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Are you a consistently profitable trader?

  • #481
  • Jul 8, 2012 9:08pm Jul 8, 2012 9:08pm
Quoting FX4Newbies
T..... Have been going through some of your other posts...good stuff (except for those crazy pics)........
FX4
you mean the "art work" on cesarnc thread?....hahahahaha. i have always thought those were the best part. especially that of roro53.


Quoting FX4Newbies
No probs...but not a sir :giggle:

By the way, about how many pairs do you watch/trade? Do you swing trade H4? ...........
yes, i do swing trade h4.

how many pairs? i have attached a screen capture below. it shows pretty much everything....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2012-07-08_21-59_OANDA.jpg Size: 183 KB
Click to Enlarge Name: 2012-07-08_22-00_OANDA.jpg Size: 160 KB
" It may mean something. It may mean nothing at all "
  • #482
  • Edited 6:01am Jul 9, 2012 12:26am | Edited 6:01am
Quoting Skynet
you mean the "art work" on cesarnc thread?....hahahahaha. i have always thought those were the best part. especially that of roro53.




yes, i do swing trade h4.

how many pairs? i have attached a screen capture below. it shows pretty much everything....
Seems as though you look at everything the broker offers. Do you actually trade them all...not at the same time I'd imagine if you did trade them?

Now how did you know which pics I was referring to? LOL. I really don't think they have a place in a trading forum...mho. Can't agree with you that "those were the best part". Anyway...

Swing trading on H4 is a good way to go...once a trader's got the guts for the swings in their P/L.

Take care and trade well this week.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #483
  • Edited 6:12am Jul 9, 2012 5:51am | Edited 6:12am
Quoting LaurenceDale
I work on a case by case basis - but working to a target return is generally a trouble maker, unless you can sell down capital.

For example, Grandparent leaves an investment fund to pay for the grandson's college fees. Needs investment to yield 7%. If we get more than 7, great - It gets reinvested. If we dont, then the initial capital is sold up to the required ammount.

If someone invested £100,000 with me, I could get them a 20k income per year - but the capital may be all gone by year 6/7!

So, FX4 - What is your number? What percentage...
Hi LaurenceDale,

I can imagine how working to a target can get hairy.

At this time, I don't have a "number" that I need to return every month. Lately I've just been working on trading my method well and whatever the return is it is. Last month, with light-moderate trading, I came close to double digits. When I have more focused time, I'm sure it will be higher. The highest I've reached is 400% over about a 6-week period...just sitting there and clicking when I saw my edge: minimal emotions; no thinking; just clicking...and I was also trading someone else's account (before all the regs were changed). On my way back there .

Any month that ends with a +% is a consistently profitable one to me. The actual percentage doesn't make that determination as so many variables could have been involved. Those need to be given consideration. Having the most profitable month possible is also the aim.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #484
  • Jul 9, 2012 8:40am Jul 9, 2012 8:40am
Quoting FX4Newbies
Hi LaurenceDale,

I can imagine how working to a target can get hairy.

At this time, I don't have a "number" that I need to return every month. Lately I've just been working on trading my method well and whatever the return is it is. Last month, with light-moderate trading, I came close to double digits. When I have more focused time, I'm sure it will be higher. The highest I've reached is 400% over about a 6-week period...just sitting there and clicking when I saw my edge: minimal emotions; no thinking; just clicking...and I was also trading...

Makes sense to me.

Interesting point there about no thinking - just clicking.

I place between 5-10 trades per month. I do work from a 'system' to spot my entries, but it's very basic. Essentially I look for what is trending, then place market orders for trend continuation on every pullback on the dailies. I do tend to overanalyse some trades and talk myself out of setting the orders.

Sadly I've got a sales manager breathing down my neck, so lower timeframes arent really an option during days when I'm in office - So potentially watching more instruments may be the next step.

I know quality is more important than quantity, but if you have an edge that is consistent over all markets/instruments/timeframes - just placing more trades is key? (assuming spreads dont reduce the long term profitability to 0)

To do 400% on a 6 week period, you'd either have massive leverage, amazing risk/reward or tons of trades - Right?

Regards,

LD
  • #485
  • Edited Jul 10, 2012 6:20am Jul 9, 2012 8:57am | Edited Jul 10, 2012 6:20am
Quoting LaurenceDale
Makes sense to me.

Interesting point there about no thinking - just clicking.

I place between 5-10 trades per month. I do work from a 'system' to spot my entries, but it's very basic. Essentially I look for what is trending, then place market orders for trend continuation on every pullback on the dailies. I do tend to overanalyse some trades and talk myself out of setting the orders.

Sadly I've got a sales manager breathing down my neck, so lower timeframes arent really an option during days when I'm in office - So potentially watching more...

LD,

Five to ten trades per month trading a longer time-frame seems reasonable...two or three a week. The human element can get in through that over-analysis...it happens.

Having a sales manager "breathing down your neck" is no fun...but it's one of the issues involved when one enters that professional world.

An edge that is consistent as you have described (that works on any TF or instrument) just needs to be executed.

To do that 400%...I used 1:400 leverage and no more than 25% of the capital (hope I'm right on that capital usage as it's been a while) on those trades that I watched (stalked) and waited for...not tons of trades as one might expect. Think I did between 1 and 3 a day. Some traders would use even more capital if they "knew" they had the market "by the tail" so to speak. I also had a string of consecutive wins....no thinking: just clicking . Concentration is very important. Good trading demands focus.

Regards,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #486
  • Jul 15, 2012 11:58am Jul 15, 2012 11:58am
Thus far for July, a little bit of an increase in the Consistently Profitable category and a decrease in the category for those who have never been, which results in an increase in the Consistently Profitable category. This is being compared to June's poll.

"applause"

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #487
  • Jul 15, 2012 1:46pm Jul 15, 2012 1:46pm
Quoting FX4Newbies
Thus far for July, a little bit of an increase in the Consistently Profitable category and a decrease in the category for those who have never been, which results in an increase in the Consistently Profitable category. This is being compared to June's poll.

"applause"

FX4
Unless I pull of a miracle, July is looking to be negative taking me out of the profitable, the universe has found balance
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #488
  • Edited 2:36pm Jul 15, 2012 2:24pm | Edited 2:36pm
I trust numbers more than...

YTD
Win 56%
RR 1.43
Max-DD 9,87%
72 Trading days
6,2 trades/day

My risk% or $ result is irrelevant so do not ask.

You guys should say yours ?

btw. And how about the bad habits? Well I occasionally start to fight back the loosing day making my broker little a bit richer
  • #489
  • Jul 15, 2012 2:27pm Jul 15, 2012 2:27pm
Quoting Prosentti
I trust numbers more than...

YTD
Win 56%
RR 1.43
Max-DD 9,87%
72 Trading days
6,2 trades/day

My risk% or $ result is irrelevant so do not ask.

You guys should say yours ?
Sorry changed broker 4 weeks ish back and lost all previous history.

* edit Well back to FXCM Standard account rather than Micro!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #490
  • Jul 16, 2012 2:20pm Jul 16, 2012 2:20pm
Quoting Turveyd
Unless I pull of a miracle, July is looking to be negative taking me out of the profitable, the universe has found balance
You still have about two weeks left. Just focus and swing hard when you see your edge.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #491
  • Jul 16, 2012 2:23pm Jul 16, 2012 2:23pm
Quoting Prosentti
I trust numbers more than...

YTD
Win 56%
RR 1.43
Max-DD 9,87%
72 Trading days
6,2 trades/day

My risk% or $ result is irrelevant so do not ask.

You guys should say yours ?

btw. And how about the bad habits? Well I occasionally start to fight back the loosing day making my broker little a bit richer
Numbers are always nice. I'd be curious to see mine when my daily schedule becomes a bit tamer. Last month was positive, but I know it is not close to what it can be. Nothing can replace focused trading time.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #492
  • Jul 16, 2012 7:57pm Jul 16, 2012 7:57pm
Quoting FX4Newbies
You still have about two weeks left. Just focus and swing hard when you see your edge.

FX4

Those poor brokers in the city need my money for Ferrari's and the like without that they'd all commit suicide, got to give back occasionally, give them false hope!!

A single 100pip DAX trade will recover it, ofcourse odds on me holding past +20 are low
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #493
  • Jul 17, 2012 11:58am Jul 17, 2012 11:58am
maybe this is only post in this thread

as you know trader always said trend is your best friend. therefore you asking your self this question.

are you trade within a trend?

if yes, then your winning rate will be high.

currently I loss money, just my ego caught me...

BTW, as my time zone is not a good time zone to do trade, I am at West Cost of North America.
  • #494
  • Jul 17, 2012 12:41pm Jul 17, 2012 12:41pm
Quoting mtuppers
maybe this is only post in this thread

as you know trader always said trend is your best friend. therefore you asking your self this question.

are you trade within a trend?

if yes, then your winning rate will be high.

currently I loss money, just my ego caught me...

BTW, as my time zone is not a good time zone to do trade, I am at West Cost of North America.
Hi Mtuppers,

Ego will get a trader every time...been there more than once LOL. Trading on PST is tough...just gotta find what works for you and work with it...my 2 cents.

Thanks for sharing,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #495
  • Jul 17, 2012 2:22pm Jul 17, 2012 2:22pm
Those poor brokers in the city need my money for Ferrari's and the like without that they'd all commit suicide, got to give back occasionally, give them false hope!!

LoooL

Im being giving to the brokers in the city for 18 months, it's about time they started giving me some pip's back....
  • #496
  • Jul 22, 2012 6:59pm Jul 22, 2012 6:59pm
A question...do you know what your emotional stop is? Wondering why I asked the question? Well, humans tend to have a built-in emotional tolerance for risk. The market might have an idea what we can tolerate. So, there are times the market just might take a trader there. Some traders have developed "ice in their veins"...not a bad quality for a trader to have .

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #497
  • Jul 30, 2012 6:23am Jul 30, 2012 6:23am
Quoting FX4Newbies
A question...do you know what your emotional stop is? Wondering why I asked the question? Well, humans tend to have a built-in emotional tolerance for risk. The market might have an idea what we can tolerate. So, there are times the market just might take a trader there. Some traders have developed "ice in their veins"...not a bad quality for a trader to have .

FX4

Although I always set stops for trades - If I see a total drawdown of 30% (live or demo) - Then it's time to stop and find out what is going on.

This happened once in the early days of trading live although it was completely deserved. I remember it well (although a bit foggy) - Trading (gambling) without charts on my laptop from a hotel bar in Beijing with a bunch of equally drunken friends. Good times!

If you risk 1% each trade - I think 30% drawdown is very possible even when correctly applying a working edge. Tough to stay faithful to your system then. Seeing the roulette wheel come up red 30 times in a row is not as uncommon as you might think. I know the odds are different - but the point is the same.

Regards,
LD.
  • #498
  • Jul 31, 2012 5:52pm Jul 31, 2012 5:52pm
Nice thread I like your blog its a good read.

Yes I am consistently profitable
  • #499
  • Jul 31, 2012 7:32pm Jul 31, 2012 7:32pm
Quoting LaurenceDale

This happened once in the early days of trading live although it was completely deserved. I remember it well (although a bit foggy) - Trading (gambling) without charts on my laptop from a hotel bar in Beijing with a bunch of equally drunken friends. Good times!
Yes, I had a similar experience. I remember it very well but not all that well.

Only we were at a strip club in Bangkok. My buddies wanted to know what trading was. I told them it was simply gambling and proved myself by placing random trades.

Even though I lost my arse, it was great fun.
At times, I want to go back and relive that time (and in fact, think I have).


Intended for humor only; please do not take offense
When the Joker is in the deck.. fear not and play it well
  • #500
  • Aug 1, 2012 7:37am Aug 1, 2012 7:37am
Very interesting thread so far I'm surprised so many in here are successful.
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