Try Not To Lose 4% Per Day And 8% Of Your Account, Ever | Forex Factory

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Try Not To Lose 4% Per Day And 8% Of Your Account, Ever

  • #1
  • First Post: Nov 19, 2023 9:41am Nov 19, 2023 9:41am

"All dreams are valid" ~ Lupita Ny'ong'o


Seems like a bit too ambitious but notice that I concentrated on losing and not winning. The point is capital conservation.

I am on the seemingly impossible journey of never losing 8% ever on my account. It is through this thread that I intend to document my process in terms of thought and action to try to fulfill this goal.

I believe that if any trader can trade without losing 8% per month, that would be an incredibly successful trader. If that trader was to make any profits within the year, then they would be considered a great trader.

I do not intend to disclose my strategy but as all the trades will be documented real time that wont be hard to miss.

I believe the real devil is in the money management and risk management.

It is my honest belief that within 12 months even if I don't succeed in this goal, I will have gained some sort of discipline.
  • #2
  • Nov 19, 2023 10:52am Nov 19, 2023 10:52am
Quoting 12pips
"All dreams are valid" ~ Lupita Ny'ong'o Seems like a bit too ambitious but notice that I concentrated on losing and not winning. The point is capital conservation. I am on the seemingly impossible journey of never losing 8% ever on my account. It is through this thread that I intend to document my process in terms of thought and action to try to fulfill this goal. I believe that if any trader can trade without losing 8% per month, that would be an incredibly successful trader. If that trader was to make any profits within the year, then they would...
I tell you it is doable.

And risk mgt is indeed the holy grail. From proper pyramiding to exciting with profit even with only a few pips.

And you will find that you will have your own set of rules independent of what others say.

The key is, as the old invester would say, as long as you have a method to measure it.

Buy cheap, sell dear.
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Trading is gambling. So gamble responsibly.
  • #3
  • Nov 20, 2023 1:46am Nov 20, 2023 1:46am
We will get to the best system in due time.

For now, I have taken this short trade on XAUUSD. I think we will hit that first support after which I will move the SL to BE for the other two trades.
I am risking 0.5% on this position.
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  • #4
  • Nov 20, 2023 1:47am Nov 20, 2023 1:47am
Quoting 12pips
We will get to the best system in due time. For now, I have taken this short trade on XAUUSD. I think we will hit that first support after which I will move the SL to BE for the other two trades. I am risking 0.5% on this position. {image}
I would be interested in knowing how you pyramid
  • #5
  • Nov 20, 2023 2:54am Nov 20, 2023 2:54am
Risked 0.5% on this GBPUSD trade. Same as trade 1.
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  • #6
  • Nov 20, 2023 4:28am Nov 20, 2023 4:28am
I just went short EJ. I'm not very comfortable with the set-up since price is already below S1 but I hope to hold this one for a couple of days.

GJ hit TP1
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  • #7
  • Nov 20, 2023 6:28am Nov 20, 2023 6:28am
Risking 5% on GU 15mins to hit the daily Pivot Point

XAUUSD TP1 hit
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  • #8
  • Nov 20, 2023 9:33am Nov 20, 2023 9:33am
Quoting 12pips
Risking 5% on GU 15mins to hit the daily Pivot Point XAUUSD TP1 hit {image}
This was a loss. I put my stop too close.

By the way that was 0.5% risk.

I have re-entered short with a better stop
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  • #9
  • Nov 21, 2023 3:58am Nov 21, 2023 3:58am
Taken a short on xauusd looking to hit daily pivot point. Risk 0.5%

I am up 3.5% on the account and maximum daily loss yesterday was 1.35%
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  • #10
  • Last Post: Nov 21, 2023 4:02am Nov 21, 2023 4:02am
Risking 0.6% on GJ to hit daily pivot point
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