Took out a loan to transition to full-time trading. 24 years old.

Chartsy

Well-known member
May 12, 2010
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Don't get me wrong I think discretionary traders should always have a sliding scale of risk: scale your risk to the conviction in the trade .

Imo that should still be small like from 1-3% , not like risk 50 quid one trade then 320 then next .

You also have to try work out your trade frequency . Are you taking 50 trades a day and maybe expect to lose 10 of those ? Probably makes sense to risk much less per trade in those circumstances so expected drawdown isn't huge .

Or are you a position trader taking 10 trades a year , maybe expecting to lose 3-4 ? Best to risk more per trade .
And so on etc
 

Chartsy

Well-known member
May 12, 2010
1,129
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Wabu you should go back to demo . Plus I recommend you work out your theoretical gain/loss if you stuck to a flat risk per trade . That would eliminate your problems
 

David Knight

Active member
Aug 20, 2017
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25 yrs experience as a trader and yet you seem to have just picked a random thread to post a wanted ad for a trading partner ???
Originally Posted by Cyberraul

Hi, My name is Ray , you din't say what vehicles your are looking to trade, I trade mostly futures and have been doing so for 25 years ! It a very exciting but demanding field
How much time do you have available, would you be willing to take turns watching the mkt during evening hours . ET ?


He gave himself away with that line.
 
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Kaeso

Active member
Oct 4, 2015
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Originally Posted by Cyberraul

Hi, My name is Ray , you din't say what vehicles your are looking to trade, I trade mostly futures and have been doing so for 25 years ! It a very exciting but demanding field
How much time do you have available, would you be willing to take turns watching the mkt during evening hours . ET ?


He gave himself away with that line.

how was this line such a giveaway? i just thought the whole message was daft e.g. posted in a random thread
 

Lee Shepherd

Well-known member
Feb 12, 2008
2,165
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Honestly, if my trading experience, i dont understand what kind of maths doing here...

No one should trading if acurancy is nor more than 80%...
Only my opinion....

:)
I seem to be following you around today. I'm not harassing you honestly!!!. That's my opinion. :) Although you are sharing many strong opinions back and within a very short time frame - ie, 15 posts within 24 hours - so it's not surprising you are getting responses. Some may argue that you are looking for subs and is why the somewhat heavy self promotion and youtube links. Of course I wouldn't say that, it's just other peoples opinions - in my opinion. #think I've overused that word for today.



Accuracy being over 80% as you put it is not necessary - and not normal. I know many traders - and when i use the term traders, I mean traders - that have ratio's well below 50% and still make money consistently.

Lee
 
Likes: Kaeso

Kaeso

Active member
Oct 4, 2015
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btw I have recently tried an IB account and so am now familiar with how their platform (TWS) looks. @wabu27 was always using a live account and the daily P/L you could see as a red or green rectangle, plus portfolio of positions tab etc, cannot be faked. A demo account is clearly indicated as such at the top of the window and the account number would start with a "D" not a "U". The reason he was switching to investing.com charts (cfd feed) was the IB market data is delayed 15min and he hadn't subscribed to live data for a few dollars per month.. (amateur hour!). Yes it was all genuinely a foolish attempt at the leverage abuse click n pray :cry:

hope you doing ok wabu.. hope you learned your lesson ;)

 
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wabu27

Active member
Apr 13, 2016
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Happy 2019. Hopefully a profitable 2019!

Oh man, I have so many changes in my life but the bottom-line is the same: I'm going to get rich trading stocks or die trying.

Going to start trading live again starting next Monday, January 14th,2019.

I will also post a daily short summary of what had happened. This time, I'm going to limit my responses to people giving me feedback but will be reading all(most?) the comments. Please tune in and see how my account does in 2019 :) Happy New Year everybody.
 
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Pat494

Well-known member
Mar 27, 2004
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Full marks for persistence BUT you have been going more than 3 years now ?
Not still on borrowed money hopefully.
 

Kaeso

Active member
Oct 4, 2015
862
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38
Happy 2019. Hopefully a profitable 2019!

Oh man, I have so many changes in my life but the bottom-line is the same: I'm going to get rich trading stocks or die trying.

Going to start trading live again starting next Monday, January 14th,2019.

I will also post a daily short summary of what had happened. This time, I'm going to limit my responses to people giving me feedback but will be reading all(most?) the comments. Please tune in and see how my account does in 2019 :) Happy New Year everybody.
hi wabu good to hear from you i hope you are well. i look forward to your 2019 trading :)
 

wabu27

Active member
Apr 13, 2016
108
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I was up more than $300 in beginning. Trading okay. Than lost all of it. Failed to see loss of strength. Stubborn. LOL. 1 day of live trading and I'm done already because the minimum needed to trade 1 crude oil futures increased from $2900 to $3280 and I ended up at like $3180. GG. Will be back in february.
 

Pat494

Well-known member
Mar 27, 2004
13,135
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What a clueless clown.
Oh dear . As they say one is born every minute.
Sorry wabu but you need a nanny to look after you.
 

NVP

Well-known member
Jun 21, 2004
35,851
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west sussex, UK
fxcorrelator.com
Honestly, if my trading experience, i dont understand what kind of maths doing here...

No one should trading if acurancy is nor more than 80%...
Only my opinion....

:)

80% win rate is pretty good trading dude......very hard to do consistently .........if i get a decent market session with good volatility and some trending currencies its achievable ...otherwise its hard to hit in a more choppy session

like this morning where i'm scoring high % win rate......but thats because europeans were weak and yen and USd were both strong....easy easy market

N