(binned per thread starter's request) I give up | Metals Mine

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(binned per thread starter's request) I give up

  • #1
  • First Post: Jun 12, 2018 2:53pm Jun 12, 2018 2:53pm
there were bugs in my eas and other things that I didn't calculate.

We must act like machines otherwise ... MUERTE.

I made some serious trading mistakes in the last days.......if I can recover fine otherwise I'll have to make a new (smaller) deposit.

I have a big problem with losses. I felt totally hopeless until I found a way to trick my mind into thinking that I'm not trading, therefore I'm not losing.

Simply give up and forget trading... but keep the computer running. LOL

It works for me at least.

Anyways I trade low frequency, and 4% to 6% risk/ trade is doable but the maximum considering slippage.


I also created four demo accounts (2 systems, 2 brokers) to record the performance with a more conservative approach, risk 2% trade.

Right now I use only one broker but I plan to open an account with IG, from what I understand they'll introduce NBP in august. I use max 1:15 but my risk tolerance is quite low.

also two brokers is better than one
what if one goes bankrupt or doesn't want you to withdraw ? think about it.

Not sure if I'm going to publish my stats... I'm just bored right now hence why I created this thread.
  • #2
  • Jun 14, 2018 4:09pm Jun 14, 2018 4:09pm
why demo is so easy ?

our unconcious can believe tha global warming is normal.. but it will never accept a loss.
probably because losses are very tangible. like a lion coming at you....lol


No big deal.. we can trick the mind so easily, as I said it is dumb as f**k.


hope it makes sense hahahaha
  • #3
  • Jun 26, 2018 3:49pm Jun 26, 2018 3:49pm
what to say AND what NOT to say-- both are important!
I really want to say something valuable... but without emotional garbage and especially without revealing too much about my system(s).
Real traders like to work hard to find something that works.
if somebody tells me "give me your system, take my money", I tell him/her: no way!
Not a single day in my life I had no money in my pocket... even though I'm not a super hard worker or a drug dealer haha

I believe in karma. therefore if I tell people to backtest and to look at statistical data before making any decision I'm helping myself. But if I give them a piece of code I would be an idiot, as already demonstrated.
In other words I don't care what you do.
So I'll just share my mistakes, because if you're like me you'll love yourself even more because nobody is perfect... we have much of this and little of that.
  • #4
  • Jun 26, 2018 7:35pm Jun 26, 2018 7:35pm
If you can't take the loss my best advice is to cut size up to point where you can handle loosing.
When you see it, BET big.
  • #5
  • Jun 27, 2018 4:04am Jun 27, 2018 4:04am
Quoting Rennaissance
If you can't take the loss my best advice is to cut size up to point where you can handle loosing.


That is precisely what I'm considering now. If I risk 4%/ trade my DD would be immense. let's say that I make 3000% in 3 years to then go BACK to 100%...what ??

DD should be definitely kept below 40%. Also building a nice trackrecord isn't a bad idea for future projects.

I started a Pamm years ago with DD in mind and everything was fine until I raised the risk per trade.

Hence the "fear of losing" is not the problem per se, greed is.
  • #6
  • Jun 27, 2018 6:50am Jun 27, 2018 6:50am
I came to the point where everything makes sense!


if we look at my previous posts I was contraddicting myself each time hahaha

Sorry if I confused you but this is how it is..needed to practice some more to get rid of the stuff that was blinding me. Thanks to my karma I made relatively small deposits.

We'll see if I don't feel chased by lions anymore... if I do then I'll repeat the mantra "it's just a demo, it's just a demo": so silly but it works lol



Goodbye
  • #7
  • Jun 27, 2018 6:54am Jun 27, 2018 6:54am
Bro,

make sure your EAs do not fall victim to THIS:

https://www.forexfactory.com/showthread.php?t=768090

Stay safe,
FF
www.sme-fx.com
  • #8
  • Jun 27, 2018 7:32am Jun 27, 2018 7:32am
Quoting FractalFreak
Bro, make sure your EAs do not fall victim to THIS: https://www.forexfactory.com/showthread.php?t=768090 Stay safe, FF
I don't care, it's just a demo....
  • #9
  • Jun 27, 2018 4:39pm Jun 27, 2018 4:39pm
Quoting HeyYou
I came to the point where everything makes sense! if we look at my previous posts I was contraddicting myself each time hahaha Sorry if I confused you but this is how it is..needed to practice some more to get rid of the stuff that was blinding me. Thanks to my karma I made relatively small deposits. We'll see if I don't feel chased by lions anymore... if I do then I'll repeat the mantra "it's just a demo, it's just a demo": so silly but it works lol Goodbye
Under trade, under trade, under trade. Trade 1% per trade, stop focusing on the upside. Focus on the downside, focus on not losing money.
When you see it, BET big.
  • #10
  • Jun 28, 2018 12:19pm Jun 28, 2018 12:19pm
Quoting Rennaissance
{quote} Under trade, under trade, under trade. Trade 1% per trade, stop focusing on the upside. Focus on the downside, focus on not losing money.

I appreciate that someone takes this seriously. IT'S NOT EASY..

Totally agree. people here focus only on profits and I guess that was partially my problem.. especially in the last 2 years, when I started taking trading forums seriously.


Don't get me wrong.. gambling is perfectly ok, I'm not a bigot or anything like that.. infact I started this journey as a gambler... but JESUS CHRIST, do it with a couple bucks....


Anyways, I don't care what people do anymore. My journal will be the only page I view on FF.


Oh 1%/trade, that would be too little considering a couple things:

1 I use a diversified portfolio of systems that gives less volatility to my returns. I plan to risk from 1.5% to 2.5% depending on the frequency of trades, which is low.
2 my account is small.

no excuses, just reality. thanks for your contribution much appreciated
  • #11
  • Jun 29, 2018 8:18am Jun 29, 2018 8:18am
Quoting HeyYou
{quote} I appreciate that someone takes this seriously. IT'S NOT EASY.. Totally agree. people here focus only on profits and I guess that was partially my problem.. especially in the last 2 years, when I started taking trading forums seriously. Don't get me wrong.. gambling is perfectly ok, I'm not a bigot or anything like that.. infact I started this journey as a gambler... but JESUS CHRIST, do it with a couple bucks.... Anyways, I don't care what people do anymore. My journal will be the only page I view on FF. Oh 1%/trade, that would...
A small account growing is better than a small account that went burst. For a start keep your drawdowns below 10%, I had the same excuses like you, my account is too small,etc. Trade small cause even when trading poorly you won't loose alot of money.
When you see it, BET big.
  • #12
  • Jun 29, 2018 12:00pm Jun 29, 2018 12:00pm
10%????
who am I... a magician ? hahahaha


backtest shows max 35% (I double the average spread). SInce I experience slippage I calculated 40% but of course I cannot be precise.

if we look at the alpari's pamm list this kind of dd is acceptable. there's even someone with 70% dd among the long term survivors.
  • #13
  • Jul 3, 2018 12:49pm Jul 3, 2018 12:49pm
I had some requests in the past, so this is going to be interesting to see how backtesting reflects live trading.


what a mess! since the beginning of 2018 I traded like a s**t lmao worse than a 3 years old kid!!

I lost my mind searching for the "perfekt broker". there's none so we have to diversify among two or more.

FXBLUE STATS:

broker 1 (https://www.fxblue.com/users/broker1)
broker 2 stats will be published as the wire transfer arrives

both will be affected by the new leverage restrictions, but 1:20 is more than enough.


So I'll treat them like demos... or in other words I don't give a f**k, cause when I don't give a f**k I'm a master hahahaha!
  • #14
  • Jul 3, 2018 1:28pm Jul 3, 2018 1:28pm
Quoting Rennaissance
{quote} Under trade, under trade, under trade. Trade 1% per trade, stop focusing on the upside. Focus on the downside, focus on not losing money.
Thank you for this.

One of my favorite trading books, The Adam Theory Of Markets or What Matters Is Profits, by J. Wells Wilder Jr. has a section on visualization. One of them is:

[9] To Under trade both in size and frequency.
Picture: Holding a position and feel extremely relaxed and comfortable about it. (And I would add) Seeing yourself by-pass on set-ups that barley meet your requirements for set-ups where there is no doubt they meet the requirements.

I'd forgotten about this lately. So thank you for reminding me.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #15
  • Jul 3, 2018 2:34pm Jul 3, 2018 2:34pm
Quoting HiddenGap
{quote} Thank you for this. One of my favorite trading books, The Adam Theory Of Markets or What Matters Is Profits, by J. Wells Wilder Jr. has a section on visualization. One of them is: [9] To Under trade both in size and frequency. Picture: Holding a position and feel extremely relaxed and comfortable about it. (And I would add) Seeing yourself by-pass on set-ups that barley meet your requirements for set-ups where there is no doubt they meet the requirements. I'd forgotten about this lately. So thank you for reminding me.

thanks for confusing me with theoretical knowledge typical of demo queens.


I don't give a f**k about books, never read one and I have no intention to start now. no offence.
  • #16
  • Jul 3, 2018 2:49pm Jul 3, 2018 2:49pm
"I have been impressed with the urgency of doing. Knowing is not enough; we must apply. Being willing is not enough; we must do."

This is one of my fav :

"I love those who can smile in trouble, who can gather strength from distress, and grow brave by reflection. 'Tis the business of little minds to shrink, but they whose heart is firm, and whose conscience approves their conduct, will pursue their principles unto death."


Read more at: https://www.brainyquote.com/authors/leonardo_da_vinci
  • #17
  • Jul 3, 2018 5:13pm Jul 3, 2018 5:13pm
Quoting HeyYou
10%???? who am I... a magician ? hahahaha backtest shows max 35% (I double the average spread). SInce I experience slippage I calculated 40% but of course I cannot be precise. if we look at the alpari's pamm list this kind of dd is acceptable. there's even someone with 70% dd among the long term survivors.
Take a look at my 18 years backtest result
https://www.forexfactory.com/showthread.php?t=785990

My suggestions to you

  1. If your backtest result survives 3 years, try extending it to 10 and then to 18 years. You will see the difference. It is very hard and difficult to survive 18 years but this will force you to further improve your system.
  2. Even when my DD is 30% with 3% risk for 18 years backtest, I have decided to cut it down to 1.5%. In engineering terms, this is called safety factor. If your system is earning money, it's ok to earn less but with a peace of mind.
  3. Always focus to continuous improvement even you have the best system in the world. Always question yourself why is it working, when will it not be working, how can I make it better.

I know this journey is very difficult and it takes a lot of hard work.
For me, personally I have spent 10 years manually trading before coming up with my holy grail.

Good luck and enjoy the journey.

  • #18
  • Jul 3, 2018 6:16pm Jul 3, 2018 6:16pm
Quoting DonaldDuckie
I have spent 10 years manually trading before coming up with my holy grail. Good luck and enjoy the journey.

I have spent 7 years backtesting and 2 weeks trading manually
  • #19
  • Jul 3, 2018 6:41pm Jul 3, 2018 6:41pm
Quoting HeyYou
{quote} I have spent 7 years backtesting and 2 weeks trading manually
I see. You should continue to manual trade until you have a feel of the market, indicators before you backtest.

Personally, I can trade pretty decent manually, wining various forex contest. But it's very time consuming which is causing a lot of problems for me as I have to take care of my 2 kids and also I enjoy traveling every month for vacations.

Therefore I decided to code my own EA which can run 100% automatically without any interventions.

During backrest, I also get to see my manual trading strategies from a different angle which actually helps me to improve further.
  • #20
  • Jul 4, 2018 1:29am Jul 4, 2018 1:29am
Quoting DonaldDuckie
{quote} I see. You should continue to manual trade until you have a feel of the market, indicators before you backtest. Personally, I can trade pretty decent manually, wining various forex contest. But it's very time consuming which is causing a lot of problems for me as I have to take care of my 2 kids and also I enjoy traveling every month for vacations. Therefore I decided to code my own EA which can run 100% automatically without any interventions. During backrest, I also get to see my manual trading strategies from a different angle which actually...
seems a bit complicated

no I simply use popular strategies that's why they work
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