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u0362565

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u0362565 last won the day on December 18 2021

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  1. Hi there, For me at least it would be useful if it were possible to add drawings to a layer e.g. saving those drawings and being able to toggle them on/off. Similar to what you can do in graphics applications. I use drawings a lot for testing/paper trading and I may use different drawings for different strategies but all on the same chart so they can all get confused. If there could be a way to manage drawings and save them to a layer you could have multiple layers of drawings that you could recall as and when you need them. Thanks
  2. Hi all, I've been playing around with my own trading method which of course is not new and based on well known techniques. What I'm finding is that I consitantly come out break even. My risk/reward ratio is 0.5:1 with a win rate of 66%. Technically I'm losing money due to the fees involved in trading but I find it interesting that i'm even at the break even mark. Although I'm not strictly day trading my trades are on time frames less than days. Perhaps I should compare this to random trading and see if that comes out worse with the same R/R ratio, I would imagine so. All this being said, do you have similar experiences of this and could you/did make changes that tip the balance from break even to profit? Although breakeven is not the aim I'm almost encouraged by the fact I'm not losing money. I have to say also that this is all on demo, so going to a real account may decrease my win rate. I find it hard to believe that when traders start out they just magically go from losing money to making money, there must be a gradual shift from losing to break even to profit. Thaks for the advice
  3. I'll tell you one thing, I wish I'd learnt how to short a market right now! I assume this movement is somewhat to do with whats happening with Ukraine/Russia. It's crashed through multiple 50% levels so is there a point where you say this method no longer works for the conditions at play. For example you can draw 50% levels to your heart's content extending back in time on daily chart swings. If you see enough movement above the level you may decide to trade at least it would somewhat limit the number of trades you were making. Movement of the market back to the high at least if we believe in what has happened historically is a case of when and not if. What is dangerous in my eyes is moves downward that last a long time, like 2008 where it went on for months. If it's relatively quick down and back it's easier to weather e.g. 2020 crash. I am assuming that we are not on a longer term decline but I haven't polished my crystal ball yet this year so not sure
  4. Thanks for the info. I am aware of scaling but I was sort of not considering my question in this way. But it's another way to look at it. I was thinking more along the lines of using a % of account per trade. If you say doubled your account balance you'd then be using more of your balance per trade and could quickly eat into profits taken from the smaller account. Basically I think the answer is if you're not willing to lose money in excess of the profits you've made you shouldn't increase your account balance.. Which means the only way to grow your account further is through taking more profits on the smaller account. However, it must be typical for traders to start with a smaller balance then at some point decide to make it bigger with confidence.
  5. Hi all, I'm not ashamed to admit that I made some classic mistakes when I started trading. One being that my position sizes were way too big for the knowledge I had at the time. I think back on it now and ask what the hell was a I thinking! But hey you live and learn. I now look at the markets and think man this is hard rather than man this is a piece of cake which is weirdly a step in the right direction I think. I then decided to start again with a more sensible account size and position sizing. But I was wondering how others have scaled up their accounts over time as they grow in confidence. One issue is that you build up some profits and consider it market money that in a way doesn't matter if you then lose it but if you suddenly say doubled or tripled your account those profits could be swallowed fairly easily I imagine. 1% per trade of £10k is very different from 1% of £50k for example. Anyone got any thoughts on this. Money sitting around in a savings account is doing nothing for me other than its maintained which of course is by no means guaranteed in the trading world!
  6. Meanwhile the US500 is trying to decide what it's doing. Came through a 50% but seems to have stalled at the daily 20MA. Interesting movements from December, why do I get the feeling it's due a big retracement given its stayed above the weekly 20MA since the 2020 crash. It just can't maintain this. Out of interest do you ever short markets or do you just concentrate on one side. For stock markets being long only might make sense to limit the number of trades and given the positive skew. In currency/commodity markets I guess it's more 50/50.
  7. A 50% level on GBP/USD in progress? Not trading it but looking out for them.
  8. Yeah ok I find the ones that bounce more or less exactly at 50% easier to pick out as this is what has been happening on US500. But I see it can go down through the level then you need to pick it up as it pushes back up through it.
  9. I struggle to see the 50% levels in Forex, at least on daily or weekly time frames. I'm wondering if I'm missing something. Swings cab easily be 100% of the previous or more which makes sense given they range far more.
  10. Yeah I did catch that, I was basically wrapping up for Christmas but thought it was worth a go, got 4+R out of it. As an aside, I was having a look at the performance of an index tracking fund I used to pay into and its up14% for 2021. What I take from this is that last year was a good one for investors given the rebound from the low in April 2020. And to some extent if the markets are trending and you're a long short term trader you should also do ok, that includes using the 50% level method. I suspect if market conditions change the fund will not do so well and the 50% methed also breaks down (I suspect). That's why you need multiple strategies because one won't cut it all the time. I know you've posted a lot more than just the 50% but it's arguably the most beginner friendly.
  11. Thanks again for your posts this year. It's refreshing to see someone talk candidly about their trading methods and it's certainly helped me achieve a 20% return this year. Just a bit better than my bank savings rate.. Of course I could throw all that away but it's a decent cushion and something to work with. Merry Christmas!
  12. Don't touch Forex as a beginner would be my opinion, making sense of something that has no overall direction is hard.
  13. My advice is don't encourage people to day trade. Its a buzz word that every newbie comes across first, but its not how you should start trading in my opinion.
  14. Yeah had fairly tight stop and it was a bit choppy so got knocked out. Uncorrelated methods will work together as you say. 50% levels will work while the trend is still on but when/if that stops so does the method I would imagine and you have to do something different.
  15. I'll certainly be keeping my eye on the 50% level on the strong trend markets. There can be complexities around how/when to enter and I usually need a couple of attempts but the payoff is hopefully worth it still. Still so many ways to screw up of course. I need to think about a backup plan/diversify, don't want all my eggs in one basket. Thanks again.
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