well there it is… GBPJPY up!
XAUUSD accelerating in long direction.
robots +10% 
3rd wave unfortunately for GBPJPY towards previous low support zone before long direction. Another BUY possibility for those reading a little behind!!! (LONG TERM)
Yes, some trades make millions by trading in forex. They not only have a larger capital to invest, but the knowledge and expertise. Attaining that level of expertise comes with practise and continuous learning.
hi mindymassey… you already had some million dollar trades maybe?
ps
by 1 jan all 4 robots are finished in backtests. then no manual intervention is future goal. (100% by stats + standardisation) now i do have to control some of the trades because to much lots / trade. therefore lots/trade is lowered to 0.01 std lots / E or $ 400. (max 4 open)
hopefully trading 10-20% (PF year = 3.0) instead of 100% each month!
To put it another way, trading requires both knowledge and abilities. Which every trader must achieve. If he wants to make a good living from his trade. For example, one should have a good understanding of strategy, discipline, plan, risk management, money management, and mentality control, among other things.
YES, very interesting video this guy
indicators vs price action
manual trading vs algoritmic trading (me personally focussed on algoritmic atm)
mindset of a trader…
technics vs fundamental etc
sniper tactics
some of those elements u mentioned like strategy, risk management, planning, mental control… but where to start???
well…
-> stop F***… start trading…
you are only able to see what u are doing by measuring your performance. (set up of ur perf data by ?? )
(big killers?.. what happend?) (continues profits some weeks… what happened?)
then i think u need some plan or strategy. how much willing to risk 1%? 2%? Not ever crossing the -20% level.
Hariskhawaja… are u able to continue?
personally i’m searching for something that does work!
- timeframe with river flow (trend) or ranging market
- another timeframe (trigger timeframe) for example flag pattern, wave pattern, bounce of resistance, new trade session.
so we are able to set up a plan according to our strategy…
strategy =
1% risk and 3% win, (1 to 3 ratio)
1 trade each day max! etc etc
only trading GBPJPY, XAUUSD, EURUSD for example
no trading over weekend.
no entries on friday
then… analyse the thing ur doing…
back to our 2 ^ 13 strategie…
E 100 x 2 ^ 13 = …
… = 100 x 8000 = 800.000 (E 100 -> E 1.000.000)
our first trade was a failure… i stopped it before it went down towards the big resistance zone of GBPJPY.
Then we waited untill this big fat resistance zone… we did a buy with SL -50% and TP 100%. atm we are already above this goal of +100%. so we finished first +100% (1 of 13).
I think the price will continue. So did a nice entry (buy) at the XAUUSD gold spot because I think both pairs will continue to go up. (GBPJPY towards 164 for sure, then 167 etc)
XAUUSD towards 1870 dollar per ounce. Then 2 first of 13 trades have been finished of our 13 trade plan E 100 -> E 1.000.000.–
I am sure they are
Yours is not a bad plan, its just that sometimes the way it is set up can interfere with the probabilities of it succeeding.
I have to say if you don’t mind the r:r ratio at 1:3 is ambitious. Its inherently much easier for price to move X pips to the 1% stop-loss order than for it to move to the 3% profit target. In addition, to achieve such a high ratio consistently you need well-researched TP set-ups: most traders don’t define these objectively enough to be reliable - almost all TA research focus is on the entry signal - its hard to find anything reliable on TP signals.
But that’s perhaps just me wittering - how will you be doing this?
hi tommor…
-
the plan of 1/3 was just an example how to set up a plan or strategy yourself.
-
the robot is doing 1:1 trades. only occasionally the exit indicator is used to close the trade.
-
the manual setup thing I’m doing in this forum (E 100 x 2 ^ 13 = 1.000.000) is using a -50% / +100% rate (-0.5 / +1 = -1/2 = 1:2 trading for example GBPJPY, EURUSD, XAUUSD.
hope it’s now more clear by defining this above.
–
I searched for some professional signal providers / managed account services as well… to see how I’m doing against others …
Well this is the conclusion…
PIPSHIP VS OTHER MANAGED ACCOUNT SERVICES
Best robots I know trading CFD’s, forex or crypto’s do < 5% each month and do have DD’s up to 30%. Most professional robot managed funds are only availble with deposits above 10k to 25k. For example investiu.com. It’s a good alternative for trading with PipShip actually, although the risk and return ratio of INVESTIU WHSelfinvest Luxemburg is not as good as mine. They use 4 robots to do only 30% average each year. PipShip is doing 200% avg each year same drawdown rate.
I will search for more companies doing the same. would u like to help maybe?
I know nothing about robots or commercial trading I’m afraid.
But it seems to me that most private retail traders fail to reach their projected r:r. If they set it unrealistically it damages their win rate so much they plunge into draw-down or get disheartened and react emotionally. And never see them again…
Seems to me that a r:r of 1:3 might have about a 25% win rate. That’s just a notional guess. I’m guessing a r:r of 1:9 would have about a 10% win rate. That’s a guess too, but you see the direction of travel I’m sure.
I just can’t swallow that a low win rate combines with a strong r:r to make long-term profitable trading. Mathematically it should work. But I’m sorry I can’t picture precisely why it doesn’t, it just doesn’t.