Full time trading does it really pay

new_trader said:
fayalac, i hate to be a part of any 'mob' and you probably are profitable but i can't figure out the 0.3% risk either. If you don't have a stop (mental or fixed) then in my book you are risking your entire account. If you are closing a trade with "whatever" loss it has accrued then your risk isn't a predetermined 0.3% as you imply.
Click to expand...

you´re right
 
new_trader said:
fayalac, I hate to be a part of any 'mob' and you probably are profitable but I can't figure out the 0.3% risk either. If you don't have a stop (mental or fixed) then in my book you are risking your entire account. If you are closing a trade with "whatever" loss it has accrued then your risk isn't a predetermined 0.3% as you imply.
Click to expand...

Account size = $1000
Risk = .3%
Risk in dollars = $3

Bet $3 per pip with no stop loss = 'risk .3%'

This does actually outdo Howards calculation of risk somewhat.
 
fayalac said:
No, in fact it works on a different way.
I risk max 0.3% of my equity at each trade ( 3 usd out from each 1000 usd ).
I use no stop or limit, and not because of the nfa rules, because my account is in england i can use both of them, but i dont do it because i dont care if i have some pips against me while my trend is still lined into my direction.
If the trend change then i can 1) close that position with whatever a profit of loss it can have, 2) start my plan b or c - in such case -.
Basically i am trend chaser, i have had positions loosing 300 or more pips but since my trend hasnt changed i stick to it and eventually profit from that position.
Anyway at a previous post i said i closed a couple of positions loosing about 600 pips three weeks ago, with my rule (0.3%) i lost only 18% of my account but that same week i had a lot of winning positions so i closed the week winning 620 pips, if my invstment were higher than what i do i could be margin called.
Anyway, its not often that i have such situations, for example last week at some time i had won about 600 pips but i had some loosing positions with a total of -780 pips my net effect was -180 pips ( 5.4% of my equity - a small drawdown -), that was wednesday, i reviewed all graphs and decided there was no need to implment plan b so i sticked, thursday evening i had won 1,060 pips without open positions, it was friday when i decided to enter into a couple of positions, the first one was closed with 12 pips (very small but the trendline was starting to show signs that it would change) and the other one is actually loosing 98 pips but my trend is basically the same so i stick to it.
Click to expand...

Ok, so when you're risking "0.3%", and you make 100 pips. What return will you get on your account?
 
new_trader said:
fayalac, i hate to be a part of any 'mob' and you probably are profitable but i can't figure out the 0.3% risk either. If you don't have a stop (mental or fixed) then in my book you are risking your entire account. If you are closing a trade with "whatever" loss it has accrued then your risk isn't a predetermined 0.3% as you imply.
Click to expand...

nt we fear the unknown, and fear is always our worst enemy.
If you know what you´re doing, there´s no need to fear
 
fayalac said:
nt we fear the unknown, and fear is always our worst enemy.
If you know what you´re doing, there´s no need to fear
Click to expand...

This is the guy who did the The Final Holy Grail thread in the Journals section. He trades exactly the same as him, and his english is just as bad. (MEDBS)
 
brettus said:
yea. Well it got me out of the s**thole that is mexico.
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my friend....., have you ever seen how and where english people live?, i mean those tiny flats, everyone over the rest?, come on, why dont you define ****hole?, do you really know your contry?, have you ever been in mine?, do you know how many englishmen are living legally or illegaly here and how many mexicans are there?, at least 5 englishmen here for each mexican there.
Have yu ever left your contry?, i dont think so, so before open your mouth try to understand that only, i mean only, sometimes ignorance is neccesary.
 
Fayalac,

This is not an attack on you. But you do need to explain something otherwise people are going to be highly sceptical of anything you say.

You say that you risk 0.3% of your account per trade ($3 for every $1000 dollars in your account). You also say that you do not use stops and let the trade go against you as far as it takes. This could be 1000 pips or more.

Most people would say that this doesn't make sense, that if you don't use stops you do not have a fixed 0.3% risk.

Can you explain this please?
 
pazienza said:
fayalac,

this is not an attack on you. But you do need to explain something otherwise people are going to be highly sceptical of anything you say.

You say that you risk 0.3% of your account per trade ($3 for every $1000 dollars in your account). You also say that you do not use stops and let the trade go against you as far as it takes. This could be 1000 pips or more.

Most people would say that this doesn't make sense, that if you don't use stops you do not have a fixed 0.3% risk.

Can you explain this please?
Click to expand...

i could, but i wont.
If i do i would be giving these guys the insigth s of the method, i would never loose 1,000 pips before reacting, you think i have never faced a sudden trend change?, of course i have but i have won even at those situations, and i will keep winning.
Let them talk, i will not erase their dreams, their world has to be filled of loosers because that is the way they can explain themselves their results.
I already said what i had to, i told them they can win as many pips as they want to win, they can manage their risks, the rest depends on them.
 
fayalac said:
my friend....., have you ever seen how and where english people live?, i mean those tiny flats, everyone over the rest?, come on, why dont you define ****hole?, do you really know your contry?, have you ever been in mine?, do you know how many englishmen are living legally or illegaly here and how many mexicans are there?, at least 5 englishmen here for each mexican there.
Have yu ever left your contry?, i dont think so, so before open your mouth try to understand that only, i mean only, sometimes ignorance is neccesary.
Click to expand...

I'm not an American so i do have a passport. Mexico City is more populated than London.

Both are pretty s**t, but Mexico is slightly worse.

MEDBS

"I took 5 highly risky trades, and, knowing their huge risk, I took a slight leverage, the type 2:1 and 3:1.
But now, for sure, I'll not post again such trades, the risk of traders blow themselves up is very high.
I apologize to those who "blindly" follow my trades, and I must (had to) clarify that my strategy gives two kinds of signals: Risky Trades (sometimes highly risky trades) & safely Trades with killer entries".

Do you take safely Trades with killer entries too?
 
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fayalac said:
i could, but i wont.
If i do i would be giving these guys the insigth s of the method, i would never loose 1,000 pips before reacting, you think i have never faced a sudden trend change?, of course i have but i have won even at those situations, and i will keep winning.
Let them talk, i will not erase their dreams, their world has to be filled of loosers because that is the way they can explain themselves their results.
I already said what i had to, i told them they can win as many pips as they want to win, they can manage their risks, the rest depends on them.
Click to expand...

Thank you Fayalac. That response is perfectly adequate and it was more or less what I was expecting. I'm fairly sure I now understand what is going on.
 
You are still wrong.
Mexico city is worse than london, you´re rigth, but any of those cities are a ****hole in any sense, i perfectly know both cities.
And i do not live in mexico city.
 
fayalac said:
You are still wrong.
Mexico city is worse than london, you´re rigth, but any of those cities are a ****hole in any sense, i perfectly know both cities.
And i do not live in mexico city.
Click to expand...

Ok ok. This is not the point. The point is. Risking 0.3% doesn't relate purely to the trade size and account value. It relates to the trade size and stop distance and account value. It's not like risk is subjective. It's straight forward. Noone will take you seriously if you don't understand this.
 
Why do some people find it so hard to define their risk per trade? I suppose if you're not using stops it becomes a little problematic.

Irrespective of how he reports it, I'm struggling with the $5k account balance thing after years of making 30%+ a week.

You know, it is entirely possible that fayalac is an awesome trader. Given enough traders, one of them could get very lucky, although that STILL doesn't explain the small account size after such a lengthy period of incredible performance. (and I use that adjective literally - incredible = not credible)

I look forward to being sworn at!
 
meanreversion said:
why do some people find it so hard to define their risk per trade? I suppose if you're not using stops it becomes a little problematic.

Irrespective of how he reports it, i'm struggling with the $5k account balance thing after years of making 30%+ a week.

You know, it is entirely possible that fayalac is an awesome trader. Given enough traders, one of them could get very lucky, although that still doesn't explain the small account size after such a lengthy period of incredible performance. (and i use that adjective literally - incredible = not credible)

i look forward to being sworn at!
Click to expand...

well, i have an ex, two daugthers in college and my fiancee, and i also like to live in a good way, i am not weird for that, simply i have too many expenses.
 
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