The brutal truth of day trading | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The truth about trading 164 replies

Truth about trading 9 replies

Truth about online trading...Is this us also? 5 replies

Pulos Bill - The Truth About Fibonacci Trading (Attached) 4 replies

The Bonehead Trader..please be brutal!! 47 replies

Attachments: The brutal truth of day trading
Exit Attachments

The brutal truth of day trading

  • #101
  • Mar 31, 2021 5:20pm Mar 31, 2021 5:20pm
Quoting UKBanter
I just want to beat the markets pure and simple. BUY or SELL pure and simple.
I just want to be the great surgeon, but please no study and practice. Cutting people is simple!
I just want to be the great swimmer, but please no daily trainings for years. Water? Swimming? The simplest thing in the world!

Trading is that simple! All you need is to feel the market. Math? Ha! Computer science? Ha ha! Not in 2021. Feelings rule!

Just curious why there are no billionaires around?
Observer effect
  • #102
  • Mar 31, 2021 6:37pm Mar 31, 2021 6:37pm
Quoting ryuryu
{quote} I just want to be the great surgeon, but please no study and practice. Cutting people is simple! I just want to be the great swimmer, but please no daily trainings for years. Water? Swimming? The simplest thing in the world! Trading is that simple! All you need is to feel the market. Math? Ha! Computer science? Ha ha! Not in 2021. Feelings rule! Just curious why there are no billionaires around?
@ryuryu -- if you can -- provide the name of a statistic, just one will do, any stat. Let's see if you can back up that hot air with some real knowledge...
  • #103
  • Mar 31, 2021 6:46pm Mar 31, 2021 6:46pm
Yes very true you can manipulate numbers to prove your point/bias. Statistics or not. For instance you can take a chart that shows say 3-20 to 30 pip runs for nice little trades. Most decent systems with indicators will get you in say 2 of 3 with a pretty good entry. Then people will look a chart and say well I need to be able to pick up all 3 trades. Then you they start to play with indicators, looking at different ones changing the inputs lengths etc. Lo and behold you get in on all 3 trades with near perfect entries and exits. Now they get excited this is great, but all they did was manipulate the numbers to get the answer they wanted for 1 chart period. Bottom line you won't get all the trades, you entries won't always be perfect, you won't always get 90% of the trend. That's trading its rarely ever perfect.
  • #104
  • Mar 31, 2021 7:46pm Mar 31, 2021 7:46pm
Do the maths
Do the market read
Then trade

But WAIT first (and have an idea what you are 'waiting' for)


No one has all the answers - we EACH have a piece of the puzzle - yet we argue over who is right & who is wrong



.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1 targets market behaviour quants eas.png Size: 87 KB
  • #105
  • Mar 31, 2021 8:21pm Mar 31, 2021 8:21pm
Quoting rockypoint
Yes very true you can manipulate numbers to prove your point/bias. Statistics or not. For instance you can take a chart that shows say 3-20 to 30 pip runs for nice little trades. Most decent systems with indicators will get you in say 2 of 3 with a pretty good entry. Then people will look a chart and say well I need to be able to pick up all 3 trades. Then you they start to play with indicators, looking at different ones changing the inputs lengths etc. Lo and behold you get in on all 3 trades with near perfect entries and exits. Now they get excited...
I believe what you are describing is curve fitting. And it can happen on both algorithmic, systemic or discretionary rules.
  • #106
  • Edited 9:00pm Mar 31, 2021 8:23pm | Edited 9:00pm
Quoting TimeTells
Do the maths Do the market read Then trade But WAIT first (and have an idea what you are 'waiting' for) No one has all the answers - we EACH have a piece of the puzzle - yet we argue over who is right & who is wrong . {image}
Hello @TimeTells -- I'm very glad to see you jump in. I continue to learn from your insight.

Though I'm technical in nature and very comfortable with statistics, it irks me to read people using "statistics" as a weapon to mock traders that are more discretionary in nature. So -- when someone tosses out the word "statistics" or "maths" then I'll play along and ask which "statistic" or "math", in particular, do you mean. To be honest, I have no clue what you mean by "do the maths". Does it include statistics or algebra? Or is it more discretionary, comparing levels, thresholds and maybe a TARGET or two? I don't think 'Targets' would be included under "statistics" since they are discretionary lines drawn from previous Highs and Lows.

@TimeTells -- if you respond I may press you bit, but please understand that would only be for the sake of discussion. As one of the few traders here who can "walk the walk and talk the talk", you don't have anything to prove.
  • #107
  • Mar 31, 2021 8:35pm Mar 31, 2021 8:35pm
The discussion has turned to an interesting direction... but ultimately we rely on numbers and statistics to trade IMO. It influences our decisions pretty heavily, just many traders may not have the resource or desire to put it scientifically and acquire enough sample size.

Here is how I interpret some of the statements...
”I feel the market will move ____” >> probability of picking the right direction based on experience/backtest/forwardtest/real trades

”this is the important S/R” >> price stays around that level for N ticks, and by experience has high probability to cause reactions.

”I follow this strategy/guy” >> statistics tells his strategy has positive expectancy, and N people follow him which is more than normal (although most of the time, unknown sample size)

“My strategy works and yours not” >> statistics tell my strategy has positive return and yours not, although again unknown sample size to quality the conclusion

This thread is about “brutal truth of day trading” and the objective seems to prove that day trading is inferior than other approaches. Interestingly, as I pointed out, that as much as 50% day traders can at least not losing money as of the studies showed, and <5% can perform better than the “market”. So far the numbers do not deviated much from common perception of trading in general.

would like to see some statistics showing other approaches being more successful than day trading so I can understand more about the brutal truth.
  • #108
  • Mar 31, 2021 8:41pm Mar 31, 2021 8:41pm
Quoting robots4me
{quote}
@TimeTells -- if you respond I may press you bit, but please understand that would only be for the sake of discussion.

Hi Robots,

Mate I don’t do the maths. Others do.

I am conversant with maths. But other traders do it better than I could.

Traders like BW are brilliant at it. I am not at their level.


So I read the market.

That is far too discretionary for some. Some mock it. They do the maths but maybe they don’t read the full market behaviour. Who knows.

No one is right while the other is wrong imo.


I do know the market is bound around fibs. George showed me this and it actually blew my mind.

I asked him why didn’t he trade just fibs (maybe these days he does). He told me, hope I am correct here George lol, that they weren’t precise enough, for him.


So I don’t trade fibs at all, but I do watch them. Myself I am happy if price just gets into an AREA OF INTEREST (after coming from another AREA). That is close enough for me. And I don’t chase big major pips, I just scrap around for what I am happy with.


So, sorry Steve, I have no maths info to give the thread. I only read charts.


It would be great imho, if, for once, the maths guys put up one of THEIR charts and included some stats & maths on it.

For those of us watching & waiting to see the “STATS” AND “MATHS” on an actual chart.

That might help us all.

Cheers
  • #109
  • Mar 31, 2021 9:02pm Mar 31, 2021 9:02pm
Quoting TimeTells
{quote} Hi Robots, Mate I don’t do the maths. Others do. I am conversant with maths. But other traders do it better than I could. Traders like BW are brilliant at it. I am not at their level. So I read the market. That is far too discretionary for some. Some mock it. They do the maths but maybe they don’t read the full market behaviour. Who knows. No one is right while the other is wrong imo. I do know the market is bound around fibs. George showed me this and it actually blew my mind. I asked him why didn’t he trade just fibs (maybe these days...
I think it is for many.

Simple as someone trading a chart with moving average

MA - mathematical calculation based on previous N bars, a statistical function describing the central values of multiple data points

winning strategy - statistical data showing certain strategy has positive return.

experience is a form of statistics.
  • #110
  • Mar 31, 2021 9:03pm Mar 31, 2021 9:03pm
when it comes to trading some people seek only confirmation of what they believe, a large amount want someone to tell them what to do and hold their hand, very few seem to want to put in the time learning.
  • #111
  • Mar 31, 2021 9:33pm Mar 31, 2021 9:33pm
I think experience does outweigh statistical data,
but statistical data created the experienced trader.

As for day trading versus long term trading, I have been in both teams.

I think it really gets down to day traders looking to take advantage of liquidity imbalances and long term traders looking to take advantage of perceived TA or FA action.
By liquidity imbalances, that may be stop runs, fake or real breakouts or exhaustion trades.

Statistically, short term trades would have a far high win/loss ratio due to lower profit targets which allows the trader to focus on the mastering the art of trade execution.
I would myself take 50+ trades a session allowing me to feel the statistics, breath the statistics, suck the top of the wicks when price is riding a price channel.
Trading thin liquidity at the boundary of the charts
  • #112
  • Mar 31, 2021 10:21pm Mar 31, 2021 10:21pm
Quoting TimeTells
{quote} Hi Robots, Mate I don’t do the maths. Others do. I am conversant with maths. But other traders do it better than I could. Traders like BW are brilliant at it. I am not at their level. So I read the market. That is far too discretionary for some. Some mock it. They do the maths but maybe they don’t read the full market behaviour. Who knows. No one is right while the other is wrong imo. I do know the market is bound around fibs. George showed me this and it actually blew my mind. I asked him why didn’t he trade just fibs (maybe these days...
When you say stats and maths, what do you mean? I am pretty handy with an excel spreadsheet.

Quoting RickM
I think experience does outweigh statistical data, but statistical data created the experienced trader. As for day trading versus long term trading, I have been in both teams. I think it really gets down to day traders looking to take advantage of liquidity imbalances and long term traders looking to take advantage of perceived TA or FA action. By liquidity imbalances, that may be stop runs, fake or real breakouts or exhaustion trades. Statistically, short term trades would have a far high win/loss ratio due to lower profit targets which allows...
I do that too. I scalp and I swing. I do not take nearly as many trades as you do though. I let price action tell me if it will be a scalp or a swing. I will take one good trade a day, but my hold time may be the length of a contract.
If you are good at something, never do it for free--Joker
  • #113
  • Mar 31, 2021 11:02pm Mar 31, 2021 11:02pm
Quoting jmn5611
{quote}When you say stats and maths, what do you mean? I am pretty handy with an excel spreadsheet.


Hi Jmn

Thank you very much, appreciated.

Myself I read charts, I don’t use maths or stats as such to formulate a plan for any trade.

But I do read charts (yes I know a cloudy concept).

For example I put up a chart on USDCAD earlier on this thread this morning.

Reading the chart it was fairly clear to me what the market behaviour of that pair would likely be in the morning Asia session. I took two x 5p trades on the 3rd low (that was not a new LL) though I missed the full 27p run the pair made.

So I am not an expert in anything forex lol. And I am not a professional trader as I have a separate income which allows me to play and “examine” the markets more (when I trade) than if I was trading specifically to feed my family, if you know what I mean.


Over the past month or so many are saying they use & recommend maths as the only proper or sensible way to trade.

But to me “maths” is a pretty big footy field encompassing many aspects of that discipline.

So when someone says we have to use maths to properly quantify the market, for its next possible move, to be honest I cannot “visualise” what they are really talking about (and I did use maths extensively in a previous speculative involvement - so I know what data sets are).


I was hoping that one of the maths guys could just put up a ‘naked’ chart (I DO NOT want their formulas, please, and I do respect what someone has to do, or did personally, to get to where they are now).


But a chart, for example the current USDCAD. Could someone put up a chart with some text on the chart saying something like the adding & subtracting of certain indis or history data suggested there was a better than 70% chance - for example - of price going up this morning from the open to reach 1.25800 - or something like that.

Else what does this word “maths” really mean.


Stats is different. Stats will suggest over a period of something that something may or may not happen, again. Some stats will be more valuable than other stats. So again the word ‘stats” doesn’t show a reader of what value those individual stats have. (again I do not want someone’s stats work exposed here)


I like to read a chart so please understand I am requesting something for my benefit only.

So I guess I would like to “compare” what either stats or maths provides that is more helpful to me than my chart reading the repetitive market mechanics.

I would understand if no one wanted to put their maths end point on a chart. Other maths pursuers might then say “well my style of maths is different to your style of maths” and off we go again around in circles.

And if my question dies off it is no problem to me honestly.


Maybe the real BRUTAL TRUTH of day trading is not in the waiting for a trade setup as I see it.

But in the definitions of what we are all specifically talking about.

Chart reading, maths, stats, we might all understand it in a completely different way (ie our own way).
  • #114
  • Mar 31, 2021 11:57pm Mar 31, 2021 11:57pm
Quoting TimeTells
{quote} Hi Robots, Mate I don’t do the maths. Others do. I am conversant with maths. But other traders do it better than I could. Traders like BW are brilliant at it. I am not at their level. So I read the market. That is far too discretionary for some. Some mock it. They do the maths but maybe they don’t read the full market behaviour. Who knows. No one is right while the other is wrong imo. I do know the market is bound around fibs. George showed me this and it actually blew my mind. I asked him why didn’t he trade just fibs (maybe these days...
so im way beneath present guys levels in hear

but any way seeing as its on topic and we apear to have smart people in statistical nature i will ask the following and see if some one feels like helping

if i were to keep statistics is there a small run don way of explaining or clear cut example of how one should do so ( perhaps a thread if its overly complex like most things hear )
- i liked r4m question types of statistics so id like to ask r4m what are the statistics he classes and likes to see when sounds a little deeper than a simple win loss ratio


im asking really because well.... as much as i want to believe in Santa Claus and the tooth fairy had an epic love adventure statistics tell the truth

all or any imoformation or recommended threads about keeping statistics are welcome

thankyou for any ones time

....(i will return into the darkness to watch smart people have smart arguments )
  • #115
  • Apr 1, 2021 12:41am Apr 1, 2021 12:41am
Quoting RoninTheory
{quote}
(i will return into the darkness to watch smart people have smart arguments )

Hi RT,

I prefer lurking also, as I am not one of the smart people at all. (I read a lot is the best I can say for myself lol)


(And you're best to have quoted Robots else he might not see your post.)



Yes, I would also be interested in the high end of a stats discussion also.

Maths is a bit different.

Those that use maths might all be using different seeding. And using the (same) word ‘maths’ and employing it not so much differently, but from a different data ‘start’ point. The word ‘maths’ always sets my brain buzzing (I always need tighter definitions).


When you get into the maths quant world the name Renaissance Tech Hedge must come up. The available online interviews with James Simons are mind stretching to say the least.

In one interview he said, if I remember correctly, with their teams of quants, physicists & computer scientists that their investment portfolios achieved a 51% strike rate. 51%. I had to think about that. It was just better than a flip of the coin.

But then he said they achieved the 51% with 100% certainty. That changed everything.

So with their wall-to-wall Crays (just joking) they hit 51%. But with a 100% certainty of achieving that 51% then it was just a matter of how much money they could set for on their trade portfolios.


Does his help a Day Trader in Forex. Up to each to determine.

Maybe this is another Brutal Truth.

And stock traders hold positions over much longer time and will hedge their portfolios, and rarely would be day trading I imagine (not sure tho).


Most Day Traders in FX might choose a pair and choose a direction. AND they might get far better than a 51% success rate.

They then might close out their winning trade early, which could have been more profitable if held longer (I do this lol). Or they might hang on to a losing trade that is going further into drawdown based on some idea their original direction prediction was correct and the trade will turn in their favour ‘soon’ (I don’t do this - ever - not any more that is).

These are some more Brutal Truths I guess.


But yes, I would also be very interested in seeing the high end of stats, and their predictiveness from those that can show something without their formulas.
  • #116
  • Apr 1, 2021 12:44am Apr 1, 2021 12:44am
Quoting TimeTells
{quote} Hi Jmn Thank you very much, appreciated. Myself I read charts, I don’t use maths or stats as such to formulate a plan for any trade. But I do read charts (yes I know a cloudy concept). For example I put up a chart on USDCAD earlier on this thread this morning. Reading the chart it was fairly clear to me what the market behaviour of that pair would likely be in the morning Asia session. I took two x 5p trades on the 3rd low (that was not a new LL) though I missed the full 27p run the pair made. So I am not an expert in anything forex lol....
May I share some of my “maths and stats” approaches to add confidence in executing a trade manually. Both have signal mechanism for trade opportunities. They are for supplementary confluences

First is stats. A statistical indi that estimates SL TP being hit in 24 hr. Volitality and trend following/reversal are the reference parameters.
In this chart of UCad, it estimated a ~70% chance of reversing up for 30pips. The first number is occasions with similar volatility in past 200 days, safe means not hitting SLTP in 24 hr, win means win
Attached Image (click to enlarge)
Click to Enlarge Name: DC927B1D-E3B3-4C5C-A805-F24335BCC41B.jpeg Size: 775 KB


Second is maths. I took MACD and OsMA, used the math concept of deconvolution to show possible exhaustion of a swing by “penalising” prolonged positive/negative period. Both lines are exponentially weighted with previous 1000 bars to let myself stay out of slow markets in whatever time frame I am looking at
Attached Image (click to enlarge)
Click to Enlarge Name: A8F33ACB-312F-40AB-BE3D-A2456F310ED6.jpeg Size: 726 KB
  • #117
  • Apr 1, 2021 12:49am Apr 1, 2021 12:49am
Quoting TimeTells
{quote} Hi RT, I prefer lurking also, as I am not one of the smart people at all. (I read a lot is the best I can say for myself lol) (And you're best to have quoted Robots else he might not see your post.) Yes, I would also be interested in the high end of a stats discussion also. Maths is a bit different. Those that use maths might all be using different seeding. And using the (same) word ‘maths’ and employing it not so much differently, but from a different data ‘start’ point. The word ‘maths’ always sets my brain buzzing (I always need tighter...
lovely points hopefully some one replies to you about statistics i will look at what you stated when im home too i have friend whos into statistics maybe he might say something if no one else does perhaps

there will be many category's of statistic who knows im a knoob i dont mind being knoob - means im always learning whether it is good or bad learning (variable to the individual )

just be intresting to see few seasoned ones talk statistics and argue about what is better than what how well it would go dont know many variables i would imagine to have many arguments ill wait

thanks for taking the time

wishing all a good day
  • #118
  • Edited 2:53am Apr 1, 2021 2:37am | Edited 2:53am
Quoting robots4me
{quote} @joyny -- did you read my post? Did you read the line that says " I, personally, do value stats"? Like @ryuryu, you use the word "statistics" as a baseball bat. There are "statistics", and there are "STATISTICS". People who are familiar with statistics know you can choose from a variety of different statistics to support any point of view -- depending on your agenda. Furthermore, let's suppose you choose a particular stat -- at what threshold value do you claim it represents a successful / failed strategy? As an example, take a simple stat...
Hey robots4me! In my post I tried to give simple advice to get statistics for every strategy you are going to use no matter EA or manual. What I see with manual trading.... people pick up indicators, see in charts some profitable entries and decide that can go with real money. For example in this thread this recent post. But it must be backtested at least 3 years and only then can decide. When you see profitability and drawdowns. Then divide by 2 profits and raise by 2 max drawdowns and only then you can go with real money because you will know how much capital you need to survive 2x deeper drawdown and how much reward you can expect to get (2x less than in backtests). Thats realistic approach and that how anybody who trades manually must decide before using any indicator/strategy for entries/exits.

In this post I pointed out on quantity question for statistics.. 700 deals vs 200 deals history? In theory 700 deals is considered a "must-have" for evidence. But after thousands backtests + simulated forwardtests I see that for example 700 deals in 3 years is "overtrading" or over-optimized... Better and stable works less trades per year.

Anyway I use 2 approaches.. With open prices modeling I use 20 or 10 years for optimizations + 2 to3 years for simulated forwardtests. If EA based on ticks (not bars opening/closing) then using real ticks and thats 3years data.

Here in this my post I give real account results. EA was optimized/backtested with 3 years data. Now it working 1.5 years and seems accordingly.

Attached Image (click to enlarge)
Click to Enlarge Name: gbn_stats.png Size: 46 KB


In this picture final backtest results I made 1.5years ago the decision to use that particular strategy for GBPUSD. Marked with red what was important for me from 3 years statistic to decide:

1. I must know how much money I need on account to survive drawdowns and leverage
2. How much I can earn. It is not interesting for me to survive 50 usd drawdown and earn 10 usd... Recovery factor for 3 years must be at least 5. Then it is interesting for me as an investor. Recovery factor 5 means - I will expierence 20 usd drawdown but will get 5x profits = 100 usd.
3. For 3 years must be >200 trades - just to consider stats are enough. But this is my assumption. I know that 200 might be too small... yes 700 would be ideal in theory. But I see it is overtrading. But too old data (like 20 years ago) might not represent current market behavior. Therefore I work with 10/20 year old data and >700 deals with open prices only strategies and 3 year old data (and 200 trades) with ticks.
4. Then I must see that BUY and SELL is quite an equal count. Because that means strategy works in any direction no matter UP or DOWN trend. Except for stocks - stocks can go with buy-only strategies.

All the rest is for peace of mind while EA is running...
1. I need to know that the losing series was no more than X in a row. To not get panic when some 2-3 in a row losing
2. I need to know the average position holding time and maximum position holding time to not get into a panic when some deal is not closing...

Panic and doubts come when you don't have data. Confidence comes when you have enough data. "Know the past and will know the future" (Confucius). If you want to control emotions then you have to have enough statistical data from the past - it is experience. With EAs you can get that experience in several hours. Manually you need several years to get that (for example with demo account). What a huge time waste. Time is the most valuable asset. When you do trading manually you waste your time if didn't made manually in Excel backtesting your strategy. I saw people doing several months manual backtests in Excels... what can be done with EA in 1 hour.
  • #119
  • Apr 1, 2021 3:44am Apr 1, 2021 3:44am
Quoting HeyYou
{quote} I don't want to argue with you, but, do you have any proof that your trend following strategy works ? where is YOUR proof ? ohhh... "20 percent of investment professionals are successful investors. Success could be defined as producing returns that are as good or higher than the average profits earned in the stock market" maybe 99% of them just got lucky lol
Hi HeyYou,

First and foremost I never stated that "my trend following strategy" works better than other strategies.
What I was stating was the shy number of people that are profitable day trading that really make money (bank teller's first salary as a benchmark) which is 0.4% according to one Brazilian study and 1% according to Forbes.

I can't give you the % of people succeeding in the long-term trading because no thorough research has been freely publicize on the internet.

But what I can give you is this sentimental research:
I know a lot of long-term profitable trend followers such as:
Jesse L. Livermore, (predicted 1929 crash and made over $100M, adjusted for inflation ~ $1.4B)
Arthur W. Cutten, (became rich and famous around the Wall Street circle in the 1920s bull market)
Nicholas Darvas, (made over $2M in the 1957-1958 bull run)
Richard Dennis, (In the early 1970s, he borrowed $1,600 and reportedly made $350 million in about six years. Also was one of the founder of the turtle traders)
Turtle Traders, (The turtles had turned an initial stake of less than $5,000 into more than $100 million.)
Ed Seykota, (turn $5k into $15M in 12 years)
John W. Henry, (from trading commodity futures to owning Boston Red Sox and later Liverpool Football Club)
Dan Zanger, (turned $10,775 --> $18,000,000 in under 2 years)

Attached Image (click to enlarge)
Click to Enlarge Name: d951ec1b847538c9ef9aa1da6bb94bee.png Size: 109 KB
and some other guys that you can see on the picture above (source)


So what about day trading? not gonna be biased here, most of the day traders I found are selling courses, but there are some legitimate day traders online as well, they are usually DOM/Lv2 traders but that is towards scalping and not day trading necessarily.

DOM/Lv2 traders are the perfect example of discretionary traders, they don't have a mechanical plan, what most of them do is that they 'feel' the market and react/anticipate to it.

the only legit day trader I found online will probably have to be Samuel Leach, but he has his own broker and trade by it.

why I equate him as being legit is because he has his own prop firm and he did mentioned in one of his two 'Real Forex Trader' series (recommended btw very good documentary) that his Profit Factor is 1.4 and his win rate is 79%, which makes his rr ratio around 0.37reward-to-1risk.

And those numbers still falls as what I consider realistic returns (PF around 1.2-1.8)

discretionary or mechanical, swing trading or day trading, feels or stats.
Quote
everyone gets what they want from the market. - ed seykota
Steps to profitability: Collect data, money management, stay bored
  • #120
  • Edited 4:27am Apr 1, 2021 3:56am | Edited 4:27am
Attached Image (click to enlarge)
Click to Enlarge Name: 9a56df2fab7121371ff28f70c03376ab.png Size: 26 KB


Here are my stats from February 2021 till to-day (still a short period of time I know, will update after a year.)

discretionary, swing trading, I buy on breakouts, trend following.

the reason why my trend following has relatively high win rate and relatively low rr is because I close 3/4 of my position on 1-to-1 and leave the rest to run.

also about mt4:
When I buy 1 lot of EURUSD, then I close 0.5 lots and close another 0.5 lots in later time, mt4 counts this as 2 trades.
Hence, the many total trades & consecutive trades that I have.

I often cut my losses partially, hence the consecutive losses.

my number one rule is:
-protect thy capital!!

I consider this as realistic returns, my PF is 1.39 with an average win rate of 55% and an average reward-risk ratio of 1-to-1.
Steps to profitability: Collect data, money management, stay bored
2 traders viewing now