togr posted: so is there some level when you switch from high risk to low risk trading?
I plan to graduate risk across my accounts in the following method: Account 1: $1000 Account 2: $2000 Account 3: $3000 Account 4: $4000 Account 5: $5000 Account 6: $6000 Account 7: $7000 Account 8: $8000 Account 9: $9000 Account 10: $10,000 Account 11: $11,000 Account 12: $12,000 Account 13: $13,000 Account 14: $14,000 Account 15: $15,000 Account 16: $16,000 Account 17: $17,000 Account 18: $18,000 Account 19: $19,000
Risk setting of EAs would remain consistent across accounts, ie. starting Lots 0.01, strategy parameters, etc.
Risk can also be mitigated by scaled implementation of new systems, where a graduated process is followed prior to full implementation of any system across all accounts. I did not follow this process and my greed and haste cost me dearly.
1. Rigorously Backtest new EA on Historical Data until satisfied of performance; 2. Complete successful Forward testing on Demo; 3. After x period, commence EA on Account 1; 4. After x period, commence EA on Account 2; 5. After x period, commence EA on Account 3; ... 21. After x period, commence EA on Account 19;
where 'x period' is an arbitrary measure of time, such as a week or month.
'Success in trading requires calculated risk, measured gains, and tempered emotions.'
tradeFX4btc posted: Since we have both been rekt from flash crashes, what are you doing differently?
Oh, and: 7) Diversification is BAD; just because a system can work on 28 pairs, does not mean it should be used on 28 pairs. Sure it can multiply results and give some guarantee to returns, but it also adds exposure to every market event, and movements can be multiplied across other pairs of the same currency. It only took two currencies for me to gain 800% and 1000%: it is better to focus on a few currencies and limit your exposure to risk events.
'The most successful investors don't diversify. Rather, they FOCUS (Follow-One-Course-Until-Successful) and specialize. They get to know the investment category they invest in and how the business works better than anyone else.' (Robert Kiyosaki, American businessman and author)
“Wide diversification is only required when investors do not understand what they are doing.” (Warren Buffett, American business magnate, investor, speaker and philanthropist)
Great advice. I enjoy seeing the quotes of successful businessmen in relation to what you have learned.
I started trading a year ago and have had some success recently. I started tracking my trading about two months ago. Only manual trades with some algos in development. This account started on 10k and I want to get it to 20k safely (risk managed).
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Páka vytvára ďalšie riziká a straty. Než sa rozhodnete obchodovať s devízami, dôkladne zvážte svoje investičné ciele, úroveň skúseností a toleranciu voči riziku.
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