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How to make every trading week profitable

  • #81
  • Feb 20, 2023 6:17am Feb 20, 2023 6:17am
Yeah, I agree with you, buddy! Btw, are you into manual trading or copying trades?
  • #82
  • Feb 26, 2023 8:23am Feb 26, 2023 8:23am
this is the most stupid thread i've ever read
  • #83
  • Mar 2, 2023 9:18pm Mar 2, 2023 9:18pm
Quoting bearthebull
this is the most stupid thread i've ever read
says the troll who’s never created a thread.
  • #84
  • Mar 2, 2023 9:26pm Mar 2, 2023 9:26pm
Quoting RickM
{quote} Hi Benaiah I believe there is still one basic fault with your plan. You allow a bad trade to run up large losses and then switch accounts when you haven’t fixed your major problem. The trade setup may have been good at entry but turned bad thereafter. Why would you sit there watching a trade suck up your equity when you should have cut it early for little cost. If this keeps happening, it proves your trading strategy is still a work in progress- back to demo. Changing accounts won’t save a bad strategy, only a smarter approach will make...
I think I will always be a work in progress. No surprise there. At this point in time I’m a completely different trader than I was when I was posting last year. I may share my new approach in time, and what caused the 180 degree change in my approach.

As far as prop firms being stupid due to most failing, that logic is flawed. Most traders fail. Period. It doesn’t matter if trading through prop firm or not.
  • #85
  • Edited 11:00pm Mar 2, 2023 10:25pm | Edited 11:00pm
Quoting Eelse16
Instead of focusing on trying to generate a profit on each trade, I focused on trying not to lose on each trade. And tried to be consistent in my trading.
Funny thing. When I read this and other comments last year I disagreed. Now I whole heartedly agree.

Picking quality setups and trying not to lose is key to my new approach.
  • #86
  • Mar 2, 2023 10:26pm Mar 2, 2023 10:26pm
Quoting benaiah
{quote} I think I will always be a work in progress. No surprise there. At this point in time I’m a completely different trader than I was when I was posting last year. I may share my new approach in time, and what caused the 180 degree change in my approach. As far as prop firms being stupid due to most failing, that logic is flawed. Most traders fail. Period. It doesn’t matter if trading through prop firm or not.
Hi Benaiah

Don’t let forex factory waste your time. Your time is better spend on improving your own strategies in private than arguing with a pack of demo traders here.

Prop firms offer an opportunity for traders to prefect their strategies without a fear of major capital loss.
Better to lose a monthly subscription than loose thousands of your hard earned cash on a failed method.


Good luck with your new methods
Trading thin liquidity at the boundary of the charts
  • #87
  • Mar 3, 2023 12:01am Mar 3, 2023 12:01am
Quoting benaiah
{quote} Funny thing. When I read this and other comments last year I disagreed. Now I whole heartedly agree. Picking quality setups and trying not to lose is key to my new approach.
Yeah, it's good to know that we both agree on this.
  • #88
  • Edited 3:34am May 1, 2023 3:23am | Edited 3:34am
Further to this thread.

I just started a new robot on a PROP firm. There is a slight possibility, that it will blow the account once i a while. My risk management is therefore to have 3 accounts running with the same robot - but only one active at any time. I then change the active account every evening. This way I am sure, that I will allways have minimum 1 account that is producing money.

Whenever one of the accounts might blow up, then it is fast to get a new one.

Some say trading is about not loosing. I am sure that this is true for many people, but the amount of profit made is more important to me. Especially when loosing is no problem on a PROP account, because I do not loose any money myself. Only thing is, that I must scale my average losses, so that they don't blow the account too often. That is done by normal risk management. I typically set 30 pips of trailing stoploss to 0.5% of the account balance. Then I let the profit run til it his stoploss. This is possible when trading Gold.

So I am using 2 types of risk management here.
MetaTrader 4 - so many advantages.
  • #89
  • Last Post: Aug 7, 2023 1:05pm Aug 7, 2023 1:05pm
As everyone tries to share their vision of a profitable week, then I won't be an exception.
Initially, you have to determine the trading style, whether you are a scalper, position trader or a day trader.
I am a day trader that's why I don't open more than 5 positions per day. My profitable week implies appromixately 5 opened and closed positions per day and some time devoted to chart analysis. I use a specific risk management strategy that includes 1:3 reward/lose ratio. I set sl/tp according to this strategy and actually it helps me to make some profits.
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