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(binned per thread starter’s request) Finally Making money?

  • #1
  • First Post: Nov 20, 2017 4:42am Nov 20, 2017 4:42am
7 years in this forex and commodities messy journey, considering that I took some long breaks.

I went from nearly gambling to long term profitability.

lost $5-7k overall for ONE reason: I thought that gambling was bad and I was seeking for long term profitability.

I have been testing a lot of stuff during this year and a half and guess what, I discovered that long term profitability and gambling can get along very well.. IF

1 I have a good withdrawal plan

2 I'm able to maximize returns over the shortest period of time.


I found that if I make at least 10% daily, or -100% weekly I feel satisfied, when it takes too long I feel I'm wasting time and I mess up with the plan.


let's see if I can get it right
  • #2
  • Nov 20, 2017 4:49am Nov 20, 2017 4:49am
Wish you luck buddy!
NaviHH
NaviManual All Time Return: 202.0%
  • #3
  • Nov 21, 2017 3:21am Nov 21, 2017 3:21am
I've just put in what might be called a withdrawal rule - "When unrealised gain reaches +25%, close all positions."

Is this what you mean by withdrawal?
  • #4
  • Nov 21, 2017 6:27am Nov 21, 2017 6:27am
Quoting tomorton
I've just put in what might be called a withdrawal rule - "When unrealised gain reaches +25%, close all positions." Is this what you mean by withdrawal?
yes I basket close all positions at fixed gain. my way of trading is simple and mechanical, without the slightest discretionary intervention.

However what I meant is that I don't let it run forever hoping to make a million

I saw a guy turning $300 into $40k or something like that, to then lose it all... what the......?
  • #5
  • Nov 21, 2017 1:36pm Nov 21, 2017 1:36pm
So, I'm going trade only one account and show the progress since the beginning, as those who show their stats AFTER they made money are not worth any consideration.

let's show everything, otherwise where's the fun ?

my account will be funded soon , in the meantime you can admire the MESS I created on it lol

here's the account (http://fxblue.com/users/whatt)

pray for me
  • #6
  • Nov 23, 2017 12:22am Nov 23, 2017 12:22am
Just to clarify, I don't trade all pairs simultaneously like in the classic basket trading. that will not work in the long term as far as I know.

the challenge is to beat the transaction costs, at least statistically.

Attached Image (click to enlarge)
Click to Enlarge Name: TesterGraphh.jpg Size: 1.2 MB


If I see a curve like this over a 18 years period with 3 pips of spread, then I'm happy and I proceed with the forwardtest.
  • #7
  • Nov 24, 2017 10:53am Nov 24, 2017 10:53am
One thing I learned is to backtest everything that comes to mind BEFORE going live. if I find something better while I'm trading, I have to destroy that account and make a new deposit.

Yesterday I was about to make my deposit but I said to myself "wait a bit more". in fact I was right, I already found a new strategy that works better.
  • #8
  • Nov 26, 2017 2:44pm Nov 26, 2017 2:44pm
Readyfor the mess.. ehm I mean ready to make money.

Jokes apart, I'm very serious about this, even though I have no clear definition of "trading".

a hobby ? a game ? a mediation tool ? a business ?


I love it more than anything else, in fact almost all I do in my spare time is analyzing historical data lol

Live trading is not so fun. the important is to treat it with diligence, know your "weaknesses" (which can be strengths) and act accordingly.


This is my final and I mean the FINAL plan. I'm not going to change it for the rest of my life, I swear MOM. so I guess the fun is over.
  • #9
  • Nov 26, 2017 3:17pm Nov 26, 2017 3:17pm
good luck mate

but why do the stats show this ?

Returns
Total return:-100.00%
Banked return:-100.00%
Per day:-8.10%
Per week:-34.45%
Per month:-83.04%
  • #10
  • Nov 26, 2017 4:31pm Nov 26, 2017 4:31pm
Quoting MXT
good luck mate but why do the stats show this ? Returns Total return:-100.00% Banked return:-100.00% Per day:-8.10% Per week:-34.45% Per month:-83.04%
because up to now I have been testing and losing. as simple as that.

thanks, I'll need a good dose of luck indeed.

Notice that nobody talks about luck, but as they win out of pure luck they are so happy... strange contradictions in the human mind.
  • #11
  • Nov 28, 2017 4:42am Nov 28, 2017 4:42am
What an UGLY start, three must be something very, very wrong with me, as I already ended up averaging down losers and trading counter trend / ignoring breakouts.

I still had a bit of intellingence to stop and reverse the losers, but I got lucky, because the lotsize was way too big. now i'm hoping to recover the damage and start all over with a NEW plan (sorry mom but I can't help it).
  • #12
  • Nov 28, 2017 8:13am Nov 28, 2017 8:13am
Quoting HeyYou
What an UGLY start, three must be something very, very wrong with me, as I already ended up averaging down losers and trading counter trend / ignoring breakouts. I still had a bit of intellingence to stop and reverse the losers, but I got lucky, because the lotsize was way too big. now i'm hoping to recover the damage and start all over with a NEW plan (sorry mom but I can't help it).

I was thinking "what Copernicus would do ?"

he would accept the loss instead of risking to blow the account just to get breakeven.

I'll never succeed if I trade like an idiot.

Closed in loss and will start again in a few days when I'm 1000% sure of what I'm doing
  • #13
  • Nov 28, 2017 8:55am Nov 28, 2017 8:55am
Quoting HeyYou
What an UGLY start, three must be something very, very wrong with me, as I already ended up averaging down losers and trading counter trend / ignoring breakouts. I still had a bit of intellingence to stop and reverse the losers, but I got lucky, because the lotsize was way too big. now i'm hoping to recover the damage and start all over with a NEW plan (sorry mom but I can't help it).

You must have a plan and you must stick to it.

The plan might give you say 5 reasons to be long on this or that pair. So you go long. But if 1 or 2 of those reasons are cancelled by new price action, are you going to stay in or are you going to get out? Decide before you trade.
  • #14
  • Nov 28, 2017 10:57am Nov 28, 2017 10:57am
Quoting tomorton
{quote} You must have a plan and you must stick to it. The plan might give you say 5 reasons to be long on this or that pair. So you go long. But if 1 or 2 of those reasons are cancelled by new price action, are you going to stay in or are you going to get out? Decide before you trade.

well friend, as I was down by 40% I felt nostalgic about my previous strategy: my older strategy said "go short" on GU and I was long, so I tought "why not closing (in loss) the long and opening a huge short position, so that I'm in line with the new (old) strategy while I recover the loss ?"

Idk if it's clear.

THen I closed the short with little gain, and of course I was wrong since GU spiked down 50 pips few seconds later

but the ipmortant is that I got rid of the LOSER MENTALITY that makes you risk the whole account to get breakeven.

I trade high risk btw, and I mean HIGH RISK: closing in loss is not an option.
  • #15
  • Nov 28, 2017 11:28am Nov 28, 2017 11:28am
Quoting HeyYou
{quote} well friend, as I was down by 40% I felt nostalgic about my previous strategy: my older strategy said "go short" on GU and I was long, so I tought "why not closing (in loss) the long and opening a huge short position, so that I'm in line with the new (old) strategy while I recover the loss ?" Idk if it's clear. THen I closed the short with little gain, and of course I was wrong since GU spiked down 50 pips few seconds later but the ipmortant is that I got rid of the LOSER MENTALITY that makes you risk the whole account to...
You trade high risk but you never lose?
Doesn't than mean zero risk?

Aren't you kidding yourself?
  • #16
  • Nov 28, 2017 12:07pm Nov 28, 2017 12:07pm
Quoting tomorton
{quote} You trade high risk but you never lose? Doesn't than mean zero risk? Aren't you kidding yourself?
what kind of question is this ?

of course I lose, but I don't CLOSE in loss. unless I hit mc (mc is my SL).

well I'm going to ignore you, you seem very retarded.
  • #17
  • Edited 12:45pm Nov 28, 2017 12:25pm | Edited 12:45pm
There are actually many retards on FF who can't even understand the meaning of high risk.

risk = you can lose
high = you can lose fast
  • #18
  • Nov 28, 2017 1:06pm Nov 28, 2017 1:06pm
You shouldnt insult.
NaviHH
NaviManual All Time Return: 202.0%
  • #19
  • Nov 28, 2017 1:24pm Nov 28, 2017 1:24pm
Quoting NaviHH
You shouldnt insult.
Maybe, but I get pissed off from time to time.

I have been talking about high risk and luck since post 1, my account is $100 for a reason.
  • #20
  • Nov 28, 2017 1:46pm Nov 28, 2017 1:46pm
Why you dont close in loss?
Why dont you set a rule, where if you have a position in which you are losing 10% of your capital, close it.
Dont take it as Im showing you how to do it, its just a very friendly "perspective".
If i have some mistake tell me im new in forex.
NaviHH
NaviManual All Time Return: 202.0%
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