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Attachments: 50 to 22000 in one week
Exit Attachments

50 to 22000 in one week

Quoting Mr.Dan
{quote} Because EQ was in positive.
Again, I never seen a broker who will allow negative balance on the account... regardless equity. The very moment, his account balance goes below margin level (usually more then 0% and definitely not below), open profitable positions should be closed (either completely or partially) to cover the loss and margin requirement.

Here is excerpt from Activtrades customers agreement:

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https://cdn.activtrades.com/document..._agreement.pdf

And so I still maintain, this is either fraud in cooperation with the broker or there is other associated (not shown) account involved.
Although Bags hasn't reached his goal, he's still +8,500 euros net profitable which is very impressive. The guy has talent, just needs to tweak his risk management approach to eliminate the crazy equity swings.
I think it's simply a BUG, there was no gap and IMO ac*******es would be ashamed to have such a partner like bugXpert .
Quoting HeyYou
I think it's simply a BUG, there was no gap and IMO ac*******es would be ashamed to have such a partner like bugXpert .
If this negative balance is a "bug" then maybe his positive balance from the first week also was a "bug"... we should not be biassed seing losses are a bug and winnings as a non-bug...
Well here we go with yet another week and still I am sitting on the fence with this.
8Bags just hasn't cracked one of the bigger runs that will inflate his account by a huge amount. He doesn't have to start with any more than the €50 but I guess if he has the profits in the bank then why not, the profits will be so much more.

We just witnessed his €8 grow by over 45 times and still he stuck to his guns and did not take the profit preferring the to allow the account to close out on the margin. Most people would have taken the profit much earlier but this is not what he is about so no point in bitching about it. It is not the journey that is important, it is the bottom line end result and he has plenty of funds to continue.

Take a look at this 4hr Dax chart and you can clearly see the potential that has eluded him thus far.
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Quoting Nala66
8Bags just hasn't cracked one of the bigger runs that will inflate his account by a huge amount. He doesn't have to start with any more than the 50 but I guess if he has the profits in the bank then why not, the profits will be so much more. ... Take a look at this 4hr Dax chart and you can clearly see the potential that has eluded him thus far. {image}
In my opinion, his approach MAY BE (???) workable if:

1. For each round commit small, consistent amount, let it be that 50E. Be consistent, always start each round with the same amount as very small % of balance. After increasing balance significantly, that small started amount may be lifted.

2. Book some good profit, like 1000%, that is great. After such a win restart the whole cycle. It would cover many lost rounds. Not long ago he was shooting with 1000s as deposits, which simply depleted his previous wins in rocket speed.

3. Dont try to pick ultimate home runs. It is not going to happen. On the 4h chart you shown, to pick the very bottom is exactly the hardest moment to enter in the opposite direction. It requires super conviction, balls of steel and DISCIPLINE. One miss and hope of the home run is gone for next couple months. So booking fantastic profits like 1000% more regularly, would keep the ball running and allowing better chance for COMPOUNDING.

If I would like to GAMBLE similar way, that would be my play. But folks, dont try it at home without serious consideration or at least extensive demo. And remember greed and wealth fantasies are your enemies
Quoting kpclick
{quote} In my opinion, his approach MAY BE (???) workable if: 1. For each round commit small, consistent amount, let it be that 50E. Be consistent, always start each round with the same amount as very small % of balance. After increasing balance significantly, that small started amount may be lifted. 2. Book some good profit, like 1000%, that is great. After such a win restart the whole cycle. It would cover many lost rounds. Not long ago he was shooting with 1000s as deposits, which simply depleted his previous wins in rocket speed. 3. Dont try...
Well said ....
Prachait Saxena
Quoting kpclick
{quote} In my opinion, his approach MAY BE (???) workable if:
See this is the problem with threads like this, we all have opinions and they vary greatly. I know what I would do and you know what you would do but this is not our journey, it belongs to Bags.

Sure we can express what we think could have, should have, would have done but we are not Bags. I take my hat off to the guy for showing his results where all the dirty washing is displayed for all to see and witness.

I don't know the outcome, nor does anyone else, though we may speculate. Had he pulled the plug on the thread when he was 24K up then we would have been without a resolution one way or the other but the fact would have shown a positive outcome at that time.

This is what makes trading interesting to follow different approaches rather than listen to the same old same old we typically get. I have my way of trading and I guess others have theirs and if it works for each of us then that is fine but that doesn't mean we close our minds to what other are demonstrating. We may take the persons approach and either adapt it or adopt it to our own situations or simply dismiss it altogether.

Actually No1 in your list is the way I trade, I either blow a small amount or I get to bank some profit. I put in the effort to get a certain % each day and continue working until I achieve this. However I have taken a $200 start and banked $9,000 taking most of the year to do so. Bags did better in one week, so who is right he or I?

It is not for me to say but to observe and see if I can improve.
Quoting Nala66
{quote}I know what I would do and you know what you would do but this is not our journey, it belongs to Bags. ... Bags did better in one week, so who is right he or I? It is not for me to say but to observe and see if I can improve.
I partially agree with you...
Whose approach is right, yours or bagX? Time will tell, longer term result matters. At the moment he is not consistent with his (very risky) approach, missing opportunities to recover his losses and last, but not least sometimes making very stupid decisions. On top of that there are (mine) doubts about honesty of this thread...

None less...

Of course we should not be closed minded and should be willing to explore new opportunities. Being open minded also includes "not being stuck in blind corner". At the moment bagX is stacked in that corner...

My criticism of bagX in this thread is aimed mainly to green newcomers and quick bucks seeker. They are most likely to be caught by this thread and mindlessly repeat this approach. That is why I keep the record. And sometime slip in some ideas. Some will think, others will not ,)
Quoting Nala66
{quote} See this is the problem with threads like this, we all have opinions and they vary greatly. I know what I would do and you know what you would do but this is not our journey, it belongs to Bags. Sure we can express what we think could have, should have, would have done but we are not Bags. I take my hat off to the guy for showing his results where all the dirty washing is displayed for all to see and witness. I don't know the outcome, nor does anyone else, though we may speculate. Had he pulled the plug on the thread when he was 24K up then...
What would you say is the overall sentiment about the way in which the thread starter trades?
Let us talk forex.
Quoting Prospect
{quote} What would you say is the overall sentiment about the way in which the thread starter trades?
Definitely negative.
However I pay little attention to such sentiment.

I am much more interested in the actual results the trader proves.

That is why I am on the fence as to whether this is a favorable method to incorporate in ones trading or something to be dismissed out of hand.

I don't trade the Dax because I cannot get the same leverage i.e 400:1 my max is 200:1 so I would need to have more in my account to get similar results. This means risking more.

Trading profitably is not difficult but to push as hard as Bags is doing is very difficult and I don't know if this is sustainable in the long run.

Like KP I wouldn't recommend this to newbies.
Quoting Nala66
{quote} Definitely negative.
I've actually taken the time to read some pages, and it would appear that most people believe he is a guru. Most people bring up the fact that he margin called his account several times, while others only bring up the fact that he has reached his goal, while others state that he missed it. I assume that EVERYONE has or will margin call at some point, and what we should focus on is the run up of the account, followed by how much of the profit you take down.
Let us talk forex.
Quoting Nala66
However I pay little attention to such sentiment. I am much more interested in the actual results the trader proves. That is why I am on the fence as to whether this is a favorable method to incorporate in ones trading or something to be dismissed out of hand. I don't trade the Dax because I cannot get the same leverage i.e 400:1 my max is 200:1 so I would need to have more in my account to get similar results. This means risking more. Trading profitably is not difficult but to push as hard as Bags is doing is very difficult and I don't know if...
Have you yet to find something which is " sustainable in the long haul" as it would appear that most people are aiming for that, instead of aiming for making money in the short short term and making many withdrawals. I say that, as someone here on ff mentioned that "black swan" events have been occurring much more frequently and it would be a good idea for EVERYONE, to change their "money management" approach and make a ton of withdrawals. What do you think?
Let us talk forex.
Quoting Prospect
{quote} I've actually taken the time to read some pages, and it would appear that most people believe he is a guru. Most people bring up the fact that he margin called his account several times, while others only bring up the fact that he has reached his goal, while others state that he missed it. I assume that EVERYONE has or will margin call at some point, and what we should focus on is the run up of the account, followed by how much of the profit you take down.
You are correct but it must be pointed out that Bags has always controlled the amount of risk he is willing to take.

Many people cannot do this. If money is in the account it is always in danger of being risked, the temptation to attempt to average down a loss is very great. People just will not accept losses and these are the true gamblers in the game. Scaling into winners is different (also called pyramiding) but when the worm turns the result is the same and a loss is made. The balance is a very fine line, if the profit runs it is huge, if not it is a draw down.
Quoting Prospect
{quote} Have you yet to find something which is " sustainable in the long haul" as it would appear that most people are aiming for that, instead of aiming for making money in the short short term and making many withdrawals. I say that, as someone here on ff mentioned that "black swan" events have been occurring much more frequently and it would be a good idea for EVERYONE, to change their "money management" approach and make a ton of withdrawals. What do you think?
You know what, I think this is one of the best questions I have read for a long time though you have asked several in one. Let me run through this..

1) Sustainable... Yes but it is not simply a single something, I have over 50,000 hours under my belt.

2) Paying yourself is a very important component and people have differing sums in mind and different long term objectives. I am retired now and I am quite happy making my beer money and paying for the utilities.

3) I know what you mean by Black Swan events but there is actually no such thing. They are generally quoted by people on the wrong side of the event.

4) I regard any money lodge with the broker as at risk. Thus when the account gets to a point where you are not willing to risk it then bank the difference to get back to your comfort zone.

I think we are getting off the subject here.
Quoting Nala66
{quote} You know what, I think this is one of the best questions I have read for a long time though you have asked several in one. Let me run through this.. 1) Sustainable... Yes but it is not simply a single something, I have over 50,000 hours under my belt. 2) Paying yourself is a very important component and people have differing sums in mind and different long term objectives. I am retired now and I am quite happy making my beer money and paying for the utilities. 3) I know what you mean by Black Swan events but there is actually no such thing....

Thank you very much for sharing your thoughts and answering the question which I have placed. I sure wish I was apart of an active thread like this one, back when it was..... active, but I guess now one would have to just create his or her own thread and hope to get the same attention and results as bags did. I am going to get a few hours of sleep before London opens. See you then!
Let us talk forex.
Quoting Nala66
{quote} You are correct but it must be pointed out that Bags has always controlled the amount of risk he is willing to take. Many people cannot do this. If money is in the account it is always in danger of being risked, the temptation to attempt to average down a loss is very great. People just will not accept losses and these are the true gamblers in the game. Scaling into winners is different (also called pyramiding) but when the worm turns the result is the same and a loss is made. The balance is a very fine line, if the profit runs it is huge,...

I assume because of the fact that everyone can be willing to "risk" different amounts, but I don't think that bag controlled the amount of risk he is willing to take, as I don't think anyone "prior" to placing a trade is willing to lose or even margin call their account. The allowing the drawdown to get bigger is because of "Random reinforcement principle" best mentioned here https://www.theforexguy.com/forex-random-reinforcement/ It is honestly a good read, and I think that is where most traders fall under, and that is why we saw such a wild swing in the equity curve of bag. Give a look at the article and tell me what you think and if it applies to the way bag trades.
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Let us talk forex.
Quoting kpclick
{quote} If this negative balance is a "bug" then maybe his positive balance from the first week also was a "bug"... we should not be biassed seing losses are a bug and winnings as a non-bug...
That was 100% real, check the trade list.

In regard to your previous post: this kind of trading has potential (talking from my experience), forwardtest demo (in case of an automated system) or live with money that you can afford to lose, don't gamble because spread will kill profits in the long run. Sounds obvious to me but worth repeating.
Quoting HeyYou
{quote} That was 100% real, check the trade list.
...

but so positions that pushed his account balance into negative teritory are 100% real, they are on the trade list... in other words if what is on trade list in real than fact is his balance was negative for 2 hours, which is not likely with normal broker...
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