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1% to 3% Per Day? All things are Possible

  • #21
  • Feb 9, 2018 1:28pm Feb 9, 2018 1:28pm
I tell u something, anyone, trader, who is discussing about gain but not d risk [draw down] is a joke, nothing more
WaBaS Where are Buyers and Sellers
  • #22
  • Feb 9, 2018 1:29pm Feb 9, 2018 1:29pm
Quoting abokwaik
With regard to the Risk part, I wouldn't recommend trading the same system on related pairs, unless you spread the system predefined risk on those pairs.
Thanks K.A. for your extending your time here, could you please expound in more details since you did not use the quote reply function.

Which system are you referring to and when you say predefined risk is that as it relates to basket trading whereby the basket as a whole has a risk value or each trades has its own risk value. Just be more detailed it seemed as though you are flowing from a soecific point in discussions above but I don't know which one.
R:R "Percentage Focus"
  • #23
  • Feb 9, 2018 1:34pm Feb 9, 2018 1:34pm
Quoting jmn5611
{quote} Those excel spreadsheets are intoxicating aren't they? I would not put target on what you can make. I would take whatever the market gives you and after you take your profit, then you can calculate what rate of return would have been.
I will consider this...so should we make profits run and when they get stopped above breakeven we call it a day on that pair? There is a system that says trade once: whether the asset made a profit or not it does t take another trade on that asset, if there is a valid entry on another and there is the allowance to trade it takes the entry.
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  • #24
  • Feb 9, 2018 1:54pm Feb 9, 2018 1:54pm
Quoting mr.brown
I tell u something, anyone, trader, who is discussing about gain but not d risk [draw down] is a joke, nothing more
That is a truthful comment, very true. This is a very important aspect the risk versus reward, do you have any recommendations, anything that can help us? It would be greatly appreciated.

There has been some opinions given about "risk" in a general sense of the word by those who have given their precious time in giving their response to the question. I hope you will take the time to read them. Each trader has different ways of applying risk but if your way works for you and your willing to share that would be great.
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  • #25
  • Feb 9, 2018 1:58pm Feb 9, 2018 1:58pm
Quoting PrinceJ58
{quote} That is a truthful comment, very true. This is a very important aspect the risk versus reward, do you have any recommendations, anything that can help us? It would be greatly appreciated. There has been some opinions given about "risk" in a general sense of the word by those who have given their precious time in giving their response to the question. I hope you will take the time to read them. Each trader has different ways of applying risk but if your way works for you and your willing to share that would be great.
work to create a system w possible minimum draw down %. than multiply output for gain
work on risk not gain
WaBaS Where are Buyers and Sellers
  • #26
  • Feb 9, 2018 2:50pm Feb 9, 2018 2:50pm
Quoting PrinceJ58
{quote} Thanks K.A. for your extending your time here, could you please expound in more details since you did not use the quote reply function. Which system are you referring to and when you say predefined risk is that as it relates to basket trading whereby the basket as a whole has a risk value or each trades has its own risk value. Just be more detailed it seemed as though you are flowing from a soecific point in discussions above but I don't know which one.
Good luck with the new thread my friend.
I should've referred to the below posts, but was lazy to quote them .


This
Quoting PrinceJ58
{quote} Take for e.g. Price-action and candle pattern signal- I choose Pinbar: Shooting star, falling star, hammer anyone you want to call it. Every time-frame from m1 to Monthly gives out 100's of signals simultaneously throughout the day on each asset as a whole.
and this

Quoting PrinceJ58
{quote} I also liked basket trading the currencies that were trending. So if i got a setup on Gold i would trade the dollar through usdjpy and the relating currencies but news would affect the basket a different times.
Risk constraint should be applied to the system not the trade.
If a trader uses the famous 2% risk per trade, and trades the same system on the 7 majors simultaneously, he is risking 14% not 2%.
No guts, no glory
  • #27
  • Feb 9, 2018 3:18pm Feb 9, 2018 3:18pm
For e.g. today I was testing 2 different currency strength systems on the same account and I realized that one took more trades than the other and after profiting jumps back into the same asset shortly after if conditions are still favourable which also means they could probably have run for much more.

They also had similar losses based on the changing market conditions at the time, the settings they have currently recouped their losses.
For future i think the winnings should be more in terms of value and duration compared to the losses but I was just running all filters on default.

One has frequent entries on the assets collecting about 10 pips each time with atr 14 filter H1 timeframe for stoploss. While the other does 10% of the atr take profit and 40% of the atr for stoploss. I questioned the latter ratio but still tested it anyway.

I must say they both have legs for running as the concept is also famous here in the community. Achieving the near perfect setting is the trouble. Some may have found some good settings but is it shared?
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  • #28
  • Feb 9, 2018 3:51pm Feb 9, 2018 3:51pm
I would say.
First consider the risk, say 1 percent per trade.
Next would about if the trader worries about his/her understanding of the market traded.
Then followed by the execution of that understanding. So you already know the risk. You're supposed to have an expectation of what could happen next. Then carry out the trade based on the expectation.
Fourth comes any thought about profit. The profit comes because of the concern for risk and the hope of an understanding of what THEY are doing. Notice all the important stuff comes before the profit.
I'm certain the profit will not appear regularly if the other three things don't happen. I am also reasonably certain that if the first three thing happen the trade stands a chance.
So 1-3 percent is doable, but to me the first three things are absolutely necessary first. ( and if you know what the hell you're doing and account size isn't to big you can do it on one pair.)
  • #29
  • Feb 9, 2018 4:02pm Feb 9, 2018 4:02pm
Quoting abokwaik
{quote} Good luck with the new thread my friend. I should've referred to the below posts, but was lazy to quote them . This {quote} and this {quote} Risk constraint should be applied to the system not the trade. If a trader uses the famous 2% risk per trade, and trades the same system on the 7 majors simultaneously, he is risking 14% not 2%.
That makes a lot of sense trust me. Thanks for updating the comment it makes a lot of sense. So with this we just have to aim at filtering the proper direction through the system.

Your last system I found great interest in it that I ended up using some of the concept as a benchmark for a trend based systems incorporate which I think with more input could work great wonders as it did for you in the simple ways you applied it. I don't know about the sixth sense coding but the rest of it has greatness hidden. Good stuff.
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  • #30
  • Feb 9, 2018 4:55pm Feb 9, 2018 4:55pm
Quoting magentfx
{quote} Hi prince If you wan to be successful in this game.Forget everything you have learnt from FF and start new.See only the bulls and bear fighting.only this can help you in the long run atleast 10 years.You need these many years to be consistently successful. Do not follow any system or indicator. And about 1-3% its possible when your account is small.When your account grows to a large number.its very difficult to see you losing so much dollar when taking a loser.So you will reduce your exposure,You will start risking less as the account grows....
Hi prince Hello
If you wan to be successful in this game.Forget everything you have learnt from FF and start new. FF has some credit to my knowledge and exposure on a whole i met and meet a lot of good people here, the community played a role which is why we are responding to each other. See only the bulls and bear fighting.only this can help you in the long run atleast 10 years.You need these many years to be consistently successful. The average trader without much knowledge will see some luck and then at times lose it all. I have heard of a lot of sad stories but along with the sad ones were success stories also beyond belief almost too good to be true. Just like how you random cases of students being brilliant beyond their years would normally allow or expect of the typical age range to possess them to know there are some traders with the same kind of results too but they are silent. Do not follow any system or indicator. As it relates to following any system or indicator, is it that you do random trades at will? How does that work for you? And about 1-3% its possible when your account is small.When your account grows to a large number.its very difficult to see you losing so much dollar when taking a loser.So you will reduce your exposure,You will start risking less as the account grows. This is true, in fact there would be no need to be as aggressive at that stage but until then. Now when i say 1-3% yes it speaks to a small account growing to a large one, 10 years is a nice little while, should something be working well by that time there will hardly be any headache about what to do. The larger the account the less trades you would require to take as well... probably one good trade would deal with the monthly needs.
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  • #31
  • Feb 9, 2018 5:05pm Feb 9, 2018 5:05pm
Quoting RondaRousey
{quote} This is not how real trading works. Trading is a business if you do it right. You have high margin trades, low margin trades and trades below cost. Losses are COGS. Gains are revenue. You adjust for news events, seasonality etc You make hay when the sun shines and store up for winter. Not everyday is a 1%-3% day Not every week is a 5%-15% week Not every month is a 60% month

This is not how real trading works. Give and take
Trading is a business if you do it right. I agree and can be taken to another level as well.
You have high margin trades, low margin trades and trades below cost. The good thing would be to identify the positives and stick with them.
Losses are COGS. Gains are revenue. Yes typically business runnings.
You adjust for news events, seasonality etc Yes there are some news events i look forward to and the seasonalities as well, almost a given.Year to year i observe some.
You make hay when the sun shines and store up for winter. Yes Trading can be like farming, nice analogy.
Not everyday is a 1%-3% day Not every week is a 5%-15% week Not every month is a 60% month. Aiming for something close is better than nothing. I also think that for a small account it might work easily while for the larger account 1% would be good. Just my opinion.
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  • #32
  • Feb 9, 2018 5:07pm Feb 9, 2018 5:07pm
Quoting jmn5611
{quote} Those excel spreadsheets are intoxicating aren't they? I would not put target on what you can make. I would take whatever the market gives you and after you take your profit, then you can calculate what rate of return would have been.

Yes letting the profits run is a great concept, but what about using the same percentage on locking the profits in this case, so the profits are $10 but you lock $1 to $3 for argument sake and let the rest run as far as it will go or close 1 to 3% if possible and let the rest run after breakeven.
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  • #33
  • Feb 9, 2018 5:25pm Feb 9, 2018 5:25pm
I mention price action/ Candle pattern- And i mention Gold trade from december 12th 2017.
The chart explains.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Gold Example.png Size: 83 KB
Click to Enlarge Name: Gold Results.png Size: 66 KB
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  • #34
  • Feb 9, 2018 5:37pm Feb 9, 2018 5:37pm
I also referred to Gbpjpy on H4 and Daily.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Gbpjpy H4.png Size: 76 KB
Click to Enlarge Name: GBp jpy.png Size: 125 KB
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  • #35
  • Feb 9, 2018 5:51pm Feb 9, 2018 5:51pm
For just a small bias what would you do on this chart here...
If you never seen the same outline, take a look on the resulting trading week.
Should this setup continue look on the potential. This is what i would look on should i use trending or reversals/ rejection. I call this my Naked version of analysis. Any way of automating such. Not sure i think trendline based e.a.s exist but that would be semi automated. However there are other systems which pick up the same results. Any thoughts...?
Attached Image (click to enlarge)
Click to Enlarge Name: Eurusd Monthly Scenrio 2.jpg Size: 198 KB
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  • #36
  • Feb 9, 2018 5:54pm Feb 9, 2018 5:54pm
Look on cadjpy, monthly chart. look on the past week what happened.
Attached Image (click to enlarge)
Click to Enlarge Name: Cadjpy Short Monthly Setup.jpg Size: 88 KB
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  • #37
  • Feb 9, 2018 6:10pm Feb 9, 2018 6:10pm
I do not wish to recreate the wheel as a lot already exist here in the community and elsewhere but more so aiming to collectively fuse some good things that have worked in the past into one good system. So recommending good things found in a system here on forex factory here in this discussion would be great, that if you could extract that one thing you found that is nice, that would make your day and career in the markets a better place. Name it here, name the system, name what has worked for you or what you see great potential in, i don't mind reading and trying to extract from them.
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  • #38
  • Feb 9, 2018 6:20pm Feb 9, 2018 6:20pm
The forums are full of people that will convince you why certain plans and ideas don't work. Because the people that have working systems keep them to themselves. I don't plan on discussing my WIP with anyone.
  • #39
  • Feb 9, 2018 6:23pm Feb 9, 2018 6:23pm
For the currency strength one of the systems exist here on forexfactry, the one i was using was: https://www.forexfactory.com/attachm...1&d=1427194187. I see nice things in it and similar systems found on the thread, i'm not sure if a particular set file exist or update of the system mq4 file based and not exe. I don't mind the recommendations as it relates to:

 

  1. Currency strength-But i need some help to figure out which method has better results.
  2. Trend Trading-Needs a recovery method when the trend suddenly changes.
  3. Breakout- Box setup like london and higher timeframe. m15 to daily.
  4. Reversal or Candle pattern- like the pinbar.

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  • #40
  • Feb 9, 2018 6:30pm Feb 9, 2018 6:30pm
Quoting imtav
The forums are full of people that will convince you why certain plans and ideas don't work. Because the people that have working systems keep them to themselves. I don't plan on discussing my WIP with anyone.
True word, i choose what to focus on, things will always be said, freedom of speech and thoughts are expressed and indeed they are merely thoughts that are expressed. Some thoughts expressed may help someone, somethings may work and others may not. I will sift through the rubble, but if one has the time to look on the thread topic or type, i think the same energy could be directed in giving a recommendation even through inbox. http://nuffer.name/albums/July-4th-i...sand.sized.jpg
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