By the way we all need to listen up to BeginnerJoe... He is here to protect and deny access to scam artists.... (not sure what he contributes though... but that doesnt matter for now)
He is a full time detective of T2W... so give respect where its due.
Troll Denied
I'd also remind the readers that this system can be traded at any risk level.
My plan is that after 2 years, if account hasn't "tanked" from 2 losses in a row that I will be reducing the risk to 5-10% per trade.
Am I missing something here? What is this system?
Reducing the risk will dramatically increase the number of times it will hit the Stop Losses.
Reducing the risk will dramatically increase the number of times it will hit the Stop Losses.
As I said before, ANY system that uses a Stop Loss equal to 60% of the account balance is guaranteed to crash and burn.
Reducing the risk means to decrease the leverage not the SL, so no, it won't effect the winning rate. It will effect the percent gains, however.
I wouldn't say guaranteed. Rather depends on the system. Some systems are less likely to crash and burn on 60% risk than some are on 1% risk.
So the Stop Loss would be maintained at 60% of the account balance. What are the other parameters of this system?
Let me see if I can explain. If I choose to risk 50% of my account and I know ahead of time that my stop-loss is 100 pips, I need to leverage according to the SL with regards to my balance. If my balance is $1,000 what would I need to risk per pip? Well, 50% of $1,000 is $500. So, $500 is what I have to risk. Therefore, 500 / 100 pips is $5.00 a pip. If a trade goes neg 50 pips, that would be -$250 or -25% of the balance. If it goes neg 100 pips, that would be -$500 and -50% of my balance.
I hope that makes it clearer.
Hello tkbieber,
Looking at your account 2, there seems to be an error in each of the trades. Each of the trades are placed in advance to be started at 7.15am GMT
My question is, If you are placing all your trades in advance, how can you have your stop losses below your sell orders?
For example, in the last trade (2011.08.25) your opening price was a sell at 1.6371. Your stop loss was 1.6369. This is BELOW your sell at 1.6371. How does this happen?
It happens the same on your buy orders. All your buy orders have stop losses ABOVE your opening buy price
How are you doing that?
What has been your maximum drawdown in pips and percentage terms?
Do you have different strategies for Account 1 than Account 2?
Account 1 I added another system to it. It's for my clients' benefit. They should get an extra 5-9% a month.
Since you use an EA, there are no templates or other indicators used for your system?