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  • #1,081
  • Sep 15, 2016 5:28pm Sep 15, 2016 5:28pm
Quoting benaiah
{quote} 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.
Yea. I agree. I have said this before, it is not ever the same way thing trade on the big account. In the small account We prepare our self to trade the big account in the same way safest method.

You can make a living over the long period only if you treat all the account the safest way. Small account for training, Big account for profit living (in many years). Off course if profitable.

Edit:
- Attach Pic example profit hedge fund manager in 2011
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  • #1,082
  • Sep 15, 2016 6:19pm Sep 15, 2016 6:19pm
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...

agree with this.


however, i think that every 'trader' gets exactly what they want out of trading -- some of us may think that we want consistent return and compounding increases to our account, but often there is a much deeper driver or 'need' we are trying to satisfy.

some of us want trading to be 'exciting' and we don't like the slow percentage gains, we draw out our dreams on excel charts and we imagine 15% per month for x years and think about all the nice things we could do with that money, or the nice things people will say and think about us.

in 10yrs of trading, i've been through much of these thoughts and feelings, some of them i'm still working through -- but what i have found to help the most with consistent, stable, and compounding returns is to not focus on the money at all...

instead my focus is wanting to sharpen my timing and my read of the market (PA, FA, TA...) from day to day, week to week -- the money will be the side-effect of mastery

15 sep was a good day for me, very edifying -- on the cable forum i posted early in the asian session that my view was sideways chop and plenty of triangle consolidations from 1.3260 - 1.3160. i used the day to consolidate positions and just rest and spend time with my wife -- i didn't bank any increase in account balance, but it was very encouraging for myself to see the market move (timing and price range) in a similar manner as my view ... still plenty to grow from here

best of a trading day to you all...hope we all reach our goals
  • #1,083
  • Sep 15, 2016 6:44pm Sep 15, 2016 6:44pm
Quoting pursuit_21
{quote} agree with this. however, i think that every 'trader' gets exactly what they want out of trading -- some of us may think that we want consistent return and compounding increases to our account, but often there is a much deeper driver or 'need' we are trying to satisfy. some of us want trading to be 'exciting' and we don't like the slow percentage gains, we draw out our dreams on excel charts and we imagine 15% per month for x years and think about all the nice things we could do with that money, or the nice things people will say and think...
Hmm...

well no problem. But we're supposed to be participating in this thread to try and get one year profitable. So, within the context of that, I responded to the comment about maxing out risk, and how that is detrimental to achieving that goal...

Thanks for sharing your experience...
  • #1,084
  • Sep 16, 2016 1:10am Sep 16, 2016 1:10am
Quoting benaiah
{quote} 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.
I have a friend from Indonesia that uses similar MM as Domba. You decide if this is gambling or not. Imo, it is pretty impressive and does not look so risky to me. Depends on perspective, of course..
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  • #1,085
  • Sep 16, 2016 2:59am Sep 16, 2016 2:59am
Although I do not fully agree with treating your small accounts like a big one as there is a lot of difference between the two but the way domba manage his risk might not help a new traders much and it could foster the gambling mentality like benaiah said. You can risk a little more on a small account than those pro traders with big accounts. Just like we start our learning curve from demo to live and to big account then manage small fund then slowly grow into a big one.

There's a lot of new traders dreams or maybe a widespread myth about practicing on demo (or a small live account) and thinking that if they can successfully do it on demo or their tiny live account, they will be able to manage huge funds with no troubles since it's just a few more zero behind and the psychological thingy and every other thing will be the same as it is to trade a small account but the fact is that the emotions, skills a trader need to trade a small account is different from managing other ppl fund and even far different from a huge fund and learning and practicing the skills you need to manage a huge fund is a waste of time if a trader is just starting out. We need to take just one step at a time and I believe many new traders (after being burned) first goal isn't to make a huge amount of money and risking whole account isn't what a consistently profitable trader does and it's far from it which offer little helps in a trader learning curve.
  • #1,086
  • Sep 16, 2016 4:31am Sep 16, 2016 4:31am
My Trade Idea Today:

Concentrating on only USD/CAD pair, hope it would make sweet closing for this week.

Wish Me Luck.
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  • #1,087
  • Sep 16, 2016 4:41am Sep 16, 2016 4:41am
Quoting RoelsMajor
My Trade Idea Today: Concentrating on only USD/CAD pair, hope it would make sweet closing for this week. Wish Me Luck. {image}
USD/CAD looks bearish for me too on the short term, price is moving sideways and we are at the upper end of the range. Need to watch out the 1.3135 support below though, doesn't feels comfortable shorting into support level. Your SL looks a little tight too.
  • #1,088
  • Sep 16, 2016 4:45am Sep 16, 2016 4:45am
Quoting Alpha8
Although I do not fully agree with treating your small accounts like a big one as there is a lot of difference between the two but the way domba manage his risk might not help a new traders much and it could foster the gambling mentality like benaiah said. You can risk a little more on a small account than those pro traders with big accounts. Just like we start our learning curve from demo to live and to big account then manage small fund then slowly grow into a big one. There's a lot of new traders dreams or maybe a widespread myth about practicing...
About demo I agree with you. About tiny accounts you are wrong. When you have small account you are forced to use higher leverage. This makes you have less margin to handle mistakes. With big account you don't need worry about take exact entry. Even you can use strategies for compound a big trade using different levels and don't suffer problems with some DD. For me if you are consistent with small account, you will be with big. Other thing is greedy but that is not trading strategy issue. It's trader issue
Try don't lose pants never...
  • #1,089
  • Sep 16, 2016 4:53am Sep 16, 2016 4:53am
Quoting Alpha8
{quote} USD/CAD looks bearish for me too on the short term, price is moving sideways and we are at the upper end of the range. Need to watch out the 1.3135 support below though, doesn't feels comfortable shorting into support level. Your SL looks a little tight too.
If We look at D1 and H4, It is at the Upper of the Range (Cheap Tickets) according to Sisse. I had sell position yesterday and booked some nice profits, and I hope today the continuation for this pair to go bearish. My SL is so tight for Initial, Hope all is well, and no need to manage later according to prices moving.
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  • #1,090
  • Sep 16, 2016 5:30am Sep 16, 2016 5:30am
Quoting braintheboss
{quote} About demo I agree with you. About tiny accounts you are wrong. When you have small account you are forced to use higher leverage. This makes you have less margin to handle mistakes. With big account you don't need worry about take exact entry. Even you can use strategies for compound a big trade using different levels and don't suffer problems with some DD. For me if you are consistent with small account, you will be with big. Other thing is greedy but that is not trading strategy issue. It's trader issue
I'm not very sure why is small account traders are forced to use high leverage especially in recent years where you have a lot of nano accounts (100unit) and Oanda even offer 1 unit as the smallest amount.

Regarding taking exact entry point, I don't see why big accounts do not need exact entry. That depends on the strategy, if one is scalping on big account and only have 5pips target, then every pips count on their 100bucks account or 100k account.

I'm not sure either whether big account or small account suffer different DD if they employ the same strategy? DD is based on the strategy itself and risk the traders take. Big account might suffer slippage though as their trading size increase.

I'm mostly referring to emotional side of things though but strategy do impact to some extend as I believe and experienced.
  • #1,091
  • Sep 16, 2016 5:34am Sep 16, 2016 5:34am
Quoting RoelsMajor
{quote} If We look at D1 and H4, It is at the Upper of the Range (Cheap Tickets) according to Sisse. I had sell position yesterday and booked some nice profits, and I hope today the continuation for this pair to go bearish. My SL is so tight for Initial, Hope all is well, and no need to manage later according to prices moving.
Yup, hopefully everything is well Maybe I'm a longer term trader therefore not feeling comfortable having tight SL.
  • #1,092
  • Sep 16, 2016 5:38am Sep 16, 2016 5:38am
Quoting Alpha8
{quote} Yup, hopefully everything is well Maybe I'm a longer term trader therefore not feeling comfortable having tight SL.
Well, They are pushing north in a bang, the trade is not going well now, manage My SL...
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  • #1,093
  • Sep 16, 2016 5:54am Sep 16, 2016 5:54am
Quoting RoelsMajor
{quote} Well, They are pushing north in a bang, the trade is not going well now, manage My SL...
Hope things will turn around for you soon, how do you manage SL for this trade?

BTW, the LH on your chart doesn't looks really like a LH since price hasn't breaks below its previous swing low and the last swing low (the one marked with L) doesn't takes out the swing low earlier too.
  • #1,094
  • Sep 16, 2016 6:05am Sep 16, 2016 6:05am
Quoting Alpha8
{quote} I'm not very sure why is small account traders are forced to use high leverage especially in recent years where you have a lot of nano accounts (100unit) and Oanda even offer 1 unit as the smallest amount. Regarding taking exact entry point, I don't see why big accounts do not need exact entry. That depends on the strategy, if one is scalping on big account and only have 5pips target, then every pips count on their 100bucks account or 100k account. I'm not sure either whether big account or small account suffer different DD if they employ...
Leverage its easy. If you start with 25$ your min lot size is 0.01. if you have 250$ and you can use 0.1 or 0.01. With first example you cant choose other options because its min lot size you can use. In second example you have more options and you can decide what leverage want use in every trade. That was I want said with "forced
Try don't lose pants never...
  • #1,095
  • Sep 16, 2016 6:11am Sep 16, 2016 6:11am
Quoting Alpha8
{quote} Hope things will turn around for you soon, how do you manage SL for this trade? BTW, the LH on your chart doesn't looks really like a LH since price hasn't breaks below its previous swing low and the last swing low (the one marked with L) doesn't takes out the swing low earlier too.
I set a wider SL. And using the script to closed all trades if the prices continues move not in My favour, until the limit of My tolerance. We will see until the limit 1.3225.

Yea it is not a LH now. But it was in H1, till now the chart prints new LH.
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  • #1,096
  • Sep 16, 2016 6:13am Sep 16, 2016 6:13am
Quoting braintheboss
{quote} Leverage its easy. If you start with 25$ your min lot size is 0.01. if you have 250$ and you can use 0.1 or 0.01. With first example you cant choose other options because its min lot size you can use. In second example you have more options and you can decide what leverage want use in every trade. That was I want said with "forced
If that's the case then it will not be considered forced since traders have the option to choose brokers like Oanda and others that offer nano account
  • #1,097
  • Sep 16, 2016 6:26am Sep 16, 2016 6:26am
Quoting RoelsMajor
{quote} I set a wider SL. And using the script to closed all trades if the prices continues move not in My favour, until the limit of My tolerance. We will see until the limit 1.3225. Yea it is not a LH now. But it was in H1, till now the chart prints new LH.
Doesn't really recommend widen SL but as long as it is under your risk management everything will be good hopefully price will turned around in your favor!

I see how you see LH now, that will offer you early singal and catch at the very reversal but it usually lowers the probabilities. Just my 2 cents though
  • #1,098
  • Sep 16, 2016 7:43am Sep 16, 2016 7:43am
Quoting RoelsMajor
{quote} I set a wider SL. And using the script to closed all trades if the prices continues move not in My favour, until the limit of My tolerance. We will see until the limit 1.3225. Yea it is not a LH now. But it was in H1, till now the chart prints new LH.
Lucky you got out of that USDCAD short as quick as you could Roels...
  • #1,099
  • Edited 8:00am Sep 16, 2016 7:45am | Edited 8:00am
Quoting Alpha8
{quote} Doesn't really recommend widen SL but as long as it is under your risk management everything will be good hopefully price will turned around in your favor! I see how you see LH now, that will offer you early singal and catch at the very reversal but it usually lowers the probabilities. Just my 2 cents though
Havoc and Chaos after the News. US Numbers is Good, CAD Numbers is Flop. Is not very good or flop number. So take My Loss. Maybe USDCAD will make a new range after today. Back to -53%, not a good way to close the week, but overall this week still profit 8.4%. So positive in thingking.

Edit:
- Made one more trade on UJ coz this pair range still not moving so much today, hope will go north with the stronger dollar across the board, and will preserve good recovery for loss today.
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  • #1,100
  • Sep 16, 2016 7:58am Sep 16, 2016 7:58am
Quoting RoelsMajor
{quote} Havoc and Chaos after the News. US Numbers is Good, CAD Numbers is Flop. Is not very good or flop number. So take My Loss. Maybe USDCAD will make a new range after today. Back to -53%, not a good way to close the week, but overall this week still profit 8.4%. So positive in thingking.
Ya, at least you're up 8.4%, that is quite a nice gain. Keep it coming and you'll recover all your losses very soon. Waiting for a breakout for USD/CAD to happen, it has been consolidating and chopping around for quite a long time.
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