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  • #463,061
  • Jul 28, 2018 11:49pm Jul 28, 2018 11:49pm
Yes. No end to this kind of discussions though it is healthy to discuss.

I will try my best not to give a single cent to broker henceforth by trading small lots, with low leverage and bigger capital.
Intraday only.
  • #463,062
  • Jul 29, 2018 12:23am Jul 29, 2018 12:23am
Quoting navk
Yes. No end to this kind of discussions though it is healthy to discuss. I will try my best not to give a single cent to broker henceforth by trading small lots, with low leverage and bigger capital.
I have no objections to brokers making a living. We all have to eat and we wouldn't be here if they didn't provide the opportunity.

Brokers get paid whether we win or lose, it is other traders we are trying to rob.
  • #463,063
  • Jul 29, 2018 12:35am Jul 29, 2018 12:35am
Quoting navk
A mentor to me said : 1) I will not loose my money if I trade with 1: 10 leverage. In fact he challenged me to loose all of my capital with 1 : 10 leverage. 2) I should trade with bigger capital with smaller leverage and lots for not loosing my money. Considering the amount of time we spend and internet, electricity charges etc higher capital is required to make reasonable income. Not 400 $ profit with 1000 $ capital on the first day of trading and then loosing all on the second day. My mentor advice : Systems make 20 % success. Risk management...
strict trade plans with those simple rules may avoid any consequences. great ! all in one in few words ! fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #463,064
  • Jul 29, 2018 12:48am Jul 29, 2018 12:48am
Quoting fontu
{quote} strict trade plans with those simple rules may avoid any consequences. great ! all in one in few words ! fontu
Hi fontu welcome to this little chat.

I have more time now so can reply quicker.

OK let's take this one point at a time... 1:10 leverage can't lose, however leverage is a two edged sword so it cannot win much either.

I look for 120 pips to make 100% with a 1:10 I would have to look for 4800. This would be a problem for me being a day trader.
  • #463,065
  • Jul 29, 2018 1:04am Jul 29, 2018 1:04am
Number 2.

Bigger capital does not result in bigger wins. Many people have blown large sums of money thinking the exact same thing.

Starting the account small and building it so the risk grows less as the account grows bigger is in my opinion far less stressful.

Starting with say $200, a sum we should be able to flush down the toilet, doubling it monthly adds up to a great deal of money over the course of the year.

Keep the large sum in the bank where it is much safer and can be drawn on if needed.

I am a mentor and say money management is 99% of the trade the rest is just mechanics. Nothing whatsoever to do with Pie-chology or systems.
  • #463,066
  • Jul 29, 2018 1:11am Jul 29, 2018 1:11am
I think it should be quite obvious by now that traders with different approaches, trading different timeframes, and different objectives (daily income vs building equity as an example), will likely employ different strategies.

If your strategy works to achieve your objective, then is it wrong?

Of course not.

Unless we can empathise with another traders situation, goals, and HOW they employ their strategy, it seems pointless arguing against it if it is working for them.
Come with me if you want to live....
  • #463,067
  • Jul 29, 2018 1:14am Jul 29, 2018 1:14am
Quoting Ill-b-back
I think it should be quite obvious by now that traders with different approaches, trading different timeframes, and different objectives (daily income vs building equity as an example), will likely employ different strategies. If your strategy works to achieve your objective, then is it wrong? Of course not. Unless we can empathise with another traders situation, goals, and HOW they employ their strategy, it seems pointless arguing against it if it is working for them.
Exactly it is pointless and only the individual trader really knows if it is working for them.
  • #463,068
  • Edited 1:41am Jul 29, 2018 1:28am | Edited 1:41am
1) Having a reasonable analysis combined with low leverage and smaller lot size with bigger capital. - This is category 1

2 ) Trusting their own analysis,, higher leverage and bigger size lots with smaller capital - This is category 2.

The first one is confident that he will not loose at all but will win slowly and reach the target slowly.

The second category can reach peak much quicker than the first category provided if they trust ( and strongly trust ) in the system they follow. Having said that, the individual trader only knows if it works, using stop loss and using high leverage.

So it is up to individuals at the end.
Intraday only.
  • #463,069
  • Jul 29, 2018 1:54am Jul 29, 2018 1:54am
Quoting navk
1) Having a reasonable analysis combined with low leverage and smaller lot size with bigger capital. - This is category 1 2 ) Trusting their own analysis,, higher leverage and bigger size lots with smaller capital - This is category 2. The first one is confident that he will not loose at all but will win slowly and reach the target slowly. The second category can reach peak much quicker than the first category provided if they trust ( and strongly trust ) in the system they follow. So it is up to individuals at the end.
You are missing out important factors...

The STOP, a device to limit the loss so the trader has the opportunity to take a fresh look at what is going on.
The COMPOUNDING effect of adding to winning trades and adjusting the stops accordingly.
The rapid growth having a diminishing RISK effect.
The sheer EXCITEMENT of achieving ones objectives on a daily basis.
The KNOWLEGE of last years profits are in the bank.
The personal CHALLENGE of doing better this year than last.

and on it goes....
  • #463,070
  • Jul 29, 2018 2:03am Jul 29, 2018 2:03am
Quoting Nala66
{quote} You are missing out important factors... The STOP, a device to limit the loss so the trader has the opportunity to take a fresh look at what is going on. The COMPOUNDING effect of adding to winning trades and adjusting the stops accordingly. The rapid growth having a diminishing RISK effect. The sheer EXCITEMENT of achieving ones objectives on a daily basis. The KNOWLEGE of last years profits are in the bank. The personal CHALLENGE of doing better this year than last. and on it goes....
It is good if it works. That is why I said it depends on persons.

For me, the method is different.

For others totally different concept altogether.
Intraday only.
  • #463,071
  • Jul 29, 2018 2:18am Jul 29, 2018 2:18am
Quoting navk
{quote} It is good if it works. That is why I said it depends on persons. For me, the method is different. For others totally different concept altogether.
That is kerrect and far be it from me to try to convince you otherwise.

……………………...

I know a guy who aims to make 15K a day. He is absolutely livid if he doesn't make it to the point of throwing chairs and smashing monitors. I would expect him to have a heart attack one day. This is trading for death not for a living but he has gotten himself into a lifestyle where he needs such money to maintain it.

It takes people from all walks of life with all the personality traits to boot. Some just like to trade out of pure interest, who knows what people come to the table and with what baggage they bring with them.
  • #463,072
  • Jul 29, 2018 2:29am Jul 29, 2018 2:29am
wait, another topic now.

15k.

Is it not possible for a trader who is having 200k - 300 k capital? ( Deinitley not possible with my method )

But I can aim 0.5 to 1 % per day.
Intraday only.
  • #463,073
  • Jul 29, 2018 2:34am Jul 29, 2018 2:34am
Quoting navk
wait, another topic now. 15k. Is it not possible for a trader who is having 200k - 300 k capital? ( Deinitley not possible with my method )
I have no idea what his account is but I would say it is substantially more than that.
  • #463,074
  • Jul 29, 2018 2:34am Jul 29, 2018 2:34am

️
just for a cup of coffee...
  • #463,075
  • Jul 29, 2018 2:43am Jul 29, 2018 2:43am
Quoting akim0895
️
we should ask that 15k person to share some percentage with us.

I will be happy If I make consistently 250 $ a day.
Intraday only.
  • #463,076
  • Jul 29, 2018 2:45am Jul 29, 2018 2:45am
I have traveled from west to east and my timing suits as otherwise I will not have time to chat now on these topics.
Intraday only.
  • #463,077
  • Jul 29, 2018 2:45am Jul 29, 2018 2:45am
I have just worked out my average % for this month, so far (20days) and it is 25.275% per day.

I know I will not sustain this, nor do I intend to.

A compounding 100% per month is plenty.

120 pips divided by say 20 days means I only need 6 pips a day to make 100%
  • #463,078
  • Jul 29, 2018 2:49am Jul 29, 2018 2:49am
Quoting navk
{quote} we should ask that 15k person to share some percentage with us. I will be happy If I make consistently 250 $ a day.

for me no need that kinds of money to trading
everydays we all trade to low the risk we take,not good idea to take much risk on its
just for a cup of coffee...
  • #463,079
  • Jul 29, 2018 2:49am Jul 29, 2018 2:49am
Quoting Nala66
I have just worked out my average % for this month, so far (20days) and it is 25.275% per day. I know I will not sustain this, nor do I intend to. A compounding 100% per month is plenty. 120 pips divided by say 20 days means I only need 6 pips a day to make 100%
whatever method you follow, this is excellent going.
Intraday only.
  • #463,080
  • Jul 29, 2018 2:51am Jul 29, 2018 2:51am
Quoting akim0895
{quote} for me no need that kinds of money to trading everydays we all trade to low the risk we take,not good idea to take much risk on its
I agree with you. Seasoned guy statement.
Intraday only.
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