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  • #81
  • Oct 8, 2018 3:04am Oct 8, 2018 3:04am
Dude are you okay?
Necessity knows no law except to conquer
  • #82
  • Oct 8, 2018 3:08am Oct 8, 2018 3:08am
Quoting 3ndlessHope
Dude are you okay?
Maadik Hugiis. IQ 69.
  • #83
  • Oct 8, 2018 3:27am Oct 8, 2018 3:27am
Quoting OFtrader
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...
It is impossible to set restrictions of trading styles, as this become philosophical debate. Where exactly you draw the line? It is hard to decide that. Plus if we really have more rounds in future, it is unlikely that a bad trader with a bad system will come out ahead or be able to double the accounts consistently round after round.

Scalping edges reduce on larger deposits. That is correct. However, in forex, it is really when you go over single digit millions of dollars per click that you need to worry about it. For money manager that is a real issue, but independent traders can still scalp especially if they hit a handful of home runs in a month. Like keep some good trades for way longer than their average trades. This create such a large positive discrepancy that it is crazy we can do that.
@trader_umr
  • #84
  • Oct 8, 2018 3:31am Oct 8, 2018 3:31am
Quoting MoneyZilla
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...
I agree with the general sentiment that hard draw down limits can be determent to account growth.

However discretionary traders can feel out of sync especially when they in the red. It can become hard to decide whether you are making decisions sensibly or not. Pre defined max draw down limits which take in to account characteristics of system and instrument can help with that.
@trader_umr
  • #85
  • Oct 8, 2018 3:53am Oct 8, 2018 3:53am
Quoting traderumr
{quote} I agree with the general sentiment that hard draw down limits can be determent to account growth. However discretionary traders can feel out of sync especially when they in the red. It can become hard to decide whether you are making decisions sensibly or not. Pre defined max draw down limits which take in to account characteristics of system and instrument can help with that.
I will give you an example, from my other (the major) live account trading. The one I use under my signature.

I had a DD of way over -50%. TE is showing something like 47%, but the real DD was -9k on a 15.4k equity! I was using not well know system, that loses it's edge in a range.

To recover, I used my Addicted Gambler system (latest creation of mine) and at some point I had to accept -4.5k loss from the frozen, but still opened previous system trades. This reflected to my opening balance and equity. The balance went from 14.1k to 10.9k (I have added 1.4k in profits prior the DD drama). It was a big mistake I have accepted the loss of -4.5k, but at that time (1-2 days before the interest rate hike on 26.09) the possibility of a 10-20 bucks spike was very much possible and I had to save the account money and live to fight another day.

So, atm the account equity is around 18k. I have added +7k already, after accepting the -4.5k loss. If I had -50% max DD cap on the account, guess where I would have been at the moment?

BTW I am chasing the monthly candle. 18k will reduce and then increase and then reduce I do not know how many times. I am here for the 50-60-70 bucks monthly candle. It is all or nothing. Pure Gambler's Mentality!
Maadik Hugiis. IQ 69.
  • #86
  • Oct 8, 2018 4:14am Oct 8, 2018 4:14am
Quoting traderumr
{quote} It is impossible to set restrictions of trading styles, as this become philosophical debate. Where exactly you draw the line? It is hard to decide that. Plus if we really have more rounds in future, it is unlikely that a bad trader with a bad system will come out ahead or be able to double the accounts consistently round after round. Scalping edges reduce on larger deposits. That is correct. However, in forex, it is really when you go over single digit millions of dollars per click that you need to worry about it. For money manager that...

Its definitely not the case that scalping starts to affect results after such large volumes are being traded. I have tried a scalping system in IC Markets on a 50k account and the difference between that and a 3k account that I was trading to compare were huge. The 3k account was making 5% per month while the 50k was barely profitable. The entries and exits had so much slippage that it just didnt work. I reduced the deposit to 20k and there were still large differences. Only when I got to 10k it was somehow similar but it still was not identical. I have also heard from others that with scalping strategies, scalability is a huge problem and thats why I have never seen a scalping system trading a large amount or even an amount over 30k.
  • #87
  • Oct 8, 2018 4:31am Oct 8, 2018 4:31am
Quoting OFtrader
{quote} Its definitely not the case that scalping starts to affect results after such large volumes are being traded. I have tried a scalping system in IC Markets on a 50k account and the difference between that and a 3k account that I was trading to compare were huge. The 3k account was making 5% per month while the 50k was barely profitable. The entries and exits had so much slippage that it just didnt work. I reduced the deposit to 20k and there were still large differences. Only when I got to 10k it was somehow similar but it still was not identical....
I have not found much slippage when trading in sizes of upto 10 lots at ICmarkets per click.

Were you trading a larger clip size? Or trading crosses instead of true majors?

Did you try to split volume across brokers/venues? You can even look in to making market at some venues if you trade serious capital.

Overall, scalability is an issue, not denying that. But in my experience it would not be an issue for retail account size for upto a few hundred thousands, even if that uses some serious leverage. Fx market is just too vast and deep. Dukascopy claims during LN/NY time, they can fill 200 mil EURUSD orders within 2 pips.
@trader_umr
  • #88
  • Oct 8, 2018 4:36am Oct 8, 2018 4:36am
This is EURO at the moment (100 lots at 0.4 pip spread):

Attached Image


Very rough estimate of available liquidity. But still can be used as an estimate.
@trader_umr
  • #89
  • Oct 8, 2018 4:47am Oct 8, 2018 4:47am
Don't feel very well. See ya guys tomorrow.

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@trader_umr
  • #90
  • Oct 9, 2018 5:53am Oct 9, 2018 5:53am
It is time to take my leave and come back tomorrow with fresh mind.


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@trader_umr
  • #91
  • Oct 10, 2018 7:25am Oct 10, 2018 7:25am
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@trader_umr
  • #92
  • Oct 10, 2018 8:28am Oct 10, 2018 8:28am
Quoting traderumr
{image}
Not that i am any better,but i belive you are overtrading a bit over 500 trades in 9 ore 10 trading days i just cant belive that you have that many good signals that are worth taking I would if i can say that be more picky with my trades and try too add someting too filter out the bad ones....Even the best and busiest scalpers dont take more than 100-150 trades pr week...
You win some you loose some do both with peace of mind
  • #93
  • Oct 10, 2018 6:05pm Oct 10, 2018 6:05pm
Yep. I agree.
@trader_umr
  • #94
  • Oct 11, 2018 6:59am Oct 11, 2018 6:59am
12 Oct, 2018
Grade: D
Result : -1.5%
Short Comments: Same mistakes as before. Only one day more before discretion is taken away and I fall back to systemic methods.
@trader_umr
  • #95
  • Oct 12, 2018 9:40am Oct 12, 2018 9:40am
Quoting traderumr
12 Oct, 2018 Grade: D Result : -1.5% Short Comments: Same mistakes as before. Only one day more before discretion is taken away and I fall back to systemic methods.
You won 19 of 20 last trades you are on the right path my friend be more selective in opening trades....And Moneyzilla how doo you cope with drawdowns like this i would piss my pants being down 8000 from being in profit a day ore two ago....I am not critisizing your trading i am just impressed how you cope with this JO-JO trading....LOL
You win some you loose some do both with peace of mind
  • #96
  • Oct 12, 2018 10:25am Oct 12, 2018 10:25am
You guys both look like you are trend traders judging by your graphs.
As for self grading, ouch. A D for yourself? That's gotta hurt the ole self esteem. How about a beer or icecream cone or pizza for your effeorts from you to you?
  • #97
  • Oct 12, 2018 1:07pm Oct 12, 2018 1:07pm
Quoting OFtrader
{quote} 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.
what a load of tosh - your accounts are 200:1 but lets be honest they aren't your accounts are they. The history you are referring to is to attract more clients. You should be registered in the commercial section of the site and not as a standard member. Does your clients know your accounts are open for all to see on the net?

https://www.forexfactory.com/showthread.php?p=11577542#post11577542
  • #98
  • Oct 12, 2018 4:46pm Oct 12, 2018 4:46pm
Quoting magne999
{quote} You won 19 of 20 last trades you are on the right path my friend be more selective in opening trades....And Moneyzilla how doo you cope with drawdowns like this i would piss my pants being down 8000 from being in profit a day ore two ago....I am not critisizing your trading i am just impressed how you cope with this JO-JO trading....LOL
Yes, Actually one trade for me is not one idea.
One trading idea can generate many trades.
If I want to go long AUDUSD. I am going to keep trading in that direction with multiple trades, that is also why my # of trades is high in addition to simple over-trading I have done so far.

Quoting OutThere
You guys both look like you are trend traders judging by your graphs. As for self grading, ouch. A D for yourself? That's gotta hurt the ole self esteem. How about a beer or ice cream cone or pizza for your efforts from you to you?
I personally wouldn't call my self long term trend trader. But I reckon you can say that I am short term trader who tries to hook into a intra day trend. That might be right.
With grades I am just trying to be honest and this grading is taking in to account how I am able to trade on non-public accounts. I have not really trading well at all on this competition account
But don't worry, I am extremely resilient and stubborn. Now that I have decided to be able to trade publicly. I will do my very best to be successful at it.
You suggestion is also spot on. Despite bad trading, I attempt to take each day separately. Ideally each day is a new day for day traders, yesterday's performance shouldn't be taken to heat ... good or bad!
@trader_umr
  • #99
  • Oct 14, 2018 5:32pm Oct 14, 2018 5:32pm
@MoneyZilla

Mate, you are very heavy on XAU short.
You are either going to just win this if price retraces
Or lose over 50% if price continues higher this week

Best of luck with the trade.
@trader_umr
  • #100
  • Oct 14, 2018 6:03pm Oct 14, 2018 6:03pm
I expect to win this competition with my demo account.
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