A journal to keep track of how long I can keep up my 100% success rate

[ZEN archer]

No thank you. I have been with my broker for some 12 years now...I'll stay with them

Too late know - they deleted the brokers' posts.

Anyway I can still use your system if you care to explain it

BTW Who is your broker?

 

[barjon]

Sure...I'll let you know when I get there and by the way I don't use any stop loss so I don't have to worry over Black Swans and Internet crashes

Really seductive strategy this, tried by many on here over the years .

No stoploss because price will eventually come back from being thousands down until you can bank your couple of quid. Works a treat, time and time again, until the one occasion when it doesn't and you're wiped out - and you only need the one.

You're deaf to all that, of course, so plough on .

 

[ButterFlyTrader]

Too late know - they deleted the brokers' posts.

Anyway I can still use your system if you care to explain it

BTW Who is your broker?

Barclays

 

[ZEN archer]

Barclays

Thanks

What about the system?

 

[ButterFlyTrader]

Really seductive strategy this, tried by many on here over the years .

No stoploss because price will eventually come back from being thousands down until you can bank your couple of quid. Works a treat, time and time again, until the one occasion when it doesn't and you're wiped out - and you only need the one.

You're deaf to all that, of course, so plough on .

I have been in position when Leeson broke Barings and brought the Nikkei to 5000... when Soros brought the Bank of England to its knees and gave a wild swing to the DM, when Lehman Brothers broke...and the Euro went on a 24 big figure drop... yes I have ploughed on...no problem with that...the system is robust.

 

[ButterFlyTrader]

Thanks

What about the system?

What about it ?

 

[ZEN archer]

What about it ?

Any explanations how to use it?

 

[ButterFlyTrader]

Any explanations how to use it?

Only if one is willing to spend time and effort to learn it.

 

[tar]

Win rate alone is meaningless , what about other metrics , whats your account max DD ?

 

[ZEN archer]

Only if one is willing to spend time and effort to learn it.

Always if it's a good system. Please go ahead

 

[ButterFlyTrader]

Win rate alone is meaningless , what about other metrics , whats your account max DD ?

If win rate is meaningless...nothing else would have meaning for you...why waste time

 

[ButterFlyTrader]

Always if it's a good system. Please go ahead

It is a 3 year apprenticeship. You willing to put in 3 years of your life?..get yourself an air ticket here.

 

[tar]

If win rate is meaningless...nothing else would have meaning for you...why waste time

whether your win rate is 10% or 100% i dont care until i see other metrics , max DD is one ...

 

[ZEN archer]

It is a 3 year apprenticeship. You willing to put in 3 years of your life?..get yourself an air ticket here.

Not really

Thank you and good luck

 

[ButterFlyTrader]

whether your win rate is 10% or 100% i dont care until i see other metrics , max DD is one ...

Great... don't care too much about this. I am not trying to attract anyone nor recruit anyone...I am doing this as a recording of my trade journal so I am not here to prove anything to you

 

[ButterFlyTrader]

Not really

Thank you and good luck

Right...you have a great life !!!

 

[Forexmospherian]

I have been in position when Leeson broke Barings and brought the Nikkei to 5000... when Soros brought the Bank of England to its knees and gave a wild swing to the DM, when Lehman Brothers broke...and the Euro went on a 24 big figure drop... yes I have ploughed on...no problem with that...the system is robust.

Hi ButterFlyTrader ( I see the nic as changed? )

I know of an Independent FX account manager who has been a member of another site for over 4 years who uses a similar strategy with no stops.

He is working with over a million dollars of capital from various private investors and normally trades for targets of 50 - 200 pip wins on 3 or 4 currency pairs.

He uses very low lot / stake sizes - allowing for trades going 1000 pips in the wrong direction and not having a large effect on his winnings - but this last 2 yrs he has already been over 1500 pips away from some of his entries on the EU and the GU with multi trades open

I have had many a debate with him saying its OK you having no losses and being prepared to wait 1 - 4 years for price to come back - but the method is inefficient and therefore on good years he might make 60% pa plus - but on bad years its down to break even or best 10 -30%.

Ok - if its all your own money 30% on million plus is still very nice - but what a risk you are taking - as you can have tens of thousands of capital tied up in losses for a long period.

He does use clever MM to pump on his wins and hedge on his open loss positions but with you only after small targets - even with scalper precision accuracy - you will never keep the 100% method going and keeping you account growing every year ?

I always like to be proved wrong - and have been a few times - so I always have an open mind and therefore can only wish you well

Regards


F

 

[ButterFlyTrader]

Hi ButterFlyTrader ( I see the nic as changed? )

I know of an Independent FX account manager who has been a member of another site for over 4 years who uses a similar strategy with no stops.

He is working with over a million dollars of capital from various private investors and normally trades for targets of 50 - 200 pip wins on 3 or 4 currency pairs.

He uses very low lot / stake sizes - allowing for trades going 1000 pips in the wrong direction and not having a large effect on his winnings - but this last 2 yrs he has already been over 1500 pips away from some of his entries on the EU and the GU with multi trades open

I have had many a debate with him saying its OK you having no losses and being prepared to wait 1 - 4 years for price to come back - but the method is inefficient and therefore on good years he might make 60% pa plus - but on bad years its down to break even or best 10 -30%.

Ok - if its all your own money 30% on million plus is still very nice - but what a risk you are taking - as you can have tens of thousands of capital tied up in losses for a long period.

He does use clever MM to pump on his wins and hedge on his open loss positions but with you only after small targets - even with scalper precision accuracy - you will never keep the 100% method going and keeping you account growing every year ?

I always like to be proved wrong - and have been a few times - so I always have an open mind and therefore can only wish you well

Regards


F

The nic has not changed..I wonder where that came from.

Thank you for your kind thoughts. I know what you are talking about and understand the way your friend trades. I don't do it that way..in fact it is so vastly different that I have difficulty finding any similarities.

In any case this has been developed over a long time...a very long time so it is not even remotely likely that I will change anything just because some people from this forum is uncomfortable with the way I trade.

I have done well...thank you...and I hope to continue doing well so I hope I can have a good recording of all the trades I do and I certainly don't think I need to defend any of my decisions to enter . exit or hold any positions.

 

[timsk]

ButterFlyTrader,

I have done well...

By your own admission in the OP to this thread, you've been trading your current methodology for just two weeks at $1.00 per point. Is this your definition of 'doing well'? I said I think you're here to have a laugh and a joke BFT but, as things stand, the joke is very much on you.

Tim.

 

[ButterFlyTrader]

ButterFlyTrader,

By your own admission in the OP to this thread, you've been trading your current methodology for just two weeks at $1.00 per point. Is this your definition of 'doing well'? I said I think you're here to have a laugh and a joke BFT but, as things stand, the joke is very much on you.

Tim.

You are free to laugh all you want... I do smell fear