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TWICE IN AS MANY WEEKS SMALL TRADERS ARE MOCKED BY THE BANKS

SaltyWaters
Oct 30 2016 at 16:34
247 Posts
FxMasterGuru posted:
I am sure that SaltyWaters' 47% is not totally random. Also, potential DD - before going big - is another issue.

Entries are totally random, as soon as I turn the EA on all positions are taken upon the first tick in each pair, be either a sell or a buy. The first tick decides direction. DD can be adjusted with lot size. So far so good.
SaltyWaters
Oct 30 2016 at 16:42
247 Posts
theHand posted:
Well there we go, explicit evidence. Thanks SaltyWaters.

Obviously you want to get your entries as good as possible, but they are maybe 1% of the process. Eye it out, trade the way you think it's going to go, but then start the management. Don't lose sleep over being right. Even top fund managers are right about 30% of the time.

I once counted how many times we go through a price level on a pair, 11 on average.

Any trade you open likely will go at least 11 times into profit before you move away from the price range. That's more than enough time to manage the thing.

Once you do this, you start thinking about the things that make fx work. When to go big, when to reduce, what is margin use like, how good is this profit ? What's the trend speed like ? Does the thing pose a risk to my portfolio ? And so on, there's a thousand questions after which way is it going to go...

In this case entries are not that important but the exit is crucial. The EA manages the trades, exits when in profit and repeats the steps each time. Is a non stop trading session for life because is always on. So far this is an experiment only.
theHand
Oct 31 2016 at 00:06
365 Posts
@FxMasterGuru

Some can't easy switch accounts, myself included and you can't set the date, so those stats are wrong, the growth and Balance doesn't even appear to have anything to do with each other, That account is up 600% not down 90%.
theHand
Oct 31 2016 at 00:41
365 Posts
@SaltyWaters

It just confirms my view really. The entries just doesn't matter, so it's no use worrying about them. Which is what most people spend years and years doing and then quit. They never get to move onto the stuff that makes fx work.

I made the same mistake. Waisted 4 or 5 years trying to predict fx, before I realised you don't have to.
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