Money management test

What makes a trader truly successful over the long term of his/her trading career. And what makes a trader different then a gambler.. i believe the edge to be purely in money management so im going to test that... hopefully ill find something useful. each MM style will get 1000 trades and the same entrance type..

we enter long at a 50% retrace of a leg that has broken the previous waves high.

we enter short at a 50% retrace of a leg that has broken the previous waves low.

the first MM type is a simple stop over the swing high or swing low and a take at multiples of risk..

will test 3,4,5,6 time risk and a new trade cant be opened till the previous trade is closed

Hi Domino,

I have been trading for years, and it is true that MM is vital.

But is also very important to have a good system, that you follow religiously.

So:

1) Good system
2) Discilpine
3) Money Management

= Golden triangle.

Excel FX

yeah ive been trading for about 5 years probably about 3.5 of them profitably but ive always had this feeling that its my MM that does all the real work not the system and i just want to run a series of tests that determines if thats it or not. we are always trying to learn .

Sounds great.

first trade proc'd GBP/CAD long
STOP 111pip
TAKE 333pip

with 3 times risk we can say if we win more than 25% of the time we make money.

EUR/Jpy proc'd at 129.665 short

Aud/NZD proc'd at 127.827 LONG

GBP/USD LONG 152.25

GBP/USD

LOSS

week start

win-0
loss-1
pending-3

What happened to this thread? Still alive?

Yes, interesting thread; what happened to the other positions?

What did you infer from your test, Domino (if you want to share)?

Happy trading to all.