As a strong advocate of The Rumpled One a.k.a TRO I hereby would like to prove to you all that it is ABSOLUTELY 100% POSSIBLE to “drain the banks”
That being said, I will post daily updates of my trading account here…enjoy!!!
I dont mind sharing how I did it…I find that this method is good for building equity in the beginning stages of trading (newbies) once your equity is built up and strong enough then maybe you could switch to strategies that require you to spend less time in front of your PC. For this particular stage and strategy you need to devote at least 3 to 4 hours a day in trading…but if you ask me its damn well worth it.
Nice going, im a newbie and interested in learning how you trade…please share yr sytem
Thanks
Also very interested in your system, please toss some info our way! 
Obviously you’ve done a great job. Congrats on that.
So you trade without a stop loss?
How many percent of your account has been at risk at any one time? I guess 100% if you don’t use a stop.
Let’s see in a month how you’re faring then, Yahaya Ishiaku.
Having no stop coupled with a large position size could put you in incredible danger in the case of your house catching on fire, rabid seals attacking you, an elephant stampede, or an asteroid impact destroying the world. In a case like those, you just might not have the time to call in an order before the trade moves against you and you get a margin call.
No stop loss??? 
:eek:
Look at his .doc, the column for stop loss placement is almost always empty…
Another future member of the 95% club I fear.
EEEk! I agree that there are millions of ways to get to Rome, and everyone choose the one that fits them the most. BUT, I strongly believe that in this business you have to take some sort of insurance in case things go wrong.
I think that every method/system/way of trading, reaches a point, in wich you know for sure (if you look at it objectively) that your trade set up is no longer valid and hence it has failed, no matter how far from your entry it is.
In conclusion I see no reason not to use a stop loss.
why didnt u save a html file, instead of a doc file…?
Maybe he just uses mental stop losses? I know I do, I just draw some lines for reference and when they are hit, I close my trade. Doing that, wouldn’t show any s/l usage in my doc either.
STOP LOSS OR NOT TO STOP LOSS, that is the question. The thread starter is showing their results. Rather than berate, let’s just watch.
Yeah, stop loss or not stop loss, the results he’s showing are great.
There is no such thing as a mental stop loss.
dont try to be too smart…like i said in the beginning of the thread the system is NOT mine originally rather it was created by “The Rumpled One @k@ TRO” and we all adhere to strict risk management techniques e.g risking a maximum of 5% of equity and if you happen to loose up to 20% of the previous days profit then QUIT trading and wait for other opportunities the next day. This way your capital is safe and you also have 80% of your previous day’s profit to cushion you. I personally use a 10pip stoploss/profit (although TRO goes 5 to 6 pips) which i ‘set’ mentally. If you are accustomed to the system (its combination of indicators) you can always tell when the market is REALLY going against you and close your position.
PLEASE TAKE NOTE: The fact that I have this journal here doesn’t mean we are newbies ourselves…we have cried our fair share of blood trying to decipher the FX market so if you are not interested in the system don’t discourage others. After all there is no harm in trying.
The fact that you are not disciplined enough to set a mental stop loss and act accordingly doesn’t mean its impossible. A lot of you go around with your noses up in the air acting like “Mr I Know it All” and yet few actually do any live trading. I’d love to see your live trading account history if your results are as good and you are making money consistently…then I will shut up.
For now since you are not helping out the newbies positively in anyway, you might as well shut up instead of discouraging others when you don’t even understand the basis of the system. No one is asking them to go live right away…thats why we have that thing called a demo account.
REMEMBER PEOPLE THERE IS NO RIGHT OR WRONG WAY IN FOREX TRADING AS LONG AS YOU ARE MAKING MONEY…find out which system gives you the confidence and the results and STICK TO IT. That is the holy grail of Forex!
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I pick a counter that trends very well e.g EUR/USD and less prone to drastic or erratic movements e.g (GBP/JPY).
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I traded based on M5 SnR signals with an average range of anywhere between 5 to 20pips. Due to Price movement being more sensitive, you may end up holding a position that has already exceeded your planned stoploss levels in the time it takes you to actually enter your SL and TP values.
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My broker has a minimum of 10pip for SL and TP from current market price so based on the SnR range, i may want to risk for example only 5pips i wouldnt be able to execute the order.
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This method is based solely on price action on a small time frame so it is basically a POINT n SHOOT kinda trading…whatever analysis you need should be done before trading starts and you just act based on that.
I’m not perfect, NO ONE IS not even you…but at least this is an alternative for newbies who are still trying to find their footing in FX so why not let anyone interested try it and let them decide for themselves whether this system is medicine or poison to them!!!
The correct statement is that you’re not disciplined enough to set a real stop loss.
And no, I won’t shut up when clowns like you drag the TRO crap back here again with the sole intent of promoting him.
You’ve just been reported. I’m done with this thread.
edit: oh, btw I am consistently profitable.
Can I play
Account Summary:
Deposits: 10.00
Withdrawals: 0.00
Profit: 26.24
Swap: -0.07
Total Trades: 146
Trades Won: 116 (79%)
Trades Lost: 30 (21%)
Total Pips: 471.0
Trading Started: 01/17/2010
Balance: 36.18
Equity: N/A
Leverage: 1:0
That’s 13.8% a day
262% total
I use a stop
its a tiny account so emotions are not much of a factor (yet)
huge gains are possible
sustainable? seems like a bit to much to ask for:D
I have read TRO stuff(love the shirts) but this is from my own method
