Went short and hit SL. Took reverse trade to recover. So BE over all for this one
- #15,588
- Nov 16, 2017 10:21am Nov 16, 2017 10:21am
- Joined Apr 2006 | Status: Trader | 4,301 Posts
Pity going to miss tomorrow - might try on my phone - but would of shorted USDCAD
- #15,592
- Nov 16, 2017 12:37pm Nov 16, 2017 12:37pm
Tony to answer your question, I wouldn't have known there was a disco ball of you hadn't answered me because I didn't look. It seemed like something against my traditions so I skipped over it. Same thing when I found the real song of a holiday cover I liked about dancing. After a few seconds it got too much for me so I closed it. I'm not perfect but it can let someone not judge me favorably This is just me, you guys can do what you want. Best of luck Angelica
so I skipped over it. Same thing when I found the real song of a holiday cover I liked about dancing. After a few seconds it got too much for me so I closed it. I'm not perfect but it can let someone not judge me favorably This is just me, you guys can do what you want. Best of luck Angelica - #15,593
- Nov 16, 2017 3:00pm Nov 16, 2017 3:00pm
Hello everyone! I've been using this system for about 2 months now and have been profitable (Thank you Tony)! The past 3 weeks, however, it feels like my account balance has just been stuck unable to break higher, has anyone else went through this before? Also bulltrader how do you pick which way to go, you seem to be right more often than me lol.
The distinction is that the long term winners are those that make it to a decent monthly (yearly) r:r cause we're all going to have bad runs with this method of trading (or most methods in fact). So as long as its within your trading plan then you are fine.
For example since the win rate is somewhere around 40% (assuming additional 10% of 'directional winners' become losers with whipsaw) then the chance of getting, say, 6 losers in a row is: 0.6 x 0.6 x 0.6 x 0.6 x 0.6 x 0.6 = 0.0466 or 4.7% (This is the same as 0.6^6). So mentally you know these losing strings will come along fairly regularly (just ask Tony). And this is why your r:r is critical as you will get runs of losers like this - that will be covered by a big winner.
Have a trading plan that is in part math based and understand the drawdown chances within it and you'll go a long way to bolstering your confidence to hang in there
Oh well, on to the next one!
