Best traders: How to detect them?

The simplest way is the profit factor. This is just the ratio of the sum of wins / sum of losses expressed as positive number. This has to be over 1. You can compare traders using this stat.

Another is the expectancy or edge, total profit/total trades. Win% or probability is included in this stats but not necessary, it just makes the calculation complex. This is difficult to use as comparison tool because it is trade size dependent.

Try out the calc for expectancy.

Simple : profits/trades

win% = winning trades / total trades, loss% = 1 - win%

Complex: (win%*ave$win) + (loss%*ave$Loss), this is addition because ave$Loss is negative.

unfortunately you cannot consider profit factor nor profits/rades while you have a growth strategy in it, unless the system makes the same trade size for each trade. So all strategies that have MM like mine will have a small profit factor while the account grows. REASON: When making profit means each susequent trade will usually be larger than previous unless losses were made and for this to happen means the profit factor will be smaller.

You can use profit factor. Compare our accounts, the profit factor are close, your's is little higher.

We cannot use expectancy because my trades are small. So my expectancy is miniscule compared to yours. I beat you on the pips though. 😎

You all have good points about MM and win/loss ratio. Still all the mentioned stuff here is theoretical. It's easy to say those things with no real money involved. It is also easy to trade with $100 and double it in months without even the abovementioned rules. Then again with $100,000 it is much harder to get even 10% in a year consistently, even though you would know all the above mentioned rules and much more!

I traded for a living about 2,5 years, but could not continue to do so for various reasons (problems in private life due to divorce etc. which in effect were a drag moneywise also). During the period my annual gain averaged 16%, which falls a bit short from my todays goal of 20-25%, but was still ok. I had around 100,000 Euros of capital to invest back then.

My goal for max drawdowns is around 12% which might seem high, but these gain/drawdowns are realistic...not many advertised systems here are...

I was considering to offer managed accounts after I recovered from the divorce (my money was halved practically, so not enough capital to live off trading profits)...but there are too many money managers chasing too few money, and besides I can't commit myself for MM now, since I have other duties and other sources of income, not only trading.

Anyway, I would like to share my knowledge on 'how to trade for a living', if there are suitable people interested. It would mean people with good motivation, some trading experience and enough capital to make a living on 20-25%.

My intention would be to coach and make sure you know how to be winning trader, then you would only pay for my services after profitable trading. I can also negotiate any deal that has mutual benefits.

PM me if interested.

-Mika

ps. people who sell systems/signals, don't bother to PM me, please!

mmuller posted:
You all have good points about MM and win/loss ratio. Still all the mentioned stuff here is theoretical. It's easy to say those things with no real money involved. It is also easy to trade with $100 and double it in months without even the abovementioned rules. Then again with $100,000 it is much harder to get even 10% in a year consistently, even though you would know all the above mentioned rules and much more!

I traded for a living about 2,5 years, but could not continue to do so for various reasons (problems in private life due to divorce etc. which in effect were a drag moneywise also). During the period my annual gain averaged 16%, which falls a bit short from my todays goal of 20-25%, but was still ok. I had around 100,000 Euros of capital to invest back then.

My goal for max drawdowns is around 12% which might seem high, but these gain/drawdowns are realistic...not many advertised systems here are...

I was considering to offer managed accounts after I recovered from the divorce (my money was halved practically, so not enough capital to live off trading profits)...but there are too many money managers chasing too few money, and besides I can't commit myself for MM now, since I have other duties and other sources of income, not only trading.

Anyway, I would like to share my knowledge on 'how to trade for a living', if there are suitable people interested. It would mean people with good motivation, some trading experience and enough capital to make a living on 20-25%.

My intention would be to coach and make sure you know how to be winning trader, then you would only pay for my services after profitable trading. I can also negotiate any deal that has mutual benefits.

PM me if interested.

-Mika

ps. people who sell systems/signals, don't bother to PM me, please!

If you can teach then you can develope the strategy and use an EA. ( I like the fact you are willing to teach for money lol )
Give the peoplr a break.. they are here to make money not lose it to you and the broker.

If you or anyone can make 20% per week then you can be very wealthy in no time. The key is to be consistent. Most come and go with 40% profit this month but only to be -60% next month I've seen your kind year in and week out many times. Over and Over.

If anyone can be CONSISTENT and do more than 10% per week send me an email. I will ensure you make anough money to not have to work while you make profits for the right person/s.

I do like your goals Mika that I agree with you but if your risk to reward is 1:1 with only 2-5% of the account traded at a time look at my results to see what happened PROVIDED your win to loss ration is way more than 50%.
I'll say this the trading style my EA uses in this community shows what a proffesional trader would be doing but of couse not going up to 10k lots but I know some firms which have traders that trade 1k lots or 5k lots per trade. The thing is picking the corrct trades and be selective about which ones to trade to have a percentage of above say 60%.

Hi forexpipcatcher!

We both have made more money with trading than lost. It is not true for most traders I guess, so I think we should both qualify to teach people to trade better, no matter how we do it.

I did forgot to tell about my trading style, which is manual trading and quite long holding periods. My average holding period is more than 10 days (stop-loss can hit on day1, or a trend can carry my position even 4 months). I checked your system stats, and it seems your holding period is very short, averaging less than 10mins?

I trade across the board stocks, commodities and forex. I have made best profits with forex, and I think it's mostly due to small transaction costs and better trading platform, which allows any size of trade with narrow spread.

I have never used EA in real trading, although longer holding-period strategy could propably be automated, but I see no need for that, it could easily lead to overtrading.

So, I'm looking to contact other position traders who can trade with longer holding periods, work systemically, without need for instant quick profits, if any :)...I would have made much more profit in trading if someone would have coached me when I started trading. So this is actually a call for collaboration, not a service that I'm selling to people!

forexpipcatcher posted:

If you can teach then you can develope the strategy and use an EA. ( I like the fact you are willing to teach for money lol )
Give the peoplr a break.. they are here to make money not lose it to you and the broker.

If you or anyone can make 20% per week then you can be very wealthy in no time. The key is to be consistent. Most come and go with 40% profit this month but only to be -60% next month I've seen your kind year in and week out many times. Over and Over.

If anyone can be CONSISTENT and do more than 10% per week send me an email. I will ensure you make anough money to not have to work while you make profits for the right person/s.

I do like your goals Mika that I agree with you but if your risk to reward is 1:1 with only 2-5% of the account traded at a time look at my results to see what happened PROVIDED your win to loss ration is way more than 50%.
I'll say this the trading style my EA uses in this community shows what a proffesional trader would be doing but of couse not going up to 10k lots but I know some firms which have traders that trade 1k lots or 5k lots per trade. The thing is picking the corrct trades and be selective about which ones to trade to have a percentage of above say 60%.

mmuller posted:
Hi forexpipcatcher!

We both have made more money with trading than lost. It is not true for most traders I guess, so I think we should both qualify to teach people to trade better, no matter how we do it.

I did forgot to tell about my trading style, which is manual trading and quite long holding periods. My average holding period is more than 10 days (stop-loss can hit on day1, or a trend can carry my position even 4 months). I checked your system stats, and it seems your holding period is very short, averaging less than 10mins?

I trade across the board stocks, commodities and forex. I have made best profits with forex, and I think it's mostly due to small transaction costs and better trading platform, which allows any size of trade with narrow spread.

I have never used EA in real trading, although longer holding-period strategy could propably be automated, but I see no need for that, it could easily lead to overtrading.

So, I'm looking to contact other position traders who can trade with longer holding periods, work systemically, without need for instant quick profits, if any :)...I would have made much more profit in trading if someone would have coached me when I started trading. So this is actually a call for collaboration, not a service that I'm selling to people!

forexpipcatcher posted:

If you can teach then you can develope the strategy and use an EA. ( I like the fact you are willing to teach for money lol )
Give the peoplr a break.. they are here to make money not lose it to you and the broker.

If you or anyone can make 20% per week then you can be very wealthy in no time. The key is to be consistent. Most come and go with 40% profit this month but only to be -60% next month I've seen your kind year in and week out many times. Over and Over.

If anyone can be CONSISTENT and do more than 10% per week send me an email. I will ensure you make anough money to not have to work while you make profits for the right person/s.

I do like your goals Mika that I agree with you but if your risk to reward is 1:1 with only 2-5% of the account traded at a time look at my results to see what happened PROVIDED your win to loss ration is way more than 50%.
I'll say this the trading style my EA uses in this community shows what a proffesional trader would be doing but of couse not going up to 10k lots but I know some firms which have traders that trade 1k lots or 5k lots per trade. The thing is picking the corrct trades and be selective about which ones to trade to have a percentage of above say 60%.

I hear where you're coming from, the reason I take short trades and if you check my drawdown chart will give you the answer. I have success in a different form I break the market up into micro volumes which means I can never be wrong by much but I can be right by much and so with a very good indicator using a unique style I am able to extract out of the market slow but consistent and steady pips. The only reason my drawdown initially was 60% was because I set my system to trade many currencies so I overloaded but with my broker I trade only the currencies which have spreads less than 1 pip on a professional account.

If you or anyone can achieve 20% or more per week do drop me an email and we can talk more about trading professionally.

Good Luck mmuller

Best traders: How to detect them?
Easy!
They just dont offer signals, coaching, EAs, PAMM etc, because they can trade their money with constant profit.

biosko posted:
Best traders: How to detect them?
Easy!
They just dont offer signals, coaching, EAs, PAMM etc, because they can trade their money with constant profit.

true story

That is worth giving you a vouch. Well said.

Many people think of trading and especially trading Forex as an easy way of making money... Just find the right EA, the right system, the 'GURU' to learn from, and then be a millionaire in few months.
Well... successful trading takes a lot of work, dedication, perseverance, just like any other successful career. And the lessons one learns along the way cannot be put on a blog, in few phrases, or even in a book.

So, I agree they 'dont offer signals, coaching, EAs, PAMM etc' but not because they are the bad guys. It is not too much to share. They use simple systems, study a lot, persevere, learn, etc...

It is like going to a CEO of a large company and ask him/her to show you hot to run a successful business in few blog postings.

cris224 posted:
Many people think of trading and especially trading Forex as an easy way of making money... Just find the right EA, the right system, the 'GURU' to learn from, and then be a millionaire in few months.
Well... successful trading takes a lot of work, dedication, perseverance, just like any other successful career. And the lessons one learns along the way cannot be put on a blog, in few phrases, or even in a book.

So, I agree they 'dont offer signals, coaching, EAs, PAMM etc' but not because they are the bad guys. It is not too much to share. They use simple systems, study a lot, persevere, learn, etc...

It is like going to a CEO of a large company and ask him/her to show you hot to run a successful business in few blog postings.

wow cris24, its very true.
In fact, one forex trader could be a millionaire if and only if the perseverance was much more than usual.
Isn't necessary to offer 1000's product promising richness neither follow gurus. Just keep it simple and will possible make big money through small investment.

sometimes.. i ask for myself: there is so many journalists specialized in economics, professional economists and reporters [from Bloomberg, example] covering FX markets and they usually work for media and the professionals take a good salaries by one good job (maybe, i don't know ) but will be that this guys: gurus , journalists are millionaires 😈 ?? If yes, why the most of them work so hard trying to sell one idea ? Its curious.

Well, a millionaire could make the decision of continue work or not once that she/he already reached the financial independence.

I love this question....

Id love to see the true stats against the masses who try and profit from forex.

Tough zero sum game!

'They just dont offer signals, coaching, EAs, PAMM etc, because they can trade their money with constant profit.'

hmmm, if so, all Market Wizards, Richard Dennis and the turtles are not good traders.

I AM NOT A GOOD TRADER!

But those lads are definitley better than average.....

Trading is a competitive sport, you never reveal your hand or tell your opponent which side of the court the ball is gonna go.
There is no communism in trading.

as far as I know, if a trader have low drawdown, they can be consider as a good trader, at least they have high accuracy in trading, cause to be honest its almost impossible if we can win all the time.

just my 2 cents :)

pietpip posted:
Stop searching for answers and trade because you love it and be dynamic, and dont look at my profile because i still suck at it but i know i will be dynamic and profitable in the end because i love trading. Maybe the answer to your question is ' The successful trader is the trader that loves trading more than life itself'. Good trading

That works for me! 😎