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96% Win Rate!

  • #81
  • Feb 27, 2019 10:45am Feb 27, 2019 10:45am
Quoting Pro.yingYang
Only time will tell. No matter how many good advice People share. Some times one need to fall inorder To stand up strong. I fail to become better. Every failure will make me counter think. There are some valuable experience key sentence If you can spot it. All the best...
Take it positively and keep learning. That's the way to succeed. What can you learn from these drawdown. It's a really good thing it happen on demo before you really put in real money on the line. Everyone know what is going to happen sooner or later because we all been through it. It's hard to believe because you manage to fight your way through untill now.
If it is leverage of 1:50. You probably won't be able to fight. Why not try your strategy on price range. Survival rate is higher. Question is how to spot it. Let's say the price return to your breakeven point after 2 or 4 months. Closed it? Or add to it? Wouldn't it be better trying to make better profit during these months.
10%drawndown on real money is enough to make me sick.
Best regards,
Yy
  • #82
  • Feb 27, 2019 11:00am Feb 27, 2019 11:00am
I think you are out of your depth with this approach to the market. Show me 1 professional trader that has done something similar over a long period. You might be trying to convince yourself that you are only prepared to take drawdown for equal profit. Well a 50 percent drawdown reversed is the same as making a 100 percent on the position to achieve your goal. Its unrealistic and in time you will realise that while you seemingly manage to survive these incidents, over the long haul you won't end up profitable. If you started accepting lossed your worst case here could have been a 5 to 10 percent hit that could could make back a hell of a lot faster than sitting on this. Imagine if rollover was against you heavily then you would be taking a double dose of reality.

Sorry but you just don't seem to have an appropriate trading plan just a signal to enter then hold until things goes your way. If major news hit the wires on brexit you'd have your demo account completely wiped and a live account much much sooner.

Take it as a lesson learned and start applying sensible money management strategies and don't be afraid to take a loss as you can always make a small loss back but unlikely to make a large loss back.

Ask yourself this. If you were an investor would you invest in you.
  • #83
  • Feb 27, 2019 11:02am Feb 27, 2019 11:02am
To anyone reading this and you just came staight to page 5. An important post of mine got buried on page 4. Go read it. Thanks
  • #84
  • Feb 27, 2019 11:12am Feb 27, 2019 11:12am
Quoting EcoTrader
I think you are out of your depth with this approach to the market. Show me 1 professional trader that ha making a 100 percent on the position to achieve your goal. Its unrealistic and in time you will realise that while you seemingly manage to survive these incidents, over the long haul you won't end up profitable. If you started accepting lossed your worst case here could have been a 5 to 10 percent hit that could could make back a hell of a lot faster than sitting on this. Imagine if rollover was against you heavily then you would be taking a double dose of reality. Sorry but you just don't seem to have an appropriate trading plan just a signal to enter then hold until things goes your way. If major news hit the wires on brexit you'd have your demo account completely wiped and a live account much much sooner.


I agree 90% on everything you said. But just to make it clear, my priority right now is to save myself and the account. I’m not implying that I’ll do that over and over again in the future. This drawdown and all those trades were simply wrong. Period. And I recognize what I’m doing right now is highly counter productive. But that’s what it takes to fix a problem.

So I’m gonna recover now, and then apply modifications so that won’t happen again. In fact I’m already applying those modifications on the fly right now in this recovery. Notice how I’m opening longs now as well.

I have more to say about all of this. I’ll do it later, I’m focusing on technical analysis and trading right now.
  • #85
  • Feb 27, 2019 11:13am Feb 27, 2019 11:13am
Quoting EcoTrader
Show me 1 professional trader that has done something similar over a long period.
As far as I can see, this person seems to be doing a similar thing, on a large real (!) account.
I am actually quite curiously following the outcomes of these two explorers. Not my style, but I find it fascinating.

Cheers,
k
  • #86
  • Feb 27, 2019 11:23am Feb 27, 2019 11:23am
Quoting kprsa
{quote} As far as I can see, this person seems to be doing a similar thing, on a large real (!) account. I am actually quite curiously following the outcomes of these two explorers. Not my style, but I find it fascinating. Cheers, k
Oh dear its all gone horribly wrong for this guy too. This chart says it all
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  • #87
  • Feb 27, 2019 11:27am Feb 27, 2019 11:27am
Quoting kprsa
{quote} As far as I can see, this person seems to be doing a similar thing, on a large real (!) account. I am actually quite curiously following the outcomes of these two explorers. Not my style, but I find it fascinating. Cheers, k

Aus is in a terrible economic state at the moment he will be paying rollover with his losses too
  • #88
  • Feb 27, 2019 11:46am Feb 27, 2019 11:46am
Second loser eliminated.

$200 profit. For -$174 loss.

8 more to go
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  • #89
  • Feb 27, 2019 11:58am Feb 27, 2019 11:58am
I just had this brilliant idea.

I’ll name which one of the loser positions on my account, a hater that comes to this thread. So I can eliminate all my enemies in front of everybody. Live. For everybody to see it, and prove my trading abilities of recovery and profit.

So the next one on the list is 145.985.

A.k.a... profitfarmer

You’re next!
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  • #90
  • Feb 27, 2019 1:34pm Feb 27, 2019 1:34pm
Quoting Rapha
I just had this brilliant idea. I’ll name which one of the loser positions on my account, a hater that comes to this thread. So I can eliminate all my enemies in front of everybody. Live. For everybody to see it, and prove my trading abilities of recovery and profit. So the next one on the list is 145.985. A.k.a... profitfarmer You’re next! {image} {image}
Kid, your charming personality will almost certainly get you banned (note that every high ranking member can suspend you temporarily) as your post can easily be interpreted as a threat.
Tread carefully.
(I suggest deleting your post, in which case I will delete mine.)
k
  • #91
  • Feb 27, 2019 1:43pm Feb 27, 2019 1:43pm
Quoting kprsa
{quote} Kid, your charming personality will almost certainly get you banned (note that every high ranking member can suspend you temporarily) as your post can easily be interpreted as a threat. Tread carefully. (I suggest deleting your post, in which case I will delete mine.) k
It’s a joke. Relax
  • #92
  • Feb 27, 2019 1:46pm Feb 27, 2019 1:46pm
Quoting kprsa
{quote} Kid, your charming personality will almost certainly get you banned (note that every high ranking member can suspend you temporarily) as your post can easily be interpreted as a threat. Tread carefully. (I suggest deleting your post, in which case I will delete mine.) k
i wont suspend this kid, for sure,
it is enough punishment for him to be just blind, and never bother to read any of my post with some serious thought to it.
hater? far from it!
but then, as O'Leary used to say: " you are dead to me!"
one day you will grow up, re-read those posts, and maybe, just maybe, you will be mature enough to understand them, too.
bye!
there is always, always another trade!!
  • #93
  • Feb 27, 2019 1:49pm Feb 27, 2019 1:49pm
Quoting profitfarmer
{quote} i wont suspend this kid, for sure,
Thank you profitfarmer!

for having thick skin and not being too sensitive.
  • #94
  • Feb 27, 2019 6:40pm Feb 27, 2019 6:40pm
Quoting EcoTrader
{quote} Aus is in a terrible economic state at the moment he will be paying rollover with his losses too
You right i am paying for it at the moment but keep in mind I have been doing this for 3 years and have made well over 100K doing so. Just because its an unorthodox way of trading doesn't mean it can't work. Time will tell though.
  • #95
  • Feb 28, 2019 3:34pm Feb 28, 2019 3:34pm
I couldn’t do much today. Not as many opportunities as yesterday. I’ve only made about $150 profit, which is not enough to close the smallest losing position so things are still the same.

I’m looking forward to end this nightmare.
  • #96
  • Mar 1, 2019 1:19am Mar 1, 2019 1:19am
Quoting Rapha
I couldn’t do much today. Not as many opportunities as yesterday. I’ve only made about $150 profit, which is not enough to close the smallest losing position so things are still the same. I’m looking forward to end this nightmare.
I assume you need to buy bigger lot for eurjpy to save the
Last position. If it retrace back.. You be stuck with bigger loss... Am i right with your recovery method?
  • #97
  • Mar 1, 2019 5:36am Mar 1, 2019 5:36am
Closed another one. Made over $400 profit to sacrifice that.

7 more to go
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  • #98
  • Mar 1, 2019 6:00am Mar 1, 2019 6:00am
Quoting Pro.yingYang
{quote} I assume you need to buy bigger lot for eurjpy to save the Last position. If it retrace back.. You be stuck with bigger loss... Am i right with your recovery method?


I’m not sure if I understood you correctly. But basically what I’m doing now is, I’m taking the loss gradually while making some profit just so the transition is more smooth. Instead of taking one big 5k loss at once, and have that emotional impact of loss, which is very demotivating, I decided to let everything open and trade on the top of it. This somehow pushes me to trade faster and better because of the sense of urgency. I wouldn’t call this a recovery, because I’m actually taking the loss. I think a recovery would be if the whole drawdown had turned back to profit or break even on its own. I prefer to call this, ‘I’m getting back on track, and better’.
  • #99
  • Mar 1, 2019 3:46pm Mar 1, 2019 3:46pm
Closed one more just in time before the end of Friday.

6 more to go

The name of this game is ‘Don’t let the balance drop below 12k’

The rule is simple. You can only take a loss if you make some profit first

Notice how I’ve added a long position to the list of drawdown
That trade was opened due to stupidity. Don’t let my winning streaks and profit making abilities fool you into thinking that I’m perfect. I can be stupid too.

So, as long as GJ doesn’t open with a big gap up on Sunday, I should be able to clean up everything by next week.
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  • #100
  • Mar 4, 2019 1:38am Mar 4, 2019 1:38am
Quoting Rapha
Closed one more just in time before the end of Friday. 6 more to go The name of this game is ‘Don’t let the balance drop below 12k’ The rule is simple. You can only take a loss if you make some profit first Notice how I’ve added a long position to the list of drawdown That trade was opened due to stupidity. Don’t let my winning streaks and profit making abilities fool you into thinking that I’m perfect. I can be stupid too. So, as long as GJ doesn’t open with a big gap up on Sunday, I should be able to clean up everything...

This week speculation on brexit delay will strengthen the pound and next week is the meaningful vote that if passed, will make sterling rally a few hundred pips. You best get onto fixing the demo losses ASAP else you might have to say goodbye to the account.
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