Its hard to describe something that is based on experience and years spent staring at the screen. Basically I trade based on price patterns and support/resistance levels but it still takes past experience to make the right judgment.
The cumulative gain on this account is not accurate. Being a PAMM account the account receives tiny (few cents to few dollars) adjustments very often either as deposit or withdrawal and it looks like Myfxbook is considering those adjustments as regular deposits and withdrawals and resets the equity balance to the balance at the time of the adjustment instead to the time of proper deposit or withdrawal. At this point the gain is shown as 79.95% but in reality should be over 100%, simple net deposits/net profit is at 128%. I'm going to ask myfxbook team what they can do about this, hopefully they can make adjustment in their system to ignore those transactions and if it can be done I probably should expect some comments that that statement is manipulated, oh well I don't give a s...
very impressive indeed :) I'm amazed by your win/loss ratio. Although I understand that win/loss ratio means nothing in reality. Yours is still... impressive to say the least.
judging by the little information on your managed-kf page, it seems that your risk reward ratio is 1:1, and you definitely pick your intra-day battles correctly.
How does one vouch? You definitely deserve mine.
My style is different from yours, I have around 50% win/loss ratio, but my losses are small, and my winners are usually big.
I always cut risk at logical areas, and manage accordingly.. although I only have around 2 weeks of data on here, my curve should start to shape up soon.. I sometimes get taken out at B/E + some pips, but thats all part of my style.
My usual stop is around 20-50 pips, and I usually try to wait for 1:3 RR setups at least. But when a nice 1:1 setup appeals to me I will take it. Or will take b or c trade, with as low as 0,10% of my equity. My maximum risk per trade is 1%.
anyways, enough of my ranting.. Looking forward to follow your progress, now lets bag some pips :)
You can vouch only after you have 3 vouches from someone else, I'm going to get you started with one from me. Be respectful of other here and try to help as much as you can and others will vouch for you as well.
Thanks for your input, I look forward to following your progress as well.
I seem to be making most of my trades using 2-3 PA patterns that pretty much always come through for me. I don't pay much attention to what the RR is. My main concern is that the trade is profitable which is generally determined by the entry and I exit at S/R levels.
I don't use hard SL because my patterns eventually work and I monitor my trades actively when they are open so in case I loose faith in a trade I close it manually. My trades take anywhere from minutes to days to complete.
Well, it looks like myfxbook will not be able to do anything at the moment to address this PAMM adjustments issue I mentioned few posts ago here. Their current methodology kind of smooths out the curve and is great for just a single account but it unfortunately does not show true return for PAMM accounts, I hope they can address this in the future.
Anyway, I'm going to try to do the calculations on my own by filtering the PAMM adjustments out. I'll post my calculations here at the end of each week.
You can make your Balance public, then we able to calculate ourself how much your gain after filter out the deposit.
How come you not put your PAMM account link from broker in your general description ? Only a page introduction of your FX mange service. Can you update the PAMM account broker link so I can see the PAMM profiles ?
1. To say it nicely, I simply don't really care if someone believes me or not, not my problem and I'm definitely not going to advertise my and my investors' balances out here. Anyway we're talking about percentage gains and it really does not matter what the $ or euro or whatever balance is, %%% calculations in the modern world mathematics system are pretty much the same no matter how you look at it. I was going to do the calculations and filter out the adjustments but I'm just too lazy for that and besides I'm having too much fun trading lately.
2. I have honestly no idea what you are asking about - please clarify
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.