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End of this month was not good. On the last Friday I took a 5% loss which is extremely rare for me. I have been using a policy whereby I stop trading if I lose 4% in a day.

I was a bit cocky as I had so many winning trades in a row, I went almost 2 weeks without a losing trade. Then that Friday, I thought no way I could lose 5 trades in a row ... but it happened

I now have changed this rule to 3% loss to stop trading. I found the 5% loss quite hard to make up ie I ended up below target ie should have hit 50% but ended at 45%

I am absolutely convinced that making 2.4% per day is acheivable long-term for me ... I have been on track over the last 4 months for this (only traded 2 of those months )

But I have a personal goal I want to share with you. I would like to win the dukascopy monthly trading contest. Here it is explained:

http://www.dukascopy.com/swiss/engli...aders_contest/

here is may winner example:

http://www.dukascopy.com/swiss/engli...est/winnerMay/


I am trying to understand the 'time-weighted rate' method of calculating performance as this is what is used in the competition.

This is a rather ambitious undertaking as the winners are usually between 200-500% gain and the most recent was 1200%

I know I can do 50% in a month but how does one get to these larger values? The risk will be very large?

One idea I have is to risk the full gain in a one week period (eg 10-15%) in a single trade in the next week. If I did this, my typical gain of 2.4% on a 1% risk would become 24-36% ??

I would be interested in subscribing to your trading room Rob, but I know the time zone difference would make things difficult for me and a lot of others. How about in addition to the trading room, you could video record your trading session every day and make it available to your subscribers to download? In the video you could talk about your analysis, why you are taking the trade etc.


Just an idea!

I like to watch ducaskopy TV and their monthly contest, how you said their profits goes from 200% to 1200% amazing right?

I really want to see you there I wish all the best for you!

I desire like you to win that contest, but I'm not ready now

That's all very understandable stratman. I always thought you were very generous in the time you offered fledgling traders. Honestly, if you really can make around 2% per day on a consistent basis, you're set for life. I think most traders would give an arm or two for that sort of trading prowess. Although that might render the whole task of trading rather difficult...

Perhaps I can put forward a suggestion for a parting parcel for the traders, like myself, who have followed you to this point but have yet to achieve consistent profitability. I've watched almost all of your videos, but I never quite see the complete picture in regards to your approach to trades. Perhaps the time limitation on the video recording software you use is part of the problem, and the trades often seem a little isolated and cherry-picked.

I think an amazing package would be a couple of days of your full trading sessions in video format. You wouldn't need to narrate the entire time, but merely say what you're thinking as you go along your normal trading routine. Say 2 - 3 hours of trading session time. You could even charge a nice fee for it - say $100. I know I'd buy it, and I'm sure many other would as well. It would probably give you a great parting bit of capital to add to your trading account and speed you along your way to that first million. Don't think of it as profiting from your fellow traders - think of it as educating them and being properly remunerated for your time and effort. If you need software that allows longer video sessions, I can point you in the right direction.

As for your interest in the Dukascopy contest. My suggestion would be to stay clear of it. It encourages extreme risk-taking and is probably more trouble than it's worth. Stick to your moderate money management strategy and you'll have 10 of those watches in no time. 60 even. Remember, your $1000 will turn into $600,000+ if you trade every trading day of the year at your current rate.

Today I have purchase
Why is this?
How to setup？

I think a video package is a great idea and something I would buy!

My city was hit with a magnitude 7.4 earthquake at 4:30 am this morning. Power is off and lots of damage. I am sending this via mobile phone. My family are all ok and I'm glad that I was having a weekend back home to be with them.

There is no structural damage to my home but lots of mess around the place.

Sorry to hear that Strat, at least the family is safe.... oh GOD..did the computer with the new indicators get damaged?@!$$% Coz then it would be bad!!!!


Jus kidding ... see you when we see you

I am so sorry to hear of the earthquake, but so glad to hear that you and your family are ok, my thoughts and prayers are with you and yours.

fishman356

Just got home, logged on and saw what happened in your area. I'm glad you're okay and will be spending a weekend at home with your family. I send my thoughts and hope things will continue to be okay for you.

Steve

I just heard about the earthquake on my local radio station (Los Angeles). Glad your family is OK... hope the power come on shortly.

Great to hear you're okay stratman! No casualties reported as of yet, lets hope it stays that way! I'm sure we'll be sending you some emergency help from across the Tasman sea shortly

Fortunately we live in a relatively modern area of town ie the building codes are very strict with regard earth quakes because New Zealand gets a lot of earth quakes. My suburb now has the power back on and I am able to connect to the internet again. A large section of my city and external districts have not been so fortunate. Water supply is still a problem as water from our taps is very dirty and there is concern that it's contaminated with sewerage.

Ironically, I was living 10 min drive from Edgecumbe (North Island) in 1987 when a similar large quake hit. It is the place I have been working for the last few weeks. I return to the Edgecumbe factory again on Tuesday. That factory was completely destroyed in the '87 quake. Over the last couple of months I have experienced some reasonable quakes (in Edgecumbe) .. not unexpected but to have one in Christchurch of this size was very unexpected.

Hey Stratman, I am one of the often surfed never posted crew that frequent this site, Good to hear you & family are ok after the quake. Today I went out and bought the dashboard so think of it as a donation to the Stratman family Emergency Help rebuilding fund. I know it will repay me many times over, and something I've been meaning to do for a while. Thanks for all your efforts in the past & future. I was in Newcastle (NSW Australia) during the 1989 5.6 magnitude quake.

Glad to know you are ok, Stratman. Hope you and your family will move to an area not in earthquake zone. A trader can stay anywhere in the world with broadband connection.
Regards
chrisyeap

Hello Stratman,

My best to you and everyone else in that was affected by that earthquake.
I used to live in California, USA and have been in some earthquakes myself so I know what they are like.

Regards,
Jeff

I bought the dashboard because I think it would be the great tool for me.
and the skype room is where I can ask if I'm wrong with the dashboard.
I have already read the manual but I don't get the system so clearly.
If anyone have any advice for me please do so.
Sorry for my language is not very well.

Hi slack, I love your signature about the commercial forum ... funny thing is that I have the same viewpoint as you but it's the only place twee will allow me to be

Sorry that you are having problems. One important point is to realise that the dashboard is NOT a system of trading ... it is a tool to help you ie like the dashboard of a car helps you with your driving.

The manual for the dashboard explains the settings rather than how to use it for trading. My free videos are where I show my methods of trading. Hope these will help you as I have put a lot of effort into making them.

I will do more videos as soon as I finish my software contract approx 2 weeks from now. Immediately, I have other issues (earth quake) to sort before return to our North Island (Tuesday).