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Attachments: Geppy vs. GJscalper - a duel to the death!
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Geppy vs. GJscalper - a duel to the death!

Quoting GJscalper
{image} Ok currently GJ is in a scalp buy TP is 149.24 SL is a close at or below 139.731 on 1m --------------------------------------------------- Should sl recommendation fill before price moves up to tp then I ill short GJ for a quick power scalp to 139.49. That will be my last recommendation of the day.
Corection TP must 140.240. Just hit again
If you like my post throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
Quoting Geppy
My favorite part of this thread is by far the peanut gallery.
That's good for you. But one thing, I don't understand yet. How an experienced trader like you done revenge trading all the day? As you are a long term trader - you need to wait for the right setup and right time for entry but it looks like you also traded almost same number of trade like GJscalper (who is a scalper.)
Nobody Knows the Next move!!
Quoting rocket00
{quote} That's good for you. But one thing, I don't understand yet. How an experienced trader like you done revenge trading all the day? As you are a long term trader - you need to wait for the right setup and right time for entry but it looks like you also traded almost same number of trade like GJscalper (who is a scalper.)
Maybe he need "Merlin Touch"
http://www.forexfactory.com/showthread.php?t=405
If you like my post throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
how's everyone playing this pair now?
i like this thread , i really do ...

hope the participants dont get emotionally involved to much ... ie.. sure way to blow up... keep calm and dont go Tilt..

relax , its just a game
Quoting domba
Newbie trader = scalping Pro trader = long term Pro trader = 10% / year profit Newbie trader = 10% / 5 minute profit - or 100% lost
Agree with this. Else it would be possible to go from $100 to millionaire in the space of a few months. I guess it isn't impossible, but at lower timeframes price is generally just less predictable, so your edge is smaller. That's just my opinion though. With GJscalper's method, it might be possible, although I personally did not have much success with it
Better to run, than curse the road
Quoting domba
{quote} Maybe he need "Merlin Touch" http://www.forexfactory.com/showthread.php?t=405
Do you believe in those? I don't. Those strategy published long time ago in this market and now most of the time it received bad feedback. I also believe in right setup.
Nobody Knows the Next move!!
Quoting domba
Newbie trader = scalping Pro trader = long term Pro trader = 10% / year profit Newbie trader = 10% / 5 minute profit - or 100% lost
Not completely true... there is noob scalping and experienced trader scalping..... noobs tend to scalp for a few pips with no stop loss, which is why they manage to blow their account up.
A lion doesn't concern itself with the opinion of sheep.
Quoting rocket00
{quote} Do you believe in those? I don't. Those strategy published long time ago in this market and now most of the time it received bad feedback. I also believe in right setup.
I don't know because i blow my account several time. With my perspective holygrail is:
1. Good system with less drawdown
2. Bad system with constant lossing trade - you can trade opposite

In this forum i think you can't get No.1, but bunch of No.2.
If you like my post throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
  • Post #370
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  • Edited 11:52am Jul 18, 2016 11:34am | Edited 11:52am
Quoting martin-trade
{quote} Not completely true... there is noob scalping and experienced trader scalping..... noobs tend to scalp for a few pips with no stop loss, which is why they manage to blow their account up.
You mean Pro Scalper or Pro Trader?
If you like my post throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
Quoting domba
{quote} You mean Pro Scalp or Pro Trade?
Both equally good names for some dodgy trading software aimed at noobs....
A lion doesn't concern itself with the opinion of sheep.
I sense a lot of hostility among all participants...
Attached Image
Quoting GJscalper
{quote} Yeah it is going to happen! It as actually begun. I will be funding the account right before London open, and I am fine with Master Geppy having the head start!
Oh, and what rules did you 2 agreed on? Trade till someone is in margin call or there is a time limit?
this is by far the best thread right now
Attached Image
Quoting domba
{quote} I don't know because i blow my account several time. With my perspective holygrail is: 1. Good system with less drawdown 2. Bad system with constant lossing trade - you can trade opposite In this forum i think you can't get No.1, but bunch of No.2.
Nice system no. 2 Now I need to find an bad strategy which can generate constant lose
Nobody Knows the Next move!!
Quoting GJscalper
11% profit so far, with less than 1% drawdown. I think I should stop here and let Geppy catch up! What do you think? Oh and for those of you who just started trading yesterday, Money managment is the key to this all. If a person opens a PAMM for 500usd and an investor deposits 20k... Should the master account earn 5% than the 20k will grow 5% as well! Don't let these "gurus" tell you that "The larger the account, you will trade it differently!" As if that is the case, then you aren't sticking to the same money managment, because everyone and...

GJscalper, nice trades. I agree with you that money management is important regardless of account size, $5,000 or $500. But I do want to point out sometimes account sizes do matter even when risking the same %. But this problem only applies to ECN brokers which have a minimum trade lot requirement: 0.01 lot. The below example shows how that requirement affects risk management of a smaller account.

Say you have a $5,000 account and a $500 account.
Define the risk to be 1% of the equity for 100 pips.

For the $5,000 account, that means each pip worth 50/100= $0.5, so you need a 0.05 lot size trade.
For the $500 account, that means each pip worth 5/100= $0.05, so you need a 0.005 lot size trade which is not possible with an ECN broker and less than the minimum lot size 0.01 lot on MT4.

To satisfy the minimum lot,
The $500 account needs to risk at least 2% of the equity for 100 pips or 1% of the equity for 50 pips.

Just for comparison,
A $250 account needs to risk at least 4% of the equity for 100 pips or 1% of the equity for 25 pips.
A $100 account needs to risk at least 10% of the equity for 100 pips or 1% of the equity for 10 pips.

So in reality, you have to be more aggressive with a smaller account because it doesn't allow you to risk a little percentage wise for a big pip target.

However, note that if your broker is a market-maker which allows customized lot sizes like OANDA, the above limitation won't matter.
Quoting Magic7
{quote} GJscalper, nice trades. I agree with you that money management is important regardless of account size, $5,000 or $500. But I do want to point out sometimes account sizes do matter even when risking the same %. But this problem only applies to ECN brokers which have a minimum trade lot requirement: 0.01 lot. The below example shows how that requirement affects risk management of a smaller account. Say you have a $5,000 account and a $500 account. Define the risk to be 1% of the equity for 100 pips. For the $5,000 account, that means each...
That is why its imperative someone has a broker that will allow them to trade that small so everything can be kept in proportion with the bigger account. In a standard account 1 lot = $10 but in a mini account 1 lot = $1 so a 5 cent per pip trade would be 0.05 lot size and in a micro account 1 lot = $0.10 so the 5 cent trade would be 0.5 lots. Many many brokers offer mini and micro accounts as well as the standard account.
Success means going from failure to failure without loss of enthusiasm
Quoting Magic7
{quote} GJscalper, nice trades. I agree with you that money management is important regardless of account size, $5,000 or $500. But I do want to point out sometimes account sizes do matter even when risking the same %. But this problem only applies to ECN brokers which have a minimum trade lot requirement: 0.01 lot. The below example shows how that requirement affects risk management of a smaller account. Say you have a $5,000 account and a $500 account. Define the risk to be 1% of the equity for 100 pips. For the $5,000 account, that means each...
Calculation is not correct. He had 20 pips stop loss.
Quoting Magic7
{quote} GJscalper, nice trades. I agree with you that money management is important regardless of account size, $5,000 or $500. But I do want to point out sometimes account sizes do matter even when risking the same %. But this problem only applies to ECN brokers which have a minimum trade lot requirement: 0.01 lot. The below example shows how that requirement affects risk management of a smaller account. Say you have a $5,000 account and a $500 account. Define the risk to be 1% of the equity for 100 pips. For the $5,000 account, that means each...
Gotta agree with Magic and remind all of the psychology involved as well. Trading with $50 or trading with $5000 IS different. Why? Fear, greed, hesitancy, potential for greater loss, human factors, etc. affect everyone no matter who you are. Someone trading with $50 is way more likely to take risks because the draw down to blow out is negligible. Anyone who went through the learning curve of trading went through days of uncertainty, second guessing oneself, moving one's stop loss, and doubt to name but a few.

Unless you are a robot devoid of emotion, it takes steely reserve and practice to trust your system and produce consistent results OVER TIME. And if you are like many of us, you blew out a few accounts along the way to learning that valuable lesson. Stated simply, a $50 account does not have the inherent "risk" of the possibility of a large loss that a $5000 account has. Therefore, it is not an apples to oranges comparison. There is absolutely no way to have an equitable comparison without ALL THINGS BEING EQUAL. All other arguments are merely moot.
This is a great exercise but it's a shame all parties couldn't agree on precise and exact terms in all areas for a true lithmus test.
Quoting Captvrod
{quote} Gotta agree with Magic and remind all of the psychology involved as well. Trading with $50 or trading with $5000 IS different. Why? Fear, greed, hesitancy, potential for greater loss, human factors, etc. affect everyone no matter who you are. Someone trading with $50 is way more likely to take risks because the draw down to blow out is negligible. Anyone who went through the learning curve of trading went through days of uncertainty, second guessing oneself, moving one's stop loss, and doubt to name but a few. Unless you are a robot devoid...
It matters what that $50 means to you. To some people $50 is what they earn on a weekly basis and to others its the price of a meal out. If someone takes $50 and it is all they have in the world to trade and they want to grow that account the fear of losing even $1 is as high to them as losing $1,000 to another person. So no competition can be equal unless they come from equal backgrounds and funds.
Success means going from failure to failure without loss of enthusiasm
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