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Phanti's 1-year flashback + guideline for newcomers

  • #61
  • Oct 15, 2011 10:40am Oct 15, 2011 10:40am
Quoting FFStudent
it was 1k as a try
and am trying to grow it
i wish i will
kk
Hero calls followed by margin calls...
  • #62
  • Oct 16, 2011 2:47pm Oct 16, 2011 2:47pm
Quoting PhAnTi'
kk

yess great work phant man.

great flashback 15% is done to become a good trader.

The most traders in FF are looking for great setups/systems/ea. They use 99% form her time.

My suggestion to ya: next step Psycho (70%) and Position Sizing (15%).

I wish you all the best - u know that - I´m very curious about the next flashback - may in 1 year

enigma4x
enjoy my life ... and ride the waves - all what I do
  • #63
  • Oct 16, 2011 3:12pm Oct 16, 2011 3:12pm
Quoting enigma4x
yess great work phant man.

great flashback 15% is done to become a good trader.

The most traders in FF are looking for great setups/systems/ea. They use 99% form her time.

My suggestion to ya: next step Psycho (70%) and Position Sizing (15%).

I wish you all the best - u know that - I´m very curious about the next flashback - may in 1 year

enigma4x
thanks a lot for your reply.
There will be another flashback next year as i even promised several weeks ago

take care,

all the best,

Jonas.
Hero calls followed by margin calls...
  • #64
  • Oct 19, 2011 7:53am Oct 19, 2011 7:53am
Quoting PhAnTi'
Please don't expect to make a living out of 1k account or even a 10k account.Start to think in percentages, try to make 1% a week for example.
Phanti/Jonas - I don't want to pick your first post apart but I disagree with the above quoted point.

People have been conditioned in to thinking they should be risking a little to make a little and be happy with a 1-4% gain a month; I read so much money management paraphernalia that suggests even smaller profit targets should be accepted as 'the norm' and making double digit gains over a year is unlikely.

Personally I take issue with such tight MM, it isn't disciplined or strict, it's a thin vale that retail traders hide behind and that once removed only serves to highlight a flaw i.e. a cautious approach to safeguard the individuals' lack of long term profitability and consistency.

I know that may sound harsh but it's the brutal truth and hence why so many people never make a living out of trading, and by living I mean able to to risk a decent portion of their account or true capital to make comfortable gains on a regular basis - the definition is loose because it carries less importance than the crucial point is being constant and profitable.

Traditional MM models are marketing spiel, you can find the same script in a thousand trading books, forums, websites and seminars the world over.

There's one good reason, and hence my use of the word 'marketing' above, they make trading look less risky and more accessible. It's a false economy.

Don't get me wrong however, I am not advocating people start off risking 5-10% of their account, I am however suggesting that people purporting to be 'professional traders' preaching such tight and timid MM are rarely what they preach. A good trader doesn't air of the side of caution they stick to their guns and conviction, and they make real money.

Yes, that comment (as with much of what I write) will offend many on here because it's sailing into the wind and against the tide, but I'm not here to nurture or empathise with any ego's, I have no motive or allegiance.
"I made all my money by selling too soon"
  • #65
  • Oct 20, 2011 10:20am Oct 20, 2011 10:20am
Quoting Bleek
Phanti/Jonas - I don't want to pick your first post apart but I disagree with the above quoted point.

People have been conditioned in to thinking they should be risking a little to make a little and be happy with a 1-4% gain a month; I read so much money management paraphernalia that suggests even smaller profit targets should be accepted as 'the norm' and making double digit gains over a year is unlikely.

Personally I take issue with such tight MM, it isn't disciplined or strict, it's a thin vale that retail traders hide behind and that...
Thanks for this post buddy,
valuable one.

I thought about it last 10 hours and got a completely new point of view regarding MM's etc....

the original post ( that one you quoted ) was to defend the newcomers from fatal losses and margin calls though i guess that there's nothing wrong making consistently pips and increase the equity on a solid level.

I absolutely agree with your point here ofc.

Thanks again,

regards, Jonas
Hero calls followed by margin calls...
  • #66
  • Oct 24, 2011 2:33pm Oct 24, 2011 2:33pm
Very good post, Bleek!

I risk 10% per trade on swings (but there are maximum 15 losses a year, they are far apart and the trade is often closed before 10% is reached, only once there were two losses next to each other).


I even want to experiment a little and start risking 25% eventually 50% on smaller account.

Tom Baldwin (Market Wizards) in the beginning risked the whole capital per 32 ticks in T-Bonds until he built enough money to reduce risk. I think it is smarter to do it that way, because building small account over years is hard and many unfortunately increase risk when they think they are confident and then loose their hard earned profits.
I found a penny today. That's +100 pips for me.
  • #67
  • Nov 9, 2011 5:12am Nov 9, 2011 5:12am
Quoting ReaM
Very good post, Bleek!

I risk 10% per trade on swings (but there are maximum 15 losses a year, they are far apart and the trade is often closed before 10% is reached, only once there were two losses next to each other).


I even want to experiment a little and start risking 25% eventually 50% on smaller account.

Tom Baldwin (Market Wizards) in the beginning risked the whole capital per 32 ticks in T-Bonds until he built enough money to reduce risk. I think it is smarter to do it that way, because building small account over years is hard and many...
IF you're consistent then you shouldn't be worried about such levels of risk, it's a big IF because how do you measure consistency; 1 month, 3 months, 1 year, 3 years, a decade? Or perhaps it's merely an instinct thing.

For the record I've not had a single negative profit month in the past two years. I had one pair at near breakeven, but another that swallowed that flaccid performance.

On my main account I risk around 10% and drop down to 5% each month, this was a gradual process as and when my capital targets were hit, my risk model is quite detailed but still remains simple to me. The gist of it is "make 1.25% on capital, increase risk 0.5%", over time that reduces the risk, obviously.

Why tail off risk if "I'm so good at trading", well regardless of how bad/average/good I am at trading I'm still only human, it's comfortable to see the risk tail off towards the end of a period (for me that's a month).

The one safe guard I do enforce is a maximum draw-down buffer i.e. what was my worse run ever, double it, then work out the probability, add a few more on top for good measure. This gives me a 'minimum margin to failure' i.e. how many losing trades in a row can my account handle - consider it a mental safety net.
"I made all my money by selling too soon"
  • #68
  • Mar 1, 2012 12:46pm Mar 1, 2012 12:46pm
guess i iwll edit the entire post soon )

remember:

This is just a guideline for the newbies here

Regards
Hero calls followed by margin calls...
  • #69
  • Mar 1, 2012 2:00pm Mar 1, 2012 2:00pm
Quoting Bleek
Phanti/Jonas -

Traditional MM models are marketing spiel, you can find the same script in a thousand trading books, forums, websites and seminars the world over.
And (finally) someone speaks the truth.
  • #70
  • Apr 6, 2012 11:25am Apr 6, 2012 11:25am
.
Attached File(s)
File Type: pdf trading E-Book.pdf   195 KB | 1,738 downloads
Hero calls followed by margin calls...
  • #71
  • Apr 6, 2012 11:46am Apr 6, 2012 11:46am
password?
'To get something you never had, you have to do something you never did.'
  • #72
  • Apr 6, 2012 12:11pm Apr 6, 2012 12:11pm
Quoting crazzzzzy
password?
this is only demo one...wanted to try something...but if you like to , password is phanti

complete e-book will be published around may
Hero calls followed by margin calls...
  • #73
  • Apr 6, 2012 12:36pm Apr 6, 2012 12:36pm
Quoting PhAnTi'
this is only demo one...wanted to try something...but if you like to , password is phanti

complete e-book will be published around may
I don't know why but it does not work...
  • #74
  • Last Post: Apr 6, 2012 12:51pm Apr 6, 2012 12:51pm
Quoting maximus2005
I don't know why but it does not work...
sry, Phanti , capital P
Hero calls followed by margin calls...
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