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Členem od Aug 12, 2024
5 příspěvků
Nov 21 at 18:36
Členem od Aug 12, 2024
5 příspěvků
So Im still new to trading, march of last year is my first year trading forex. My first 6 months i traded like most new traders only using TA.... and while trying to master TA all i did was blow my account.... So I had a fellow trader tell me to go back to paper trading and and learn to use Fundamental Analyst and trade only in the direction of the macro trend.... SO i did like he said and paper traded for like 8 months developing a Warren Buffet/George Soros Approach to the market DCA trade in the direction of the macro trend(I use no TA anymore), I use no stop loss and the only thing i worry about is not over leveraging myself and not getting scared out of my position in the process of DCA.... In 3.5 months I have made 120% plus and took back 45% of my initial investment. my goal is to eventually take out the other 55% of my initial investment so i can play with Central Bank Money, i know the major flaws of my strategy how if i DCA against the macro trend or over leverage in the process of trading with the macro i can blow my account quickly. So to mitigate my poor ROE i decided that i will take a percentage out every month after i collected my initial investment, so that way even in the process of blowing an account, I don't really blow an account technically... Any constructive criticism is welcome. and Happy Trading yall.
Thank God
Členem od Sep 27, 2024
1 příspěvků
Členem od Aug 12, 2024
5 příspěvků
forex_trader_3929664
Členem od Nov 19, 2024
42 příspěvků
Nov 22 at 07:52
Členem od Nov 19, 2024
42 příspěvků
Technical trading is my best way of trading, gives me advantage over profits making.
Členem od Oct 24, 2023
11 příspěvků
Nov 22 at 08:43
Členem od Oct 24, 2023
11 příspěvků
This is a very powerful trading approach, but it will mean you have substantial ammuont of money for you to make very good profit in the market. Also, I will recommend you don't throw away your technical analysis knowledge. it will come in handy for risk management. You profitability is really impressive and I give it to you because it takes lot of patience to make such high percentage in this trading space. kudos
Simple Stuff_Just Keep it Simple and Repeat the Simple Stuff
Členem od Aug 12, 2024
5 příspěvků
Členem od Aug 12, 2024
5 příspěvků
Nov 22 at 10:24
Členem od Aug 12, 2024
5 příspěvků
https://www.myfxbook.com/members/GLCooper/career20mode/11056334
here is a audit of my account, i ment to post it on my first post
here is a audit of my account, i ment to post it on my first post
Thank God
Členem od Aug 18, 2019
69 příspěvků
Nov 25 at 17:50
Členem od Aug 18, 2019
69 příspěvků
GLCooper posted:A drawdown of 67.39% is alarmingly high and indicates a fundamental flaw in the risk management of your trading strategy. Such a significant loss means your account would need a gain of over 200% just to recover, which is not sustainable in the long term. This level of risk exposure can lead to severe financial and psychological stress, making it challenging to maintain consistent trading discipline.
https://www.myfxbook.com/members/GLCooper/career20mode/11056334
here is a audit of my account, i ment to post it on my first post
Given the extent of the drawdown, it may be wise to consider starting over with a fresh approach. Prioritize capital preservation by implementing stricter risk management rules, such as limiting position sizes, setting more conservative stop-loss levels, and ensuring better trade diversification. A drawdown of this magnitude is unacceptable and reflects a need to reassess and recalibrate your strategy to focus on stability and longevity.
Adapt, analyze, and achieve — one trade at a time.
Členem od Aug 12, 2024
5 příspěvků
Nov 26 at 08:07
Členem od Aug 12, 2024
5 příspěvků
y8g9NkylxG posted:thanks for the feed back yeah my risk tolerance is very high but then again my account size is only 2k and and at the time when my drawdown was 67% percent i was down like 800 when i only had 1.3kish in my account.... 800 dollars wasn't gonna make or break me, but i will try to be more mindful of my margin used and drawdown....its just that i only trade EUR/USD and i know overall EU is bearish so i tend to hold my drawdowns and just try not to overleverage....GLCooper posted:A drawdown of 67.39% is alarmingly high and indicates a fundamental flaw in the risk management of your trading strategy. Such a significant loss means your account would need a gain of over 200% just to recover, which is not sustainable in the long term. This level of risk exposure can lead to severe financial and psychological stress, making it challenging to maintain consistent trading discipline.
https://www.myfxbook.com/members/GLCooper/career20mode/11056334
here is a audit of my account, i ment to post it on my first post
Given the extent of the drawdown, it may be wise to consider starting over with a fresh approach. Prioritize capital preservation by implementing stricter risk management rules, such as limiting position sizes, setting more conservative stop-loss levels, and ensuring better trade diversification. A drawdown of this magnitude is unacceptable and reflects a need to reassess and recalibrate your strategy to focus on stability and longevity.
Thank God
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