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Good Trading Results 700% in 3 weeks BUT what should i do next?

goodboyfx
Feb 16 2016 at 09:43
56 posts
chiecghethunam, nice performance. I'll ignore the insult. best of luck.

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goodboyfx
Feb 19 2016 at 19:11
56 posts
account has grown to be over 900%. I didnot get any advice from successful traders. I guess they are busy or didn't see this thread. Again guys if you became so successful in trading that you gave up your career to trade fulltime for hedge fund or asset mgmt firm? please share your experience..i am also lookinng for hedge fund to take me on board, i am getting some offers BUT i wanted to see if anyone went that road and how was the expereince... thanks

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aidysproule
Feb 20 2016 at 22:36
18 posts
goodboyfx posted:
Hi guys, over the past 3 weeks, i turned my live account to staggering 700% and balance is running into 30K+ i started with 4000.


After having seen that you are using a custom date, I changed it to see your full trading history and noticed you have a 87.28% drawdown.

So, my advice is withdraw your money and go back and look at your trading method because you've got lucky. The 2 days on 22nd and 25th Jan where you lost ~4k pips. There goes your lowest risk model blowing 1000pips.

I have 10 different risk models waiting to be implemented with lowest being able to sustain 1000 pip DD.


Plus the number of trades you have open at aa single time is dangerous, you are over trading. For example on 19th you have 47 trades open at the same time on the EURUSD. That's just stupid.

5trategy
Feb 21 2016 at 07:40
10 posts
hows your risk management, & demo or real acc

5trategy
Feb 21 2016 at 07:40
10 posts
sorry didnt see the previous page

trade2good
Feb 21 2016 at 07:51
26 posts
goodboyfx posted:
account has grown to be over 900%. I didnot get any advice from successful traders. I guess they are busy or didn't see this thread. Again guys if you became so successful in trading that you gave up your career to trade fulltime for hedge fund or asset mgmt firm? please share your experience..i am also lookinng for hedge fund to take me on board, i am getting some offers BUT i wanted to see if anyone went that road and how was the expereince... thanks


Just trade for yourself and enjoy the profits! Why would you wanna take stress working for hedge funds and like?

You make money, you spend it....thats the best life

goodboyfx
Feb 21 2016 at 08:24
56 posts
aidy, thanks for the input on subject other than what i am discussing in this thread. Let me tell you something about stats in MT4. I told this about it 100th time already. If you start account with $1000 and say you lost $877 your DD will be 87% once you re-deposit some funds say $3000 more and trade like a PRO with 10% DD for the rest of your life and make $1million. The mt4/myfxbook will continue to show the max dd as 87% all your life. So if you had a messed up begining on a 'small' account i'd say one shouldn't hold it against them. I tell all traders to go in market with atleast 15K to fully sustain longterm. At one point i didnot have enough capital, i had no choice to come in with 1K after which i assesed i need 3K to really get on with it. So, i came back and reclaimed the glory. So this 87% you're talking isn't relative because its based on 1K balance. Given market volatility 1K isn't suitable. The fact i realized that and injected 3K and now i stand where i am, deserve a lil credit but it's ok. I am not here to seek credit. Feb 19, if i opened 47 transactions, then there must've been a reason for it. I just wish people sticked to the subjects of threads, so the forums can serve the subject of discussion.

Thanks for commenting tho, appreciate the bump up.

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hibikidan333
Feb 21 2016 at 09:53
9 posts
hibikidan333
Feb 21 2016 at 09:54
9 posts
@goodboyfx it looks like you're building a position against the trend, is that right? If so, have you considered back-testing this? I get the feeling there will be one situation that could wipe your account out.

goodboyfx
Feb 21 2016 at 10:50
56 posts
I am trading manually only. SO i can't imagine back-testing. I am taking both directions. I know exactly where buyers will stop and sellers will come.so i switch sides. Market plays like a movie in front of me. The whole plot. Sometimes market does whip me & puts me in some DD but thats only to stop hunt on extreme moves knocking down some retail stops. Usually i manage to get out within few hours of the trade with a bit of profit. Gives me time to refresh & plot next moves. I been in market 7 yrs seen enough sorrowful days this time, its a comeback. It's victory till the end.

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