TOTW What's the best trade you ever made?

[rawrschach]

My perspective is expectancy. Trading is about expectancy. You have no control over the outcome.

How well you traded depends on the answer to the question 'could you have done any better given the information you had at the time?'. If you are consistently following the rules the answer should generally be 'no'.

You are confusing good outcomes and good trades.

 

[forker]

My perspective is expectancy. Trading is about expectancy. You have no control over the outcome.

How well you traded depends on the answer to the question 'could you have done any better given the information you had at the time?'. If you are consistently following the rules the answer should generally be 'no'.

You are confusing good outcomes and good trades.

Isn't an outcome the point of the topic. If instead it was "your best ever rule following day" then as you can imagine, what would be the point of the thread. So I think you are misunderstanding the point and arguing an irrelevant standpoint. Everyone else seems to be discussing their outcomes, not their rules.

 

[rawrschach]

my point is that outcomes do not measure how 'good' a trade is and that it is ignorant to do so

anyway, carry on

 

[forker]

Like squeezing blood from a stone

 

[forker]

The point of trading is to achieve outcomes in the money. Saying that outcomes where money is made isn't a measure of how good a trade is would be an oxymoron.

 

[Forexmospherian]

my point is that outcomes do not measure how 'good' a trade is and that it is ignorant to do so

anyway, carry on

Now part of what you have said here I agree with - outcome alone ie money made does measure how good a trade is - but not if the risk to make that reward it out of sync

As an example - if my normal winnings from a trade are say £100 and lets say 10 -15 pips with a risk of say 5 pips - my risk is well rewarded - ie RR of 2 or even 3

If one day I end up with a 40 pip win - with say £220 result - yes thats better money wise - but if I had used a 40 pip stop to obtain it - its not - I had risked £220 to make £220 - in my books not so good as risking say £50 to make £150.

However for me when I get trades with RR's of 10 - or even 100 - they are far better trades than trades with RR's of 2.

By the way - you do have at outcome of what happens after you have entered your trade. For example - you enter - price moves ups say 12 pips - your target is say 45 pips - It gets to 33 pips - and you think its struggling and news is say 30 mins away

Your target is 45 pips - you are now at 29 pips - but you exit - ie you made a decision effecting the outcome of your trade

The trade moves up to 41 pips and then with news going against you - it then moves 70 pips the other way.

You are pleased - you took a decision right or wrongly to exit a trade at 29 pips rather than make 45 pip target or a possible 41 pips.

Your decision was correct. If you had waited for your target - you would not have got it and instead ended up being stopped out .

That to me would be a very bad trade - ie never let a win go to a loss


Regards


F

 

[neil]

The point of trading is to achieve outcomes in the money. Saying that outcomes where money is made isn't a measure of how good a trade is would be an oxymoron.

No it isn't but I can't be arsed to expand because you have displayed a low expectancy of grasping the subtle differences

Merry Xmas

 

[MajorMagnuM]

This is a retro Dr. A.Andrews session on Gold. Not sure which trade was best

 

[tar]

I see whats going on here , lets say a trader made 1 million doubling his net worth by averaging down in USD/JPY over and over again until he made a profit . Thats not a good trade infact its a terrible one , he could be easily wiped out all his net worth but he got lucky by a few pips !

 

[neil]

Art

This is a retro Dr. A.Andrews session on Gold. Not sure which trade was best

Is this for sale framed or unframed ?

 

[forker]

No it isn't but I can't be arsed to expand because you have displayed a low expectancy of grasping the subtle differences [emoji14]

Merry Xmas

Don't be an idiot. Oh, too late

 

[MajorMagnuM]

This is a retro Dr. A.Andrews session on Gold. Not sure which trade was best

come on

 

[Hound of Culain]

I'm still holding a Eur/Usd short from 1.36. It's by far my most profitable trade to date, in terms of ROI and (unrealized) equity. Didn't take much heat on the entry either, only about 60 pips, IIRC. SL was around 200 pips initially, but it's moved into profit since then. So far I'm up ~110% on my position (and for the year). I've never had a year this good - not by far.

What's most important to me though, is not the money, but rather that this trade has truly become a paradigm shift to me, meaning the way I approach the markets and "trading" has fundamentally changed. Out with TA and the nagging feeling that I'm just gambling my money away, in with a more "mature" and rational fundamental approach. I know this is a long shot, but I hope I will continue to make money for many years to come.

 

[Forexmospherian]

I'm still holding a Eur/Usd short from 1.36. It's by far my most profitable trade to date, in terms of ROI and (unrealized) equity. Didn't take much heat on the entry either, only about 60 pips, IIRC. SL was around 200 pips initially, but it's moved into profit since then. So far I'm up ~110% on my position (and for the year). I've never had a year this good - not by far.

What's most important to me though, is not the money, but rather that this trade has truly become a paradigm shift to me, meaning the way I approach the markets and "trading" has fundamentally changed. Out with TA and the nagging feeling that I'm just gambling my money away, in with a more "mature" and rational fundamental approach. I know this is a long shot, but I hope I will continue to make money for many years to come.

Well Done

You sound like a PPND type trader now

Just out of interest - how many times did you add additional stakes on to your initial sell at the 3600 area?

I wish you continual success in 2015

Regards


F

 

[Hound of Culain]

Well Done

You sound like a PPND type trader now

Just out of interest - how many times did you add additional stakes on to your initial sell at the 3600 area?

I wish you continual success in 2015

Regards


F

Thanks. I've added to my position three times now, always in decreasing increments.