Dark underworld of forex trading: "A-books" and "B-books"

Discussion in 'Forex' started by OddTrader, Jan 21, 2015.

  1. loyek590

    loyek590

    ok, I think I'm done. My account balance on May 27 is exactly what it was on May 1, after having been up over 30%. Just needed to give myself a pep talk to encourage me to stick with it.
     
    #31     May 27, 2015
  2. sheda

    sheda

    #32     May 29, 2015
  3. xandman

    xandman


    On your main account? That can't be good for your health and performance. You need to dial down the leverage.
     
    #33     May 29, 2015
  4. Sergio77

    Sergio77

    Although I support your Kelly work, I think you are wrong here. Trader A makes 100% and trader B makes 100%. How do you know which one of the two has skill and which trades randomly? The idea is not that random trading is unprofitable but that commissions turn profitable trading to unprofitable.

    Surely, trading randomly has 50% chance of being profitable without commissions. It also allows high returns for lucky traders. if you are a lucky person you do not need a system or algo.
     
    #34     May 30, 2015
    loyek590 likes this.
  5. loyek590

    loyek590

    well said, there's is a lot of luck in my strategy. I try to set it up so if I am unlucky I can still survive, and all the money is made catching a lucky trend.
     
    #35     May 30, 2015
  6. loyek590

    loyek590

    no problem my friend, 1% a day is not a big swing for me. 30% a month is normal if it moves one way either for me or against me . I started off May up 30% the first week, got flat to deal with my crapped out computer and got back in after Mem day and lost 30% in two days. The last two days of May were quite forgiving and ended up for the Month of May up 10%.

    But those are just the good months, most months are quite boring.
     
    #36     May 30, 2015
  7. loyek590

    loyek590

    it started out thinking I was so gifted and unlike all others I could read the market. It ended up thinking that yes, I am probably better than most when it comes to reading the market about 10% of the time and I better come up with a protection plan for the 90% of the time when I am just normal.
     
    #37     May 30, 2015
  8. i960

    i960

    If you're losing 30% in two days I'd argue you're doing something wrong.
     
    #38     May 30, 2015
  9. loyek590

    loyek590

    1% per day, no big deal, and for most traders the goal. So that's about 24% per month. But sometimes it all shows up in a few hours or few days. Up 30% first weeks in May, shutdown to fix computer, down 30% in two days, end month up 10%. What's the problem?

    The problem occurs when month after month you can't make or lose 30% to save your soul. And at the end of the year you would have been better off just buying QQQ and watching tv.

    If I'm going to lose 30%, how many days should it take before I can officially say, "I have no problem."?

    And what would you argue someone who made more than 30% in two days is doing wrong?

    What is the proper amount a trader should make or lose in two days?

    And what does two days have to do with it?
     
    #39     May 30, 2015
  10. loyek590

    loyek590

    and we are only talking 30%. When it goes really bad you will remember when you were bitching about just 30%

    that other 70% is there for a reason
     
    #40     May 30, 2015