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50 to 22000 in one week

  • #2,701
  • Oct 21, 2016 7:54am Oct 21, 2016 7:54am
Quoting farhad10
Bags; Suggest you to change you TE to private for 1 month and if you were successful again public it. It's obvious that you are trading with full stress . Best regards
https://en.wikipedia.org/wiki/Base_rate_fallacy

https://en.wikipedia.org/wiki/Choice-supportive_bias

https://en.wikipedia.org/wiki/Clustering_illusion

https://en.wikipedia.org/wiki/Hot-hand_fallacy

https://en.wikipedia.org/wiki/Illusion_of_control
  • #2,702
  • Edited 9:04am Oct 21, 2016 8:35am | Edited 9:04am
GUYS take it or leave it. I have a lesson, to learn from bagXpert.
It's clear that the strategy he's using isn't delivering like it did at first.
However, Dude has kept hopes high and kept focused. He might be in the hole now, but to him, he still sees some light and that's why he never stops placing trades.
MOST of you/us trash and jump from strategy to strategy and hunt our asses off forever....for a holy a*s grail...

bagXpert proves to you that there's no holy sh*t. Stick to and master your KICK until you can scare BruceLee! Proffessionals know that, and that's why most people on this thread are just quick and happy to bash up.

Keep Walking bag!

Over to you.
L.L.L.T
  • #2,703
  • Oct 21, 2016 9:55am Oct 21, 2016 9:55am
Quoting KayStreet
GUYS take it or leave it. I have a lesson, to learn from bagXpert. It's clear that the strategy he's using isn't delivering like it did at first. However, Dude has kept hopes high and kept focused. He might be in the hole now, but to him, he still sees some light and that's why he never stops placing trades. MOST of you/us trash and jump from strategy to strategy and hunt our asses off forever....for a holy a*s grail... bagXpert proves to you that there's no holy sh*t. Stick to and master your KICK until you can scare BruceLee! Proffessionals know...
Nice to see you here Kay!
MT4/MT5 EAs/Indicators/Alerts coder
  • #2,704
  • Oct 21, 2016 10:53am Oct 21, 2016 10:53am
Quoting kpclick
{quote} No, he would blow both accounts simultaneously. What are you proposing is essentially taking a loosing strategy with high leverage and tiny buffer for a margin call (like this one), reverse and hoping it will be a winning strategy. I can assure you, it will not. I have tested large number of systems that looked promising. Over number of instruments. Over number of years. Over number of time frames. Each of this combinations in Monte-Carlo fashion with thousands of separate simulation for number of input variations. That gives me really accumulated...
yep, forget reversing a losing strategy, it has been said and demonstrated many times that you will get the same results.
  • #2,705
  • Oct 21, 2016 11:35am Oct 21, 2016 11:35am
Quoting FerruFx
{quote} Nice to see you here Kay!
Always Sir!
L.L.L.T
  • #2,706
  • Oct 21, 2016 5:17pm Oct 21, 2016 5:17pm
Quoting kpclick
{quote} https://en.wikipedia.org/wiki/Base_rate_fallacy https://en.wikipedia.org/wiki/Choice-supportive_bias https://en.wikipedia.org/wiki/Clustering_illusion https://en.wikipedia.org/wiki/Hot-hand_fallacy https://en.wikipedia.org/wiki/Illusion_of_control
Some interesting reading but how is this going help bags
  • #2,707
  • Oct 21, 2016 5:54pm Oct 21, 2016 5:54pm
Quoting farhad10
Bags; Suggest you to change you TE to private for 1 month and if you were successful again public it. It's obvious that you are trading with full stress . Best regards

Bags this will help you a lot.
Dragon Rider
  • #2,708
  • Oct 21, 2016 7:17pm Oct 21, 2016 7:17pm
Quoting barloc
{quote} Bags this will help you a lot.
And how exactly this is going to help him if he himself admitted he does not read this thread? Have you seen any of his comments in last couple hundreds of posts?

Let me guess your way of thinking:
1. You saw at the beginning fantastic performance
2. After that you saw that performance collapsed to floor
3. You noticed number of posts that you perceived as negative
4. You linked his lack of performance to a pressure by "negative" posts
6. So you think if there will not be any "negative" posts his performance will come back to fantastic

Is that correct? If so here is some reading for you:

https://en.wikipedia.org/wiki/Attribution_bias
https://en.wikipedia.org/wiki/Correl...mply_causation

Perhaps you should read those issues in more appropriate psychology literature. I use WIKI links as quick, convenient pointers.

BTW, he could fix it by just "blocking" myself and anybody else whose posts are "negative". Yet, he has not done it so. Why not? That is a little exercise for you...
  • #2,709
  • Oct 21, 2016 7:29pm Oct 21, 2016 7:29pm
Quoting kpclick
{quote} And how exactly this is going to help him if he himself admitted he does not read this thread? Have you seen any of his comments in last couple hundreds of posts? Let me guess your way of thinking: 1. You saw at the beginning fantastic performance 2. After that you saw that performance collapsed to floor 3. You noticed number of posts that you perceived as negative 4. You linked his lack of performance to a pressure by "negative" posts 6. So you think if there will not be any "negative" posts his performance will come back to fantastic Is...
Why are you wasting with these people man? Let them make 100000 pips every day.
  • #2,710
  • Oct 21, 2016 7:42pm Oct 21, 2016 7:42pm
Quoting goldfinger
{quote} Why are you wasting with these people man? Let them make 100000 pips every day.
For three reasons:

1. I consider for every appraiser here, there are 10 others who don't show up, but read (now or in the future). I want to give them serious pointers for better understanding why this way of speculating will not work for them. If at least one of them will stop and think for a moment, my time is not wasted.

2. It is a great psychological sand box. I want to see how people react to facts, when greed, hope, ego and other emotions are in play, regardless of their status here - newbies or gurus. I find it very revealing

3. I want to keep the score of this method, for future record.
  • #2,711
  • Oct 21, 2016 8:06pm Oct 21, 2016 8:06pm
Quoting FerruFx
{quote} Nice to see you here Kay!
I would like to add sound and pop up alert.
Attached File(s)
File Type: mq4 Wave Signal.mq4   5 KB | 420 downloads
  • #2,712
  • Oct 21, 2016 8:52pm Oct 21, 2016 8:52pm
Well another week has passed and taking a look at the way Bags has traded it seems he has the uncanny knack of buying tops and selling bottoms and then trying to average down the losses in the vain hope of turning the trade into a winning situation. This has never been a good idea as we all know just one loss in a hundred or a thousand can wipe out an account and to keep repeating the process over and over is to play a dangerous game with ones capital.

However that is not to say the method is without merit. To me it is simply a matter of getting the chart analysis on a better footing. In other words to get the direction correct in the first place would make all the difference in the world to the results. Though that is stating the ble_ding obvious.

This can be fixed easily enough with better loss limitations and never compounding them. This then gives the trader the opportunity to review the situation and possibly change ones mind about direction, any losses can can then quickly be made back.

The part of this whole exercise that interest me is in keeping the account small and pushing it to its limits.
  • #2,713
  • Oct 21, 2016 9:57pm Oct 21, 2016 9:57pm
Quoting Nala66
In other words to get the direction correct in the first place would make all the difference in the world to the results. Though that is stating the ble_ding obvious.
If you can get the direction correct in the first place, why would you use his method in the first place? In that case wouldn't it make more sense to put large capital like 500000 instead 50, make relatively small size bet with very large margin for error, collect your target 1% profit for 20/30 or so pips move and close the day with 5k profit? Repeat that for two weeks and you can have holiday for the rest of the year.

Quoting Nala66
To me it is simply a matter of getting the chart analysis on a better footing.
In other words you believe you can make sharp point entries with guaranteed little draw-downs by better analyzing historical price occurrence?

Quoting Nala66
This can be fixed easily enough with better loss limitations and never compounding them.
Do you mean tighter stops? Is not his ultimate stop - margin call - very close already, but 40/50 or so points? Do you think if you make it tighter it will be hit even more often? And if yes, that will require not just sharp entries, but super sharp entries? Does not his current record proves, after 30+ margin calls that for this method 40/50 stop is already too close? And you think you can fix that but reading historical price occurrence - charts?
  • #2,714
  • Oct 22, 2016 12:18am Oct 22, 2016 12:18am
Quoting kpclick
{quote} If you can get the direction correct in the first place, why would you use his method in the first place?
Because it allows people with small venture capital to have a go.

[/quote]In that case wouldn't it make more sense to put large capital like 500000 instead 50, make relatively small size bet with very large margin for error, collect your target 1% profit for 20/30 or so pips move and close the day with 5k profit?[/quote]

You think that because the capital is large you have less to risk..you are assuming a 1% win for 5k. This is why people jump off tall buildings because they lose the lot.

[/quote]Repeat that for two weeks and you can have holiday for the rest of the year. {quote}

People don't do this because they are greedy by nature and will continue to push their luck.

[/quote]In other words you believe you can make sharp point entries with guaranteed little draw-downs by better analyzing historical price occurrence? {quote}

Of course, but it is not for me to explain how here.
  • #2,715
  • Oct 22, 2016 12:50am Oct 22, 2016 12:50am
Quoting kpclick
{quote} And how exactly this is going to help him if he himself admitted he does not read this thread? Have you seen any of his comments in last couple hundreds of posts? Let me guess your way of thinking: 1. You saw at the beginning fantastic performance 2. After that you saw that performance collapsed to floor 3. You noticed number of posts that you perceived as negative 4. You linked his lack of performance to a pressure by "negative" posts 6. So you think if there will not be any "negative" posts his performance will come back to fantastic Is...

Nope. All the negative posts dont really mean much, my advice was coming from a trader to another even if hes a gambler as having a visible TE makes it a lot harder to trade ( think self-conscious) and right now hes struggling really bad. You wont get this if you are not a trader and no wiki link will help you know this feeling.

His entries show he is not the best trader or that good but all I see here is a lot of bitter people cheering for another man to fail-- that is sad.

I wish you all green pips
Dragon Rider
  • #2,716
  • Oct 22, 2016 1:07am Oct 22, 2016 1:07am
Quoting barloc
{quote} all I see here is a lot of bitter people cheering for another man to fail-- that is sad.
That is what I see too, very little in the way of support. It must really be hurting some folks that he is still on top and a long way from failing. All they can do is keep wishing it upon him.
  • #2,717
  • Oct 22, 2016 1:08am Oct 22, 2016 1:08am
I think its not impossible to make 50 ---> 22000 but the time limit you have chosen 1 week makes it almost impossible.

May be 3 to 5 years are sufficient for this target with well planned strategy and mm.
  • #2,718
  • Oct 22, 2016 2:18am Oct 22, 2016 2:18am
I think, that bag can reach 1 million in 12 months from 1000. Larger timeframe and lesser leverage. Say 4 hours and 100. What do you think?
  • #2,719
  • Oct 22, 2016 3:14am Oct 22, 2016 3:14am
Quoting todamoon
I think, that bag can reach 1 million in 12 months from 1000. Larger timeframe and lesser leverage. Say 4 hours and 100. What do you think?
It's truly sad to see this sort of misinformation constantly regurgitated without much thought and recycled into different forms.

It doesn't matter if you start with a $100 or $10,000 account.
It doesn't matter if you trade with 50:1 or 500:1 leverage.
It doesn't matter if you are a long term/short term trader.

The only truth (yes, singular. All others are mistruths) that matters is this: Control your risk, and if your system is truly a profitable one, you will eventually end up in the green.

Consider this:
If you start with a small account, the gain per pip is smaller because you can only afford a smaller amount of units.
If you compare an account with 50:1 leverage with a 500:1 leverage, the gain per pip is also smaller, and the up-front cost is higher.
If you're an intra-day trader vs a swing trader, you're more likely to make more trades.

So, where then does any of those points make you more/less profit?

The answer lies in controlling your risk in terms of % of account risked per trade. I believe all platforms have this feature.
Yes, this means you must have a defined stop-loss for every trade - or else you wouldn't be able to ascertain your risk in the first place!

Consider this:
Even if you have a system that has a 40% chance of success, but because it has a fixed 2% risk and 4% profit ratio - you'd still end up in the green!
  • #2,720
  • Oct 22, 2016 3:21am Oct 22, 2016 3:21am
well


Bagz giving that money to charity or people in need would be more fair than burning it

my opinion though

your a good trader but you should know when to to slow down or take a break
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