let me update this, going to bed,
12.9%
34-1
A couple of people are making money on here for instance this dude.
Pound Dollar Profits System | Myfxbook
Over a 100% for the year… cool right?
either manual trading or autotrading on zulutrade, once trading forex we are all making money one way or another 
36% drawdown? yeap, thats great
What exactly is drawdown :> ?
when your trade goes against you… So, he had a trade that went the opposite of his entry, for -36% of his margin.
Not good…
Since i started trading yesterday, im 37-1 – and the 1 loss was 6 pips, which is my current drawdown, of 2.3% or half of my daily drawdown allowance, because I aim for 5% daily, I will only allow my account to lose 5%.
But im currently at 17% in last 23 hours
it is measured for different indications… but most general …(as in zulutrade) it means the lowest down and the highest up in a trading history of one trade therefore the lowest dd of a trade should not exceed more than 700 pips (as the highest level) however for a followers account even a dd of 200 is a lot.
Also i saw you mention “never enter a trade 10 minutes before or after the hour” … Why?
Because thru observation, I have noticed alot of movement in those times. So, for a newbie, those times could be good or bad, and happen very fast. So, its just best to not enter at those times. Honestly, even half past the hour isnt good either, lol…
My entire logic of trading, is keep drawdown as low as possible… But then again, I have to be precise with my trading, because I use alot of risk…
The drawdown does not refer to a single loss on a trade for myfxbook. What it means in this case is that he took a couple of losses that saw him loss 40% of his capital from a recent high. In this specific traders account he lost 36% of the high equity he saw in April ($3000) to a low June ($1800).
Follow my advice: stop trading. Spare tyourself a lot incoming pain.
Have you ever considered having 6 or ten loses in a row?
Leverage is a boobie trap created by brokers under the illusion of more access to trading. If your car has a top speed of 200 mph it does not mean you have to drive that fast. We all been trough it and ALL with no exception suffer pain, painful pain, we all been hit by markets hammer, no exceptions, and what makes you think you are special? I thought i was a genious, i was invincible but a flooding in Australia folowed by an earthquake in New Zeland screwed me away. Be humble with the market or market will humble you. Never understimate the power of supply and demmand, never. I called idiot to a friend and he became angry with me, i wish i had somebody who called me idiot back in 2009 before i lost all my account.
I am a good trader and proud of it but i don’t live from it yet, i wanna and i hate my job what other choise do i have. I have confidence in what i am doing but i never risk more than 1% of my account because the posibility of having 100 loses in a row is plausible.
Ok Kid, you sound like me when i was hiding loses from my wife, finally i had to tell the truth. If you don’t wanna receive reprimands from us stop posting for a while and come back when you lose it all the money you need for food and then we will be happy to teach you propperly. There is a unspoken and unwritten agreement in any trading comunity that members only aid two kind of people:
- The humble not knowing anything
and my favourite and proud to be one:
- The one who has blown more than two accounts.
Sorry, if you are not one of the two above you are not wellcome here.
And you think I am a good trader because of the money? At the beginning it was true I needed the money, today money became the least important thing. But you have no idea, you have never lost 2000 USD in a blink so why i do waste my time typing?
because, it might be usefull to someone, but your choice,
another update?
19.7%
40-1
Lets have the myfxbook link… I want to see that equity curve mehn… 40-1 is awesome
