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  • #1,141
  • Sep 17, 2016 1:27am Sep 17, 2016 1:27am
Quoting Fisher755
{quote} Nobody should rush with it. From the emotions part it is easier too trade part time . The more time passes by, the more expirience trader gets, which is also very important part of trading. So the later, the better.
Indeed, the emotional side of things is very important and easier too if we do not make it full time. Who doesn't want to rush for their dream? Need to save up a lot if manage to trade full time
  • #1,142
  • Sep 17, 2016 2:58am Sep 17, 2016 2:58am
Quoting benaiah
{quote} Okay, if you are talking about someone who has been consistently profitable for over a year, then? Is there proof of this? I'm sorry, but one reason we have live TEs here is for transparency, since it's easy for someone to look good, and get others to latch on to them.
If U talk about transparency and helping each other, still no fully transparency without fully open all parameters in your TE like Deposit, Lots, Profit Gain, everything must be open since this thread to promote fully transparency and learning purpose.

But I do appreciate all people's choice and thank U what ever people prefer.

For me Honesty is very important parameter in Life.

Quoting Alpha8
{quote} Indeed, the emotional side of things is very important and easier too if we do not make it full time. Who doesn't want to rush for their dream? Need to save up a lot if manage to trade full time
Would U mind to share your TE and help Us?

Quoting benaiah
{quote} Okay, I could not resist. Added a gold position. I think, at least should be a good bounce here, possibly gap up over the weekend. We'll see... {image}
Haha... What I have said. I am right this time. Flag formation with support for Gold. We still don't know when Prices would break the range.

Quoting Koop
{quote} With Discipline in check..... Almost every strategy should work
Jack Schwager said No! He said that, Not Me.

Quote
‘To succeed as a trader, it is absolutely necessary to have an edge. You can’t win without an edge, even with the world’s greatest discipline and money management skills. If you don’t have an edge, all that money management and discipline will do for you is to guarantee that you will gradually bleed to death. Incidentally, if you don’t know what your edge is, you don’t have one.’

fooled by randomness in art
Meditation All Time Return: 8.9%
  • #1,143
  • Sep 17, 2016 4:28am Sep 17, 2016 4:28am
Quoting RoelsMajor
Would U mind to share your TE and help Us?

I do not use TE but I do have quite a few accounts on myfxbook though, here is the link if you like to have a look, https://www.myfxbook.com/members/Cro...ader-t/1261737

I only trade the HTF, not sure it will help since most traders here are trading LTF and scalping but hope it could help at least a little bit. Have a nice weekend
  • #1,144
  • Sep 17, 2016 4:50am Sep 17, 2016 4:50am
Quoting Alpha8
{quote} I do not use TE but I do have quite a few accounts on myfxbook though, here is the link if you like to have a look, https://www.myfxbook.com/members/Cro...ader-t/1261737 I only trade the HTF, not sure it will help since most traders here are trading LTF and scalping but hope it could help at least a little bit. Have a nice weekend
Well. What I can see U have good thing in common, keeping lost below 2% and take profit max about 4% and the DrawDown is nice at -11.5%. Stable Gain or Lost per month during 2016.

Do You trade Big account ($10,000 and above) or below? For Me $10,000 and above are big account.

It does not matter trading HTF or LTF.

For Me looking for 1000 pips and above is a nuts. For U looking 20-100 pips is a nuts. Scalping is looking ten pips or below with a bigger lots size. It is just Style and Art.
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #1,145
  • Sep 17, 2016 6:55am Sep 17, 2016 6:55am
Quoting roelsmajor
{quote} well. What i can see u have good thing in common, keeping lost below 2% and take profit max about 4% and the drawdown is nice at -11.5%. Stable gain or lost per month during 2016. Do you trade big account ($10,000 and above) or below? For me $10,000 and above are big account. It does not matter trading htf or ltf. For me looking for 1000 pips and above is a nuts. For u looking 20-100 pips is a nuts. Scalping is looking ten pips or below with a bigger lots size. It is just style and art.
scalping it's a very dif. Art.the best of all is a strategy like pvsra and good knowleg about sl and tp and taking risk no more than 1/20
of the capital..
  • #1,146
  • Sep 17, 2016 8:14am Sep 17, 2016 8:14am
Quoting RoelsMajor
{quote} If U talk about transparency and helping each other, still no fully transparency without fully open all parameters in your TE like Deposit, Lots, Profit Gain, everything must be open since this thread to promote fully transparency and learning purpose. But I do appreciate all people's choice and thank U what ever people prefer. For me Honesty is very important parameter in Life. {quote} Would U mind to share your TE and help Us? {quote} Haha... What I have said. I am right this time. Flag formation with support for Gold. We...

Lol, Roels, if you think Discipline and money management are less important than the so called "Edge" try trading any strategy at all without properly following your entry and exit rules (discipline) or using mental or hard SL's and lets see how far one can go...

What are we even talking about.... An Edge is actually the combination of everything that makes a person profitable... An Edge = strategy/Skill + Risk Management + Discipline..

If a person has a good system but doesn't have the Discipline to follow the system rules and the risk management required manage losses and keep them far lower than the wins in order to ensure net profitability.....

Then where is the Edge??

Maybe Jack wasn't being clear or maybe the quote wasn't exactly the way you put it...
  • #1,147
  • Sep 17, 2016 9:38am Sep 17, 2016 9:38am
Quoting RoelsMajor
{quote} Well. What I can see U have good thing in common, keeping lost below 2% and take profit max about 4% and the DrawDown is nice at -11.5%. Stable Gain or Lost per month during 2016. Do You trade Big account ($10,000 and above) or below? For Me $10,000 and above are big account. It does not matter trading HTF or LTF. For Me looking for 1000 pips and above is a nuts. For U looking 20-100 pips is a nuts. Scalping is looking ten pips or below with a bigger lots size. It is just Style and Art.
Yes, I'm trading low 6 figures account in total. I do trade other asset class other than fx like stocks, CFDs, indices, etc. except options, especially the one with the word binary in front.

I do not have any max profit target though, my rule is simply only take trades that offer min 1:2 Risk:Reward (1:3 for stocks), I do not trade anything below that and sometimes it can goes to 1:3 or 1:4 depends what the market offers but mostly between 2R-3R.

Regarding lot sizes, I do think shorter time frame traders should risk less than what I risk, I'm risking 2% per trade but as we goes down lower to LTF and our frequency increase, the risk per trade should be even lower, the conventional 1-2% risk per trade doesn't suits all TF, scalpers or day traders trading 10-50 trades a day risking 2% is a disaster to me, been in that position in the past. When shit hits the fan, it can easily gives us huge DD and it takes much more efforts to recover from DD than to prevent it to occur in the first place. There's quite a few other differences other than this like scalpers & day traders might want to have a daily limit etc.

BTW, I've been having this kind of results for about 3-4 years now. Not many traders/investors consider my track record as stable, only a handful of traders says that When there are 3 or more consecutive months of losses, 90% will push the stop button and seek other alternatives
  • #1,148
  • Sep 17, 2016 10:27am Sep 17, 2016 10:27am
Quoting Alpha8
only take trades that offer min 1:2 Risk:Reward (1:3 for stocks),
i trade anything that gives me 1:1 but i keep re-evaluating the positions while they are open and move TP accordingly ..

so basically make sure i get my money back first -> RR 1:1
and then see how far it may go, as we all know, in the end, the market makes this decision.

i have a lot 3 lot trades that where exit with 0.20$ profit as they went against me after some time and i just pulled the plug.
the broker loves that kind if trades the most

but i also have some 1:3 - 1:10 trades as well due to set a fixed TP.. and if conditions change re-evaluate.

but that's just a thing of trading style .. there is no right or wrong in how to do this.
  • #1,149
  • Edited 11:08am Sep 17, 2016 10:49am | Edited 11:08am
Quoting Fisher755
{quote} I didn't say "change direction", I said reconsider the direction ( re-enter if so, sit on the hands if so or reverse if so).
Still don't agree with this. Number of pips is relative to PA context and the pair that you are trading, as well as how much you are risking per pip.

Edit: I don't have time now, but if/when I have time and if you are interested, I'll give an example of what I mean with charts...
  • #1,150
  • Edited 7:35pm Sep 17, 2016 11:18am | Edited 7:35pm
Quoting RoelsMajor
{quote} If U talk about transparency and helping each other, still no fully transparency without fully open all parameters in your TE like Deposit, Lots, Profit Gain, everything must be open since this thread to promote fully transparency and learning purpose. But I do appreciate all people's choice and thank U what ever people prefer. For me Honesty is very important parameter in Life. {quote} Would U mind to share your TE and help Us? {quote} Haha... What I have said. I am right this time. Flag formation with support for Gold. We...
When I mentioned transparency, it was in the context of verifying whether someone has a track record of successful trading.


My TE is public, which to me is transparent enough. There are many others also who have chosen not to share how much they are trading with. If I start getting strict with this, I'll have to block people from posting who also don't show amounts, lots size, etc, or don't have TE or links to their myfxbook accounts.

Regarding the transparency I was talking about, it has to do with a verifiable track record to prove they are a successful trader. No one in this thread has a verifiable track record of successful trading. If they do, they are not sharing it, which is the same as not having it, since it is not verifiable.

But I would not expect anyone in this thread to have that record yet, since the whole point of this thread is to create that track record, and encourage others to reach that goal.

If anyone here claims they have a successful track record of trading, and already have 1 year profitability, but is not willing to show that record, that is not transparent, and is not honest.
  • #1,151
  • Sep 17, 2016 11:23am Sep 17, 2016 11:23am
Quoting Alpha8
{quote} I do not use TE but I do have quite a few accounts on myfxbook though, here is the link if you like to have a look, https://www.myfxbook.com/members/Cro...ader-t/1261737 I only trade the HTF, not sure it will help since most traders here are trading LTF and scalping but hope it could help at least a little bit. Have a nice weekend
Welcome Alpha8,

I haven't reviewed your track record, as you just now recently posted a link to it... If you'd like to be a part of the goals here, let me know... Can you link your myfxbookk account to your signature?

Edit: Also regarding HTF trading, I for one, welcome that, as it is what I'm trying to stick with for my TE account. Problem is I keep getting caught up in the watching the trades too much...
  • #1,152
  • Sep 17, 2016 11:29am Sep 17, 2016 11:29am
Quoting benaiah
{quote} Welcome Alpha8, I haven't reviewed your track record, as you just now recently posted a link to it... If you'd like to be a part of the goals here, let me know... Can you link your myfxbookk account to your signature? Edit: Also regarding HTF trading, I for one, welcome that, as it is what I'm trying to stick with for my TE account. Problem is I keep getting caught up in the watching the trades too much...
Alpha8, CONGRATULATIONS!

It appears, from looking at your myfxbook account, you have over 1 year of profitability. I assume you don't mind me adding you to the list?
  • #1,153
  • Sep 17, 2016 11:34am Sep 17, 2016 11:34am
btw, I'm not that familiar with myfxbook, just used it a little. Is there a way we can verify the account is actually owned by the user who links to it here?

Looking for full-transparency and verification for anyone who uses myfxbook....
  • #1,154
  • Sep 17, 2016 12:22pm Sep 17, 2016 12:22pm
Quoting benaiah
Also regarding HTF trading, I for one, welcome that, as it is what I'm trying to stick with for my TE account. Problem is I keep getting caught up in the watching the trades too much...
Try watch a few more asset classes and you'll have no time to watch the same trade too much It is also important to monitor more markets when trading HTF, that will give you more trade setups and diversify.

Quoting benaiah
{quote} Alpha8, CONGRATULATIONS! It appears, from looking at your myfxbook account, you have over 1 year of profitability. I assume you don't mind me adding you to the list?
Thanks, you can add me if you like to. All traders even the pros strive to achieve consistent profits year after year and keep working hard on their trading. It's an ongoing process But sometimes I might not be active in online forums as I might get busy with other projects and work.

Quoting benaiah
btw, I'm not that familiar with myfxbook, just used it a little. Is there a way we can verify the account is actually owned by the user who links to it here? Looking for full-transparency and verification for anyone who uses myfxbook....
The easiest way is to have their myfxbook trading account name align with their FF account I've edited mine just in case you want a little more transparency. BTW, myfxbook offers a lot more statistics and feature than FF TE and also have a better UX, highly recommend traders to get familiar with it..
  • #1,155
  • Sep 17, 2016 12:35pm Sep 17, 2016 12:35pm
Quoting nullx8
{quote} i trade anything that gives me 1:1 but i keep re-evaluating the positions while they are open and move TP accordingly .. so basically make sure i get my money back first -> RR 1:1 and then see how far it may go, as we all know, in the end, the market makes this decision. i have a lot 3 lot trades that where exit with 0.20$ profit as they went against me after some time and i just pulled the plug. the broker loves that kind if trades the most but i also have some 1:3 - 1:10 trades as well due to set a fixed TP.. and if conditions change...
1:1 ratio is good as long as you've above 51% of win rate and you'll be profitable in the long run There's no hard rules with these risk:reward stuffs as long as we have positive expectancy with our strategy. In fact, when the R ratio increase, the win rate usually is going to decrease and vice versa.
  • #1,156
  • Sep 17, 2016 2:26pm Sep 17, 2016 2:26pm
Quoting Alpha8
In fact, when the R ratio increase, the win rate usually is going to decrease and vice versa.
exactly that is my experience as well
also the money is longer exposed to the market and longer exposal means simply longer waiting to place the next trade (unless you move stop to BE, which is in most cases not such a good idea *unless you riding a large trend))
just some politican saying something stupid .. and your stop is blown plus a few pips slipage.


i try to stay above 50% aim for 1:1 .. and if the market give me more .. the better
most of the times i move TP .. is after re-evaluating .. finding a point where i would have entered the market if there were no trade, and at this point i just add to the position the size i would have risked based on the stop value calculation for the 2 %

all this sticking to a certain RR ratio is in my opinion a license to get broke ...
but well thats maybe just me as iam not that fond with predicting things very far ..

as for the pips its the same thing ... 10 pips are much more easy reached as 100.
i risk 2% on each trade. no matter how far SL goes .. its just a matter of position size.
on 50 pip stoploss i may can buy only 1 lot, but on a 5 pip stoploss i can buy 10 lots having the same financial risk.
the cost (if i loose) will be slightly the same (ignoring comissions and spread)

but iam out after 10 pips and can move on scanning for another oppurtunity, instead of waiting all day for the 100 to come and make the same money anyway.
sure the 1 lot trade is cheaper .. but i can risk the 10 lots again in 30 minutes .. where on the 100 pip trade my risk is locked for the whole day blocking me from placing another one ..
  • #1,157
  • Sep 17, 2016 7:55pm Sep 17, 2016 7:55pm
Updated the list, and we now have a 1 year profitable trader.

https://www.icloud.com/numbers/0hFdZ...Profit_Ability

Congrats again to Alpha8, being all quiet and modest all this time, we did not know he had already achieved the goal we are striving for in this thread, lol...

Btw, Alpha8, your draw-downs do not look bad. And from what I understand from professional traders, it is to be expected to have some bad days, weeks, and even months. I can't imagine why anyone would not call your track record a success.

Plus, your successful run goes back to May 2015, and you never went into red, as your gains continued to protect your account from those "bad" months.

Look forward to seeing you continue your success . and thanks for your input on this thread!
  • #1,158
  • Edited 4:27am Sep 18, 2016 4:14am | Edited 4:27am
Quoting Koop
{quote} Lol, Roels, if you think Discipline and money management are less important than the so called "Edge" try trading any strategy at all without properly following your entry and exit rules (discipline) or using mental or hard SL's and lets see how far one can go... What are we even talking about.... An Edge is actually the combination of everything that makes a person profitable... An Edge = strategy/Skill + Risk Management + Discipline.. If a person has a good system but doesn't have the Discipline to follow the system rules and the risk...
Well, I disagree about your definition about "The Edge". Edge is pure about technical in chart, about strategy. Risk Management plus Discipline follow later. If We talk about the Edge, maybe something like this:
- Channel Breakout System by Williams Eckhardt and Richard Dennis (Turtle System)
- First Strike Pluz by Joel Rensink
- Or even maybe PVSRA TVT 20+ by Fischer

Then We should analyze the profitability in the Long Term period becoz this opposite Theories:
- Any system or method based on optimization will fail in the long run. This is because markets change and evolve, they do not remain constant. So if you structure a system based solely on the past, it cannot survive the future. (Victor Sperandeo)
- Price movements have the lack-of-memory property, which We would today call the Markov property. (Bachelier)
- Markets in all places and ages work alike. (Mandellbrot)

Quote
You cannot beat the market - but more than half of currency speculators play some form of trend-following strategy.

So what I have talking about here is pure Strategy. I think there is not much Traders here that sharing Why he/she entered the market, when he/she would exit, or something like that.

I have share lot of that, Fisher did the same, Benaiah did the same, Teton, Mozak. Anyway without that, it is impossible to understand what "The Edge" that Traders had.

Thats why I said A good Strategy is very important too in the long run, and That is "The Edge", even after We jump into trade, all will turn into luck "winning trade" or "losing trade".

Every Opportunity (1) is 50:50 chance probability always. Never 70:30 or 90:10. So the probability never means any "statistically" data.
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #1,159
  • Sep 18, 2016 6:56am Sep 18, 2016 6:56am
I was thinking and imo about an edge is spot level to entry or exit at a time frame I choose, I don't know what is the real meaning about " an edge " 😀
Quoting RoelsMajor
{quote} Well, I disagree about your definition about "The Edge". Edge is pure about technical in chart, about strategy. Risk Management plus Discipline follow later. If We talk about the Edge, maybe something like this: - Channel Breakout System by Williams Eckhardt and Richard Dennis (Turtle System) - First Strike Pluz by Joel Rensink - Or even maybe PVSRA TVT 20+ by Fischer Theon We should analyze the profitability in the Long Term period becoz this opposite Theories: - Any system or method based on optimization will fail in the long run. This...
3Some Candle TacticaL
  • #1,160
  • Sep 18, 2016 11:45am Sep 18, 2016 11:45am
Quoting RoelsMajor
{quote} Well, I disagree about your definition about "The Edge". Edge is pure about technical in chart, about strategy. Risk Management plus Discipline follow later. If We talk about the Edge, maybe something like this: - Channel Breakout System by Williams Eckhardt and Richard Dennis (Turtle System) - First Strike Pluz by Joel Rensink - Or even maybe PVSRA TVT 20+ by Fischer Then We should analyze the profitability in the Long Term period becoz this opposite Theories: - Any system or method based on optimization will fail in the long run. This...
Statistics is not that simple as most think, at undergaduate class you learn the overly simplified general concepts. Most who claim they know satistics didnt even knew that the statistical software generate iteration based on generic number, which invalidate the whole result. Psi calculation should start somewhere, and it should be defined before iterations even start. On academics you ll learn fundamentals on econometrics 2 on your second year, this is the case when you take economics studies. If you grasp the concept, you ll see that statiatics is more about art than exact sciences.

Statistics rely heavily on assumptions, most didnt even know when the assumptions they use been invalidated. I even found that more than half of published academics journals didnt comply to the fundamentals, therefore the result most likely wrong. Many author of this journal got doctoral degree, what irony. On most in depth topics they dont talk around distribution like average and everything you find on the basic material, on more advance topics you ll find they talk more about density. Here you ll know limitations of your models.

This limitations related to the change in the market you mentions. Models be it mathematical or statistical have limitations, knowing this limitations give you early warning. The edge you mentions, if you think clearly, r inline with statistics theory which is what been happened in the past tend to repeat. This "edge" been working well in the past, so you expect they ll work in the future. See, it exactly statistics concept. Theory start as hypothesis, and after some time that it cant be proved wrong, it ll called theory. This process always involve data and statistics.

The fact that you havent fully grasp it, doesnt mean it wrong. Try talk about binary addition to grade schooler. They ll swear that no way 1+1 equal to 10, they might even call you stupid or crazy.
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