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What are good stats in Forex

forex_trader_[1974216]
Oct 05 2020 at 19:25
3 ieraksti
I wanted to create a thread that asked the following questions...

What are good stats in forex?

Are there stat values that show a system still has problems even if it is profitable?

Thank you for your time
AliaDare
Oct 06 2020 at 00:50
788 ieraksti
If you want to start forex trading, you need a good broker first. Do the demo practice under the broker. You have to learn a lot. You have to practice the demo for at least 6 months. You need to learn trading online or from a mentor while practicing the demo. And when you see that you are making a self-sufficient profit in demo trading, then you will join real trading. Always try to trade according to the plan with patience.
forex_trader_[1974216]
Oct 06 2020 at 06:39
3 ieraksti
thank you for the reply um AliaDare , but that did not answer the question really, aside from account balance what stat values do you use to judge a system and then why, are there ways to say yeah the system is profitable but these two or three stats suck so work on the system more.. and here is why these are important... if the overall stats of a system is subjective, and its really just two factors the price and the balance you end with, then whats the point of this site?
Lorencecolling
Oct 19 2020 at 04:16
49 ieraksti
A good thread indeed. I would keep an eye on it to improve my knowledge.
UweMoench
Oct 19 2020 at 06:26
751 ieraksti
As long as you are making consistent profit, nothing wrong in your trading system. What works for you may not work for and vice versa. Just try to discipline in your trading. And keep a realistic profit goals.
forex_trader_[1974216]
Oct 19 2020 at 14:22
3 ieraksti
Thank you for your reply, true indeed, i have always believed in developing my own system that fits my personality. I dont want my chart to look like an EKG with to many overlays that was first. Second was that i wanted to have a daily routine. so i went with using the 15min and Daily as my two main... with trades being opened on and closed off of the 15min.. with daily to get a gist on where the mass of men are going... realistic profits have been a little tough... part of me says trade until i am done with the day win or lose, like a normal work day, other parts of me say trade to a specific profit or loss point and then walk away... so trade until i lose 2% or win 2% something like that.. the toughest part for me right now is keeping to the trade sizes i setup in the rules i made... i overtrade on that part.... so if my system says trade 880 units i might do that but later in the day do something like 8800 units just for the heck of it... and that is where i lose the most money, stat wise i have been looking at the %wins and profit factor as well as the balance of course.. i figure if i keep percent wins over 60% i might be ok.. but if i keep overtrading on the size then even at 60% that 4 or 5 trades will wipe out what i made the past 4 days in a heart beat
AliaDare
Oct 19 2020 at 22:00
788 ieraksti
If you manage money management and risk rewards properly, you will be able to trade healthy. And one of the most important things is to control your emotions.
Bladiminmunro
Oct 20 2020 at 07:01
59 ieraksti
A good thread indeed. I would keep an eye on it to improve my knowledge.
grumpychef
Oct 20 2020 at 07:21
2 ieraksti
Dude, it's all about your risk management. If your Risk:Reward ratio is too heavy on the Risk side, then you will outdo your success rate's gains very easily (as you have observed). Read van Tharpe. Ideally you want an R:R of 1:2. This means you could lose 50% of the time and break even. Also note this means you have to have strict Stop Loss analysis and calculate your position according to your Stop Loss and your overall Risk, per trade, of your capital (aka The 2% Rule). Do not, ever, calculate your position size based on what you want to gain.

You need a structured and disciplined calculation system. In doing so you will also be able to get a sense of what stats work for your trading style.
vontogr (togr)
Oct 20 2020 at 07:28
4862 ieraksti
Pax_FX posted:
I wanted to create a thread that asked the following questions...

What are good stats in forex?

Are there stat values that show a system still has problems even if it is profitable?

Thank you for your time

Good stats are low DD <20%
Stable monthly profit
And strategy which is consistent for long term and doesn't stop working after couple of weeks/months
SaltaLargo
Oct 20 2020 at 09:36
11 ieraksti
Risk reward is important but do not place too much importance on it. You also need to identify the right trades so that your win rate is high enough to still make profit
Mauk
Oct 22 2020 at 06:30
78 ieraksti
Learn to competently develop and create your own strategy in order to receive not only profit from trading, but also moral satisfaction.
Suarez
Oct 22 2020 at 07:02
55 ieraksti
Every trader is different and hence everyone has different expectations from forex. So what are good stats for you, comes from you, yourself.
marco_mmbiz
Oct 22 2020 at 08:22
370 ieraksti
Pax_FX posted:
I wanted to create a thread that asked the following questions...

What are good stats in forex?

Are there stat values that show a system still has problems even if it is profitable?

Thank you for your time

Answers:
- track record is verified and the connected broker is already known and has a good regulation (FINMA; ESMA/CYSEC; NFA; FCA; BAFIN; IFSC, or any good regulator in your area), so you can be sure the results shown on myfxbook are 100% real
- monthly profits are between 0.50% and 9.50% (some months with more than 10% are still okay) during a period of more than 2 years; this is showing you a consistent and safe long-term trading style
- the overall drawdown is lower than 50%; some spikes are okay, but it should not always be more than 20% per day traded (1-10% is still okay)
- a maximum of 2 or 3 assets are being used at the same time; if you see a system trading with a huge amount of different trades at once it's most probably a very risky system
- more than 50% of all trades are profitable and the profits are always higher than the losses (no matter if money or pips); this shows you a profitable money management
- the lot-size per trade seen on the history is never too much; always remember: 1lot per 100k account size (at a max. account leverage of more than 1:100) is okay
- pips are always positive, not negative; negative pips but still being in huge profits might indicate a risky martingale trading style
- the 'gain' is always around (or even lower than) the 'absolute gain'; only the 'absolute gain' shows you the real profits (without all the deposits)
- the myfxbook-system is being updated minimum 1 time per day (it depends on their server-load, sometimes it takes even 2 days)
Ezereombre
Oct 26 2020 at 06:50
27 ieraksti
You must know how and when to use stop-losses so as to make the most of your trades.
Rosstaylorr
Nov 05 2020 at 11:00
25 ieraksti
I know that the risk to reward ratio is very important. But your decisions should not be based on it solely. Try to stick to your trading strategy as much as you can.
Mitchelsantner
Nov 06 2020 at 11:35
34 ieraksti
RR just needs to be a part of your decision-making. There are other things that play a major role.
Garrychris554
Nov 27 2020 at 05:30
27 ieraksti
As all people are different, so are their expectations from forex trading. How you see forex is not how others also see it.
Femilas
Nov 28 2020 at 10:59
30 ieraksti
I think a good statistic is when your percentage starts to rise.
DoraWalletInvest
Nov 30 2020 at 09:03
123 ieraksti
grumpychef posted:
Dude, it's all about your risk management. If your Risk:Reward ratio is too heavy on the Risk side, then you will outdo your success rate's gains very easily (as you have observed). Read van Tharpe. Ideally you want an R:R of 1:2. This means you could lose 50% of the time and break even. Also note this means you have to have strict Stop Loss analysis and calculate your position according to your Stop Loss and your overall Risk, per trade, of your capital (aka The 2% Rule). Do not, ever, calculate your position size based on what you want to gain.

You need a structured and disciplined calculation system. In doing so you will also be able to get a sense of what stats work for your trading style.

I second this, incuding the 'read van Tharpe' part - his book Trade your Way to Financial Freedom offers good advice. He also writes about testing your system, there are methods to quantify the reliability of your trading method, especially your entry.
Other than this the important things have already been mentioned before my post but I would like to add, as you yourself Pax_Fx have mentioned, being disciplined and sticking to your plans is a very important factor, failing to do so can render even the best strategies totally useless.
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