The best way to trade is one trade a day | Forex Factory

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The best way to trade is one trade a day

  • #1
  • First Post: Apr 3, 2010 3:44am Apr 3, 2010 3:44am
Hi,

I have found the least stressful way to trade forex is to make one trade a day. win or lose. Trail the stop. On good days I make over 100 pips one trade exit late on. Obviously bad days I am out with a loss and usually early on. But there hardly any screen time. So far it's been very porifitable.

The more often I trade the more often I seemed to lsoe money.
  • #2
  • Edited 5:59am Apr 3, 2010 3:56am | Edited 5:59am
Isn't it just losing at a slower rate ?
  • #3
  • Apr 3, 2010 4:08am Apr 3, 2010 4:08am
I have to agree with you stressfree. When I first started I was tearing it up, trading anything and everything. Now, having been perusing this sight for a couple years, reading, studying and digesting the better threads and info, I've learned that the ONLY way to profitably trade over the long term is slow and steady.
Take your time, pick your trades and pull the trigger.
As many have said, this isn't the quarter mile, it's a marathon..........

The trades will always be there, the money will always be waiting for you, just minimize your exposure( trade less), be picky and be patient.
  • #4
  • Apr 3, 2010 4:11am Apr 3, 2010 4:11am
Please give some more details about your system. I'm interested
  • #5
  • Apr 3, 2010 5:33am Apr 3, 2010 5:33am
Quoting stressfree
Hi,

I have found the least stressful way to trade forex is to make one trade a day. win or lose. Trail the stop. On good days I make over 100 pips one trade exit late on. Obviously bad days I am out with a loss and usually early on. But there hardly any screen time. So far it's been very porifitable.

The more often I trade the more often I seemed to lsoe money.
What are the requirements for entry? And Exit?
  • #6
  • Apr 3, 2010 5:38am Apr 3, 2010 5:38am
he's a winner because he's from london!!!!

that is a good idea though i know a couple automated systems which just sniper 1 trade per session and u know,,its just good money
  • #7
  • Apr 3, 2010 5:58am Apr 3, 2010 5:58am
Quoting Intensity
Aren't just losing at a slower rate ?
I kinda wanna ask the same thing...

No strategy means you are taking chances. It is no different from randomly entering a position in the market.
  • #8
  • Apr 3, 2010 6:33am Apr 3, 2010 6:33am
all this talk about overtrading has no base of justification. u will take ALL valid signals becos of this 1 reason i'm gona make.

for example u have a system 1:1 RR at 70% win rate. how do casinoes operate? they gain a small edge via probability and then the only other job they have is to bring in as much cash flow(customers) as possible so that probability goes in their favour. thus u are no different. when u find your edge, trade as much as possible within your rules. becos thats how u "normalise" your probability of winning. remember people the more trades u take, the more your probability count tends to ___% that ur system is supposed to give you.
  • #9
  • Apr 3, 2010 7:43am Apr 3, 2010 7:43am
fx is no way in hell fixed odds...just think of different times of day/state of the market. always be flexible

the 1 trade a day is good because:

-more picky in the trade.
-gets u away from revenge trading
-tiny 'psychological' exposure....u have the rest of the day to go about what u wanna do

bad because
-from a quant perspective, results can't really be significant, as u said above (but this can be a very two-way argument..what if the settings are to take first trade per x hours?)

this reason can be argued to and fro, but u gotta take the above positive points into consideration

and boiling down to it, if the entries are discretionary, then who will ever be able to quantify results/performance? as per the discretion, 1 trade a day would yield a higher win rate, maybe not higher ROI, but that's beside the point
  • #10
  • Apr 3, 2010 8:09am Apr 3, 2010 8:09am
Quoting yunielescaz
for example u have a system 1:1 RR at 70% win rate
you would be worth a million in a year starting with a very small account balance if you had such a system
  • #11
  • Apr 3, 2010 8:11am Apr 3, 2010 8:11am
Quoting sloanman
you would be worth a million in a year starting with a very small account balance if you had such a system
That's just wrong.
You should quit trading if you can't do basic maths.
  • #12
  • Apr 3, 2010 8:20am Apr 3, 2010 8:20am
how do u know if you're not even asking about frequency of trades?
  • #13
  • Apr 3, 2010 8:23am Apr 3, 2010 8:23am
Quoting Sim
how do u know if you're not even asking about frequency of trades?
Is that question directed to me ?
If it was, that's just the point of my remark to sloanman. A system "1:1 RR at 70% win rate" isn't enough info to make an assumption on the future performance...
  • #14
  • Apr 3, 2010 8:24am Apr 3, 2010 8:24am
yep I know but wasn't he taking it at face value of fixed 1:1 RR 70% winrate?
  • #15
  • Apr 3, 2010 8:28am Apr 3, 2010 8:28am
Quoting sloanman
you would be worth a million in a year starting with a very small account balance if you had such a system
211 days to be exact, 1k to 1mil

interesting that's around 1 trade a day, lool
  • #16
  • Apr 3, 2010 8:29am Apr 3, 2010 8:29am
Quoting Sim
yep I know but wasn't he taking it at face value of fixed 1:1 RR 70% winrate?
The frequency of the trade is important but so is the relative profit.
the "1 win : 1 loss ratio" could be a 0.005% gain or a 150 % gain. In this latter case, you lose one time and it's over.
  • #17
  • Apr 3, 2010 8:32am Apr 3, 2010 8:32am
well typically from assuming your win rate u then use some sense to risk 5-10% per trade...ur talking from a quan perspective no?
  • #18
  • Apr 3, 2010 8:33am Apr 3, 2010 8:33am
Starting with $1000 70% win rate 20pip SL + TP 5% risk $50 risk per trade, win 7/10 Net $35 per trade
  • #19
  • Apr 3, 2010 8:38am Apr 3, 2010 8:38am
Quoting Sim
well typically from assuming your win rate u then use some sense to risk 5-10% per trade...ur talking from a quan perspective no?
The other poster never made such an assumption, and neither did the poster of the 1:1 70% system.
  • #20
  • Apr 3, 2010 8:41am Apr 3, 2010 8:41am
no because as i said, if u have some sense

u have a 70% strike rate

what would u do? how much would u risk per position?

don't stray from this question hereafter either plz
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