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-   -   Transition to full time trading (hopefully) (https://www.forexfactory.com/thread/993430-transition-to-full-time-trading-hopefully)

AmmaBoss May 8, 2020 5:27pm | Post# 21

{quote} I personally do not think it is worth trying to refine a strategy with a 1.5-pip stoploss. Even if you do somehow manage to profit consistently on a demo account, I have doubts it would work on a live account with slippage. Especially if you're trading during news. Your account will most likely experience death by a thousand cuts. You said it yourself that unless you are scalping, there is not much of a difference between demo and live. You, however, are scalping. Even if you aim for 100 pips, you still are not giving enough room for error....
- It would work on live as I only enter a trade with limit orders therefore slippage will not be a problem.
- I do not trade during news, I made the demo and didn't check the calendar as I normally do when trading my live account.
- It's is scalping but again I am using the limit orders as I am aware the demo execution may be a bit faster If I do it manually
-what is realistic? please don't tell me the norm because 99% of traders lose money and it can't be due to lack of disciple alone, traditional methods are flawed some more than others.
- The spread is.5 pip on average, the stop loss is taken to break even very very fast. Capital preservation is key.
- when trading momentum I do not expect the market to move against me very much if it does then I was wrong.

autemfx May 8, 2020 6:32pm | Post# 22

{quote} - It would work on live as I only enter a trade with limit orders therefore slippage will not be a problem. - I do not trade during news, I made the demo and didn't check the calendar as I normally do when trading my live account. - It's is scalping but again I am using the limit orders as I am aware the demo execution may be a bit faster If I do it manually -what is realistic? please don't tell me the norm because 99% of traders lose money and it can't be due to lack of disciple alone, traditional methods are flawed some more than others....
Well, I already gave you my opinion. An opinion is an opinion. Nothing more.
Just do your thing and feel free to prove me wrong. I see that you created a new TE. I wish you the best.

metta87 May 9, 2020 1:04pm | Post# 23

I have no abandon this journey. However, I got enough data to prove that I do in fact have a major edge. Currently not trading as I am trying to change to a broker that offers high leverage the idea behind that move. Why deposit 2,000+ to be able to trade a high lot size. When I can simply deposit $50-100$ and utilize high leverage to make massive returns then withdraw weekly and restart with the $100. The idea is to have the minimum amount of money in my trading account hereby removing the emotional hurdle in trading. Due to COVID - 19 however...
Do you mind telling more about this major edge ? Have you seen other people that also trade similar to you ? You posted a 0.5 pip range bar chart a while ago, do you also use RB to trade or regular candlestick ? thx

AmmaBoss May 9, 2020 7:47pm | Post# 24

{quote} Do you mind telling more about this major edge ? Have you seen other people that also trade similar to you ? You posted a 0.5 pip range bar chart a while ago, do you also use RB to trade or regular candlestick ? thx
I do not believe 99% of persons would be able to trade the way I do.
-Your options for a broker are quite limited especially in countries like America, Not many brokers meet the spread requirement therefore at least 90% of people won't even be able to trade the edge.
- Many brokers leverage are now capped at 30 so unless you have a huge account making money on such a low timeframe is difficult.
-Then even among those with low spread and high leverage, 90% of those traders use a time base chart which is almost impossible to notice the edge.
- even with range bars, the edge seems to disappear the higher the brick size so it's very very difficult to see( took me years ).'
Not willing to share much more, however.
If you don't move your stop loss during the TRADE the edge disappears.

jinsen May 9, 2020 9:46pm | Post# 25

Your dd seem high..but that is not knowing your actual capital.
Your strategy involving average and hedging ?
Don't put so much feeling into the trade and I wish you
The best in your full time

>Apocalypto< May 9, 2020 9:54pm | Post# 26

AmmaBoss,

Good on you for an honest trading journey.

AmmaBoss May 11, 2020 12:27pm | Post# 27

As expected the price is moving super fast, It will take some time before I get used to how fast price moves so a few errors made and a few opportunities were missed.
I also need to remember that I can run trades for a much larger R to R.
Anyway, there's something I wanted to discuss it seems a lot of the impact member on the forex factory know's nothing about trading.
How can you be trading for years and have zero understanding of forex?
A while ago, I made a comment saying hedge fund can't utilize to leverage like retailers hence their gains should be significantly low, Literally everyone disagreed with me.
-Yet it's a well-known fact hedge fund does have liquidity issues, so now ask yourself how can someone with liquidity issues utilize leverage as good as someone without?
- They claim 3%+ a day is impossible yet traders like davit have proven time and time again it is not.
- They claim the 1 min time frame is nothing but noise yet it is in fact far more accurate than any other.
- They claim that you need 1000+ trades to determine an edge, however, the amount of trades needed to determine an edge depends on the timeframe. As the only cost to trading is the spread the higher the timeframe the more luck can impact your results and you may believe you have an edge when you don't and by the time you realize what had happen months of your time were wasted. I dare any member to show me a positive trading account after only 30 trades using a 1.5 pip stop loss I bet all will fail because you need more than luck to make it on such a timeframe, you need to have an edge. Which is why I recommend all members to test every system on the lower timeframe to avoid wasting their time.
I can comfortably risk 3% of my capital on pip and gain as little as 1 pip a day and earn more % wise than 99% of the forex forum yet they will insist you can't earn money on such a time frame.

AmmaBoss May 11, 2020 1:36pm | Post# 28

Decent day 17.5% profit, paid about 30% in commission but that's all right.
After a day like this, the account balance should never go below the starting balance.
Tomorrow should be better.

FXsniper111 May 11, 2020 1:45pm | Post# 29

This is scalping with a big S.....close as soon as goes against you...Good luck on your venture...

autemfx May 11, 2020 1:54pm | Post# 30

I dare any member to show me a positive trading account after only 30 trades using a 1.5 pip stop loss I bet all will fail because you need more than luck to make it on such a timeframe, you need to have an edge. Which is why I recommend all members to test every system on the lower timeframe to avoid wasting their time. I can comfortably risk 3% of my capital on pip and gain as little as 1 pip a day and earn more % wise than 99% of the forex forum yet they will insist you can't earn money on such a time frame.
Before "daring" any members to use their time and energy on such a challenge, wouldn't it be fair for you to be an example first?

I was planning on keeping an eye on your journey, but it seems like you've already taken your first demo Trade Explorer down after one day of trading and started a new one. A long track record is much more reliable than a statement saying you can earn a certain % consistently.

I agree with most of what you said, but I disagree with your opinion that 'lower timeframes are more reliable as there are less variables such as luck that can impact the trade.' When you're scalping, the spreads impact your trades much more on every single trade. Spreads are not something you can control, and any trader would know that spreads are not as steady as we would like it to be. It changes a lot depending on volatility/volume. It would actually be the biggest variable you must consider if you are scalping with a 1.5-pip stoploss.

When it comes to higher timeframes, as long as you back-test enough years/data, you are testing how your strategy works in all sorts of different market environments with various events. The reason why people back-test more data is to have more proof that it was not purely based on luck. Of course, nobody (longer-term traders or scalpers) can be fully prepared for black swan events and we cannot get rid of "luck" entirely. However, I would say spreads are a much bigger variable that impacts scalpers directly than the "luck" variable you talk about for higher timeframes.

Due to the fractal nature of the markets, I would say higher timeframes are on the same level of importance as lower timeframes, if not more. It would definitely not be less reliable.

AmmaBoss May 11, 2020 9:35pm | Post# 31

-Spread is relatively stable unless you are trading news, you should have a range where you expect your spread to be in 99% of the time. imagine you are trading on the higher timeframe 50 pip stop loss vs 50 pip Tp after 100 trades It's not unlikely to win 55 and lose 45 in a random series, you P and L will indeed be positive despite your results being pure luck.

AmmaBoss May 11, 2020 9:38pm | Post# 32

This is scalping with a big S.....close as soon as goes against you...Good luck on your venture...
If only if that was simple but obviously if I enter the market randomly then the spread would destroy the account but ok.
I do move to break even after I obtain a 1:1 risk to reward so every breakeven trades at one point earn more than the stop, and as you can see there are more Breakeven trade than losers so what does that say?

autemfx May 11, 2020 11:38pm | Post# 33

{quote} I have traded with a 3 pip stop and made over 500% so there's that.
That's great. I hope that was a live account. Personally, statements don't mean much without proof to back it up.

{quote}Now I want you to take 100 trades with a 1.5 SL the odds of you being profitable are near 0 even if you won 70 trades and lost 30 you would likely be negative so after a series of trade the lower the timeframe the more of an edge you must process to overcome it. -
I understand what you mean by this. If you can come out positive with a 1.5 stoploss, you're saying it's really an edge for sure as you minimized all other variables.

{quote} - imagine you are trading on the higher timeframe 50 pip stop loss vs 50 pip Tp after 100 trades It's not unlikely to win 55 and lose 45 in a random series, you P and L will indeed be positive despite your results being pure luck.
This I do not agree with. You jumped to the conclusion that higher timeframe results are a result of "pure" luck. You just jumped from 1 to 100 without explaining why. It is true that you cannot fully eliminate the "luck" variable, but that is the whole point of back-testing and forward-testing a lot of data. To see if your strategy works in various market environments. To see if your strategy isn't purely luck.

I get that you want to minimize all other variables that affect your trades as much as possible by using lower timeframes, but I'm saying that spreads will most likely negatively affect your trades more than "luck" affecting higher timeframe trading. Especially if you have a 1.5 pip stoploss.


I know this is your personal journal and not a trading discussion thread, so I'm sorry for keep challenging(?) you in a way. I was hoping my 2 cents would help your trading journey, but who am I to give advice, right? Just do your thing and if you prove me wrong on a live account with consistent profits over a long period of time, good for you! You will earn a lot of money and I'll give you a round of applause.

FXsniper111 May 12, 2020 5:27am | Post# 34

{quote} If only if that was simple but obviously if I enter the market randomly then the spread would destroy the account but ok. I do move to break even after I obtain a 1:1 risk to reward so every breakeven trades at one point earn more than the stop, and as you can see there are more Breakeven trade than losers so what does that say?
I trade Renkobricks of 6 pips and scalp one box with one box stoploss and the way i do it is that when TP is hit of 6 pips i dump half the possision and move the stop to BE+1.5 to se if i can get a runner and sometimes i do,but when it goes against me after dumping half i still have 6 pips of half the possision and 1 pip from the BE taking spread away....

AmmaBoss May 12, 2020 5:32am | Post# 35

{quote} I trade Renkobricks of 6 pips and scalp one box with one box stoploss and the way i do it is that when TP is hit of 6 pips i dump half the possision and move the stop to BE+1.5 to se if i can get a runner and sometimes i do,but when it goes against me after dumping half i still have 6 pips of half the possision and 1 pip from the BE taking spread away....
my stop loss is preset so my method seems very different from yours...
Also, your trade explorer is a fraud it says you have 25 trades but you just made multiple entries at one price.

FXsniper111 May 12, 2020 6:21am | Post# 36

{quote} my stop loss is preset so my method seems very different from yours... Also, your trade explorer is a fraud it says you have 25 trades but you just made multiple entries at one price.
if you read my journal i write that dont pay attention to thoose trades cause was just expeiment even the entrys was good......And why so hostile i had no intention of critizize you at all i just said what try to do even most my trades are just a few pips....I will not post here again...Sorry if i offended you...

AmmaBoss May 12, 2020 6:39am | Post# 37

{quote} if you read my journal i write that dont pay attention to thoose trades cause was just expeiment even the entrys was good......And why so hostile i had no intention of critizize you at all i just said what try to do even most my trades are just a few pips....I will not post here again...Sorry if i offended you...
My apologies was annoyed by the fact that you claim my stop loss was wide ... when I clearly stated it was 1.5 pips.

FXsniper111 May 12, 2020 7:12am | Post# 38

{quote} My apologies was annoyed by the fact that you claim my stop loss was wide ... when I clearly stated it was 1.5 pips.
I used to trade 1.5-2 pips SL myself that was why i said scalping with big S,but i wasnt disiplined enough and moved my stop when price where going against me so the losses where to big against my wins and i had TP only 1-2 pips...Again good luck

AmmaBoss May 12, 2020 7:38am | Post# 39

Winning trades were there today just missed them, really unlucky day so far.
Missed about 5 winners, missed about 5 losers also but winners are worth 3x as much.
So it pretty depression , need to regain focus.

Edit :
Trading took a turn for the worse today, not because of the edge not being there but due to late entries and miss opportunities.

AmmaBoss May 12, 2020 10:08am | Post# 40

Loss 30 dollars due to a mistake.


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