Trading for a living!

[hanz]

Originally Posted by bossxero

According to me, most who trade for a living does not scalp the market as we say, they usually trade on higher timeframes from H4 and over. You will be amazed how the simplest system works perfectly on higher timeframes. Most who trade for a living are therfore position traders.

Most losers are those who sit and keep staring at the monitor for hours and hours thinking that they would make their first million next week. They are always looking for a system to catch each and every move. A totally false perception...

Just try even the simplest systems on the H4 and see for yourself how at the end you are able to come up with some pips. Try using MA crosses, stochastics, adx, pivots, all of these work great of higher timeframes. Thats my two pips

All the best.

i disagree,scalping is the way to go imaging targeting 1 pip with 10 standard lot which is 100usd

for a month just target 10pips and that becomes 1k usd

tight stop with trailing is the way to go - the problem is having a 90% accurate system that's about it

[bossxero]

I dont think a real trader would be trading like this. And 90% system almost does not exist at all with this dynamic market keep changing on and on such that system which works some years before does not work anymore.

Of course what you are saying is every traders sweet dream, but are you hearing what you just said buddy? Playig 10 lots on a single trade is good, but then, you wont be able to do this with scalping,this will cause too much drawdown unless u got a 200k account. These kind of trades are just like suicide/kamikaze trades, and we are not talking about the amount of stress this will cause on the trader taking such trades.

For me, this definitely cannot be called trading. Banks and big corporations can afford doing it that way, but not the small traders that we are.

Originally Posted by hanz

i disagree,scalping is the way to go imaging targeting 1 pip with 10 standard lot which is 100usd

for a month just target 10pips and that becomes 1k usd

tight stop with trailing is the way to go - the problem is having a 90% accurate system that's about it

[hanz]

Originally Posted by bossxero

I dont think a real trader would be trading like this. And 90% system almost does not exist at all with this dynamic market keep changing on and on such that system which works some years before does not work anymore.

Of course what you are saying is every traders sweet dream, but are you hearing what you just said buddy? Playig 10 lots on a single trade is good, but then, you wont be able to do this with scalping,this will cause too much drawdown unless u got a 200k account. These kind of trades are just like suicide/kamikaze trades, and we are not talking about the amount of stress this will cause on the trader taking such trades.

For me, this definitely cannot be called trading. Banks and big corporations can afford doing it that way, but not the small traders that we are.

well only about 20% of the time the market trends

that leaves 80% of the time for scalper

well it all depends on what trading style you prefer,i dont like to made bad decision with -100pips (swing trade)

i rather have -10pips x 10 times (wrong decision)

what banks and big corporation do is they are investors not traders,why would they want to become traders? their 10% a month is like few millions

so you have to know the difference between a trader and investor

just my 2cents

[bossxero]

These scaling techniques usually lack consistency, u will tend to have more losing trades than winning ones in the long run, also, you dont always have to risk this 100 pips on swing trading, placing your trades at the right points, near a resistance or support, will minimize your risk greatly.

I used to trade on the M5 in the beginning, but at the end, when evaluation times come, i feel i worked too much for the little pips I got. Little by little i moved to higher timeframes and now I am sticking to the H1 for the time being. And on my trades, i never risked 100 pips on any of them. My max is a 40-50 pips SL. And trading these higher timeframes reduces false signals by over 75% according to me therefore, more consistent on the long run. Also, the profit can amount to hundreds of pips, so on swing trading, your risk is real low and profit is more likely to be good.

Whats the point on running for 10 pips in a month, you would have to stare the charts on and on looking for your perfect setup and this seems too stressful for me. And as you clearly pointed out, it depends on your trading style

So, do u use these scalping system hanz?

I made a little confusion, I should have used big traders instead of banks, thanks for correcting me.

Originally Posted by hanz

well only about 20% of the time the market trends

that leaves 80% of the time for scalper

well it all depends on what trading style you prefer,i dont like to made bad decision with -100pips (swing trade)

i rather have -10pips x 10 times (wrong decision)

what banks and big corporation do is they are investors not traders,why would they want to become traders? their 10% a month is like few millions

so you have to know the difference between a trader and investor

just my 2cents

[Libros]

Originally Posted by bossxero

According to me, most who trade for a living does not scalp the market as we say, they usually trade on higher timeframes from H4 and over. You will be amazed how the simplest system works perfectly on higher timeframes. Most who trade for a living are therfore position traders.

Most losers are those who sit and keep staring at the monitor for hours and hours thinking that they would make their first million next week. They are always looking for a system to catch each and every move. A totally false perception...

Just try even the simplest systems on the H4 and see for yourself how at the end you are able to come up with some pips. Try using MA crosses, stochastics, adx, pivots, all of these work great of higher timeframes. Thats my two pips

All the best.

you ask for lowest spread for gbp before, if you're not a scalper the 2 pip difference is very low impact. what you need is just find very safety broker.

Most loser is who scalper? so why big trader is scalper??

[hanz]

Originally Posted by bossxero

These scaling techniques usually lack consistency, u will tend to have more losing trades than winning ones in the long run, also, you dont always have to risk this 100 pips on swing trading, placing your trades at the right points, near a resistance or support, will minimize your risk greatly.

I used to trade on the M5 in the beginning, but at the end, when evaluation times come, i feel i worked too much for the little pips I got. Little by little i moved to higher timeframes and now I am sticking to the H1 for the time being. And on my trades, i never risked 100 pips on any of them. My max is a 40-50 pips SL. And trading these higher timeframes reduces false signals by over 75% according to me therefore, more consistent on the long run. Also, the profit can amount to hundreds of pips, so on swing trading, your risk is real low and profit is more likely to be good.

Whats the point on running for 10 pips in a month, you would have to stare the charts on and on looking for your perfect setup and this seems too stressful for me. And as you clearly pointed out, it depends on your trading style

So, do u use these scalping system hanz?

I made a little confusion, I should have used big traders instead of banks, thanks for correcting me.

well who says u have to be on the chart all time,for swing opportunity seldom comes but if u scalp...it's always there...trade the mico trend

well that's because scalping is not for u...

finally the best system is making your own system that fits your personality,stress level,tolerance etc

just my 2cent
p.s: scalping is something that is actually u cant really teach,sometimes u just know what will happen next if u observe long enough - tho u dont have to be correct most of the time

[bossxero]

Hey Libros,

I think u got a wrong perception on this one. From what I read, seems u r saying that, since I am more swing trade than scalper, then why am I looking for tighter spreads, hope I get this part right

Now your response, tight spreads are not only for the benefit of scalpers. Tight spread benefits all kind of traders without any distinction of their trading system or styles. With tighter spreads, your risk is decreased and thats always a good thing for everyone. So definitely, am not a scalper, but I need tigher spreads as anyone

Originally Posted by Libros

you ask for lowest spread for gbp before, if you're not a scalper the 2 pip difference is very low impact. what you need is just find very safety broker.

Most loser is who scalper? so why big trader is scalper??

[hanz]

Originally Posted by Libros

you ask for lowest spread for gbp before, if you're not a scalper the 2 pip difference is very low impact. what you need is just find very safety broker.

Most loser is who scalper? so why big trader is scalper??

why big traders scalp?

try real interbank ecn,stp feeds from interactivebrokers or whatever broker that offers

u'll understand

[hanz]

if i'm a swinger i dont really mind about spread

i couldnt care less about it even if it's a 20pip spread

cos if im a swinger i look for trending pairs

with ur setup try use it on other non major pairs - u'll be surprise

[Libros]

of course the spread is 'very very' critical point. that about money.
but for position(swinger?) trader that target more than >20 pip i think 'broker
safety' is more critical than 2 pip difference.
BTW, the big broker offer tight spread too. so the problem is fixed.

hanz, are you stating that scalper only for who can get tightest spread?
and are you stating with tight spread scalping is more easier than position(swinger?) trading?
i'm scalping with 4 pip spread, i agree if sometimes it very hard if we take wrong position.
after compare it with other technique. i agree scalping is the most hardest method, but i like it.

you guys really make me confuse.
are you type swinger instead position trader ?
so what is scalper? positon trader? LOL