How to be a real trader - Page 3
Page 3 of 504 FirstFirst 1234 LastLast
Results 21 to 30 of 38

Thread: How to be a real trader

  1. #21
    How about looking at trades of others. A thousand words are painted by A equity sew. Go look for systems that appear to work nicely over a longer interval, with actual cash...

    Currently I'm impressed by this fella. Pull up your charts, have a look in his trades, and take your time. Go and figure. Nobody will let you know what to do.

    http://www.myfxbook.com/members/vict...e/victor/43323

  2. #22
    I exchange only EURUSD on both accounts.

    For simplicity, let's say that each account is 10K. On January 1stI begin trading with an exposure of 4K on each account. On February 1st, one account is up 30 percent and the other is down 25 percent.

    For the account that's down 25 percent (1K) I expose an additional 1K in my 6K reserve in that account. When the drawn down account frees back to 10K, I change my exposure to 4K again and begin. Of course, February could result in another 25% loss on such account, so that I would have to dip into the reserve again on March 1 and also pull on an additional 1K to put me back into a 4K exposure.

    Keep in mind, I'm swinging to the fence on each and every trade in both accounts, so that I will very quickly recover my losses a few winners in a row, so recovering my reserve bank to 6K on the shedding account, and using a high likelihood of breaking .

    On the winning account, say I always hit 30% gains per month.... I want to seriously consider pulling everything off the desk and beginning over again, as the cash cow will only lay golden eggs for such a long time.

    Hope this makes sense.

  3. #23

  4. #24
    Quote Originally Posted by ;
    I exchange only EURUSD on both accounts.

    For simplicity, let's say that each account is 10K....
    T,

    On the account dividing it will make sense - although I feel (referring to my earlier post) it's slightly disconnected.

    What I mean by that's the following:

    the info you are providing from the thread and the name'the best way to be a true trader' does not actually link to anything but the possibility of a'type' of cash management translated to trading a particular ccy pair (EU) with two distinct egies.

    I'm unsure as to if you provide advice in terms of MM (dividing capital and handling it through two accounts and two egies - in which you could use one acc. And split it into two sub-accounts....something I've done), or if this may also cause advice provided regarding a particular egy employed by your good self - that would change an otherwise unsuccessful trader into a'real' trader.

    Forgive me for saying the following: many out there and here say that there are a thousand ways to skin a. I personally disagree....there are just a few best ways that have the same underlying principles.

    Is this thread to support this by pointing others to the path of how to best manage capital? If so, I then see the connection - otherwise, I believe it is hard to discern.

    regards,

  5. #25
    dt,

    Concur. Not many pass through the gates of success.

    I don't give the work away at no cost, although I do share my nuggets from generosity from time to time.... All in the faith that somebody will contribute something that I have not thought of and receive my mind sparked.

    As for the management of this ribbon: the point I was trying to make was, you've got to be able to survive and pull profits in and trending markets. That is how a real trader lasts.

    And I've given a frame for doing so, though I do not hand out the hen that lays golden eggs (the systems themselves)


    And, keep in mind, my fish could stop laying eggs at any time. Any trader that believes that they can't shed is jump to get the chopping block.

  6. #26
    Quote Originally Posted by ;
    Greets

    Nothing new here. Bottom line: Just how does one survive (no profit) in a year of the two sideways and trending markets? You can not see what's about to happen before it happens.

    The answer is: Run 2 different egies on two different accounts... one that does well in trending, and also yet one that does well in sideways.
    Hey - a reasonable question, but may I make a respectful observation that there seems to be the underlying assumption in your post - that being you are seeking chances about the trading of a single instrument to find profit from its motion one way or the other. (please correct me if I am wrong, but I state that since you mention that the familar context of trend vs sideways etc.)

    So why not use your question as an chance to look in other'dimensions' to trading, like exploring the possibilities of harnessing the commonalities and differences between different tools, be they Foreign Exchange associated or otherwise. Here I am speaking about wider market knowledge, the understanding of that engages in what markets, why and when, and what the probable results are in terms of price, timing, volume, and so on, and what chances this might present to the retail trader seeking to make a reasonable living from the markets. . This is very different to the more common two-dimensional approach that dominates these forums - that being, how do I trade instrument XYZ in a trending vs sideways market?

    I am not suggesting you fall to the two dimensional egory, but believed it may be a point worth creating yet - I am a (humble) hedginghog, after all. Cheers

  7. #27
    Thank you hedginghog!

    I am a quant. That's pretty limiting, but it's also why I say that I am an inch wide and a mile deep. My inch is simply measuring momentum at a chart, and possibly betting that it will last, or even reverse.

    The complexities of correlations, underpinning provide demand, order flows, stochastic calculus regarding bond expirations, indexes, funds, commodoties, and also the plogical decision procedures that inspire the players to make conclusions are....

    Too complicated for my little brain.

    So, I stay with what I can do : be the best quant I can.

  8. #28
    Quote Originally Posted by ;
    dt,

    Concur....
    T,

    Good answer - I was not attempting to entice you to make those revelations....pardon me sounded like it. And, yes, in this game, you have to be on your feet constantly - otherwise the market may claw back those golden eggs.

    regards,

  9. #29
    Quote Originally Posted by ;
    Thank you hedginghog!

    I'm a quant. That's fairly limiting, but it's also why I say that I'm an inch wide and a mile deep. My inch is simply measuring momentum at a chart, and either betting it will continue, or reverse.

    The complexities of correlations, supply need, order flows, stochastic calculus regarding bond expirations, indexes, funds, commodoties, and the plogical decision processes that inspire the players to make decisions are....

    Too complex for my little brain.

    Therefore I stick with what I.. .
    Such humility is rare in such forums, and no doubt this serves you well in the markets. If you're a survivor in this company then chances are you don't have a little brain! Happy trading.

  10. #30
    I think that the best transformation that's happened to me is to remove expectation that the market will be obedient to my own trades once they are placed.

    Contrarily, a stop loss and take profit amount are only ONE possible ending game.... Most of the time that the trades are closed early because a shift in momentum is discovered following the trade opened.


    Ah, I am sorry everyone. This post is off topic too... I am A.D.D. I suppose.


    The best thing I ever did was stop reading the crap science of Gartley Crabs, Fibo Retracements, Pivot Points, etc.. For every pattern that finishes like it's supposed to there are an equal number that fail.

    That's why the Forex publications in Barnes in Noble are crap. If there were a blueprint for winning in Forex, everyone would do it.


    What exactly does that leave us? One thing called SHORT TERM MOMENTUM. I really don't care about much except where the head of the snake is moving. And just attempt and take short term gains out of a long-term trend to:

    1) Compound small winnings (more profitable than buy and hold)
    2) Improve my odds of avoiding getting caught (being in a trade during a trend reversal)


    Best wishes everyone!

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners more information