The making of a professional...poker player and trader

Forex-trading coach? From what I have heard Forex is like flipping at NL100.

Originally posted by BObamaJr
Forex-trading coach? From what I have heard Forex is like flipping at NL100.

far from it
in future posts I will also talk about trading if people are interested.

I wanna hear more about trading, always was interested in it, but never really dug into it. You could explain about what types of trading are there, I don't even know what Forex is.
Good luck with climbing limits, you seem determined so I think you will do great.

Gl, subscribed. Would also love to hear trading stuffs

Ha, brilll...
Your in a very similar spot to me regarding future goals in and out of poker.

Had a passing interest in trading and look forward to some forex chat.

There are a few NL10 bloggers at the start of their hopefull uphill scramble,
we should form a Skype group.
PM me if you are interested.

- Notecaddy

??? Whats this ???

All the best mate,
MD.

Originally posted by Krishjanis
I wanna hear more about trading, always was interested in it, but never really dug into it. You could explain about what types of trading are there, I don't even know what Forex is.
Good luck with climbing limits, you seem determined so I think you will do great.

Thanks. Sure, will post some general stuff to get you started. I'm very interested in teaching/analysing markets/essays, so you will see a lot of trading stuff here as well

Originally posted by ragney
Gl, subscribed. Would also love to hear trading stuffs

thanks, will post

Originally posted by MasochisticDesire
Ha, brilll...
Your in a very similar spot to me regarding future goals in and out of poker.

Had a passing interest in trading and look forward to some forex chat.

There are a few NL10 bloggers at the start of their hopefull uphill scramble,
we should form a Skype group.
PM me if you are interested.

- Notecaddy

??? Whats this ???

All the best mate,
MD.

Thanks man

Sure, would be nice to form a blogger future 6max crushers group.

NoteCaddy is a HM2 application which basically takes notes for you on players. For example villain raises UTG QTo c/c Q78 flop, c/r T turn, shoves x river. You define note categories or something like that(don't know it yet that well, and Notecaddy "writes" in your notes that villain raises QTo UTG"

PS: gotta learn how to multi-quote. Any idea how to do that ? lol

Looking forward for the trading stuff too : P

Knew this blog would get a lot of interest lol.

Trade fulltime on betfair and have thought about forex quite a bit so looking forward to hearing about trading.

GL!

EDIT: Also I'm nearly sure the equilab here has a function similar to flopzilla. I'll try find it and let you know. Might save you some $$$ and be handier to have everything in the one program.

Originally posted by holmeboy
Knew this blog would get a lot of interest lol.

Trade fulltime on betfair and have thought about forex quite a bit so looking forward to hearing about trading.

GL!

EDIT: Also I'm nearly sure the equilab here has a function similar to flopzilla. I'll try find it and let you know. Might save you some $$$ and be handier to have everything in the one program.

thanks holmeboy ! now that you mention it i will also try to find it once i get home (currently at work)

Originally posted by bmfbpi
PS: gotta learn how to multi-quote. Any idea how to do that ? lol

I use a little "cheat" for that. ♦

Right click on "quote" button and select open in new window (or tab). There you just copy the text in the textbox and paste it inside the first quote. I find it faster than handwritting the forum code.

Originally posted by TiciBoy

Originally posted by bmfbpi
PS: gotta learn how to multi-quote. Any idea how to do that ? lol

I use a little "cheat" for that. ♦

Right click on "quote" button and select open in new window (or tab). There you just copy the text in the textbox and paste it inside the first quote. I find it faster than handwritting the forum code.

You can also middle mouse button click on the quote button and it will open in a new tab, every link you click on with middle mouse button opens in a new tab, you can also get the same effect by holding CTRL and left clicking on a link.

Oh and yeah, I also just open quotes in new tabs and then just copy paste them, pretty sure there is no other option possible.

Hey

Ihave read 80% of the ... babypips stuff
♦ ♦ ♦

If u have cool sites where we can get info + knowledge let me know
as im interested in this subject although (because i need knowledge_) never tiried trading

Originally posted by Antonioull
Hey

Ihave read 80% of the ... babypips stuff
♦ ♦ ♦

If u have cool sites where we can get info + knowledge let me know
as im interested in this subject although (because i need knowledge_) never tiried trading

start posting in their forum and discuss stuff.

Also, www.forexfactory.com is another great forex discussion board, and while we're at it, also try trade2win.com

have fun reading/studying

Hey man,

Nice blog I was interested in forex too, but then I became aware of fact that forex world is really rigged, like really really rigged(google forex dealer desk and metatrader 4 virtual dealer plug-in), also average forex traders loses $25k. So have you ever made any real profits? And what trader are you? Position, swing, day trader, scalper?

Look im gold ♦

Well ofc i jump on the wagon of trading aswell, since i've been doing it for some few years, and i would love to hear about how many % capital u pull up in avg pr month.

Also how u approach that there isnt only 10 forex's, but more like 50 ♦. (im thinking here how u calculate the daily fees compared to your profit over time (daytrading/weekly/monthly) + how u stop the politician from eating all profits due to rigged markets based on untrue holdings that gets added public when its in their favor - how u decrease the amount of time ur stocks are open (due to daily fees that can eat u up, if u dont set the correct stoploss - OR add more % to the stock (since we cant expect to make a profit of a forex, if we look to far ahead, due to the daily fees (1-2month+)))

I REALLY love how u approach gambling. Its like 99,95% like mine. I trade forex on the same time as i play poker, however trading is a little on hold for me now, because i make like 10x on poker right now ♦

When i started out (no xp AT ALL) i got 100% increase of capital in 3 month, then i deposited 10x capital, narrowed it down so i would expect to get 35% ~ pr 3. month, then i learned that it was still a little too agressive in my opinion, so again, now instead of raping 1 forex (add % every time it drops x%) i invest ALWAYS in 3 at the same time (much less varianse (AA 3 times instead of 1 :))) and it gave me in the beginning pr. month +-5%, but now the % has dropped since my capital has increased so i know im not getting 5% anymore.
SO my question to you - since i know that if u get a 100% increase on ur capital, u still cant increase monthly % by 100% because there just is more than 1 factor (ur profit isnt direct proportional with ur capital) - HOW do you calculate in % how much ur a willing to buy for?

Lets take an example
GPB/USD
Price 10£
Gearing 1:50
Pieces/amount 1
Approach Daytrade/sell as fast a possible (daily fee to a minimum)

Lets say u are agressive and have 100£ and u buy 1 piece 10£. That works and u repeat maybe 200 times.
Now u have 1000£ and u buy ? pieces (Just mentioned above why it isnt 10x (100£ u bought))

So u still have the same % left in ur disposenal capital, BUT when GBP/USD drops lets say 150 points over 1 week, u wont have the same % left in ur capital with 1000£ as u would had with 100£

So since u are a coach ♦ how do you determin what factor is appropiate to divide with ur % buy amount?
It has something to do with the gearing right? So am i totally wrong to say, that u could do something like:
Gearing: 50
Ok, so divide our % buy amount by ex. 15% of the gearing so:
(50/100)*15 = 7.5% (new factor in %)

So old buy amount was 10% 10£
So new buy amount is still 10% 100£ BUT now we remove 15% of the gearing (50)
so NEW NEW amount is 92.5£ we buy for this time

Also since when i thought this through we cant really make a exact plan, because the gearing differ.
So lets take a stock of a gearing of 1:5. This is 10% of the above. So here should we add 90% to the 15% (28.5%)?
(5/100)*28.5 = 1,425% Is this too low factor even though that the gearing is only 5?
Or would it be more appropiate to take 180% of the opposite?
Its still a 10% of the above, so 180% to the 15% (42%)?
(5/100)*42 = 2.1% factor

Here we should be able to buy a little more due to the lower gearing (Or am i actually totally wrong?)
Above with 1:50 gearing we took 7.5% off our buy % amt. (92.5£)
Here with a gearing of 1:5 we only take 1,425 % off our buy % amt. (98,575)
Here with a gearing of 1:5 we only take 2.1% off our buy % amt. (97.9£) (double diff bw the comparison of gearing and factor)

So we now get an example of another stock:

martinememPoker A/S
Price 48.95£
Gearing 1:5
Pieces 2
Longterm trading (doesnt sell after a week)

How does the last example change in your oppinion if we said the price instead was exactly what we can afford, and not 50%.
So price instead is 97.9£ and we only buy 1 piece instead?

Am i totally in the woods on this one? Any thoughts?

Also, http://www.forexfactory.com is another great forex discussion board, and while we're at it, also try trade2win.com have fun reading/studying tongue out

God bless you!!

Originally posted by paaaaau
Hey man,

Nice blog I was interested in forex too, but then I became aware of fact that forex world is really rigged, like really really rigged(google forex dealer desk and metatrader 4 virtual dealer plug-in), also average forex traders loses $25k. So have you ever made any real profits? And what trader are you? Position, swing, day trader, scalper?

yes i have made real profits, and yes, on a dealing desk. However, I did not trade for years, just months. After discovering forex for the first time, I started studying the subject like crazy, hundreds and hundreds of hours put into studying/analyzing etc. After that I put some money in and started to trade. However, what I discovered is the old axiom: if you want to make money, you need to have money. While I was deep into forex, got drunk one night with my room-mate and wanted to play some poker(was a complete fish), and afterwards I started reading a bit on online poker, discovered 2+2, pokerstrategy etc, saw how some people made a lot of money from it, and wanted to do the same. I figured if they can do it, so can I.

In the coming weeks after that I started learning more and more about poker, and made the decision to pursue this to make a trading bankroll, and put trading on pause. I only had a couple of hundred $ in my account and closed it, and my interest shifted to poker to make 50k towards my trading bankroll.

There are a lot of negative stories about dealing desks and etc, and while I was trading that was the norm. I did not experience the negative rumors regarding intervention, orders not being filled etc, however back then there were only dealing desks, and practically you traded with the market maker. Today however, I would not trade on a dealing desk again, but with an ECN broker, where you pay comission on number of contracts/lots.

I do believe that all these negative stories about dealing desks and etc are also fuelled by the newbie traders who lose money. And yes, it is true that 90% of traders lose money, but I am a firm believer that they lose money because of a couple of things:
- having expectations that are too high
- not having a trading plan at all
- not sticking to a trading plan (if they have it)
- not testing the trading plan enough(backtesting and forward testing)
- no proper risk management
- no proper money/bankroll management

I will write a detailed post in the future about this.

I identify myself with all the trading types you posted, except for scalper. ( more detailed post will follow)