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  • #581
  • Edited 2:10pm Apr 30, 2013 1:40pm | Edited 2:10pm
Quoting mmaker
{quote} Accredited investors and big money wouldn't be on this forum either. Signal providers and forex educators target the retail public, offering services for $100/mth or $250/mth and showing as you said straight line ascending equity curves. I'm sure you have seen Myfxbook accounts with $300 or $1000 growing 300% and those are intended for retail consumption, people paying them subscription fees. Signal providers wouldn't be able to attract accredited investors. Similarly accredited investors wouldn't be looking at the vast amount of signal...
Yup, no need to tell me, as I said (to paraphrase,) the people targeted by signal services on the retail level aren't on the same wavelength as accredited investors. The money is in high AUM x MER, and the only way to get that is to cater to whale investors that are a heck of a lot more savvy.

You're well researched, and critical (in a good way, not just directly negative) so I have a feeling you'll do fine in this game in the long run. Even if you don't trade directly and instead act as more of an investor/subscriber.
FXGears.com
  • #582
  • Edited 2:33pm Apr 30, 2013 1:42pm | Edited 2:33pm
Quoting Seneca pilot
{quote} Trading is easy. Having the discipline to take your hits is damn hard. Most people are not equipped. Most people will at some point break down and start to fight the market or pull their stop and let it ride down. The part between the ears is the key to this. I differ from Jack in that I think eventually auto trading will take over. With stories in the news like the Madoff scandal I would think that very wealthy investors would prefer a model that allows them to maintain complete control of their money and allow the asset manager to do the...
Read the articles at RAPA Cap Intro where they discussed this point about trader selection and drawdown percentages. TPOTrader is Number 16 on the Minor League.

Quoting Seneca pilot
{quote} Risk adjusted return is their biggest metric as I understand what they are willing to divulge about their ranking system. In RAPA it seems a slower system with low risk is going to be rated higher than a fast grower with large position sizes and bigger drawdowns. Attracting big investors is as much about the gains you can keep as it is about the original gains.
The top guys in their Major League rarely has drawdown exceeding 10%, that Kevin Saunders with his five managed accounts barely made 14% growth. Not something you see on Myfxbook or Currensee where the leaderboard had drawdowns 30-40% but growing equity 300-1000%.
No longer trading forex. Looking for full time job.
  • #583
  • Apr 30, 2013 1:51pm Apr 30, 2013 1:51pm
Quoting mmaker
{quote} Read the articles at RAPA Cap Intro where they discussed this point about trader selection and drawdown percentages. TPOTrader is Number 16 on the Minor League.
Risk adjusted return is their biggest metric as I understand what they are willing to divulge about their ranking system. In RAPA it seems a slower system with low risk is going to be rated higher than a fast grower with large position sizes and bigger drawdowns. Attracting big investors is as much about the gains you can keep as it is about the original gains.
  • #584
  • Edited 10:50pm Apr 30, 2013 10:24pm | Edited 10:50pm
The RAPA info has been very helpful, thanks guys.

What is the process to get approved for 4 to 1 matching on deposits? Do they tier the matching or is it the same for every approved trader? I'm assuming a minimum of 3 months trading history with a low drawdown, from what I gathered from the website, but still unsure.

TPOtrader you will get that equity high shortly. You did it twice, no reason you can't do it again. Keep looking up.

Adam
See our myfbook results. Our username = MPC
  • #585
  • May 14, 2013 12:12pm May 14, 2013 12:12pm
any updates? please don't let the thread die.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #586
  • May 19, 2013 2:27pm May 19, 2013 2:27pm
Quoting pemully
any updates? please don't let the thread die.
I was following TPOTrader on a MyFXBook Autotrade demo. I was just messing around with Autotrade since it's new and I wanted to see what all the fuss was about, so I tossed on TPOTrader and a few of the top 10's... overall I like the concept but find a lot of sore spots with MyFXBooks implementation (namely, lack of broker choice, and the only broker available has spreads so wide that the results you see on the signal provider side are not realistic with the broker spreads you get.)

I got a notice recently that MyFXBook has removed TPOTrader's feed from their autotrade server for no longer meeting the requirements set to be part of the program.

If I was a live client, I'd be upset that I couldn't opt to stay with TPOTrader's signal feed, and I wasn't even given an option to accept the additional risk through signing a waver or something. I mean, if you were an investor, comfortable with the risk, knew the method and strategy well, and wanted to give the signal provider a chance to recover, you don't even get an option to stick around.

--

TPO, you'll do well, just relax and take things slow. Forget about the drawdown and just focus on trading well on a trade-by-trade basis. Ignore your P/L, how well you execute the next trade is all that matters. You've already proven you can gain some upside, but this is the hard part, managing drawdowns.

Cheers bud!
FXGears.com
  • #587
  • May 21, 2013 10:44am May 21, 2013 10:44am
TPO, where did you go?
See our myfbook results. Our username = MPC
  • #588
  • May 21, 2013 10:55am May 21, 2013 10:55am
he has taken another massive hit today. it doesn't look good.
I believe the system has performed outside the backtested boundaries and he should take it offline.

hope he bounces back.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #589
  • May 21, 2013 12:30pm May 21, 2013 12:30pm
Quoting pemully
he has taken another massive hit today. it doesn't look good. I believe the system has performed outside the backtested boundaries and he should take it offline. hope he bounces back.
I think his risk management does not conform to his testing.

I wish he would talk. His trade size is killing him. I think he has said to himself at this point that he will either recover back to new highs or lose it all and risk be damned. The leverage at this point is dangerous and not that of a professional trader. It takes time to trade out of a draw down and you cannot rush it by increasing your risk and hoping for a winning streak.
  • #590
  • May 21, 2013 2:02pm May 21, 2013 2:02pm
Quoting Seneca pilot
{quote} I think his risk management does not conform to his testing. I wish he would talk. His trade size is killing him. I think he has said to himself at this point that he will either recover back to new highs or lose it all and risk be damned. The leverage at this point is dangerous and not that of a professional trader. It takes time to trade out of a draw down and you cannot rush it by increasing your risk and hoping for a winning streak.
Learning the art of Drawdown Recovery in trading, is as important as water is to a human being.
It is an art due to the intense emotions involved, and constantly feeling as if you are trading on a "shoestring" during the DD period/recovery process.

I too wish TPO would discuss his theology behind the current trades in relation to his testing.
See our myfbook results. Our username = MPC
  • #591
  • May 21, 2013 2:02pm May 21, 2013 2:02pm
Quoting Seneca pilot
{quote} I think his risk management does not conform to his testing. I wish he would talk. His trade size is killing him. I think he has said to himself at this point that he will either recover back to new highs or lose it all and risk be damned. The leverage at this point is dangerous and not that of a professional trader. It takes time to trade out of a draw down and you cannot rush it by increasing your risk and hoping for a winning streak.
yep....Marty Schwartz in pit bull stated that when a losing streak hits get smaller.while this is not mathematically correct,your pre-occupation should be to build self confidence by positive reinforcement. if the streak still continues take a break and come back again trading smaller. rinse and repeat until you get your mojo back.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #592
  • May 21, 2013 2:04pm May 21, 2013 2:04pm
Quoting pemully
{quote} yep....Marty Schwartz in pit bull stated that when a losing streak hits get smaller.while this is not mathematically correct,your pre-occupation should be to build self confidence by positive reinforcement. if the streak still continues take a break and come back again trading smaller. rinse and repeat until you get your mojo back.
I have not read that book yet, although I am a huge fan of Marty Schwartz in his Market Wizards' interview.
Thank you pemully for giving me the idea for my next read
See our myfbook results. Our username = MPC
  • #593
  • Edited May 22, 2013 5:01am May 21, 2013 4:18pm | Edited May 22, 2013 5:01am
King William III of England in the late 17th century called upon all Englishmen to ‘fight and die in the last ditch’ to defend England. The drastic increase in lot sizes traded on those two days (in fact since April 25th) was his last ditch attempt to break new equity highs for this year. Not just the increased trade size but total volume on each day. No point for him to say anything more until he recovered all the losses thus far.

You're looking at 75 to 121 standard lots total at those two arrows, averaging 5.3 standard lots per trade.
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His family members invested quite a sum with him, so we should let him work it out quietly.
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No longer trading forex. Looking for full time job.
  • #594
  • May 22, 2013 5:11pm May 22, 2013 5:11pm
Well at least we know TPO is still alive, seeing the trades placed on his account.
Unless he is on a beach somewhere sipping mojitos while an EA trades for him?
See our myfbook results. Our username = MPC
  • #595
  • May 22, 2013 11:53pm May 22, 2013 11:53pm
Quoting mpc
Well at least we know TPO is still alive, seeing the trades placed on his account.Unless he is on a beach somewhere sipping mojitos while an EA trades for him?
Yes, He's alive but he needs to take out emotions from his trading IF he wants to maintain this business. And this is very hard to do when your in DD and high heat of losing hard earned money. I suggest him to take a break for at least one week. Maybe go to a beach and have some fun and clear his mind totally. Than come back and make a PLAN on SLOWLY getting out of this DD.

I hope the best for him.
Manage probability while following the TREND.
  • #596
  • May 24, 2013 4:11am May 24, 2013 4:11am

Drawdowns are part of trading, there is no trader who doesn't experience a DD in their trading career. The key to being a successful trader is coming up with a trading plan that enables you to withstand these periods of large losses. DD period is what separates real professional traders from overnight success traders... Some traders see DD periods as a bad thing, but I have a different opinion, I think they are good because the ykeep you on your toes...and thus you make sure that your risk management and MM is water tight. They keep you in check so that you don't get arrogant thinking that the market is a walk in the park. They challenge you and you can notice your weakness...which you don't usually notice when you are having a winning streak.

With back tested results, DD looks easy to deal with when looking at the equity curves, but in reality they are very difficult to manage psychologically. Most unsuccessful traders tend to double up on their size when they are in a DD period....but professional traders usually reduce their size until they get out of the DD period. The only time I increase my trading size is when my account is growing...not when I am in a DD.

A DD is not easy especially for inexperienced traders...you start to doubt your trading abilities...you start to change a few things on your trading strategy. And usually you are scared to take the next trade fearing to lose again...but remember trades are independent, so when you know that you have an edge, there is no fear in taking the 10th trade after 9 losing trades...and maybe that trade is the one to cover for most of your losses and get you out of trouble.

Just keep doing what you did to get to equity highs, if you have a solid trading plan, just keep following that until you get out of the DD. It's a tough psychological journey that can only be survived if you have a solid trading plan.

  • #597
  • May 29, 2013 12:00pm May 29, 2013 12:00pm
TPO?

http://www.myfxbook.com/members/TPOT...urnalfx/527801
See our myfbook results. Our username = MPC
  • #598
  • May 30, 2013 12:22am May 30, 2013 12:22am
Quoting mpc
TPO? http://www.myfxbook.com/members/TPOT...urnalfx/527801
still feeding off this thread as no one bothers to post on the 15 threads you spam on here.you have no shame
student
  • #599
  • Edited 12:58am May 30, 2013 12:26am | Edited 12:58am
Quoting garrye
{quote}still feeding off this thread as no one bothers to post on the 15 threads you spam on here.you have no shame
It shows his true character, seeing that TPOTrader is down and feeling lousy, he did that intentionally to hurt TPOTrader. Let the fools who subscribe to his scam see his real person. Nasty little noballs faggot that wanted to take revenge on TPOTrader.
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Quoting TPOTrader
{quote} here you are trying to defend the legitimacy of your service on my thread. Why don't you grow some balls and unban these people from your thread and let them have the discussion there? Of course you wouldn't do that, cause a scammer has something to hide and can't bear the criticisms. It's pretty pathetic. Forget about the competition.. Your service is shot dead already..RIP mpc
He did that to another forum and got the moderator angry with his multiple threads and multiple fake usernames to promote himself. Donna is aware of his silly cartoon antics here and 15 threads spamming.
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Quoting TPOTrader
{quote} actually i find it amusing..i'll keep him around as a pet....
TPOTrader is too nice to keep this parasite around ..... now he is taking revenge on old wounds and biting TPOTrader when he is down and needed the peace.
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No longer trading forex. Looking for full time job.
  • #600
  • May 30, 2013 12:29am May 30, 2013 12:29am
yes agree mm,no one ever posts on his threads so nobody falls for his crap
student
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