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What I learned after losing $300,000 trading forex

  • #461
  • Aug 8, 2020 2:54pm Aug 8, 2020 2:54pm
Quoting CeeSo
The whole purpose of this thread was not to teach you guys how to trade but to share ideas of how we can all find answers to the biggest problem we all face Dopamine Addiction. Statistics show that most of you are profitable traders see this first picture these are actual live trade from FXCM most of you are winning 55% or more of your trades. The problem is not winning trades see chart Number 1. The problem is that you are all high on Dopamine and you are not cutting losses. chart Number 2. Any Numpty can post a few winning trades and just omit...
Here is a related chart showing percentage of winning/losing traders for different brokers unfortunately I don't know why it happened that way. On average 76% of traders lose money. It would be nice to see what is the client turnover by broker. Please enlarge the chart to see it properly.
Attached Image (click to enlarge)
Click to Enlarge Name: Winning - Losing.jpeg.jpg Size: 102 KB
  • #462
  • Aug 8, 2020 3:38pm Aug 8, 2020 3:38pm
Quoting Hutch
{quote} Here is a related chart showing percentage of winning/losing traders for different brokers unfortunately I don't know why it happened that way. On average 76% of traders lose money. It would be nice to see what is the client turnover by broker. Please enlarge the chart to see it properly. {image}

Interesting! The percentages should be universal across all brokers. "Assuming" we can trust this data this is telling me that there is a big variance and some brokers are obviously playing with spreads during reports to take out tighter stops.

I always like Saxo Bank maybe it is time to change to them
  • #463
  • Aug 8, 2020 5:24pm Aug 8, 2020 5:24pm
Quoting Hutch
{quote} Here is a related chart showing percentage of winning/losing traders for different brokers unfortunately I don't know why it happened that way. On average 76% of traders lose money. It would be nice to see what is the client turnover by broker. Please enlarge the chart to see it properly. {image}
Is this the percentage of profitable traders per hour or per day or per week or per month or per year? If it's an hour then it may be true.
  • #464
  • Aug 8, 2020 5:26pm Aug 8, 2020 5:26pm
Quoting davelansing
{quote} Actually, if you were trading the AUDNZD and had a 70% win rate with a Reward:Risk ratio = 0.67 (Ave Win = 61 pips/ Ave Loss = 90 pips), you'd have a damn good winning system if the trade frequency was high (see screenshot): bottom line... it's all about the math... {image}

You just figured out why people are not rich. In a market that is highly random and rotational that barely moves plus or minus .5% 85% of the time capturing 61 pips with a "high-frequency" as you say ain't ever gonna happen. The math never lies
  • #465
  • Aug 8, 2020 7:20pm Aug 8, 2020 7:20pm
Very helpful thanks alot!

How do i get these percentages on tradingview?
  • #466
  • Aug 8, 2020 7:24pm Aug 8, 2020 7:24pm
Hey,
Is there an indicator or a way to find the stats on each pair of what percentage it stays inbetween the -50 +50 and the other levels ect in mt4?
  • #468
  • Aug 9, 2020 1:42am Aug 9, 2020 1:42am
Quoting CeeSo
This is my first forum post but I am not a newbie. I have lost about 300,000$ trading forex over the course of 5 years and it has been a huge struggle, to say the least but I kept persevering and educating myself and this year I am finally profitable to the tune of $130,000. After all this time and stress (and finally a very good mentor) I figured out some basic truths about forex trading. 1. You have to Master Money Management first and foremost. Forget EVERYTHING else and learn to lose like a professional. I spent tens of thousands of dollars...

Hi I am new trader. I'm trading on micro account. My capital is $25. Thank you for your thread, after I read this thread I still lose 65% of my trade. Yet I gained 50% profit per day.

Now I'm confident in my trading strategy. And has good money management. The most important is I know when to exit if I'm wrong. I'm eager to learn more about market.

I'm using 1 Risk : 2 Reward. And stick to it. I'm also learn to place counter order. Wich minimize my losses further.

Also learn to supress my excitement or disappointment if something happen outside of your expectations. I hope I can grow my capital from $25 and live from trading (I just got laid off from my job). (As my country entered recession)

I sincerely appreciate your post for it's give me hope and will to move on. ( No words can express my gratitude to this post )

(Greetings from Indonesia)

PS: can I share this post to my fellow micro trader friends? Completely with the link to this thread?
  • #469
  • Aug 9, 2020 2:51am Aug 9, 2020 2:51am
I decided to try this great strategy. I will try to repeat the success that CeeSo has achieved with this strategy.
  • #470
  • Aug 9, 2020 3:16am Aug 9, 2020 3:16am
Quoting CeeSo
Of the Nine pairs, I watch and trade you can see that only the AUDUSD is above the 50 level today. I posted early this morning at 9:30 am that today's market was offering me a ROTATIONAL SCALPING TYPE day. On a day like this you can scalp the extremes of the rotational levels with a high degree of confidence. Assuming you safely place your stops outside the extremes, size your trades right and there is no big news release. You are not going to make a lot of money on a day like today because your r:r is going to be 1:1 with a very wide stop like...
Hi CeeSo !
Is there any specific reason for using a 33 pip range grid instead of using for exmple a 20 or 40 grid ?
  • #471
  • Aug 9, 2020 8:46am Aug 9, 2020 8:46am
Quoting Hutch
{quote} Here is a related chart showing percentage of winning/losing traders for different brokers unfortunately I don't know why it happened that way. On average 76% of traders lose money. It would be nice to see what is the client turnover by broker. Please enlarge the chart to see it properly. {image}

The market is constantly changing , you need to constantly adjust to the market. Now , for no reason, the price can turn around, stop loss will work, and the price will go back . This is my opinion .
  • #472
  • Aug 9, 2020 10:13am Aug 9, 2020 10:13am
Quoting Plasma
{quote} Hi CeeSo ! Is there any specific reason for using a 33 pip range grid instead of using for exmple a 20 or 40 grid ?
I use the percentage changes each day that change with PRICE.
  • #473
  • Aug 9, 2020 10:38am Aug 9, 2020 10:38am
Quoting Plasma
{quote} Hi CeeSo ! Is there any specific reason for using a 33 pip range grid instead of using for exmple a 20 or 40 grid ?
@Plasma, You looked at his data and can see what percent of days the price closed within 0 to 0.5% of it open price, right? So, just take the open price for a few days, find that 100.5% price value and subtract the open from it and you will see the number of pips this is for your pair in question.

Now look at CeeSo's data again for the RANGE and find what you feel is an "extreme" enough percentage that is not likely to be reached, convert to price and use that as your stop loss value.

Now you have your own data to help you determine what size range grid that you want to use.
To free Gazans of Hamas, use whatever it takes.
  • #474
  • Aug 9, 2020 11:03am Aug 9, 2020 11:03am
Quoting Plasma
{quote} Hi CeeSo ! Is there any specific reason for using a 33 pip range grid instead of using for exmple a 20 or 40 grid ?
By the way, even though time series are known to be nonstationary, you can still apply the common statistical tools that are valid for stationary series in order to look for anomalous behavior.

You can get an idea of whether or not the daily range between the daily open and close tends to fall within a normal distribution or not by plotting each day data values for this open-close range on a Shewart control chart.

In addition, you may find some interesting cycles of the data falling "nicely' around the center line, then something happening and a new center line needs to be used.

Begin with 30 days to calculate the average to use as the "center line".

Pay special attention to sequences that run for 5 or more days on one side of the center line. When this occurs, split your data into groups (probably 5 or 10 points per group) and run ANOVA to determine if the variance has changed enough to indicate that the suspect group does not belong to this data set, so starting with this "outside" group, collect the next 30 days, calculate a new center line, and continue as before.
To free Gazans of Hamas, use whatever it takes.
  • #475
  • Aug 9, 2020 11:03am Aug 9, 2020 11:03am
Quoting KeenPips
Very interesting. It is important to learn from one's trading mistakes, particularly where live trading accounts were blown. I have lost some money in the course of my trading career. Having blown about three of my live accounts in the first two years, I learnt three key things: 1. Capital protection should be my #1 goal; including risking only what I can afford to lose and using a stop loss; 2. Never over trade, including trading less often but looking for high quality trade setups based on specific trading criteria/rules; 3. Stick with one or...
losing $300,000, really huge loss , but I think once you deposit $300,000 , to any broker it is almost impossible to take back your money even if you make profit .
Honesty of a broker is only limited to $1000, only.
Neither a Bro Nor a Pro I am I
  • #476
  • Aug 9, 2020 11:23am Aug 9, 2020 11:23am
Here's the rub: If you have learned anything from losing money in the Forex trading business tell us.

Stay safe, trade safe.

KP

Quoting satish37
{quote} losing $300,000, really huge loss , but I think once you deposit $300,000 , to any broker it is almost impossible to take back your money even if you make profit . Honesty of a broker is only limited to $1000, only.
Do your homework, follow the footprints of smart money
  • #477
  • Aug 9, 2020 11:31am Aug 9, 2020 11:31am
Quoting Emro
I decided to try this great strategy. I will try to repeat the success that CeeSo has achieved with this strategy.
I'm not rich as CeeSo so I set up an account 10 times less than CeeSo. After the markets open, I start trading.
Attached Image
  • #478
  • Aug 9, 2020 1:43pm Aug 9, 2020 1:43pm
Quoting satish37
{quote} losing $300,000, really huge loss , but I think once you deposit $300,000 , to any broker it is almost impossible to take back your money even if you make profit . Honesty of a broker is only limited to $1000, only.
Obviously you are totally clueless about the honesty of brokers. Look at the upper right of this picture and you will see when I first made a profit withdrawal and it was a little more than $1000. This is one of the reasons why I have been trading with that broker since 2005.
Attached Image (click to enlarge)
Click to Enlarge Name: profit withdrawal.png Size: 30 KB
  • #479
  • Aug 9, 2020 1:53pm Aug 9, 2020 1:53pm
Quoting Snta32
{quote} The market is constantly changing , you need to constantly adjust to the market. Now , for no reason, the price can turn around, stop loss will work, and the price will go back . This is my opinion .
You are 100% correct. We all really hate it when our stop loss is hit then 1 pip later the price resumes in the direction of our trade. Some traders would say that the stop loss was too tight but no matter what I never change my stop loss.
  • #480
  • Aug 9, 2020 1:58pm Aug 9, 2020 1:58pm
Quoting CeeSo
{quote} I am an atheist but I do believe there is a ton of wisdom in the bible
Being forced to read the bible when I was in primary school is the reason why I'm now an atheist I was not convinced by the bible BS
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