Thanks Trader-Dale you are brilliant! I have been following for the last few weeks, what a great system! Would you mind to post your results at the end of each week like you did on page 1?
1
Trader Dale - daily trading levels
- #1,642
- Dec 10, 2016 7:46am Dec 10, 2016 7:46am
- Joined Dec 2015 | Status: Trader | 7,803 Posts
Hi everybody, I just punched Dales, September results from the first page, to my excell trading spreadshhet: I changed pips to U$ . So if your account was 1200 U$, and you risked 1% i.e 10 bucks THEN: you had a 12% growth. Your expectancy was : R 0,3748 Meaning you would make 0,378 Cents per Dollar risked. Awsome results. Having the stomach to risk 2% per trade: THEN. that would give you a 24% growth. That, compound , should triple your capital in less than 6 months! And it would reach 100.000 U$ in less than 4 years...and a Million (roughly), in...
consistent results could easily yield more confidence...
taking lets say a 500 account and risking 10% as an example and winning net of 10 trades in a month takes you to about 8700 in 3 months...
now i dont want to put anything into people's heads but the results are there, 10% on a 500 account is 50 - most people will trade risking more than that anyway around here on their usual account so i see no harm in trying...
btw - starting from 500 and up to where we are now from the thread start could have taken you to Ģ200,000 from September to November... not including the trades for December... thats a nice xmas present for someone
just a thought
well done Dale, great thread and even better trader
- #1,643
- Dec 10, 2016 11:53am Dec 10, 2016 11:53am
{quote} hi I am new to forex too. May I know what does it mean by RRR 1:1? Following your trade calls, where should the TP level be? 10 pips away? And how much volume should I trade?
RRR 1:1 means that the Reward Risk Ratio is 1 to 1. Means if you are risking 10 pips then you are targeting 10 pips as well. Similarly if you risk 20 pips then you target 20 pips. so the ratio remains 1 to 1.
Dale always suggests 12-pip stop loss and a 10-pip target. And if you are new to Forex then you can start with trading Micro lot (0.01).
Hope it helps
KhalidY
- #1,646
- Dec 10, 2016 2:40pm Dec 10, 2016 2:40pm
Thanks Trader-Dale you are brilliant! I have been following for the last few weeks, what a great system! Would you mind to post your results at the end of each week like you did on page 1?
.
- #1,647
- Dec 10, 2016 2:54pm Dec 10, 2016 2:54pm
- Joined Nov 2008 | Status: Trader | 2,143 Posts
I just don't want Dale's levels to get to the wrong people or do something that could potentially hurt their accounts unless they're 100% sure they know what they're doing.[/quote]
ABSOLUTELY:
-10% risk, means that if you loose 10 times in a row youré out. Impossible?....what if it happens when you reach a million?
-500 account, 10% risk on 12 pips, the leveraged lot is: BIGGER than 50000...you get hit, loose 50 bucks and move on..no problem.
-BUT what if black swan hits, and your stop is only "honoured", 1500 pips below...I think the eurchf gap was even bigger!!!!!
-If your broker sues you for negative balance, you would be down some 10000 ...
-No problem ,you sell your car and start again..
-It goes great for a few months and you hit 50000....
..keep risking 10% with the lot size accordingly....
-Black swan hits
, your broker could sue for 10 million!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Having an edge is great, and can make a lot of money, BUT one needs to calculate ALL THE RISKS over and over again....take precautions...
THEN...enjoy...
...your hard work...
ABSOLUTELY:
-10% risk, means that if you loose 10 times in a row youré out. Impossible?....what if it happens when you reach a million?
-500 account, 10% risk on 12 pips, the leveraged lot is: BIGGER than 50000...you get hit, loose 50 bucks and move on..no problem.
-BUT what if black swan hits, and your stop is only "honoured", 1500 pips below...I think the eurchf gap was even bigger!!!!!
-If your broker sues you for negative balance, you would be down some 10000 ...
-No problem ,you sell your car and start again..
-It goes great for a few months and you hit 50000....
..keep risking 10% with the lot size accordingly....-Black swan hits
, your broker could sue for 10 million!!!!!!!!!!!!!!!!!!!!!!!!!!!!Having an edge is great, and can make a lot of money, BUT one needs to calculate ALL THE RISKS over and over again....take precautions...
THEN...enjoy...
...your hard work...
- #1,649
- Dec 11, 2016 2:41am Dec 11, 2016 2:41am
- Joined Nov 2008 | Status: Trader | 2,143 Posts
And last but not least...there is a way of avoiding the risk of black swan, in my opinion the biggest enemy.
And that is:once your account has grown to a decent sum, and your lot size could be dangerous on a "huge gap"...you can open an account through a company, which belongs to you, but in case of bankruptcy would protect your house your car socks and underwear...
Need to talk to a lawyer, and hope your Broker accepts the account, I read most do..
Btw, black swans used to happen once in 2 or 3 decades....we had 3 lately in less than 2 years...some Brokers honoured the original stops, many didnīt, some sued for negative Balance, some didnīt...thereīs tons of legal battles Happening right now, starting with the eurchf, and continuing with the brexit cable ones...
Wellcome to a real Business world.
And that is:once your account has grown to a decent sum, and your lot size could be dangerous on a "huge gap"...you can open an account through a company, which belongs to you, but in case of bankruptcy would protect your house your car socks and underwear...
Need to talk to a lawyer, and hope your Broker accepts the account, I read most do..
Btw, black swans used to happen once in 2 or 3 decades....we had 3 lately in less than 2 years...some Brokers honoured the original stops, many didnīt, some sued for negative Balance, some didnīt...thereīs tons of legal battles Happening right now, starting with the eurchf, and continuing with the brexit cable ones...
Wellcome to a real Business world.
- #1,654
- Dec 12, 2016 2:44am Dec 12, 2016 2:44am
- | Membership Revoked | Joined Sep 2016 | 1,511 Posts
Intraday levels for 12.12.2016
PT 10 pips, SL 12 pips.
Happy trading
PT 10 pips, SL 12 pips.
Happy trading
