SharePosts by domgilberto1
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[quote]incometrader posted:
That's right your risk stays the same if your compound rate stays the same. But, if you want to reduce your risk as you grow your account, you may want to compound at a rate of 50% for example. What you're saying is fine for something like a term deposit where there is no risk, but with FOREX (as risky as it can be) it's wise to reduce risk.[/quote]
I completely disagree. There is no logical reason to decreasing your risk percentage of your closing balance? If you choose 2% risk profile of your closing balance then it is always 2% of your closing balance...
Why ......
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Is it just me or does anyone else find this thread (and some posts - no offence) a little strange?
(example - numbers are rounded to nearest pound to keep it simple...)
Balance: $10,000
Risk: 2% - $200.00 (at this point, assuming a loss is $200 and a win is $400 (1:2 R;R)
Loss: $200.00 - Account at close is $9,800 - 2% is now = $196
Loss: $196.00 - Account at close is $9604 - 2% is now = $192 (rounded)
Loss: $192.00 - Account at close is $9412 - 2% is now = $188 (rounded)
Win: $376.00 - Account at close is $9788 - 2% is now = $196 (rounded)
Win: $392.00 - Account at close is $10,180 ......
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Wow what happened in september may I ask?
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Good stuff.
Am I right in saying that all it takes it one seriously bad week/month etc for your account to go bust though despite having a high strike rate all at the hands of your mental stops?
Be interesting to see how long this account lasts for (said in a positive tone as I wish you all the best)
Thanks for clarifying and writing back.
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There is no silver bullet or guarantees in trading, so stop looking/asking, In New Traders Sep 24 2012 at 11:37
"Developing a trading plan with more than 51% success rate."
Agree with everything else. But the strike rate is dependent on the strategy at hand (unless you`re referring to your own rules)
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How come you keep getting bonuses from the beginning?
Fantastic results btw.
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So who` account is this? Who is making the profits?
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[quote]
Yes he is using large lot sizes but it is a contest,he has also won the last 15 trades in a row so he is doing something right.
When was the last time you went to a casino and won 15 times off the bat[/quote]
He has duplicate positions where he enters 3x in one market after a few minutes. He`ll blow up before the end of the competition. One trade and he`ll wipe out most of his gains mark my words.
Everyone stop getting a stiffy over it. Wait until the end of the competition, I see this every time they have a competition.
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It`ll blow up.... you`ll see.... It always happens.
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Im not going to lie this thread makes me laugh ever so slightly.
I don't mean to be cocky or rude and nor do I think I know it all.
But if this thread was created to confide in others and restore confidence in yourself and the belief that there are people making a living then its just plan daft to be sceptical in the first place...
You`re making ridiculous errors? It must be obvious to you? If you cannot sit tight in a position, then to put it simply, you`re screwed and need to realise that you`re destroying everything you know...
And why are you taking trades with a negative R;R.... ser......
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