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lpan

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Hi,
I've been trading for a few weeks now on my FXCM demo account, and have developed consistent results.

I've managed to average more than -20 pips everyday.

That's right, loss of 20 pips.

Without fail, (and even factoring in the spread), I have developed a consistent LOSING strategy.

I lose about 0.5% on a daily basis.

SO....

I am actually going to trade in REVERSE. Meaning, I'll sell when I originally thought I was going to buy, and buy, when I originally thought i was going to sell. I'll also reverse the Stop-loss and limits.

Has anyone experienced this before?

I mean, if 90% of us lose money in FOREX, why not find this 90% and just trade opposite of what they do?

hm...
 
math; how does that make sen se? If he consistentely make -20pips per days then doing the opposite would result in him netting 20 pips per day, hes not talking about playing like test and place a trade and then reverse it, I think hes talking about doing the exact opposite of how he plays the demo.
 
Part of his net returns will be the spread that he pays. You have to back the trading costs out, reverse the P/L, then reapply the trading costs. At FXCM, the best spread is 2 pips and the average is more like 3. This means computing the P/L from reversing the trades requires a "conversion factor" of 4-6 pips for each trade in the daily P/L. If the OP is averaging more than three or four trades per day the result will be negative. In any case the net P/L from reversing the trades that net -20 pips/day will not be anywhere near +20 pips/day. Does that help?
 
Doubt reversing it will net him 20 pips a day. It could be anything from the entry is just crap, to bad position management skills to an inappropriate stop size for the instrument.
 
I see what you mean math but thats only the case if hes reversing the trade, I was talking about doing the opposite for example
instead of going long as he does on the demo he goes short when he think its long therefore instead of ending with a -20 pips at the end of the day he ends up with the opposite

if GBP/USD has a spread of 2 pips and he goes long from 1.6122 to 1.6100 that's a loss of 20 pips on his demo platform but since he decides to do the opposite on live due to always losing on demo he put a short from 1.6122 to 1.6100 and end up making 22 pips - 2 pips spread on live therefore netting 20 pips, the cost are the same.

if we were talking of first going long then going short then the spread would be doubled thus the profit would not be anywhere near the 20pips

if I pay 2 pips for the spread and end up daily with -20 pips then I paid 2 pips in spread and 18 due to trade going against, thats for 1 trade.Had I done 2 trade the spread would of been 4 pips and 16 loss total.the OP could actually achive a -20pips solely on spread which in this case the OP would not make any profit even if he were to do the exact opposite on live
 
If you trade the opposite of your method and you lose 40 pips per day are you doing twice as good??
 
oldest trading joke in the book..

I'd lost at least 300,000 monopoly dollars in my first week so with only -20 pips you could end up being the greatest trader of all time!
 
An argument over the specifics of a useless thread?

ugh.. does anyone know a decent Burger King where I can get a job.. I can't handle traders anymore.. This reply was even nerdier than computer science school was in preparation for NASA.. Originally, I thought chicks would think it was cool, but you guys are really dragging me down..

I know.. I know.. it's Saturday, but even still!

How 'bout that Michael Jackson?
 
Pippy5000 said:
An argument over the specifics of a useless thread?

ugh.. does anyone know a decent Burger King where I can get a job.. I can't handle traders anymore.. This reply was even nerdier than computer science school was in preparation for NASA.. Originally, I thought chicks would think it was cool, but you guys are really dragging me down..

I know.. I know.. it's Saturday, but even still!

How 'bout that Michael Jackson?
Click to expand...

Hmmm... Saturday night and here you are on the internet, calling guys out for having a trading-related discussion on a trading forum. I guess you still haven't figured out the chick thing. (y) Me? I'm married and home with my wife and daughter. What's your excuse?
 
Which is also the reason I approach threads such as these light-heartedly ;) but don't worry, the world still needs curmudgeons..
 
Way ahead of you yankee ;) learn how to take a joke too man.. I was just kidding y'all.. We play around with each other a lot on my thread ;)
 
Hell yeah, it was all in good fun and I was hoping you'd respond the way you did. Apologies if it came across otherwise.
 
Mathemagician said:
Hmmm... Saturday night and here you are on the internet, calling guys out for having a trading-related discussion on a trading forum. I guess you still haven't figured out the chick thing. (y) Me? I'm married and home with my wife and daughter. What's your excuse?
Click to expand...

I guess you are married but still come to a trading room on a saturday night... ehem... is there something wrong here :sneaky:
 
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