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Forex Profit... Im sorry but... (10% per month?) 114 replies

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  • #201
  • Feb 1, 2019 9:22pm Feb 1, 2019 9:22pm
Quoting kenshin
Here's one of my live accounts which is running for nearly 4 years now: Deposit $23,675 Withdrawal $31,775 Current Balance $16,786 Yes, I know I took a loss on this account in September last year. Doesn't bother me, as it fits in with my backtest results. I am projected to be making new HWM by the middle of this year. I think it qualifies the criteria specified by OP. https://youtu.be/iJtJCbUFqxU

What happened in september if you don’t mind me asking.
LDFX Trading Ltd
  • #202
  • Feb 5, 2019 12:11am Feb 5, 2019 12:11am
Quoting wesleyaford8
{quote} I would agree with you that people should not fall for false success stories. I will on the other hand fully disagree with you saying you can not profit off of Forex. My Forex account was closed a little over 5 years ago when I unfortunately went to prison. Regardless where I was at, as a dedicated trader, do you think for one moment that I stopped educating myself and trading for that matter. When I was down, I had nothing but 20 years of data of Open, High, Low and Close numbers to go off of from multiple markets, including Forex, no computer,...
Could you run by me again why a pencil and graph paper are superior to computing power? Or have you been out long enough to walk back your previous statements?
If you are good at something, never do it for free--Joker
  • #203
  • Feb 5, 2019 2:39am Feb 5, 2019 2:39am
Quoting kenshin
Here's one of my live accounts which is running for nearly 4 years now: Deposit $23,675 Withdrawal $31,775 Current Balance $16,786 Yes, I know I took a loss on this account in September last year. Doesn't bother me, as it fits in with my backtest results. I am projected to be making new HWM by the middle of this year. I think it qualifies the criteria specified by OP. https://youtu.be/iJtJCbUFqxU
Thank you kindly for sharing the video.

I am amazed to see one account last so long, however, the most alarming is the fact that one trade gave you over a 45% drawdown, and not one of your winning trades or even winning moths happens to be 10% of your biggest lost. I would assume that is the reason why you created a youtube video instead of posting the link of your myfxbook account, because with only 60 seconds of access, one can tell how good your system is or not.
6ix9ine - Bebe
  • #204
  • Feb 5, 2019 4:54am Feb 5, 2019 4:54am
Quoting LDFX
{quote} What happened in september if you don’t mind me asking.
My system works on many small profits combined with extremely rare but large loss. Drawdown for the set of trades in September was getting out of control, so my system pulled the plug. That's the way it is designed. If it did not take the loss, then the drawdown would have continued and result in the loss of the entire balance. I have recovered nearly half of what was lost already. So, basically I make a lot of small steps forward, then take a big step backward. Generally I will triple or quadruple the balance before a loss, so it's not as bad as it looks. Not saying that what I do is recommended, but it works fine for me.
  • #205
  • Edited 6:14am Feb 5, 2019 5:14am | Edited 6:14am
Quoting 6ix9ine
{quote} Thank you kindly for sharing the video.
No problem.
Quoting 6ix9ine
{quote} I am amazed to see one account last so long, however, the most alarming is the fact that one trade gave you over a 45% drawdown
The drawdown in September was 41.5%, not over 45% as you have stated i.e the account was at $23,318 before the loss, and then $13,633 after the loss. It now stands at $17,441, so I am currently 25% below my previous high. The 41.5% drawdown was the result of multiple trades going against me too, not just one.
Quoting 6ix9ine
{quote}and not one of your winning trades or even winning moths happens to be 10% of your biggest lost.
10% of 41.5% is 4.15%, and looking back on at the myfxbook account I can count 14 months where I made more than 4.15% on each month. Hell, on 2 of them months I made 7% each month.
Quoting 6ix9ine
{quote} I would assume that is the reason why you created a youtube video instead of posting the link of your myfxbook account, because with only 60 seconds of access, one can tell how good your system is or not.
The only proof I am posting is for you to see that an account can last (and be in profit) for more than three years. The video does that fine. The topic of how good (or bad) my system performs is not relevant to the original question. If it was, then I would never have posted anything.
  • #206
  • Feb 6, 2019 1:24am Feb 6, 2019 1:24am
in Forex trading profit ratio depends on regular practice , there is no ending of learning in here , so no way to stop learning or practicing in spite of passing a long time.
  • #207
  • Feb 6, 2019 11:44pm Feb 6, 2019 11:44pm
Quoting 6ix9ine
{quote} Thank you kindly for sharing the video. I am amazed to see one account last so long, however, the most alarming is the fact that one trade gave you over a 45% drawdown, and not one of your winning trades or even winning moths happens to be 10% of your biggest lost. I would assume that is the reason why you created a youtube video instead of posting the link of your myfxbook account, because with only 60 seconds of access, one can tell how good your system is or not.
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  • #208
  • Feb 7, 2019 10:24am Feb 7, 2019 10:24am
Quoting jmn5611
{quote} Could you run by me again why a pencil and graph paper are superior to computing power? Or have you been out long enough to walk back your previous statements?
Sorry for the delay in my response Jmn5611. First I would like to point out that I had never said that pencil and graph paper are superior to a computer, nor did I say I used graph paper, I only used numbers and no graphs because they were pointless in my position, and ill explain why in a minute. The power of a computer is exactly what traders like us need in the modern times, but I will say there is a caveat and I say this because I've used both processes for trading; as I'm sure that most if not all traders, especially technical traders, know that the more data that we use the more probabilities we have on our trades to becoming successful, right? Using a computer is definitely a convenience, which is something I'm using now that I'm out, but understand that when a trader sits down with a paper and pencil going through years worth of data, it allows a different prospective for the trader to see on what is going on day for day.

For example, I just had a beginner ask me the other day to that similar to your question. What I told him was, all I had were daily OHLC prices to go by, the difficult part in my position was that I couldn't see what was going on throughout the day, everything in between the HL for the day as it was happening. If I used a graph paper, naturally it would only show the OHLC which is no different than what I already have just in number form, so to me it was pointless and a waist of time for that matter. My system requires my trade to be in and out before the close, so this was a very difficult thing to do since I was blind and on top of that, Stop Loss protection was practically none existent.

What I have found, and as weird as it may sound, pencil and paper has allowed me to grow in experience but most importantly, it allowed me to have confidence in my trades even more now than ever. Reason for this im sure, is because of the time and energy that I put into building my system without the use of a computer and without the noise of daily transactions you will find on charts. Ultimately, I feel when it comes down to it, traders have two options when it comes to technical trading, which is that of the old way and the new way of trading (pencil vs. computer for example). So, for the sake of the title of this thread, ill make this statement, if we have two ways of trading, as I just explained, and if you are failing at one but not try the other and just stopped, then I would say the trader failed, not the market.

In conclusion, in actuality there are many styles of trading, but just like technical traders needing large amounts of data, a trader can only grow if they decide to step outside of their comfort zone and try something new.
  • #209
  • Feb 11, 2019 9:12am Feb 11, 2019 9:12am
Quoting kenshin
{quote} My system works on many small profits combined with extremely rare but large loss. Drawdown for the set of trades in September was getting out of control, so my system pulled the plug. That's the way it is designed. If it did not take the loss, then the drawdown would have continued and result in the loss of the entire balance. I have recovered nearly half of what was lost already. So, basically I make a lot of small steps forward, then take a big step backward. Generally I will triple or quadruple the balance before a loss, so it's not...

Sounds so awfull.

40% drawdown is a catastrophe.
LDFX Trading Ltd
  • #210
  • Feb 11, 2019 5:54pm Feb 11, 2019 5:54pm
Quoting LDFX
{quote} Sounds so awfull. 40% drawdown is a catastrophe.
If you want to be seeing a real catastrophe, then look at the fact that there are so few traders here who have actually completed the challenge of this thread. Something to think about...

My account is not even close to a catastrophe unless you want to purposely obsess over the 40% drawdown while deliberately ignoring the other facts about the account. So let's briefly visit them other facts yet again. I'll tell you that the 250% profit I made prior to that drawdown is absolutely fantastic, as is the fact that the 40% drawdown is down to 25% now. Equally incredible is the fact that the account trades purely on profit funds as well, as I have already withdrawn my original deposit, as well as another $8000. Amazingly, the account is always in profit for it's entire life. In fact this account completes the challenge at all times after the three year mark. It completes the challenge before the drawdown, and after the drawdown.

To be fair, it did piss me off a bit to lose 40%. I am quite happy, however, to lose 40% after making 250%. In fact, I'll do that all the time if possible.

The catastrophe:

  1. Balance = $100
  2. 40% drawdown = -$40
  3. Result = $60


The reality:

  1. Balance = $100
  2. 250% profit = +$250
  3. Result = $350
  4. 40% drawdown = -$140
  5. Result = $210
  6. 25% Profit = +$52.50
  7. Result $262


I've simplified it a bit, but I hope you can see the difference?

This will be my final response in this thread regarding details of this account or it's performance. It is not the topic of discussion here. I will remind that the OP requirements are a live account that's in profit and more than three years old. My video satisfies all of them requirements. It's enough from me already, keep on topic, and post your own evidence that completes the challenge.

  • #211
  • Feb 12, 2019 10:10am Feb 12, 2019 10:10am
Quoting kenshin
{quote} {image} {image} {image}
Hey Kenshin

You kill me with the batman picture, ahahah !
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #212
  • Feb 14, 2019 5:32am Feb 14, 2019 5:32am
Quoting Hyperfire
{quote} Hey Kenshin You kill me with the batman picture, ahahah !
That was hilarious. Glad you could get a laugh from that bat bitch-slap. I definitely couldn't resist the urge to capitalize on the irony in the ridiculous situation.
  • #213
  • Edited 10:48am Feb 18, 2019 10:29am | Edited 10:48am
Quoting kenshin
{quote} If you want to be seeing a real catastrophe, then look at the fact that there are so few traders here who have actually completed the challenge of this thread. Something to think about... My account is not even close to a catastrophe unless you want to purposely obsess over the 40% drawdown while deliberately ignoring the other facts about the account. So let's briefly visit them other facts yet again. I'll tell you that the 250% profit I made prior to that drawdown is absolutely fantastic, as is the fact that the 40% drawdown is down to...
Exactly dude,

40% is a catastrophe.

It does not matter how high you went but with what risk you did it, so 40% drawdown is a catastrophe.

Your profit doesn’t matter, only the profit factor / sharpe ratio does, anyone can make millions by taking risk.

If you do not have fully understood the risk factor then your are still a long way from being a professional trader.

I do repeat, 40% drawdown is catastrophic !
LDFX Trading Ltd
  • #214
  • Feb 18, 2019 1:33pm Feb 18, 2019 1:33pm
Quoting LDFX
{quote} Sounds so awfull. 40% drawdown is a catastrophe.
what if you constantly go down to 40% but always seem to close st around 40% profit. Being as the riskn to reward is almost 1:1 excluding that the risk is high because you are willing to risk 40% on any an estimation{s)
To shag or not to shag that is the question. #Me
  • #215
  • Edited 6:42pm Feb 18, 2019 3:44pm | Edited 6:42pm
Quoting LDFX
{quote} Exactly dude, 40% is a catastrophe. It does not matter how high you went but with what risk you did it, so 40% drawdown is a catastrophe. Your profit doesn’t matter, only the profit factor / sharpe ratio does, anyone can make millions by taking risk. If you do not have fully understood the risk factor then your are still a long way from being a professional trader. I do repeat, 40% drawdown is catastrophic !
You're assuming I risked 40% before I made 250%? As I profit, I will scale my deposit and scale my risk, to a limit. Or were you thinking I have risked 40% the moment I made my deposit? Do you think I'm risking 40% at all times? Do you think I put my entire deposit in at once? Do you also think that this is my only LIVE account? Fact is, dude, you know very little about the account. That's why I used the video method, so I can control precisely what is revealed to you and what isn't.

Quoting LDFX
{quote} anyone can make millions by taking risk.
There goes any credibility you had. Perhaps you can show us all how it's done, and come back in three years when you've actually passed the test, LIVE. You should have millions. After all anyone can do it, right? Pony up some real cash, and put your money where your mouth is, or are those millions you're talking about the same as them virtual millions that my grandma wins while playing the pokies on her computer all day.

Now, here's the real funny bit. You have a 9 month DEMO account and you're trying to give me trading risk advice on my 5 year LIVE account. Is there any evidence that you have taken any risk at all? No. As they say, all hat, no cattle.

Quoting LDFX
{quote} Your profit doesn’t matter
Uh, no. Actually, the opposite is true. It's your profit that doesn't matter, as it's only DEMO profit and has no value in reality. My profit does matter, as I can and have used it in the real world to pay for goods and services. A significant difference, wouldn't you agree? This is one of the ways that your DEMO trading has skewed your perception of reality.

You're stressing about my drawdown much more than I did. My account is a success, and it continues to be a success for a long time now, perhaps the big interest from you is because that success annoys you? A big clue...it matters so much to you, but not at all to me. You are welcome to try and minimize my success all you want if it will help you to justify your own lack of success. Just so you know though, it doesn't change anything at all for me.

Ah yes, my absolutely cataclysmic devastating catastrophic 40% drawdown, lol. By god, it was such a catastrophe. How could I ever hope to recover from such a soul destroying loss? I mean, ffs, it truly looked like I was completely ruined. But no!!! By some miraculous good fortune, my drawdown has now receded to less than 25%, and will be making new highs around the middle of this year. I'm hoping you can be around to discuss it with me again then.

Two simple facts will clearly explain everything that needs to be known:
1)My LIVE account is doing perfectly fine for almost 5 years now.
2)Your LIVE account is where???

And yes, I'll be looking forward to reading your litany of excuses on why fact number 2 holds true.

I have live profitable trading experience for many years now. I look over, and in the meantime, you're doing what??? You'll be needing to change that if you want any possibility for someone like me to be able take you seriously. I have zero interest in jealous trolling veiled as "trading advice" from failed live or demo queen wannabe's.
  • #216
  • Feb 18, 2019 4:03pm Feb 18, 2019 4:03pm
Quoting ShagLater
{quote} what if you constantly go down to 40% but always seem to close st around 40% profit. Being as the riskn to reward is almost 1:1 excluding that the risk is high because you are willing to risk 40% on any an estimation{s)
Even new member gets it.
  • #217
  • Feb 18, 2019 6:08pm Feb 18, 2019 6:08pm
Of course I agree that we should always strive to have the lowest drawdown possible, but there’re so many fixed written in stone “forex statements” that are passed around in the community thousands of times, which I think doesn’t mean anything without context. People just repeat them.

Drawdown should be less than 5%! Ideally should be 3 or less, that's how the pros do it!

Really? So if you want a 5% drawdown at all times, why the hell is all that equity in unused margin sitting there anyway? Doing nothing? So basically you want satisfactory returns while not risking anything?

There are so many other questions and contexts.

What if the 40% catastrophe drawdown account made 1 million dollars in profit within a couple years out of small initial investment? Is it still bad to have that drawdown? Would you still prefer the 5% drawdown account that made 10% return within the same period?

We can’t isolate one parameter and make a conclusion based only on that. It’s the sum of all things.
  • #218
  • Feb 18, 2019 6:20pm Feb 18, 2019 6:20pm
The whole talk of 40% DD is such a bad thing by LDFX is to raise his own status that he is so great at trading that 40% DD is unacceptable to him. A bunch of self promoting empty hui coming from someone who doesn't know what he is talking about. Just ignore him and carry on.
  • #219
  • Feb 19, 2019 2:50am Feb 19, 2019 2:50am
Quoting kenshin
{quote} Even new member gets it.
I can relate because i scalp within a 12 pip range. Th is range allows me to trade up to around 4.5% per pip if I decide to. I see no need to have profit in long term when you can focus on short term goals.
To shag or not to shag that is the question. #Me
  • #220
  • Feb 19, 2019 9:01pm Feb 19, 2019 9:01pm
Quoting ShagLater
{quote} I can relate because i scalp within a 12 pip range. Th is range allows me to trade up to around 4.5% per pip if I decide to. I see no need to have profit in long term when you can focus on short term goals.
12 pips range? Then what about the SL? & what’s your risk reward ratio?
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