K.I.S.S. Trading GBP/USD

If a 29% increase in account size = 73 pips then to me the total account cannot be larger than the equivalent of 250 pips,
ie 73/29 x 100 = 250

So that would mean 1 pip in percent = 1/250 x100 = 0.4%

Or have I misunderstood something ?
 
DowJones said:
trader333 & tar are entirely correct.

Mr Fox is saying that his risk is equivalent to 0.4% of a/c per pip, and that he's risking 2%/trade (ie 5 pip SL) on cable and making circa 20%/day (LOL).

Mathematically we can also work out that Mr Fox has returns of circa 100%/wk or 5000%pa. Assuming he invested just £10k into his account, his account growth is as follows:
Yr1 £0.5 million
Yr2 £25 million
Yr3 £1.25 billion
Yr4 £62.5 billion
Yr5 £3 trillion 125 billion and some pennies

Also his risk of ruin is 100%, but I won't bore you with that, because no one loses on t2w. Oh, and HMRC will be visiting this thread, because by taxing the above, the entire UK national debt can be paid off, with plenty to spare. Jesus wept...
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Nice one DJ - lol

But you know it cannot continue if he tries to compound as the rule of the market and diminishing returns on size - ie once over 50+ lots it all changes as far as I am concerned - different ballgame entirely

But if he stayed under 10 lots and kept taking profits out every 2 -4 weeks - no problem if he can keep the performance up day after day and week after week

Oh and what 90% think spreadbetting is tax free for all and sundry - even if you are full time and paying no other form of tax - so the HMRC cannot have Mr Fox's millions - ( but I know otherwise and I am sure you do :) )

Come and do some scalping and compete with Tar's daily targets on FX if you want some fun ;-)

Regards

F
 
DowJones said:
Actually F the above isn't compounding - it's linear growth !

And if he traded a 10-lot, (without compounding) his position sizing would mean he'd only need a £25k account (which is modest for a pro trader). At which point he'd be making £5k/day, or £25k/wk, or £1.2m pa. :whistling
Click to expand...

Back in 2008 /9 when I was trading over 10 lots per pip ( and yes with a spreadbetter GFT uk ) I had months of $30 - 45K on a peak $200k account . I never lasted over 4 months and then was totally out psyched after trying over £150 per pips ( over 22 lots ) because It was my own money and could not cope with seeing losses of $2 - 4K on a batch of 4 + consecutive losses.

So the idea of £100k ( pounds not dollars) per month is a total different ballgame and having a bad streak and seeing say £8k - 10k wiped off in a morning is outside the realms of most retail traders using their own money. Of course its not if you have already had a few months earning over say £50 +k and have balls of steel and a big gambling mentality - thankfully - I have neither :))
 
Whern people start talking about porcentages and profit it is a reminder , to me, that it is BS.

Bull**** baffles brains. I confess that these recent pages would have baffled me if I had wanted to understand them but, since I have heard it all before, I've skipped.

Let's get back on topic.
 
Forexmospherian said:
. . .Oh and what 90% think spreadbetting is tax free for all and sundry - even if you are full time and paying no other form of tax - so the HMRC cannot have Mr Fox's millions - ( but I know otherwise and I am sure you do :) )
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FoMo,
It's usual for someone who claims to 'know' something to back up their assertion with evidence and facts. That you have failed so lamentably to provide either suggests to me that you don't 'know' half as much as you think you do or that you'd have us all believe!
:LOL:
 
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timsk said:
FoMo,
It's usual for someone who claims to 'know' something to back up their assertion with evidence and facts. That you have failed so lamentably to provide either suggests to me that you don't 'know' half as much as you think you do or that you'd have us all believe!
:LOL:
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Morning timsk

When you get to my age in life - and gone through the experiences I have - then you will understand more about things not clearly being "black or white"

As with trading - which is certainly not black or white - and therefore you can never be 100% correct with a decision or statement on a constant basis

With spreadbetting - its exactly the same - its not black or white but what I have 100% faith in with the verbal information I have gathered via the top 5 accountancy companies - and all of them state - if you are not paying any form of taxation from any current earnings - you will not be eligible to retain your "winnings" from spread betting as being "tax free" - especially if its your main form of regular income

Pure Fact - and I look forward to someone proving me wrong - but still need to give your concrete evidence in the proper thread

Obviously all the spreadbetter traders who do pay tax from their regular income that is not regarded as gambling - or an "illegal" activity will have no problem - but they will do if they are also behind with their own tax affairs and maybe still owe the HMRC any back tax etc etc


Regards

F
 
Have the HMRC taken a spredbettor to court of this matter and won a case ? If not then there's an argument against it.
 
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Forexmospherian said:
When you get to my age in life - and gone through the experiences I have - then you will understand more about things not clearly being "black or white". . .
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Humble apologies guru FoMo.
At 55, I am still young compared to you great master, and I am very naïve, immature and know so little of this world. Thank you for bestowing such great teachings upon me, so that one day, I might be as wise and as all knowing as you.
:rolleyes:
 
timsk said:
Humble apologies guru FoMo.
At 55, I am still young compared to you great master, and I am very naïve, immature and know so little of this world. Thank you for bestowing such great teachings upon me, so that one day, I might be as wise and as all knowing as you.
:rolleyes:
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LOL

Now I imagined you were mid 40's
 
DowJones said:
What's so hard to understand about the fact that anyone who thinks they're consistently making 20% per day is deluded?

As tar said, it's simple maths.
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If it is that simple, why have all these pages been written about OP's porcentage calculations? If I was to say that 2+2 made 4, as sure as hell there would be someone to dispute it.
 
ffsear said:
However, my other question is this.. You made 73 pips, but that you did over 10 trades. So could it not be expressed that you risked 20% (each trade a 2% risk) of your capital to make 29% ?
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Good Morning Charlie, @ffsear

I hope you are having a pleasant day trading.

Yes you could see it like that, however that would be the initial trade entry criteria, after that the variables change, as some stops are zero'd right away, some are moved slightly higher etc etc.

What you have written does look quite atrocious in hindsight, but at the start of each day I am unaware what the day will hold, but my initial focus to the end of the trading day is, to get my 40 pips.

I would also say that not every day will be like this, some may be worse, others better, and as long as I hit my daily target, however hard I have battled to get them, that all that matters, although I would prefer it if every day was an easy day like today.

Best
John
 
Trader333 said:
If a 29% increase in account size = 73 pips then to me the total account cannot be larger than the equivalent of 250 pips,
ie 73/29 x 100 = 250

So that would mean 1 pip in percent = 1/250 x100 = 0.4%

Or have I misunderstood something ?
Click to expand...

Good Morning @Trader333,

Yes that is correct, however one has to also calculate in that a margin call will be received before a 250 pip draw down would close the account.

Best
John
 
Good Morning All,

I had quite a late night, and thus a late start. I had thought if I was too ill, I wouldn't trade however I felt OK this morning.

I have read through the posts this morning, and answered, and I thought I'd do that before posting today's results.

One thing I will say is, I am not great at multi-tasking, and when I am at my workstation my only priority is to make money, so all replies, e mails, and phone calls will wait till I have finished trading, and now trading is finished, thus I can reply.

Well it has been a very profitable morning.

I traded a break of S&R level, as seen below. Now this was a very risky trade, as its news time, and I fully accept that some slippage/spread widening will occur, and I was filled below my entry.

Price capitulated, and I bagged 50.5 pips. I shall not post percentage returns from this day forth, just the pips and chart explanations.

£ 3.6.15A.png

Have a great day trading Y'all.

Best
John
 
No, don't make it easy. I've had enough of easy maths for this morning, thanks very much. It seems to be beyond people's capacity, on this thread, to make anything easy.

All I want to know is what Mr Fox's tactics are. My profit and porcentages, I am quite capable of working out for myself.
 
DowJones said:
Are you serious? Because a few people have written multiple posts, you believe that somehow invalidates basic maths and common sense? :cry:

Tell you what, let's make this easy. If some retail posters think they are consistently making 20%/day, how about we some evidence. I won't hold my breath.
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Hi DJ

Well Major Magnum could show you that on a live 1k account - even with stake sizes under 2% - in fact drawdown is minimal because of how he trades with the part stakes with stops in profit.

But I am sure he will the first too admit - like me - that 20% a day is just not sustainable on any retail account if you keep you profits in it and stay with the same stake percentage on all new trades over the weeks and months following

Also to maintain an average 20% day in day out is difficult with even small accounts - and you need at least 4 hrs a day scalping at the peak trading times

No matter how good your method is - its normally you and your mindset which will cause the problem and then it can be just like a deck of cards - and all falls down

Reality is I am happy with 20%+ per month ongoing with no compounding - never mind trying for 20% a day for 20 days a month - but thats on a decent size account - on accounts under say $2-3k I would try for far higher

Its only been a few months since I was commenting on if 30% per annum is good? and now we are on about 20% a day - amazing

I am sure you could do 20% a day if you tried on a small account - but for how many days - that would be the question

Regards

F
 
Splitlink said:
No, don't make it easy. I've had enough of easy maths for this morning, thanks very much. It seems to be beyond people's capacity, on this thread, to make anything easy.

All I want to know is what Mr Fox's tactics are. My profit and porcentages, I am quite capable of working out for myself.
Click to expand...

These porcentages you talk about, are they related to percentages in any way?
 
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