Necessity knows no law except to conquer
(binned per thread starter's request) Friendly Trading Competitio
- #62
- Oct 3, 2018 11:08am Oct 3, 2018 11:08am
- Joined Dec 2015 | Status: Suuka Maadik | 3,630 Posts
Maadik Hugiis. IQ 69.
- #64
- Oct 3, 2018 11:14am Oct 3, 2018 11:14am
- Joined Dec 2015 | Status: Suuka Maadik | 3,630 Posts
It does seem I will not close any trades any time soon, so here is a shot of my avg price and where the trades are being opened.
In case you want to make a dollar or two, you can sell the gold now and in the coming 2 weeks and lets close most of our sells around or below 1160. Why not even below 1160?
In case you want to make a dollar or two, you can sell the gold now and in the coming 2 weeks and lets close most of our sells around or below 1160. Why not even below 1160?
Maadik Hugiis. IQ 69.
- #66
- Oct 3, 2018 6:33pm Oct 3, 2018 6:33pm
Well! I am up and let me share that so far I have made tons of mistakes.
It was expected. As this competition is a self improvement project
Previously, even when I will post my equity curve on social somewhere, I will go into drawdown.
So this completely public trading is a big step up. Hopefully I will grow out of it.
I do pay lots of commission. That's life of intra day trader.
But right now it is ridiculous. And clearly result of overtrading. Generally, I am paying something like ~18% of revenue in commissions, but this account it has been crazy high. Definitely this is not how I wish to continue.
Another reason is that I am still paying full 7/lot. normally I am paying something like 4 to 5.4/lot. The number of rounds turns I do, this quickly adds up. I have sent an email to broker yesterday, hopefully this will be resolved soon.
And I trade manually, but I use trade manager to auto calculate lot size from % equity and set SL/TP. I was actually using ctrader which is more suited for fast intra day trading, but it was acting very very buggy, and they were taking forever to release version 3. Now they are trialing version 3.3 which looks very interesting. Perhaps in Round # 2, I should move back to ctrader
I have decided to keep the position sizing same and continue on. As I want to see through this whole week and then make changes if required. I might be increasing size of individual position, while reducing the # of positions. When I moved over from main account to this competition account, I kept the % risk same, but tried to compensate with more number of positions, looks like that is not working well.
It was expected. As this competition is a self improvement project
Previously, even when I will post my equity curve on social somewhere, I will go into drawdown.
So this completely public trading is a big step up. Hopefully I will grow out of it.
I do pay lots of commission. That's life of intra day trader.
But right now it is ridiculous. And clearly result of overtrading. Generally, I am paying something like ~18% of revenue in commissions, but this account it has been crazy high. Definitely this is not how I wish to continue.
Another reason is that I am still paying full 7/lot. normally I am paying something like 4 to 5.4/lot. The number of rounds turns I do, this quickly adds up. I have sent an email to broker yesterday, hopefully this will be resolved soon.
And I trade manually, but I use trade manager to auto calculate lot size from % equity and set SL/TP. I was actually using ctrader which is more suited for fast intra day trading, but it was acting very very buggy, and they were taking forever to release version 3. Now they are trialing version 3.3 which looks very interesting. Perhaps in Round # 2, I should move back to ctrader
I have decided to keep the position sizing same and continue on. As I want to see through this whole week and then make changes if required. I might be increasing size of individual position, while reducing the # of positions. When I moved over from main account to this competition account, I kept the % risk same, but tried to compensate with more number of positions, looks like that is not working well.
@trader_umr
- #67
- Oct 3, 2018 6:37pm Oct 3, 2018 6:37pm
I found the old twitter posts.
Everytime I would even post equity chart, I would go into drawdown. It is a physiological thing. Full public trading is a big step up It will take me some time to grow out of it.
Here is another one, which shows that I have always taken tons of trades. But right now, it is ridiculously high and clearly result of overtrading.
Everytime I would even post equity chart, I would go into drawdown. It is a physiological thing. Full public trading is a big step up
It will take me some time to grow out of it. Here is another one, which shows that I have always taken tons of trades. But right now, it is ridiculously high and clearly result of overtrading.
@trader_umr
- #68
- Oct 3, 2018 6:39pm Oct 3, 2018 6:39pm
It does seem I will not close any trades any time soon, so here is a shot of my avg price and where the trades are being opened. {image} {image} In case you want to make a dollar or two, you can sell the gold now and in the coming 2 weeks and lets close most of our sells around or below 1160. Why not even below 1160?
Best of luck mate.
Our account equity curves have finally start to move around. 
@trader_umr
- #69
- Oct 3, 2018 10:03pm Oct 3, 2018 10:03pm
- Joined Dec 2015 | Status: Suuka Maadik | 3,630 Posts
{quote}
This competition brings self improvments in my trading, too. I now every day, manually do change the date of the channel indicator that sells every next daily high. Never being doing that before!
Good luck to you, too!
Maadik Hugiis. IQ 69.
- #73
- Oct 5, 2018 10:47am Oct 5, 2018 10:47am
End of the day for me.
Sorry about missing yesterday EOD report. I didn't traded much yesterday. But as I have described in my earlier posts I over traded on impulse last time after closing for that day and gave back roughly half of the profits.
Here is today's report card. Hopefully this format is better than simple text. But let me know what you think.
Sorry about missing yesterday EOD report. I didn't traded much yesterday. But as I have described in my earlier posts I over traded on impulse last time after closing for that day and gave back roughly half of the profits.
Here is today's report card. Hopefully this format is better than simple text. But let me know what you think.
@trader_umr
- #74
- Oct 5, 2018 1:44pm Oct 5, 2018 1:44pm
End of the day for me. Sorry about missing yesterday EOD report. I didn't traded much yesterday. But as I have described in my earlier posts I over traded on impulse last time after closing for that day and gave back roughly half of the profits. Here is today's report card. Hopefully this format is better than simple text. But let me know what you think.
You win some you loose some do both with peace of mind
- #76
- Oct 8, 2018 3:56am Oct 8, 2018 3:56am
- Joined Dec 2015 | Status: Suuka Maadik | 3,630 Posts
Its an interesting competition but I think you guys should set some more rules because the one who gets to a 100% first, doesnt necessarily have the best trading system. It could happen that someone is martingaling the sh** out of their account and gets to 100% in a couple of weeks. As we all know martingale is all about how long someones lucky streak is, in the end it always wipes out an account. Similarly with every grid system. I would also ban extreme scalping systems only because they do not work on larger deposits. I would also limit the max...
I am in this for fun and to learn how to control a 2k sized account. Primarily for the second reason, actually.
Trading publicly just helps me to ignore all kinds of public opinions. I simply do love to challenge the bigger volume, usually the critics, and do not give a damn of what they think... Irritating them makes even more happy.
So, it is all positive gains everywhere.
Maadik Hugiis. IQ 69.
- #77
- Oct 8, 2018 4:15am Oct 8, 2018 4:15am
{quote} Come and join us under the present loose rules? I am in this for fun and to learn how to control a 2k sized account. Primarily for the second reason, actually. Trading publicly just helps me to ignore all kinds of public opinions. I simply do love to challenge the bigger volume, usually the critics, and do not give a damn of what they think... Irritating them makes even more happy. So, it is all positive gains everywhere.
There is no point in me participating. On one account I am building a trading history with low risk and the other account is at a FCA broker with a 1:30 max leverage so there is no way to compete. A better metric than 100% profit would be a ratio between avg monthly profit vs max DD during a certain period of time, say 6 months. It would be much easier to calculate the systems efficiency that way.
- #78
- Edited 4:52am Oct 8, 2018 4:33am | Edited 4:52am
- Joined Dec 2015 | Status: Suuka Maadik | 3,630 Posts
Maadik Hugiis. IQ 69.
- #79
- Oct 8, 2018 4:40am Oct 8, 2018 4:40am
- Joined Dec 2015 | Status: Suuka Maadik | 3,630 Posts
I can HONESTLY tell you, from I have read here and spoken with professional traders... These DD limitations they set and those DD to GAINS ratios. This is BS! BIG TIME BS! Big time PIG TIME! Damn it!
This is so damaging! I have tried to follow those numbers (DD and % gained). They only SLOWED ME DOWN! BS! Pure BS! Crap!
About 2-3 weeks ago I have realized how bad those limitations, nobody can reach, not a hobby trader for sure, really are!
In my real Life business experience, there were no such values! There are not such values in my EVERYDAY BUSINESS! This is all PURE CRAP! DAMN it!
This is so damaging! I have tried to follow those numbers (DD and % gained). They only SLOWED ME DOWN! BS! Pure BS! Crap!
About 2-3 weeks ago I have realized how bad those limitations, nobody can reach, not a hobby trader for sure, really are!
In my real Life business experience, there were no such values! There are not such values in my EVERYDAY BUSINESS! This is all PURE CRAP! DAMN it!
Maadik Hugiis. IQ 69.
- #80
- Oct 8, 2018 5:00am Oct 8, 2018 5:00am
- Joined Dec 2015 | Status: Suuka Maadik | 3,630 Posts
Very few here do know or realize what is the actual DD when starting a business?
Does anyone have an idea?
Joker: The DD, when starting a business, can grow in HUNDREDS of %! Well over 100%, especially, if you debt some money? More money? Even more?
Who is this round shaped idiot who have set the GENERAL forex trading DD standards?
I want to see this round shaped complete idiot!
Bring him to me! I will beat him in the head, with a heavy mining equipment! Every next 2 hours...
Damn it!
Does anyone have an idea?
Joker: The DD, when starting a business, can grow in HUNDREDS of %! Well over 100%, especially, if you debt some money? More money? Even more?
Who is this round shaped idiot who have set the GENERAL forex trading DD standards?
I want to see this round shaped complete idiot!
Bring him to me! I will beat him in the head, with a heavy mining equipment! Every next 2 hours...
Damn it!
Maadik Hugiis. IQ 69.