My Trading journey.

[R11ysf]

Mr fox said:

25 pips collected at £200/pip.

AM total £4800.

May do a little high stakes scalping now, or may come back for afternoon session, or just call it a day and have a good weekend.

Regards
Mr Fox.

Mr Fox, serious question. Does your model only generate one signal a day? If not I find it a little odd that you make only 1 trade and then take the day off. Your model or "homework" may be great and work 100% of the time or it may work for a period of time and then not work at all. However, when it is working you want to maximise the profits for when the lean times hit or if you think it is always going to work surely you want to trade as much as possible and become a billionaire.

I don't understand the philosophy of one trade and done unless that trade is on a biblical scale. Also the less trades that you have then the less statistical importance they have.

Edited by R11ysf on Friday 18th May 09:37

[Mr fox]

R11ysf said:

Mr fox said:

25 pips collected at £200/pip.

AM total £4800.

May do a little high stakes scalping now, or may come back for afternoon session, or just call it a day and have a good weekend.

Regards
Mr Fox.

Mr Fox, serious question. Does your model only generate one signal a day? If not I find it a little odd that you make only 1 trade and then take the day off. Your model or "homework" may be great and work 100% of the time or it may work for a period of time and then not work at all. However, when it is working you want to maximise the profits for when the lean times hit or if you think it is always going to work surely you want to trade as much as possible and become a billionaire.

I don't understand the philosophy or one trade and done unless that trade is on a biblical scale. Also the less trades that you have then the less statistical importance they have.

This model works over stocks/indicies/index's/currencies even comodities. I prefer currencies, and also I am limited in using currencies as thats what Fxcm mainly deal in, but that does not stop me from going through charts of all the former, and just sitting there, and back testing the strategy.

As I'm doing my homework I have all the relevant info I need before I sit at my laptop. As you know the markets work 24hrs so while I'm asleep some moves have happened, some when I awake, and some when I'm away from the screen. So I just take the nearest one. I could put market orders in, but TBH I like to see whats going on.

As an earlier poster said it is all about grasping psychology.. FEAR and GREED. You have to master these.
As for statistical importance that to me is irrelevant, as I'm too thick to work in a bank, cant read more than 2 pages of a book without falling asleep, and have no intention of plagarising someone else's work, and going into teaching.

With regards to work time if anyone had the choice to work for a few hours or even minutes a day, why would you say no. Now I can relax for the rest of the day.

Regards
Mr Fox.

[R11ysf]

Mr fox said:

This model works over stocks/indicies/index's/currencies even comodities. I prefer currencies, and also I am limited in using currencies as thats what Fxcm mainly deal in, but that does not stop me from going through charts of all the former, and just sitting there, and back testing the strategy.

As I'm doing my homework I have all the relevant info I need before I sit at my laptop. As you know the markets work 24hrs so while I'm asleep some moves have happened, some when I awake, and some when I'm away from the screen. So I just take the nearest one. I could put market orders in, but TBH I like to see whats going on.

As an earlier poster said it is all about grasping psychology.. FEAR and GREED. You have to master these.
As for statistical importance that to me is irrelevant, as I'm too thick to work in a bank, cant read more than 2 pages of a book without falling asleep, and have no intention of plagarising someone else's work, and going into teaching.

With regards to work time if anyone had the choice to work for a few hours or even minutes a day, why would you say no. Now I can relax for the rest of the day.

Regards
Mr Fox.

Sorry still doesn't make any sense. It seems, as people have mentioned, that this reads like some for of advert. You write as if you are a seasoned pro yet you have only just started. You capitalise FEAR and GREED like you've found a holy grail yet these are trading 101 basics.

If I had the option to work a few minutes a day for a few grand or several hours for tens of thousands I (and I'm sure many other people) would work for as long as possible. Ever heard of the phrase "make hay while the sun shines"??

You've only just started, you talk of no fear of hard work, yet only a few days in you are incredibly blasé about making 5 grand and then take the rest of the day off.
Something just feels a little odd to me.

[Sarnie]

If I'd made £5k by 10am on Friday morning, I'd give myself the day off too

Others might 'make hay whilst the sun shone' but how long before a you take a huge greedy gamble and lose the lot?

I'd prefer to take the £5k and enjoy it and come back fresh on monday for another go. £5k a day is bloody good money

[R11ysf]

Sarnie said:

If I'd made £5k by 10am on Friday morning, I'd give myself the day off too

Others might 'make hay whilst the sun shone' but how long before a you take a huge greedy gamble and lose the lot?

I'd prefer to take the £5k and enjoy it and come back fresh on monday for another go. £5k a day is bloody good money

And that my friend is why you are not a trader

To continue Mr Fox's football analogy trading is very similar. Do you think that a striker scores a goal and then comes off? Or does he try and score a hat-trick? Sometimes you hit form and can do no wrong like Messi this season so you try and score 5 against a crap team. Sometimes you will go from being brilliant to terrible and no-one can explain why (Andy Carroll / Torres) and when those periods happen you will be glad of all the extra goals you scored.

The only key difference between football and trading is that when times are bad they can take your goals away! Up £5k and out the door is great if you can guarantee that EVERY day, but in reality that doesn't happen. What about the day you lose £20k? Will you wish that a few of those up £5k days were in fact up £8k or £10k? Of course you will.

I can tell you from experience that of the people who get up and stop 80-90% will not be there in the long run.

ETA to add:

Yes £5k a day is good money but I can tell you if you ask a trader what their average day is and then ask them what there best ever year is the answer to the second question is usually about 100 times the answer to the first. your "average" that people have in their mind is rarely accurate as down days take a huge amount away but people don't really look at it like that.

Edited by R11ysf on Friday 18th May 10:22

[Mr fox]

R11ysf said:

Mr fox said:

This model works over stocks/indicies/index's/currencies even comodities. I prefer currencies, and also I am limited in using currencies as thats what Fxcm mainly deal in, but that does not stop me from going through charts of all the former, and just sitting there, and back testing the strategy.

As I'm doing my homework I have all the relevant info I need before I sit at my laptop. As you know the markets work 24hrs so while I'm asleep some moves have happened, some when I awake, and some when I'm away from the screen. So I just take the nearest one. I could put market orders in, but TBH I like to see whats going on.

As an earlier poster said it is all about grasping psychology.. FEAR and GREED. You have to master these.
As for statistical importance that to me is irrelevant, as I'm too thick to work in a bank, cant read more than 2 pages of a book without falling asleep, and have no intention of plagarising someone else's work, and going into teaching.

With regards to work time if anyone had the choice to work for a few hours or even minutes a day, why would you say no. Now I can relax for the rest of the day.

Regards
Mr Fox.

Sorry still doesn't make any sense. It seems, as people have mentioned, that this reads like some for of advert. You write as if you are a seasoned pro yet you have only just started. You capitalise FEAR and GREED like you've found a holy grail yet these are trading 101 basics.

If I had the option to work a few minutes a day for a few grand or several hours for tens of thousands I (and I'm sure many other people) would work for as long as possible. Ever heard of the phrase "make hay while the sun shines"??

You've only just started, you talk of no fear of hard work, yet only a few days in you are incredibly blasé about making 5 grand and then take the rest of the day off.
Something just feels a little odd to me.

I can assure you it most certainly is "AN ADVERT", and the advert is that if someone as thick as me can do it, so can you. It's all about persistance, and hard work in which ever field you choose.
I really wish I was a seasoned pro, and like you say It has no statistical relevance at all, so why would you follow my trades. Common sense says you would'nt.
I have not said in any post's that I have no fear, but more I try to supress it for a few hours a day while I trade, and try not to have any "LIMITING BELIEFS".

After next week I've decided to stop posting any trade's, so it'll be one less thing for you to feel a little odd over.

Regards
Mr Fox.

[MP85]

Mr fox said:

This model works over stocks/indicies/index's/currencies even comodities. I prefer currencies, and also I am limited in using currencies as thats what Fxcm mainly deal in, but that does not stop me from going through charts of all the former, and just sitting there, and back testing the strategy.

As I'm doing my homework I have all the relevant info I need before I sit at my laptop. As you know the markets work 24hrs so while I'm asleep some moves have happened, some when I awake, and some when I'm away from the screen. So I just take the nearest one. I could put market orders in, but TBH I like to see whats going on.

As an earlier poster said it is all about grasping psychology.. FEAR and GREED. You have to master these.
As for statistical importance that to me is irrelevant, as I'm too thick to work in a bank, cant read more than 2 pages of a book without falling asleep, and have no intention of plagarising someone else's work, and going into teaching.

With regards to work time if anyone had the choice to work for a few hours or even minutes a day, why would you say no. Now I can relax for the rest of the day.

Regards
Mr Fox.

You keep mentioning psychology - are you trying to convince us that you are making thousands based on "phsycological" analysis paired with following the statistical trends? Surely, that would be the demise of anyone?

• not tying to be flippant here either.

[Mr fox]

Sarnie said:

If I'd made £5k by 10am on Friday morning, I'd give myself the day off too

Others might 'make hay whilst the sun shone' but how long before a you take a huge greedy gamble and lose the lot?

I'd prefer to take the £5k and enjoy it and come back fresh on monday for another go. £5k a day is bloody good money

+1

I dont want to burn myself out by sitting infront of a screen 8hrs day, but just want to pace myself. It is a fun thing I'm doing, and with anything that I do. Once the fun stops what is the point in continuing.

[zac510]

walm said:

Well, what are the barriers to entry for day trading? Zero. (Other than a small deposit.) Anyone can open account.

This thread is an amazing example of the barrier not so much of entry but of success. Mr fox is just getting slandered, told he's a scam artist, a liar. Not only is the market trying to beat him down but so is almost every single person in this thread. Why and out of what emotions I dare not speculate. They've nothing to gain from shooting him down yet refuse to believe he's real. He needs all of his psychological control just to keep his cool in this thread (which he is doing!).

Keep up the good work in here and on the charts Mr Fox. It's been eye-opening to see the difference between attitudes and approaches to trading even from posters who trade.

[Mr fox]

MP85 said:

Mr fox said:

This model works over stocks/indicies/index's/currencies even comodities. I prefer currencies, and also I am limited in using currencies as thats what Fxcm mainly deal in, but that does not stop me from going through charts of all the former, and just sitting there, and back testing the strategy.

As I'm doing my homework I have all the relevant info I need before I sit at my laptop. As you know the markets work 24hrs so while I'm asleep some moves have happened, some when I awake, and some when I'm away from the screen. So I just take the nearest one. I could put market orders in, but TBH I like to see whats going on.

As an earlier poster said it is all about grasping psychology.. FEAR and GREED. You have to master these.
As for statistical importance that to me is irrelevant, as I'm too thick to work in a bank, cant read more than 2 pages of a book without falling asleep, and have no intention of plagarising someone else's work, and going into teaching.

With regards to work time if anyone had the choice to work for a few hours or even minutes a day, why would you say no. Now I can relax for the rest of the day.

Regards
Mr Fox.

You keep mentioning psychology - are you trying to convince us that you are making thousands based on "phsycological" analysis paired with following the statistical trends? quote]

No, because what I'm actually doing is taking "one big risk" everytime I trade, and go into the trade knowing it could go wrong, and I could loose money, and this is a "FACT" I have accepted, and I am comfortable with... That is the only psychology I need to go forth.

"Surely, that would be the demise of anyone?"............... Yes it is, and unfortunately, for me to make money from trading there are going to be people out there loosing money.

[R11ysf]

Mr fox said:

I can assure you it most certainly is "AN ADVERT", and the advert is that if someone as thick as me can do it, so can you. It's all about persistance, and hard work in which ever field you choose.
I really wish I was a seasoned pro, and like you say It has no statistical relevance at all, so why would you follow my trades. Common sense says you would'nt.
I have not said in any post's that I have no fear, but more I try to supress it for a few hours a day while I trade, and try not to have any "LIMITING BELIEFS".

After next week I've decided to stop posting any trade's, so it'll be one less thing for you to feel a little odd over.

Regards
Mr Fox.

If you read from what I've written from the start I wish you every success and I hope it works out for you You will also see that some people are offering you advice after you've had such a troubled start.

The questions I have asked you (whether you want to answer them here or not) are actually things that will help you in the long run. Making £5k a day and stopping, which I've asked about twice, is something you need to think about, and trust me if you stick to that then the chances of you being successful are massively stacked against you.

One of the things that separates good traders from bad is their ability not to ignore any point of view or information, but to listen to them all and then have the conviction to back their own judgement.

[Sarnie]

What sort of figures are you having to 'risk' to gain £4,800?

[ATM]

Sarnie said:

What sort of figures are you having to 'risk' to gain £4,800?

If the Risk : Reward is 1 : 1 then he is risking 4800. If its across 2 trades which are not concurrent then it could be a risk of half of this. The real question you should be asking is what % of capital he is risking. Which is a polite way of saying how much money do you have. If he is risking as little as 1% of capital then he has 480,000 in his bank roll.

[R11ysf]

zac510 said:

This thread is an amazing example of the barrier not so much of entry but of success. Mr fox is just getting slandered, told he's a scam artist, a liar. Not only is the market trying to beat him down but so is almost every single person in this thread. Why and out of what emotions I dare not speculate. They've nothing to gain from shooting him down yet refuse to believe he's real. He needs all of his psychological control just to keep his cool in this thread (which he is doing!).

Keep up the good work in here and on the charts Mr Fox. It's been eye-opening to see the difference between attitudes and approaches to trading even from posters who trade.

Or maybe Zac people with a lot more experience than you have heard of a million "traders" who all make money and then it all turns out to be a scam time and time again. I;m not saying that is the case with Mr Fox but his posts do read a little strange. Questioning what he is doing is our right by him posting on a public forum. When people who have do this for years suddenly (well not that suddenly, we've seen it loads of times before)read of someone who straight off the bat has "the secret" then our skepticism picks up a notch. Remember Alessio Rastani? Or how about Alex Hope? Those 2 are only just very recent, there have been loads of others.

Also, if you actually read what people have written there is good advice in there too.

[z4chris99]

Sarnie said:

What sort of figures are you having to 'risk' to gain £4,800?

he said 200 a tick so that's a 15k in your account minimum to place that short. the "risk" is much more. bet the wrong way and go for a st and come back to be called out not much fun

[walm]

zac510 said:

walm said:

Well, what are the barriers to entry for day trading? Zero. (Other than a small deposit.) Anyone can open account.

This thread is an amazing example of the barrier not so much of entry but of success. Mr fox is just getting slandered, told he's a scam artist, a liar. Not only is the market trying to beat him down but so is almost every single person in this thread. Why and out of what emotions I dare not speculate. They've nothing to gain from shooting him down yet refuse to believe he's real. He needs all of his psychological control just to keep his cool in this thread (which he is doing!).

Keep up the good work in here and on the charts Mr Fox. It's been eye-opening to see the difference between attitudes and approaches to trading even from posters who trade.

I am not slandering him, calling him a scam artist or liar and I am perfectly happy to accept he is real.
I just find it amazing that common sense doesn't tell everyone that there is no such thing as a free lunch.

If there were such "easy money" out there then since we live in a pretty free market economy - someone else would/will jump on it.

I work in the investment industry so I know how important capital preservation is; particularly today (ask any Greek with some Euro deposits in his bank, if there are any left...).

All I have to gain is to WARN potential investors/day traders that THEY WILL MOST LIKELY LOSE MONEY - AND LOTS OF IT.

The lure of get-rich-quick schemes to far too many of the PH community is like attracting moths to a flame.
Look at all the posters who have said "watching this thread with interest".

They are the ones who need help IMHO.
I cannot stress enough that you shouldn't blow your savings thinking you can day trade your way to becoming a millionaire. It just DOES. NOT. HAPPEN.

Mr Fox clearly has his eyes open and given he is blowing 10s of thousands on random lessons he must have a healthy cash pile (now up £10k from two days ago...).
So best of luck to him.

I just hate that stories like this encourage others into thinking it's somehow repeatable/easy/free money/etc...

[205alive]

Mr Fox, YHM.

[cheddar]

Mr fox said:

I can assure you it most certainly is "AN ADVERT", and the advert is that if someone as thick as me can do it, so can you. It's all about persistance, and hard work in which ever field you choose.
I really wish I was a seasoned pro, and like you say It has no statistical relevance at all, so why would you follow my trades. Common sense says you would'nt.
I have not said in any post's that I have no fear, but more I try to supress it for a few hours a day while I trade, and try not to have any "LIMITING BELIEFS".

After next week I've decided to stop posting any trade's, so it'll be one less thing for you to feel a little odd over.

Regards
Mr Fox.

Don't stop posting.

You don't need to convince the sceptics, keep posting your trades.

[walm]

205alive said:

Mr Fox, YHM.

I too have some magic beans.
Please PM me for prices.

[miln0039]

cheddar said:

Don't stop posting.

You don't need to convince the sceptics, keep posting your trades.

+1