Cash FX

DionysusToast said:
Have you considered upping the stakes by perhaps drawing cash on your credit cards or taking out a loan ?

I find the idea of 100% in the trade a bit limiting personally.

Real men give 200%.
Click to expand...

Dionysus.

I'll be honest.

I started off disliking you.

I didn't agree with your viewpoint on TA that I saw expressed in another thread and you mildly irritated me.

But now after reading more of your posts I have come to the conclusion that you are not only very sharp but clever too, with a good sense of humour.

In short, I now like you.

Thanks for posting.

Tom
 
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trader_dante said:
Dionysus.

I'll be honest.

I started off disliking you.

I didn't agree with your viewpoint on TA that I saw expressed in another thread and you mildly irritated me.

But now after reading more of your posts I have come to the conclusion that you are not only very sharp but clever too., with a good sense of humour.

In short, I now like you.

Thanks for posting.

Tom
Click to expand...

Feel the love ! :love:
 
Hi Trader_Dante,
Sorry if my question not make sense to you. I try to rephrase.

Please can you show me how you calculated your risk / reward number of 1:3.3 so far.
Your earlier posts stated that you made >

1:39.5 on eurusd
1:14.3 on gbpusd
Loss on gbpcad
Breakeven on gbpusd.
And you say total risk reward is 1:3.3

I dont understand this. Please can you explain to me.

Also, you have taken 4 trades, 1 loss and 1 breakeven and 2 wins.
Can you also explain to me how you get 75% hit rate?
You count your breakeven trade as a win?
This is somewhat misleading wouldnt you say?

Thanks very much for your help.
 
D70 said:
Hi Trader_Dante,
Sorry if my question not make sense to you. I try to rephrase.

Please can you show me how you calculated your risk / reward number of 1:3.3 so far.
Your earlier posts stated that you made >

1:39.5 on eurusd
1:14.3 on gbpusd
Loss on gbpcad
Breakeven on gbpusd.
And you say total risk reward is 1:3.3

I dont understand this. Please can you explain to me.
Click to expand...

I added 553 and 542 (the number of pips made in my winners) together to make 1095.

I then divided this figure by the number of winning trades (2).

This means that my winners on average made 547.5.

I then divided this figure of 547.5 by 166 (the average number of pips lost which has only been one trade so far) to get 3.29.

This means that my average winner is 3.29 X larger than my average loser.

This is what I tried to express above but I called it R:R by mistake. It is actually the win ratio.

D70 said:
Also, you have taken 4 trades, 1 loss and 1 breakeven and 2 wins.
Can you also explain to me how you get 75% hit rate?
You count your breakeven trade as a win?
This is somewhat misleading wouldnt you say?
Click to expand...

I did count my breakeven as a win.

Personally I used to take out breakeven trades from the stats and just count winners and losers but I was told by several professional traders that breakevens should be counted firmly in the win column. I still don't really agree with it.

Let's just get rid of them altogether and call it 66%? :)

At any rate, with only 4 trades all stats are completely and utterly...meaningless.
 
Paulie_5 said:
TD,

Isn't your win rate actually 100%, because at some point during all trades, you were in profit ? :D
Click to expand...

That 50 pips character made some of the most absurd statements on strike rates that I have ever had the misfortune to read. I still cannot believe that so many people came to his defence and outcast me. Half of the members of this site need their brain examined.
 
trader_dante said:
That 50 pips character made some of the most absurd statements on strike rates that I have ever had the misfortune to read. I still cannot believe that so many people came to his defence and outcast me. Half of the members of this site need their brain examined.
Click to expand...

I gotta tell you (as your friend) that calculating your Risk:Reward by how many pips your trade went offside and not using a stop is right up there with 50pips strike rates.
 
elitejets said:
I gotta tell you (as your friend) that calculating your Risk:Reward by how many pips your trade went offside and not using a stop is right up there with 50pips strike rates.
Click to expand...

That figure was meant to express the most that the trade was ever offside against the total reward when the trade was closed. The figure is used by me as an illustration of competency in entry.

Those that are still saying "I am risking 50 pips here to make 200" and thats a good trade should put "Trading for Dummies" down for a minute and consider that you never know when the market is going to let you out so that what you are prepared to risk is largely meaningless.

And for the record: I do use stops.
 
Buy @ 6484? (not trying to be a smart#@# or anything ;) ) just my 2 cents.

Clear downtrend, with no breach of its late january trendline to even consider a long.

The fibre/cable trades were brilliant dante, you don't have to spell that one out to me.. it was quite clear :)

Look forward to your future posts!
 

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trader_dante said:
Those that are still saying "I am risking 50 pips here to make 200" and thats a good trade should put "Trading for Dummies" down for a minute and consider that you never know when the market is going to let you out so that what you are prepared to risk is largely meaningless.
Click to expand...

Quoted for truth (although it does spoil the thread somewhat)
 
trader_dante said:
That 50 pips character made some of the most absurd statements on strike rates that I have ever had the misfortune to read. I still cannot believe that so many people came to his defence and outcast me. Half of the members of this site need their brain examined.
Click to expand...

don't worry Mr Dante , I think everybody knows you are one of the best traders on trade2win

if it weren't for people like you trade2win would be a waste of time

keep up the good work my friend

(y)
 
  • Like
Reactions: moe
theres nothing hard about trading forex as you can see in my journal, it's all about building a solid trading system, never over trade and only take the trades that have good set-up, there no need to be trading just to be trading this is where a lot of newbie's go wrong, take what the market gives you if nothing there then don't trade, simple as that, good luck to all those think they can make it in forex. i been doing this for six years now so i know and this is how i make my living
 
wallstreet1928 said:
don't worry Mr Dante , I think everybody knows you are one of the best traders on trade2win

if it weren't for people like you trade2win would be a waste of time

keep up the good work my friend

(y)
Click to expand...


x10000

dante is top notch. His contributions to this forum are unbelievable. One of my favourite traders.
 
Hi TD,

Did you catch the eurgbp sell-off the 8830 ppz? Trigger off the hourly IB?
 
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