Current situation in USD:
Current situation in Points:
Current situation in USD:
Current situation in Points:
Stats:
I must review my whole trading. It's unclear, no set of rules, however, freestyle zone choosing.
Inconsistent placing of orders good will.
I must learn much more about market structure. I believe it will take years.
This current state isn't sustainable and must become much better. The statistic isn't satisfying and therefore the profitability is not either.
The entry points are hurried, the patience is inadequate, the market understanding is of little use, since it is unfounded on emotion.
ReactionOriginally Posted by ;
I'd like to say that you're doing really well for somebody trading after work. I think 20% return in 2 weeks is much more than fantastic, and that you ought to feel proud of your performance. Professional Finance Managers do not even bother to make this much in a year, let alone two weeks. IF you keep this up, you will have like 1000% annuallyOriginally Posted by ;
Keep up the Fantastic work thanks for sharing your own trades with us
Yeah, I think you are doing really well also. You can't win each and every trade however, your DD is low and equilibrium is growing consistently. I think you should be happy with your results up to now ))
Now's reduction: USD 263.76
Never add to a losing position. I did.
I appreciate your words.Originally Posted by ;
But: Realistically:
The realized P/L is USD 410.58. That is 8.21%, not 20%.
Further, the equity has dropped to ca. USD 800 that if currently closed will be ca. 16%.
The RRR over 51 transactions so much is 1:1.91, that is kind of OK, but not really. What's more, the statistic is not correct, as, as one could see if the trading style was continued up to 500 transactions, the true RRR is far lower. The low average loser of 56.46 is due to alterations of commerce sizes after placing a trade (I exchanged a too big dimensions ), but these little USD 1-10 losses significantly alter the ordinary loser. The average winning trade although is fairly correct with USD 108.05.
The triumph rate of 39.22(W) into 60.78(L) is kind of OK, if the RRR was higher (more than a big enough sample size to avoid above mentioned statistical mistakes ).
Yes a mere 7% per month are greater than 100 percent each year, and yes Portfolio Managers of big funds wouls be pleased to deliver 20% every year. BUT:
The contrast of a retail trader to a traditional fund (be it Mutual/Hedge/Equity/ / Bond/Money market Fund, etc.) is useless. A fund covers its expenses through a management fee from 0.25 (ETF) to 1.5% (Activeliy Managed Funds) up to 2-3% for Hedge Funds. Further, Hedge Funds and other Funds have a Performance fee (15-20%), which is an incentive to do well.
Hence the Assets under management (AUM) are important a) to achieve a vital mass so that transaction costs can be low, b) once a) is achieved: earn money just from the Management fee, because the scalability is huge for this business model. You do not need to multiply your staff times two, simply because you've got twice as much AUM.
Obviously that using all the current interest rate levels net, a shitty fund using a web performance of 2% annually (which could be gross 3 percent ) is still attractive. A trader can pull 3 percent out of a** with a single commerce of RRR 1:3.
So IF the Fund Managers where oh-so-good, then they'd trade for themselves or would return considerably greater% and therefore would charge way more. In the 90s this was the situation with some among the grade of Quantum Fund Manager George Soros. I forgot the name but his arrangement was5% Management fee, 50% performance fee. You can do that if you return 60-150% annually, which the fund did.
Bottom line: Excellent traders with a good understanding of the FX-Market have a profit factor of 4, 4 and a RRRof 1:4.5 or similar.
I'm nowhere near to that. Nowhere.
I hope I could set just a little bit into perspective what FX trading functionality resembles.
Thank you. Please read post #88.Originally Posted by ;
Can you mean not add to a losing position, not a winning position?Originally Posted by ;