How long was your longest Losing streak? | Page 2 | Forex Factory

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How long was your longest Losing streak?

  • #21
  • Nov 1, 2013 7:54am Nov 1, 2013 7:54am
Quoting TranceTrader
{quote} This is because you are yet to discover why, and you will as your progress on your journey. Be sceptical but never dismissive.
I'll take the advice
So sorry for always replying late! But I got 2 Jobs!!
  • #22
  • Nov 1, 2013 1:16pm Nov 1, 2013 1:16pm
About three months and a lot of trades in the blue. As for the three months, that's how long it took to wipe out my first account as a newbie.
  • #23
  • Nov 1, 2013 4:24pm Nov 1, 2013 4:24pm

don't keep track of trades like that, but as you mentioned, I gave it a thought … 5 days in a row in April 2012 ...

... after that realized it doesn't make sense for me because I manage exposure / position …

but that's me
  • #24
  • Nov 1, 2013 4:38pm Nov 1, 2013 4:38pm
Quoting Gumrai
{quote} Why do casinos routinely ban Gamblers that they suspect of being adept at card counting?
Once you have an edge it's no longer gambling. Slots, roulette, those are genuine gambling games for the customer.

Quoting TranceTrader
{quote} You're wrong on two fronts here. 1) not all casino games have a house edge if played correctly. 2) (and the main point). not all gambling takes place in a casino. There is no difference, it's a misconception predicated on ignorant public perception. You are in the business of RISK my friend, anyone who uses risk whether it's a new business owner, horse racing speculator or trader in the pits, is a gambler making decisions based calculated risk trying to anticipate future reward.
1) By corollary, you say the house is either losing money or going break-even for a game they host. Really? Any game actually played against the house is going to have an edge in favor of the house. Games like poker where you play other customers are a little different, but slots and roulette as posted above don't fall under this. You can certainly create an edge for yourself in poker as long as you overcome the rake.

2) I think it's a little humorous that you lump entrepreneurs in the same camp as those who throw craps or buy the lotto daily in hopes of getting rich instantly. One is pure luck and the other is a (hopefully) calculated risk based on research. Nobody with a brain is going to build a new Subway franchise in an area where there is no demand for such an establishment, because they've done the research and are making a reasonably educated decision. By your definition of risk, you can throw everything into the gambling camp. Going to college to get a better job? Gambling, because there's a risk you might not get a job, no matter how remote. Getting married? Gambling - even if she's a super faithful woman in dating, she could cheat on you! Clearly these are absurd examples but I hope you see the difference.
  • #25
  • Nov 2, 2013 5:33am Nov 2, 2013 5:33am
I've had 7 consecutive losers in a row before. I thought this was terrible but I think that a lot of people can have a string of bad results. Things have been getting better recently so hopefully it was a blip. The markets have been very odd recently as well so I expect a lot of people are losing money
  • #26
  • Nov 4, 2013 1:42am Nov 4, 2013 1:42am
6 losses in a row.......lucky enough they were really small relative to the account size
  • #27
  • Nov 4, 2013 5:00am Nov 4, 2013 5:00am
Quoting Danny Maina
6 losses in a row.......lucky enough they were really small relative to the account size

05 Losses here. Not so small but I have blew my $200 account.
  • #28
  • Nov 4, 2013 5:37am Nov 4, 2013 5:37am
Quoting Parox
{quote} 05 Losses here. Not so small but I have blew my $200 account.

pfffff....... I would probably blow a $200 in a day.......
  • #29
  • Nov 4, 2013 6:27am Nov 4, 2013 6:27am
A few years ago I funded a small acct..

1:1 RR 16 losers on the trot (zero'd the acct)

obviously I took heart from this as all I needed to do to get a good edge was reverse my entries!!!

Refunded the acct again (small)

15 losers and 2 winners... (busted the acct again)

I laughed for quite sometime after that :-)
  • #30
  • Nov 4, 2013 7:55am Nov 4, 2013 7:55am
9 months. Trading OPM.
  • #31
  • Nov 4, 2013 7:59am Nov 4, 2013 7:59am
I think a more appropriate question to ask is what everybody's maximum drawdown ever was. A higher loss in a short period of time stings harder than a drawn out loss over a longer period.
  • #32
  • Nov 4, 2013 8:33am Nov 4, 2013 8:33am
Why are you all talking about losing streaks? Is this an ugly face contest or something?
I suggest that you take the energy you're using to post this negative stuff and use it for something more positive... such as improving your strategy to minimize drawdowns
Just trying to be helpful.
Those who say it cannot be done should not interrupt those who are doing it
  • #33
  • Nov 4, 2013 8:36am Nov 4, 2013 8:36am
Quoting Gumrai
About 3 or 4 years ago, I had a winning streak of 15 trades one month. The next month, I had a losing streak of 13. Almost seemed like the market was taking revenge for the great previous month. Those were all R:R 1:1 and either hit TP or SL, no interference.
And did you ever figure out what you were doing wrong in the 2nd month?
Perhaps market characteristics changed (as they often do) and you didn't change your risk management or entry/exit strategy to compensate.
... or perhaps you strategy wasn't really properly back tested and needs a few tweaks. The answer to that question would be more helpful to you... and perhaps others also.

P.S. I have always believed (and still do) that an RR less than 1.5:1 is a gamble. The premise here is that statistically, your win/loss ratio is 1:1 and therefore your edge will be with a risk/reward of 1.5:1 or greater.
Those who say it cannot be done should not interrupt those who are doing it
  • #34
  • Nov 4, 2013 9:28am Nov 4, 2013 9:28am
My longest losing streak was 14 trades in a row. It was very sad.
  • #35
  • Nov 4, 2013 10:08am Nov 4, 2013 10:08am
Quoting ForexCopier
My longest losing streak was 14 trades in a row. It was very sad.
That's a given..any loss streak is a downer..but on the flip side, analyzing the loss can give you an idea on what you were doing wrong..
  • #36
  • Nov 4, 2013 10:44am Nov 4, 2013 10:44am
Quoting Forexnuts
{quote} That's a given..any loss streak is a downer..but on the flip side, analyzing the loss can give you an idea on what you were doing wrong..
Those who say it cannot be done should not interrupt those who are doing it
  • #37
  • Nov 4, 2013 11:59am Nov 4, 2013 11:59am
Quoting Forexnuts
{quote} That's a given..any loss streak is a downer..but on the flip side, analyzing the loss can give you an idea on what you were doing wrong..
Most of the time when I have a loss it is my fault - which goes to show the market is not totally random.
  • #38
  • Nov 4, 2013 12:03pm Nov 4, 2013 12:03pm
Quoting Muhammad Ezz
Wanna hear from someone who been trading ( not gambling ) for years about this. Thx in advance Smile
Read these posts:
http://www.forexfactory.com/showthre...51#post4276951
http://www.forexfactory.com/showthre...04#post1454704
Both flotsom and TheRealThing are long time professional traders.

However, to be fair, the number of losses you have depends on your strategy, especially your exits. For example, many trend following strategies have a win rate of less than 40%, and are therefore prone to having many losses. But provided that the winning trades are much bigger than the losing trades, they can still deliver overall positive expectancy.

In general then, a tighter SL but a willingness to let profits run leads to a low win rate, but high average RR. Conversely, aiming for smaller RR will increase your win rate. As explained here (point #4):
http://www.forexfactory.com/showthre...77#post1452677

Quoting PipTrapper
Why are you all talking about losing streaks? Is this an ugly face contest or something? I suggest that you take the energy you're using to post this negative stuff and use it for something more positive... such as improving your strategy to minimize drawdowns Wink Just trying to be helpful. Peace
I don't necessarily see it as negative. To survive as a trader, the #1 priority is risk management. Knowing your worst case scenario gives you a better feel as to how much positional risk you can safely take.

Quoting PipTrapper
I have always believed (and still do) that an RR less than 1.5:1 is a gamble. The premise here is that statistically, your win/loss ratio is 1:1 and therefore your edge will be with a risk/reward of 1.5:1 or greater.
My experience is that most profitable traders/systems employ a RR>1. But if you're saying that you can take ANY losing 1:1 system, and make it profitable by simply increasing the RR to 1.5, then I must respectfully disagree. The reason being that, as RR increases, win rate tends to decrease commensurately. If simply having an RR of a certain value (or higher) guaranteed success, then everybody would do exactly that, and be profitable. But obviously forex has a zero sum aspect, and markets could not accommodate such a situation.

Quoting jen101
{quote} Most of the time when I have a loss it is my fault - which goes to show the market is not totally random.
Losses are an inevitable by-product of statistical fluctuation, and hence every trader/method will encounter them. The trader is at fault only when he fails to follow his/her plan, regardless of the outcome (win or loss) of a trade.

It is only the possibility of loss that creates the opportunity for the winners that occur. Without some kind of risk, no return is possible.
  • #39
  • Nov 4, 2013 12:13pm Nov 4, 2013 12:13pm
Quoting hanover
if you're saying that you can take ANY losing 1:1 system, and make it profitable by simply increasing the RR to 1.5, then I must respectfully disagree.
I would disagree also, but I wasn't saying that. What I meant was that a winning system has a 1.5:1 risk/reward ratio if the win rate is 1:1
From that benchmark, you can vary one up and the other down.

True that an RR > 1 is good enough to turn a profit (assuming that 1:1 win rate), but I find that a 1.5 RR system will always have slippage in some form or other so it's good to have that extra margin for error.
Those who say it cannot be done should not interrupt those who are doing it
  • #40
  • Nov 4, 2013 4:19pm Nov 4, 2013 4:19pm
Quoting hanover
{quote} Read these posts: http://www.forexfactory.com/showthre...51#post4276951 http://www.forexfactory.com/showthre...04#post1454704 Both flotsom and TheRealThing are long time professional traders. However, to be fair, the number of losses you have depends on your strategy, especially your exits. For example, many trend following strategies have a win rate of less than 40%, and are therefore prone to having many losses. But provided that the winning trades are much bigger than the losing trades, they...
Thank you Hanover for the very informative post ... I'll for sure check these posts right after finishing my exams ...
And I'll come back with more questions So, be ready .... Thanks again pal
So sorry for always replying late! But I got 2 Jobs!!
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