Jump to content

Successful strategy?

Recommended Posts

Posted (edited)

@johnt4917, @nit2wynit, @dmedin,

Different traders can have different strategies and still all be successful depending on how one defines success. A lot of traders define success as having more winning trades than losing trades. 

My strategy incurs at times more losing trades than winning trades. However, the key measurement of how I personally define success is to ensure that the profit from my winning trades is greater than the losses on my losing trades. A consistently profitable trader could be deemed as having a successful trading strategy if this is demonstrated over many years. Some traders who consistently make higher profits than others over many years could be deemed as having a more successful trading strategy.

So if for example I trade 10 times and 7 are losing trades and 3 are winning trades then that is a 70% failure rate and 30% success rate. Now some may deem this as an unsuccessful trading strategy. Now what if the profits on my 30% of winning trades were far greater than the losses on the 70% of my losing trades. If this was achieved consistently over many years then it changes the dynamic of how one thinks about a successful trading strategy. 

Your personality, mind set and psychological approach to trading has a big influence on the type of trading strategy one ends up being more comfortable with and adopting. It is about finding the right trading strategy that suits you (we are all different) and then really fine tuning it to ensure it meets your trading goals and objectives. Once this is understood then one will quickly realise that there is no professional or amateur on IG Community but just traders. Some will be more experienced that others. Some will apply far more complex trading methods and conduct far more technical and challenging analysis. However, this does not mean they are more profitable or are making greater profits than those who are not.

Edited by TrendFollower
  • Like 1

Share this post


Link to post

A list of books on trading strategies with back test studies by reputable traders.

Following the Trend – Andreas Clenow Unholy Grails – Nick Radge Dual Momentum – Gary Antonacci Mean Reversion Trading Systems – Howard Bandy Short-term trading strategies that work – Larry and Cesar Building Reliable Trading Systems – Keith F

courtesy of Raynar Teo.   

Share this post


Link to post

image.png.7e6ee5f3fd824c2b8ec058dcd663e05f.png

amatuer.PNG.5031b99fb356611d51a643af8f3de833.PNG

@TrendFollower, I've just spotted a mistake in your last post but don't worry, I've put my rubber boots on and gone in and fixed it for you.

You're welcome.

Share this post


Link to post

Interesting video by Nick Radge which covers some of the questions raised in this thread.

Firstly it differentiates between quantitative, all the stuff you get from books and courses (which is not covered here) and instead looks at the qualitative, all the stuff that will help you to be successful but is never covered and why books and expensive courses don't really deliver. There is some psychology but it's more to do with what actually happens to a trader and an account over time as opposed to what should be happening.

Recorded at conference in 2012, 1 hour long but there are some good jokes.

  

 

Share this post


Link to post
On 24/05/2019 at 08:35, PandaFace said:

Seriously don’t use demo to test strategy. 

 

I read something similar in a book by Anna Couling, she said that, in addition to it not being real money the demo platform was 'rigged' in such a way to make people falsely believe it's easier to make a profit than it really is.

With regards the first argument I agree it's not real money, but if the second then it's arguably fraud and a serious complaint that should be investigated.

Personally I don't see why you shouldn't test out your first trades in a demo (assuming it works the same as live).  Doesn't matter if it's not real money.  If you lose £5000 in a demo, it's better than losing £5000 of real money, isn't it?

The first ever live bet I placed netted me £100 profit (long on Apple just before the big crash in Sept 2018).  That really was a curse.

Share this post


Link to post
Quote

Cut Losses, Let Profits Run – Why is this So Difficult to Do?

Because price goes up AND down, right?  It never just goes up and never just goes down.  You're nuts if you think there's a 50/50 chance of being right.  It's easier to lose 10 trades in a row than to win 4 out of 10 or whatever.  And just because you set a R:R ratio doesn't mean your winning trades will actually hit the reward target.  If you're candlestick charting on shorter timescales you'll be exiting them anyway when big red warning signs show up.

Don't overanalyse.  A lot of it just comes down to LUCK.

Share this post


Link to post

@dmedin,

I agree with not overanalysing. I do not agree that a lot of it comes down to luck. The more time and effort a trader puts in will increase their chances. If they can devise a sound trading plan, create an effective trading strategy and use a very good trading system, they can increase their chances of success. 

If a trader is able to identify the strongest trending assets. Is then able to trade them in the direction of the trend (not against) and maximise their profits more times than not then this is not luck especially over a number of years. This is then increasing the odds and probability in their favour of executing profitable trades which for me takes a lot of hard work and is not lucky.

Lucky is the gambler who just places a trade on an asset with the hope of making a profit without putting hardly any effort in or any work done to make that trading decision. Luck runs out. How long do you think a lucky traders trading capital would last? The answer is not very long. They would not be able to survive for long. 

  • Thanks 1

Share this post


Link to post
13 hours ago, dmedin said:

I read something similar in a book by Anna Couling, she said that, in addition to it not being real money the demo platform was 'rigged' in such a way to make people falsely believe it's easier to make a profit than it really is.

This is not true, demo platforms aren't designed for clients at all, they are designed to be a test bed for trialing new products for the brokers live platform, what would be the point of doing that on a 'rigged' platform copy. Anne Couling should stick to writing books on volume indicators without adding fake sensationalism to er, help sell her books on volume indicators.

Share this post


Link to post
15 hours ago, dmedin said:

 

I read something similar in a book by Anna Couling, she said that, in addition to it not being real money the demo platform was 'rigged' in such a way to make people falsely believe it's easier to make a profit than it really is.

Rigged? Such paranoia! Maybe with unregulated bucket shops but not the main players...

Share this post


Link to post
16 hours ago, dmedin said:

Cut Losses, Let Profits Run – Why is this So Difficult to Do?

This is a great question because the answer is about market behaviour and so few people ever talk about market behaviour. The same thing happens over and over again you have a great trade then suddenly a spike finds your stop and bounces back in a whipsaw action then runs on for the rest of the day and you miss out yet you were right about the move, it's so common to some degree it happens almost every day. so many people move the stop to protect their trade but that only stops the loss still missing the trade so next thing they remove the stop altogether and that's it, this time there is no whipsaw the market runs and runs against you 20-50-100 points or as much as you can bear until you've had enough and finally stop out, you know what happens next it turns back and runs all the way back to your entry point. The result of this makes people nervous and in the end, they don't trust the market or themselves. The truth is when they were whipsawed out there stop was in the wrong place but their position was right, when the market kept on going it was correcting it's earlier move and it's uncanny how often the point they stop out is the end of the correction and the very point they should be looking at re-entering their position. Then as ever, there is the really big move it starts at 01:00 in the morning and never looks back till 21:00 your sat waiting for that spike back from 08:00 but it never comes and you miss the big one yet again. There is only one answer that is to know your market and its behaviour patterns and to know when to take a profit and when to take a loss. Things happen at certain times of day if you are expecting these moves it helps you keep out of trouble and learn how to cut losses and let those profits run

  • Great! 1

Share this post


Link to post

@Foxy,

Yes indeed.

Learn the asset you are interested in trading. Monitor the price action like a hawk. Make sure you know why the asset's price is moving in a particular direction. Identify patterns and trends throughout the trading hours and establish how the price tends to react at certain times.

For example I have previously commented about how Cryptocurrency prices tend to see big moves over the weekend when it is having its best 10 day period of the year. 

👍

  • Great! 1

Share this post


Link to post

Interesting reading, interesting thoughts, Trend and Casey interesting banter.

Great work @TrendFollower on keeping your word and staying clear of @Caseynotes who seems to love to Troll you.

I been in this group for a couple of weeks and already worked out Casey was hot air blowing about every post before i read this post, but nice to see my thoughts were correct.

I was hoping to find like minded people who worked together in this group and would be happy to share ideas and stories both good and bad so others may learn and every body gains a benefit . The constant pointing to information from Casey seems to prove they have a lot of Bookmarked sites but maybe they dont understand the information? 

@dmedin I found i could make so much more profit in a Demo account than Live trading due to the Demo always letting you buy the trade at the Price on screen, compared to slippage in the Live market, the spread points on buying and selling seem less forgiving in the Demo than Live trading, on that fact alone my proven demo strategy's when i 1st started out have fallen over not allowing for the points difference and costing me in the long run. So i dont agree on that its rigged, its a false sense of security maybe as it plays a little nicer than the real market. I know i tended to play the demo far more risky as it wasnt real money, it wasnt my money, so the emotional thoughts arent as strong and you can be far more flippant in the Demo, making you feel more empowered before the Live system eats u up and spits u out.    

  • Like 2
  • Thanks 1

Share this post


Link to post

Haha, @davidbrister, I've been full time trading with IG since 2012 and full time posting on this forum more or less since it started early 2016. I try to point the way but if you prefer the ramblings of amateurs lifted straight from books that's fine.  

  • Great! 1

Share this post


Link to post
18 hours ago, Caseynotes said:

This is not true, demo platforms aren't designed for clients at all, they are designed to be a test bed for trialing new products for the brokers live platform, what would be the point of doing that on a 'rigged' platform copy. Anne Couling should stick to writing books on volume indicators without adding fake sensationalism to er, help sell her books on volume indicators.

well after your 7 years of trading i find your opinion above bolded no different to amateur ramblings, if there not for clients why do so many offer up Demo programs to their customers?, that doesnt make sense, But i only have 5 years under my belt so i guess u know best.

Share this post


Link to post
Posted (edited)
17 hours ago, PandaFace said:

Rigged? Such paranoia! Maybe with unregulated bucket shops but not the main players...

Anna Couling has multiple books published and a trading programme website, again, if you can get that kind of income from selling books and courses then it would imply trading isn't your main source of income.  Or ... maybe it just means you are obsessed with trading and have no life outside of it :P

Another one is 'How to day trade for a living', where the author tells you to go to his website Bearbulltraders.com and of course, you see that he is has a business which sells training, access to paid chat rooms and such.

Edited by dmedin

Share this post


Link to post
Posted (edited)

@davidbrister,

I incur losses just like any other trader. I will make mistakes just like any other trader. What I have learnt (it is hard) is to accept losses, don't think about them too much and move on. Of course I will evaluate how I could have avoided the loss and what went wrong but I will move on. 

The other thing I have learnt to do is not go overboard or overkill on technical analysis. I use the basic indicators / signals that are relevant to my trading strategy and ignore / avoid the rest. I keep my trading as simple as I can and it has served me well. It may not be perfect but it has served me well. I am still here trading. 

Thanks for your kind words, much appreciated. 👍

Edited by TrendFollower
  • Like 1

Share this post


Link to post
2 hours ago, davidbrister said:

well after your 7 years of trading i find your opinion above bolded no different to amateur ramblings, if there not for clients why do so many offer up Demo programs to their customers?, that doesnt make sense, But i only have 5 years under my belt so i guess u know best.

All platform providers also have a demo platform because they need to test updates and upgrades before release onto the live platform, that is the primary function of the demo. They also allow clients to use it to practice on.

I thought you said you were only trading part time previously, apologies if I got that wrong.

Share this post


Link to post
1 hour ago, dmedin said:

Another one is 'How to day trade for a living', where the author tells you to go to his website Bearbulltraders.com and of course, you see that he is has a business which sells training, access to paid chat rooms and such.

Not seen them before, I used to contribute on Bullbearings and thought that was the same til I just looked it up, only to find they closed down, shame, that was a good trading game and forum.

But yes, they only exist because there is a massive market for it, same reason the scammers exist on insta. Once people realise how hard this really is and how much money they have left they become desperate for shortcuts. I've never recommended any but will reproduce any free educational material they might put out as a taster if it looks to have any value. By the way do you have Anna Coulling's A Complete Guide to Volume Price Analysis

https://www.fx-arabia.com/vb/uploaded/3212_11399310873.pdf

  • Like 1

Share this post


Link to post

A while back I found a book called 'Heart Surgery for Dummies' and thought great, I'll gave that a go. So I studied intently all weekend and found some old people to practice on but it didn't go well, then I found a forum with people discussing heart surgery so I asked them to tell me how to do it. They said it wasn't as simple as that and that there was a learning process that took time. They were clearly prevaricating so I started conjoling and casting aspersions on their proficiency and honesty to get them to open up but blow me if they didn't just get the hump and start returning insults. They didn't realise I was getting desperate as I was down to just two old people a month and getting worried about my state of mind, not only that but I was running out of space to hide the bodies. And all because others are too mean to tell me what to do. Sad.

  • Like 1

Share this post


Link to post

erm... Strategy is Over Rated IMO.

Knowledge is the key defining point.  Of course, Knowledge is the foundation fo strategy, but to focus on the strategy, means to miss out on the knowledge that is required first.  Strategy is secondary to knowledge.  no point having a strategy, if you've no idea what you're doing.!

Do you understand the Instrument, the Platform, your profit Loss, Volatility etc.?  Can you afford to lose?

Psychology is behind all of this.  It's not magic; it's science.  The understanding of what goes on behind the Candle sticks.

I may not be a successful trader; yet.  but I'm not concerned about the supposed time needed to learn, acquire knowledge, fine tune discipline.  It's charts going up and down.  It's News or a catalyst that will help you pre-empt the direction to go in.

I'm astonished by the sheer amount of debate, and argument over something so simple.

Will it go up or down?  Apply your knowledge.  Place your bets.

Share this post


Link to post
6 hours ago, nit2wynit said:

erm... Strategy is Over Rated IMO.

Knowledge is the key defining point.  Of course, Knowledge is the foundation fo strategy, but to focus on the strategy, means to miss out on the knowledge that is required first.  Strategy is secondary to knowledge.  no point having a strategy, if you've no idea what you're doing.!

Do you understand the Instrument, the Platform, your profit Loss, Volatility etc.?  Can you afford to lose?

Psychology is behind all of this.  It's not magic; it's science.  The understanding of what goes on behind the Candle sticks.

I may not be a successful trader; yet.  but I'm not concerned about the supposed time needed to learn, acquire knowledge, fine tune discipline.  It's charts going up and down.  It's News or a catalyst that will help you pre-empt the direction to go in.

I'm astonished by the sheer amount of debate, and argument over something so simple.

Will it go up or down?  Apply your knowledge.  Place your bets.

Yes, that moment when you start to see all the things not previously known is an important step forward. But you are wrong to dismiss strategy because all will come back to that. You might also be wondering as to the wisdom of a lot of the advice being thrown at you, you would be right there.

A lot of peeps talk about strategy without understanding what it really is and so don't really actually have one themselves. A strategy is a cast iron simple set of rules you will always obey for every trade no matter what.

Find a strategy that works, validate it, do it.

When A then B then C happen I will always enter, when D or E happen I will always exit. You know this will not work for every trade but you have validated it so you know it works with enough percentage and risk/reward to be profitable over many trades. When you know this it takes all the excitement out of trading, which is a good thing.

Finding a strategy that suits your style then testing it to prove it works for you takes time. Think simple, for example, in a trending market an MA crossover after a pullback signalling trend continuation using a bracket order (entry, stop loss and take profit) that gives a 1:2 risk reward. Really - that simple, you can get fancy when later but not to begin with.

Until you have a working strategy you have nothing.  

 

 

Share this post


Link to post

@Caseynotes I think my point was missed.

Yes i agree with everything you've posted above, but a Strategy is Secondary to Sound Knowledge.  

Only AFTER you have Sound Knowledge can you form a Strategy.  My point being, if you try to form a Strategy BEFORE you understand the machine, it will likely fail.  Therefore the importance of a Strategy can only be referred to as the Final Stage AFTER you understand your own question and knowledge.

To make my point more clear moving forward, the question of Strategy might better be served if it was like this:

'Don't form a strategy until your knowledge is sound.'  
Your greatest asset is your understanding of what you want to achieve and how to achieve it.  This relates to anything and everything in life.   A strategy will be formed afterwards.  It could simply be realised as saying: 
'Right, I've learned what it is i want to achieve, now I will create an action plan of how to achieve it.  Although this appears to be 2 questions, it's actually only one Plan.  It just has 2 parts.

A Strategy is the very last thing to do.

In direct relation to the Question itself, I find it a Moot Point.  It's kind of like saying:  I've decided what I want to eat, now I must eat it.  It's all part of the same pie;  What do i want to achieve?  How do I achieve it?.

 

Share this post


Link to post

@davidbrister re. the Demo, I've actually read it a few times that the Demo account is a Testing Platform to be used for improvements, so @Caseynotes may be correct on this point.  

You're correct about the psychology of Demo Trading.  I failed too when I went live, but i failed for a simple reason;  I didn't adjust my Stake and Stop Losses for a smaller account.  However i didn't find any other difference from Demo to Live.  In fact i went Live simply to see if there was a difference.  It's possible it was so slight I didn't notice.

Share this post


Link to post
25 minutes ago, nit2wynit said:

@Caseynotes I think my point was missed.

Yes i agree with everything you've posted above, but a Strategy is Secondary to Sound Knowledge.  

Only AFTER you have Sound Knowledge can you form a Strategy.  My point being, if you try to form a Strategy BEFORE you understand the machine, it will likely fail.  Therefore the importance of a Strategy can only be referred to as the Final Stage AFTER you understand your own question and knowledge.

To make my point more clear moving forward, the question of Strategy might better be served if it was like this:

'Don't form a strategy until your knowledge is sound.'  
Your greatest asset is your understanding of what you want to achieve and how to achieve it.  This relates to anything and everything in life.   A strategy will be formed afterwards.  It could simply be realised as saying: 
'Right, I've learned what it is i want to achieve, now I will create an action plan of how to achieve it.  Although this appears to be 2 questions, it's actually only one Plan.  It just has 2 parts.

A Strategy is the very last thing to do.

In direct relation to the Question itself, I find it a Moot Point.  It's kind of like saying:  I've decided what I want to eat, now I must eat it.  It's all part of the same pie;  What do i want to achieve?  How do I achieve it?.

 

Nope, you can choose a strategy off the shelf to test, there are lots of them. If you wait to know everything first you'll be waiting forever. The strategy itself should be very simple. The plan is simply to indicate when to apply the strategy. So looking at the chart I see we are in a range but my strategy depends on a trend so my plan is to wait for the market to start trending and then to look for an opportunity to apply my strategy.

Yes there is lots of stuff to learn that will help fine tune your trading but stick the basic stuff first;

So the other stuff includes;

what does the chart structure look like, are there good S&R levels, where is a good place for the stop, where would opposing pressure come in, is the price action clean or choppy, is volatility and volume increasing or decreasing, where might traders get trapped, what are sidelined traders thinking, where might they enter, where will losers cut their losses.

Yes all this stuff will help refine your trading but it will not in the end decide whether your strategy will basically work for you or not.

Find a selection of strategies that fit the time frame charts you want to use and start testing.

Find a strategy that works (one that others have made work will do fine), validate it (prove it will work for you if you stick to the rules), do it.

 

Share this post


Link to post

@Caseynotes you're agreeing with me..........I'm not sure why the Back and Forth :D  This below is Prior Knowledge.  You need this before you apply a Strategy, OR Buy Off the Shelf.

'what does the chart structure look like, are there good S&R levels, where is a good place for the stop, where would opposing pressure come in, is the price action clean or choppy, is volatility and volume increasing or decreasing, where might traders get trapped, what are sidelined traders thinking, where might they enter, where will losers cut their losses.'

Sure you can pick a Strategy Off the Shelf without prior knowledge.  But will you even understand it? You simply must have knowledge of the process first.

The ability to Buy a working Strategy is not what the post is about.

The context of the question is 'Share with me your winning strategy?' 

I've won 3 trades on the demo for £47 in a few minutes.  I only placed 3 trades.  I went to make coffee.  I played for small profits on each. £20 £20 and £7

This was a strategy, but I could only apply it after I've acquired the knowledge to understand what I'm looking at.  This was knowledge in action.  My Strategy was based upon what I know and understand.  I couldn't apply any kind of strategy if i didn't even know what I wanted to achieve.  It's clear that most in here don't Day Trade.  To some it even appears counter productive or Alien.  To me, it's all I know.



It all comes under the umbrella of 'Trading'.  It's an accumulation of knowledge.  To split it in to parts and suppose each is separate is counter productive.

I'm no longer sure what the post is even about haha. :D

I've never suggested to Not have a Strategy.  I said it was based upon what you actually know first and that it was secondary to gained knowledge.  Therefore the importance of a Strategy is limited to your understanding and can fail because of ignorance.  Strategy is the last thing to form after prior learning.


My strategy is so simple and so quick, but it requires a certain mindset and knowledge that is not suited to all.

I could share my Strategy, I have no problem doing so, but unless the OP even understand what they want to achieve, it most likely won't make sense.





 

 

Share this post


Link to post

 

27 minutes ago, nit2wynit said:

@Caseynotes you're agreeing with me..........I'm not sure why the Back and Forth :D  This below is Prior Knowledge.  You need this before you apply a Strategy, OR Buy Off the Shelf.

'what does the chart structure look like, are there good S&R levels, where is a good place for the stop, where would opposing pressure come in, is the price action clean or choppy, is volatility and volume increasing or decreasing, where might traders get trapped, what are sidelined traders thinking, where might they enter, where will losers cut their losses.'

Sure you can pick a Strategy Off the Shelf without prior knowledge.  But will you even understand it? You simply must have knowledge of the process first.

The ability to Buy a working Strategy is not what the post is about.

The context of the question is 'Share with me your winning strategy?' 

I've won 3 trades on the demo for £47 in a few minutes.  I only placed 3 trades.  I went to make coffee.  I played for small profits on each. £20 £20 and £7

This was a strategy, but I could only apply it after I've acquired the knowledge to understand what I'm looking at.  This was knowledge in action.  My Strategy was based upon what I know and understand.  I couldn't apply any kind of strategy if i didn't even know what I wanted to achieve.  It's clear that most in here don't Day Trade.  To some it even appears counter productive or Alien.  To me, it's all I know.



It all comes under the umbrella of 'Trading'.  It's an accumulation of knowledge.  To split it in to parts and suppose each is separate is counter productive.

I'm no longer sure what the post is even about haha. :D

I've never suggested to Not have a Strategy.  I said it was based upon what you actually know first and that it was secondary to gained knowledge.  Therefore the importance of a Strategy is limited to your understanding and can fail because of ignorance.  Strategy is the last thing to form after prior learning.


My strategy is so simple and so quick, but it requires a certain mindset and knowledge that is not suited to all.

I could share my Strategy, I have no problem doing so, but unless the OP even understand what they want to achieve, it most likely won't make sense.





 

 

It's more of a case of being able to stick to the rules than having years of experience but people often need years of experience to learn to stick to the rules if you have a validated strategy 🙂

Below is a pic of a very simple MA cross strategy (the dots indicate a crossover), say only take shorts on red dots below the sma and only take longs on green dots above the sma, with a stop behind the most recent high/low just before the entry signal and a take profit at 1:2 risk:reward.

This is as simple as you can get and would have made money on today's dax M1 chart without knowing anything else.

Find a strategy that works, validate it, do it (stick to the rules).

image.thumb.png.14076474f6a8dc6931089315266d0f8e.png

  • Like 1

Share this post


Link to post

To the OP. @johnt4917

My strategy is Easy.  Though I'm on demo for now.

Regardless of account size, i work the equation of Stake vs Stop Loss vs Profit, based upon Points moved within a 5 minute time limit.  I often find or look for Consolidation points and place makers for Support and Resistance and play within those moves.
1733500978_4winningtrades.Nolosses..thumb.jpg.0d0b796631fc8fe45132778d1cd7d590.jpg
I'm happy to answer any other question if you want to try it out.  My plan is to Day Trade and make £200 per day.  I hope to achieve this by applying several trades throughout a 4 hour period and taking smaller profit from £10 upwards.  My stop loss is never more than £25 and I'll usually never allow it to go that far especially if I'm in front of the screen.   

This is my strategy based upon the cost to Share Deal vs SB.  I never want to risk much more than I would if I had simply bought shares and sold them.  The price to buy shares is around £10.  Therefore I SB and try to keep my losses to the cost of Share dealing.

Share this post


Link to post

I probably won't be doing any more today as have a few things to take care of.  I can often trade like this.  But i can't afford to take my eyes off the screen.  I will do this every day.  Longer goals is to Trades Shares directly as the more I add to my account the great the cost to the stake and potential greater losses.  Buying shares directly and controlling my Stops will prove more advantageous dealing Shares I think.

Trades.thumb.jpg.4149fcb472e889bf9b95b74c153c3015.jpg

Share this post


Link to post

Right, for those interested this is a typical day of late.

You'll notice the Red boxes and the Blue.  The Red boxes are actually real Fails.  The Blue Boxes are me Proving Fails.  What I mean is I set up trades to prove the reasoning they can and will go the other way and that returning after a long day is not wise.   Ironically the £10 in between the 2 Red boxes was not a win but a Fail because i expected it to go Down instead of up.  So chalk the £10 win to a Fail.  You can see around 4pm that i got out of 2 trades that clearly showed me I may have read it all wrong but luckily managed 2 small profits.  Then I set out to prove the fails.  I would not normally allow them to reach -£20.  Having convinced myself I knew what i was reading after I corrected myself, i waited for the anticipated drop.  I was pretty sure in my thinking that the FTSE was going to drop by the end of the day.  It clearly did in the last few mins.  this was done using a simulated 2k account.  The margin was around £1800.

Adding up the figure below will give a Net Profit of £70.  However, if i add, or remove the Proof Fails it's around £170.

583012892_TypicalTradingDayexample.thumb.jpg.39cbc8a423179e4ed8ac56a807509a71.jpg

Share this post


Link to post

@nit2wynit those 5 x $20 loss's at the end suck big time, they spoil what was shaping up to be a good day, you did well to claw some of it backup with the next 3 wins, but im sure you felt a tonne of pressure  in that 20 mins period

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×