70% Account Drawdawn.

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bredin
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Postby bredin » Tue Nov 23, 2010 2:19 am

I think you might be about to see an example of adding to a losing position (averaging down), done properly rather than out of panic :lol:

I'll be interested to see if the math makes for a better result than just dumping the bad trade....

G.
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genlogins
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Postby genlogins » Thu Nov 25, 2010 2:15 pm

Thanks, ZEN.

Well, I just got my drawdown 5% smaller during this week.

I think is something that you have to do with hard work and for a long time with 2% a day or more.

Of course with a over 70% drawdawn, its very hard to get back up with only 2% a day.
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ZEN
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Postby ZEN » Thu Nov 25, 2010 8:32 pm

genlogins wrote:Thanks, ZEN.

Well, I just got my drawdown 5% smaller during this week.

I think is something that you have to do with hard work and for a long time with 2% a day or more.

Of course with a over 70% drawdawn, its very hard to get back up with only 2% a day.


I feel that you are ready to make money on forex!
I only have one advise for you: BE PATIENT!!! Pacience is the key of this game. 2% winning per day it's very, very good. Be patient and go just for 1-maximum 2% per day and choose very careful the day to trade and the trade it's self. DO NOT RUSH and after another 2-3-4 months you will have a nice surprise!
After some time you will get the money back and you will go on profit.
Good luck and best regards!
Today it's better!

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genlogins
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Postby genlogins » Thu Nov 25, 2010 9:33 pm

Thanks ZEN,

Actually, last week I raise my account by 1% if you count from where I started the account, and 4% counting just with the money left over in the account as it is.

This week however, I just had 3 very small loses, and as of today Thursday results for this week alone I raised the account by 25% (as the account money now, or 4% When open the account).


So, here is a question for all of you:

When do we count the %? from when we started the account or from the money we have left in the account?

And, when we have a positive growing account how does it works?
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ZEN
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Postby ZEN » Fri Nov 26, 2010 6:12 pm

genlogins wrote:Thanks ZEN,

Actually, last week I raise my account by 1% if you count from where I started the account, and 4% counting just with the money left over in the account as it is.

This week however, I just had 3 very small loses, and as of today Thursday results for this week alone I raised the account by 25% (as the account money now, or 4% When open the account).


So, here is a question for all of you:

When do we count the %? from when we started the account or from the money we have left in the account?

And, when we have a positive growing account how does it works?


For me the answer is simple: you have to consider the account from the moment of now in order to be realistic. What it was it was and is no more part of the reality wich is now but part of past wich it's not the reality. The reality is only the present.
So, you have to consider the % of winning related to your current account.

You have a positiv growing of your account evrey time you make a winning trade.
Today it's better!

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TygerKrane
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Postby TygerKrane » Sat Nov 27, 2010 7:41 pm

genlogins wrote:When do we count the %? from when we started the account or from the money we have left in the account?

gen,
For your particular case, you might want to use your original account balance. You have made it clear that your goal is to regain your ORIGINAL account balance. You have lost 70% of it.

Base your daily gains off this number as it makes it easier to to keep track of how close/far you are from getting back to that original account size.

For example if you had $100, 70% loss takes you to $30. A 70% gain on that $30 account (=$21 gain) on the next day's trade (one day) takes your account to $51. While 70% is a hell of a gain for a daily trade, it doesn't tell you how close you are to getting back to your starting point.

Better to say that after a 70% loss, your loss is now only 49%.
70%-21% = 49%
You can now easily assess that you lost 70% of your original account, and now you have 'only' lost 49% of it.
[highlight=white]
{take your daily profit/loss dollar amount, and calculate that percentage based on the original account's dollar amount, is what I'm saying here)
[/highlight]


genlogins wrote:And, when we have a positive growing account how does it works?

You can choose whatever date you're comfortable with, but you have to make the timeframe clear to people when you are talking to them, otherwise its not too helpful.

example:
"You made 2% on your account?? Congrats. But how long did it take?"
1 day->great
1 week->good
1 month->ok
1 year->wtf?!? what do you want, a doggie biscuit?

The point being, just let people know the timeframe you are counting from:
this day / beginning of the month / from 2 weeks ago when MO's teachings finally 'clicked' for you / since you started using x-indicator however long ago / from beginning of the year...

...etc, whatever.


An opinion,
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Postby genlogins » Sat Nov 27, 2010 10:56 pm

Thanks Krane,

When I started with this forum was in June 2010, after reading a few things I just went away for Never to return.

About 1 month ago or more, I came across this forum again, but this time I was reading the Never losing again thread, as a google search.

I found interesting and I gave a try. I had a 70% Drawdown on a real account, and it did got worse.
But, I never gave up, I thought that something with me was wrong and I had to find out.

I took my own test 3 weeks ago to find out "What was wrong" and "How I took my real account from 70% to 90% in a matter of maybe 3 weeks".

The problem was not the Indicators, thanks to TRO we have good indicators.

The problem was my subconscious mind, and my eyes not seeing the price value and what was doing.

I took a HARSH left 3 weeks ago, as some one mention to me to see price alone, nothing else, until I see what it is doing even if it would take months without trading.

So, I just set the MT4 with M1 price. And look at it for 1 solid weekend, and half a day when market was open.

Now I can see price even before NLA indicator, :)

I trade only 3 hours per day, with only 3 trades. Either 3 positive or 3 negavite, and I am out of the market. I did not set up a top % that I should take in each day. Only the max loss of 30 pips (if 3 losing trades).

May be this may be the reason why I only increased the account by less than 1% last week, and 4% this week. (I am taking your advice and this is from the Starting of the account size).

May be I should trade more, but I still have to go to my job.

Also, before I used to have this feeling of not trading, and every time I broke just because there was a move in the market, I would lose a few trades. So, now I just switch the screen off.

thanks for all replies,Gen
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Postby MightyOne » Sun Nov 28, 2010 1:26 am

Risk 1.8% per trade and lose no more than 1.8% per week.

Spread the risk percent over 9-18 pips so long as you do not start with fewer than 3 lots.

Learn how to shed lots instead of letting price tag your stop.

Trade the pairs that most often give you the opportunity to exit for a small loss instead of spiking your stop if you are wrong.

Learn how to resize your trade after a loss to restore your pincushion and fight for every cent of your money.

Learn how to exchange profit for position size to increase your profits.

More risk is just more risk, but more profit is more profit.

Taking a risk after taking a risk is a downward spiral, but working with what you have is the path to great heights.

Luke 16:10-11

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genlogins
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Postby genlogins » Sun Nov 28, 2010 3:07 pm

Thanks Krane & MO,

May be krane is right, I should choose MO as my mentor.

MO do you have a thread where I can check how to do the things above?

I have in my system that when I see opportunity that may return big winnings, when price moves fast, I go in with at least 4% of the account, and catch 3 pips or more.
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genlogins
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Postby genlogins » Sun Nov 28, 2010 3:11 pm

Oh, I only trade EUR/USD because it is the smallest pip spread.
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