Indeed, he's a good trader {quote}
there is always, always another trade!!
- Post #1,041
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- Feb 28, 2019 11:30pm Feb 28, 2019 11:30pm
- | Commercial Member | Joined Aug 2014 | 3,820 Posts
- Post #1,042
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- Mar 1, 2019 2:24am Mar 1, 2019 2:24am
- | Joined Jun 2018 | Status: Member | 34 Posts
- Post #1,043
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- Mar 1, 2019 8:22am Mar 1, 2019 8:22am
- | Commercial Member | Joined Aug 2014 | 3,820 Posts
Hi pf, Out of curiosity, you start off with what lot size? Regards, Yy
my starting position would be really dependent to the equity.
but it is small. just about a scout size.
either makes small profit, or not at all painful if i am early some...and i can be early, it is usually the border of my expected 'zone of interest'.
if you need a more exact scaling, it is approx 0.02 lot/1000$. actually somewhat less, but there is no 0.015 lot size to place so that would be a meaningless number.
happy weekend!
there is always, always another trade!!
- Post #1,044
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- Mar 22, 2019 9:15am Mar 22, 2019 9:15am
- | Commercial Member | Joined Aug 2014 | 3,820 Posts
a small update for the weekend.
actually a long weekend, extending it to 5 days, i think.
trading is good, but it is very easy to get carried away with it, to a level where it is near obsession.
i find it works better for me if i try to keep a more balanced life, and periodically take a few days away from trading, charts, and all.
trading/scalping with a trigger ( or 2) and equity SL is still a workable approach. the human side of emotions need to be controlled, but also due the equity SL it is somewhat less likely to get into a level where it wreck havoc on the trader's emotion, and cause to override the rules.
could say, the only real weakness of the approach is the trader, really.
something everyone can work on, depend on the individual's habits, more work or less work needed.
there is only one other thing to keep in mind, but an important one: trade small!
whatever your number that you think it is small enough, probably benefit from cutting even that number, often by multiples!
it is very tempting to go for huge daily returns, but a lot less stressful and more sustainable to take whatever comes, and focus the effort to make profit consistently.
the occasional stops cant or wont hurt too badly.
i am still working on the consistency myself, now just about ending the 4th calendar month of no loss day.
with the breaks here and there, it is 57 consecutive trading day.
it really isnt much to it, more a personal thing, still trying to beat my own best of 60 days...now just around the corner.
if all is well, shall see that goal completed the first week of April. wish me luck guys!
happy weekend!
actually a long weekend, extending it to 5 days, i think.
trading is good, but it is very easy to get carried away with it, to a level where it is near obsession.
i find it works better for me if i try to keep a more balanced life, and periodically take a few days away from trading, charts, and all.
trading/scalping with a trigger ( or 2) and equity SL is still a workable approach. the human side of emotions need to be controlled, but also due the equity SL it is somewhat less likely to get into a level where it wreck havoc on the trader's emotion, and cause to override the rules.
could say, the only real weakness of the approach is the trader, really.
something everyone can work on, depend on the individual's habits, more work or less work needed.
there is only one other thing to keep in mind, but an important one: trade small!
whatever your number that you think it is small enough, probably benefit from cutting even that number, often by multiples!
it is very tempting to go for huge daily returns, but a lot less stressful and more sustainable to take whatever comes, and focus the effort to make profit consistently.
the occasional stops cant or wont hurt too badly.
i am still working on the consistency myself, now just about ending the 4th calendar month of no loss day.
with the breaks here and there, it is 57 consecutive trading day.
it really isnt much to it, more a personal thing, still trying to beat my own best of 60 days...now just around the corner.
if all is well, shall see that goal completed the first week of April. wish me luck guys!
happy weekend!
there is always, always another trade!!
- Post #1,045
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- Mar 22, 2019 10:16am Mar 22, 2019 10:16am
- Joined Jul 2011 | Status: Member | 1,035 Posts
- Post #1,046
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- Mar 22, 2019 11:22am Mar 22, 2019 11:22am
- Joined Jun 2006 | Status: Do NOT tilt | 5,708 Posts
Working towards CME membership
- Post #1,048
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- Mar 27, 2019 9:24am Mar 27, 2019 9:24am
- | Commercial Member | Joined Aug 2014 | 3,820 Posts
{quote} damn man. im struggling to get 10 days straight lol so what happened in that december day that screams "hey look at me! i'm taller than everybody else!".. is that one of those averaging down moves ? or your target was waaaaay out on small position?
i stopped to care much in Oct-Nov, and was still trading lightly in December. ( the year ended in a loss, though moderate on my prop account)
with January, it felt like not only a new year, but a new start, finally be able to sweep the dark thoughts away ( at least to focus on trading fully when it is trading time).
started with some losses, by mistake put an EA what i was backtesting on live, and caused some losses before i could get all out....then recovered it, then made some profit, then i started to enjoy myself, and thought, wtf, lets for once roll with the profit and not call it a day just yet.
it was a day that suited my style. had one great day.
however not looking to push my luck every day that hard, the focus is on smaller swings, (up or down), and a smoother curve/profit distribution.
i think that is obvious
it is always a work in progress.
PS. i am back from the long weekend break, and working on day#58...so far it is green.
{quote} Hello Profitfarmer, Very impressive results you have there. It's good that you reflect on your strengths and weaknesses. You seem to know exactly what challenges you face and struggle with. I hope you beat your personal record. {quote} Hilmy, I just wanted to mention how much I enjoyed your expression. I thought it was creative and hilarious!
thank you! yes, i know by now mostly where i am good, and where i could improve. but knowing and doing is not the same; it is a work toward a goal, and fighting the demons along the journey.
the record is around the corner, so i am also thinking already a while what should be next?
1 day a time to push out is not a far enough goal post, and feels less a challenge.
but i like progressive, though visible goals...so, if, or rather when i reach 60 consecutive winning trading days, i think the target will jump to 5 months without a loss.
( for reference, today it is 4 months 1 day time; not every weekday was a trading day for me, see xmas, or current long weekend, etc.).
i have seen you started a journal too, will sure have a look and read it, now that i am back to my PC.
best of luck going forward!
there is always, always another trade!!
- Post #1,049
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- Edited at 10:20am Mar 29, 2019 8:12am | Edited at 10:20am
- | Commercial Member | Joined Aug 2014 | 3,820 Posts
looooong work, but i just get it done!!
and i know it is not meaning anything for others really, but mean a lot to me...
60 days consecutive wins, that took a bit over 4 calendar months to do!
it is now matched my personal best.
for now, i just push the goal post to 5 calendar months, will see what happens. but the real target should be the 6 months mark to aim for!
if the approach thought out well enough + no human error (tilt, or style drifting) there can be some pretty amazing results.
i left in the corresponding daily dd from myfxbook....just for the inquiring minds who think it is achieved by holding losing trades on. it is daytrading!
i feel happy to prove to myself that i can do this still! A day i like to remember; a goal achieved, a job well done.
happy weekend!
and i know it is not meaning anything for others really, but mean a lot to me...
60 days consecutive wins, that took a bit over 4 calendar months to do!
it is now matched my personal best.
for now, i just push the goal post to 5 calendar months, will see what happens. but the real target should be the 6 months mark to aim for!
if the approach thought out well enough + no human error (tilt, or style drifting) there can be some pretty amazing results.
i left in the corresponding daily dd from myfxbook....just for the inquiring minds who think it is achieved by holding losing trades on. it is daytrading!
i feel happy to prove to myself that i can do this still! A day i like to remember; a goal achieved, a job well done.
happy weekend!
there is always, always another trade!!
- Post #1,050
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- Mar 29, 2019 8:37am Mar 29, 2019 8:37am
looooong work, but i just get it done!! and i know it is not meaning anything for others really, but mean a lot to me... 60 days consecutive wins, that took a bit over 4 calendar months to do! it is now matched my personal best. for now, i just push the goal post to 5 calendar months, will see what happens. but the real target should be the 6 months mark to aim for! if the approach thought out well enough + no human error (tilt, or style drifting) there can be some pretty amazing results. i left in the corresponding daily dd from myfxbook....just...
have a great weekend!!
- Post #1,053
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- Mar 29, 2019 10:18am Mar 29, 2019 10:18am
- Joined Jul 2011 | Status: Member | 1,035 Posts
- Post #1,054
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- Mar 29, 2019 10:59am Mar 29, 2019 10:59am
- | Commercial Member | Joined Aug 2014 | 3,820 Posts
Hi profitfarmer, Dont mind me asking have you join the psyquation before. I do have a few question and hope you can help or advice. I asked them that if I deposit or withdraw money from the account. Is it going to affect the score. The answer from them is no. How can that me when the dd and equity varies is depend on the balance. I started this month on March and after 29 trade. I got a score of 59. I thought my dd was very low. My score should be better. Do you started with low score and then as you trade along for a few month. The score will increase...
the deposits and withdrawals arent effect the score. i have both of those on my account, seems to leave my %ages mostly intact. however sometimes updates of the page is slow, and can be off with few broker accounts, have had a share of those myself.
the account's age does however have effect on score, also things like W%, etc.
the behaviour score part is easy to lose points with grid, martingale, 'value at risk' or in case you are a scalper even with the 'duration less than 40 sec'.
the score will improve in time, if you are doing not many of those things that trigger a warning, and if you 'accept' and 'fix' the warnings that help, too.
to answer, yes, i started with a low score, and then trada for about 1 year i had the top score there most of the time. the current one isnt that good, thanks to last year mainly, but it is improving slowly.
overall, your target should be 70+.
{quote} my opinion; is psyquation is crap; and their ceo keep sending spam emails about his personal trips to latin america; and how his son is doing well in taekwando. I asked him to stop sending me these emails; as they are not related to the site; but he kept sending them. Recently he went dancing with his wife. now why would you tell psyquation users about your dancing trip with your wife; I have no idea. In short; they don't have a clue what they are doing.
but one can unsubscribe from it! i did too, no messages the last weeks...
about the rest,
i think it is a chance to anyone to make themselves visible.
it can lead to many other places.
it is free, cost really nothing to use but the 2 minutes to connect up an account. i would say why not then? there is nothing to lose!
there is always, always another trade!!
- Post #1,056
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- Mar 29, 2019 11:11pm Mar 29, 2019 11:11pm
- | Commercial Member | Joined Aug 2014 | 3,820 Posts
Thanks for the reply. I just giving it a try. It's free bonus money. So why not. Why I ask about deposit and withdraw because I transfer A small amount to one of my account just to try it out. So normally my main account combine floating risk is generally 2 to 4 %trade. However, since my account for psyquation is little. My var goes up to 9.2%. I got var alert and dca alert. So I feel that if I have more deposit over it. The same amount as my main account. That would be more realistic score. I ended march with 4%profit. My trading style are random....
the VaR in itself meaningless.
Psy is OK with anything, really, the alerts are statistically based. of course, only the high R:R single swing trades would be nice, but reality rarely like that in trading.
the duration alert for scalping is one like that; how a 34 sec trade i close in profit is bad? LOL
if under the 'Psy Journal' you set your goals to a little bit more loose, it can help not to get the VaR alert i think.
about the money.
yes, it is free money, and thought the profit share is not high, it is effectively mean like you double your equity and profit for yourself. say you have 10k acct, 4%, you make 400$ on your money, and if in Psy give you 50k where you get 1/5th of the 2k profit = +400$.
that is how i see it. and i know they pay out.
what is important, and want to reinforce it with any aspiring trader:
extra capital and profit can greatly boost the bottom line in the beginning.
BUT
the most important really is chance to put out yourself and be seen, known. there are better deals in the market, and it can serve as a jumping board to them.
personally i trade prop money for Axitrader ( owner of Psyquation), but after a while got a better deal offered, where my profit share is higher than 20%; better conditions, better deal. lets say they make the better end still, as a scalper i generate pretty high commissions, lol, but i can say it is mutually beneficial.
said before, keep doing a good job, and you will be surprise how many will take note, ppl i would never expect. there is a constant search for talent! and a good trader is not that common in reality, else they wouldnt take note of me as they had!
happy weekend!
PS. congrats for the March profit, 4% is good! i was lucky to close a a good month myself, too.
there is always, always another trade!!
- Post #1,057
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- Apr 11, 2019 11:36pm Apr 11, 2019 11:36pm
- | Commercial Member | Joined Aug 2014 | 3,820 Posts
Today is the beginning of the 5-days Songkran festival/ Thai New Year....
HAPPY NEW YEAR 2562!!
i am working hard toward the "Happy" part, but there are times when work can wait a little, and take a break.
it is as good an excuse as it gets to head upcountry for a couple days.
hack, probably buy a new water gun too!
my health was not good the last week, but still had a few little trades done, and the number currently stands at 68.
i am curious to see how long i can keep this streak, and same time dread how long a work it will take next time to come close again to this number.
but in the end, it is a fun personal challenge.
happy trading!
HAPPY NEW YEAR 2562!!
i am working hard toward the "Happy" part, but there are times when work can wait a little, and take a break.
it is as good an excuse as it gets to head upcountry for a couple days.
hack, probably buy a new water gun too!
my health was not good the last week, but still had a few little trades done, and the number currently stands at 68.
i am curious to see how long i can keep this streak, and same time dread how long a work it will take next time to come close again to this number.
but in the end, it is a fun personal challenge.
happy trading!
there is always, always another trade!!
- Post #1,058
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- Apr 30, 2019 12:00pm Apr 30, 2019 12:00pm
- | Commercial Member | Joined Aug 2014 | 3,820 Posts
hi all,
a small update, as the month of April is ending...
i am still trading, focusing hard to keep myself on the right track.
so far successfully, as passed the 5th calendar month or 76 straight winning trading days as of today.
for me, this is a huge step over my previous personal of 60 days, and i am very happy for this, and really curious to see how far will this continue.
the past month also started to trade together with George_AUS, and i can say we are having a very good time doing so.
however, why i may have adjusted some of my trading, it doesnt mean that what was outlined in the journal is not valid. it also isnt mean that it cant be improved upon on some aspects. he has waste market knowledge, but more importantly a genuinely nice guy. and bcos we both trade full time, that is lots of hours trading together.
but as i said, regarding this journal, i know couple guys who had good results trying out this approach, and i had great results myself too.
what to keep in mind, is the equity SL, and the max DD%. one is free to push the limits with entries, but the equity SL should be kept by all price! the only time that caused me damage ( and not just a dent) was when i ignored the equity SL, and did some revenge trades. a big big NO NO!
one hand dont over expand trade size, but it is OK to expand within the day IF there are profits closed already, to balance out running drawdown; the current drawdown then adjusted with the already closed profit can become a minuscule issue. in the end, for me it is about consistent winning days, and i think many others would agree that is a good target to shoot for.
the reason for the update really is to show that i can do it; and more importantly, that if i can do it, so could others, too!
set a goal, work toward it!
happy trading!
a small update, as the month of April is ending...
i am still trading, focusing hard to keep myself on the right track.
so far successfully, as passed the 5th calendar month or 76 straight winning trading days as of today.
for me, this is a huge step over my previous personal of 60 days, and i am very happy for this, and really curious to see how far will this continue.
the past month also started to trade together with George_AUS, and i can say we are having a very good time doing so.
however, why i may have adjusted some of my trading, it doesnt mean that what was outlined in the journal is not valid. it also isnt mean that it cant be improved upon on some aspects. he has waste market knowledge, but more importantly a genuinely nice guy. and bcos we both trade full time, that is lots of hours trading together.
but as i said, regarding this journal, i know couple guys who had good results trying out this approach, and i had great results myself too.
what to keep in mind, is the equity SL, and the max DD%. one is free to push the limits with entries, but the equity SL should be kept by all price! the only time that caused me damage ( and not just a dent) was when i ignored the equity SL, and did some revenge trades. a big big NO NO!
one hand dont over expand trade size, but it is OK to expand within the day IF there are profits closed already, to balance out running drawdown; the current drawdown then adjusted with the already closed profit can become a minuscule issue. in the end, for me it is about consistent winning days, and i think many others would agree that is a good target to shoot for.
the reason for the update really is to show that i can do it; and more importantly, that if i can do it, so could others, too!
set a goal, work toward it!
happy trading!
there is always, always another trade!!
- Post #1,059
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- Apr 30, 2019 2:33pm Apr 30, 2019 2:33pm
- Joined Jul 2011 | Status: Member | 1,035 Posts
- Post #1,060
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- Apr 30, 2019 3:09pm Apr 30, 2019 3:09pm
- | Commercial Member | Joined Aug 2014 | 3,820 Posts
Nice work PF, good to see this thread alive again.
most what there was to share is there in the journal, and once in a while there may be someone with a specific question, but there isnt many, really.
being a full time trader is far from the glamour that most want to believe watching a couple fake youtube forex lifestyle videos.
my car is the same, didnt change it, not many fancy purchases, eating good enough food, but 95% is home made, etc.
one can probably assume that my trading is making money, without losing days for long, but i havent double or triple my account, despite what i think is a very healthy return% in the past months.
i am far far from being a millionaire, forex or otherwise, although it still does pay my bills, and whatever necessary.
i am generally content, and alive.
the thread? glad you pass by, it shows it isnt really dead yet.
there is always, always another trade!!