2009.04.04 WHY 95% OF TRADERS LOSE

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retireme
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Postby retireme » Tue Aug 18, 2009 12:55 am

Can't agree more, this is how I learned to understand that my children are just NOT listening to me...

the old saying that you cannot put an old head on young shoulders is far more accurate than what we give it credit for!

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newbie here!

Postby mozdukemod » Sun Sep 13, 2009 3:02 am

at the risk of being selfish, here is my predicament:

i've done well with simply using support, resistance, and a fib insert entering long/short at the proper fib line. however, i would like to use TRO's indicators to replace my manual work such as counting 21 bars, etc.

my problem is i can't download and successfully open the indicators to my metatrader software. secondly, which indicator(s) is the best way to begin for a newcomer, as seen by those of you using TRO's methods profitably?

i've enjoyed "learning by lurking" on the forums, but would love to make the next intelligent step. Avery has been kind enough to answer ALL my emails promptly and politely, and i would love to learn from others who may be experiencing the same problems. any advice would be appreciated, and Avery, thank you for all your past patience.

mark

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TheRumpledOne
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Postby TheRumpledOne » Sun Sep 13, 2009 3:55 am

1) Make sure MetaTrader is closed.

2) Download and unzip the indicators to

C:\Program Files\your metatrader folder name\experts\indicators

2a) Download and unzip the templates to

C:\Program Files\your metatrader folder name\templates

3) Run MetaTrader

4) Click on VIEW

5) Click on Navigator

6) Drag an drop the indicator you want onto the chart
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

rafusfx
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Hi All!

Postby rafusfx » Sat Sep 26, 2009 5:26 am

First I want to thank TRO and all participants of this forum for all the great info.
I've tradet DTB with a Trading Simulator. This way I can go back one month and trade like it was today this way we can learn faster how to trade it.
Just want to contribute all the help I got just from reading all the posts.

Trading Simulator:
http://www.forexfactory.com/showthread.php?t=70742


I already able to trade DTB profitable, but I've one question:

For example I've a 10k account, and I want to risk just 2% of it in each trade.
then I do margin x (multiply) 2% /(divide) stoploss. Testing DTB I've been profitable placing a 30pips stoploss. Then I get the Lots in this case 0.6.

In each trade I 've a target of 5 pips, that gives me 30$ pro trade.
But when I loose, I loose 200$. Than just to be profitable again I must make 6 profitable trades again to get the 200$ back.
I know this sistem has a high hit rate but I'am trading this right?
Like TRO said ..is how you trade it.. if there is an other way can you TRO or someone else explain me please?

Thank you for your attention and sorry for my bad english.

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Postby nkhawaja » Sat Sep 26, 2009 6:01 am

these are very welll summed up points..

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Postby TheRumpledOne » Sat Sep 26, 2009 5:35 pm

RISK = STOP LOSS * POSITION SIZE

STOP LOSS = RISK / POSITION SIZE

POSITION SIZE = RISK / STOP LOSS

If you use this formula, then you shouldn't have any problem.

A 30 pip STOP LOSS is TOO MUCH. Can't you SEE that price is going AGAINST YOU after 10 pips?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

rafusfx
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Postby rafusfx » Sat Sep 26, 2009 6:32 pm

Hi TRO, thank you very much for your answer.

I'm using the formula:
(ACCOUNT BALANCE * RISK in %) / STOPLOSS = POSITION SIZE.

This way I get "the pip value" and when my stop gets hit I will loose only my RISK (2%).

10pips, :-k MAN,.... back to training. :smt024


Thank you again. :smt023

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TheRumpledOne
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Postby TheRumpledOne » Sat Sep 26, 2009 6:53 pm

Your formula is fine.

Don't let the rat beat you.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

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Postby radatats » Sat Sep 26, 2009 7:34 pm

It is much easier to use scripts to place the right size orders. Trying to calculate it and then enter a trade takes too long in my opinion.

Here are a couple of great scripts that I use for my trading. Download them into your experts/scripts folder and restart your platform. You should also assign hot keys to them to open them up directly. That is done from the Navigator window. I use Alt-B/S for buy/sell, Alt-X to close all, and Alt-T for the trailing lines. You can also create various settings and save them as presets, for example a 1% risk setting and a 3% setting, get the idea?

There are 4 scripts here. One to buy, one to sell, one to immediately close all orders and one for a trailing stop.

The buy and sell scripts will automatically calculate the correct size trade for your account size and risk parameters. You just need to input the number of pips for your desired stop and the desired risk percentage. Make sure the sure MM is set to true. I keep the use stops setting at false and instead use the trailing lines script so the broker won't see and hunt my stops. Even so you MUST enter the correct stop size in pips for the calculations to be correct.

If you are using a demo account use the 5digit buy/sell scripts or your trades will be way off.

The trailing lines script places a horizontal line on your chart at the assigned level, X number of pips behind the current price. You can then select the line and move it to where you want the stop to be. If the BID crosses the line the trade will close. There is no actual stop placed with your broker so nobody can hunt it. Remember it is up to you to manually move the line.

The close all script will close ALL open and pending orders not just the ones for the pair you are looking at so be aware of that.

Hope they help.

Steve
Attachments
scripts.zip
(5.1 KiB) Downloaded 184 times

rafusfx
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Postby rafusfx » Sat Sep 26, 2009 7:58 pm

Thank you TRO, thank you Steve.

These scripts definetly will help. And the hot keys idea is really good too!

:smt023

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