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Ten-thousand in Education and still not profitable!

  #176 (permalink)

Los Angeles
Posts: 127 since Mar 2011
Thanks: 96 given, 96 received

thatguy View Post
Based on what you are saying here it that you never will have more winners than losers when your profit target is bigger than your stop loss and that you will always be a break even, unless you do something else like averaging up. This is simply not true and your similations are severely flawed.

nope, I never said that the number of winner will never be bigger than losers when TP>SL.

Trading with the trend for example will do that, but again, I did not address that...

Any billionairs here who could give EU a little push? Just a little

Oh, nono, I am not a millionair, and I was not profitable from beginning on, so not there yet.
I've read too many stories, I know that when market changes, I will lose it all. For example when I look back at 2008 where I began, I still don't know how I would have traded there.
The luck will end and I might become poor once again, I am aware of that.

And if I have a little more luck, I will lower my risk over time so not to lose it all (currently 2% per trade). A billion has never been the goal. 10% a year on 1 mil is more than enough to me and I am not there yet and if I will, I will let you know...

Sorry I need to add, because it is of utter importance: Those who calculate fixed R:R are doomed to fail. It is just wrong. Look EURUSD spot today. I went short 1.3871, because I like to sleep a little longer. Open 5m chart to see the detail. I entered where it was still falling strong.

I went short
  • because my system told me to
  • I swore to take every valid signal
  • because I assumed EU might fall further.
Now the market gave me about 20 pips only before it headed back and turned into range. This is where I was proven wrong that I assumed EU will fall.

I closed my position with a small loss:

  • I was proven wrong that EU will continue falling
  • Average daily range was reached
  • the Pair went into bullish range (higher highs, higher lows)

Then a BUY signal came what is very rare on one single day (usually in ranging market) and I went long and currently +1.3% in profit on my account risking 2% targeting whatever the market gives me (I expect it to be around 1.4000). The market will fall into range and this is where I will look for a spike with good price to take profit. It might be way before 1.4000 so I just take my profits when it is time to.

I never think about RR at all. I just look at what market does and if EU continued falling there wouldve never been a buy signal and I wouldve reentered short.

I think what I write might help the OP, because I have no idea what he has been taught to do for 10 grand that he spent on education. I simply write how I think and how I make profit, and if it is any help I am happy.

Last edited by ReaM; March 15th, 2011 at 12:05 PM.
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