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  • #1
  • First Post: Edited 4:18pm Oct 14, 2017 3:32pm | Edited 4:18pm
My losses are to big and my wins are to small. If you click on the trade report tab of my trade explorer you can see that my strategy is profitable, I just need to work on cutting my losses and letting the winners run.

I'll be depositing around 300$ into my account in a week or two stay in tune for that.

I've known about trading for about a year, Give or take. 20 years old, Live at home. Minimum wage job.

This isn't going to be a dear diary thread or My life story thread.

I mainly just want to show people that you can be successful trading forex theres so much negativity and failure in the forex niche and I would like to change things up a little bit.
  • #2
  • Oct 15, 2017 4:53pm Oct 15, 2017 4:53pm
Markets open, Entering a short on eu with 0.01 lots to test the water.
  • #3
  • Oct 15, 2017 5:25pm Oct 15, 2017 5:25pm
I can see that you trade multiple pairs. It would be better to concentrate on a single currency pair and follow its movement.
When you trade multiple currency pairs you will not be on par with every one of their movements....too many to keep track of.

That is what i do . . . . .
  • #4
  • Oct 15, 2017 5:41pm Oct 15, 2017 5:41pm
Quoting anses
I can see that you trade multiple pairs. It would be better to concentrate on a single currency pair and follow its movement. When you trade multiple currency pairs you will not be on par with every one of their movements....too many to keep track of. That is what i do . . . . .
Thank you for the feedback. I do trade more then one currency pair. I agree with you, I think that if you are not organized or focused that trading multiple currency pairs can lead you to fail. I definitely know that I need to improve the way I trade / manage multiple pairs. I like the feeling were you know exactly when price is going to fluctuate or where support is. I try to diversify my investing I only feel comfortable putting so many lots on one pair. after awhile you realize that while one pair goes down another could be going up and if you take advantage of that you will damn near double your profits.

thats just my 0.02.
  • #5
  • Oct 16, 2017 3:20am Oct 16, 2017 3:20am
Looking at your trades I can see that your lot sizing is all over the place.
Why?

That one trade where you lost over a 1000 really ruined that account but even if that didn't happen you'd still be in the red.
If you have a working strategy as you say you do you should really use a steady lot size and increase it as your account grows or leave it to reduce risk.

Did you test this plan?
  • #6
  • Oct 16, 2017 1:51pm Oct 16, 2017 1:51pm
Quoting AntiVi
Looking at your trades I can see that your lot sizing is all over the place. Why? That one trade where you lost over a 1000 really ruined that account but even if that didn't happen you'd still be in the red. If you have a working strategy as you say you do you should really use a steady lot size and increase it as your account grows or leave it to reduce risk. Did you test this plan?
Mostly just testing out which lot sizes work best, I am starting to get the feel for which lot sizes I should use in the future my trade explorer should have more consistent lot sizes. This trade explorer goes all the way back to when I started trading and didn't know how to trade, You're right my account was at 1,190$ now its at 26$ excluding equity. As I said in the first place my main problem is that my losses excede my profits although I take more wins then losses I just need to take bigger profits and everything will work out I traded that account from 70$ - all the way up to 1,190$ its a bit of a set back although I should get back there pretty soon, Really looking forward to that first withdrawl.
  • #7
  • Oct 16, 2017 1:55pm Oct 16, 2017 1:55pm
Price spiked me out on Eurusd stop loss was at breakeven so I didn't take a loss. Entered a 0.04 on xauusd.
  • #8
  • Oct 16, 2017 2:28pm Oct 16, 2017 2:28pm
Quoting realclout
{quote} Mostly just testing out which lot sizes work best, I am starting to get the feel for which lot sizes I should use in the future my trade explorer should have more consistent lot sizes. This trade explorer goes all the way back to when I started trading and didn't know how to trade, You're right my account was at 1,190$ now its at 26$ excluding equity. As I said in the first place my main problem is that my losses excede my profits although I take more wins then losses I just need to take bigger profits and everything will work out I traded...
I'm going to paste something here that I posted on another thread but it should help:
The proper way to calculate your lot sizing is this:

Step 1:
-Test your strategy and figure out what the biggest drawdown was for your strategy.

Step 2:
-Decide how much of your account you're willing to risk.
-I advise to not go higher than 25%.
-I also advise not to make that number too high if you have problems with psychology.
-It is true that you will grow your account faster the higher that number is but the higher that number the more difficult it will be to come back from a drawdown as well as the more difficult it becomes psychology wise.
-Some people use 5% others 10% and some even 25%.
-This number is called maximum allowable drawdown.

Step 3:
-Calculate your lot size so your drawdown will stay within your maximum allowable drawdown.
-You can increase your lot size as your account grows or decrease your maximum allowable drawdown to risk less. You will probably want to increase your lot size over time until you make enough and then start reducing your risk as your account is growing.


Tips and tricks:
-Have a good sample size when testing your strategy so you get the biggest drawdown your strategy has had before.
-If you have multiple strategies and pairs you can put it all together and get your biggest drawdown that way. If you do this you may be able to trade at a bigger lot size if you have hedging strategies. For example a strategy that does well in consolidation and one that does well in trending markets may cancel out some of the losers making your maximum drawdown lower. If you don't have hedging strategies you may have to lower your lot sizing because of the bigger drawdown and it might not even be worth trading that second strategy in the first place.
-If you do go over you maximum allowable drawdown it's time to review your trading because you might be doing something wrong or you tested your strategy wrong.
-You can also apply money management strategies on top of this which could make you grow faster or slower depending on your money management strategy so that's something you have to test personally.
  • #9
  • Oct 16, 2017 2:32pm Oct 16, 2017 2:32pm
Quoting AntiVi
{quote} I'm going to paste something here that I posted on another thread but it should help: The proper way to calculate your lot sizing is this: Step 1: -Test your strategy and figure out what the biggest drawdown was for your strategy. Step 2: -Decide how much of your account you're willing to risk. -I advise to not go higher than 25%. -I also advise not to make that number too high if you have problems with psychology. -It is true that you will grow your account faster the higher that number is but the higher that number the more difficult it...

I appreciate that. I might be a little bit past that information unfortunately. depending how this current trade goes it'll be a good step towards recovering my account. Mostly I enter with a 0.01 and scale in from there my strategy probably wouldn't fill up a whole page if you typed it out.
  • #10
  • Oct 16, 2017 3:49pm Oct 16, 2017 3:49pm
Quoting realclout
{quote} I appreciate that. I might be a little bit past that information unfortunately. depending how this current trade goes it'll be a good step towards recovering my account. Mostly I enter with a 0.01 and scale in from there my strategy probably wouldn't fill up a whole page if you typed it out.
The thing is if you don't have that information how can you be sure this strategy really works? How can you make sure you won't blow up your account?
  • #11
  • Oct 16, 2017 11:28pm Oct 16, 2017 11:28pm
Quoting AntiVi
{quote} The thing is if you don't have that information how can you be sure this strategy really works? How can you make sure you won't blow up your account?

Who knows, Trade demo if you are worried about blowing your account.
  • #12
  • Oct 17, 2017 3:01am Oct 17, 2017 3:01am
Quoting realclout
{quote} Who knows, Trade demo if you are worried about blowing your account.
I'm not worried about mine, I'm worried about yours.
To me it looks like you don't know if you have an edge or not yet you're still putting money on the line in the hope of gaining some.
  • #13
  • Edited 6:02am Oct 17, 2017 5:46am | Edited 6:02am
Quoting AntiVi
{quote} I'm not worried about mine, I'm worried about yours. To me it looks like you don't know if you have an edge or not yet you're still putting money on the line in the hope of gaining some.
Why are you worried about another man? My dude, The only person you should be worrying about is yourself. Thats alright, It does not matter to me what you think. Honestly, You have to put money on the line to make money. I don't give a phuck if you doubled your demo account 5 times, You have to pay to play. Your mindset is honestly trash and I almost feel pity for you.

I don't have to sit here and type out to you why I disagree with you when your opinion and thoughts are irrelevant to me, I'll let my trade explorer do the rest of the talking while you try to take shots at me. i'm sorry you tried giving me some bunk ass advice and tried to get all up in my business. I really did try to be civil with you. I just don't think I can the way you are coming at me, i'm sorry.
  • #14
  • Oct 17, 2017 6:09am Oct 17, 2017 6:09am
funny thing is I looked at your trade report and it only goes 52 days back lol your data starts in august lemme change my trade report to only show the last month looooooooooooool Mr. You're just spending money hoping to find an edge. How about you set you trade report all the way back to when you opened your first trade and show us how much money you spent you probably aren't even breakeven. coming at me the wrong way you are going to get exposed. talking crazy, Your win rate is less then 30% you're lucky your profits are bigger then your losses cause you lose 70% of trades you enter lol.
  • #15
  • Oct 17, 2017 7:14am Oct 17, 2017 7:14am
Quoting realclout
{quote} Why are you worried about another man? My dude, The only person you should be worrying about is yourself. Thats alright, It does not matter to me what you think. Honestly, You have to put money on the line to make money. I don't give a phuck if you doubled your demo account 5 times, You have to pay to play. Your mindset is honestly trash and I almost feel pity for you. I don't have to sit here and type out to you why I disagree with you when your opinion and thoughts are irrelevant to me, I'll let my trade explorer do the rest of the talking...
Quoting realclout
funny thing is I looked at your trade report and it only goes 52 days back lol your data starts in august lemme change my trade report to only show the last month looooooooooooool Mr. You're just spending money hoping to find an edge. How about you set you trade report all the way back to when you opened your first trade and show us how much money you spent you probably aren't even breakeven. coming at me the wrong way you are going to get exposed. talking crazy, Your win rate is less then 30% you're lucky your profits are bigger then your losses...

You can ignore my advice if you want but if you're feeling attacked by the FACTS that I'm stating you clearly know you're doing something wrong.
I'm not attacking you in any way. I'm literally giving you advice and if you actually read the advice that I gave you it all makes sense.

I agree you have to risk some to win some but you shouldn't risk money when you don't know you have an edge.
-You clearly haven't tested your strategy or you would have mentioned you had the data for calculating your lot size.
-Your lot sizing is all over the place which makes no sense. There is no thought process behind it.
-You pretty much risked almost your entire account on 1 trade, which you lost.
-You don't know you have an edge yet you're still risking your money and praying to the Forex gods.

My mindset of properly testing and knowing I have a potential edge or not according to historical data and properly managing my account is trash?
If you call that mindset trash you're clearly in the wrong mindset yourself.

"your trade report and it only goes 52 days back lol your data starts in august lemme change my trade report to only show the last month"
If you read my journal you would see the reasoning behind where the data starts and how much I made with my previous strategy.
To save you time here is the quote from that post:
"I am now trading that strategy so I have changed the date of the trade explorer to when I started that strategy. The previous strategy had small profits."

Which means that I have never lost a penny trading live, ever. Also even if you were to only look at the last month you'd still be in the red.



On top of everything you're putting a lot of emphasis on the win percentage here however you fail to realize that win percentage doesn't matter much in Forex trading. My trades at the moment have a very favorable Risk to Reward ratio which means that even with 30% win percentage I am still profitable.
I am not "lucky" my profits are bigger than my losses. I tested this strategy and have actual data to back it up. It's not luck, it's all calculated.
The fact that you don't know this and you're taking this as a point to attack me on makes it seem like you haven't done your studying.


Look, all I have done in this thread so far is try to help you and instead of taking in the advice and seeing for yourself if it makes sense or not (Which it does) you're just treating it as an attack. Take in my advice, it will help you.

Don't treat help as an attack.
  • #16
  • Oct 17, 2017 7:30pm Oct 17, 2017 7:30pm
Quoting AntiVi
{quote} {quote} You can ignore my advice if you want but if you're feeling attacked by the FACTS that I'm stating you clearly know you're doing something wrong. I'm not attacking you in any way. I'm literally giving you advice and if you actually read the advice that I gave you it all makes sense. I agree you have to risk some to win some but you shouldn't risk money when you don't know you have an edge. -You clearly haven't tested your strategy or you would have mentioned you had the data for calculating your lot size. -Your lot sizing is all over...

You haven't helped me at all though thats the thing you can hide behind the facade of "Giving me advice" at the end of the day I never asked for you advice and you continue to give me unwanted "advice". Let's set the record straight i'm getting real tired of your "my shit does not stink" attitude on top of everything else you wanna poke holes in my boat but you are the one with only 50 days worth of data, If you never lost a penny how about you change that so we can see the true history of your trade explorer unless you're afraid of being exposed. anybody can depost 7k into an account drop a couple 0.5s and have one good month. I wanna see if you have the same consistency you say you have now further back then one month ago I wanna see if you are profitable march or even February. for somebody that talks a whole lot of shit you are pretty far from transparent in order to back up that mouth of yours. I honestly cringe when dumb phaggets like you talk about testing your strategy you just should like you are mindlessly regurgitating what some phagget "Master trader" said in some thread you read while taking a shit. what are you going to do to test your strategy is it going to be a written or oral test? You stupid mother phucker. again regurgitating "edge" there is no "edge" you phucking moron. you either correctly read price action or you cut your losses and take the opposite side of the trade, You talk about trading like it's some mystical rarley talked about jewel that nobody has ever seen before. People trade currencies for various reasons you find areas were you can profit off the swapping of currencies and you make money you braindead twat. first of all I already phucking explained this to your slow ass and you bring it up again? really? I told you, I was expirenting with lot sizes when I started out trading. my lot sizes are becoming more consistent over time since i am starting to hit my stride. Your mindset is phucking autistic "Which means that I have never lost a penny trading live, ever." so if you never lost a penny in forex trading change you trade explorer to show ever trade you have ever taken with your broker like I have and if you have truly never lost money On God I will paypal you like 50$ cause I know your bitchass is frauding hard. You honestly sound like the biggest try hard cock sucker when you say " am not "lucky" my profits are bigger than my losses. I tested this strategy and have actual data to back it up. It's not luck, it's all calculated.
The fact that you don't know this and you're taking this as a point to attack me on makes it seem like you haven't done your studying." trade explorer still only goes back 50 days (; I've spent alot of time studying there really isn't that much to learn it's mostly putting into action what you learned in a successful manner and all these calculations you are talking about theres a term for that it's called a risk to reward ratio you obviously structure your trade so that your profits are greater then your losses when you are losing 5 out of 7 trades i'd say that you are praying to the forex gods instead of really learning how to trade you just figured out a way to gamble while protecting your investment thats far from trading in my book
  • #17
  • Oct 17, 2017 7:34pm Oct 17, 2017 7:34pm
Quoting AntiVi
{quote} I'm not worried about mine, I'm worried about yours. To me it looks like you don't know if you have an edge or not yet you're still putting money on the line in the hope of gaining some.
Maybe, if you acted like you genuinely wanted to help people instead of acting like you are blessing people with hard to find knowledge everything you told me I have already read and I have decided agains't acting like a phagget just because I trade but to each and their own if trading makes you feel all special and important then go ahead and ride around on your high horse just keep that chitty energy away from me.
  • #18
  • Oct 17, 2017 7:57pm Oct 17, 2017 7:57pm
heres your biggest mistake and you don't even know it " I've spent alot of time studying there really isn't that much to learn "
  • #19
  • Edited 8:54am Oct 18, 2017 3:41am | Edited 8:54am
Quoting realclout
{quote} You haven't helped me at all though thats the thing you can hide behind the facade of "Giving me advice" at the end of the day I never asked for you advice and you continue to give me unwanted "advice". Let's set the record straight i'm getting real tired of your "my shit does not stink" attitude on top of everything else you wanna poke holes in my boat but you are the one with only 50 days worth of data, If you never lost a penny how about you change that so we can see the true history of your trade explorer unless you're afraid of being...
Alright. Let me go at your points one by one here.
You say I haven't helped you at all but that's not my fault, it's your fault for not taking my advice and that's ok if you want to continue on the same path you've been going which doesn't look all too great considering that history.

I would also like to mention that I did go to the bathroom not to long ago and I would like to confirm that and I quote "my shit don't stink". On the topic of me poking holes in your boat I would never do such a thing, that's against the law.
However if your boat is so fragile is it really my fault?

You seem to be putting a lot of emphasis on the 50 days thing since that's the only thing you can really find so lets clear things up a little bit. In the previous post I said this:
"I am now trading that strategy so I have changed the date of the trade explorer to when I started that strategy. The previous strategy had small profits."

That quote shows the reasoning behind the 50 days yet you're still using it as a valid point here which does not make sense.
Also here is a screenshot of the explorer with all the data, remember what they say right? 95% of traders lose money in their first year of trading.
I'm not one of those traders.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 59 KB


As you can see my previous strategy made small profits and you can also see that I never lost a penny trading Forex.
Of course it's not the same consistency, it's a different strategy.

Now onto your next point!
"you either correctly read price action or you cut your losses and take the opposite side of the trade"
In the end of the day there is no right or wrong, some people can say the market will go up with data that they have to back it up and others can say it will go down with data that they have to back it up.
They can both have valid points and in the end of the day you never know where it's going to go. We can't predict the future.

"I've spent alot of time studying there really isn't that much to learn"
Well clearly you didn't learn much but there is so much out there to learn. So you're kinda wrong about that.

"all these calculations you are talking about theres a term for that it's called a risk to reward ratio"
You're wrong about this as well. Lets say you have a strategy that wins 50% of the time with a 1risk to 0.5reward, changing your RR to a 1:2 from that won't necessarily make you profitable in fact the results could be worse than when you have the lower reward.
The calculations that I do are all so I don't overexpose myself or blow up my account all while getting the maximum out of my strategy while still being comfortable trading it. It's not just "risk and reward ratio" there is a lot that gets calculated on my end.

You're also talking about that win percentage again but as we all know and as you should know, win percentage means nothing.

You're also talking about experimenting with lot sizes. You know you could have done that in a demo account or in fact in your calculations and not have lost a penny but instead you pretty much almost blew up your account.


Is that about it? I think so.

EDIT:
I forgot about the fraud thing so here it is:

Fraud has 2 definitions:
-wrongful or criminal deception intended to result in financial or personal gain.
I clearly have not done that one since I don't gain anything from trying to help you.

-a person or thing intended to deceive others, typically by unjustifiably claiming or being credited with accomplishments or qualities.
I never claimed anything I did anything I didn't do so I didn't do that either.



Quoting realclout
{quote} Maybe, if you acted like you genuinely wanted to help people instead of acting like you are blessing people with hard to find knowledge everything you told me I have already read and I have decided agains't acting like a phagget just because I trade but to each and their own if trading makes you feel all special and important then go ahead and ride around on your high horse just keep that chitty energy away from me.
If it's not hard to find and you already know it then why not do it? Is testing a strategy to see if you have an edge or not a bad thing? Is properly calculating your lot sizing a bad thing? Is properly managing your account so you don't blow up your account (a little late i know) a bad thing?
I don't think so.


Quoting Divergence
heres your biggest mistake and you don't even know it " I've spent alot of time studying there really isn't that much to learn "
I totally agree, there are so many traders out there that all trade the market differently, manage their money differently, so many strategies, indicators, institutional traders etc etc.
You never really run out of things to learn if you actually want to learn.
  • #20
  • Oct 18, 2017 2:06pm Oct 18, 2017 2:06pm
Quoting Divergence
heres your biggest mistake and you don't even know it " I've spent alot of time studying there really isn't that much to learn "

Right! that must be it! I hate dumb phaggets who act like trading is so deep and mysterious shut the phuck up and go watch some conspiracy theories or something with your dumb ass. Charts represent data the data is cost of currencies you look for opporunitues to make money and take advantage of them this is free wisdom I could charge 300$ a course for this shit some people are to stupid and will never get it no matter how simplistic you put things.
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