Geppy vs. GJscalper - a duel to the death!

bingo but with a small twiist while the parents make the singles;
they combine to make the zygote:
that later has birth.

This is something interesting different view from "The Wizard" a.k.a Merlin:

No sane professional trader (or experienced amateur) would risk 10% equity per trade!! The generally accepted level of risk is 1 to 2% per entry, and no more than 5% in the market at one time.

The best reference that I have found that discusses a COMPLETE TRADING SYSTEM includes the following major subsystems: what to trade, how much to risk (position sizing), when to buy or sell (signals), stops, and planned exits (I have ignored tactics). The reference for an excellent complete system designed by Richard Dennis, the legendary commodities trader (including foreign exchange), who eventually turned US$400 into US$200 million, and gained additional fame for his Turtle experiment in the 1980’s. You can download his COMPLETE system at www.OriginalTurtles.com. I use the Turtle Trading system for position sizing (including scaling up) and stops. Those were his system's most advanced concepts, both being based on volatility.

I use mathematical indicators for entry and exit (trend and cyclic) that I programmed from concepts I researched on the WWW. I started trading common stocks in 1959 and used technical analysis on an HP-35 calculator in 1978. I have been immersed in researching forex trading since this Jan, 20/7. During that time, I have been doing quite a lot of research regarding the aspect of money management, a.k.a. risk management. It is generally agreed that if your tech. analysis system is at least half-way sensible (via back testing), that your success or utter ruin will be determined by your risk management system and adherence to it.

To recap, trade 1-2% of equity per trade and risk no more than 5% concurrently in the market. (See the Turtle Trading System regarding the relationship between the level of correlation among concurrent trades and position sizing.) In our business, we have witnessed dozens of $10,000 forex accounts that were rendered crippled or destroyed within 2 to 4 weeks when 10% of equity ($1000, full lot) was used per entry. Please note, that a mini account with only $1000 starting equity is just as risky if $100 is bet per trade. So the minimum forex account is more than $5000 if traded with mini lots. [Even $5000 is too small if you have an early run of bad luck.]

Why is 10% too much to risk? If 10% is risked for each trade, you can afford to lose no more then 9 trades because the 10th trade would likely encounter call margin. Anyway, most traders would not keep betting until they lost 90% of their equity. They usually quit after losing 40% to 60%. So, what are the odds of at least 6 losses out of 9 trades? ONLY about 16% or about 1 out of 6! Are you willing to lose 60% of your equity with those odds? Try running a simple BASIC program to simulate 9 trades, each with 50% win/loss probability. Alternatively, try flipping a coin 9 times. If you are not wiped out in 9 tries, keep track of your wins and losses—if you don’t wipe out in 9 trades, the end is nevertheless very near! The odds of 16% is too high to risk my $10,000! [More rigorously, a loss does not necessarily result in full loss of the entry bet, but the general concept still stands, 10% is too much!]

It seems that many participants in the discussion were enamored with the apparent simplicity of the system and the very attractive hoped for result; that was merely the first of the twins of doom--greed and fear.

As you losers bicker and forth about "theories" Geppy and Myself are putting good trades together. Why don't the rest of you do the same or shut the hell up!

Once again, a noob talks about how a 50usd and a 500k usd account is different because of the "risk". Well the reality is if you tell someone how much are you down, or if you tell someone how much you are down you will tell them I am down 50% or 10% on the year and not the dollar amount. The dollar amount means nothing to the person wanting to know how much you have gainned or lost, as if the person decided to follow you, and kept the same money management as you, then the reality is they would be up or down the SAME % as you no matter the amount they started with. Fools are talking about "emotions" and "risk" as if that is factored into a system or money management!

You're one hell of a prat GJ.

grumpy today obviously , amazing how bad results effect people emotionally.

Bad results? I am green trolly troll troll

Are you too? Me not.... because i'am not trade today

Keep going GJscalper!

Equity curve to the MOON ............

Masterrmind...........

Anyone have a clue why my Trade Explorer won't sync? I thought for sure it would have fixed itself by the time I woke up today but nope...

Yeah, I wonder why....

So hard to read potential sarcasm in an online forum. I've posted this before, but I have it loaded on myfxbook: https://www.myfxbook.com/members/gep...llenge/1711280

If you weren't being sarcastic, my bad.

Good morning sweety. Would you consider putting that my fx link in your signature until the issue with TE is resolved? That way the peanut gallery will have one less thing to write in here about because there stupid baseless comments and their ability to skim through certain post is really gettig me heated. On another note it is good to see you getting equity back on GJ.

Good thinkin'.

hmmm, I put it there but it's not showing up. wtf FF?!

Not sure why it isn't syncing. I have a trade explorer set up for a new robot I am testing that is linked to Oanda's FXtrade platform and it seems to be syncing just fine even though it doesn't have any data to pull yet. I can hit the sync button and it works fine.

Make sure you have enabled the permissions for third party access. Maybe that got turned off for some reason.

Thanks Mastermind. I am so happy I got some rest today and was stil able to get a nice order today. I also see you loaded a TE. WELCOME to the Real world of trading because everyone else posting their theories about RISK are nothing more then Demo Queens/King looking to add things to this forum because they lack the ability to load a TE which reveals that they are even trading.

Strange. I definitely have the third-party access setting correct. Trying it again. May try deleting it and reloading it to see if that'll resolve things.

Another issue... can't seem to add myfxbook links to signature.

It's like it's not saving any changes you make. Try putting any comment (no links) in your signature then save it and see if it appears. FF had this issue a while back not sure what they did to resolve it.

Yeah I deleted the link and it works with just text. Even tried a bitly link but it wouldn't take that.

Hi GJscalper, i have a question, why you put custom period on your account with profit of 571%? It is a good stats why you stop trading on that account, usually people will continue to trade on that kind of account.