Dove_Services's Posts

There is no way you can average hundreds of pips per month in General Jan 27, 2018 at 02:10

Really? Do you have a myfxbook link to substantiate the claim?

Low leverage is dangerous, why? in Experienced Traders Dec 09, 2016 at 21:50

The idea that lower leverage increases risk is intuitively wrong and defies basic financial logic. I am amazed by the conflation in logic used to make such an argument. Leverage is simply a form of financing mechanism. Leverage vs no leverage is just financing structure between the use of debt vs no debt. Your capital (equity) put to risk is still the same regardless on the level of leverage. What changes is the trigger mechanism to stop out your position. In the real world, if you borrow to invest and you looses it entirely the lender will go after you. In the forex market, your broker cuts y...

Solid Growth in Trading Systems Dec 08, 2016 at 07:53

Even if you go for a full re-set, you are still way ahead in terms of equity growth. You obviously are doing many things right except in letting your losses run. I think long term you need to address your discipline in taking losses if you intend to have continuity in this business. What can you do with those open trades? I am afraid there is no good answer. You can bite the bullet and there are a couple of ways of doing it. The first one is to wait for a retracement or a rally depending on your position so that you get an optimal exit and therefore minimising your losses. The second option is...

Redemption in Trading Systems Dec 08, 2016 at 06:56

I think intuitively you know where your main trading issues are that you need to work on i.e. protective stop and re-entry strategy. I believe if you adopt a two part position sizing strategy it would alleviate (partially) stop out issues because of stops being too tight. The benefit of taking some profits off the table allows you to give your remaining stop more room to handle market noise.I also believe the nature of your trading style i.e. trading at the edges require a re-entry strategy as part of your overall trade plan because when you trade at inflection points you cannot always get it ...

Solid Growth in Trading Systems Dec 07, 2016 at 23:04

You seem to have a problem taking losses. Your history of 499 closed trades show a 489/10 mix in terms of win/loss. Your 18 open trades are all in a loosing positon. You have more open trades in a loosing position than your entire trading history. I don't know what your risk management strategy is but there are parallel stories which show high win rates and growing equity but not managing loosing positions that eventually got out of control and blew the accounts. My 2 cents.

Redemption in Trading Systems Dec 07, 2016 at 00:28

Your trade set up is aggressive and the price target is premised on some kind of trend change. When a currency pair like the USDCHF had a trend run, there are two possible development, a consolidation and then a resumption of trend or a trend change. Typically to mitigate such risk, I personally would go for a two part position sizing strategy. Essentially you are selling at resistance and that means the risk to your trade is at support. That is a definition of a range bound market. The first part of your trade would be to buy back your short at support. You take some profits when your positio...

Redemption in Trading Systems Dec 06, 2016 at 06:45

Cool. All the best on your USDCHF trade.

Redemption in Trading Systems Dec 05, 2016 at 22:20

Your trade plan on the USDCHF trade and the price target @ $0.9876 effectively assumes a trend change. The definition of a trend change is when two swing lows are taken out (1H TF) and that is what needs to happen to get to your price target.Trading against the trend is a low probability trade. What was your trade rationale? Setting a 300 pips target to justify the risk on the trade is not the way to trade IMO - not a viable path to long term success. There are ways to mitigate the risk on such a type of trade but I would first like to understand your rationale.

Redemption in Trading Systems Dec 05, 2016 at 11:02

So what is your trading plan on your usd/chf open position?

Is demo trading enough before real account? in New Traders Dec 05, 2016 at 10:58

You can try Jarratt Davies professional training program. It is the same program that all his junior traders have to take. The best part of it is free.JD has been ranked by Barclays Hedge as the 2nd top currency trader for 6 consecutive years by trading performance. They are trading results that are externally verified and not claims as made often by some of the forex marketeers.

Show your profitable account here. in General Dec 05, 2016 at 06:43

The anomaly is in the best/worst trade in $ and in pips. This is normally a tell tale with position sizing issue.Referring to the Nov 14 trades (attachment 2), there were two trades that accounted for approx. 50 % of the total net profits out of a sum total of 1896 trades. Normally one would expect a bell curve distribution in profits and the outlier in contribution are the profit runs. However in this case, it is a position sizing problem that was 200X the normal that was the contributor. In other words, a substantial amount of leverage risk was taken to generate the profit. If it had gone th...

Redemption in Trading Systems Dec 05, 2016 at 01:47

You said success requires a plan and a calculated strategy. What was your plan and strategy behind your three trades? sharing your outcomes is meaningless.

Are you blocked in discussion groups....?!!! Please come here and tell us..! in General Nov 29, 2016 at 22:10

I do hope you don't carry your twisted sense of logic to your trading world for the sake of your subscribers. You are the one providing a commercial product or service and as such is subject to a level of public interest and scrutiny. Others have pointed out your track record of successive blown accounts and in a relatively short period of time. I have pointed out certain facts as available from your most recent trading account. The issue at hand is that you are providing a product that would raise clearly alarm bells in terms of risk. If you disagree, you are clearly at liberty to defend ...

Are you blocked in discussion groups....?!!! Please come here and tell us..! in General Nov 28, 2016 at 23:52

There is a universal principle that applies to every buyer of service or goods and that is "caveat emptor". In other words, it is an individual responsibility to ensure the product being procured is suitable and conforms to the risk profile of the intended investor. Having said that, retail forex is unfortunately populated by a sizable population that is simply ignorant, uninformed and or will engage the market with a gambler's attitude.The discussions regarding TraderFX and its trade performance cannot escape the facts : the use of a cents account, the 75 % DD, and the trade sta...

audcad spread widening in Experienced Traders Nov 23, 2016 at 10:37

I believe the broker is JOF licensed in Vanuatu. I think the problem with artificial spreads is that it does not necessarily have to be transacted and hence the client may be at the mercy of the broker. If the broker is unregulated or the regulatory regime is weak, there is no practical recourse. It always amaze me why do people go for brokers that are regulated by highly questionable jurisdictional authority.

audcad spread widening in Experienced Traders Nov 23, 2016 at 04:22

I am assuming you posted the details of your situation over at FPA. Based on specific information, I would think what the broker did is highly contentious. Whether you have any practical recourse against your broker is another matter given the jurisdictional authority. The fact is your position was stopped out based on a spread of at least 220 pips. relative to where trades were taking place during that session and immediate sessions would suggest something that is highly irregular. Your case is an example of why choice of broker and jurisdictional oversight is important.

Show your profitable account here. in General Nov 22, 2016 at 09:03

Thanks for clarifying. The trade performance statistics on your account are commendable albeit it is light on history. In this business, history is everything because time and sample size is needed to filter out randomness and luck in a market that is governed by distribution of probabilities. Your comparative hypothetical examples unfortunately does not explain away the need for history primarily it is premised on an assumption that is dependent on history. In any case, I wish you trading success that your account will continue to perform as you think it will.

Show your profitable account here. in General Nov 21, 2016 at 08:33

What is balance protection? It is a term I am not familiar with. Can you please explain. Thanks.

Classic books about forex in General Nov 17, 2016 at 21:08

I don't believe I advocated ignoring TA in trading. The fact is I am a technical trader by choice from the beginning when I started in this business 16 years ago by obtaining a diploma in technical analysis from the Australian Technical Analysts Association. TA and trading though integrally bound are in effect different streams and in my journey I found eventually less is more. I don't use any indicator other then a couple of moving averages but rely on price action, EW for market structure and median lines for turns and exit points. Having said that, trade psychology is my biggest cha...

hedge forex positions with no loss in General Nov 17, 2016 at 12:50

All the best and good trading.

All Quotes
AUDUSD	0.653	USDCHF	0.9147
EURJPY	169.15	EURCHF	0.9785
EURGBP	0.8563	GBPJPY	197.36
EURUSD	1.0699	GBPUSD	1.2487
USDJPY	158.04	USDCAD	1.3679

EURUSD	1.0699	GBPUSD	1.2487
USDJPY	158.04	USDCAD	1.3679

Posts by Dove_Services