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1 year profitable trading goal

  • #1,061
  • Sep 14, 2016 6:26pm Sep 14, 2016 6:26pm
Quoting pursuit_21
this may be a 'little' pre-mature, but ...does anyone have plans for when/if they 'win' this year?
Keep compounding on your winnings
  • #1,062
  • Sep 14, 2016 6:32pm Sep 14, 2016 6:32pm
Quoting Passerby
Take a look at AudNzd, i saw long entry which would work around 1.02680. Long target open up to 1.0627, nice rr there with stop just below recent low. Take note that my tf a bit longer than most.
Looks bearish on this pair, the market have been in a healthy down trend and we have a resistance level at 1.0320.. Probably going to look for short near the 1.0320 resistance level..
  • #1,063
  • Sep 14, 2016 7:17pm Sep 14, 2016 7:17pm
Today choopy or market going know where to me, so no trading today
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  • #1,064
  • Edited 6:39am Sep 15, 2016 2:22am | Edited 6:39am
Quoting domba
Today choopy or market going know where to me, so no trading today
Yea, thats true too in Major Pairs. After LO Can't scalp either like this. Ended today with still -50%. We will see after NY or after the bigs news. Better play safe after consecutive small loss.

Edit:
-See what The Markets have done today?! All US number in flop! But the prices keep pushing stronger in all Major Pairs. Crazy Sentiment!!!
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #1,065
  • Sep 15, 2016 8:29am Sep 15, 2016 8:29am
Quoting Passerby
Take a look at AudNzd, i saw long entry which would work around 1.02680. Long target open up to 1.0627, nice rr there with stop just below recent low. Take note that my tf a bit longer than most.
yea, I'm hoping for a bullish weekly close tomorrow. If so, I think at least 1.04-1.05ish target. I like your 1.06 better, if it can get there
  • #1,066
  • Sep 15, 2016 10:00am Sep 15, 2016 10:00am
Quoting domba
{quote} Yeah if i trade with real acc, i prefer max leverage is 1:100. I use 1:1000 for learning my MM and developing my system, so far so good with 1:1000 leverage.
If you enter a trade using the max 1:1000 leverage, you will blow your account if price moves 10 pips against you. Even if you only use a few pips SL, it doesn't give room for any losses before bye, bye account...

Edit: not to mention, you'll be margin called, and blown out of the trade if price even moves a few pips against you since typically you need at least 40% of your margin. If you enter max 100% margin, you only have 60% cushion before broker closes your trade...
  • #1,067
  • Sep 15, 2016 10:04am Sep 15, 2016 10:04am
Quoting benaiah
{quote} If you enter a trade using the max 1:1000 leverage, you will blow your account if price moves 10 pips against you. Even if you only use a few pips SL, it doesn't give room for any losses before bye, bye account... Edit: not to mention, you'll be margin called, and blown out of the trade if price even moves a few pips against you since typically you need at least 40% of your margin. If you enter max 100% margin, you only have 60% cushion before broker closes your trade...
This is NP for him, because his account is SL. He is aware of the risk and have unconventional money management. This is ok, because we are all different. I use similar aproach myself, never fully load the account.
PVSRA
  • #1,068
  • Sep 15, 2016 10:05am Sep 15, 2016 10:05am
Quoting Fisher755
{quote} This is NP for him, because his account is SL. He is aware of the risk and have unconventional money management. This is ok, because we are all different. I use similar aproach myself, never fully load the account.
My comment was not to say whether it is okay or not.
  • #1,069
  • Sep 15, 2016 10:09am Sep 15, 2016 10:09am
Quoting benaiah
{quote} My comment was not to say whether it is okay or not.
I know, but I was thinking you did not deep into his style to be aware he could anytime deposit 50X more... so risk management is for sure different than with fully loaded account. No sense in mentioning it is dangerous, because imo he is doing this on purpose..
PVSRA
  • #1,070
  • Sep 15, 2016 10:12am Sep 15, 2016 10:12am
Quoting Fisher755
{quote} I know, but I was thinking you did not deep into his style to be aware he could anytime deposit 50X more... so risk management is for sure different than with fully loaded account. No sense in mentioning it is dangerous, because imo he is doing this on purpose..
Okay, then. So the context of the conversation was what leverage we are using. If you never load your account, and just use the balance as the SL, or always just use max leverage, why even post about this? Who knows what risk parameters you are using? It benefits no one to just say, "I use max 1:1000 leverage and it works for me".

This makes no sense, since you are really not using max leverage if you don't fully load your account. No one knows what risk parameters you are using.
  • #1,071
  • Sep 15, 2016 10:17am Sep 15, 2016 10:17am
Quoting benaiah
{quote} Okay, then. So the context of the conversation was what leverage we are using. If you never load your account, and just use the balance as the SL, or always just use max leverage, why even post about this? Who knows what risk parameters you are using? It benefits no one to just say, "I use max 1:1000 leverage and it works for me". This makes no sense, since you are really not using max leverage if you don't fully load your account. No one knows what risk parameters you are using.
To this I totally agree. Domba could explain his MM a bit more detailed so that readers and especially newbies could understand.
PVSRA
  • #1,072
  • Edited 10:47am Sep 15, 2016 10:22am | Edited 10:47am
Quoting Fisher755
{quote} To this I totally agree. Domba could explain his MM a bit more detailed so that readers and especially newbies could understand.
Okay. The thing is too... I also totally disagree with this way of trading, and think it is a very bad idea. I have also traded this way. After a few blown accounts, it just fosters a gambling mentality. Since it is easy to say to yourself, I don't care how many accounts I blow, I'll just add more money.

There are no professional traders who will endorse this way of trading.

The purpose of this thread is to try and reach 1 year profitability as the first step. I don't think most of us want to blow several accounts on our way to that goal, lol.

Long term profitability will not be attained by risking your whole account every trade you take. I don't think this type of strategy is worth discussing here.
  • #1,073
  • Sep 15, 2016 10:26am Sep 15, 2016 10:26am
Quoting benaiah
{quote} Okay. The thing is too... I also totally disagree with this way of trading, and think it is a very bad idea. I have also traded this way. After a few blown accounts, it just fosters a gambling mentality. Since it is easy to say to yourself, I don't care how many accounts I blow, I'll just add more money. There are no professional trades who will endorse this way of trading. The purpose of this thread is to try and reach 1 year profitability as the first step. I don't think most of us want to blow several accounts on our way to that goal,...
This is the matter of discussion, but I understand what you mean and I am fine with it. It is your thread.
PVSRA
  • #1,074
  • Edited 11:13am Sep 15, 2016 10:53am | Edited 11:13am
Quoting benaiah
{quote} If you enter a trade using the max 1:1000 leverage, you will blow your account if price moves 10 pips against you. Even if you only use a few pips SL, it doesn't give room for any losses before bye, bye account... Edit: not to mention, you'll be margin called, and blown out of the trade if price even moves a few pips against you since typically you need at least 40% of your margin. If you enter max 100% margin, you only have 60% cushion before broker closes your trade...
This is sample my MM strategy :

Starting balance $1 use 1:1000 leverage after reach $100 i reduce leverage to 1:500, or split to 3 other broker with 1:1000 leverage
Starting balance $100 use 1:500 leverage after reach $1000 i reduce leverage to 1:100, or split to 3 other broker with 1:500 leverage
Starting balance $1000 use 1:100 leverage after reach $10000 i reduce leverage to 1:50, or split to 3 other broker with 1:50 leverage

Open 1 trade only until reach the target and use max leverage . Seems to logical?

Oh yeah...about SL. I divide all my balance with 10 -15 (in major pair) if i use 1:1000 leverage. My R:R vary between 1:5 to 1:50 depending market offer me. And yes this kind strategy not fit for everyone especially for new trader except me (i'm new trader here)
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  • #1,075
  • Sep 15, 2016 11:12am Sep 15, 2016 11:12am
Quoting domba
{quote} This is sample my MM strategy : Starting balance $1 use 1:1000 leverage after reach $100 i reduce leverage to 1:500, or split to 3 other broker with 1:1000 leverage Starting balance $100 use 1:500 leverage after reach $1000 i reduce leverage to 1:100, or split to 3 other broker with 1:500 leverage Starting balance $1000 use 1:100 leverage after reach $10000 i reduce leverage to 1:50, or split to 3 other broker with 1:50 leverage Open 1 trade only until reach the target and use max leverage . Seems to logical? Oh yeah...about SL. I divide...
Very interesting, i might try sometime
  • #1,076
  • Sep 15, 2016 11:13am Sep 15, 2016 11:13am
Quoting Mr.Dan
{quote} Very interesting, i might try sometime
  • #1,077
  • Sep 15, 2016 11:16am Sep 15, 2016 11:16am
Quoting domba
{quote} This is sample my MM strategy : Starting balance $1 use 1:1000 leverage after reach $100 i reduce leverage to 1:500, or split to 3 other broker with 1:1000 leverage Starting balance $100 use 1:500 leverage after reach $1000 i reduce leverage to 1:100, or split to 3 other broker with 1:500 leverage Starting balance $1000 use 1:100 leverage after reach $10000 i reduce leverage to 1:50, or split to 3 other broker with 1:50 leverage Open 1 trade only until reach the target and use max leverage . Seems to logical? Oh yeah...about SL. I divide...
Your choice to trade how you want to. You could pull off a nice trade here and there, after which decrease leverage and be okay.

However, over-leveraging is very much like gambling. How many people win the lottery? Most people lose...
  • #1,078
  • Edited 12:30pm Sep 15, 2016 11:20am | Edited 12:30pm
Quoting benaiah
{quote} Your choice to trade how you want to. You could pull off a nice trade here and there, after which decrease leverage and be okay. However, over-leveraging is very much like gambling. How many people win the lottery? Most people lose...
That's why i start with tiny capital. This purpose is for learn my mental and psychology in trading not for gambling.

And this exactly what i'm talking about :

http://www.forexfactory.com/showthre...92#post9141992
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  • #1,079
  • Sep 15, 2016 2:58pm Sep 15, 2016 2:58pm
Quoting domba
{quote} That's why i start with tiny capital. This purpose is for learn my mental and psychology in trading not for gambling. And this exactly what i'm talking about : http://www.forexfactory.com/showthre...92#post9141992
If you don't treat the small account the same way as you treat the big account, you aren't really preparing yourself to trade long term.

Being able to make money on the small account doesn't mean anything, unless you can do it over an extended period of time, and be consistently profitable, and over leveraging does not improve your chances.
  • #1,080
  • Edited 4:04pm Sep 15, 2016 3:17pm | Edited 4:04pm
Quoting domba
{quote} That's why i start with tiny capital. This purpose is for learn my mental and psychology in trading not for gambling. And this exactly what i'm talking about : http://www.forexfactory.com/showthre...92#post9141992
I agree with Benaiah.

In the fact of reality, nothing like that without some aspect of gambling. Trading is a gambling at some point. I have friend that had pushed the leverage with good capital to get quick profit in the short time, one time he was succeed and gain over $20,000 in a day, after a week, disaster came with SNB playing with the CHF floor and lost everything.

There is no big big profit without big big capital. With a big capital we try to get a safest profit like a blue chips stock of the insurance investation that yield only 2% per year. Palm oil company invest millions dollars (capital) just to get only 10 to 20 % return a year.

Thats we called all the other thing as experiment. I got My experiment gambling and soon lost 50% of this account. Owh yeah.

And that in that thread above, off course bagexpert in gambling mode. Surely. If Win, You are rich in one night. If Lost, then a new deposit would come.

And I have said many many times, Psychology is not the real science. Psychiatry is the real science. Psychology is only offer u an alternative solutions of theory, and sometimes works.
fooled by randomness in art
Meditation All Time Return: 8.9%
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