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Is not coincidence, I quote your image because I think that it was lacking something, ... just how one could interpret for himself these worth? . This 10% dd might be insignificant, where, you realize that 10% dd is working for you for others. And so, I came up with the idea of putting near the image that the private monthly % ... meaning that for some 10% might be too much or 30% could be approved...Quote:
Originally Posted by ;
allows please you https://forexintuitive.com/attachments/1526425582.jpgQuote:
Originally Posted by ;
here is a re-posting of this screenshots, plus one:
https://forexintuitive.com/attachmen...7945154076.jpg
https://forexintuitive.com/attachmen...1899199205.jpg
https://forexintuitive.com/attachments/1526425584.jpg
of course the accounts I have with lower or higher risk multiplier correspond to these amounts also, in general.
why I advoe the -10? is simple as it's an ideal starting point when you thinking to build a track record. It is low enough to be viewed upon favorable.
For instance, here is AxiSelects app description (pdf):
https://drive.google.com/file/d/0B2w...5WUhuektn/view
while it may not be the interest of everyone to manage any cash, or even exchange for a living, full-time, I thinkmany who click this journal may be presuming to go back on a similar path I'm on myself.
That said, I have account what trade higher risk and in turn higher drawdown than the -10%, an individual can easily divide up his funds between multiple accounts.
The important take is to have one steady, low drawdown account that in 6-9 months period can be constructed to serve to start up some doors/opportunities.
Dont need to mention it has to be live, standard/ECN, with 1-5k equity minimal. No demonion, no penny account considered by anyone really ( except maybe some rather noob 'investors' with small to tiny accounts).
I got it well, I read it well, mindset did not change because December https://forexintuitive.com/attachments/1526425585.png ... not looking to stage on you (I really don't understand why you read this) but maybe help one to assess his % dd risk.
For eg, I make let's say 2-3%/mo ... believing to take your route ... when I will get a 10% cut I will be suffering for very long. So maybe for me 5 percent cut will work.
Yes, is true, account capital adjustments should be made according the % dd ... instead of having 5k and 20 percent dd maybe is far better to trade with 10k and 10% dd ... and that's because the egy already trade min size.
no worries, I know what you mean.Quote:
Originally Posted by ;
I believe there was some discussion about ( or just through the mentoring) that I loe a max DD% acceptable provided that it's about equal to max 2 times the size of the average monthly gains ( and that on the longer term).
Drawdowns do occur, but I believe for maintaining the proper mindset it's quite important the expected time tit requires to recover to a new equity high.
Staying too long because drawdown can be quite demoralizing, and might induce a trader to resort to revenge trading/gambling, or overtrading in hope to recuperate faster. . .where just keep digging.
Of course, what composed here at best should be as a starting point for anybody to work in their own ideal numbers that both mentally acceptable, and fiscally sound.
Once more, the -10 percent chance to be an accepted threshold toward managed accounts, so, personally find that an ideal number to operate around with, and should those aspire to attempt to go down prop/asset way, get their numbers adjusted to be near, or even bellow that.
Just had a 3 hr drive this morning to work in another city.... ho hum.... Not much time now for trading.
However, as a recap on yesterdays's scalping I'd...I used a healthy Oanda sub-account I have (4 figures so non-neglible) in which my past long term trades had shut and for once I had no transactions without a drawdown .... Very rare for me.
So I exchanged from approximately 9 am to 6pm UK time .... I had one eye over the terminal and had just a little work to do at the exact same moment.
My goal was to finish in #s with no DD. I had been hoping for 0.5% daily.
I traded/experimented only at 0.01 lot size to see how long it took me.
I shut out 16 trades. All winners. 0.6 percent (in currency terms this is not just earning my stay, a newspaper around would pay better but anyway it is the principle)
Sounds good. .... but.... As soon as I left work I had two stragglers not shut EURUSD and GBPJPY, together the DD was larger than my profit left.
Late last night the EURUSD swung around into a few pence profit and I shut it for 'reassurance'.
This afternoon the GBPJPY was was at a Service S2 on my chart so I chose a new buy at same lot size. It is now up, and nearly at breakeven combined so that I may shut out....
In conclusion, scalping is fun but so emotional compared to my long term trading method.
And scalping is hard. Really hard.
My hat is off to PF.... Results daily !!! You're brilliant. And thank you.
Thanks for the story! Keep them coming in the event that you own, and I enjoy reading https://forexintuitive.com/attachments/1526425585.pngQuote:
Originally Posted by ;
for the emotional side, it takes exactly like everything else exercise.
For example, it occurs to me quite often that I still close out perfectly good trade all the time, for no impending reason.
One way to shop, I am leaving lots of money on the table.
A different way to shop, I will get quickly out of harm's way.
Both is true.
The important to be comfortable with whatever decision made.
Myself, for example, can be comfortable with carrying 0.04 percent on a trade, rather than taking 0.3 percent if I would hold until where I expected it to proceed. I really dont have powerful feelings to beat up myself, although of course I do note that I was out early.
Within my mind, if I can make approx 6 entries a day, and every can make 0.04 percent. . .or about 0.25 percent a day, I can have a 5 percent month, just shooting this morsels a moment.
Picking up pennies virtually, just the pennies being dollars.
But it still astonishing how quickly all those pennies can add up, provided that there isn't a lot of losing days approximately.
GbpUsd only gave me 0.07 percent a couple of minutes ago. . .will see where the afternoon is moving.
but being end of the month. . .less keen to undertake risk.
and constantly calculate all numbers, spezial the drawdown for your whole capital you have, not merely the capital what's from the 1 account. All assets need to be calculated in a single calculation that is complete.Quote:
Originally Posted by ;
just a brief log:
January ended to be a rather good month, chief account gained 4.67%, but had a few good additional trades on my larger one, gave the month a wonderful healthy boost.
Still in the four digit territory, but not unhappy with the amounts actually.
Fixi not apply to this month ( quarterly) and Axi was quite little last month, until the step upward. Actually it's still on the lower end, but 2 month time will see if I can qualify for another ( and final) level in their own program.
This component mainly toward for those I had a chance to mentor. . .some 'vital stat'.
bellow the myfxbook stat. 225 admissions total( approx 15 per day), involving 8 pairs just, shortest average holding EurNzd shorts 2.25 min, longest average holding period EurCad 48.53 min.
(the meaningless) just 72% win rate,also ( the meaningless) R:R is all over the place. 4.67% for the month, or typical 0.30% approx a day just ( 1 week holiday)...
yet, the 11th consecutive month closed at profit.
https://forexintuitive.com/attachmen...2596862981.jpg
happy trading! https://forexintuitive.com/attachments/1526425587.jpg
it is kind a review sort of post, people who arent thinking about this dont bother to read please.
Since I have said, many times were asked question about the prop arrangements...
I think lots of traders -and count me into this egory- simply dont have outright access for the quantity of funds that needed to exchange comfy low risk.
though I do have a good mid-range 5 figure equity, and it might be enough to live on, technically, some extra assets, be it proprietary funds or personal, has the ability to greatly accelerate the earnings, and help to grow a trader's personal equity base.
On top, personally I find it quite useful with the plogical side to be accountable. Keeps me out of the temptation of revenge trading for the majority of cases, or help to value more a steady growth versus big equity swings, or even help me to remain focused on the downside risk and drawdown, and take losses better, something I always had any problem with.
Anyway, couple days back I had posted about the Fixi payment (it is quarterly)
I was also discussing the Psyquation/AxiSelect app, which is newer for me personally, the alloions started out using a pilot program sort in the end of November, and from now the app is running full.
In fact as of end of December/start of Jan, I have progressed against the Incubation (entrance phase) to Acceleration ( middle stage) with much more alloions to take care of.
Since I have a tiny 5k Axi account set up only in the present time, it is arguable not a huge alloion.
But I like the things there, even more than Fixi, although the performance fees are slightly less, the monthly payment and also the better trading requirements are a plus.
I also believe that on the 'big picture', time horizon they'll be the decision.
Of course I had already mentioned few times, that although the performance fees are reduced compare to some fake-ish prop store advertisements, these progr a commerce doesnt have to jump demonion hoops, and pay any kind of upfront fees. Whatsoever. Damn, Axi even charge back the banking price of this deposit.
Anyway, today also got the first paycheck from Psy/AxiSelect.
Https://forexintuitive.com/attachmen...1120429621.jpg
of course, smallish alloion still this stage, and it isn't a race to make 50-100% months, so those who think it is get rich really quick may come as a disappointment.
For people who wondered and asked me if I think it is real or not real it is a proof. It is real, and it is paying actual cash outside. Https://forexintuitive.com/attachments/1526425588.jpg
and as a track record can be erased too, to consider one into the app ( live account track records only! , 9 months), thus you heard several times from me to really go on and operate on a track record!
Even if put aside 1k to exchange lowered risk, while the remainder is trading in your 'ordinary' risk profile.
I divide up my funds also, not all trade this very low risk since the TE account, but some, like the Fixi alloion account commerce with lot smaller risk...
you will find commerce copier softwares out there which can automatically size your trades to the needs, and there are some workable free ones like that of fxblue's. So there is really no excuse why you cant make it.
When my trading remains on course, probably it leads to greater alloions in both progr, and yes, some stage it can start to look substantial volume.
Hope this post can help to show again for some aspiring traders who with some patience and consistency it is likely to proceed and begin to earn more and more extra money, without the need to perform marketing, promote EAs, charge for instruction, or scam.
Expect those who read this, contemplated to try this route, will get the motivation to give it a try.
Like many areas, in addition, it applies it isnt a sprint...
but it is also a workable option to people serious about accepting trading to full-time.
happy trading!
Congraz . You're riding on street.
It's not like a thailand highway with anykind of surprise will pop up everywhere. :)
Watched your Jan outcomes, and read your own thread. Allmost same profit, I really do scale in. Dont know how to read intervals, but it seem we were opposite directions, possibly. And may have type of result. I mean its management. The way to execute transactions. I can delete this post when its bothering your diary.
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