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My way to highway

  • #221
  • Oct 4, 2017 9:27am Oct 4, 2017 9:27am
Quoting loadedjoel
{quote} I would have asked you to negotiate better terms but unfortunately, you are not sure of getting paid so jump and pass. you are good at what you do. the right offer will definitely come.
mind reading?

i had my counter proposal, which included monthly fees as per HWM, and higher starting account balance if risk is kept at max 5%DD.
there is always, always another trade!!
  • #222
  • Oct 4, 2017 9:56am Oct 4, 2017 9:56am
Quoting profitfarmer
{quote} mind reading? i had my counter proposal, which included monthly fees as per HWM, and higher starting account balance if risk is kept at max 5%DD.
a million?
  • #223
  • Oct 4, 2017 10:14am Oct 4, 2017 10:14am
Quoting profitfarmer
{quote} mind reading? I had my counter-proposal, which included monthly fees as per HWM, and higher starting account balance if the risk is kept at max 5%DD.



lol
keep house update as the deal progress
  • #224
  • Oct 4, 2017 10:18am Oct 4, 2017 10:18am
Quoting hilmy83
{quote} a million?
not, but 100k or more. and yes, i would probably consider your account too
those conditions -or rather limitations- needs some account size to make it worthy the effort.
say, if you make 2-3% a month, that is 600-900$...not much, but fair enough, and if there is 3 accounts same size, better.
i am small fish, i dont mind to work with those numbers to start with. with a few similar deals it adds up, and in turn i can grow my own account from organic growth ( my own trading results) + some of the fees....to a point where no deals need to be entertained to take or not to take.
will that day come?
YES!
there is always, always another trade!!
  • #225
  • Oct 4, 2017 10:36am Oct 4, 2017 10:36am
um, a little bit on the trading day...
or should rather say a no-trading day.
2 tiny entry.
both mistake, in a way.
one EU, sliding my mouse between my monitor screens, and somehow dragging an order on the screen...first one of the kind. closed with 0.8 pip.
then just now EN, not realizing that europe just closing up, and the spread start to widen...closed for 2.2 pips.
so, there you go, net 3 pips, or +0.01%.
some day the price moves just not suit your trading style, and this was the day it havent suit my style.
few maybes, but that doesnt count.
a day to watch youtube, post on forum, even though had to remind myself to limit it, and decided on a few replies not to bother to send...
should not rain heavily the 4th day would be happy for outdoor, instead was a lazy day with some movies with family and some junk food.

PS: thanks for everyone who took his time to read and comment on the deal proposal.
i was pretty sure how i wanted to read and understand it, but wanted to show a real example how things may look at some point in trading.
can an equity curve like my TE shows land someone a like deal? yes!
does it have to be about making 100% monthly? not at all!
even though i found it not a great offer, some would probably happy to take it, we all look for different aspects.
but seeing is believing, so, i think many would find a motivational aspect in it, too.

consistent results, and low drawdown can also lead to success
there is always, always another trade!!
  • #226
  • Oct 4, 2017 11:53am Oct 4, 2017 11:53am
I agree with your last line there and wish to add that in my humble opinion success in forex comes from treating it as a business and not as a casino (even though most would bring up the word gambling when talking about forex).
My trading became profitable when I started to record every month (with mid-month update) in excel tables my results for all my accounts (i use many many sub accounts to help with money management) and use those results to tweak my guidelines (i am loathe to use the word strategy) which I first wrote down many years ago.
I still like to refer to my very first records and chuckle at what I wrote. I also keep a hard backed A4 thick note book and write down regular thoughts, changes and glue into this my monthly results. It is my trading GRIMOIRE lol
(Prior to this I went through the usual few years of over-trading, revenge trading, over analysis, bad money management and changing of strategy every other day as soon as I had a losing few trades).
So yes, success is to treat it as a business, .... even stand up in an empty room at the end of the month and pretend that you are reporting on your trading for the month to the chairman of the company ;-)
  • #227
  • Oct 4, 2017 12:14pm Oct 4, 2017 12:14pm
Quoting profitfarmer
{quote} actually i like to see what others think about this offer. i will certainly share my take on it too. {image}
Since they are seeking your services and you are not seeking them and seem to be doing fine without additional accounts to trade, I would make them pay up an initial fee at the time of contract. Something meaningful such as an upfront fee like $3-5k. Then, for the first 3 months, have them pay out 5% at the end of each month. By then, both parties will know that you both are legitimate and then you could move more to the 90 day 15% payout. To me that would benefit you more as you would get upfront money, get paid monthly for your trading services and then could move out to a quarterly payment later.
  • #228
  • Oct 4, 2017 12:33pm Oct 4, 2017 12:33pm
Quoting marinecorps
{quote} Since they are seeking your services and you are not seeking them and seem to be doing fine without additional accounts to trade, I would make them pay up an initial fee at the time of contract. Something meaningful such as an upfront fee like $3-5k. Then, for the first 3 months, have them pay out 5% at the end of each month. By then, both parties will know that you both are legitimate and then you could move more to the 90 day 15% payout. To me that would benefit you more as you would get upfront money, get paid monthly for your trading...
thank you for the comment.
unfortunate, it wont work that way. no one will give upfront fee. some account management fee exist on certain deals, but no prop trader will make sign on bonus ( maybe some star traders, idk?).
i commented on the fee structure: it is pretty silly to agree that the more you make, the less you get, and quarterly payout may work for some big funds, again where there is also assurance that you will receive it too, and management fee for bottom line, but not much for a private prop trader who needs certain monthly cashflow at this stage still.
once my own account pass a certain size, outside cashflow will be lessen issue, but guaranteed payment as scheduled will be still an issue on any deal made over the net.
there is always, always another trade!!
  • #229
  • Oct 4, 2017 12:38pm Oct 4, 2017 12:38pm
Quoting profitfarmer
{quote} thank you for the comment. unfortunate, it wont work that way. no one will give upfront fee. some account management fee exist on certain deals, but no prop trader will make sign on bonus ( maybe some star traders, idk?). i commented on the fee structure: it is pretty silly to agree that the more you make, the less you get, and quarterly payout may work for some big funds, again where there is also assurance that you will receive it too, and management fee for bottom line, but not much for a private prop trader who needs certain monthly...
Guess I am naive to how it all works, but I figure if someone is reaching out to me and requesting my services, I have the upper hand in the negotiation and can lay out the terms I want and be willing to walk away if they are not willing to meet you in the middle. To me, it's dumb to make you wait 90 days before they will show you they will honor their end of the deal. They need some skin in the game upfront to show they are serious. But again, I don't understand how it all works.
  • #230
  • Oct 4, 2017 12:44pm Oct 4, 2017 12:44pm
Quoting marinecorps
{quote} Guess I am naive to how it all works, but I figure if someone is reaching out to me and requesting my services, I have the upper hand in the negotiation and can lay out the terms I want and be willing to walk away if they are not willing to meet you in the middle. To me, it's dumb to make you wait 90 days before they will show you they will honor their end of the deal. They need some skin in the game upfront to show they are serious. But again, I don't understand how it all works.
no question that 90 day is dumb, thus i wont agree anything other than monthly.
unless it is like the FIXI program, what is a different ball game, with different goals, and steps, and and even there terms rather to improve than get worse as time pass.

the skin in the game would be the investor's money. if you read, for such terms, i surely asked more than 20k "skin"....
the verdict? waiting for answer.
the posted terms i declined. i am not that desperate.
there is always, always another trade!!
  • #231
  • Edited 1:11pm Oct 4, 2017 12:58pm | Edited 1:11pm
Quoting profitfarmer
the skin in the game would be the investor's money.
It is coming with a compromise, you're successful in your way but they try to change (*edit, missed word) that way ... that's is to say, other requirements, some of them will show the cheese and not even let you trade ...
  • #232
  • Oct 4, 2017 1:04pm Oct 4, 2017 1:04pm
Quoting aa4fx
{quote} It is coming with a compromise, you're successful in your way but they try that way ... that's is to say, other requirements, some of them will show the cheese and not even let you trade ...
you may be lost me in some point.
what i wrote about is not a supposedly prop training firm where you need to pay to "win the chance" to trade a 10-50k account...never had like that, and not looking to do so.
i believe if someone over the demo successes, able to find some more real deals. those sort of 'prop shops' prey on the hope and greed of ppl, and earning not from successful trading, but from unsuccesful trials/fails.

( as for the FIXISelect program, there is no fee to be in that)
there is always, always another trade!!
  • #233
  • Oct 4, 2017 1:15pm Oct 4, 2017 1:15pm
By the way, you mentioned the forex broker Darwinix trading competition earlier; I stumbled on that a few weeks ago but forgot about it.
Is it any good ? basically you need to transfer money into a live account with them and they use that to monitor the results ?
  • #234
  • Oct 4, 2017 1:17pm Oct 4, 2017 1:17pm
Quoting profitfarmer
{quote} you may be lost me in some point. what i wrote about is not a supposedly prop training firm where you need to pay to "win the chance" to trade a 10-50k account...never had like that, and not looking to do so. i believe if someone over the demo successes, able to find some more real deals. those sort of 'prop shops' prey on the hope and greed of ppl, and earning not from successful trading, but from unsuccesful trials/fails. ( as for the FIXISelect program, there is no fee to be in that)
I think the gps is still alright. I was saying that your style might not be fully suitable for the investors therefore you need to make compromises, adjustments to meet the requirements ...
i.e.:
fixi wants low dd
myfxbook autotrade, darwinex, zulu, signals ... all have a full bunch of requirements.
the proposal you presented was barely letting you trade ... trade low
  • #235
  • Oct 4, 2017 1:33pm Oct 4, 2017 1:33pm
Quoting aa4fx
{quote} I think the gps is still alright. I was saying that your style might not be fully suitable for the investors therefore you need to make compromises, adjustments to meet the requirements ... i.e.: fixi wants low dd myfxbook autotrade, darwinex, zulu, signals ... all have a full bunch of requirements. the proposal you presented was barely letting you trade ... trade low
ok. i see.
actually beyond some "social trading" that aimed for the small guys with big hopes, and few 100 to few 1000$ at best,
i believe everyone wants low drawdown.
the how low is low varies, usually the more the fund, the less the drawdown.
i prefer to stay within 10%, and risk can scale down or up from that, usually simple adjustment on position size.

on signals a lower return ( even with low drawdown) isnt feasible.
a common enough example:
1000$ account, 30$ signal fee...4% return for a month =10$ (1%) net profit after signal cost...not much a deal. and this include the actual execution difference.

zulutrade is about pips.
example:
you trade 1 lot....there is 10 pips move, you win 10 pips.
you trade 10x 0.1 lot ( still 1 lot)....there is 10 pips move, you win 100 pips ( 10x10 pips).

myfxbook , and signals in general, shy away from scalping. i do considerable amount of scalping, position trade only when there is suitable trades to take.

i am not sure darwinex. but will look. maybe it worth the time more than other options.

had some research on these issues, the most viable is private deals, but also the least secure when it comes to receive your compensations.
there is always, always another trade!!
  • #236
  • Oct 4, 2017 1:34pm Oct 4, 2017 1:34pm
Quoting NoStopsXXL
By the way, you mentioned the forex broker Darwinix trading competition earlier; I stumbled on that a few weeks ago but forgot about it. Is it any good ? basically you need to transfer money into a live account with them and they use that to monitor the results ?
darwinex? not me. not a user of them.
there is always, always another trade!!
  • #237
  • Oct 4, 2017 1:48pm Oct 4, 2017 1:48pm
Quoting NoStopsXXL
By the way, you mentioned the forex broker Darwinix trading competition earlier; I stumbled on that a few weeks ago but forgot about it. Is it any good ? basically you need to transfer money into a live account with them and they use that to monitor the results ?
darwinex in few words of what I've experienced:
- a broker that has an interesting competition called darwinia where prizes consists in a capital allocation to trade, you get % from gains ... and is not like pamm, you trade your money, they 'follow' you ...
- one of a kind account monitor
- investors platform

Details to be checked, I might not be accurate ...

A small statement from them: "We are not offering bonuses for your referrals, because of our principles and values, our vision goes beyond this." ... I have no interest in promoting them.
  • #238
  • Oct 4, 2017 1:53pm Oct 4, 2017 1:53pm
Cygnet Prop trading are hiring.

They are in Western Australia and the guy who runs them did an interview on 'Chat with Traders' Podcast a while back...seemed a very decent guy.

I'm not sure if they'll look at remote traders but they do seem a genuine firm and with your track record they might be worth approaching?
  • #239
  • Oct 4, 2017 2:08pm Oct 4, 2017 2:08pm
Quoting FXClarity
Cygnet Prop trading are hiring. They are in Western Australia and the guy who runs them did an interview on 'Chat with Traders' Podcast a while back...seemed a very decent guy. I'm not sure if they'll look at remote traders but they do seem a genuine firm and with your track record they might be worth approaching?
a quick search results:
from Cygnet Trading (@CygnetTrading). We are a proprietary trading firm. Our goal is to serve traders. We trade futures and equities.
there is always, always another trade!!
  • #240
  • Oct 5, 2017 1:25pm Oct 5, 2017 1:25pm
Busy day today.
some silly mistakes on the copying, causing the fixi account to miss a key trade, and then on fight to get out of a hole that wasnt there at all on the main account.

anyway, the trading.
today, surprise, but the flavor was mostly GbpJpy....and later some UsdCad. ( had a little GbpUsd and EurCad too).
will attach GJ chart, with its 9 entries it was the most active. I know, later i could hold longer, but that is all hindsight

the result: +0.68%. i am more than satisfied with it. all closed, as most of the day, ready to see what NFP Friday has for me.
GN!
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 06.10..png Size: 30 KB
there is always, always another trade!!
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