As usual I invite all and sundry to chime in. Someone (myself included) is bound to learn something from the exchange. A little long but it needs to be said.
Apparently I dont trade like the majority. I diligently soaked up information from a bunch of sources and then scattered everything and built up my own strategy. My very first rule is this…do not lose any trades, lol. I know people have a problem with this but if I enter a race the intention is to win, not to come second or third. When you tell me I must expect to lose some trades right away I am defeated, but that is just the opinion of a mad man I guess. Incidentally my name is actually an acronym with the last letter being ever. Go figure.
The old traders are set in their ways but I want to implore the new traders to use what they have in their cranium and think outside the conventional box. When I posit that 5% per day is totally possible people on here pooh hoo and pour scorn over the idea. They tell me I should be rich in 2 years and all sort of things. I have no intention to be rich because that status comes with a whole set of issues I prefer not to deal with. What I want to be is comfortable, nothing more. Funny enough these same people when I tell them I set targets for the month they say that is garbage and that as long as they see a viable trade they are taking it. With my strategy what that means is that I would be trading 365 days a year non-stop all day. They are limited in their thinking so you cant reason with these people.
Just to make a point for this month of August I did some trading to show what is possible per month. Nothing extra ordinary on my part. In fact I got to the target ahead of time and cruised to the finish line (the month is still not finished). I want you the reader to look at what is before you and comment and for once I will not say much in my thread. Things to note in particular are (1) the total number of trades, (2) the number of consecutive wins, (3) the number of losses (which I explained in an earlier post, and (4) the percentage increase since the start of the month (my math is not too hot).
Few more things to note. At the bottom of the list of trades those are the ones that went over a day so the swap fee comes into play. The ones with the pluses are at the top of the list. There were 20 trades today of which 12 appear on the list. On the metrics chart the vertical lines are the weekends and note the drawdowns. And I am carrying a single trade ($-32.42) which serves the purpose of reminding me to stay in my lane. As long as usd/jpy doesnt rise to 200 I should be ok.
One guy commented on a previous post that in a nutshell my returns are basically too small for the work I put in. He doesnt even understand that what I am doing is laying the groundwork. What happens when I begin throwing 4 trades at a time after upping the lot sizes? I am in no race. This is like the game of cricket where big swings trying to get sixes and fours will surely get you out. I am taking the singles and staying in the game.
What is your take on this rant from the mad man? lol.
Plus PLEASE…watch these two videos on youtube…
7 dos and donts of trading in a small account. (Ross Cameron)
19 Wins, 0 Losses: Recorded Live. No Wonder He Withdraws Weekly w/ Lord Bankz (Trading Nut)
rather than hang on to a losing position until it eventually “comes right” - one day the market will make a structural change and it may never come right - and tying up equity in the increased margin and possibly expensive carry costs along the way - not to mention the stress of following it…