What does Abs. gain mean?

Hello,

Can someone please tell me what Abs. Gain means as it is used on myfxbook: https://www.myfxbook.com/portfolio/play/33639

Thanks

Hope so you don't trade that stuff with a real account.

Symbol: EURUSD
Action: Sell
Units: 282500.00
Open Price: 1.22098
TP: 1.21830
SL: 1.24750

With an account size of $8,394 this would be a leverage of about 33:1. You'd get a margin call at 1.23831 so that stop loss is, well, useless.

Anyway to your question: http://www.myfxbook.com/help#help_11

Thanks Xaron,

Yeah, i dont mind margin call.

Even if i lose half the account, i am still 400% ahead

Fast growth can handle margin calls

That's true, indeed. At least if the MC doesn't come at the beginning.

I am leveraged at 50:1

True, but only need to double it once to get it back and this system gets 100% daily

I doubt that.

Let me explain why I doubt that: You go for about 20-30 pips with a risk of about 250 pips. Sure, this will work most of the time...

it does

ATR 200 or so.

I'll tone the leverage down on my real account but no 2% for me.

The big boys didnt make their millions with 2% and conservative bets.

They only get conservative with other peoples money and feed on comissions.

Little fish need more risk or they'll be pushing buttons like rats trying to get a piece of cheese until their dead.

When you learn how to scalp momentum moves, you don't need more than 10 pip stops..and your trades last less than 10-20 seconds. I do it all the time. But you can't do it watching candle charts. Oh, and you need a broker that can fill you on extremely fast moving markets..luckily I have a good one. 250 pip stops with 20 pip targets is not a good plan.

Ask someone to write that down on your tombstone after you lose all your money.

I've been trading forex for almost a year now and I've come to realize even 10k lots can kill you if you have a small account (and by small I mean less than USD 10K. And I almost came close to wiping my entire account.
Edit: And forget about lowering your leverage. It's the size of the lot that kills you.

Thats whats good about oanda.

Lots can be any size. From 64 units to 64000000 units.

OK, well it's actually 1 unit to 10,000,000 units, but I get your point.

If you want to talk more about your strategy, that's what folks around here are interested in looking at.
Just an overview of strategy is fine... we don't need every last detail.

Yeah, i just made those numbers up as an example.


I just bet on pinbars and double tops and bottoms leveraged at 50:1 with stops set behind the pins. Only bet with the trend, never against it.

Stops vary but reward comes 80% of the time.

I usually stop trades out if they go against me early so the losses are kept small.

Grew an account by 800% in 1 week.

Too chicken shit to do it on my real account.

https://www.myfxbook.com/portfolio/real/34443

As you can see, one day of trading with real money and i made 0.34%

But as my confidence builds, i will keep increasing leverage until i am doing what i did with the play money account.

I know its risky, but its really the only way to turn 5000 into 50000 in a year.

Kovener turned 3000 into millions and i'm sure he would laugh at conservative money management with such small accounts. Money management is great if you are playing with big money, but small account need big balls.

Worst case scenario is you lose the lot but your account was so small in the first place that it wont hurt that bad.

Alright, well it sounds like you have a handle on what you're talking about. That's a lot better than some of the dreaming that goes on around here.

So, I'll wish us both the best of trades!

They may vary but by your above statements of


8*26.8= 214.4 pip gain for 2*265=530 pip risk

Yup, sure does! Good luck

I only let it go that far because it had a high probablility of coming back and was on lower leverage that trade.

I've got nothing to prove.

If i lose $5k, lesson learned, if i make 50k, woopdee doo for me.

here's my abs gains