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My way to highway

  • #1,001
  • Jul 22, 2018 11:25am Jul 22, 2018 11:25am
some readers asked me for a little update.
so, here is a few bits

a couple weeks ago i had some 1 on 1 mentoring with M. from Egypt.
it is really nice to get to know like minded ppl from around the world.
yesterday got some update, he is implementing some changes ( on demo for the time being) and he seem to find improvement in his results.
seriously, these sort of small things can make my day, and prove that trying to offer help isnt in vain, some indeed finds a new direction or motivation from my 'work'.

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also, a handful of you asked how i am doing, and if back to full, 'normal size' trading as before.
the answer is yes, the past 2 weeks i was trading as normal already. ( transfers and regrouping money took some time).
this is the main account. ahead of expectations, with the last week being an extremely strong 7.07% (no higher risk used!!).
still plenty to make up for, but as always, i am trying to string together profitable days, one at a time.

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still alive, still trading, still trying to mentor for free once in a while.
only a bit more vary about what to share here. i am not keen to deal with trolling posts by ppl who has nothing better to do with their life.
i am trying to maintain a neutral to positive mindset during the trading days, and i really try to avoid screwing that. but i am not a robot, and can get emotional.
that has a possible negative effect on me. and in turn on performance. thus a more active avoidance.
anyway, i think really most of the things outlined already clear enough in the journal for those who like to read with open eyes and mind.
and those who has questions can always ask, just as before.

happy weekend!
there is always, always another trade!!
  • #1,002
  • Jul 22, 2018 1:06pm Jul 22, 2018 1:06pm
just don't bother with trolling posts , overall they are just a small minority which sooner or later are disregarded by 95 % of FF

surround yourself with like-minded serious traders who will enhance your positive mindset during the trading day and have only positive effects on you and your performance
  • #1,003
  • Jul 22, 2018 1:23pm Jul 22, 2018 1:23pm
Sometime, when I see spikes that don't retrace much, you are also in my mind.
I am glad to see you back to trading and doing well!
  • #1,004
  • Jul 27, 2018 8:12am Jul 27, 2018 8:12am
weekend.
this one a long kind for me, the month is ending with a 4-5 days break from trading.
very quiet week, this last 2 days only 1 tiny scalp. anyway, fine as is, summer season.
the drawdown still kept low, the profit sort of inline with the summer.
some withdrawals to try to reverse back few finance changes i made. a slowish progress, but progressing.
one day at the time.

happy weekend!
there is always, always another trade!!
  • #1,005
  • Edited 3:43pm Jul 28, 2018 12:54pm | Edited 3:43pm
Hi profitfarmer, i just made an account so i could reply to your inspiring thread here...
Its a nice coincedence that i found your thread exactly one year after your journey started, and that exactly at the time where i am about to start my journey with similiar start conditions as yours... So refreshing to find someone who can inspire positivity in oneselfs journey...
My question ( as i havent read all the thread) :
As i understood you are now trading for FIXI as a prop trader. One of my main goals is also to become a prop trader, but its difficult to find reliable prop firms.
So far ive read in this article about FIXI, AXI and Darwinex... do you know by any chance more prop firms? Would like to be able to compare and reasearch everyone out there.
  • #1,006
  • Jul 28, 2018 8:19pm Jul 28, 2018 8:19pm
Quoting EnkaGiran
Hi profitfarmer, i just made an account so i could reply to your inspiring thread here... Its a nice coincedence that i found your thread exactly one year after your journey started, and that exactly at the time where i am about to start my journey with similiar start conditions as yours... So refreshing to find someone who can inspire positivity in oneselfs journey... My question ( as i havent read all the thread) : As i understood you are now trading for FIXI as a prop trader. One of my main goals is also to become a prop trader, but its difficult...
Hi EnkaGiran,

I am not with Fixi anymore, but been traded with then for 7 months, and up to 1M+ account size.
There was a few reasons, I think I wrote in the journal about the positive and the negative about them.

As for more prop firms.
There is a bunch, most of them is fake, thus not worth to even mention them.
Simple put, for me any prop deal is a fake where you required to pay upfront to "qualify".
Those really looking to make a living from your fees. Even now I recall 3 recent mentions in the 'commercial section' on this forum, some offers 30k funds ( peanuts really for prop) and 50$ max daily drawdown limit!!!
Seriously, 0.2% max daily DD!?!
Of course that is their best amount, you can get 10k, or 3k or something. Like one could make anything on that amount, with 0.2% max daily dd, LOL! The cost to run computer and pay net, and not taking that fastfood job is lot more!
Then there are others, a Russian firm, but they offer a 2 months " free" testing you out, and the something like 8% of profit quarterly....for the real desperate only!!.
There are others too I am sure.
But something to keep in mind: time is money, and it is true for prop trading too.
Often their conditions are not ideal for one's trading style, and even if adjusting is possible, it can be that the amount to manage offered is not making up for that.
Also, it isn't something to depend on.
Smartly enough, most tailored to have quarterly HWM, but that also mean mission it, you may not see any income for 6 months or more from your effort.
In the end,
Unless you have a good size of personal equity to trade, it is not the road to walk I think. With the DD and other restrictions probably would need min. 3-5M prop money to manage to make it worthwhile all in all. And to get there, is seem to be around 2 years+ effort from the start.

Best of luck, And thank you for checking out my journal! Glad if it can help you!
Happy weekend!
there is always, always another trade!!
  • #1,007
  • Jul 31, 2018 9:38am Jul 31, 2018 9:38am
end of July.
not a full month, the money transfers took up some time, only on paper it is quick to rebalance all investments, in reality it takes time.
anyway, it was done, and this month full scale trading resumed.
nearly the same, with few minor changes applied, mentioned earlier in the 'aftermath' posts.
both is in regard to the drawdown, particularly the max drawdown.
in part, involving a little different withdrawal regime, and in part involving a periodic reduction on the risk (multiplier on second account).
the risk today got reduced by 5%,(2x to 1.9x) after 15 consecutive profitable trading days.
not a huge change per se, but as the time and the streak goes ahead, will get the periodic reduction, ever more frequently.
i am still in a small debate with myself about the exact sequence, but it shall somewhat correspond to the left-in compounding profit ( as the aim is still to grow the account, even while trying to reverse the rebalancing effects to my other investments gradually).
the boring technical details, but they happen to be as much part of the trading as a good days profit or a bad days loss. only tend to be more regretted.
attached, the month of July on a picture.
hopefully helps for seeing that the concept of consistency is still alive and well. in the core, nothing that was outlined in the journal has changed!

happy trading!

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there is always, always another trade!!
  • #1,008
  • Aug 4, 2018 12:32am Aug 4, 2018 12:32am
another week.
due the last weekend being a long one, Monday was off trading.
nevertheless, despite trading is a bit quieter ( as expected in summer), was able to continue to trade well.
the moment @ 18 consecutive winning day, still way bellow the record, but as a perk of the slow trading, the drawdowns are really on the lower side too, some days as little as 0.1-0.2% max...although yesterday for a short while it went over 1%.
continue with partial profit withdrawals, but wait for the next week (20 days?) to adjust on risk multiplier.

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i havent posted many charts lately, i think they would look mostly repetitive, there is a good amount of samples i had posted in the past.
also, as said before, with scalping, there is not too much a chance to post a heads up on the forum, and often things change minute by minute, something that looks a possible entry place now, if price does this or that, becomes irrelevant 15 minutes later if things take another direction, same with pairs.
i do, sometimes, on chat, to share some views on possible entries, and have done last 2 weeks with a "student" to scalp 'side by side' this way, to learn better what i am looking for, and how i am looking for it.
i think such interactive ways has definite advantages, on student side.

anyway, this is just a little update, to keep the thread alive. i think plenty valuable things here, that one can find a use in their trading.
i think plenty motivational too, showing it is possible.
and i think it would be a shame to let the thread completely die, after the time spent on it. although yes, it is dying, ppl a lot more interested in big numbers, even if they tend to fail a lot sooner or later. others assume it is settling for "too little" when one cant make more.
a few days ago found one screenshot for a small account of mine back in 2015.
also a 4 days week, just as my latest week was...a lot more risk was applied that time, on lot smaller account, but isnt it fun to look those numbers? after all, the trading style has not changed much since then

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happy weekend!
there is always, always another trade!!
  • #1,009
  • Aug 4, 2018 4:21am Aug 4, 2018 4:21am
Quoting profitfarmer
with scalping, there is not too much a chance to post a heads up on the forum, and often things change minute by minute, something that looks a possible entry place now, if price does this or that, becomes irrelevant 15 minutes later
that's why i try to post only major intraday entries on the eurusd thread

there's a lot of scalpers over there , looking at short time frames , and often the big time frame calls get mixed up with the lower time frame calls

i do take scalps as well , but try to post only major levels trying not to mix things up
  • #1,010
  • Aug 4, 2018 4:49am Aug 4, 2018 4:49am
Quoting MXT
{quote} that's why i try to post only major intraday entries on the eurusd thread there's a lot of scalpers over there , looking at short time frames , and often the big time frame calls get mixed up with the lower time frame calls i do take scalps as well , but try to post only major levels trying not to mix things up
that's all fine.
i can make calls for position/swing trades, but choose not to here.
that doesnt mean sometimes in private i dont share those with ppl.
for scalping, live chat works ok, but i am not by any means looking to set up a group chat, a telegram signal/call, etc, free or paid.

on a side note, back some times there was some posts that related to an aspect of prop trading: style drift.
while trading day to day a hybrid ( scalping + position trades) can work well, i see benefits on focusing one approach and staying true to that. it also limit the chance to "drift", make a scalping trade into a swing when against oneself, or close a swing trade with a few pips, without a major reason, etc.
there is always, always another trade!!
  • #1,011
  • Aug 25, 2018 10:43am Aug 25, 2018 10:43am
Hello Pf,

I wanted to know what are the requirements for the 6months track record to be accepted in the axi prop program. I couldn't find the information on their website other than they check your trading history.

Thank you,
  • #1,012
  • Aug 25, 2018 9:28pm Aug 25, 2018 9:28pm
Quoting samuel2133
Hello Pf, I wanted to know what are the requirements for the 6months track record to be accepted in the axi prop program. I couldn't find the information on their website other than they check your trading history. Thank you,
Hi
The 6 month+ length can be any broker ( Axi or not Axi) broker. Live accounts only. If nothing changed then 1k+ equity. ( shows some basic commitment)
When attached/uploaded to Psy, it will get a score, that needs to be above 75.
If this 3 met ( length, score, own equity/real acct) then I think you are automatically in for the first step...up to 10k to start out ( 5x own equity, capped at max 10k).

Just a note: the scoring system not put max value on highest return alone, so, one can qualify with say 1% a month profit just as good as one with 80% a month profit. Maybe even easier, as risk is represented in score, as well length of trading history.
Since the funded program has a max 10% a month dd limit, or 20% max dd before be out completely, it is worth to consider if your trading fits into this, or can be tweaked/resized to fit into.
The ultimate payout of such funded programs not the extra 10k, or 50k to manage, but what's beyond that.

Happy weekend!
there is always, always another trade!!
  • #1,013
  • Aug 27, 2018 6:06am Aug 27, 2018 6:06am
Quoting profitfarmer
{quote} Hi The 6 month+ length can be any broker ( Axi or not Axi) broker. Live accounts only. If nothing changed then 1k+ equity. ( shows some basic commitment) When attached/uploaded to Psy, it will get a score, that needs to be above 75. If this 3 met ( length, score, own equity/real acct) then I think you are automatically in for the first step...up to 10k to start out ( 5x own equity, capped at max 10k). Just a note: the scoring system not put max value on highest return alone, so, one can qualify with say 1% a month profit just as good as...
Thanks PF!

A new trading week awaits. Green pips to the highway.
  • #1,014
  • Sep 10, 2018 1:35pm Sep 10, 2018 1:35pm
Hello Profitfarmer , i'd like to know if you use a fixed risk/reward system , for example i risk 1 to have at least the double as return a 1 to 2 risk reward ratio.
Reading your thread and other post i understood that you use no fixed stop loss , this is why i'm asking if you have any kind of risk reward ratio in your head , or if you close your profit regardless of risk rewards ratios , onlu focusing on some target in the chart even if the risk /reward ratio is inverted.
Many "guru" and other traders say to be siccesful you have to adopt this kind of risk reward ratios 1 to 2 , 1 to 3 ect etc.
SO is that your case too?
I hope my question was clear enough.
I apologize for my english and i apologize if i'm derailing your thread.
  • #1,015
  • Sep 10, 2018 3:58pm Sep 10, 2018 3:58pm
So what is the biggest functions to get your psyquation score above %75 ? Is it open draw down periods ?
Thanks!
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  • #1,016
  • Sep 10, 2018 7:04pm Sep 10, 2018 7:04pm
Quoting IknowNothing
Hello Profitfarmer , i'd like to know if you use a fixed risk/reward system , for example i risk 1 to have at least the double as return a 1 to 2 risk reward ratio. Reading your thread and other post i understood that you use no fixed stop loss , this is why i'm asking if you have any kind of risk reward ratio in your head , or if you close your profit regardless of risk rewards ratios , onlu focusing on some target in the chart even if the risk /reward ratio is inverted. Many "guru" and other traders say to be siccesful you have to adopt this kind...
hi IkonwNothing,

cant derail the thread, it is dead/hibernation mode anyway.
the question is good.
while i dont talk too much on the thread about R:R, i do it in private.
in my opinion the whole concept of R:R as is, is flowed.
of course, i looking to enter a trade that likely to give low drawdown and good return, but it isnt a simple matter, really.
say, the "gurus" or book mostly refer to 2x reward or more...
how it looks like in the reality?
50SL vs. 100 TP. the advanced ones teach you that once you are at +50, set your SL to BE, too. then it is a free trade ( no such exist!!)
all is well on paper, thus you see and entry and buy....
the SL scenario is clear, so, ignore that. or maybe not.

scenario#1: your trade goes your favor 30 pips, then turn against you, and hit SL. what is your R:R when you are at +30 floating?
your SL 80 bellow, your TP 70 above...the REAL time REAL R:R? ( hint: not risk 1, gain 2!; there is no market's money, that is casino talk!!)

scenario#2: your trade fare nicely, now +50 from entry...time to set the SL to BE, right? what is your R:R ration when you do?
in fact your new SL is 50 bellow, your TP is 50 above. ( still, there is no market's money! never is! it is your money. and your effective R:R is 1:1)

scenario#2A: you dont subscribe to the BE change, either 2x reward or SL...say your trade is looking great, +60....your TP is now only 40 above, your SL ( the original, unchanged) 110 bellow...for the final 40 you risk losing all the gains, and with a SL a full loss of 110 ( remember, there is no market's money!)

scenario#3: you did scenario#2, all smooth, the SL is BE, the price keep rising...now +80, only 20 bellow your TP....yet the BE SL is 80 bellow! what is your current R:R?
your REAL R:R, knowing that there is no market's money?!!

hope this little lesson helps some. feel free to ask, the thread is dead, i am alive.

happy trading!
there is always, always another trade!!
  • #1,017
  • Sep 10, 2018 7:10pm Sep 10, 2018 7:10pm
Quoting PippinUSA150
So what is the biggest functions to get your psyquation score above %75 ? Is it open draw down periods ? Thanks! {image}
hi Cliff,

the score has a function to give an overall view on the account/trader, it is by no mean a foolproof one, but comes together from component that compare account to the other accounts ( there is like 4000 active accts attached, think).
your risk score will come from the % of total accounts 's average risk, your trade history's length compare to other accounts's history length, your profit/drawdown, sharpe etc does the same.

it may be able to give you a rough idea what area you seem to lag, or pick an area you are looking to improve about. like the "risk" component.

however, i am only a user, and such maybe not qualified to give you a perfect answer, their support probably can. ( Mike and Vlad are great at that).
this is how, as a trader, i look at the score, the above is my view and understanding.

happy trading!
there is always, always another trade!!
  • #1,018
  • Sep 10, 2018 8:12pm Sep 10, 2018 8:12pm
Thanks bud !
  • #1,019
  • Sep 11, 2018 2:52pm Sep 11, 2018 2:52pm
ProfitFarmer ,thanks for your reply.
I understand what you are explaining in part , exeption done for some detail , but i get in general what you want to say.
To fully understand , i would need details of your trading system , and i'm not here to ask that.
After 2 years of trading my equity stands on BE , i win some,i lose some .
People say that if i've not blowed my account in 2 years and my equity is on BE , i'm already in a good spot,and i need just a little bit to take the fly.
I hope they are right.

Thank you again for the reply.
Regards.
  • #1,020
  • Sep 11, 2018 8:28pm Sep 11, 2018 8:28pm
Quoting IknowNothing
ProfitFarmer ,thanks for your reply. I understand what you are explaining in part , exeption done for some detail , but i get in general what you want to say. To fully understand , i would need details of your trading system , and i'm not here to ask that. After 2 years of trading my equity stands on BE , i win some,i lose some . People say that if i've not blowed my account in 2 years and my equity is on BE , i'm already in a good spot,and i need just a little bit to take the fly. I hope they are right. Thank you again for the reply. Regards.
hi
a quick summary of the previous post's meaning:
R:R is fluid. unless you rigidly run to the original TP or SL, the moment the price moves, especially you are in profit, those numbers change. often, in the end, trying to bag that final 10 pips for the 2x reward, you may end up risking 90 pips the price already moved for your favor...nothing like 2x reward at that point...
there is always, always another trade!!
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