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Proof That Ultra Profitable Trading Is Indeed Possible

  • #361
  • Jan 4, 2013 6:41am Jan 4, 2013 6:41am
Quoting Supertrader9
Thanks chicky. Yeah last time i wen't 'mad' with risk. This time i still go the risky route but not as risky as before. This account is geared for high risk high reward. In the future i will trade smaller so i may decrease the drawdown.

P/s Anyone should not be shocked if the account's drawdown is up to 60% because it is geared to be that way. Last account was not sustainable. I believe this account's growth is sustainable and this time i know what i'm doing
Accumulate drop by drop. The power of compounding will get you there. I lost such opportunity in my early days, had I strictly followed my rules would have been today sitting on my target of $53 million, starting from initial capital of $7,000.
The Thief of Wall Street
  • #362
  • Jan 4, 2013 10:19am Jan 4, 2013 10:19am
Quoting Chicky
Accumulate drop by drop. The power of compounding will get you there. I lost such opportunity in my early days, had I strictly followed my rules would have been today sitting on my target of $53 million, starting from initial capital of $7,000.
Yes i would do just that. In about three years the amount should be significant.
  • #363
  • Jan 4, 2013 12:46pm Jan 4, 2013 12:46pm
Quoting shaneo
Hi SuperTrader,

I like your mindset.

I don't like your name.

Anyways, seeing this is a journal, where are your trades and reasons. Thought I'd ask.

Shane
Hi shane,

I have linked my myfxbook account here on the first page.
  • #364
  • Jan 4, 2013 12:48pm Jan 4, 2013 12:48pm
One simple advise which i can give to most is to devise a system with at least 1:1 ratio. More is better but the rr must not be less than 1:1.
  • #365
  • Jan 4, 2013 8:12pm Jan 4, 2013 8:12pm
I have just update it
  • #366
  • Jan 4, 2013 11:58pm Jan 4, 2013 11:58pm
Quoting Supertrader9
I have just update it
http:// is missing. It does not appear as a link.
The Thief of Wall Street
  • #367
  • Jan 5, 2013 12:10pm Jan 5, 2013 12:10pm
Quoting Chicky
http:// is missing. It does not appear as a link.
I don't know why it doesnt appear as a link.
  • #368
  • Jan 5, 2013 11:51pm Jan 5, 2013 11:51pm
Quoting Supertrader9
I don't know why it doesnt appear as a link.
"BB code url is not allowed" We cannot have an external url link in our signatures.

The best alternate is to have it this way:

"Click here to see my trade explorer"

or

"See my trade explorer here"
The Thief of Wall Street
  • #369
  • Jan 6, 2013 10:33am Jan 6, 2013 10:33am
Quoting Chicky
"BB code url is not allowed" We cannot have an external url link in our signatures.

The best alternate is to have it this way:

"Click here to see my trade explorer"

or

"See my trade explorer here"
BB code was not allowed...i don't know why
  • #370
  • Jan 8, 2013 9:53am Jan 8, 2013 9:53am
If you can master your internal self, you can be wildly profitably. You just need to be able to recognise patterns(the psychology of the current market), what the sentiments are. Keep your analysis simple and CONSISTENT. CONSISTENCY IS THE MOST IMPORTANT PART OF TRADING. You must know the worse case scenario of your system. Backtest it for a few years. Then create a mm suitable for your system while acknowledging the worst case scenario.

The main focus should be what should i do so my account never get destroyed either by whipsaws or spikes. MANAGE YOUR RISK FIRST, because you won't have any profit if you don't do that. So a good discretionary trading system is the one which has some degree of repetition/consistency in its execution. Your system is not a system if it doesn't have consistent approach, example only buy in an uptrend.

Tips: Trade with a moving average and nothing else. Be philosophical with your trading decision(deep thoughts). Make a reason why you should take the trade. Be a consistent winner. Nobody can teach you that. Only you can.
  • #371
  • Jan 8, 2013 10:52am Jan 8, 2013 10:52am
Over the last 50 years, Warren Buffet, one of the world greatest traders achieved and average return of 20% per year. Believe me if you can make 20% of your account per year, then you are among the top traders in the world, and almost all mutual funds will beg you to manage some accounts for them... 20% per year equals an average of 1.66% per month (without compounding).

- http://www.forex-trading-relief.net/...l-Trading.html
  • #372
  • Jan 8, 2013 5:27pm Jan 8, 2013 5:27pm
Quoting Supertrader9
Over the last 50 years, Warren Buffet, one of the world greatest traders achieved and average return of 20% per year. Believe me if you can make 20% of your account per year, then you are among the top traders in the world, and almost all mutual funds will beg you to manage some accounts for them... 20% per year equals an average of 1.66% per month (without compounding).

- http://www.forex-trading-relief.net/...l-Trading.html
I remember reading somewhere that his target was 5% a month that he could never achieve. Its all in planning longer term,........... trading or anything. The rate at which I am going, will be a billionaire on my 317th birthday.
The Thief of Wall Street
  • #373
  • Jan 8, 2013 10:11pm Jan 8, 2013 10:11pm
Quoting Chicky
I remember reading somewhere that his target was 5% a month that he could never achieve. Its all in planning longer term,........... trading or anything. The rate at which I am going, will be a billionaire on my 317th birthday.
He is a good risk manager which is what a good trader should be. You need to start working more then.
  • #374
  • Jan 9, 2013 9:56am Jan 9, 2013 9:56am
I had many feedbacks telling me to reduce my size and some said i am gambling because i have 31% drawdown after one week of trading. Therefore i am going to reduce my size/risk by 16%.
  • #375
  • Edited 12:06pm Jan 9, 2013 10:25am | Edited 12:06pm
Quoting Supertrader9
Over the last 50 years, Warren Buffet, one of the world greatest traders achieved and average return of 20% per year. Believe me if you can make 20% of your account per year, then you are among the top traders in the world, and almost all mutual funds will beg you to manage some accounts for them... 20% per year equals an average of 1.66% per month (without compounding).

- http://www.forex-trading-relief.net/...l-Trading.html
Warren Buffet is not a trader hes an investor theres a very big difference. His style is very similar to that of a mutual fund its longer time buy and hold strategy. When it comes to traders that work on trading desks the good ones returns are much higher than most would think, the problem is the failure rate on the professional level is still insanely high so when you average out all the losing traders on the desk from the profitable ones if the desk is ran well they wil end up beating there benchmark by a few percentage points.
It works till it doesn't
  • #376
  • Jan 9, 2013 11:59am Jan 9, 2013 11:59am
Quoting Supertrader9
I had many feedbacks telling me to reduce my size and some said i am gambling because i have 31% drawdown after one week of trading. Therefore i am going to reduce my size/risk by 16%.
just being curious ....how much do you risk per trade?
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #377
  • Jan 9, 2013 7:23pm Jan 9, 2013 7:23pm
Quoting DaEdge
Warren Buffet is not a trader hes an investor theres a very big difference. His style is very similar to that of a mutual fund its longer time buy and hold strategy. When it comes to traders that work on trading desks the good ones returns are much higher than most would think, the problem is the failure rate on the professional level is still insanely high so when you average out all the losing traders on the desk from the profitable ones if the desk is ran well they wil end up beating there benchmark by a few percentage points.
Yup, i consider him as a trader with a different strategy than most. Because after all isn't investing/trading involves buying and selling?
  • #378
  • Jan 9, 2013 7:23pm Jan 9, 2013 7:23pm
Quoting pemully
just being curious ....how much do you risk per trade?
Few percent of the account. Well it depends on the setup.
  • #379
  • Jan 9, 2013 8:46pm Jan 9, 2013 8:46pm
Quoting Supertrader9
Yup, i consider him as a trader with a different strategy than most. Because after all isn't investing/trading involves buying and selling?
It's a little different because he's not buying the same stock that you buy through a broker, on that level you buy preferred stock not common stock. Prices, dividends & voting rights are very different between the two.
It works till it doesn't
  • #380
  • Jan 10, 2013 4:32am Jan 10, 2013 4:32am
Quoting DaEdge
It's a little different because he's not buying the same stock that you buy through a broker, on that level you buy preferred stock not common stock. Prices, dividends & voting rights are very different between the two.
Yes
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