Sounds like a very long-winded way to trade.
Going from a floating P&L of +50% one day to -10% the next day is not managing risk, wouldnāt you agree. (as of 23.11 now)
I have nothing against the poster at all, and if anything iām enjoying following this, because the swings are vast and that interests me. But, discussing the underlying risk with this approach, as iāve just stated above certainly suggests that itās not maintainable?
Even if it was maintainable - with diddly squat position sizes, are you going to make any meaningful money?
I admit, I donāt use stop losses but even I know when Iām wrong but maybe we should all just wait it out.
This is what a lot of the BP members are struggling to get their head aroundā¦ Rrm2ās strategy isnāt double or nothing (Martingale) itās an equity building strategyā¦ If you analyse (really analyse) it properly its not about the profit takes, itās about building a rolling equity wave that increases over the DD, then hedging until the DD is washed out by the markets constant whipsawingā¦ using the market against itselfā¦ a strategy I have shown previously via a different systemā¦
I know of a little Trading Company run by three guys who blow an account or two each weekā¦ absolute blasphemy here in Babypips according to the gurusā¦But itās the most profitable idea I have seen so farā¦
They trade multiple $1000 accounts aggressively each dayā¦ drawout anywhere between $2000 - $4000 every other day and when the strategy fails, which it does regulayā¦ the $1000 is blownā¦
Risk Management is effectively governed by account sizeā¦
They regularly bank $10 - 12k per week and blow $3 - 5k in failed accountsā¦ a cost of doing business.
90% of Traders here possibly struggle with this concept as wellā¦ profit is pure mathamaticsā¦
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His equity has dropped 60% in real terms - I donāt think we need to get our head around much?
Perhaps this is true, but in this case we can only see one account, and that is what the judgment is based upon. A fair conclusion to make, wouldnāt you agree? Also nothing has been mentioned of several accounts being ran at the same time playing off against each other.
Like I said in my previous post, iām interested to see this play out - but right now with the facts which are in front of me it suggests this is not going to end well.
I understand your doubts and itās too wild for my tastes but it is maintanable with management. I donāt know what his safety mechanisms are but i would be interested to find out.
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Sounds like a strategy for amateurs to just wait it out, but if it works for them it works for them.
If you canāt read the markets properly then this is what you have to resort to I guess.
There doesnāt seem to be that much in the account to lose anyway.
Jamesā¦lets what until it fails, if it fails and goes to 0, then you can gloat all you likeā¦
You havenāt addressed the profits he has been accumulating every month priorā¦
The Fat Chick hasnāt sung yetā¦and your expecting everyone to walk out of the theatreā¦
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Sure, well done with the previous profits.
The market will always come back when your playing a game which is based on range bound price; playing the swings waiting for a return.
But it wont always come back before you get a margin call - perhaps thatās the ultimate risk with this approach.
Also thank you for allowing me to gloat, but right now iām trying my upmost to stay subtle on this topic - however I am on the wine so lets see how this plays out too.
Also iām flattered you remembered my name, missed me much?
Can I gloat? Whatās wrong with having a sound, tested strategy that makes real, meaningful money, and doesnāt require you to take a zillion trades and wait?
And it doesnāt require you to blow accounts like fireworks.
Although, it was mentioned this particular trader had no hobbies, interests and just likes eating, sleeping and trading so I guess you would have all the time in the world to take a lot of trades and wait.
Exactly, hence his lot sizes are 0.01ās, which from my Broker is ~$2.20 per positionā¦
82 positions @ $2.20 = $180+ of used marginā¦ hardly earth shattering margin being used hereā¦
Gives plenty of scope to trade / hedge out should it be requiredā¦
Are you able to point us to your posted strategy that you use to achive those results?
Thanks in Advance.
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Yes its nothing new, Iām sure youāve heard of Ichimoku Cloud.
Itās my own strategy, combined with Heiken Ashi and a series of moving averages.
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@jafoolyā¦ I donāt see the Cloud in your imageā¦ are you only using the other Indicators within the Ichimokuā¦
Also, you use Ctrader, as do I and when I paste statement results I display the whole shabangā¦
Chart, used equity, ascending balance, account balanceā¦ etc. etc. (see below)
Are we able to view your details complete??
You can see the full thing if you want.
Iām using Ichimoku, without the actual cloud, hidden them. All I care about is the Tenkan sen, Kijun Sen and of course the Chikou Spain.
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Well I think we finally have proof of success - this should be bookmarked 
Thank You, this paints a real picture, your carrying considerable DD on those 2 positions that remain open.
Just as Rrm2 is in his strategy. Just as I had to in my strategy earlier in the weekā¦ itās a cost of doing businessā¦ Unfortunatelyā¦ You wonāt see any posted results from James here in BPā¦
yea, 8% is hugeā¦
Ram is at 60% DDā¦
You do the maths
@BaconSandwichā¦ Ahh yesā¦ I have done the Mathā¦ Jafoolyās DD value is greater than Rrmāsā¦
8% of ~38k is ~3kā¦ 60% of ~4.5k is ~2.7kā¦ swings and roundaboutsā¦
You where trying to explain what exactlyā¦
I cannot see your ascending/descending account, you maybe going backwards for all we knowā¦
Yes I only opened them recently and I have several factors for staying in the trade, and I donāt mean just hoping it goes in my favour.
Bearing in mind, they are both down about 25 pips each - when trading off the weekly this is nothing.
Next week weāll know for sure how it panned out regardless.