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Yet another 100 to 1000 (done) to 10000 (WIP) journal! (Scalping) 16 replies

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0 to 10000%: Big RR

Quoting Supertrader9
{quote} Its equity that you use to open trades. Say your balance is 100k and your equity is 500k, you can open more positions. If then your equity dropped, your positions are still valid until you get to stop out level. Usually brokers will have 30% margin stop out level or 10% or 50%.

so your broker will stop you out by 10%, thats big broker risk over the weekend. heavy to see that any broker will do this risk , i only did see this with fake brokers.

calculate it:
your 500:1 leverage (whats already crazy) is with 200 lots 40.000 usd as margin. so your broker will get you a margin call by 4000 (if your broker has the 10%, but 10% is incredible low, the broker has big risks) and over the weekend the broker will have all the risk on his site to lose extrem big money? what a stupid broker is this? are you sure its real accounts, in demo i can understand it, but in real account the broker must be crazy and like to lose money with no advantage. only some pips move have extrem big value with 200 Lot.

for the rest: of course the margin will be calculated from equity (what else????), all will be calculated from equity, balance is useless in trading. but this normal fact will not help in your case until you are in win or have calculated moneymanagement.

edit:
now i rechecked on your broker website, now its really strange: your margin in your account is calculated by :
Balance Max Leverage
$1 000 1:1000
$5 000 1:500
$20 000 1:200
$100 000 1:100
∞ 1:33

so looks like you could only have this 1:33 or 1:100 leverage (but then you would be have stop out level triggered allready), or is your account a small cent account and this brokers calculates then the margin inside this cent account not as this balance in account and recalculate it as real money balance (so splitted by 100)?
at least this is a extrem strange broker.
Quoting Supertrader9
{quote} My current risk per trade is very high. Even though I have very high hit rate I still should be wary of unexpected events. Trading 100% of your account per SL is not a very wise idea. Again, current account is just to show that I could reach 10,000% in the shortest amount of time. Artcool: Yes, I probably would cut the AUDUSD trade once price retraced. USDCAD might be a better trade.
I feel you. I came from the same mentality. trade aggressively. But at the same time you gotta to know when to pull the plug. I would usually get out at 20-30% loss in worst case scenario. managed to grow 30k to +200k with 50:1 leverage (with Oanda mind you). then shit hits the fan..and i came spiraling down... But i managed to get +50k profit to show for it at least.

i hope you get out of this soon. and like i said, all these growth % is just numbers flashing on screen unless you withdraw. good luck man
Working towards CME membership
Quoting hilmy83
{quote} I feel you. I came from the same mentality. trade aggressively. But at the same time you gotta to know when to pull the plug. I would usually get out at 20-30% loss in worst case scenario. managed to grow 30k to +200k with 50:1 leverage (with Oanda mind you). then shit hits the fan..and i came spiraling down... But i managed to get +50k profit to show for it at least. i hope you get out of this soon. and like i said, all these growth % is just numbers flashing on screen unless you withdraw. good luck man

Thank you for your kind words.
you have to have at least a portfolio stop loss of 50% from equity high. if that happens; you need to cease trading that strategy abd develop a new one
this account proves that you are a really good trader and you have ability to make money from the market. so congratulations.

you just lack self control and discipline so now you need to work on that part, if possible close trades and take money from table and start again with more discipline again.
You may want to check this wiki page: Gambler's fallacy. https://en.wikipedia.org/wiki/Gambler%27s_fallacy

The gambler's fallacy, also known as the Monte Carlo fallacy or the fallacy of the maturity of chances, is the mistaken belief that, if something happens more frequently than normal during some period, it will happen less frequently in the future, or that, if something happens less frequently than normal during some period, it will happen more frequently in the future (presumably as a means of balancing nature). In situations where what is being observed is truly random (i.e., independent trials of a random process), this belief, though appealing to the human mind, is false. This fallacy can arise in many practical situations, but is most strongly associated with gambling, where such mistakes are common among players.
It's funny how the public is quick to judge someone else's issues forgetting that there's might be worst off.
Well this happens when you make your dealings public,especially when you have something to prove which might just backfire.
Quoting 0toinfinity
this account proves that you are a really good trader and you have ability to make money from the market. so congratulations. you just lack self control and discipline so now you need to work on that part, if possible close trades and take money from table and start again with more discipline again.
i cant see your point?

why in any case you think the account shows he is a really good trader? you only see most of the time losing trades in this account (after account was presented). you cant judge trades from history before account was presented, this is impossible to judge because to easy to fake this wins. you need to learn the basics or read the complete thread, its really important that you learn to judge people and results correct, having wrong opinions about such things can kill many of your money in this business. but is up to you.
I wanted to check in on my fav TE guy holey shit what happened? I took a hit on AUD myself but closed out. I do agree its toppy here for a minor retrace. Hope you get it all back but if you wanted to start running money like we PMd I would mind the drawdowns as that is scary . GL Man
Quoting jplazard
I wanted to check in on my fav TE guy holey shit what happened? I took a hit on AUD myself but closed out. I do agree its toppy here for a minor retrace. Hope you get it all back but if you wanted to start running money like we PMd I would mind the drawdowns as that is scary . GL Man
Is this pair in selling LoL
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Trade fearless not careless...
Easy Return This Year: na
Quoting jplazard
I wanted to check in on my fav TE guy holey shit what happened? I took a hit on AUD myself but closed out. I do agree its toppy here for a minor retrace. Hope you get it all back but if you wanted to start running money like we PMd I would mind the drawdowns as that is scary . GL Man
This is 100m sprint and that was walking around the world to be completed in several years. Very different approach would be taken.
I think AU will drop like a rock soon and he will hit his target set in this thread title sooner or later.... Anyway, even if he blows this account, it must be the money he can afford to lose, i am sure. He already clearly explained why he does this publically in this thread. He knows what he's doing, don't worry.
Simplicity is the ultimate sophistication - Leonardo da Vinci
Quoting heispark
I think AU will drop like a rock soon and he will hit his target set in this thread title sooner or later.... Anyway, even if he blows this account, it must be the money he can afford to lose, i am sure. He already clearly explained why he does this publically in this thread. He knows what he's doing, don't worry.
why?
can you at least tell the people why you come to this conlusion?

ofcourse he can afford to lose this money, looks like an extrem small cent account (or even demo account, i dont know this broker), he has open many of this and presents some when has good wins in past.
but that he is knowing what he is doing you can see from what exactly? near any trade after presenting was wrong until now? you need to learn that you can only count rersults after presenting, before is uncountable. we really look at the same account?
Quoting Supertrader9
{quote} This is 100m sprint and that was walking around the world to be completed in several years. Very different approach would be taken.
I'm wondering about a few things about what you have presented here. First, you are clearly trading with high leverage, right? And, in an earlier post, I believe you stated that you risk no more than 2-4% (in Post 25 of this thread), which, if you are trading high leverage, is a fundamental requirement of trading (to trade with a stop). However, your open positions are way out of line with your stated rule. Why? If you have a method, you must have rules to trade by, and I'm wondering why you'd violate a rule? And what other rules are you willing to violate? It seems to me that if you don't follow your rules, then you don't really have a method.

Second, I've been buying the A/$ for a week now (actually since mid-December), so I'm very happy that I've found the guy on the opposite side of my trading. I know why I am buying the Aussie, but am curious as to why someone would be selling it now, aside from a belief or hope that its about to fall like a rock, which seems like a misplaced notion for someone who risks money for a living.
well the runup really coincided with all commodities which have been on a tear the last month notably copper but it's literally had no pause and even though inflation percieves to have picked up, copper, steel and secondary metals should come down a bit this week (yet to be seen) where AUD should retest lower. But yes, the overall trade is to be long until data PMIs etc show otherwise.
Quoting jplazard
well the runup really coincided with all commodities which have been on a tear the last month notably copper but it's literally had no pause and even though inflation percieves to have picked up, copper, steel and secondary metals should come down a bit this week (yet to be seen) where AUD should retest lower. But yes, the overall trade is to be long until data PMIs etc show otherwise.
Yep, the market structure of this pair has been a screaming buy since mid-December, and while the bias remains up, there is room for caution in the coming week. But, there is also reason to believe that there is more upside potential here, after a retrace or a pullback. Again, not sure why you'd bet on a fall here (yet), and to top off this mistake, build a buy position here with multiple trades. To you new traders out there, never build a position in a negative trading situation, only in a positive situation.
Quoting dukas_trader
{quote} bad question, try to answer for your own. its needed exactly this cheating style presentation. you dont need a equity for this, why. you calculate in percent, so any equity is same. you need demo account or cent accounts or a fake broker, where you can put in what you want and have demoaccount shown as live account,.... many possibilities. you need showing account after you have already many 1000% you need luck for last trade you show, you have 50/50 for this, then many beginners will believe you , you are a super trader and same...
I have not heard of someone creating fake brokerage. How the F is that possible?? If it is, then nothing in retail FX is reliable and i am spot on by saying the entire retail spot FX industry is a complete scam including FF, myfxbook etc that becomes the enabler of such Scam to take place. Its becoming a sad place to waste my time here :-(
Staying in my lane...
Quoting VEEFX
{quote} E we heard of someone creating fake brokers. How the F is that possible?? If it is, then nothing in retail FX is reliable and i am spot on by saying the entire retail spot FX industry is a complete scam including FF, myfxbook etc that becomes the enabler of such Scam to take place. Its becoming a sad place to waste my time here :-(

you can work together with a scam broker or found your own whitelabel broker. you can change anything in any account from this broker later, any entry/exit.... whatever you want. you can design and create whatever result you want. some broker do so, then marketing a pamm (only allowed with this broker), then wait until enough idiots pay in the pamm accounts and show very good paper wins always ofcourse (or best until there want more people withdraw money then bring in new money), then let the pamm crash and own the money, and restarting......

of course a TE and myfxbook is 100% worthless until the time the account is presented, history before is fakeable to extrem easy with many methods. later it is only not more fakeable when you dont use a scam broker (and work together) or your own whitlabel broker. thatswhy always count results after someone present account and prsenting time is first day to count, before anyone can be a winner and thatswhy this results are not worth any cent (really only beginners trust someones history if not testified and over very long time). very short time testified is useless too, same with only some trades in.

but even after presenting account you can of course fake, you can open with different names accounts and present and trade different directions /currencies then later inside this, and you will always have many survive with big wins and some killed......

thats the problem: you only know the true result when you see all accounts someone has (all values from starting time till endtime (not even only accounts, all whats money worth), so no cheating possible. you dont get this information, always people will present them better then they are. they try to show best possible way, in reality all are extrem worst, 99 are even opposite to what they show.

any experienced trader (and a beginner trader who learned basics step by step) know, that you cant compare accounts, complete impossible, you can only compare complete assets of one trader with an other trader over same time period. but trust me, near 100% of people dont know this or dont understand this simple fact and compare complete bullshit and then you can even see some find some people good trader who present crazy results. some are even jealous of people who got many percents win, but cant check with what costs this results was done and that in most cases there are not wins all together or they are much much smaller in reality all together. endless story, simple math and statistic would help so much for many people, or at learning all basics before starting trading would help increase results extrem (there are basics math and statistics for trading included).
Quoting dukas_trader
{quote} you can work together with a scam broker or found your own whitelabel broker. you can change anything in any account from this broker later, any entry/exit.... whatever you want. you can design and create whatever result you want. some broker do so, then marketing a pamm (only allowed with this broker), then wait until enough idiots pay in the pamm accounts and show very good paper wins always ofcourse (or best until there want more people withdraw money then bring in new money), then let the pamm crash and own the money, and restarting.........
Interesting but i don't want to focus on actions by broker or white label resulting in scams. What i don't understand is whether there is a way to create a completely fictitious broker entity. I have only relied on US based brokers plus two other offshore brokers with no more than several tiny accounts so i am a complete noob in this space. Could a fake entity be created with real broker server's ip address that FF can connect to and validate account information without knowing about it? Again, i am focussing on the company structure, server infrastructure, client/server connectivity, price feeds from LP, registration with regulatory authority etc OUTSIDE of fake broker or white label provider's control. I don't care about trading stats or performance or margin or leverage or stop outs etc. I know they all can be faked and scammed.
Staying in my lane...
And finally it amazes me tremendously how so many smart and intelligent individuals here on FF can trust Metaquotes trading platform. It is the number one reason why traders fail imho. I would be the first to support NFA putting a permanent ban on this trading platform. It is only good for research, data analytics and strategy development (everything before an order is sent to the broker and after the order is closed out to bypass broker's back office ability to manipulation)..just saying
Staying in my lane...
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