UpInSmoke diskuse

I like you for being honest.

ahuruglica posted:
1,418,756,134,268,440,064.00% gain in one month :)

Next week it will be history

Ahuruglica, there are many situations as you describe, and it's good to be a critical thinker. For example there was one well known trader that reportedly lost $340k in one trade, on one day. Was forced out of the trade by his broker. Many criticized him, for his approach. (He's since won many trading championships.)

In the early stages of an account though, that same style could be genius. If the account blows when it's small then you can easily restart it. There are methods to slowly reduce risk and modify the style, in proportion to account growth.

Even if you're right, and an account blows up, after making it big. Is that worse than never having made it at all?

Taking high risk for a short time has different odds ,than taking high risk over a long period. Statistically the risk in a strategy can change the longer you use it. Example, if you flip a coin 1 time, you stand a 50% chance of getting heads. If you flip it 50 times the odd rise to more than a Trillion to one.
 The high growth rate, in this case seems respectable from a strategic and risk perspective.

topaz790 posted:
Hi UpInSmoke,

I read all the comments here and your responses. Sorry I do not want to ask you the same questions like - is it EA or manual ?. managed accounts ?. etc etc.

There is no doubt you are doing something extraordinary where no one does it. I want to learn by studying every trail you leave behind.

Thanks in advance,

Satya
[email protected]

Just check the link I posted to my G+ page. All the information is available on there.

And yes the results are good but what everybody should remember is where this started. I started with $38.88 so no real risk is there? I mean losing $38 is not the end of the world. So day one's trading was almost like as if I had nothing to lose and my risk parameters where set very high. On day two I already started to scale back and each coming day I will scale back some more.

What I'm trying to say is, do not let the results as they stand now get into your head. Understand how it was created i.e. high risk,and that that risk will be scaled down on each day and thus the results as well.

MoneyCode posted:

ahuruglica posted:
1,418,756,134,268,440,064.00% gain in one month :)

Next week it will be history

Ahuruglica, there are many situations as you describe, and it's good to be a critical thinker. For example there was one well known trader that reportedly lost $340k in one trade, on one day. Was forced out of the trade by his broker. Many criticized him, for his approach. (He's since won many trading championships.)

In the early stages of an account though, that same style could be genius. If the account blows when it's small then you can easily restart it. There are methods to slowly reduce risk and modify the style, in proportion to account growth.

Even if you're right, and an account blows up, after making it big. Is that worse than never having made it at all?

Taking high risk for a short time has different odds ,than taking high risk over a long period. Statistically the risk in a strategy can change the longer you use it. Example, if you flip a coin 1 time, you stand a 50% chance of getting heads. If you flip it 50 times the odd rise to more than a Trillion to one.
 The high growth rate, in this case seems respectable from a strategic and risk perspective.

Completely agree with this. I took many risks, which can be seen from the drawdown on day one, as the amount at risk was small. You can however see that I have already started scaling down. You will also see me starting to split the account at a later stage.

By splitting I mean taking say half the balance out and putting it into a new account. I then load my trade copier and set it to execute the same trades but at half the size so the risk on the new account is then cut in half. As the balance grows I keep on doing this i.e. splitting into new accounts. Each new account will run at a lower risk.

So in say a month or two from now I will have a relatively small main account with say 5 other 'sub' accounts linked by the trade copier. The size execution on each account is less than the one before it. So the first 'sub' account will execute at say 70% of the main accounts size, the second at 50%, the third at 30% etc..

I will post more info on this setup later.

What it boils down to is that if you blow your main account then it will result in a 20% loss over all accounts combined.

Smart approach i look forward to your results, inspiring to say the least!😱

It's better to be a critical thinker than a sheep following the herd.

Big multi billion monthly gain is tha same as 1,500% daily which can not be sustained. But ti scale down the risk is a smart idea. As o said I started to like you because you said you don't manage other people accounts because it is a high risk strategy.


I wish for the best :)

And pop she goes.... woke up this morning to a very nice surprise....

Account equity dropped from over 1,200 down to under 10. Spend most of the night trading and was up close to 70%. Placed some pending trades, setup the trade manager to manage trades and to hedge those it could not close should the Aussie drop.

Woke up this morning and nothing happened, trade manager never kicked in. My own fault. Switched accounts before I went to bed to check my other account and switched back again but never enabled the the EA's again.

Enabled all the EA's now so figures should update any minute now.

So who still wants me to manage their account and who still want to copy my trades 😁 There is a reason for calling the account Up In Smoke.

Going to play golf, will be back later to sort out this mess and see whether I can do anything with whats left and or start over again.

70%, nice.
A Set up error, has no real bearing of merit of your trading plan. Think of it as a 3 days of work wasted, rather than a 4 digit loss.
I'm sure you could work up an alert code to prevent a similar issue in the future.
Never getting knocked down is not the sign of greatness. The sign of greatness is always getting back up.