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  • #41
  • Nov 20, 2014 1:06pm Nov 20, 2014 1:06pm
Quoting fezmar
Where does that put me in terms of the classic win rate? Under 7%. Perhaps you should take a moment to really appreciate what I just laid down. I have compounded my account to 6 digits with a 7 percent win rate.
I LOVE IT. II've lost count of the PMs I've had with suggestinos as to how I can increase my win rate from 9-10% - people really struggle when I gently say 'Thanks, but no thanks'
  • #42
  • Nov 20, 2014 1:18pm Nov 20, 2014 1:18pm
Quoting hollowhead
{quote} I LOVE IT. II've lost count of the PMs I've had with suggestinos as to how I can increase my win rate from 9-10% - people really struggle when I gently say 'Thanks, but no thanks'
Precisely. People place too much importance on entries. Naturally you need to have a decent and I really stress the word 'decent' and not 'great' or even 'good' method of entering the markets. I will go over some various ways of doing this later on, for now let us give the other traders a chance to digest the information about this type of trading.

Looking at your explorer I must say, It reminds me of the good days when I was hammering this method to the maximum capability. I do not know whether the results are from a live account or not, but believe me when I say you have an incredible talent for this style of trading, and if you manage to keep up these results you will be able to be where I am in but a mere amount of time, of course assuming your balance doesn't already read more than mine, which it very well may. A fantastic example of what I am trying to portray to other traders. If my word wasn't enough, your results are there in plain sight also. Isn't it just refreshing?

Fez
  • #43
  • Nov 20, 2014 1:36pm Nov 20, 2014 1:36pm
Quoting fezmar
{quote} Precisely. People place too much importance on entries. Naturally you need to have a decent and I really stress the word 'decent' and not 'great' or even 'good' method of entering the markets. I will go over some various ways of doing this later on, for now let us give the other traders a chance to digest the information about this type of trading. Looking at your explorer I must say, It reminds me of the good days when I was hammering this method to the maximum capability. I do not know whether the results are from a live account or not,...
That's very kind of you to say (and very encouraging). You really need to see Arifa00000's TE - it's perfect IMHO (http://www.forexfactory.com/arifa00000)
  • #44
  • Nov 20, 2014 1:36pm Nov 20, 2014 1:36pm
Hallo Fez, I like your generous style and am eager to learn as much as possible from your experience. Subscribed, and when the time is right will follow your method using it with my live micro account.
  • #45
  • Nov 20, 2014 1:41pm Nov 20, 2014 1:41pm
Quoting hollowhead
{quote} That's very kind of you to say (and very encouraging). You really need to see Arifa00000's TE - it's perfect IMHO (http://www.forexfactory.com/arifa00000)

Funny I was viewing this right now. Honestly it's beautiful. I humbly take my hat off to the owner of those trades. It's an arduous task but a method with rewards beyond being able to to describe in a post.

Fez
  • #46
  • Nov 20, 2014 2:33pm Nov 20, 2014 2:33pm
I'd argue that such a method is great for new traders because it builds the very important mindset required to trade any method. Successful trading (for retail traders at least), isn't so much about the tools and knowledge, but more about application and probabilities. Trading where the target is the bigger picture of the WHOLE trading plan, rather than the target of the each and every trade, which so often results in frustration.
  • #47
  • Nov 20, 2014 2:54pm Nov 20, 2014 2:54pm
I often had similar methods in my head, but wasn't able so far to put it into practice. So I'm very curious for your next posts, thank you for sharing.
  • #48
  • Nov 20, 2014 3:12pm Nov 20, 2014 3:12pm
Quoting fezmar
{quote} Precisely. People place too much importance on entries. Naturally you need to have a decent and I really stress the word 'decent' and not 'great' or even 'good' method of entering the markets. I will go over some various ways of doing this later on, for now let us give the other traders a chance to digest the information about this type of trading. Looking at your explorer I must say, It reminds me of the good days when I was hammering this method to the maximum capability. I do not know whether the results are from a live account or not,...

Fez, i understand the concept of making money with low win rate and high risk/reward. I have used more like 20% winrate strategies.

I am curious about drawdown duration (http://www.netpicksquantitrader.com/algorithmic_trading/evaulators/maximum-drawdown-duration/) - can you let us know how long was your duration and how did you feel during that time. As you can expect, the lower the winrate, the longer the duration can be.

At typical hedge fund, anything above 6 months start to become too long as investors start to loose patience. I am putting this out here just for information and not saying in your own trading this is a problem.
Think : Trade : Live Life
  • #49
  • Edited 3:33pm Nov 20, 2014 3:33pm | Edited 3:33pm
Quoting stt
{quote} Fez, i understand the concept of making money with low win rate and high risk/reward. I have used more like 20% winrate strategies. I am curious about drawdown duration (http://www.netpicksquantitrader.com/algorithmic_trading/evaulators/maximum-drawdown-duration/) - can you let us know how long was your duration and how did you feel during that time. As you can expect, the lower the winrate, the longer the duration can be. At typical hedge fund, anything above 6 months start to become too long as investors start to loose patience....
Good question.

For me personally, my highest drawdown ever came when I first applied this, as I said earlier. My $3000 account was down to $600, which makes around 80% drawdown. That's a place you never want to be. I was risking 3% per trade, which is a very large amount, more than I should have.

I'm a religious person (Muslim) and so due to the nature of my beliefs I am not really emotionally attached to money. Of course I like it as much as the next guy, but I don't feel a pang of sadness or anger. So while it was hard to see that drawdown, I was never really pulling out my hair or banging my head against a wall. Naturally you don't need to be religious for this to work, but the concept is being detached. Also I'm not for a second stating that kind of drawdown is normal for this. With proper risk and trade management as i'll go into depth soon, I'd say anything up to around 30%.

Since I first hit 6 figures I haven't had more than 20% drawdown, simply due to capital perservation and risking small percentages, whilst still maintaining a remarkable growth rate.

Stay safe,Fez
  • #50
  • Nov 20, 2014 4:09pm Nov 20, 2014 4:09pm
Quoting fezmar
{quote} Good question. For me personally, my highest drawdown ever came when I first applied this, as I said earlier. My $3000 account was down to $600, which makes around 80% drawdown. That's a place you never want to be. I was risking 3% per trade, which is a very large amount, more than I should have. I'm a religious person (Muslim) and so due to the nature of my beliefs I am not really emotionally attached to money. Of course I like it as much as the next guy, but I don't feel a pang of sadness or anger. So while it was hard to see that drawdown,...
Hi Fezmar,
How do you find your entries? I mean whether you use PA, use any indicators or you blindly enter when you see probabilities of a trend start (like some do with Martingle)?
I'm also looking forward for your in depth explanation which is definitely interesting
Yours
Mohammad
  • #51
  • Nov 20, 2014 4:13pm Nov 20, 2014 4:13pm
Quoting Kouroushi
{quote} Hi Fezmar, How do you find your entries? I mean whether you use PA, use any indicators or you blindly enter when you see probabilities of a trend start (like some do with Martingle)? I'm also looking forward for your in depth explanation which is definitely interesting Yours Mohammad
Patience my dear friend. Due to time constraints I can't post a long post more than perhaps once a day at max, so I'm breaking it down. Also I think it will help in the way that this is a rather alien approach to most and so getting it in bitesize pieces rather than a wall of text with opportunities for asking questions will allow them to get a better grip of the nature of the way this works, and I feel it would highlight better the fact that this isn't an entry when this crosses that exit when this turns red type of approach, but rather a methodology; a mindset if you will.

Rest assured we will delve into the nitty gritty sooner rather than later

Fez
  • #52
  • Nov 20, 2014 8:35pm Nov 20, 2014 8:35pm
Quoting fezmar
{quote} ..... My $3000 account was down to $600, which makes around 80% drawdown. That's a place you never want to be. I was risking 3% per trade, which is a very large amount, more than I should have. ....Fez
Hi Fez, a question if i may.
How are you defining risk? a 3% risk on a $3000 account should see a max loss of $90. If you were down to $600 this would seem a much larger risk ~ 80%
Love where this is going BTW
Fred
" check out The Traders Outpost "
  • #53
  • Nov 20, 2014 8:38pm Nov 20, 2014 8:38pm
Quoting RedLineFred
{quote} Hi Fez, a question if i may. How are you defining risk? a 3% risk on a $3000 account should see a max loss of $90. If you were down to $600 this would seem a much larger risk ~ 80% Love where this is going BTW Fred
I think that the $600 he was talking about are the cumulate losses before the winning trade.
MT4/MT5 EAs/Indicators/Alerts coder
  • #54
  • Nov 20, 2014 8:53pm Nov 20, 2014 8:53pm
Quoting FerruFx
{quote} I think that the $600 he was talking about are the cumulate losses before the winning trade.

Haha I thought he had his account balance reach $600 before going back up but your right that doesn't really make that much sense and that would be some major DD to withstand
Life's Good & Why Wouldn't It Be? Im a Pirate After All!
  • #55
  • Nov 20, 2014 8:56pm Nov 20, 2014 8:56pm
Quoting FerruFx
{quote} I think that the $600 he was talking about are the cumulate losses before the winning trade.
Correct my friend. I had lost something like 25 trades. It truly is a test of your mental strength at that point.

Fez
  • #56
  • Nov 20, 2014 10:35pm Nov 20, 2014 10:35pm
Quoting X-Man
{quote} You remind me of a friend. I totally agree. The more you give the more you get thats how it works. Always give charity and if you dont have anything to give then offer a small service and if you have nothing to offer then then least you can do is smile. When we make money in FX then give a part of the winnings for charity.
XMan... were you not referring Arjun here? He reminded me of Arjun... anyway
  • #57
  • Nov 20, 2014 11:09pm Nov 20, 2014 11:09pm
Quoting fezmar
{quote} Patience my dear friend. Due to time constraints I can't post a long post more than perhaps once a day at max, so I'm breaking it down. Also I think it will help in the way that this is a rather alien approach to most and so getting it in bitesize pieces rather than a wall of text with opportunities for asking questions will allow them to get a better grip of the nature of the way this works, and I feel it would highlight better the fact that this isn't an entry when this crosses that exit when this turns red type of approach, but rather...
Thanks Fez, for sharing your knowledge to all of us. We are all ears.. for you. The negative thinkers hasn't started trolling here in the thread.. but rest assured, there are many to come... sooner or later. Please stay on course...! Many will try to offend you... criticize you... try to make you leave the thread and go... but please stay on course...! Thanks a lot for your generous effort to make time to post here.. in your such a busy schedule...!
  • #58
  • Nov 20, 2014 11:21pm Nov 20, 2014 11:21pm
Hi Fez,

The build up is great so far. Almost like a mystery novel that you cannot put down! Can't wait for the next chapter.

subscribed.
Dot
  • #59
  • Nov 20, 2014 11:52pm Nov 20, 2014 11:52pm
Hi Fez ,

Count me in as well .
I have always have had trouble with entries therefore you intrigued me with your tsunami ....
looking forward to hear from you.

cheers
  • #60
  • Nov 21, 2014 12:06am Nov 21, 2014 12:06am
Hey Fez,

Thanks for sharing your experience and method. Looking forward to hearing more.
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