The Trader Behind the Trade™

it should be based on calmar ratio. gains over max drawdown. Sure, nobody wants a trader with +50% drawdown, but that % is meaningless. I can easly reduce size to fit any prop firm's requirement-it doesn't change the system at all.

Nope. I can't hide them. tried logging off and i can see my open trades when i sync.

Tried suggesting to FF, they said that they wanted to keep traders honest..whatever that means.

So myfxbook is the only thing you can go by. my explorer is available once my last trade of the week is closed.

Myfxbook launching their own auto-trade service. This is going to be interesting

https://twitter.com/Myfxbook/status/...746304/photo/1

God I feel the blues man...

Every trade lost...those hard times..

You have to remember them so that you can move forward and keep improving

So Mike from Rapa cap intro got an update:

Dear RAPA members.

Oh boy its me again, I wouldn't bomb you with another email if I didn't have something important to say.

An investor has just given RAPA A$50,000 to allocate to 5 MT4 traders by the end of next week, i.e. Friday 18th. We will be allocating a larger sum of money at the end of March according to our RAPA Rankings, but the allocation next week will be open to a more open screening process than just the Leaderboard Ranking. By this I mean traders with track records of 3 months or more and a good story.

For those trading forex on the MT4 platform, wanting to manage a live account with A$10,000 and earn a 1%pa management and 10% performance fee, you need to do the following:

Post your story on your profile Wall, we want to hear it all, why you, what you have that is special, what effort you have made on "your journey"?
You must follow point 1, that is post your pitch on your Wall, not via email, not via Skype.
You need to upload your data and keep it current through the week so that we can follow your progress. The accounts must be live accounts.
My advice is to start these steps ASAP so we can start considering our best candidates. Have a great weekend.

Regards,
Michael Berman, Ph.D.
CEO & Co-Founder
www.rapacapintro.com


Now looking at the current leaderboard, you can see I at least make up the top MT4 guys (i don't think multiple accounts from the same user counts). Now if i'm not chosen..it must be that my story sucked as hell or that my DD is excessive. I need to get a good pitch prepared this weekend. wish me luck!

the maths at RAPA isnt attractive @ 10%, unless the account is enormous,
and if you were capable of managing a fund in the many millions, you'd have your own fund and take all profits

most prop firms are offering 50% or more, which is obviously much more attractive than 10%

true. I've read the arguments on elitetrader...

but 10% of something is better than nothing right?...if i do well at least this can be added to my trading 'resume'...

for sure, if you want to add it to the CV then it cant hurt

but i also think you have what prop firms are looking for in terms of initial stats; arent they showing interest, if you dont mind the question

I haven't really applied to any prop firms. I'm still looking for forex prop firms around my area-so far no luck

That's the key right there, the entire RAPA program is for emerging managers with zero AUM trying to make a name for themselves. This is especially hard to do in this industry without a long track record (3+ years) unless you come from an ivey school or have a GS on your resume.

So it's a start. And heck, once you're established you'd be looking at getting more of a 2/20 deal anyhow (with a few points shaved off to pay the capital introduction agent) so at least you're getting something in the same ballpark with RAPA to start off.

I do agree on the Prop sentiment for TPO's case, though he'd be a lot less independent if he went that route, so it's not for everyone.

great result there. Im glad to see that you didnt struggle as much as I did at the beginning of the week

Official World Cup 2014 theme song....

yup

I'm going to make a case why NocturnalFX stands out as a forex signal provider.


1. Transparency

You're not going to see a lot of signal providers giving you access to EVERYTHING except to open trades. You will not only see things like myfxbook and trade explorer, but you will also see my broker statements.

Why do i do this?

I've been in this game long enough to see the crappy scams in this business. They do things like-trading on demo accounts, not showing you their trade history, and flat out just use excel trade records.

I want clients to know that I am in the same shoes as they are. I want them to know that I'm a real down to earth trader risking a significant portion of my savings and that results of my trading affects my financial well being. So it's best that we connect through honesty and transparency.

2. Trades with S/L and TP

There seems to be two schools of thought in trading. The no stop loss-let your trades hit the crapper when things go against you crowd, and the use stop loss to protect your ass when trades go against you crowd. I'm in the latter group.

Most people are looking for that smooth increase in their balance. What's the best way to achieve that? NO STOP LOSS. But if you're a smart investor, you will look into their equity line. Most signal providers will have equity drawdowns in excess of 50%. Most people fail to see that-so these so called traders will get away with reckless trading.

When I trade, I ALWAYS put down initial stop loss and target profits. I may adjust them accordingly once in a trade to fit the market context-but you will NEVER see a single trade with open stop or target. IT's just best practice for me to first and foremost to PROTECT YOUR CAPITAL. I'm not going to let your money just floating in the market-let alone letting my own money be in the same predicament.

As Paul Jones (my trading idol) said in his long gone movie "Trader"

"Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your ass. That’s why most people lose money as individual investors or traders because they’re not focusing on losing money. They need to focus on the money that they have at risk and how much capital is at risk in any single investment they have. If everyone spent 90 percent of their time on that, not 90 percent of the time on pie-in-the-sky ideas on how much money they’re going to make. Then they will be incredibly successful investors."
Paul Tudor Jones - "Trader"

3. Behavioral Analysis

My system is not based on some magic combination of moving averages, RSI's, or some whacky repainting indicator. It is based on principles derived from auction market theory and orderflow trading. These principles will always work in the marketplace-

why?

because I trade by observing and reacting to trader's behavior in certian market situations. It's a new kind of analysis that's goes beyond statistics and economic news. I get inside the minds of the average trader-and anticipate their moves. It's a very subjective analysis-but I have structured it in way that 95% of my rules are mechanical in nature.

You can call my system - behavioral analysis- and my edge is PEOPLE


So there-
top 3 reasons why NocturnalFX is different from the rest.

Found a blog of a trader trading six figures-but the gains he's making makes you think that he's only trading with few bucks. Pretty crazy

http://zenfxtrader.wordpress.com/

interesting!

Dec also, wonder if he'll be around for long.

You only focus on his Dec loss. He doubled his initial $100K from Jun to Dec 2012, and despite the December loss, was still up +$100K which he withdrawn as booked earnings.

So starting Jan 2013, he is trading on bonus money and he quickly doubled it in Feb alone. So why do you still say "if he'll be around for long"? The Dec loss took him from $390K to $201K, before he withdrawn that $100K net profit. Yes, at $390K before Dec, he was up almost quadruple.

He'll be around for a long time. I've followed him on ForexLive for a while, he is good.

if you loose 48% in a month thats "alarm bells"

if you dont see that, your appreciation of risk of ruin is lacking

and in the first week of Feb., he made 116% gain

he's a cowboy

Read his blog. He explained how that loss came about. It's alarm bells to you, but considering he is someone who can double/triple/quadruple his account at ease, that 48% loss (not entirely his system fault) is relative. You are measuring him from your perspective, which is obviously quite different from his.

he reminds me of my old self when i turned 10k to around 50k in just few short months. If the market didn't turn against me and i wasn't such a hard head- i would've made to 100k or more easy.

MY biggest regret then was not that I was too aggressive. That was a given lesson for any trader just starting to make money. But it was not WITHDRAWING some of those profits regularly.

Now I am more conservative in my position size but more importantly -i withdraw regularly.

So i think mmaker is right-even if he loses-he's actually profitable-then maybe that would signal him to be more conservative. But to each his own i guess.

given industry standard amongst professional traders is about 10% return/ month, more than that is a signal to the risk manager that the trader "may" be trading outside of normal risk parameters

i couldnt be bothered dissecting this guys results in order to spell it out in detail, but if i were his risk manager, i'd be sweating

he might survive, but if he continues in his radical ways, he will not