Silver spoon

up to you how you like to understand it.
maybe losing accounts keep adding funds after losses.
or maybe the winners are gamblers as you suggest.
although gamblers tend to not stop, but gamble. winners or losers. gamblers are addicted to the game.
anyway, just some different take to consider.

and while considering,
if i may suggest you one thing to google: "lost opportunity cost" or simple "opportunity cost".
when planning on your walk, perhaps consider the benefit vs time.

happy trading!

Thank you for your contribution. I didn't really get the point of that article. But I read your tread and understand your point about time and money. I am in pension so time is not an issue but money is. I intend to invest more money, if my account is in profit. My main goal is to prove to myself that I can trade profitable. money would be a bonus.

i have opened a long trade in EUR/JPY as counter to short EUR/USD. Todays statement:dep. 200. Balance 200.56. Equity 200.3.

I have opened a short 10y note trade and closed long EUR/JPY trade.

Closed short 10y note with small profit. Equity on my acc. went into small loss today, but is positive again.
I must confess I like reading posts on this forum. But I would like more posts,where I could see how a writer is doing in his trading There is many elaborate drawings with suggestions where the trade should go,but no end results.

Set a short stop order for EUR/USD at 1.1585.S/L 1.16929.

My EUR/USD trades.

After 8 days of trading my equity is at €200 ,equal to deposit. No profit yet and 21 days to go.

What a change from yesterday. Closed all 3 EUR/USD shorts. Two yesterday evening and one with very best price in the morning. Profit 0.7%. Twenty days to go.

Opened EUR/USD short at 1.14478. S/L 1.14860.

After nearly two weeks of trading I am up 0.7% more than half way to my goal of at list 1% profit a month. I have deposited more money to grow acc. to €250 from €100. My system allow me to trade 0.001 for every € 100. This way my draw down is limited. In the past I used to trade 0.01 on acc. of say €300 and when my trade start losing I started moving stop loss or set S/L too close and being closed out. Now I set very wide S/L( 1 or 2%) which can be 100 or 200 pips.
This strategy will greatly reduce the losses once a trader enters a significant losing streak and it takes away a lot of emotional pressure as well.
The point is that the professionals understand that entry rules only have very little importance and that the most important cornerstone of any trading strategy is position sizing and risk management. This is a main reason why so many amateur traders struggle – they focus all their energy and spend all their time on the least important factor.

New week,new opportunities. have only one small silver trade at the moment.

Set up a sell order for bund at 163.30 and buy order for EUR/USD at 1.1415.

The three goals as a trader
1) Achieving a certain percentage return
Usually, risk -seeking traders, or people with a gambling mindset will exclusively look for achieving a high percentage gain to grow their accounts fast, while often neglecting the importance of controlling drawdowns and managing risk properly. Thus, traders who are mainly looking for more profits often end up losing the most.
Risk-averse traders are mostly concerned about keeping drawdowns small and avoiding major swings in their account balance.

This is my third week and I am down 0.1% on my way to a goal of 1% monthly profit. There is still a little more than a week trading and everything can change. It is also my first week ending in loss.

I think your goal is very realistic %1. But do not beat yourself up if you have a few bad months. you can have -%6 month and still be a %5 trader that made it in this profession versus the trader that lost %95 of their money for the year. Most new traders lose %100 of their capitol within the first 3-6 months. Wish you good luck! There are not many people here that are realistic. Glad to see you here.

thank you for your comment. I am regular reader of your post.

Opened EUR/USD short@ 1.1418.

Profitability declines substantially as effective leverage2 increases: 40% of traders using an average effective leverage of 5:1 or lower turned a profit while only 17% using 25 :1 or higher closed at a profit.


Account #1

Balance £1,000
Effective leverage: 5:1
5 * 1,000 = £5,000

Account #2

Balance £400
Effective leverage: 5:1
5 *400 = £2,000

In order not to exceed a maximum effective leverage of 5:1, the notional value of all trading positions in account #1 should not exceed £5,000 and in account #2 should not exceed £2,000.

Rise of EUR/USD made me 1.1% loss. There is still 5 trading days to go.Anything is possible.