Hi all, Thanks for stopping by my corner.
- #10
- Edited 3:19am May 9, 2015 1:38am | Edited 3:19am
I have received some private messages asking for hints to help other traders just starting out. Here is something , I would like to share which during my 'lost' years, I conducted my own research and made an excel sheet of random numbers. This is just pure maths , nothing to do with any gambling or any related games.
I have attached an excel screen shot which I post to another forex forum many years ago.
I have used the maths random function in the excel work book. As you can see there are many reds and some reds are all clustered together. (8 losses in a row).
I think the function I used was rand 3 and 2( please google ) , meaning my account would have increase up to 3 per cent per trade and loss up to 2 percent per trade. Over all the simulation was about 10000 trades forgot how many rows did i extrapolated to, but you can see the equity trend line is positive.
Moral of the story : Have an good Risk Reward Ratio and God's mathematics will favor you
I have attached an excel screen shot which I post to another forex forum many years ago.
I have used the maths random function in the excel work book. As you can see there are many reds and some reds are all clustered together. (8 losses in a row).
I think the function I used was rand 3 and 2( please google ) , meaning my account would have increase up to 3 per cent per trade and loss up to 2 percent per trade. Over all the simulation was about 10000 trades forgot how many rows did i extrapolated to, but you can see the equity trend line is positive.
Moral of the story : Have an good Risk Reward Ratio and God's mathematics will favor you
Hi Lim,
I married and had to move but still considering to come back to Singapore in the long run as I believe our medical system is much better (personal bias) and better air, lesser stinking drainages..... some things money just can't buy.
I am a high risker - 10 percent. But if you are just starting out better keep it to 1-2 percent. Mine was slowly build up from 2 then 5 then 10. Have done 20 but that blew up my account many years back - so for my personal system ~ 10 and below is best.
I married and had to move
but still considering to come back to Singapore in the long run as I believe our medical system is much better (personal bias) and better air, lesser stinking drainages..... some things money just can't buy.I am a high risker - 10 percent. But if you are just starting out better keep it to 1-2 percent. Mine was slowly build up from 2 then 5 then 10. Have done 20 but that blew up my account many years back - so for my personal system ~ 10 and below is best.
- #14
- May 9, 2015 3:36am May 9, 2015 3:36am
Congratulations you can make it, I am on verge of making it, only thing I need is to control my greed, I have a perfect trading model and capability, within next 2 months by GOD willing I shall reach my goals and financial freedom.
and its good to know some one else could also make it.
and its good to know some one else could also make it.
its all about the interest rates duh!!!
Hi Lim, I married and had to move
yea there is no place like home..despite its costs singapore has still a pleasant environment
.okay thanks for enlightening me on your risk profile....but with such high risks you must have been super selective on your trades (meaning the best setups a few times each month)?
would also like to find out from you about your risk:reward ratio for your system and your win rate(so i can gauge what its like before i can go full time as well
)Thanks for the tips!
- #16
- May 10, 2015 10:02pm May 10, 2015 10:02pm
{quote} Hi Mark, yea there is no place like home..despite its costs singapore has still a pleasant environment
yes , I try and understand weekly and daily, find a pull back on the 4 hour 1 hour charts. Below that its quite 'noisy' for my current stage of trading.
For RR , my loss is 2 USD , win is 2 - 15 USD. Of cos the main bulk of it will be 2 - 6 USD and the 10 - 15 USD days will be not as often.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Anyway ,
On a side note, I would like to point out that I do seek out other meaningful projects , be it business or church , to fulfill my time in Hong Kong.
When you say full time, I presume that your mind is associating to the positive side of things , as profits tend to infinity , or full timers are better off than part timers.
How about every day dealing with my wins and losses on daily basis , emotional ups and downs is not as positive as people imagine it out to be .
Setups and RR might be the basics but not the whole pictures. Just like Sex , Trading is a mind game too. You master all the positions in karmasutra or forexsutra doesn't give exemplary performance. Other aspects of managing your life and taking the risk mentally , how are you going to grow in this game counts and how you are using this business to make your life more fulfilled or meaningful might be other areas that you would want to consider.
