For what it's worth ..... I think most everybody makes trading far more complicated than it really needs to be. And they are full of unrealistic expectations.
Same Whore .... Different Dress
- #21
- Nov 19, 2008 10:41pm Nov 19, 2008 10:41pm
- | Membership Revoked | Joined Dec 2005 | 2,298 Posts
Same Whore .... Different Dress
- #22
- Nov 20, 2008 12:14am Nov 20, 2008 12:14am
Sorry People half asleep over here in OZ,
One other thing I forgot to mention is that you really need a good trading plan, as they say if you dont plan to win then you are already planing to loose.
If you type "Trading Plan Template" in the search function at the top of the page you will find numerous posts about trading plans, I have gone through a few but would recommend the thread "trading plan template started by Isotonic".
hope this helps
cheers
.I can make any return I wish per month, by increasing my risk on each trade. For example, let's say I start with $10,000 in my account, and I risk 1% ($100) per trade. At the end of the first month, my balance is $10,500, which is a 5% gain, but along the way it went as low as $9,800, which is a drawdown of 2% (i.e. $200).
If I'd been willing to risk 2% per trade, then my returns would have been doubled (balance would be $11,000, or 10% gain), but my drawdown would have been doubled also (low balance would have been $9,600, or 4% drawdown).
At 3% risk per trade, monthly return would have been 15%, but with 6% drawdown.
And so on.
For what it's worth ..... I think most everybody makes trading far more complicated than it really needs to be. And they are full of unrealistic expectations.
, the more the opinions the better for me, so could you please elaborate on that ?)