The final Holy Grail!

[LiamH]

He showed us his statement and it shows the lot size he was using almost all his trades were 10 lots. What you dont understand is that if eurusd goes down another 300 ticks his account should be 0. he also told us exactly what leverage he uses. We are not assuming his leverage, its just we can do math. 10:1 leverage means if he has 200k in his account hes doing a 2mio trade. 50p per point on eurusd at 1.24 is 6200 GBP which is 6.2:1 leverage so its not 10:1 leverage. I think you are getting confused about leverage.

if you are leveraged 10:1 that means if the currency pair moves against you by 2% you lose 20%, because you bought 10 times your account value. It's pretty simple. So with these non risky trades his leverage as he told us is 3:1 and GBPUSD has moved 4.3% against him so thats 4.3 x 3 = 12.9%. EURUSD has moved 2.3% and 1.8% against him on 10:1 leverage so thats 2.3 x 10 + 1.8 x 10 = 41%. 41% x 200k = 82k.

Fair point, my idea of leverage may be wrong. I was under the impression you could allocate a certain percentage of your account to margin so that you can hold multiple leveraged positions at once?

In my example I said that if he is using £1000 as margin and trading at 50p per point this would be more than 10:1 leverage - Surely this is correct? Isn't it more like 50x leverage?

 

[brettus]

1) I haven't raved about my intellect - Only that others aren't intelligent enough to understand something simple (This is Medbs journal and he asked that you wait until the end of May to criticise).

2) I have a plan and always had a plan. It's just that my plan a couple of years ago wasn't very good and I'm happy to admit that.

3) I said 'chances are you aren't profitable'. Why this comment? Well, if 95% of traders lose money then it stands to reason that more than 9 out of 10 members of this board are not profitable therefore there is a higher chance that you are not profitable than there is of you being profitable.

Look, this has blown out of proportion but has provided me with some entertainment at work so whatever. I don't particularly care about Medbs methodology, I don't care if it's the holy grail. My only gripe is that you have all blown him to bits when he asked you not to judge until the end of May. Simple really.

i dont think anyone is saying hes not profitable. I think everyone is just trying to help him before he blows his account. Something you dont seem to understand either with your lack of knowledge on leverage...

 

[wackypete2]

i dont think anyone is saying hes not profitable. I think everyone is just trying to help him before he blows his account. Something you dont seem to understand either with your lack of knowledge on leverage...

LiamH, it's also obvious you haven't read the entire thread. Most everything you say we don't know about medbs trading has already been said/shown/picture posted, by MEDBS himself. I hate to say this but you are starting to look like a bigger fool than he is..and medbs isn't even posting here to defend you because he really could care less. This is nothing more than a windup thread - and you've been wound.

Peter

 

[LiamH]

LiamH, it's also obvious you haven't read the entire thread. Most everything you say we don't know about medbs trading has already been said/shown/picture posted, by MEDBS himself. I hate to say this but you are starting to look like a bigger fool than he is..and medbs isn't even posting here to defend you because he really could care less. This is nothing more than a windup thread - and you've been wound.

Peter

Nice, like I said, this is entertainment at work but my opinion stands that you should have all shut up until the end of May.

I must have missed something though because I didn't see him post his account size and this is a pretty important part of the puzzle.

 

[wackypete2]

I must have missed something though because I didn't see him post his account size and this is a pretty important part of the puzzle.

Exactly my point.

Time to unsubscribe. I stated my opinions. thb, I no longer really care whether or not he blows out his account, if he hasn't already. Not worth my time.

Peter

 

[bbmac]

So the current positions as we understand it are

Eurusd long from 2665 and 2595 @ 10:1 leverage
Gbpusd long from 5150 @ 3:1 leverage
Audusd long from 0.9103 @ 3:1 leverage

Current unrealised losses on open trades as a % of a/c - based on Friday's closing prices are Eurusd -54.6%, Gbpusd -18.6% and Audusd -7.44% = -80.64% of a/c.
The answer I am seeking from Medbs is whether he still thinks this is a good use of trading margin for the sake of being right ? (ie preserving the supposed/disputed 100% winning strike rate of this ' final holy grail ' trading edge.

 

[brettus]

Fair point, my idea of leverage may be wrong. I was under the impression you could allocate a certain percentage of your account to margin so that you can hold multiple leveraged positions at once?

In my example I said that if he is using £1000 as margin and trading at 50p per point this would be more than 10:1 leverage - Surely this is correct? Isn't it more like 50x leverage?

100GBP a point of eurgbp is the equivalent of having a position of 1,000,000 euros
50p a point on eurgbp is the equivalent of having a position of 5,000 euros.

5000 euros / 1000 GBP is less than 10:1. Other currencies pairs will differ but not by much.

 

[jazzidee]

1) I haven't raved about my intellect - Only that others aren't intelligent enough to understand something simple (This is Medbs journal and he asked that you wait until the end of May to criticise).

2) I have a plan and always had a plan. It's just that my plan a couple of years ago wasn't very good and I'm happy to admit that.

3) I said 'chances are you aren't profitable'. Why this comment? Well, if 95% of traders lose money then it stands to reason that more than 9 out of 10 members of this board are not profitable therefore there is a higher chance that you are not profitable than there is of you being profitable.

Look, this has blown out of proportion but has provided me with some entertainment at work so whatever. I don't particularly care about Medbs methodology, I don't care if it's the holy grail. My only gripe is that you have all blown him to bits when he asked you not to judge until the end of May. Simple really.

So now we are "complete and utter morons" because we didn't wait until the end of may to tell this guy the truth? I am a profitable swing trader for about two years now and a lot of traders might not be profitable but I think it's simple logic that this guy is a complete buffoon for holding onto these trades especially since he is a day trader. I don't post much on forums except when I see crap like this and run in characters like you and medbs. If you had really read through this journal then you would have realized how this guy turned into an arrogant and spoiled little child when things were not going his way. You probably choose trades the same way you choose your battles...Lost cause

 

[new_trader]

1) I haven't raved about my intellect - Only that others aren't intelligent enough to understand something simple (This is Medbs journal and he asked that you wait until the end of May to criticise).

2) I have a plan and always had a plan. It's just that my plan a couple of years ago wasn't very good and I'm happy to admit that.

3) I said 'chances are you aren't profitable'. Why this comment? Well, if 95% of traders lose money then it stands to reason that more than 9 out of 10 members of this board are not profitable therefore there is a higher chance that you are not profitable than there is of you being profitable.

Look, this has blown out of proportion but has provided me with some entertainment at work so whatever. I don't particularly care about Medbs methodology, I don't care if it's the holy grail. My only gripe is that you have all blown him to bits when he asked you not to judge until the end of May. Simple really.

LiamH,

You are wasting your time and energy. Besides, I wouldn't give any credence to T2W members who claim to be profitable. There is a 99.9% chance they are just blustering.WASP was one such T2W member who constantly blustered about how profitable he was and had people so convinced he was made a T2W advisor. Now these fellow goons place themselves on a pedestal in this thread professing to be expert enough to 'protect' newbies from medbs...hilarious

 

[Trader333]

was one such T2W member who constantly blustered about how profitable he was and had people so convinced he was made a T2W advisor

Becoming an advisor had nothing to do with profitability and was more to do with helping new people become familiar with trading in general. This could include advising on what the difference between spreadbetting and DMA is or what the advantages of trading US stocks is over UK etc.


Paul

 

[jazzidee]

LiamH,

You are wasting your time and energy. Besides, I wouldn't give any credence to T2W members who claim to be profitable. There is a 99.9% chance they are just blustering.WASP was one such T2W member who constantly blustered about how profitable he was and had people so convinced he was made a T2W advisor. Now these fellow goons place themselves on a pedestal in this thread professing to be expert enough to 'protect' newbies from medbs...hilarious

It doesn't take an expert to realize that this medbs character's trading plan is complete garbage. I don't give much credence to anyone who claims to be profitable and I sure as hell don't give any to those who claim to be UNPROFITABLE like yourself

 

[meanreversion]

He asked us to wait until the end of May, but will his broker be as patient? That´s the key point.

 

[Trader333]

I don't give much credence to anyone who claims to be profitable and I sure as hell don't give any to those who claim to be UNPROFITABLE like yourself

It would have been quicker to say that you don't give credence to anyone.


Paul

 

[brettus]

It doesn't take an expert to realize that this medbs character's trading plan is complete garbage. I don't give much credence to anyone who claims to be profitable and I sure as hell don't give any to those who claim to be UNPROFITABLE like yourself

I'm not a good trader, i just know what big orders are going on in the markets, as well as following fundamentals. Thats why this thread is BS. I follow fundamentals probably more so that 95% of people on this thread. The guy is just using charts to get his levels, which i think can work, but the guy isnt even following the trend. Swiss National Bank with 5 yards on the bid, as soon as they pull it eurchf will drop. Thats all you need to know to make money. Buy it on the way back up when they smash it back up. I dont follow indicators, just trends, price action, fundamentals and inside information and it makes me decent wedge. I'm sure someone else could trade my info better but like i said im not good.


Maybe at end of may he gets a call from his broker saying sorry muhammed, we're going to have to close you down.

 

[meanreversion]

Maybe at end of may he gets a call from his broker saying sorry muhammed, we're going to have to close you down.

Why would the broker wait until the end of the month, I suspect he would have closed him down by now.

He's only trading a demo account anyway, plus some of the trades he reported he falsified the rates. The whole thing is bogus.

 

[brettus]

Why would the broker wait until the end of the month, I suspect he would have closed him down by now.

He's only trading a demo account anyway, plus some of the trades he reported he falsified the rates. The whole thing is bogus.

If its a demo account then i suspect they are calling him up and telling him hes been a bit unlucky and he had 14 good trades maybe you can put 100k in and we can B-Book you. Like i said before if Medbs wants to open an account with us, i'm more than happy to B-book him.

I suspect he told his broker "So please: No margin calls before the end of the month of May."

 

[bbmac]

no holy grail - lol!!

This mornings falls have seen an end to the supposed/disputed 100% win rate

Unrealised losses on a/c at the lows on the 3 open trades were

eurusd -37.7% and -42.7% on the 2 x open trades
gbpusd -27.3% on the open trade
audusd - 9.8% on the open trade

Total - 117.5% of the a/c

 

[meanreversion]

This strategy was to cut winners and run losers. Also, to trade countertrend. I think those are two of the main reasons why a strategy will lose money over time. (Another one is overtrading, although I don't think that applied here)

 

[bbmac]

At it's current 4248 low, the gbpusd was -902 pips in the red for the sake of being right. I am assuming that Medbs still has these trades open as he hasn't posted to the contrary, or perhaps he has abandoned this thread, and if I were him, I would look again at the money management underpinning the trading edge he is using. Whatever the case G/L to him, It's been emotional !

 

[Dinos]

Re: no holy grail - lol!!

This mornings falls have seen an end to the supposed/disputed 100% win rate

Unrealised losses on a/c at the lows on the 3 open trades were

eurusd -37.7% and -42.7% on the 2 x open trades
gbpusd -27.3% on the open trade
audusd - 9.8% on the open trade

Total - 117.5% of the a/c

Says it all really, where is mebds,not being on since 13/5/10, wonder why, wonderering how he will try and talk his way out of this one, I'm sure we will all be wrong, but we know we were right

IMHO, trading without stops is like putting to sea in a boat with holes in the bottom, eventually, you be overcome and you will sink, as simple as that!