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

goodboyfx
Feb 13 2016 at 09:54
posts 56
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. All this was achieved while me working a 9-5 dayjob (a decent job). I want to ask advice from professional traders, who have had success? what shouild i be doing NEXT? i have over 7 years experience it took time to be where i am. BUT now the question is what should i be doing next?

I have passions for FX markets. I feel i should be working for hedge funds, making myself n others big buck. Can anyone of you successful traders, share your experience? what road did you take? how was the experience, was it worth it leaving your career? to this industry where performance is everything. If you mess up a month or two, do they let you go?

Disclaimer: this is NOT as an advertisement. I am just seeking some advice after becoming successful @ trading. Thanks.
Get Rich & End World Poverty
Trendline Trader
Soyo24
Feb 14 2016 at 07:33
posts 14
As long as you are not risking more then 5% per trade you should continue doing what your doing, in my opinion.
Trendline Trader
Soyo24
Feb 14 2016 at 07:33
posts 14
Also maybe think about becoming a myfxbook signal provider and make some extra money.
TalkNowPlease
Feb 14 2016 at 07:35
posts 33
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. All this was achieved while me working a 9-5 dayjob (a decent job). I want to ask advice from professional traders, who have had success? what shouild i be doing NEXT? i have over 7 years experience it took time to be where i am. BUT now the question is what should i be doing next?

I have passions for FX markets. I feel i should be working for hedge funds, making myself n others big buck. Can anyone of you successful traders, share your experience? what road did you take? how was the experience, was it worth it leaving your career? to this industry where performance is everything. If you mess up a month or two, do they let you go?

Disclaimer: this is NOT as an advertisement. I am just seeking some advice after becoming successful @ trading. Thanks.

 This website is built for advertising, and clearly you are doing it. I have seen your thread over at ff.com and although your profits are high, your drawdown is WAY to high! That clearly demonstrates your lack of self control when you are in red, and no serious investor will invest. You may be able to attract those guys who only have 500 usd, but anything more than that will ignore you.
DoubleTrap (ForexSeeker)
Feb 14 2016 at 07:47
posts 814
You should continue working, while make your manual trading strategy into an EA.
A moment of glory can not guarantee a forever victory, there are many factor can make you down to floor again, as:
i) You making too much money, broker will give you higher spread or technical problem to pull you down.
ii) Your strategy not working well in this season of trending pattern.
iii) You got greedy and put big lot size and result big loss.

Continue with your career, test your strategy, make it to EA, back test it Yearly on all the history data.
There are 2 kind of strategy :
i) Long time win and never blow account. (Big capital)
ii) Short time win with High ROI , even blow account you can cover up. ( Small capital )

So I assumed you are using the Short Time Win Strategy.
Information is Gold when come to organised.
goodboyfx
Feb 14 2016 at 10:00
posts 56
ForexSeeker posted:
You should continue working, while make your manual trading strategy into an EA.
A moment of glory can not guarantee a forever victory, there are many factor can make you down to floor again, as:

So I assumed you are using the Short Time Win Strategy.

Well my strategy requires me to check global markets (not just forex) before i enter forex trades. So EA's is not going to work. plus as market changes you need tweaking constantly. I rather manual trader attack markets from key levels.

I can agree with your on toning down risk and think of long term goal. Which is my plan. I have 10 different risk models waiting to be implemented with lowest being able to sustain 1000 pip DD. My main challenge or opportunity is when there is market volatility, i attack markets head on and manage well. thanks for constructive input 😄 lot of talent in malaysia/indonesia i notice.
Get Rich & End World Poverty
TalkNowPlease
Feb 14 2016 at 15:16
posts 33
goodboyfx posted:
ForexSeeker posted:
You should continue working, while make your manual trading strategy into an EA.
A moment of glory can not guarantee a forever victory, there are many factor can make you down to floor again, as:

So I assumed you are using the Short Time Win Strategy.

Well my strategy requires me to check global markets (not just forex) before i enter forex trades. So EA's is not going to work. plus as market changes you need tweaking constantly. I rather manual trader attack markets from key levels.

I can agree with your on toning down risk and think of long term goal. Which is my plan. I have 10 different risk models waiting to be implemented with lowest being able to sustain 1000 pip DD. My main challenge or opportunity is when there is market volatility, i attack markets head on and manage well. thanks for constructive input 😄 lot of talent in malaysia/indonesia i notice.

 You manage trading 'heading on' when the market is 'volatile' you say? Well I wouldn't call 85% drawdown managing anything.



 Why would anyone on God's green earth want to follow you, when you allow your account to go in red well over 80%?
 Why would anyone follow you when you use grid trading, which is evident by the way you position your self at 'key levels'
 Why would anyone follow you when you are willing to risk 1000 pips, but as you fall deeper in red you increase your exposure to the market.

Fichiers joints:

Trendline Trader
Soyo24
Feb 15 2016 at 07:23
posts 14
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. All this was achieved while me working a 9-5 dayjob (a decent job). I want to ask advice from professional traders, who have had success? what shouild i be doing NEXT? i have over 7 years experience it took time to be where i am. BUT now the question is what should i be doing next?

I have passions for FX markets. I feel i should be working for hedge funds, making myself n others big buck. Can anyone of you successful traders, share your experience? what road did you take? how was the experience, was it worth it leaving your career? to this industry where performance is everything. If you mess up a month or two, do they let you go?


TalkNowPlease is right your drawdown is way too much for investors, now you know what you should work on, 😄

Disclaimer: this is NOT as an advertisement. I am just seeking some advice after becoming successful @ trading. Thanks.
goodboyfx
Feb 15 2016 at 07:36
posts 56
This guy is harassing me out of pure jealousy. Can you look at the subject of the thread before submitting content? You see me selling anything at myfxbook ? Commercial advertising is prohibited by Myfxbook and i didnot need you to advise my contents from other forums, where I AM offering a service. So you are clearly violating myfxbook by spamming my contents when i didnot even ask you to. . The Operators will think i paid you to post this or we have some collaboration of some kind. Can you just stop? read the thread topic again and feel free to comment on the 'subject' of the thread. Thanks.

I already cleared DD issue to you in other forum and i dont to advertise that forum, its prohibited to. I'll jus copy/paste the response so its clear. I have other things to worry about this guy whose stalking me...

Response to DD issue (copy/paste)
The way DD works in MT4 is if you have a small account say you have a $1000 account if your down $884 on your account. Ok you have 84% DD great? right labelled a bad trader ...too risky. Say this same trader feels hmm this market needs more capital to sustain injects $3000 on that same mt4 account. Carries on trading for next 12 months makes a million with say 20% DD. What % DD will T/E or MT4 show on stats? that same 84% which occurred in beginning. That's what happen with me.

Shoo...
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my pants are on fire (chiecghethunam)
Feb 16 2016 at 06:41
posts 60
goodboyfx posted:
This guy is harassing me out of pure jealousy.

The way DD works in MT4 is if you have a small account say you have a $1000 account if your down $884 on your account. Ok you have 84% DD great? right labelled a bad trader ...too risky. Say this same trader feels hmm this market needs more capital to sustain injects $3000 on that same mt4 account. Carries on trading for next 12 months makes a million with say 20% DD. What % DD will T/E or MT4 show on stats? that same 84% which occurred in beginning. That's what happen with me.

7 years of experience and you are still that stupid?

And dont embarrassing yourself too much, nobody is jealous of your 87.28% DD
goodboyfx
Feb 16 2016 at 09:43
posts 56
chiecghethunam, nice performance. I'll ignore the insult. best of luck.
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goodboyfx
Feb 19 2016 at 19:11
posts 56
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
posts 18
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
posts 10
hows your risk management, & demo or real acc
5trategy
Feb 21 2016 at 07:40
posts 10
sorry didnt see the previous page
trade2good
Feb 21 2016 at 07:51
posts 26
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
posts 56
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
posts 9
hibikidan333
Feb 21 2016 at 09:54
posts 9
@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
posts 56
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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