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  • #768,501
  • Aug 19, 2023 7:13am Aug 19, 2023 7:13am
Guys, i have a serious question. All answers are welcome.

So i am trading for almost 5 years now. I have system and i think i have an edge. I am a position trader who trades based fundamentals, so i do around 1 or 2 trades per month. I should let my trade breathe, since my trades take a long time and price ranges are big. Yet i still have to put a stop loss, coz i am thinking about trading with a prop firm. My drawdown should remain low.

Based on years of testing, my win rate is around 70% (no i am not bragging) but my risk reward ratio is 1 to 1. That means if i take 10 trades in a year, win 7 and lose 3, my net profit will be only 4. I should pump that number up. So i should keep my stops a bit tighter. What would you suggest? Suggestions on W1, D1 or H4 timeframes will be more useful. Thanks in advance
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  • #768,502
  • Aug 19, 2023 7:45am Aug 19, 2023 7:45am
Quoting bfx17
{quote} ohhh, but I know...this accelerated debt repayment generated a lot of bad things for the population: starvation, lack of electricity, water, natural gas, fuel, clothing etc. Plus, this was combined with a very strict surveillance from the secret services and thought police...similar to north korean model... it was really bad... so it was a very stupid idea...
So It showed honesty at a political level but they screwed up the population. Interesting to know.
POSTMASTER
  • #768,503
  • Aug 19, 2023 7:53am Aug 19, 2023 7:53am
Quoting Nordling
Guys, i have a serious question. All answers are welcome. So i am trading for almost 5 years now. I have system and i think i have an edge. I am a position trader who trades based fundamentals, so i do around 1 or 2 trades per month. I should let my trade breathe, since my trades take a long time and price ranges are big. Yet i still have to put a stop loss, coz i am thinking about trading with a prop firm. My drawdown should remain low. Based on years of testing, my win rate is around 70% (no i am not bragging) but my risk reward ratio is 1 to...
Congrats on maintaining a good winrate for 5 years. First thing I would recommend is mindset change in that you shouldn't just think you have an edge by now. You should know you have an edge and judging by your results you definitely have an edge and you know that I'm sure.

As far as improving that number you'd obviously have to increase winrate however I'd have to know a little bit more about your system to contemplate solutions. So in general I would say you need to study why your losses lost. Really scrutinize them and see if you can prevent them somehow. This may lead to less opportunities but a higher winrate. I trade based on Auction Theory and knowing where value is in a session has helped me filter out a lot of losing trade setups. On the H4 timeframe try to see which prices the market is valuing in that particular timeframe or session.

The next thing you will want to do is find targets for your trades that you are confident price will reach and make sure these targets are far so you can increase your reward to risk to x>1:1 such as 2:1, 4:1 or even 10:1. This way your wins will count for much more than your losses. What is your system like? what are the rules? If we could have more information we can glean a more comprehensive answer to your questions. Good luck budd
  • #768,504
  • Aug 19, 2023 7:59am Aug 19, 2023 7:59am
Quoting Nordling
Guys, i have a serious question. All answers are welcome. So i am trading for almost 5 years now. I have system and i think i have an edge. I am a position trader who trades based fundamentals, so i do around 1 or 2 trades per month. I should let my trade breathe, since my trades take a long time and price ranges are big. Yet i still have to put a stop loss, coz i am thinking about trading with a prop firm. My drawdown should remain low. Based on years of testing, my win rate is around 70% (no i am not bragging) but my risk reward ratio is 1 to...
I tried one of these prop firms sometime ago but failed with respect to the drawdown. If i recall, drawdown never sets to cero once you come out of it. Maybe they have changed this rule. And i also think that you are given a smaller period for achieving the required profits. I do not believe it is suitable for swing trader. I may be wrong. GL if you decide to.
POSTMASTER
  • #768,505
  • Aug 19, 2023 8:09am Aug 19, 2023 8:09am
Quoting Nordling
Guys, i have a serious question. All answers are welcome. So i am trading for almost 5 years now. I have system and i think i have an edge. I am a position trader who trades based fundamentals, so i do around 1 or 2 trades per month. I should let my trade breathe, since my trades take a long time and price ranges are big. Yet i still have to put a stop loss, coz i am thinking about trading with a prop firm. My drawdown should remain low. Based on years of testing, my win rate is around 70% (no i am not bragging) but my risk reward ratio is 1 to...
Not being funny but I have seen you blow 2 accounts since you've been on here, not trying to cause trouble but first you need to honest to yourself, my question "why did you blow 2 accounts if your win rate around 70%"? that's the question you should be asking yourself, I know I'll get a lot of backlash from you for posting this but hey that's why we're all here ...
  • #768,506
  • Aug 19, 2023 8:12am Aug 19, 2023 8:12am
Quoting Nordling
Guys, i have a serious question. All answers are welcome. So i am trading for almost 5 years now. I have system and i think i have an edge. I am a position trader who trades based fundamentals, so i do around 1 or 2 trades per month. I should let my trade breathe, since my trades take a long time and price ranges are big. Yet i still have to put a stop loss, coz i am thinking about trading with a prop firm. My drawdown should remain low. Based on years of testing, my win rate is around 70% (no i am not bragging) but my risk reward ratio is 1 to...
It is difficult to put tight stops on higher timeframes. It's one of the reasons I have started moving more towards scalping the 1 and 5 minute charts cause I can use 6 - 10 pip stops. If you can maybe study your past trades and see what the average drawdown is. If you find some consistency you may be able to calculate a stop from that info or maybe even find you need to wait say another 50 pips or so to enter.
  • #768,507
  • Edited 8:51am Aug 19, 2023 8:21am | Edited 8:51am
Quoting charlienoble
{quote} It is difficult to put tight stops on higher timeframes. It's one of the reasons I have started moving more towards scalping the 1 and 5 minute charts cause I can use 6 - 10 pip stops. If you can maybe study your past trades and see what the average drawdown is. If you find some consistency you may be able to calculate a stop from that info or maybe even find you need to wait say another 50 pips or so to enter.
.
  • #768,508
  • Edited 9:42am Aug 19, 2023 8:23am | Edited 9:42am
Quoting Waveskierrob
{quote} Not being funny but I have seen you blow 2 accounts since you've been on here, not trying to cause trouble but first you need to honest to yourself, my question "why did you blow 2 accounts if your win rate around 70%"? that's the question you should be asking yourself, I know I'll get a lot of backlash from you for posting this but hey that's why we're all here ...
Nah mate i won't be angry no problem. Yep i blowed two accounts, while trying to turn 200$ into thousands. I went up to as far as 2500$, but i don't think it was a good idea now. If you checked my TE back then, winrate was around 65% but DD was huge. My losses was double, even triple the amount of my wins. That's why it wasn't sustainable, and only 2-3 mistakes caused failure. I also wasn't using stop losses. I kept adding to the losing trades.

That kind of gambling can only be kept sustainable if i had 100% win rate Which is also why i wanna try prop trading. More money, less rush.
You have to have an IQ higher than 90 to interact with this user.
  • #768,509
  • Aug 19, 2023 8:26am Aug 19, 2023 8:26am
Quoting charlienoble
{quote} It is difficult to put tight stops on higher timeframes. It's one of the reasons I have started moving more towards scalping the 1 and 5 minute charts cause I can use 6 - 10 pip stops. If you can maybe study your past trades and see what the average drawdown is. If you find some consistency you may be able to calculate a stop from that info or maybe even find you need to wait say another 50 pips or so to enter.
You are right, i should review my trades in the past and calculate the max, min and average drawdowns. Thanks bud
You have to have an IQ higher than 90 to interact with this user.
  • #768,510
  • Aug 19, 2023 8:28am Aug 19, 2023 8:28am
Quoting ninner
{quote} I am not angry guppy fish!!! I just want an intelligent discussion!!
I just want an intelligent discussion!!
Then why are you posting on ForexFactory??
To free Gazans of Hamas, use whatever it takes.
  • #768,511
  • Aug 19, 2023 8:31am Aug 19, 2023 8:31am
Quoting sharingan9
{quote} Congrats on maintaining a good winrate for 5 years. First thing I would recommend is mindset change in that you shouldn't just think you have an edge by now. You should know you have an edge and judging by your results you definitely have an edge and you know that I'm sure. As far as improving that number you'd obviously have to increase winrate however I'd have to know a little bit more about your system to contemplate solutions. So in general I would say you need to study why your losses lost. Really scrutinize them and see if you can...
I am using news events to enter the trades. Let's say US unemployment came lower than forecast, i go short in GBPUSD. And vice versa. Most of the time it works, sometimes it doesn't. I need to keep the downside tight, while letting it breathe. It is hard to find the balance Btw thanks a lot man
You have to have an IQ higher than 90 to interact with this user.
  • #768,512
  • Aug 19, 2023 8:31am Aug 19, 2023 8:31am
Quoting Waveskierrob
What we need on this forum is a thread just for slagging each other, cable update has become this, I'm as guilty as everyone else, so if I get enough likes to this post I will set one up...hopefully this will free up this thread for more trading based posts, I doubt it will work but lets give a try...
I doubt it will work <<----------THIS!!!!
To free Gazans of Hamas, use whatever it takes.
  • #768,513
  • Aug 19, 2023 8:43am Aug 19, 2023 8:43am
Quoting Nordling
{quote} Nah mate i won't be angry no problem. Yep i blowed two accounts, while trying to turn 200$ into thousands. I went up to as far as 2500$, but i don't think it was a good idea now. If you checked my TE back then, winrate was around 65% but DD was huge. My losses was double, even triple the amount of my wins. That's why it is wasn't sustainable, and only 2-3 mistakes caused failure. I also wasn't using stop losses. I kept adding to the losing trades. That kind of gambling can only be kept sustainable if i had 100% win rate Which is also...
Much respect ..., I've lost count of the amount of accounts I've blown, learnt all the ways how not to trade so hopefully now I'm left with how to trade, again always learning as the markets keep changing......good luck ...
  • #768,514
  • Aug 19, 2023 8:47am Aug 19, 2023 8:47am
Quoting Waveskierrob
{quote} Much respect ..., I've lost count of the amount of accounts I've blown, learnt all the ways how not to trade so hopefully now I'm left with how to trade, again always learning as the markets keep changing......good luck ...
Thanks a lot man Much respect and good luck to you as well
You have to have an IQ higher than 90 to interact with this user.
  • #768,515
  • Aug 19, 2023 8:50am Aug 19, 2023 8:50am
Quoting Robinhood1
{quote} I tried one of these prop firms sometime ago but failed with respect to the drawdown. If i recall, drawdown never sets to cero once you come out of it. Maybe they have changed this rule. And i also think that you are given a smaller period for achieving the required profits. I do not believe it is suitable for swing trader. I may be wrong. GL if you decide to.
Time limits are definitely not suitable for me, you are right buddy. I found few prop firms with no time limit, i am willing to try those. Too many rules feel like they are looking forward for me to fail
You have to have an IQ higher than 90 to interact with this user.
  • #768,516
  • Aug 19, 2023 8:53am Aug 19, 2023 8:53am
Quoting Nordling
{quote} Nah mate i won't be angry no problem. Yep i blowed two accounts, while trying to turn 200$ into thousands. I went up to as far as 2500$, but i don't think it was a good idea now. If you checked my TE back then, winrate was around 65% but DD was huge. My losses was double, even triple the amount of my wins. That's why it is wasn't sustainable, and only 2-3 mistakes caused failure. I also wasn't using stop losses. I kept adding to the losing trades. That kind of gambling can only be kept sustainable if i had 100% win rate Which is also...

Maybe average out the DD. Divide DD into layers to add up positions? If DD was lets say 60% add up position every 10% And risk 10% of total account into layers?
How to succeed in zero sum game?
  • #768,517
  • Aug 19, 2023 8:55am Aug 19, 2023 8:55am
I hope Ferna and his master FX342 are actually learning from healthy discussions going on right now. If a person asks a decent question he will be answered. 99% of people don’t get jumped on this thread. Only 1% with mental issues do.
How to succeed in zero sum game?
  • #768,518
  • Aug 19, 2023 8:57am Aug 19, 2023 8:57am
Quoting dempire1
I hope Ferna and his master FX342 are actually learning from healthy discussions going on right now. If a person asks a decent question he will be answered. 99% of people don’t get jumped on this thread. Only 1% with mental issues do.
"Post of the Day"...
  • #768,519
  • Aug 19, 2023 9:01am Aug 19, 2023 9:01am
Quoting DrDave
{quote} I doubt it will work <<----------THIS!!!!
Lol, do you even realize how dumb and ridiculous he sounds. He wants to open up a thread dedicated to slagging only and him being the thread owner with all the members here whom he has been slagging for months and years, on his ignore list?.
rob, are you at least gonna take us off your ignore list so we can defend ourselves or is it gonna be a one sided bitching affair?
Trade to trade another day
  • #768,520
  • Aug 19, 2023 9:05am Aug 19, 2023 9:05am
Quoting Nordling
{quote} Nah mate i won't be angry no problem. Yep i blowed two accounts, while trying to turn 200$ into thousands. I went up to as far as 2500$, but i don't think it was a good idea now. If you checked my TE back then, winrate was around 65% but DD was huge. My losses was double, even triple the amount of my wins. That's why it is wasn't sustainable, and only 2-3 mistakes caused failure. I also wasn't using stop losses. I kept adding to the losing trades. That kind of gambling can only be kept sustainable if i had 100% win rate Which is also...
Thats because you dont want to admit that you are wrong on the trade. Happened to me, in my first year of trading, lose 54% of my account, now i dont trade without SL. My excel first for my position sizing and risk management then push buy/sell button
More time in the market, does not mean you trade better!
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