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lkwong

Biedrs kopš May 10, 2012  71 ieraksti LK Wong (lkwong) Jun 09 2012 at 09:24
For open consideration, critiques and comments :

https://www.myfxbook.com/members/lkwong/wlk-balanced-portfolio/303842

The YELLOW line should always be above the RED line. It means you've cut your losses, and let your winners run.
DDmaster

Biedrs kopš Jan 04, 2010  43 ieraksti DDmaster (DDmaster) Jun 09 2012 at 11:00

   lkwong posted:
   For open consideration, critiques and comments :

https://www.myfxbook.com/members/lkwong/wlk-balanced-portfolio/303842


missing allot of data , to begin critiquing ... all the trading history is privet , and im only seeing 21 trading days for 6 months ....( your missing about 100 days...)

that's like asking what do you think of the 16th chapel and only showing the viewer 1 square centi meter of it.

Our greatest weakness lies in giving up, the certain way to succeed is always to try just one more time.
lkwong

Biedrs kopš May 10, 2012  71 ieraksti LK Wong (lkwong) Jun 09 2012 at 16:49
Oh sorry bout that. Have set history and lot sizes to public.

I guess its not entire apparent that I hold trades for days, sometimes weeks. You can see that under duration. Its also probably not common knowledge that myfxbook doesn't record data for days which I don't trade, even when there are trades open. And yes, I'm also out of the market sometimes, when the markets not favourable.

-LK

The YELLOW line should always be above the RED line. It means you've cut your losses, and let your winners run.
Raiden

Biedrs kopš Nov 27, 2010  244 ieraksti Raiden Jun 10 2012 at 22:34

   lkwong posted:
   For open consideration, critiques and comments :

https://www.myfxbook.com/members/lkwong/wlk-balanced-portfolio/303842


Hello lkwong,

First off, very nice curve.

I also note that for the total lotsize utilized for the multiple position trades, and the drawdown of 45.97% on May 17th, you must be using a leverage more than the indicated 1:100. I am guessing 1:400?

For the opening of the 23rd April trades, the total lotsize opened was 52 lots, if leverage was 1:100, margin utilised is approx. $51,000. Balance before opening these trades was $42,955.00.
That makes a margin utilised of $51,000/$42,955 = 118.7 %

Is this possible for a 1:100 leverage account? If so, you're really working it to the hilt, eh? ;)


Consistency above all.
lkwong

Biedrs kopš May 10, 2012  71 ieraksti LK Wong (lkwong) Jun 11 2012 at 03:12
Hi Raiden,

Thanks for the observation. Its very strange that its listed as 45.97% on the drawdown tab. I've never actually clicked it until I saw your posting. If yo look at my trading history and did the math manually, Those numbers really don't add up. I'll have to look into this further.

As for the leverage calculation, please correct me if I'm wrong.

Used/Real leverage = Debt : Equity
                           = Lots * LotSize * AveragePipValye * PairsTraded : Account Equity
                           = 4 * 10,000 * 1.25 * 13 / 42955
                           = 15.13



The max leverage stated on the link is correct at 1:100. After muddling through all the numbers for a while, trying to figure it out, would it have more sense if I mentioned that the account is a MINI ACCOUNT ? Would the numbers have been more correct ?


Thanks for the heads up.

-LK

The YELLOW line should always be above the RED line. It means you've cut your losses, and let your winners run.
lkwong

Biedrs kopš May 10, 2012  71 ieraksti LK Wong (lkwong) Jun 11 2012 at 03:22
Seems like theres already a thread going on about this, sort of...

https://www.myfxbook.com/community/general/how-do-you-calculate-drawdown/17011,1


The YELLOW line should always be above the RED line. It means you've cut your losses, and let your winners run.
DDmaster

Biedrs kopš Jan 04, 2010  43 ieraksti DDmaster (DDmaster) Jun 11 2012 at 09:14

   lkwong posted:
   Hi Raiden,

Thanks for the observation. Its very strange that its listed as 45.97% on the drawdown tab. I've never actually clicked it until I saw your posting. If yo look at my trading history and did the math manually, Those numbers really don't add up. I'll have to look into this further.

As for the leverage calculation, please correct me if I'm wrong.

Used/Real leverage = Debt : Equity
                           = Lots * LotSize * AveragePipValye * PairsTraded : Account Equity
                           = 4 * 10,000 * 1.25 * 13 / 42955
                           = 15.13



The max leverage stated on the link is correct at 1:100. After muddling through all the numbers for a while, trying to figure it out, would it have more sense if I mentioned that the account is a MINI ACCOUNT ? Would the numbers have been more correct ?


Thanks for the heads up.

-LK


ill start off by correcting your lot size calculation 1 standard Lot = 100,000$ , however i looked in to your broker and it seems that they disagree with industry standards and made their own funky system for what they call mini accounts with mini lots where apparently 1 lot = 10,000$ , all very shady...

any way , don't know what you think your calculating there , he was talking about your margin requirements to keep the trades open at the same time .

margin requirement= lots*lot size*pairs traded/100
                              = 4*100,000*13/100
                              = 52,000$

Raiden would have been right you cant hold 52,000$ margin on a 42955$ account in normal conditions but due to your strange broker where a standard lot suddenly is 10,000 instead of 100,000:

margin requirement (IBFX) = lots*lot size(mini lots)*pairs traded/100
                                         = 4*10,000*13/100
                                         = 5,200$
now suddenly you can hold it...


ill have a look at your statement later been very busy .

Our greatest weakness lies in giving up, the certain way to succeed is always to try just one more time.
lkwong

Biedrs kopš May 10, 2012  71 ieraksti LK Wong (lkwong) Jun 11 2012 at 09:38
Thanks Raiden and DDMaster for taking the time to look at it. Really appreciate it.

IBFX has both standard lot accounts (1lot = 100,000), and mini accounts (1lot = 10,000). My account is a mini account, so on my statements when you see 1lot its actually a 10,000 lot (or 0.1 standard lots). Thats probably where the confusion all started. I think also by that virtue, my drawdown calculations on my link aren't really accurate.

*sigh*


The YELLOW line should always be above the RED line. It means you've cut your losses, and let your winners run.
Raiden

Biedrs kopš Nov 27, 2010  244 ieraksti Raiden Jun 11 2012 at 09:43
While I wouldn't use 'Debt' to describe the total value of the open positions, your leverage calculation is correct.

And yes, I do see now that it is a mini account, where 1 lot is 10,000 units of base currency. I was calculating based on 100,000 units. (I should have inferred by the P&L/pips)

On this related note, I'm not entirely sure of the nomenclature of mini accounts. It's evident from here that lotsize is multiplied by 10, i.e. 10,000 units = 1 'lot'. Is there anything else in the statement that differs from a standard account?

Regarding myfxbook's calculation of drawdown, to the best of my knowledge until official sources clarify, in the past, calculations would be based off the 5pm NYT close snapshot.

After the Rexfo pricing became available, it appears now to be calculated on every update. (which makes it more relevant and accurate)
This is a derivative calculation based off the open positions' currency pair, lotsize, and Rexfo's pricing against the account equity. I believe this becomes a problem with mini, micro, and nano accounts, where the non-standard nomenclature of what a lotsize is basically multiplies the value of the open positions by 10, 100, 1000 times. Unless the account equity is similarly multiplied by the same factor (by the broker, as looks to be the case for some cent accounts), the drawdown gets amplified.

How to resolve this? myfxbook would need to have a database of account types for respective brokers, and note their specific idiosyncrasies. I suspect this is already the case with many brokers screwing around naming their currency pairs with a prefix and suffix like EURUSDm, EURUSDct, xEURUSD, etc... It'd just be more work on their part.

Consistency above all.
Raiden

Biedrs kopš Nov 27, 2010  244 ieraksti Raiden Jun 11 2012 at 09:51 (labots Jun 11 2012 at 09:56 )
All that said, Excellent Performance! You are a swing trade master! I would love to learn from you.

Edit: Or I suppose you could just put it on a PAMM and I'll throw some money on it.

Consistency above all.
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