Prince Peter's Video Trading Journal

[Aston1st]

Hi for those of you that can remember I run a Topic:

How I turned £3000 into £20,000 in 6 Weeks!

I decided to post some of the videos that I make for my YouTube channel to add to the colour on the forums.

I start with a losing day:

Losing Trading DAY on the DAX

How I manage a Bad Trade

Full Recovery + Profit

From time to time if anything happens that I think may be of interest to the Community I shall post it here.


NB: I make loads of mistakes and am always l learning ( and earning) my strategy is to gamble and take a punt. I have no understanding of risk management. Always looking for backers. although they must be strictly fully qualified investors.

I trade for the following reason only:

"
"My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market. The stock market is the greatest, most complex puzzle ever invented – and it pays the biggest jackpot….it was never the money that drove me. It was the game, solving the puzzle, beating the market that had confused and confounded the greatest minds in history. For me, that passion, the juice, the exhilaration was in beating the game, a game that was a living dynamic riddle, a conundrum to everyone who speculated on Wall Street."

Jesse Livermore, from reminiscences of a Stock Operator

 

[alexwinkler]

Solid returns, nice work. Stick with it!

 

[iq200]

Hi for those of you that can remember I run a Topic:

How I turned £3000 into £20,000 in 6 Weeks!

Hi,
I like your youtube blog.
Is trading a side gig or your primary source of imcome?
Cheers,
Imran

 

[Aston1st]

Hi,
I like your youtube blog.
Is trading a side gig or your primary source of imcome?
Cheers,
Imran

Hi Imran,

At the moment it's my main activity. For now I have a very small account and am looking to build it up.

Next year I shall be doing some other projects.

Glad you like channel. I try to keep it real with the Good, Bad and Ugly.

 

[Aston1st]

A cautionary tale on how not to trade Non Farm Pay Rolls:

Non Firm Pay Rolls - How not to Trade it !

Trading Rule No 1 = Trade What You See.

 

[Aston1st]

Review of Trading Performance on a small account.

Trading a small account - Performance review

The Good News is I have not blown it up yet!

 

[Aston1st]

Trading the Market:

Anything can happen!

Back to the drawing board.

 

[NVP]

Hi There - so did it all go wrong ? ........hang in there...it takes many years to become a solid trader

N

 

[NVP]

Hi for those of you that can remember I run a Topic:

How I turned £3000 into £20,000 in 6 Weeks!

to be honest it depends on the number of trades taken to achieve that ROI ......(670%)

But 99% of profitable and experienced traders would agree this is ludicrous return expectations for risk needed in just a 6 week session and minimal trades ..........crazy !

for example

my max trade is always 2% of bank so max trade was £60 per trade on £3,000 open

even scalping say at 70% success rate and 1:1 return when successful = (thats good)

Loss = £60 X 30% = £18-00 Loss
Gains = £60 X 70% = £42-00 Gain

Net = +£24-00 per trade net profit = (0.8 % of Bank profit per trade)

so (excluding increasing the trading size as bank increases and transaction costs) you will need

£17,000 / £24 = 708 trades to get to a £20,000 bank in 6 weeks - (no increase in stake)

or around approximately 250 trades if you increase your stake to match 2% of Bank
(so final trades being approx £400 per trade by the time you hit those £20,000 levels)

personally even scalping i am struggling to hit even 4-5 good net trades in a session fitting criteria above
im pretty happy with 2-3% of bank in a 4 hour session .......thats good going on average

so lets say 2 scalping sessions a day X 6 solid weeks = 6 weeks X 5 days a week X 2 sessions = 60 sessions

60 session at 1% return per session gets me a £1,800 profit from £3,000 stake (Flat £60 a trade) = 60% ROI
60 session at 2% return per session gets me a £3,600 profit from £3,000 stake (Flat £60 a trade) = 120% ROI

OR £2,290 on 1% per session if i was scaling up per trade (I would be around £105 stake a trade by then) = 77% ROI
OR £6275 on 2% per session if i was scaling up per trade (I would be around £147 stake a trade by then) = 209% ROI

and this is very good and consistent trading .........with some really good days needed as well to offset the many flat low return days .....

so please dont believe the hype on so many promises out there....the reality is much harsher

N

 

[fibo_trader]

A cautionary tale on how not to trade Non Farm Pay Rolls:

Non Firm Pay Rolls - How not to Trade it !

Trading Rule No 1 = Trade What You See.

Post a phone number for your next of kin. Pay all your family's bills NOW, give the rest of the money to your wife and get a job, for cryin out loud. Dyin ain't much of a livin, boy! Bail out now, brother.

When the wave turned down and the room was humming hotter you panicked when the ceiling flew away. Dead giveaway that you are no warrior against an entity of this magnitude.

SATAN ............................. leeeeeeeeeeave him, a miraculous intervention has occurred right now!

 

[trendie]

NVPs post is a rather brutal reality check.

Its a bit of a trope, but you have to focus on refining your method and execution, and let the profits come where they may. Keep at it if you want.
But, to begin with, you may be better off trading larger TFs and earning via a job as well.
Psychologically less damaging.

 

[Aston1st]

to be honest it depends on the number of trades taken to achieve that ROI ......(670%)

But 99% of profitable and experienced traders would agree this is ludicrous return expectations for risk needed in just a 6 week session and minimal trades ..........crazy !

for example

my max trade is always 2% of bank so max trade was £60 per trade on £3,000 open

even scalping say at 70% success rate and 1:1 return when successful = (thats good)

Loss = £60 X 30% = £18-00 Loss
Gains = £60 X 70% = £42-00 Gain

Net = +£24-00 per trade net profit = (0.8 % of Bank profit per trade)

so (excluding increasing the trading size as bank increases and transaction costs) you will need

£17,000 / £24 = 708 trades to get to a £20,000 bank in 6 weeks - (no increase in stake)

or around approximately 250 trades if you increase your stake to match 2% of Bank
(so final trades being approx £400 per trade by the time you hit those £20,000 levels)

personally even scalping i am struggling to hit even 4-5 good net trades in a session fitting criteria above
im pretty happy with 2-3% of bank in a 4 hour session .......thats good going on average

so lets say 2 scalping sessions a day X 6 solid weeks = 6 weeks X 5 days a week X 2 sessions = 60 sessions

60 session at 1% return per session gets me a £1,800 profit from £3,000 stake (Flat £60 a trade) = 60% ROI
60 session at 2% return per session gets me a £3,600 profit from £3,000 stake (Flat £60 a trade) = 120% ROI

OR £2,290 on 1% per session if i was scaling up per trade (I would be around £105 stake a trade by then) = 77% ROI
OR £6275 on 2% per session if i was scaling up per trade (I would be around £147 stake a trade by then) = 209% ROI

and this is very good and consistent trading .........with some really good days needed as well to offset the many flat low return days .....

so please dont believe the hype on so many promises out there....the reality is much harsher

N

Thanks for the Post sorry not to have replied sooner.
Shall review your points. It's always good to read other peoples opinion. I have been trading a while.
Was at the same Prop Shop as this Guy:

 

[Aston1st]

Post a phone number for your next of kin. Pay all your family's bills NOW, give the rest of the money to your wife and get a job, for cryin out loud. Dyin ain't much of a livin, boy! Bail out now, brother.

When the wave turned down and the room was humming hotter you panicked when the ceiling flew away. Dead giveaway that you are no warrior against an entity of this magnitude.

SATAN ............................. leeeeeeeeeeave him, a miraculous intervention has occurred right now!

What makes NVP post of VALUE is he/she is giving their opinion and offering their methodology. There is zero arrogance but solid opinion of their own perspective on trading. Likewise Trendie to a lesser degree.

Writing with a chauvinist bent , i.e "having a smug sense of superiority." for me are what has DEVALUED the Brand of this Website. Hence the lack of posters.

The one thing I enjoyed while on a Trading Floor was that nobody told anyone how to trade only how they traded. That's the difference between Retail and the Street I suppose.

 

[Aston1st]

Hi,
I like your youtube blog.
Is trading a side gig or your primary source of imcome?
Cheers,
Imran

It's half and Half at the moment. There is too much volatility in my account to rely on it for my main income. Although once an account grows to a certain level it becomes possible.

 

[Aston1st]

This is my first video clip for 2020 :