Discussion Contest - eddy15

Doing great Eddy, keep it up! Do you trade for a living?

Thank you my friend, I'm trying my best, but some of these guys are trading with huge lots 😄, i'm not use to it. Yes I trade for a living, for 3 years now, that's why I get the twiches every time I put in a trade with a lot size of 30 in the competition 😁, how about you, are you a full time trader?

@eddy15 you trade like a true pro....nice results with low DD.

can you kindly share a little about your trading strategy?

1) TF
2)Indicators
3)Conditions for entry
4)SL
5)Trade Management(lot size, risk %, what will make you close your trade early before TP or SL is hit)

All the best , and keep the good job going......

😄😄😄😄😄

I am a lecturer at an online forex trading university, I teach my students how to trade profitably and use correct money management, the course is over a time period of 6 months, 3 months theory and 3 months practical where I sit with them and trade with them, so I can’t give too much away on my trading strategy, cause it’s the same as I teach them, but I can tell you though that I trade on the 4H, and don’t use a lot of indicators, the 21 and 55 EMA’s and the stochastics (8,3,3) is some of the indicators I use, and I never trade with more than 2% per trade on my live account, and take a constant 10% profit per month. If you want to know more about the university, or want to be a part of it you can email me at [email protected], and thank you, all the best to you as well 😉

eddy15 posted:
Thank you my friend, I'm trying my best, but some of these guys are trading with huge lots 😄, i'm not use to it. Yes I trade for a living, for 3 years now, that's why I get the twiches every time I put in a trade with a lot size of 30 in the competition 😁, how about you, are you a full time trader?

Gee I can imagine, it seems a bid crazy how these guys are trading, but Im sure they trade different with their live accounts.

I have been trading and learning for about 4 years now, have not had great success, also I have never personally met a successful FX trader yet, so end of last year I starting having a lot of doubts about FX trading. After seeing some of the performance of the traders on this site I have been given some hope. Im currentlly testing 2 systems, results are looking good, Im just worried about my R/R, for every $ I make Im risking $3, I risk 10% of my account on every trade. I never use to trade like this, I always obeyed to the 2% risk rule but always ended up having more loses than wins! If I can double one of these systems, then I will go live (again) with my account.

I also lectured for a company last year, but thank goodness they are no longer looking for business in Gauteng, it felt wrong for me to lecture people without me being successful, also I got the feeling that these clients where forced in to purchasing the training package and in doing so promised to make great returns before or after a year.

Anyway, apologies for the lengthy reply, keep up the good trading, you seem to be the best SA trader in this contest.

Wow 10% is a lot to risk per trade, successful traders are hard to find, especially with all the nonsense on the net these days, every second guy is a “trader”, but there are plenty real traders out there that make good consistent money every month. I think people expect too much out of forex, they think they’ll be a millionaire in 3 months or a year, forex is just like any other business, there will be losses and profits during a month, but your profits should be more at the end of the month, and by doing that is simple, you have to create a stress free trading environment, you have to have a target each month, and a realistic one, like 10%, cause that means if I risk 2% per trade, I only need 5 winning trades to reach my target every month, not much at all, it’s a numbers game.

May I ask which company you lectured for? And what TF you trade? And good luck with your system testing, I hope it works out for you.

@eddy15

 please answer. any help is very much appreciated.

thanx

Ok so you trade on a R/R ration of 1:1 then?

Ill email you the names of the companies.

Yeah 10% is huge, esp as I use to lecture on money and risk management to clients. But I must say my results are looking pretty good, the only problem is that when I lose I will lose big and trust me Im very wary of that. If I can get in 10 trades a month and keep a win ratio of 80% ill end up with a positive 6.66% gain for the month. Not wow but is a good gain. If I increase the win ratio to 90% ill take home a 16.66% gain, now that's something to write home about! If my win ratio drops to 70% ill end up with a -6.66 gain!!! So even as things are looking good Im just taking it slow and testing my systems well!

Im testing the 4hr TF and have recently started with the 5min TF as well. The 5min is difficult as it is not possible for be to be glued to my laptop screen every 5 minutes, but the results are looking good for the few trades that I have taken, but it is still early days for both these systems: https://www.myfxbook.com/members/mrmoleman

Thanks for the well wishes!
 

Thanks for your email, I have received it, very interesting stuff, and no I don’t know the companies.

Yes I mainly take a 1:1, sometimes I let it run to 2:1 or even more, but only if I can see a good target. Your results looks good, especially the 5min one, some good gains, but like you mentioned the 5min is much more stressful, so many things that go’s with it, like trading in the right session and keeping an eye on news announcements, on the 4H I don’t have that stress, it fits me and my style of trading.

Yeah took a bit of a knock on the 4H system on Friday afternoon, lost a lekker 9%. Damn Cable with its negative news releases! I do agree with you, less stress on 4H charts!

Sir!

Very impressed with your results, well done on completing a successful competition!

😀 Thank you very much my friend, I think next time I will go all out from the start, trading with huge lots 😇

Hi Eddy,

The performance is looking great, it seems like the frequency of your trading strategy is not aggressive, but it reaps handsome profit.

do you trade manually or using an ea? and I notice the way you cut your losses in just few seconds only ( 2 losses so far, and the trades were lesser than a minute) or you set SL to 5/6 pips to protect the profit?


Thanks!

Hi Jacky, thank you, yes I’m not a aggressive trader, I trade live for 3 years now, and have learned to trade to a realistic target, something like 10% per month, that way I don’t have to be 24/7 in the market, and I can cherry pick my trades.

I trade manually, I don’t like ea’s that much 😁. I usually try to BE as soon as possible, and never trade without a SL, the two trades I’ve lost was on a different strategy, I saw that I had to be more aggressive in the competition, so I tried a different strategy I learned years ago (a scalping strategy), that allows me to BE after 6-10 pips.

Hi Eddy,

I read your previous comments and found out that you provide training also, do you have more details about what's the training about?


Jacky

Hi Jacky,

Yes I’m a lecturer at an online trading university, not sure if I can advertise on this site, but if you email me at [email protected] I will give you the complete learning plan, and all the details.