You are only as good as your last trade. There is no better way to say it.
2
1 trade per pair per year 6 replies
WEE!! Tradin' currencies....(15 min, PA based journal) 3 replies
multiple systems per pair/multiple pairs per system? 3 replies
Trading 24 hours per day, 5 days per week 14 replies
DislikedRR is a made up number from your imagination. How does that prove you can trade? You are predicting a market move, not trading it. Basically it means you have no exit strategy. You are just hoping the market will move according to your guess. Are you telling me that someone who guesses on exits is a trader? LOL.Ignored
Disliked{quote} Alright I understand exactly where you are coming from and I believe the difference lies in the definition of how you and I define success. I need to be fully convinced by my standard if that somebody is really successful just as he/she claimed to be. Moving the SL before achieving the desired RRR somehow blurred the need of which I need to be fully convinced. Hope you can see my view from this perspective. Tks for your view and I appreciate your interest. GSIgnored
Disliked{quote} There is no mention of drawdown in your measurement? Why and what's your max drawdown in last 12 months ( from peak equity to trough equity). Notice that i mentioned equity curve and not account balance curve in mt4 used by scammers to lure noobs. To me success is primarily protecting trading capital first and foremost. If you shift your gears towards capital protection, i can guarantee you, profits will organically follow. My target maximum drawdown is 15%. Do you consider this a decent number? I would be exstatically happy if I make 5-10%...Ignored
DislikedFurther to my previous post, my method of knowing is to simply ask those who claimed that he or she who is successful to make 5 live trade calls complete with SL and TP and RR of 1:2 minimum. SL cannot be moved unless min RR is reached or achieved. If the success rate is less than 60% or less than 3/5 correct calls, then the answer is obvious for anyone to know. There is no need for any TEs and whatnots. Simple as that! So for anyone who wish to claim that they are successful this simple test will either prove or disprove their claim regardless...Ignored
Disliked{quote} There is no mention of drawdown in your measurement? Why and what's your max drawdown in last 12 months ( from peak equity to trough equity). Notice that i mentioned equity curve and not account balance curve in mt4 used by scammers to lure noobs. To me success is primarily protecting trading capital first and foremost. If you shift your gears towards capital protection, i can guarantee you, profits will organically follow. My target maximum drawdown is 15%. Do you consider this a decent number? I would be exstatically happy if I make 5-10%...Ignored
Disliked{quote} If you are trading this style for more than 3 yrs, hats off to you bro. I tend to believe very few humans can trade discretionary on the single chart/timeframe beyond 3 yrs with consistency. Its mind numbing work (for me) to trade manually a single setup day in and day out. Not many can understand my manual trading style after spending hours on skype as i trade events and only arrive on the scene when there is chaos. I am wired to conduct spatial analysis (0 to 60 in 2 seconds type of thought process resulting in intense focus driven aggressive...Ignored
Disliked{quote} https://www.forexfactory.com/showthread.php?p=10296563#post10296563Ignored
Disliked{quote} There is no mention of drawdown in your measurement? Why and what's your max drawdown in last 12 months ( from peak equity to trough equity). Notice that i mentioned equity curve and not account balance curve in mt4 used by scammers to lure noobs. To me success is primarily protecting trading capital first and foremost. If you shift your gears towards capital protection, i can guarantee you, profits will organically follow. My target maximum drawdown is 15%. Do you consider this a decent number? I would be exstatically happy if I make 5-10%...Ignored
DislikedI wonder how many successful traders woke up today, turned on the computer, opened Forexfactory, saw this question and thought: "What can I do to earn the trust and confidence of genghistar? How could I prove myself to him and to others, that I'm successful?" You are not the first to ask this question, but this never ever ever will entice any successful traders to share their strategy. It will only attract more bullshitters, they attach their fake TE and statement, and then mention that by the way they have a course, or an indi, or live trading...Ignored
DislikedFurther to my previous post, my method of knowing is to simply ask those who claimed that he or she who is successful to make 5 live trade calls complete with SL and TP and RR of 1:2 minimum. SL cannot be moved unless min RR is reached or achieved. If the success rate is less than 60% or less than 3/5 correct calls, then the answer is obvious for anyone to know. There is no need for any TEs and whatnots. Simple as that! So for anyone who wish to claim that they are successful this simple test will either prove or disprove their claim regardless...Ignored
Disliked{quote} There is no mention of drawdown in your measurement? Why and what's your max drawdown in last 12 months ( from peak equity to trough equity). Notice that i mentioned equity curve and not account balance curve in mt4 used by scammers to lure noobs. To me success is primarily protecting trading capital first and foremost. If you shift your gears towards capital protection, i can guarantee you, profits will organically follow. My target maximum drawdown is 15%. Do you consider this a decent number? I would be exstatically happy if I make 5-10%...Ignored
DislikedYou have profit factor and sharpe ratio...both together give you a good idea about how good your trading really is and what needs improvement.Ignored
Disliked{quote} Thanks Dave. You understand the big picture. I really mentioned elsewhere recently that trading income has to be measured on a per hour of effort put in when trying to replace it with full time paycheck. I am currently saving more than 20% of my paycheck every week for past 2 yrs towards trading and invvestments capital. If everything goes according to plan, in five years, i will be spending less than few hours per week of screen time if i am successful with my automation of limiting max DD to under 15%. . 10-15% annual yield will be enough...Ignored
Disliked{quote} Yep. I understand. My capital will be upward of $500K that is why it is CRUCIAL to max max DD of 15%. Profits become insignificant at that level (to me). My manual trading of ultra-high risk during events typically has averaged +3x every year for past 6 yrs but only on a small account (under $10K) and lacks consistency. I am sick of trading small accounts... just not worth my time and stress as there are better places to park capital with relative ease and safety.Ignored
DislikedHave you ever wish for a veritable method to gauge or ascertain if somebody is indeed a successful trader as they claimed to be. We have many traders here who attached their TE as a proof of their trades BUT how do we know if he is successful or not. I have a fairly good idea to enable myself to know if someone is successful or not without looking at his TE or a duly certified P n L statement. I have often wondered if there is anybody who can also do the same and I will be extremely excited and grateful if I can find someone who can also do the...Ignored
Disliked{quote} There is no mention of drawdown in your measurement? Why and what's your max drawdown in last 12 months ( from peak equity to trough equity). Notice that i mentioned equity curve and not account balance curve in mt4 used by scammers to lure noobs. To me success is primarily protecting trading capital first and foremost. If you shift your gears towards capital protection, i can guarantee you, profits will organically follow. My target maximum drawdown is 15%. Do you consider this a decent number? I would be exstatically happy...Ignored