I tend to ask of those who say 1% / trade - Why do you need to put so much money in your account if you’re only using a tiny proportion ?
Exactly so !
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Very simple - Leverage laws in UK,EU and elsewhere.
Without going into leverage mathematic calculations, if you trade DAX on IG for example with a stop loss of 20pts you would only be able to risk 2% of your account ie £1 bet for every £1000(approx) in your account and if you need a 40pt SL then you can only risk 1% or risk margin call.
Yes, it is quite mad, but of course, we have to be controlled. 
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Johnny is right. With 3 % risk I can only lose ~3,6 R before I have to put additional money into my account. 3 % risk is really dangerous for the account.
This is why this is only an option now, at the beginning, when my account is small enough and with this high win rate. I will probably reduce risk to 2% with my first increase in size already.
Edit: I wired new money to the account. Risk is now at 2 % boys. I will change the RoI numbers above accordingly.
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Hey, I understand your situation all too well. I have 2 kids and a fulltime job aswell. I get my time in the evenings when the kids are in bed. Unlucky that it is when the NY session is about the end.
Anyway what I’m curious about is your 2 trades. What do you mean by I look for a long and a short on the 1h/2h. You just set 2 orders at for example a resistance level for short and a support level for a long and then hope for the best?
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Basically yes. I trade other (mostly breakout) traders. I go short just above the last high, which looks like there are stop and buy orders. Other way round for my long order. I don’t need a big move, only a small reaction to the support or resistance level. Only once in a while a high or low is broken without an immediate counter, at least in my market (DAX). I did not test this with any other instrument. Maybe I will when I have more time. I can imagine that it could work for other heavy traded instruments.
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Week 3
| Trades | 5 |
|---|---|
| Win | 4 |
| Loss | 1 |
| Win % | 80,00% |
| Profitfaktor | 4,04 |
| R | 3,04 |
| RoI | 6,08% |
Total:
| Trades | 13 |
|---|---|
| Winner | 10 |
| Loser | 3 |
| Win % | 76,92% |
| Profitfaktor | 3,33 |
| R | 7,00 |
| RoI | 14,00% |
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How far above the high or low are you placing your orders?
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Very close. Only around 1 point above or below.
Hey mate! @Worker_Bee
I trust that all is well with you and the family. Just touching bases a bit. I’ve now taken the time and had a preview of your previous thread etc. Hope all is well!
Keep it up, to both you and all the dads/mums out there managing a family and trading.
Take care!
Cheers.
Had two bad weeks with this strategy, where I gave away all the profits. Then I was on a two week vacation in Portugal, near Tavira in Algarve, beautiful place. I rested, cleared my mind and went through this circle of first wanting to quit trading for good and then throwing me into charts, researching like hell.
I consider me a successful person. I have a very well paid job and a wife who also has a very well paid job. Together we are not rich but…you know. We usualy buy what we want without thinking about money. We have a big house and bought a new car recently. What the hell do I want in the markets? I started thinking I would get rich quick, I know now that this is not possible, even if … margin requirements in EU limit us a lot … But now I cant let go because, it would be the first time in my life, that i would fail at something. And I am a terrible loser.
Yes you are right: This is why I am back listening to TH again. I dont copy him, but I trade and manage his SRS and BB setups on my own. Goal for now is not to make money, but cut losers quick, to let winners run and add to it. I funded my account with enough money to triple my position. I am up around DAX 80 points for october.
This 80 Points come from 2 trades: +52 on first entry and +18 on second and +32 on first, +14 on second and +14 on third entry.
The rest of the trades were breakeven or small losing trades costing me -50 points.
It is hard. I go to the screen each morning thinking about how I most likely will lose or trade breakeven today. But I will force myself to continue. Because this is the one thing everybody paises about TH.
At one point, one has to listen and learn. I wanted to optimise the amount of time I win. That doesn’t work for me. Instead I will try to optimise the money I win, when I win.
Sorry for this text wall. I just came back from a black hole and wanted to give you a status update. Have a nice day.
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Sorry to hear about your recent setback. I’ve almost hung it up several times over the past few years, but like you, I’ve come too far and learned too much to just give up. And I’m so glad I pushed through the tough times because it is all finally paying off.
I truly believe this is key, to focus on the process and not the profits. I like to use the old baseball analogy; focus on making contact with the ball and the home runs will come naturally.
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Thanks for sharing 
Keep pushing, it’s all part of the process.
Hey! Appreciate the update. Keep doing what works for you…
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I have to say, that adding to a winning position is kind of addictive. After forcing myself to do it, I can’t get enough and I have to be careful not to be to aggressive.
I am currently 140 DAX points in profit. 90 of those after I increased my regular position size. First time I didn’t freak out and immediately lost with the higher size.
Today began with a -20 point loss on the long side and continued with a short which gave me +60 on first and +10 on second position. I closed my second position quite early to cover the loss a bit and with that I gave away another 40 points. Happens! I am still waiting on a day, where I don’t experience a loss before I get a runner.
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It was a good week for me. +90 DAX points.
+160 for october
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I switched back to IG’s Turbo24 account, because they recently lowered their spread in the DAX on all products to 0,9 points, which is 0,3 points better than CMC. Also I realized, that apparently the EU margin regulations do not apply for knock out certificates? I can get a lot more leverage with them on IG than with a CFD account. The trading with Turbo24 certificates is not as convenient as trading CFD’s, but in the long run I can live with that because I will stay motivated with potential higher percentage gains.
My 160 points / 5,33 % with CMC would equal 16 % with IG, just because of higher leverage and therefore smaller account size.
BUT. My goal is still just to trade consistently: reduce risk on trades fast, adding to winning positions and let them run. I did well the last 3 weeks, but I do not dare to be eager because I know that I can lose it all within hours. And thats the key maybe? As soon as I want more than just to trade well, I start to overweight losses and slowly lose discipline.
Edit:
And with the higher leverage I don’t even need to make 300+ points per month to grow fast. Even 50-100 points per month would be enough. That calms my mind and I hope will also enable me to stay disciplined.
This week I quadrupled my position size, because of the higher leverage on my new account.
-0,5 points on the long SRS and +51,2 points on the short SRS.
+50,7 today and +210 for october.
-0,4 points on the long SRS and +22,4 points on the short SRS.
I beat myself up right now, for TP out of a ■■■■■■■ runner who would have made another 150 points. Well. I was influenced by TH who also took profits. I mean there was a reason…the wick of the first 5m bar. But I just said to my wife: today I will let it run and maybe stop me out for BE, returned to the PC and did the opposite. Maybe it is the higher position size. I have to keep cool. There will be a next trade.
I am up 232 points / 205 € / 20,5 % for this month. This is a milestone for me. I never was up more than 100 € ever. I raised my position size from 0,1 to 0,5 to 2…the last two days alone I made 145 € / 14,5 %.
I just need to stay disciplined. Lose small, win big.
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Good week, +89,9 points. +250 for october.
I am up 239,82 € / 23,98 % on the account. There are 4 more trading days in october.
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Until now, it is not my week. Missed mondays session, yesterday I lost 22 points, today I made 11 points … I had a few very unfortunate breakeven trades. Todays SRS flip short is a good example. It went like 40 points in my favor and while I was thinking about how to add to this, it turned, stopped me out for 0 and then fell in my direction.
I made back what I lost on the first trade of the day - a -31 points SRS long - with a +42 point BB short. I took profit around 19290. And it fell to 19200. I missed like another 90 points. Like I said, its not my week.
Tomorrow is the last day of the month. And I still don’t know if I want to increase my position size from 2 € to 3 € per point.
+239 points / 217 € / 21,7 % for october
Edit: Interesting fact. I looked at my spreadsheet. I used to do that every day. Now not anymore, because it distracts me and creates a mindset I don’t like. But because the first month of a TH like style of trading is almost over, I risked a little view and surprise…I am only profitable this month because I flipped the switch and took the counter setup after I got stopped out. Something I never did before, because I thought I couldn’t handle it emotionaly.
It is the best month ever for me. And only because I just took the setups, reduced my stops, added and waited patiently. Of course it could have been an even better month but…
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