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Anyone Trading For A Living?

FxMasterGuru (FxMasterGuru)
Jun 19 2013 at 12:39
1607 posts
Davidfxonline posted:
Everyone has their idea of risk...


Yes, that is very true. Risk can be very subjective and also very real when REAL money (USD, not cent...) is at stake. Most people simply oversestimate their risk tolerance. It is just a word until it becomes flesh cutting reality.

Playing around with cent account is just for fun. At best. But more actually it is just wasting of time. I have not seen anybody buying a Porsche or even a motorcycle from cent account profits. Not to mention making a living out of it.

Except for one case: when they sell the promising strategy to newcomers and noobs... Well, that is the only exception!

Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
PipTeacher (PipTeacher)
Jun 19 2013 at 18:55
15 posts
I don't understund how this DD is calculated.
It can not be used same calculation if trader compound his profit or if he doesn't compound.
For example my DD is 5.52%, I didn't compound profit and DD graph shows DD of 7.35% for that day.
Still, I see my DD as 5.52% and I continue with my trade.
I wish to say that trader knows what is his DD at any given moment but DD graph is something else.
That is why I have asked David about reinvesting his profit.

It is most important to have your risk setup to zero!
petays
Jun 19 2013 at 19:32
86 posts
PipTeacher posted:
I don't understund how this DD is calculated.


'lies, damned lies, and statistics'
DD can be calculated in many ways depending which kind of result you wish to have.
And you can even 'cheat' statistics by doing properly timed withdrawals or deposits to your account between open and close of a trade or trades. Only way to see what has been done is to see the account statement!
AFAIK Myfxbook tries to show most realistic (worst) DD in account stats pane but in other places they use different calculations.

To my understanding DD should be calculated from account equity as explained here:
https://www.investopedia.com/terms/d/drawdown.asp
But in practise this is impossible because it requires you to have real time access to the account equity to track changes in it.
Myfxbook 5 minute resolution is quite good but not truly accurate.
And people can turn account updating off when they like so statistics could not be updated for the time that is not favourable for them.

All business is based upon trust.

Being Bearish or Bullish Makes No Difference
PipTeacher (PipTeacher)
Jun 19 2013 at 21:56
15 posts
Wow, I didn't know that you can manipulate with myfxbook statistics.
Thanks for sharing.
I agree with you on DD!
It seems that Myfxbook calculate daily DD.
For example: today I had DD 5.52%, statistcs has shown 7.35%, later I've made 100pips of profit.
Now statistics is showing daily DD of only 2.96% wich is correct if you make daily statistics.
But the worst and only true DD was 5.52% which statistics doesn't show nowhere.

I know that you can manipulate statistics on zulutrade and I told that to their support.
Their answer was: We are familiar with that and We have allready put that in our agreement.
The worst thing is that very rarely someone reads their agreement especialy fine print.

It is most important to have your risk setup to zero!
fxmoney1
Jun 20 2013 at 06:12
7 posts
i am living on forex,forex is my only income source

incometrader (incometrader)
Jun 20 2013 at 06:21
157 posts
fxmoney1 posted:
i am living on forex,forex is my only income source

Really? You must be living on next to nothing... Or do you have other accounts?

togr (togr)
Jun 20 2013 at 06:23
4862 posts
dxnation (dxnation)
Jun 20 2013 at 19:09
61 posts
incometrader posted:
fxmoney1 posted:
i am living on forex,forex is my only income source

Really? You must be living on next to nothing... Or do you have other accounts?


This forum is not about being sarcastic to others my friend. He might or might not have other accounts.

Let us not spark any unwanted conversations and go off-topic with verbal duels. :)

Be among the very successful Forex Account Managers.
rob559
Jun 20 2013 at 19:45
1916 posts
fxmoney1 posted:
i am living on forex,forex is my only income source



congratulaion very good trading bro

fxmoney1
Jul 01 2013 at 07:57
7 posts
incometrader posted:
fxmoney1 posted:
i am living on forex,forex is my only income source

Really? You must be living on next to nothing... Or do you have other accounts?


yes man i have other a/c also, and i do options also

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