The week finished at +0.73%. Not the strongest week, but most definitely a profitable week!!
Return on Equity: 2017, 32.4%; 2018; 8.0%, 2019 (30Apr), 4.5%
- #41
- Jul 22, 2017 1:45am Jul 22, 2017 1:45am
- #42
- Jul 22, 2017 3:58am Jul 22, 2017 3:58am
- | Commercial User | Joined Aug 2014 | 3,922 Posts
{quote} For me that is a good week. If you were to do that every week of the year, compounded that's over 45%pa. Not a bad return at all.
Not to mention that this week and the next trading is in vacation mode.
Hope your have finished the week in green too!
there is always, always another trade!!
- #43
- Jul 24, 2017 6:42pm Jul 24, 2017 6:42pm
- | Commercial User | Joined Aug 2014 | 3,922 Posts
there is always, always another trade!!
- #44
- Jul 25, 2017 4:13pm Jul 25, 2017 4:13pm
- | Commercial User | Joined Aug 2014 | 3,922 Posts
there is always, always another trade!!
- #45
- Jul 26, 2017 3:43am Jul 26, 2017 3:43am
- | Commercial User | Joined Aug 2014 | 3,922 Posts
there is always, always another trade!!
Dude, I was taking a look at your trade explorer and I have to say that it is simply spectacular. Your profit by days chart is almost a perfect diagonal. How do you keep it rising so steadily? Man, it really looks like your trading system is not affected by anything the market does, you just go up, up, up.
I hope that it keeps going up because it is quite an inspiring sight
I'll be following your journal since my goal would be to one day achieve this kind of steady growth so that I can do this for a living and not just as a hobby.
I hope that it keeps going up because it is quite an inspiring sight
I'll be following your journal since my goal would be to one day achieve this kind of steady growth so that I can do this for a living and not just as a hobby.
- #47
- Jul 26, 2017 8:45am Jul 26, 2017 8:45am
- | Commercial User | Joined Aug 2014 | 3,922 Posts
Dude, I was taking a look at your trade explorer and I have to say that it is simply spectacular. Your profit by days chart is almost a perfect diagonal. How do you keep it rising so steadily? Man, it really looks like your trading system is not affected by anything the market does, you just go up, up, up. I hope that it keeps going up because it is quite an inspiring sight
Thank you for checking it out here.
Not sure how the graphics look of the TE, frankly, I never checked that view, but I can tell you that I try hard to close every week, if not most days in profit.
Part I think is due the short holding times, most positions closed intraday, and those held usually also represent a small % of equity.
Smooth curve, but most importantly a lower drawdown.
I am also trying to move from part time trading to full time trading, and this account represent some sort of track record. As such, even more careful to keep it in good shape.
Let's just say there is an opportunity lined up, and I am in the progress currently to work out the finer details.
Full time trading is very much a possibility on the horizon.
BTW, looking at your TE, I think it is on the right track.
there is always, always another trade!!
- #48
- Edited 10:06am Jul 26, 2017 9:50am | Edited 10:06am
Just so that it is clear, this is what I was referring to:
You seem to have a very constant growth with no accelerations or decelerations and indeed very little drawdown. It's a cool looking chart, I hope to make mine look like that one day. From what I read in your thread you have been doing this for a while so I bet you're some steps ahead of me by now. Financial freedom is still very far away for me, I only started trading with real money 2 months ago. But also I might be feeling pessimistic because I'm red this week
How are you thinking of progressing into doing this for a living? My plan is to keep trading this account (and others if this one ends up dying) and after I manage to get 3 consecutive months of growth start progressively increasing the size of the account. I estimate that 3 months of growth with little drawdawn would be good evidence that my system is working since this would take opening and closing about 60 positions. Do you have any such goal?
You seem to have a very constant growth with no accelerations or decelerations and indeed very little drawdown. It's a cool looking chart, I hope to make mine look like that one day. From what I read in your thread you have been doing this for a while so I bet you're some steps ahead of me by now. Financial freedom is still very far away for me, I only started trading with real money 2 months ago. But also I might be feeling pessimistic because I'm red this week
How are you thinking of progressing into doing this for a living? My plan is to keep trading this account (and others if this one ends up dying) and after I manage to get 3 consecutive months of growth start progressively increasing the size of the account. I estimate that 3 months of growth with little drawdawn would be good evidence that my system is working since this would take opening and closing about 60 positions. Do you have any such goal?
- #49
- Jul 26, 2017 11:05am Jul 26, 2017 11:05am
- | Commercial User | Joined Aug 2014 | 3,922 Posts
Just so that it is clear, this is what I was referring to: {image} You seem to have a very constant growth with no accelerations or decelerations and indeed very little drawdown. It's a cool looking chart, I hope to make mine look like that one day. From what I read in your thread you have been doing this for a while so I bet you're some steps ahead of me by now. Financial freedom is still very far away for me, I only started trading with real money 2 months ago. But also I might be feeling pessimistic because I'm red this week
For me, it doesn't have to be big, but something that at least gives a sting to lose it.
If there isn't enough money to open such, then best to work for that money first ( and not to gamble trade it together, that can be done for fun, on the side).
For me, this account works like adding regularly to it as profit grows...
The priority being the drawdown.
Lat me make a simple example...
Open account 1000$, decide that max DD should be bellow 15%....
When equity pass 1300$, or +300$ gain, that is a sign that adding + 1000$ to equity, if that -15% happens only wipes out the gains, but won't touch capital.
My current drawdown limit is 10% for myself, and I think the account is ready for more funds.
Prefer this approach vs. the time, less pressure to reach a goal, or any goal.
There is no % gain targets neither, my target is only to stay in the green for the week at least, preferable every week! It is easier to make without big risks, an individual trade, or even a bunch of positions alone can rarely kill a whole weeks profit.
As for trading for a living, it seems like if there is consistency, a track record can be used to try out the prop. trading/money management route, addition trading your own funds.
You would be surprised by the opportunities out there!! I know I am!
And I don't mean jumping thru hoops and paying for endless trials...(will write some more about this probably next month).
there is always, always another trade!!
- #50
- Jul 26, 2017 3:24pm Jul 26, 2017 3:24pm
- | Commercial User | Joined Aug 2014 | 3,922 Posts
there is always, always another trade!!
- #52
- Jul 27, 2017 7:54am Jul 27, 2017 7:54am
- | Commercial User | Joined Aug 2014 | 3,922 Posts
Update:
Both UsdCad and UsdNok positions are closed, and the account is flat currently.
The combined result is: +0.75%
I was early in and early out UNok, but happy overall.
If there is a pullback I am a buyer on both of these currencies, but due the bit hectic moves (maybe cos EU breakouts, built up SL, or whatnot) it might be benefit to use a little caution scaling in.
Anyway, worst running drawdown at any point was bellow 1.5% approx, fine with me.
I know conventional teaching says to have high risk:reward ratio, and my reward is only 0.5x the risk....only that it seems most conventional teaching doesn't seem to work out in favor f the traders, or at least not for me. As long as risk ( as drawdown) in general is a low %ge of the equity, I tink I can work with such reward numbers just fine
Both UsdCad and UsdNok positions are closed, and the account is flat currently.
The combined result is: +0.75%
I was early in and early out UNok, but happy overall.
If there is a pullback I am a buyer on both of these currencies, but due the bit hectic moves (maybe cos EU breakouts, built up SL, or whatnot) it might be benefit to use a little caution scaling in.
Anyway, worst running drawdown at any point was bellow 1.5% approx, fine with me.
I know conventional teaching says to have high risk:reward ratio, and my reward is only 0.5x the risk....only that it seems most conventional teaching doesn't seem to work out in favor f the traders, or at least not for me. As long as risk ( as drawdown) in general is a low %ge of the equity, I tink I can work with such reward numbers just fine
there is always, always another trade!!
- #53
- Jul 28, 2017 5:10pm Jul 28, 2017 5:10pm
- | Commercial User | Joined Aug 2014 | 3,922 Posts
there is always, always another trade!!
- #54
- Jul 31, 2017 5:14am Jul 31, 2017 5:14am
- | Commercial User | Joined Aug 2014 | 3,922 Posts
there is always, always another trade!!
- #55
- Edited 12:16pm Jul 31, 2017 7:41am | Edited 12:16pm
- | Commercial User | Joined Mar 2010 | 1,663 Posts
Love what you're doing here ProfitFarmer!
It's a rare thing to see this on FF....A trader that has the right idea on risk management and also knows what it takes to trade the markets long-term. You're 5.5% profit shows great risk management and control. On top of that, you strategy seems very solid. A 5.5% profitable month system is WAY more impressive to me than a 100%+ month system. A trading strategy and trader shooting for a realistic profit expectation is just so much more valuable.
You have the right mindset to take your trading full-time. It's all about the available capital though to make it work. A good trader with a good strategy needs at least a $50k account to make a full-time income in today's society. Some traders need a bit more or a bit less but typically it falls in the $50k mark. I'm currently managing over $176k and I'm still not making enough for a full time income. Unfortunately, my personal accounts are only $34k of that $176k but it goes to show that building up an account can take years. So many traders are impatient by trying to reach their goals in a matter of weeks or months. This in turn causes a never ending cycle of blown trading accounts. To me, impatience is the main reason the majority of traders lose.
I'm happy to see traders like you here. Examples like yours are very much needed here at Forex Factory!
It's a rare thing to see this on FF....A trader that has the right idea on risk management and also knows what it takes to trade the markets long-term. You're 5.5% profit shows great risk management and control. On top of that, you strategy seems very solid. A 5.5% profitable month system is WAY more impressive to me than a 100%+ month system. A trading strategy and trader shooting for a realistic profit expectation is just so much more valuable.
You have the right mindset to take your trading full-time. It's all about the available capital though to make it work. A good trader with a good strategy needs at least a $50k account to make a full-time income in today's society. Some traders need a bit more or a bit less but typically it falls in the $50k mark. I'm currently managing over $176k and I'm still not making enough for a full time income. Unfortunately, my personal accounts are only $34k of that $176k but it goes to show that building up an account can take years. So many traders are impatient by trying to reach their goals in a matter of weeks or months. This in turn causes a never ending cycle of blown trading accounts. To me, impatience is the main reason the majority of traders lose.
I'm happy to see traders like you here. Examples like yours are very much needed here at Forex Factory!
- #56
- Edited 12:10pm Jul 31, 2017 11:26am | Edited 12:10pm
- | Commercial User | Joined Aug 2014 | 3,922 Posts
Love what you're doing here ProfitFarmer! It's a rare thing to see this on FF....A trader that has the right idea on risk management and also knows what it takes to trade the markets long-term. You're 5.5% profit shows great risk management and control. On top of that, you strategy seems very solid. A 5.5% profitable month system is WAY more impressive to me than a 100%+ month system. A trading strategy and trader shooting for a realistic profit expectation is just so much more valuable. You have the right mindset to take your trading full-time....
There is lots of truth about what you are saying on trading full time, my estimates are similar numbers. And I am currently still bellow those levels.
But slowly my equity is growing, although it is far less impressive as some TE's with huge gains, when I look from the %gain to the actual $gain, things looks much brighter.
As a thought, in your last video you mentioned an experiment...I am in about the same direction, and I think that might be something very beneficial for you to search that way
Won't write more here, maybe in private to share thoughts, but I think you will know the part I am trying to refer to.
It is great to know that you follow my thread, I sure like to read yours and your videos.
there is always, always another trade!!
- #57
- Jul 31, 2017 11:34am Jul 31, 2017 11:34am
- | Commercial User | Joined Aug 2014 | 3,922 Posts
there is always, always another trade!!
- #59
- Jul 31, 2017 12:22pm Jul 31, 2017 12:22pm
- | Commercial User | Joined Aug 2014 | 3,922 Posts
Congratulations for your thread ! I fully subscribe to the words, cubbybgood said earlier this day - you have a very realistic mindset about trading. Count me in. Regards, Oliver
Happy to see you checking my journal out!
Once your RMI indi converted from mt5, I would hope to have a look/comparison how it would look on my trading.
there is always, always another trade!!
- #60
- Jul 31, 2017 3:21pm Jul 31, 2017 3:21pm
- | Commercial User | Joined Aug 2014 | 3,922 Posts
there is always, always another trade!!