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The REAL Traders Video Journal, 3-5% per month as a US trader

  • #761
  • Nov 28, 2017 5:35am Nov 28, 2017 5:35am
Quoting profitfarmer
{quote} that is likely excludes Oanda's up to 60 pips "normal practice" spread widening on news.
This is exactly what I am talking about- that's the reason I stopped trading for last 3 months. Finally, when I found a strategy that was profitable for me, and after I tested it on over 500 trades, broker was killing me with those spreads in every god damn trade....
  • #762
  • Edited 4:57am Nov 29, 2017 4:47am | Edited 4:57am
Is there a back-up plan in your grid trading?
Ah, you just jumped for 10 lots making a 77$/pip ... interesting where it will stop, ... on the red or on the black.

*addon
ah, you bought??! that spinning don't last much.
  • #763
  • Nov 29, 2017 5:38am Nov 29, 2017 5:38am
Quoting aa4fx
Is there a back-up plan in your grid trading? Ah, you just jumped for 10 lots making a 77$/pip ... interesting where it will stop, ... on the red or on the black. *addon ah, you bought??! that spinning don't last much.
there was mention in the videos about the occasional larger discretionary lots ( that taken on personal account).
there is always, always another trade!!
  • #764
  • Nov 29, 2017 6:24am Nov 29, 2017 6:24am
Quoting profitfarmer
{quote} there was mention in the videos about the occasional larger discretionary lots ( that taken on personal account).
Recently I started to give more attention to the thread/TE and trying to understand the strategy. I didn't offered my full attention to the videos, the plan to do still stand, now even more.

Initially I thought it is a grid, ... grid at a side is safer. While I was writing my post I saw the large trade but I thought it is still a sell as a holiday ticket exit ... after I noticed there was a buy ... which didn't made sense to me initially ... I could have expected a trade to lower the exposure in the attempt to exit from the same direction. The other logic I could see from the large trade was as an attempt to lower the existing exposure ... a sort of a trades matching - the close the big trade with some gain and some loosing trades too. But this scenario didn't happen either even if the big trade had some moments of profitability.

Now I look forward to see the next video.
  • #765
  • Nov 29, 2017 7:22am Nov 29, 2017 7:22am
Quoting aa4fx
{quote} Recently I started to give more attention to the thread/TE and trying to understand the strategy. I didn't offered my full attention to the videos, the plan to do still stand, now even more. Initially I thought it is a grid, ... grid at a side is safer. While I was writing my post I saw the large trade but I thought it is still a sell as a holiday ticket exit ... after I noticed there was a buy ... which didn't made sense to me initially ... I could have expected a trade to lower the exposure in the attempt to exit from the same direction....
i didnt think about the reason, just remembered in the video ryan said he will keep making some manual non-EA trades.
to be honest, at that point, that trade made no sense to me, but we all trade our ways.
there is always, always another trade!!
  • #766
  • Dec 4, 2017 11:30am Dec 4, 2017 11:30am
New Update!

This is not a good update guys. I lost big because of all sorts of manual trading issues. I broke my rules on all fronts and this shouldn't be happening after so many years of trading.

Why I lost?

  1. I was greedy
  2. I was lazy
  3. I was bored
  4. I was irrational
  5. I was stupid
  6. I was wrong
  7. I was arrogant

How do I stop this from happening again? Likely never manual trading again as every time I do so, I get carried away and have unnecessary losses. So many noob mistakes were made here. This is what my video blog is all about right? Sharing the good and bad? This video today shows you what NOT to do!

Inserted Video
  • #767
  • Dec 4, 2017 11:47am Dec 4, 2017 11:47am
I dont want to be pain in tha ass even though I can sound like one.
What I see thru your journal and throu out most of the journals in FF and my self ocourse is that we all need good psychiatrist.
I mean that is not strange in all elit sports it is not strange att all and it is factor that counts in in a budget.
Only here we all are discussing mental problems but when we are on plus side of Forex market we dont make budget for that.
I Think that it would be higly interesting question how many tradares here in FF would have end up with plus pips after one sesion a week or two. I bett half of the FF traders.

All the best to you and green pips
  • #768
  • Dec 4, 2017 12:20pm Dec 4, 2017 12:20pm
i do pretty much the same thing as you as far as following the momentum. sometimes you get drag both sides.
BUT, one thing you need to develop as far as mindset is concerned is to learn to let the winners ride. It's hard, but i can confidently say that if i were you, I would've let that long on the bullish bar to ride till end of day/session or whenever i get net positive pnl. if that reversed on me, well guess what i would be short again..

but as soon as you got that nice entry and price doesn't retrace as much..LET THAT WINNER RIDE!
  • #769
  • Dec 4, 2017 1:24pm Dec 4, 2017 1:24pm
Thanks for the openness and honesty concerning your account

all I can say for sure is your still a winner -- because you have a good women !! - wife - and you better know that.........

do not invest in any crypto currency long term --- you should never invest long term with any asset that has no tangible worth. OK to trade it but do not invest long term........ heres an example of a tangible asset -- gold and silver--

regards
Live today like theres no tomorrow-- Prioritize like you will die today
  • #770
  • Dec 4, 2017 2:10pm Dec 4, 2017 2:10pm
Quoting iamsovereign
do not invest in any crypto currency long term
Crypto could be a good lottery ticket, thinking to go for it ... low budget, never know ... in the end risking let's say 1k for 1k% ... maybe will work out.

I think it will be very hard to trade 1k now instead of 20k, making % and not real $ ... I think it will be harder as time goes by.
Looking forward to see how will evolve, I wish you good luck in following your plan, be it 10%/month or 100%/day.
  • #771
  • Dec 5, 2017 12:24am Dec 5, 2017 12:24am
Quoting Cubbybgood
New Update! This is not a good update guys. I lost big because of all sorts of manual trading issues. I broke my rules on all fronts and this shouldn't be happening after so many years of trading. Why I lost? I was greedy I was lazy I was bored I was irrational I was stupid I was wrong I was arrogant How do I stop this from happening again? Likely never manual trading again as every time I do so, I get carried away and have unnecessary losses. So many noob mistakes were made here. This is what my video blog is all about right? Sharing the good and...
a real life, honest take on trading, and a reflection on what can and had go wrong.
i would like to wish you good luck for the next chapter with this:
you can only trade as long as you have meaningful equity left...next time do better job protecting it. you talked about equity stop, hope you will work your emotional side to let you implement it too.
there is always, always another trade!!
  • #772
  • Dec 5, 2017 8:35am Dec 5, 2017 8:35am
New Update!

The Big Turning point!
I finally was able to figure out a HUGE issue with my backtesting and EA trading after 6 months. Moving forward after my big loss should be much smoother than I originally thought!

Inserted Video
  • #773
  • Dec 5, 2017 1:27pm Dec 5, 2017 1:27pm
Quoting Cubbybgood
New Update! The Big Turning point! I finally was able to figure out a HUGE issue with my backtesting and EA trading after 6 months. Moving forward after my big loss should be much smoother than I originally thought! https://www.youtube.com/watch?v=uW8S...ature=youtu.be

Congrats on this!
So at this point, what makes the curve smoother and keeps drawdown less than 10%?
I've been trying to find some sort of solution for the past several months.

This was the sole reason i lost faith even after creating an EA.
  • #774
  • Edited 2:11pm Dec 5, 2017 1:47pm | Edited 2:11pm
Quoting faatkumo
{quote} Congrats on this! So at this point, what makes the curve smoother and keeps drawdown less than 10%? I've been trying to find some sort of solution for the past several months. This was the sole reason i lost faith even after creating an EA.
I lost faith as well because I couldn't figure out what was going on with my backtesting. It was sooo frustrating over the past 6 months. I blame my current manual losses on the loss of faith in my EA. The loss of faith was for NO reason. It's all just so stupid....

My newer EA versions were entering trades in the wrong places. It was a bug and random making it hard to catch. I missed the problem for 6 months. I thought it had to do with bad tester data or something else.

The entry criteria remains the same. Inside candle after a confirmation from the RMI. Yes, my EA is in perfect working shape with very little personal money to trade. What a bummer. I'll gradually add to my small account over time though. I suspect I'll be back to where I was in 12 months or so.
  • #775
  • Dec 5, 2017 7:47pm Dec 5, 2017 7:47pm
Quoting Cubbybgood
{quote} I lost faith as well because I couldn't figure out what was going on with my backtesting. It was sooo frustrating over the past 6 months. I blame my current manual losses on the loss of faith in my EA. The loss of faith was for NO reason. It's all just so stupid.... My newer EA versions were entering trades in the wrong places. It was a bug and random making it hard to catch. I missed the problem for 6 months. I thought it had to do with bad tester data or something else. The entry criteria remains the same. Inside candle after a confirmation...
i am sorry, Ryan, and no intention to be rude, or cruel...

but that doesnt sound entirely true.
loss of faith may be the reason to some action,
but the reason behind the losses are your urge to gamble! and gamble big!!
you can watch back your video if you wish, and i happened to see this on the TE too, "live"
...
"hedging" approx 2 lot open interest with a 10 lot manual trade?
going all in with a single 20 lot entry?
throwing final hope and remaining account balance in with a final 15 lot?
the chart shows that some profit could be booked, but it was possible to book some profits here and there, but the trades were really opened in a recover all in a swipe fashion.
not to mention that you use grid! so, why not make a 'mini grid' of 2 or 5 lots each out of that 20 lot?
it is way higher probability, way lower risk on lose all on only a few misjudged pips!

anyway, we all make mistakes, hey, i am just happen to be in a drawdown too, right now.
i could gamble all, and it would have saved me, holding beyond my cut all point. and it could blow not 10%, but 100% of the account too.
without equity there is no trading!!!! live to trade another day!
( not to mention the differenent recovery chances).

so, this isnt a post to be rude, cruel, or kick into you.
most, if not all of us had blown up accounts. happens.
but blowing up 1-2k, or 20k isnt the same, once the value of that money hits home...and again, referring to your videos, your cat troubles clearly show this was not toy money to gamble away.
the only good thing to come out from this loss to know that your wife is an angel, and love you deeply to still support your trading!

PS: i believe your EA can be improved.
i also believe that manual discretionary trades you could and should use, why not, but without the all-in gambler aspect. if your trading is EA, manual should be some side gimmick, with sizes reflect that.

PPS: was thinking to send this in PM, but i think it is more benefit in posted here.
the video was kept to a honest ways, and i think it deserves some honest thoughts like the ones expressed above.
some will agree, some wont...and all is well.
it is my honest take on what has happened, and was happening for a while.
Attached Image (click to enlarge)
Click to Enlarge Name: DD recovery.png Size: 77 KB
there is always, always another trade!!
  • #776
  • Dec 5, 2017 8:03pm Dec 5, 2017 8:03pm
Quoting profitfarmer
{quote} i am sorry, Ryan, and no intention to be rude, or cruel... but that doesnt sound entirely true. loss of faith may be the reason to some action, but the reason behind the losses are your urge to gamble! and gamble big!! you can watch back your video if you wish, and i happened to see this on the TE too, "live" ... "hedging" approx 2 lot open interest with a 10 lot manual trade? going all in with a single 20 lot entry? throwing final hope and remaining account balance in with a final 15 lot? the chart shows that some profit could be booked,...

Good message here!

I do believe your right about the gambling but I think it may go deeper than this. Honestly, I'm still trying to figure out why I did what I did. I definitely need some time to ponder all of this.

Doing all this publicly is not an easy thing but I am reading the comments and listening.
  • #777
  • Edited 3:20am Dec 6, 2017 1:04am | Edited 3:20am
Hello Ryan,

Posting here since I much appreciate your honesty.

From my own experience, I've met in person a PRO trader doing etremely good for more than 10 years (with no single drawdown). His story was a little different but a similar in one major sense. So, his DD was caused due to a merely breaking his consistent rules (just once) and thus costed him 3+ months to recover the losses.

I'm neither PRO nor any consistently profitable, just a hobby live trader for 9 years with FX. That's why no any advice but my understanding if I may.

The core matter could be in a human nature. Tackling with that: by implementing and keeping an independent (from your own behaviour) rules following means. That must be an effective your actions supervising instrument (where you cannot intervene). You think you must do something but you're restricted by the "stupid" supervisor. FX industry has to take money from human beings (even those who use robots are still human beings). And we all know that none is guaranteed from getting insane once.

And a complicated thing (in my view) would be how to realize that supervisor remaining a discretionary, manual trader.

Good luck and best regards, Exnav
Not to Advance is to Fall Back
  • #778
  • Dec 6, 2017 1:12am Dec 6, 2017 1:12am
Thank you for your videos Ryan, they are much appreciated. What you have shared and continue to share has changed my trading around.

You know the formula to be profitable in FX, so I have no doubt you will make it all back.

Cheers
Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #779
  • Dec 6, 2017 2:05am Dec 6, 2017 2:05am
Quoting Exnav
Hello Ryan, Posting here since I much appreciate your honesty. From my own experience, I've met in person a PRO trader doing etremely good for more than 10 years (with no single drawdown). His story was a little different but a similar in one major sense. So, his DD was caused due to a merely breaking his consistent rules (just once) and thus costed him 3+ months to recover the losses. I'm neither PRO nor any consistently profitable, just a hobby live trader for 9 years with FX. That's why no any advice but my understanding if I my. The core matter...
"So, his DD was caused due to a merely breaking his consistent rules (just once) and thus costed him 3+ months to recover the losses...."

where the major difference lies.
drawdown/losses natural.
but i am sure your trader person controlled and cut his loss way sooner than -95%...rebounding from this loss will take lot more to forever without adding cash to the account.
the catch is: adding to an account before being satisfied the trouble issue is fixed, risking the same event to occur again and again.

to be Ryan specific: was talk about stop trading at certain DD% on EA. if it was implemented, it should and will have to implemented as a blanket over all trading, then positions sized or traded in a manner to fit onto that limitation...ie. a 0.4 lot grid may be only 0.15 lot grid, a discretionary manual trade of 10 lot maybe only 0.8 lot, etc....
and in turn the 20-40% monthly target gain, maybe back toward the original 3-5%...that still is a respectable second income on a 20k account, that beat the banks, beat the stocks indexes...and what the hack, use some of that to buy crypto if that what his heart desire in the end of the month.
there is always, always another trade!!
  • #780
  • Dec 6, 2017 3:11am Dec 6, 2017 3:11am
Quoting profitfarmer
{quote} "So, his DD was caused due to a merely breaking his consistent rules (just once) and thus costed him 3+ months to recover the losses...." where the major difference lies. drawdown/losses natural. but i am sure your trader person controlled and cut his loss way sooner than -95%.
Hello Profitfarmer,

You are right. At a point, not too disastrously late, the trader recognized the reality. However, why the situation might have got the complication?
If you are 10+ years "invincible" in your consistency, there still might be market changes you could not mentally adapt or your mind could be negatively affected by something.
In that particular case, the trader exploited a "friendly" insider data. He had trusted the source but information provided turned wrong (friendship versus business, market knowledge, etc.). Whatever the reasons for the market or friendly behaviour were, one of the rules broken was: trust no one.

Example: you make your daily, monthly, annual profit; you are confident since 10+ years with no DD; you have got plenty of safety cushion on deposit; you will manage whatever risk may occur; then the "friendly" data convince you to trust: e.g., Cable is dropping down 1.2900, it will for sure (insider data) stop there and fly to ....1.3600 (whatever); don't square at 1.2800 (why to accept DD), it will go up in an hour (insider data)... etc. A trend should have turned as "preplanned" but did not. That instance is a "generally known" sort.

"How can I accept DD, it's incredible, I've always been invincible. I will get by (and it will turn in my favour, my friend has always been reliable)".

It's difficult or impossible to judge if you have not been in the same shoes. Many things could unexpectedly happen for the first time in our life.

Best regards, Exnav
Not to Advance is to Fall Back
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