Good Evening everyone,
After a long hiatus its nice to be back and see some of the old members still around.
I have been toying with the idea of starting another live explorer style thread after the success of my first thread ex-institutional trader and have been thinking how I can improve on that thread.
After spending some time away from the public eye trading private accounts its apparent that there is sadly still an abundant lack of quality traders operating on the public forums willing to practice what they preach so to speak.
In particular the use of the wonderful trade explorer option Forex Factory offer is seriously lacking. Lets be honest in almost any other industry the posting of some audited results would be almost certainly compulsory to offer services.
I can understand why these thread operators thrive here because there is simply a lack of regulation/strict rules requiring them to show any trading history.
From a personal perspective, there are things I did well in my first thread and of course happy to admit things I could have done better. I have taken both the negative and positive feedback and decided to come back and try and help to shake things up a little/improve things here because as far as I can tell its the same old "signal offerings", "subscriptions" and so on with absolutely no trading history to back it up.
Now I do not offer any subscription style services and the like however I do enjoy, as I did last time, building a live account from scratch to hopefully help show people what is possible in this asset class. As before I am going to start a live account from 0% and attempt to build it up with low risk, although much more comprehensively this time around.
Regarding my old site and free newsletters , I did take them offline temporarily to focus on the client base I had built up but will consider sending out my newsletters again much further down the line but want to devote a lot more time building up a significantly larger live trading history.
Here is how I hope to improve on my last thread:
a) I am opening this thread to all commercial members that wish to prove their credentials through either myfxbook or trade explorer. Please send me the link to your myfxbook or similar and I will attach it to this first post.
b) I will keep my personal live trade explorer open for a minimum period of 9-12 months and build it up for a much longer period than the last time I carried out this experiment.
c) I am extremely busy during the week and unlike last time will no longer be available to engage in daily debate but will reserve some time at the weekends to answer questions. I think this will have a positive effect and prevent the thread descending into chaos as it tended to last time.
As ever please before going off on tangents and firing a million questions/criticisms please allow me to build up the live account to approximately 15%+ with about 2 or 3 to 1 risk reward and then I will be happy to open the board to questions about strategy, my plans and so on.
A lot of my approach to trading I have already written about and not much has changed apart from some minor refinements.
Finally, to repeat, I am opening this thread up to all providers of commercial services here to post a new live account and build one up in tandem with me. This is not a competition and I am not trying to catch anyone out. Trading is extremely difficult and takes a lot of hard work and dedication to succeed. I understand that. I am simply trying to help to give the thousands of members that frequent this forum the opportunity to learn from those that genuinely know what they are talking about - unfortunately this is rare in this business. This instead of wasting their time with people who privately quite frankly have no clue. I would be happy to go out on a limb and say that most likely 99.9% of thread starters here do not trade profitably. No reason for any of them to get upset with me over this claim, easy to prove me wrong, in fact I would be very happy to be proved wrong.
The focus as always will be on return over risk as a multiple not on absolute return. Making 50% with 80% drawdown is NOT the same as making 10% with 5% drawdown; I know who I would rather be following. I would suggest anything over 25% drawdown is simply too risky, personally I try to keep below 15% drawdown.
Any questions let me know but if I may suggest allowing me to build up the account over the next 8-12 weeks before anything too heavy, then we can see how the thread evolves and in which direction it goes.
Best,
NV
http://www.myfxbook.com/members/nv_t...trader/1312409
After a long hiatus its nice to be back and see some of the old members still around.
I have been toying with the idea of starting another live explorer style thread after the success of my first thread ex-institutional trader and have been thinking how I can improve on that thread.
After spending some time away from the public eye trading private accounts its apparent that there is sadly still an abundant lack of quality traders operating on the public forums willing to practice what they preach so to speak.
In particular the use of the wonderful trade explorer option Forex Factory offer is seriously lacking. Lets be honest in almost any other industry the posting of some audited results would be almost certainly compulsory to offer services.
I can understand why these thread operators thrive here because there is simply a lack of regulation/strict rules requiring them to show any trading history.
From a personal perspective, there are things I did well in my first thread and of course happy to admit things I could have done better. I have taken both the negative and positive feedback and decided to come back and try and help to shake things up a little/improve things here because as far as I can tell its the same old "signal offerings", "subscriptions" and so on with absolutely no trading history to back it up.
Now I do not offer any subscription style services and the like however I do enjoy, as I did last time, building a live account from scratch to hopefully help show people what is possible in this asset class. As before I am going to start a live account from 0% and attempt to build it up with low risk, although much more comprehensively this time around.
Regarding my old site and free newsletters , I did take them offline temporarily to focus on the client base I had built up but will consider sending out my newsletters again much further down the line but want to devote a lot more time building up a significantly larger live trading history.
Here is how I hope to improve on my last thread:
a) I am opening this thread to all commercial members that wish to prove their credentials through either myfxbook or trade explorer. Please send me the link to your myfxbook or similar and I will attach it to this first post.
b) I will keep my personal live trade explorer open for a minimum period of 9-12 months and build it up for a much longer period than the last time I carried out this experiment.
c) I am extremely busy during the week and unlike last time will no longer be available to engage in daily debate but will reserve some time at the weekends to answer questions. I think this will have a positive effect and prevent the thread descending into chaos as it tended to last time.
As ever please before going off on tangents and firing a million questions/criticisms please allow me to build up the live account to approximately 15%+ with about 2 or 3 to 1 risk reward and then I will be happy to open the board to questions about strategy, my plans and so on.
A lot of my approach to trading I have already written about and not much has changed apart from some minor refinements.
Finally, to repeat, I am opening this thread up to all providers of commercial services here to post a new live account and build one up in tandem with me. This is not a competition and I am not trying to catch anyone out. Trading is extremely difficult and takes a lot of hard work and dedication to succeed. I understand that. I am simply trying to help to give the thousands of members that frequent this forum the opportunity to learn from those that genuinely know what they are talking about - unfortunately this is rare in this business. This instead of wasting their time with people who privately quite frankly have no clue. I would be happy to go out on a limb and say that most likely 99.9% of thread starters here do not trade profitably. No reason for any of them to get upset with me over this claim, easy to prove me wrong, in fact I would be very happy to be proved wrong.
The focus as always will be on return over risk as a multiple not on absolute return. Making 50% with 80% drawdown is NOT the same as making 10% with 5% drawdown; I know who I would rather be following. I would suggest anything over 25% drawdown is simply too risky, personally I try to keep below 15% drawdown.
Any questions let me know but if I may suggest allowing me to build up the account over the next 8-12 weeks before anything too heavy, then we can see how the thread evolves and in which direction it goes.
Best,
NV
http://www.myfxbook.com/members/nv_t...trader/1312409
Will be following