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who is successful trader on BMT
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who is successful trader on BMT

  #11 (permalink)
Elite Member
Luxembourg
 
Futures Experience: Advanced
Platform: NinjaTrader
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Fadi's Avatar
 
Posts: 482 since Apr 2012
Thanks: 650 given, 625 received

LOL we are so busy making money out there, that we have no time to post on the forum

Just kidding, but honestly, think about it: Why should I come here and brag about it with 100 post a day on futures.io (formerly BMT) to show you that I am successful, making money, or whatever?
Also, what would you expect me really to write on the forum in that regard each day? Articles perhaps each morning sharing my opinion on the market and the trades I plan to execute? Or details of every single trade I take to show you that I am profitable?
... and what for? to who? Who are you in the first place but a complete stranger on a public forum?

With all bluntness, I prefer to concentrate on reading my charts and trading the market, taking the money and having fun rather than bragging about my successful trading system all day long.
But if you have a question, a serious and valid one, I am the first to reply and share my opinion!

Hope you understand what I mean...


Also, just allow me a quick comment regarding the failure rate: I always hear people saying that in trading 90% or more fails, don't make it, etc...
First, I don't know who publishes this particular failure rate for trading business, but did you know that anyway (according to Bloomberg) 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn!

Whether it is Trading or any other business, it is the same guys! Failure rate is so high, and the main reason sums up to the inability to nail a profitable business model with proven revenue streams.

Food for thought

Cheers
Fadi

Successful people will do what unsuccessful people won't or can't do!
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  #12 (permalink)
Elite Member
hollywood
 
Futures Experience: Intermediate
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lexxmd View Post
How many successfull traders do we have on futures.io (formerly BMT).
who is able to make consistant profite at the end of each month.
For me its turning out to be a myth or figue of my imagination. On all the discussion, I come accorss it's eaither I have to improve on this or work on this . Not once I have read someone saying yes I do make consistant profite or I make money doing day trading. I just want to know if your out there.
Thank you

1. my guess is more than the average forum

2. not me...some months i lose money (i had 3 losing months this year and 1 breakeven)

3. yes, i make consistent profit doing day trading....so at least you've heard it once

4. i'm out here......oh wait....IT'S INSIDE THE COMPUTER! (sorry i just had to throw that one out there....that's
the only joke i have)

you can do it lex! just give it 5 to 20 years.....and also who says you have to 'daytrade'? daily and weekly time frame are nice too.

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  #13 (permalink)
Trading for Fun
West Java
 
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Fadi View Post
Also, just allow me a quick comment regarding the failure rate: I always hear people saying that in trading 90% or more fails, don't make it, etc...
First, I don't know who publishes this particular failure rate for trading business,

TraderFeed: What Proportion of Daytraders Actually Makes Money?


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  #14 (permalink)
Elite Member
Luxembourg
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: IB / Kinetick
Favorite Futures: ZN
 
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Posts: 482 since Apr 2012
Thanks: 650 given, 625 received



Thanks for the link; definitely interesting to read, but as one of the comments on that link: I too find it real hard to believe that I am that special

Successful people will do what unsuccessful people won't or can't do!
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  #15 (permalink)
Banned: trolling
Russia,Khabarovsk
 
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OP,if i were to start a similar thread,i`d assign it another banner:

"LOOKING TO BE MENTORED BY EXPERIENCED AND SUCCESSFUL TRADER"

and further on,the content....

"i`d be ready to clean your toilet,get up at 3:30 in the morning,working 20/7,wash your car,shopping for you,i`ll be at your beck and call,Sir,etc,etc...".(tip:And don`t you dare to look straight in the eyes,and "Yes,Sir" - is all you are saying.)

No reason to be shy,but even with that approach,get ready to be declined in 99 out of 100 times.

i`d seriously do this way(matter of fact,i did so,and not at all ashamed to admit that.before i din`t - i was nowhere),because when you are approaching someone greater then you,that`s the way you do it,unless you ARE the greatest.

Cheers!

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  #16 (permalink)
Trading for Fun
Geelong Victoria
 
Futures Experience: Advanced
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Posts: 113 since Jan 2015
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Cachevary View Post
OP,if i were to start a similar thread,i`d assign it another banner:

"LOOKING TO BE MENTORED BY EXPERIENCED AND SUCCESSFUL TRADER"

and further on,the content....

"i`d be ready to clean your toilet,get up at 3:30 in the morning,working 20/7,wash your car,shopping for you,i`ll be at your beck and call,Sir,etc,etc...".(tip:And don`t you dare to look straight in the eyes,and "Yes,Sir" - is all you are saying.)

No reason to be shy,but even with that approach,get ready to be declined in 99 out of 100 times.

i`d seriously do this way(matter of fact,i did so,and not at all ashamed to admit that.before i din`t - i was nowhere),because when you are approaching someone greater then you,that`s the way you do it,unless you ARE the greatest.

Cheers!

Bruce Lee obviously knew what he was talking about.
And yes, I make my living trading so it is possible, the right question though is the one to yourself, "do I have the determination and adaptability to make the changes in myself in order to become a successful trader".
Cheers John

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  #17 (permalink)
Trading for Fun
Geelong Victoria
 
Futures Experience: Advanced
Platform: Dealbook 360/ Trader Workstation
Broker/Data: I-Deal, Interactive Brokers
Favorite Futures: Index Futures & Options
 
Posts: 113 since Jan 2015
Thanks: 45 given, 88 received


Fadi View Post
LOL we are so busy making money out there, that we have no time to post on the forum

Just kidding, but honestly, think about it: Why should I come here and brag about it with 100 post a day on futures.io (formerly BMT) to show you that I am successful, making money, or whatever?
Also, what would you expect me really to write on the forum in that regard each day? Articles perhaps each morning sharing my opinion on the market and the trades I plan to execute? Or details of every single trade I take to show you that I am profitable?
... and what for? to who? Who are you in the first place but a complete stranger on a public forum?

With all bluntness, I prefer to concentrate on reading my charts and trading the market, taking the money and having fun rather than bragging about my successful trading system all day long.
But if you have a question, a serious and valid one, I am the first to reply and share my opinion!

Hope you understand what I mean...


Also, just allow me a quick comment regarding the failure rate: I always hear people saying that in trading 90% or more fails, don't make it, etc...
First, I don't know who publishes this particular failure rate for trading business, but did you know that anyway (according to Bloomberg) 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn!

Whether it is Trading or any other business, it is the same guys! Failure rate is so high, and the main reason sums up to the inability to nail a profitable business model with proven revenue streams.

Food for thought

Cheers
Fadi

Exactly right, I have spent my whole working life in business/entrepreneur, crashed and burned a few times. Most successful people have experienced the highs and the lows, just remember it doesn't matter how many times you get knocked down, juast how many times you get back up.
Cheers John

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  #18 (permalink)
Trading Apprentice
Portland, OR/USA
 
Futures Experience: Intermediate
Platform: TWS, TOS
Favorite Futures: Stock and index options
 
Posts: 14 since Jan 2015
Thanks: 1 given, 1 received

Please allow me to say that, in my opinion, many of you are too tough and I really think itís not the case, especially with someone who seems new to trading and looks for advice.

Iím in a somewhat similar situation myself and will explain my view shortly, but before that let me just say Iím 60, so please donít treat me like a kid dreaming of getting rich.

13-14 years ago I discovered technical analysis and got hooked. I soon started to program my own screening scenarios on metastock.com . My mentor was into fundamental analysis and called me a traitor. He was 65 or so at the time and used to say: Iíve been in the market for more than half of my life, so kiddo, if you ever find thereís a sure way to make money in the market let me know.

Like I mentioned in my introductory post, I had some success back then, but only until the 2002 recession hit. My friend then said: everything was going up until now, thatís why you did well, itís not because of the good signals from your indicators. That and other reasons made me stop. I read plenty of books meanwhile and suddenly I started to wonder: these authors pretend they have good strategies; then why donít they simply sit there and make money using them? Is it by selling books that their money is made?

I knew about back testing, but I thought (for no real reason) that only professional traders can get access to such a tool. Now fast forward to 2012 when I discover MetaStock and its capabilities and also find itís affordable. Got it and soon became aware of what it allows you to do. I met my old friend and told him about it and he said: you hear every now and then about a soul who defeated whatever incurable disease by drinking tea, isnít it? YeahÖ I said. Then why do you think big companies are still struggling to find a cure instead of starting producing that miraculous tea instead?

So here I am back to my old question: do these guys make money by selling a product or by using it themselves? To me lexxmdís question is truly legitimate. Can you consistently make money using one of these tools?

So please let me join lexxmd and ask the same question, although mine is a bit more specific: how many forum members got successful by using MetaStock? No matter the answer, Iíll try to use it on my own, but I would feel a bit better about it knowing that it worked for others too.

Boy, havenít thought it would get that long when I started.
Thanks,
Corto

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  #19 (permalink)
Trading for Fun
Geelong Victoria
 
Futures Experience: Advanced
Platform: Dealbook 360/ Trader Workstation
Broker/Data: I-Deal, Interactive Brokers
Favorite Futures: Index Futures & Options
 
Posts: 113 since Jan 2015
Thanks: 45 given, 88 received


Corto View Post
Please allow me to say that, in my opinion, many of you are too tough and I really think it’s not the case, especially with someone who seems new to trading and looks for advice.

I’m in a somewhat similar situation myself and will explain my view shortly, but before that let me just say I’m 60, so please don’t treat me like a kid dreaming of getting rich.

13-14 years ago I discovered technical analysis and got hooked. I soon started to program my own screening scenarios on metastock.com . My mentor was into fundamental analysis and called me a traitor. He was 65 or so at the time and used to say: I’ve been in the market for more than half of my life, so kiddo, if you ever find there’s a sure way to make money in the market let me know.

Like I mentioned in my introductory post, I had some success back then, but only until the 2002 recession hit. My friend then said: everything was going up until now, that’s why you did well, it’s not because of the good signals from your indicators. That and other reasons made me stop. I read plenty of books meanwhile and suddenly I started to wonder: these authors pretend they have good strategies; then why don’t they simply sit there and make money using them? Is it by selling books that their money is made?

I knew about back testing, but I thought (for no real reason) that only professional traders can get access to such a tool. Now fast forward to 2012 when I discover MetaStock and its capabilities and also find it’s affordable. Got it and soon became aware of what it allows you to do. I met my old friend and told him about it and he said: you hear every now and then about a soul who defeated whatever incurable disease by drinking tea, isn’t it? Yeah… I said. Then why do you think big companies are still struggling to find a cure instead of starting producing that miraculous tea instead?

So here I am back to my old question: do these guys make money by selling a product or by using it themselves? To me lexxmd’s question is truly legitimate. Can you consistently make money using one of these tools?

So please let me join lexxmd and ask the same question, although mine is a bit more specific: how many forum members got successful by using MetaStock? No matter the answer, I’ll try to use it on my own, but I would feel a bit better about it knowing that it worked for others too.

Boy, haven’t thought it would get that long when I started.
Thanks,
Corto

I bought the Metastock program in the 90s, yes the charting package was around then. After Y2k I bought the new millenium upgrade because I didn't want to waste the money I had already spent, this was the classic case of throwing good money after bad. I have never consistently made money using this program. What I will say is that in the 90s I learnt to read market/price action, this allowed me to become long term consistently profitable. I don't use any charts or technical tools in my decission making, these days I trade full time and it is my main source of income. I have a foundation of sound business decission making skills. And I view trading no differently to when I was tendering for contracts in the construction industry, a business with many unknowns and fraught with danger, correct pricing and excellent risk management being the key. It's not all in the charts.
Cheers John

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  #20 (permalink)
Trading Apprentice
Portland, OR/USA
 
Futures Experience: Intermediate
Platform: TWS, TOS
Favorite Futures: Stock and index options
 
Posts: 14 since Jan 2015
Thanks: 1 given, 1 received


Wow, I thought everybody on this forum is into technical indicators. Donít ask me why. Maybe this is what I wanted to see.
Anyway, what you seem to do is real hard work. According to some, very often itís not the rule thatís flawed, itís you not sticking to the rule. For me the magnet of technical indicators is in the promise of being able to reduce it all to a black or white situation, so after that itís a matter of discipline.

Corto

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