Truth is like poetry. And most people f*cking hate poetry.
- #222
- Mar 4, 2020 3:15pm Mar 4, 2020 3:15pm
- Joined May 2017 | Status: Trader | 3,881 Posts
Truth is like poetry. And most people f*cking hate poetry.
Hello all,
I had a very ugly day.
As I placed my 2nd scalp order for the day, my power went out.
My smart phone battery was dead.
My power only came back on after the market on metals closed.
I am surprised that I didn't got a margin call yet.
Currently in the market with no sl or tp.
I had a very ugly day.
As I placed my 2nd scalp order for the day, my power went out.
My smart phone battery was dead.
My power only came back on after the market on metals closed.
I am surprised that I didn't got a margin call yet.
Currently in the market with no sl or tp.
One can live in the shadow of an idea without grasping it.
- #226
- Mar 5, 2020 12:35pm Mar 5, 2020 12:35pm
- Joined May 2017 | Status: Trader | 3,881 Posts
Well Fuck.... 
Truth is like poetry. And most people f*cking hate poetry.
Well I'm glad I wasn't the only one who blew his account! At least it was only 26 Quid (50 AUD) Starting fresh tomorrow! Good luck to all and remember that tomorrow is a brand new day!!
Lessons learned today is priceless for future trades.
Time to hit the sack for me, very little sleep last 48 hours.
One can live in the shadow of an idea without grasping it.
- #233
- Mar 5, 2020 3:10pm Mar 5, 2020 3:10pm
- Joined May 2017 | Status: Trader | 3,881 Posts
Well what can I say hey, it was a good run and lucky it happened early on with some time to recover still. 
Today I made a rookie error and paid for it literally. Being a month ahead I did not need to trade today and all I needed to do was SOH, but no I thought I saw an opportunity which wasn't there, stupid.
Today's bullish move on Gold had me puzzled and I though it was going to pullback, but it didn't. Trading during this time is really tricky and unpredictable as the market really doesn't know what it wants to do with all the shit going on, anyway lesson learnt. There's still some bucks left in the account and its still quite early in the year so there is time and some money left to try come back on course.
Lets do it!
Today I made a rookie error and paid for it literally. Being a month ahead I did not need to trade today and all I needed to do was SOH, but no I thought I saw an opportunity which wasn't there, stupid.
Today's bullish move on Gold had me puzzled and I though it was going to pullback, but it didn't. Trading during this time is really tricky and unpredictable as the market really doesn't know what it wants to do with all the shit going on, anyway lesson learnt. There's still some bucks left in the account and its still quite early in the year so there is time and some money left to try come back on course.
Lets do it!
Truth is like poetry. And most people f*cking hate poetry.
- #234
- Mar 5, 2020 4:05pm Mar 5, 2020 4:05pm
- | Joined Nov 2019 | Status: Trader | 1,170 Posts
Well Fuck....
One thing I have learned over time, we don’t have to trade every day. You are still an inspiration to me, thank you and for your transparency, good luck.
Cheers
Uncertainty of the market must be embraced and accepted.
@mrdfx Good attitude.
It's important to recognize the mistakes we make. However, its more important how we internalize those mistakes. I think you if you stick to your original plan and only trade for the pip target; using the proper lot size in accordance with the monthly starting balance, you'll do fine. As you have already proved it can be done. You were well on your way and can do so again.
In the end it really only comes down to how well we follow the rules. The rest just works itself out.
Keep it up. You'll be a better trader for it in a month of tomorrows
It's important to recognize the mistakes we make. However, its more important how we internalize those mistakes. I think you if you stick to your original plan and only trade for the pip target; using the proper lot size in accordance with the monthly starting balance, you'll do fine. As you have already proved it can be done. You were well on your way and can do so again.
In the end it really only comes down to how well we follow the rules. The rest just works itself out.
Keep it up. You'll be a better trader for it in a month of tomorrows
Do more of what works and less of what doesn't.
Well what can I say hey, it was a good run and lucky it happened early on with some time to recover still.
My humble opinion is that you used a big lot and traded against the trend to achieve 10 pips a day. One mistake like today wipe out your account. Why not trade small lot to achieve daily profit target.
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- #238
- Mar 5, 2020 10:27pm Mar 5, 2020 10:27pm
- Joined Jan 2016 | Status: I am not a trader | 1,238 Posts
Tnx for sharing and inspiration! I had wiped out 5 accounts with similar experiments/challenges. Had better results when used protective SL on break-even when reached 20-30% of the target but my target was 30-40 pips.
I didn't give it up but I made some observations and now have a different approach for what I am working on now. It is called "synthetic assets". Current problem is that we don't have backtests and statistics for this type of challenge... every deal could be the last one... and we are blind.
"Synthetic asset" is based on N EAs which are optimized/backtested with at least 10 years (better 20 years) data. All package of EAs is running on 1 account. Total drawdown no more than 20%. Yearly profit of package according to backtests about 100% every year.
Each EA as itself was the winner according to backtests. Each EA had no more than 10% drawdown in 20 years.
You have such EAs package with N EAs (N >= 10) running on a demo account and you know from 10 years history that there were about 50 moments when all system was in total drawdown 20%. You wait that moment and then turn on copy trades to your live account.
From a statistic viewpoint, in the longterm, if a system is stable on average X% profitable then there will be fluctuations for about Y% (5% - 10%) - it means some periods (months or even years) it might be loosing, some periods winning and some periods in the middle.
If you have enough EAs (more than 10 on various symbols) then some of them will be great winners and some losers and some in middle. See my TE with live account running 13 EAs as example:
As you can see there are 13 EAs running - EUR/AUD have 19% profits and EUR/USD have -11% loses. You see how all package of EAs compensate and at this moment all package have earned 15%. Now I am waiting for 20% drawdown to enter in with another account (copy trades).
What is needed to be done - we need about 10 such "synthetic assets" because will have only 3-4 entries per year for each asset. You can build up your assets with your rules. For example one asset with EAs with risk-reward ratios 5:1 one asset with risk: reward ratios 1:5 and so on. You can combine various EAs with different entry strategies.
I need about 2 months to build 1 synthetic asset - a lot of backtests and optimizations. Because need to find a combination that has good total drawdown and good total profit in the longterm.
When we trade GOLD, EURUSD or anything... we play according to rules which we don't know. When we trade our own "assets" then we define rules by our selves. We define the behaviour of our "asset" and we trade the balance line of our asset - we wait retrace of our balance line:
I didn't give it up but I made some observations and now have a different approach for what I am working on now. It is called "synthetic assets". Current problem is that we don't have backtests and statistics for this type of challenge... every deal could be the last one... and we are blind.
"Synthetic asset" is based on N EAs which are optimized/backtested with at least 10 years (better 20 years) data. All package of EAs is running on 1 account. Total drawdown no more than 20%. Yearly profit of package according to backtests about 100% every year.
Each EA as itself was the winner according to backtests. Each EA had no more than 10% drawdown in 20 years.
You have such EAs package with N EAs (N >= 10) running on a demo account and you know from 10 years history that there were about 50 moments when all system was in total drawdown 20%. You wait that moment and then turn on copy trades to your live account.
From a statistic viewpoint, in the longterm, if a system is stable on average X% profitable then there will be fluctuations for about Y% (5% - 10%) - it means some periods (months or even years) it might be loosing, some periods winning and some periods in the middle.
If you have enough EAs (more than 10 on various symbols) then some of them will be great winners and some losers and some in middle. See my TE with live account running 13 EAs as example:
As you can see there are 13 EAs running - EUR/AUD have 19% profits and EUR/USD have -11% loses. You see how all package of EAs compensate and at this moment all package have earned 15%. Now I am waiting for 20% drawdown to enter in with another account (copy trades).
What is needed to be done - we need about 10 such "synthetic assets" because will have only 3-4 entries per year for each asset. You can build up your assets with your rules. For example one asset with EAs with risk-reward ratios 5:1 one asset with risk: reward ratios 1:5 and so on. You can combine various EAs with different entry strategies.
I need about 2 months to build 1 synthetic asset - a lot of backtests and optimizations. Because need to find a combination that has good total drawdown and good total profit in the longterm.
When we trade GOLD, EURUSD or anything... we play according to rules which we don't know. When we trade our own "assets" then we define rules by our selves. We define the behaviour of our "asset" and we trade the balance line of our asset - we wait retrace of our balance line: