to build a feeding frenzy among the desperate newbies who want “leadership” (success without the work) - This one says he has a "system which trades positive using a single indicator.
Given he has been a member 4 weeks, it would add to his credibility no end if he were to publish that “system” for the members to inspect and prove for themselves - otherwise one has to ponder on why a successful trader of 10 years standing, should wish to invade a site which is aimed at “baby” traders and aggressively promote his “success story” ?
Yes, exactly, it was a play on words given the way his join date is displayed, no?
So what is the issue with displaying real trading results, I’ll tell you what the issue is, very little people here are actually making money. It’s a fact, so when someone comes along trading perhaps a $30k-$50k standard account and shows profit it’s still frowned upon? why? That’s the real deal, that person would have my respect for sure, because he’s actually done it?
I’m sorry but I cannot take you seriously when you’re part of a chat group that belongs to a guy that promotes a strategy that involves placing thousands of tiny trades every single day - and waiting.
The fact a member has been part of this site for years or days means nothing, you might have been a member for years, and probably still can’t trade, that’s why you’re always hanging around, spewing nothing worth reading.
And I’m not looking to sell anything, I have nothing to promote - and if you could read I said it was the SMA - if I break that down for you, this is BabyPips after all, that stands for, Simple. Moving. Average.
Others have things to do, hence we popup when we are free.
