Account Analysis -- Opinions Wanted
Apr 14, 2013 at 06:58
630 Angesehen
2 Replies
Apr 14, 2013 at 06:58
(bearbeitet Apr 14, 2013 at 00:20)
I started a small account back in late 2012. I had seemingly good success in the first few months of the account, however I believe I was over-leveraging. I then had a really bad run by continuing to stack shorts on USD/JPY until I was margined out of the positions. The initial strategy was to add another position if the trade started going against me. When the trade did finally go in the direction I chose, the 2nd, 3rd or even 4th positions would all be green while the first loser reduced its loss. This strategy compounded profits nicely if in fact the trade did go the right way. However, in the case of the USD/JPY, it never did come down, while I continued to add short positions.
After 2012, I stepped back and took a more conservative style of trading, not opening too many positions and closing them out if it went against me too much, rather than stacking more positions.
Im looking for some feedback on the success I've had in 2013. The account was around $130.00 and now is at $380 in 4 months. This represents what I think it a really good gain and my drawdown has been pretty minimal.
Please provide some honest feedback.
https://www.myfxbook.com/portfolio/candlestickpro-alpari1/416570
Thanks!!
After 2012, I stepped back and took a more conservative style of trading, not opening too many positions and closing them out if it went against me too much, rather than stacking more positions.
Im looking for some feedback on the success I've had in 2013. The account was around $130.00 and now is at $380 in 4 months. This represents what I think it a really good gain and my drawdown has been pretty minimal.
Please provide some honest feedback.
https://www.myfxbook.com/portfolio/candlestickpro-alpari1/416570
Thanks!!
Mitglied seit Aug 29, 2011
63 Posts
Apr 14, 2013 at 18:24
I see you have no goals set. never add to a loser. maintain a 2:1 reward to risk ratio with 42% or better winners. If a trade is going against you dont add to the loser only add to winners, adding to losers is insane like throwing fuel on a fire to put it out. your average wins are 44pips your average losses are 105pips turn this ration around and you will make good money. time is money for me i dont know about you but i would rather cut my losers short and add to winners and let them run.
You will never go broke by taking profits
Apr 14, 2013 at 20:56
I agree, I need to follow a more strict RR profile. I get out of the winners to early trying to lock in gains, and I let the losers go to far south hoping for recovery.
Stacking losers clearly adds too much risk on an account of my size. I supposed if I was trading mini lots on a 50K account then i could accumulate a position over time, but its certainly better to be on the right side of the trade.
You'd think statistically you have a 50/50 chance of making the right choice, but it really doesn't work out this way.
100% of my trades will go against me for some time. Even if I made the right decision for the longer term of the trade, I could be stopped out prematurely just based on my entry...
FWIW: I try to trade mainly on the daily or 4H. I'll work my way down to lower timeframes as I prove some consistency.
Best,
Kris
Stacking losers clearly adds too much risk on an account of my size. I supposed if I was trading mini lots on a 50K account then i could accumulate a position over time, but its certainly better to be on the right side of the trade.
You'd think statistically you have a 50/50 chance of making the right choice, but it really doesn't work out this way.
100% of my trades will go against me for some time. Even if I made the right decision for the longer term of the trade, I could be stopped out prematurely just based on my entry...
FWIW: I try to trade mainly on the daily or 4H. I'll work my way down to lower timeframes as I prove some consistency.
Best,
Kris
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