[Why are the markets still open?]

Why the markets are not suspending?

Because There are always people taking profit from Crisis...Look at  @dmedin ...or just look at me: 

[IG's platform fallen on its @rse again?]

Thank you very much !

[IG's platform fallen on its @rse again?]

Hello

For any reason my IG Platform switch to the Australian time schedule last week. I am based in Europe so platform shows charts with time +10 hours...It is now 8:00 PM in Europe, Charts shows 6:00 AM day after. Very disturbing @Caseynotes : Do you know how to fix this ?...Thank you in advance

[Small Account Challenge aka Warrior Trading Strategy]

12 hours ago, HPbrand said:

Have any one of you ever think to yourself how this guy makes his money?

Charging $598/month access is a good start 😀.

Right ! 

I am always wondering why those guys invest so much time in getting an income via YouTube if they are already so successful with their trades  ? He could rather go outside, enjoy life and....buy a new T-shirt...

[Small Account Challenge aka Warrior Trading Strategy]

Hi @Caseynotes,

The correct figures were win rate: 86% win ratio: 0,75. Risk ratio: 0,4R. Based on 22 positions...Then the market changed with almost no volatility from January 9th to January 16th despites sending some days the expected signals...It took me 2 days to notice it. In those 2 days, 4 loosers in a row, with my  (very) low risk  reward ratio (0,4) and the risk of 10% of my account just smaaaaaashed me down !! 

And then, yes you are also right; the nerves, the greed etc...pushed me to trade out of any strategy. Ahaha and I was the one who posted trading like a sniper, right..... Some winners made from fundamental analysis (my spare wheel strategy) could just rescue a little. Before you ask: No, I cannot only trade on fundamental analysis. Most of the time my agenda is not fitting.

 

[Small Account Challenge aka Warrior Trading Strategy]

[Small Account Challenge aka Warrior Trading Strategy]

Hi @DSchenk,

So how is your account looking like now, after 1 month ?...From my FX trading side, risking 10% on each trade, I lost 44% of my capital with 26% lost due to stupid greedy positions opened out of any strategy....So I refound 26% and hope to control that Greed from now. Let´s see what February brings...

[Small Account Challenge aka Warrior Trading Strategy]

Hi @DSchenk,

S

[Small Account Challenge aka Warrior Trading Strategy]

@DSchenk, I have posted the wrong episode, sorry...see episode 2 from time 4:20...

 

[Small Account Challenge aka Warrior Trading Strategy]

@DSchenk, For sure back testing in a Demo environment is a must, specially if you go the "Warrior way"  (I like the approach)...It is just that in the real word, a Warrior also...dies. You know you won´t be able to apply your high risks on a daily basis: a serie of loosers and bang ! You´re out and at the best you are so small that you will have to refund again!..I doubt any strategy can survive an high risk on a daily basis.

Now they are different types of warriors. The snipper is one of them...I am trying this, see below, from time 4:20...

Still trying...Have fun man !

 

[Small Account Challenge aka Warrior Trading Strategy]

Hi !

"The challenge is successful"...Which success ?  Do you turn your demo account a PS4 ? I am just trying to understand what the heck of it if the real market is anyway a different environment than the demo one ? You know your Stop loss won´t be hit in the demo whereas it will be in the real market...So...

This is NOT a critic. I just want to understand your motivation...Meanwhile it seems that you have fun, that is already good to see. So...Have fun, man !

 

[Question: Is anyone consistently profitable here ?]

On 04/01/2020 at 13:19, SPITFIRE898 said:

 Early days but going well so far.

VERY VERY nice. The high disbalance on Avg hold time between losers and winners is interesting.

Ah, ah : You, Exodus and Backwardation are not posting so much but all of you saw my thread and took the time to answer... . So consistent profitable traders (FX?) are somehow here and can bring reliable comments if necessary. That is what I wanted to check.

Thank you very much for sharing

[Question: Is anyone consistently profitable here ?]

On 03/01/2020 at 17:23, Exodus said:

Hi, I have been an IG client for about 18 months and just created this profile so that I can answer you.

To other readers, please don't log-jam my messaging inbox. I may not even look at it.

First, @TrendFollower, you are right about successful traders not posting much on forums. Here are the main reasons why they don't. In my opinion of course...  a) if you have a working system then you will not want the forum scavengers from banks and trading desks pirating your hard work because they will automate it and then your system will probably stop working. b) most people posting in forums are looking for answers, the rest have a gap in their life and may be feeding their egos. Once you have answers you may not stay on any forum.

There is another unfortunate cause behind successful traders withdrawing from a forum ... nobody believes them. I have seen a couple who have tried to help new traders by attempting to open their minds to the realities of the market. They have been castigated by trolls and failed-players who are convinced that there is no success available.

@Adam71, trading FX requires a great deal of learning. It took me about 10 years to become both proficient and resilient with investing in stocks. There are some lessons that can only be learned the hard way. My investments are now my bread and butter. I have been living off them for 6 or 7 years.

I started trading FX because I learned some of the lessons with investing, a significant lesson being that 'investing' relies on a buoyant market. When the market starts going down (2 straight years after the dotcom bust) you are going to find it very difficult to make money as an investor. I have 'survived' the dotcom bust, the 2008 great recession (aka the banking crisis), and I am now looking over my shoulder because the current bull-run is ten years old and a massive correction is well overdue. Plus some of the weasley practices around in 2006/7 are beginning to appear in some financial products. So FX does not care which way the market is going, who is thriving nor who is going bust. All you need as a traders is to be able to make sense of the various currency movements.

It has taken me another ten years to become profitable on FX to the point where I no longer wonder if I am doing it right. However I still consider myself a fledgling in some respects. What has been my biggest handicap? My investing experience ... the FX market does not move in the same way as the stock market but the stock market does sometimes present the same chart patterns which technical analysis recognises in FX.

You need to learn how the market behaves before you can develop a trading strategy. I suggest you visit BabyPips (dot com) and check out their free course "How to Trade Forex". I apologise in advance for the journalistic style therein which is somewhat reminiscent of Motley Fool, however just grin and bear it and it will take you a few weeks to complete. Then start watching the market. One of the great things about having an IG account is that you have unlimited 'demo' trading and can practise without perpetual hassling from salesmen wanting you to deposit funds.

I will try to come back here and answer any points that may arise, but don't hold your breath. When I started FX trading there were quite a few people in the FX boards who said similar things about how long it would take to become proficient. I didn't believe them because I suffered the worst possible event ... early success. So there you have it, this is a long and sometimes hard road. If you don't have stamina and persistence you will not make it. Stick to one currency pair until you have become comfortable with that pair, the next pair will not react in the same way.

There are probably no systems worth buying, why would anybody sell such a system? If it is profitable all it takes is an initial stake and some time. Similarly with trading signals, although signals could be thought of an extra pair of eyes. However when you are starting you are looking at one pair only, you need no other 'eyes'.

I trade two pairs. Good luck.

Thank you very much for that instructive reply

Yes I trade 1 unique pair and I have been observing its markets for 1 year now. No use of any indicators which were too noisy for me, just watching the market at different time frames in order to understand how the 2-poles crowd is moving. I also think in finding a second pair, maybe next year to balance the days the first one is not workable for me.

Thank you again

[Question: Is anyone consistently profitable here ?]

Hi All,

As the temperature of the discussions have raised (see above) and I am the one who started with that Hot topic, I will put myself forward then...I have been starting a new strategy that brought so far, win rate: 86% (19 winners on 22 opened positions), win ratio: 0,75. Risk ratio: 0,4R....All bringing  an Edge of 1,5 that IG calls Return ratio with Return Ratio = Edge-1.

My Risk ratio is quite problematic. So when the market became unfavorable, the 3 losses in a row crushed a big chunk of the gains. It became so scary that I significantly reduced the size of my positions for the next winners. Please also note I could not understand that my system was not fitting anymore at that time until I compared the charts linked with the loosers vs the charts linked with the winners. But at least I could finally see what people meant with "market cycle"...

I am glad for having reached that point, after 400 positions of pure disaster. After having climbed this mountain, I see already other mountains coming....So I decided to get out of my isolation and to start sharing comments.

Now: I obviously cannot conclude of any consistency out of 22 positions only, plus the market does not offer the expected signals everyday. Though not opening a position is already having a position, I am also struggling with the pure respect my strategy. That comes from the Greed. It is an hard fight for me. So I opened other positions ...They bought 10% of win rate.

If that strategy still works after 50, 100 positions opened with the full respect of the parameters and signals I will let you know. I will obviously not share it in details (it was not the aim of my first question anyway). I also do not expect any successful fisherman to tell me where he actually fishes...And I do not fish anyway

I wish you all a profitable trading year...Have fun

[Question: Is anyone consistently profitable here ?]

Hi All,

thanks for the replies to my very first post. Yes for sure consistency is quite relative if you consider the time frame, and the markets cycles. You cannot be profitable every months...To be honest I was also wondering whether the profitable few would spend  sometime time in posting. Not because they may be arrogant but, like the athletes at high level, our activity is quite one single person business, being fully focused and filtering the outer and inner noises.

I personally need some interactions with other traders now, after 14 months of isolation. Thank you again for welcoming me within the IG community. Have fun...

[Trade Planning and Testing]

On 31/12/2019 at 12:07, Caseynotes said:

Good little vid from Rayner Teo looking at the differences, pros and cons of Day Trading, Swing Trading, Position Trading and Transition Trading.

 

Hi Caseynotes. Rayner is cool, I´ve been following it for last 9 months. It helped a lot...I also recommend Karen Foo who deal with topics quite behind the scenes. It may take some vids to get used with her accent...

 

[Question: Is anyone consistently profitable here ?]

Hello,

well, my first message may sound quite direct (or scary ?) but before sending posts, comments and other type of material, I would like to know if any member of the community is a consistently profitable FX trader ?  I do promise not to track anyone with any further mail and questions. Just would like to know if any of you belong to the 10% (or 25%) who actually make it. 

I´ve been trading for 14 months...Still trying to find the trading system who eventually will lead me to FREEDOM.  This is an amazing quest !!

Thank in advance for the answers