The New Wolf of Wall Street




One more winner for the record. I had also included screenshots of what I am seeing on MT4 before I take off a position. In this trade I took off the buys on USDCAD, so even though the net result of those buy add up to a profit, there are still some losing trades that I take off as well. My win rate on myfxbook is 72% and 74% and everytime I take a net winning trade off there are always some losers in there as well.

Here is a question to add to the mix:

Cost basis reduction can directly increase your probabilities of making money on any trade. This direct relationship does NOT hold true with ANY fundamental or technical indicator, yet we continue to devote countless resources towards fundamental or technical research. So my question is why aren’t we devoting a 100% of our resources on researching better ways to reduce cost basis?

I look forward to hearing some responses =)



Took profits on the above trades. Been a slow week so far


Winner


Winner #2 today





Very nice winner here took a little bit ago






Getting a lot of consolidation in the markets this morning which = lots of winners :slight_smile:



1 more winner and results for the day so far

Looks like my data hasn’t updated since 9/27 on myfxbook so I emailed them to see what the deal is.

Right now I’m using 1.42% of buying power and the weekly performance is below. This equates to 1.17% gross return for the week.



Biggest position right now

Got some consolidation. Just took profits :slight_smile:


I checked out Myfxbook and it looks like your account only exist from January to early March of this year. Have you been keeping it up-to-date?

You may be looking at one links I provided earlier in the thread from when I needed to run two seperate accounts. See this link for the most recent/relevant info:

https://www.myfxbook.com/members/bronztrader/bronzhedgetrader/1632319

Thanks for reading my thread!

Wow! Some crazy markets out there!! I wish I was able to watch the markets moe closely today cause I missed a ton of action especially in GBPUSD. Finally getting some real volatility in he markets and I was hoping we could get some soon so that I could get more stress testing in. Here is my current drawdown. Looks to be about 3.1%. Comments welcome!


G’day bro.

So remember this statement a few weeks ago. Concerned cause looks like you could be in a world of pain at the moment.



So whats the contingency plan bro?

Mr. Billibob Back in action!

The contingency plan is to keep trading (as is with any move). Despite how those charts look, I have managed to stay very small still. I am only using 4.6% of total capital. Here is my current PL which shows I am only down about 4.04% on total capital.


I am bummed that I couldnt trade through that massive move in the EURGBP and GBPUSD because they were followed with very fast reversals. Would have been some very nice gains

On a more philosophical note and in response to your original comment, I totally understand the risk here with a strategy like this. You are constantly exposed and a large enough move will blow up the account. But to be honest I have reviewed the charts going back as far as I can and I can’t find a move that large (not saying that there might not be one at some point). Ultimately, due to that, I think this is a strategy where you keep pulling money off the table. It is for sure a money making strategy ( and it is very straight forward and simple, “any mug punter could do it” as you say ( and I think that is an advantage!))but there is a very small possibility that you could get blown out.

You need to look at a strategy like this in two ways: 1) here is a simple strategy in which you can start making money right away with but with a very small probability that the account may blow and just start with a very small account and just start pulling gains off the table or 2) continue on the ever lasting hunt through non sense strategies on countless forums and potentially waste years trying to find something that may work (of which I have done). The choice is yours…


Just took one of my biggest positions. Ended up being a small loser but took a ton of risk off the table. Was a winner when I started taking it off but was in a fast moving market.

Biggest position right now.


Is there a closing point for this position? What’s the floating P/L? o_O

Hello,

Sorry for the delay in my response. Been away from the forums for a while, but the max drawdown on this position ranged from about $4-5k. Price ended up coming around and I took some profits out of it. I am still trading this account. Here is a link to Myfxbook account:

BronzHedgeTrader System by bronztrader | Myfxbook

Current profitability is about 31% gains so far this year. Not bad at all since middle of May 2016 inception.

If anyone else has any question, please let me know. I will try to be more active on here.

Happy Thanksgiving!