• Registered: 2017-07-24
  • Posts: 99

Topic: New FSB User Hoping To Earn His First Million Before He's 50

OK, I'll be 50 in 6 months, so maybe that's out of the question.

My name is John and I'm new to FSB. Until last year, my full-time profession for the previous ten years was playing poker on the Internet. The ten years before that, half my income was from poker (live or Internet) most years.

During the last few years, beating poker for a living has become increasingly more difficult and it's become tedious and too much like a real job. I played 12 to 18 cash game tables simultaneously, and literally couldn't take my eyes off the screen for two to three hours at a time.

Many professional poker traders have recently transitioned to earning their incomes through trading. Poker and trading use very similar money management (and many other) skills, but trading has the advantage that you can increase/decrease your investment and risk to a much finer degree.

The highlight of my poker career was living and playing in the Philippines for three years. My goal is to once again obtain a steady Internet income and do more traveling.

I spent two months full-time learning to trade FOREX markets manually (towards the end of last year).  I started a new job and put it aside for a short time. In April of this year, I purchased StrategyQuant (a competitor to FSB) and have been generating non-stop.

...until this week, when I found FSB! Whereas there was not a lot I could do to affect the strategies generated by SQ, with FSB I can customize them to my liking. SQ is more like a slower version of EA Studio with a couple different features (and without the automatic workflow). And FSB is infinitely more versatile than EA Studio.

I was impressed that I can actually use trading experience to help myself create more effective EAs, rather than just throwing everything against the wall and hoping something will stick. Of course, I'm just learning about its features, but I'm excited about my prospects with the software.

I have a mathematics/statistical background and because I don't yet understand how the markets behave and react, I rely almost exclusively on numbers. I'm sure better traders combine the two elements, but I believe numbers are the foundation of good trading. The most important element otherwise (I believe) is Support & Resistance and I've been trying to conceptualize if and how this can be effectively incorporated into an indicator.

I will be super-active in the forums and probably ask a lot of "dumb" questions on my journey. But that's OK, I'm sure a lot of other users will those same questions. I'll also have a lot of ideas and opinions that will probably go against conventional thinking, some good, others horribly wrong. But I'll learn!

ThanX!
John

  • ViniQ
  • ViniQ
  • Quantitative Trader
  • Offline
  • From: BR
  • Registered: 2017-02-19
  • Posts: 211

Re: New FSB User Hoping To Earn His First Million Before He's 50

Welcome to the forums John (y)

ViniQ's Website

  • Popov
  • Popov
  • Lead Developer
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  • From: Bulgaria
  • Registered: 2006-11-30
  • Posts: 7,986

Re: New FSB User Hoping To Earn His First Million Before He's 50

Hello John,

Very interesting story!

Please use our tools carefully to gain knowledge and experience and share with us your opinion.

I sincerely wish you success with your goal.

However, as always I must say:

Trade Safe!

Popov's Website

4 Reply by qattack (edited by qattack 2017-08-08 20:38:24)

  • Registered: 2017-07-24
  • Posts: 99

Re: New FSB User Hoping To Earn His First Million Before He's 50

I am very aware of trading pitfalls. These are the same reasons why many otherwise great poker players have blown their entire bankrolls more than once.

Stu Unger, arguably the greatest poker player who ever lived, was the only player ever to win the World Series of Poker three times. He won in 1980 ($385k), 1981($370k), and...1997($1M).

This last year, he was penniless and friend gave him the $10,000 to participate.

He had gambling and drug addictions and played in poker games far beyond his bankroll requirements.

A year later, he died in a Vegas hotel room, broke and heavily in debt, most likely from a heart attack caused by his years of drug use.

Managing your trading money poorly is the same thing as gambling or playing in stakes too high for your bankroll.

Phil Ivy, one of the best cash games players today, also has a tendency to play in games too large for his bankroll (and often he has millions). He can depend on quickly getting a $100,000 stake together from friends if he needs it, though. I don't think any of us can depend on that if we bust our $5,000 FOREX account. smile

  • Registered: 2017-04-29
  • Posts: 24

Re: New FSB User Hoping To Earn His First Million Before He's 50

qattack wrote:

OK, I'll be 50 in 6 months, so maybe that's out of the question.

My name is John and I'm new to FSB. Until last year, my full-time profession for the previous ten years was playing poker on the Internet. The ten years before that, half my income was from poker (live or Internet) most years.

During the last few years, beating poker for a living has become increasingly more difficult and it's become tedious and too much like a real job. I played 12 to 18 cash game tables simultaneously, and literally couldn't take my eyes off the screen for two to three hours at a time.

Many professional poker traders have recently transitioned to earning their incomes through trading. Poker and trading use very similar money management (and many other) skills, but trading has the advantage that you can increase/decrease your investment and risk to a much finer degree.

The highlight of my poker career was living and playing in the Philippines for three years. My goal is to once again obtain a steady Internet income and do more traveling.

I spent two months full-time learning to trade FOREX markets manually (towards the end of last year).  I started a new job and put it aside for a short time. In April of this year, I purchased StrategyQuant (a competitor to FSB) and have been generating non-stop.

...until this week, when I found FSB! Whereas there was not a lot I could do to affect the strategies generated by SQ, with FSB I can customize them to my liking. SQ is more like a slower version of EA Studio with a couple different features (and without the automatic workflow). And FSB is infinitely more versatile than EA Studio.

I was impressed that I can actually use trading experience to help myself create more effective EAs, rather than just throwing everything against the wall and hoping something will stick. Of course, I'm just learning about its features, but I'm excited about my prospects with the software.

I have a mathematics/statistical background and because I don't yet understand how the markets behave and react, I rely almost exclusively on numbers. I'm sure better traders combine the two elements, but I believe numbers are the foundation of good trading. The most important element otherwise (I believe) is Support & Resistance and I've been trying to conceptualize if and how this can be effectively incorporated into an indicator.

I will be super-active in the forums and probably ask a lot of "dumb" questions on my journey. But that's OK, I'm sure a lot of other users will those same questions. I'll also have a lot of ideas and opinions that will probably go against conventional thinking, some good, others horribly wrong. But I'll learn!

ThanX!
John

L
Start with a balance you want and this you think is real

  • Registered: 2017-07-31
  • Posts: 3

Re: New FSB User Hoping To Earn His First Million Before He's 50

Yeah, it's funny. But more scary so that it's not that "deadly" for your wallet)

  • Blaiserboy
  • Blaiserboy
  • Junior Part-Time Aspiring Space Cadet
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  • From: Toronto
  • Registered: 2010-09-06
  • Posts: 2,849

Re: New FSB User Hoping To Earn His First Million Before He's 50

I have made a bit using FSBPro and also the original FSB.

My success has been from using small lots and small stop losses...

I have not figured out yet how to make the huge gains, my approach remains small lot sizes and small stops.

I have to run quite a few strategies. They are all very simple. I do nothing that is sophisticated in developing strategies as that usually causes curve fitting difficulties.

I also have to deal with impatience and frustration... lolol

With persistence, FSBPro will allow you to make some good money and keep it......, gambling with large lots and large stops and big leverage will be scary (in my experience).

My method is simple... I try to add one or two strategies each day and weed out the poor ones when they go bad.  I use the higher time frames as they are easier to optimize.

Blaiserboy's Website