Necessity knows no law except to conquer
4H Daily Chart Noob Friendly Trading System - No Fancy 70 replies
Most user friendly trading platform 7 replies
Trading 24 hours per day, 5 days per week 14 replies
DislikedIts an interesting competition but I think you guys should set some more rules because the one who gets to a 100% first, doesnt necessarily have the best trading system. It could happen that someone is martingaling the sh** out of their account and gets to 100% in a couple of weeks. As we all know martingale is all about how long someones lucky streak is, in the end it always wipes out an account. Similarly with every grid system. I would also ban extreme scalping systems only because they do not work on larger deposits. I would also limit the max...Ignored
DislikedI can HONESTLY tell you, from I have read here and spoken with professional traders... These DD limitations they set and those DD to GAINS ratios. This is BS! BIG TIME BS! Big time PIG TIME! Damn it! This is so damaging! I have tried to follow those numbers (DD and % gained). They only SLOWED ME DOWN! BS! Pure BS! Crap! About 2-3 weeks ago I have realized how bad those limitations, nobody can reach, not a hobby trader for sure, really are! In my real Life business experience, there were no such values! There are not such values...Ignored
Disliked{quote} I agree with the general sentiment that hard draw down limits can be determent to account growth. However discretionary traders can feel out of sync especially when they in the red. It can become hard to decide whether you are making decisions sensibly or not. Pre defined max draw down limits which take in to account characteristics of system and instrument can help with that.Ignored
Disliked{quote} It is impossible to set restrictions of trading styles, as this become philosophical debate. Where exactly you draw the line? It is hard to decide that. Plus if we really have more rounds in future, it is unlikely that a bad trader with a bad system will come out ahead or be able to double the accounts consistently round after round. Scalping edges reduce on larger deposits. That is correct. However, in forex, it is really when you go over single digit millions of dollars per click that you need to worry about it. For money manager that...Ignored
Disliked{quote} Its definitely not the case that scalping starts to affect results after such large volumes are being traded. I have tried a scalping system in IC Markets on a 50k account and the difference between that and a 3k account that I was trading to compare were huge. The 3k account was making 5% per month while the 50k was barely profitable. The entries and exits had so much slippage that it just didnt work. I reduced the deposit to 20k and there were still large differences. Only when I got to 10k it was somehow similar but it still was not identical....Ignored
Disliked12 Oct, 2018 Grade: D Result : -1.5% Short Comments: Same mistakes as before. Only one day more before discretion is taken away and I fall back to systemic methods.Ignored
Disliked{quote} There is no point in me participating. On one account I am building a trading history with low risk and the other account is at a FCA broker with a 1:30 max leverage so there is no way to compete. A better metric than 100% profit would be a ratio between avg monthly profit vs max DD during a certain period of time, say 6 months. It would be much easier to calculate the systems efficiency that way.Ignored
Disliked{quote} You won 19 of 20 last trades you are on the right path my friend be more selective in opening trades....And Moneyzilla how doo you cope with drawdowns like this i would piss my pants being down 8000 from being in profit a day ore two ago....I am not critisizing your trading i am just impressed how you cope with this JO-JO trading....LOLIgnored
DislikedYou guys both look like you are trend traders judging by your graphs. As for self grading, ouch. A D for yourself? That's gotta hurt the ole self esteem. How about a beer or ice cream cone or pizza for your efforts from you to you?Ignored