What makes one a Professional Trader?
เป็นสมาชิกตั้งแต่ Jan 25, 2010
1360 โพสต์
Feb 10, 2019 at 15:23
niceGLer posted:
I think probably you both are on a different scale talking about the same thing: trading.
If one is trading in 15M time frame that trader can use a bigger lot size than the guy trading 1D. Stop loss can be smaller than the 1D guy uses. Similar set up on both ends can have a devastating effect to the other.
If one starts small then he either ´dies´ or succeeds and then he is a pro and no longer has less than 10k in his account.
Regardless of TF... Flash Crashes, Black Swans, etc...
If you trade larger Lotsizes, no matter 15M or 1D, it WILL HURT!
Trust me: I had $13 million, and despite keeping trades to a minimum lotsize, some positions I held over 50 days on AUDJPY killed my accounts!!!
You better think twice if you want to trade larger. Just a warning... great if you are on the RIGHT side, devastating if WRONG.
เป็นสมาชิกตั้งแต่ Feb 22, 2011
4862 โพสต์
Feb 11, 2019 at 11:03
Once again,
you propose your risk mgmt is the best for someone else.
It is not.
professional trader has to follow trading plan.
Trading plan has to define trae size and risk.
It could be any number which is working for you.
I can for example imagine trading 1 lot trades on 1,000 account. With tight SL TP it will work as long as majority of trades will be profitable.
you propose your risk mgmt is the best for someone else.
It is not.
professional trader has to follow trading plan.
Trading plan has to define trae size and risk.
It could be any number which is working for you.
I can for example imagine trading 1 lot trades on 1,000 account. With tight SL TP it will work as long as majority of trades will be profitable.
เป็นสมาชิกตั้งแต่ Jan 25, 2010
1360 โพสต์
Feb 12, 2019 at 09:30
togr posted:
Once again,
you propose your risk mgmt is the best for someone else.
It is not.
professional trader has to follow trading plan.
Trading plan has to define trae size and risk.
It could be any number which is working for you.
I can for example imagine trading 1 lot trades on 1,000 account. With tight SL TP it will work as long as majority of trades will be profitable.
#1. It is not my advice - take it from a 19 year veteran:
'Trade SO Crazy small that no one trade can make or break you! LEARN to take 5-12 pips on scalps......'
https://www.twitlonger.com/show/n_1sqdkr1
https://www.twitlonger.com/show/n_1sqdkq1
#2. I don't have a vested interest in encouraging bad trading, for the purpose of garnering subscribers to my signals
เป็นสมาชิกตั้งแต่ Jan 25, 2010
1360 โพสต์
Feb 12, 2019 at 09:31
togr posted:
I can for example imagine trading 1 lot trades on 1,000 account. With tight SL TP it will work as long as majority of trades will be profitable.
I hope you are not serious, but if you truly believe what you say then I question your credentials / experience.
Sincerely, I hope you are making millions, but 99% of traders cannot achieve such trading finesse and they would be wiser to use a larger account and smaller trade sizes.
เป็นสมาชิกตั้งแต่ Feb 22, 2011
4862 โพสต์
Feb 12, 2019 at 09:40
BluePanther posted:togr posted:
Once again,
you propose your risk mgmt is the best for someone else.
It is not.
professional trader has to follow trading plan.
Trading plan has to define trae size and risk.
It could be any number which is working for you.
I can for example imagine trading 1 lot trades on 1,000 account. With tight SL TP it will work as long as majority of trades will be profitable.
#1. It is not my advice - take it from a 19 year veteran:
'Trade SO Crazy small that no one trade can make or break you! LEARN to take 5-12 pips on scalps......'
https://www.twitlonger.com/show/n_1sqdkr1
https://www.twitlonger.com/show/n_1sqdkq1
#2. I don't have a vested interest in encouraging bad trading, for the purpose of garnering subscribers to my signals
1. I do take verified results on myfxbook
2. Again bad trading, good trading. You are not the one to decide. Everyone has to have its own trading plan.
เป็นสมาชิกตั้งแต่ Jan 25, 2010
1360 โพสต์
Feb 12, 2019 at 09:48
togr posted:
I can for example imagine trading 1 lot trades on 1,000 account. With tight SL TP it will work as long as majority of trades will be profitable.
And here I was, thinking you were a 'professional trader' who understood the meaning of 'proper risk management'.
You have proven me wrong.
เป็นสมาชิกตั้งแต่ Jan 25, 2010
1360 โพสต์
Feb 12, 2019 at 09:48
togr posted:
Once again,
you propose your risk mgmt is the best for someone else.
It is not.
professional trader has to follow trading plan.
Trading plan has to define trae size and risk.
It could be any number which is working for you.
I can for example imagine trading 1 lot trades on 1,000 account. With tight SL TP it will work as long as majority of trades will be profitable.
Considering what you say, I bet you don't trade more than $100,000, because I cannot fathom even an insane person trading 100 Lots on $100k, let alone 1 Lot on $1000.
I had trades of 20 Lots on my $5m account and I was getting slippage and partial fills, so I had to split my money and trade smaller accounts.
The Yen Flash Crash slipped me so bad I couldn't get filled at the prices that would have saved my account - and I was using much less risk than what you are advocating!
I am speaking from experience, so I know you really don't understand what you are saying.
เป็นสมาชิกตั้งแต่ Feb 22, 2011
4862 โพสต์
Feb 12, 2019 at 11:56
@BluePanther
Last comment. Professional trader is not the one who follows your advice on trade size.
Professional traders is the one who follows his own trading plan with whatever trade size which is working for him.
Last comment. Professional trader is not the one who follows your advice on trade size.
Professional traders is the one who follows his own trading plan with whatever trade size which is working for him.
เป็นสมาชิกตั้งแต่ Feb 22, 2011
4862 โพสต์
Feb 12, 2019 at 12:47
BluePanther posted:togr posted:
I can for example imagine trading 1 lot trades on 1,000 account. With tight SL TP it will work as long as majority of trades will be profitable.
I hope you are not serious, but if you truly believe what you say then I question your credentials / experience.
Sincerely, I hope you are making millions, but 99% of traders cannot achieve such trading finesse and they would be wiser to use a larger account and smaller trade sizes.
Do you know you yourself do trade almost 0.5 lot per 1,000?
Like these trades on 7k balance
01.30.2019 07:34 01.30.2019 08:00 AUDUSD Buy 3.63 - - 0.71982 0.71990 0.8 14.93 25m 0.20%
01.30.2019 22:03 01.30.2019 22:04 GBPUSD Buy 3.55 - - 1.31168 1.31102 -6.6 -347.52 55s -4.47%
01.29.2019 22:33 01.29.2019 23:00 GBPUSD Sell 3.39 - - 1.30841 1.30772 6.9 303.38 26m 4.41%
forex_trader_458816
เป็นสมาชิกตั้งแต่ Sep 11, 2017
124 โพสต์
Feb 12, 2019 at 14:38
I admire both of you.
เป็นสมาชิกตั้งแต่ Jan 25, 2010
1360 โพสต์
Feb 13, 2019 at 12:20
togr posted:
2. Again bad trading, good trading. You are not the one to decide. Everyone has to have its own trading plan.
But I am the one to decide! If you don't follow my risk management (yes, of course it is mine) then you are definitely not a professional trader (sarcasm). I guess that means you are unprofessional since you don't follow my advice? No surprise.
togr posted:
Do you know you yourself do trade almost 0.5 lot per 1,000?
Like these trades on 7k balance
01.30.2019 07:34 01.30.2019 08:00 AUDUSD Buy 3.63 - - 0.71982 0.71990 0.8 14.93 25m 0.20%
01.30.2019 22:03 01.30.2019 22:04 GBPUSD Buy 3.55 - - 1.31168 1.31102 -6.6 -347.52 55s -4.47%
01.29.2019 22:33 01.29.2019 23:00 GBPUSD Sell 3.39 - - 1.30841 1.30772 6.9 303.38 26m 4.41%
Not sure which account you refer to, however none of my public accounts are my primary account with the majority of my funds.
The public accounts are not traded at the level of risk I would prefer, and they actually run systems I do not have full confidence using upon my main account. Hence, there may be larger than normal trades upon them.
0.5 Lots per $1000 is a great deal less than 1 Lot per $1000.
This means 50% less:
- margin requirement;
- drawdown;
- profit;
- RISK.
Feb 13, 2019 at 13:45
I just dont get how the yen flash crash could ruin your account, that you keep saying, since even with 50 lots on a 5m account the worst result was no more than 4% loss with that 400pips that happened. or do you even leverage up like crazy an account like that?
Coz without leverage ppl shouldn`t even use stop losses, so you`d be perfectly fine.
Coz without leverage ppl shouldn`t even use stop losses, so you`d be perfectly fine.
เป็นสมาชิกตั้งแต่ Jan 25, 2010
1360 โพสต์
Feb 14, 2019 at 08:20
Gabor33 posted:
I just dont get how the yen flash crash could ruin your account, that you keep saying, since even with 50 lots on a 5m account the worst result was no more than 4% loss with that 400pips that happened. or do you even leverage up like crazy an account like that?
Coz without leverage ppl shouldn`t even use stop losses, so you`d be perfectly fine.
You are looking at one pair of 400 pips? I had trades on both AUDJPY and NZDJPY, the systems I was using opened in a linear-sequence cost-averaging, so although less risk than GM it still increases more than static lots.
I expected only market movements of $20,000 per 0.01 starting Lots, but this was insufficient (obviously).
You gotta increase your risk if you trade larger, otherwise what is the point of having millions and not making money on that? You might as well put it in the bank at 0 risk and lose your money over time to inflation.
forex_trader_458816
เป็นสมาชิกตั้งแต่ Sep 11, 2017
124 โพสต์
Feb 15, 2019 at 13:55
BipinBike posted:I'm using 1000 leverage and so far bigger move like flash crash on 3 Jan 2019 did not wipe out all my money yet 😂
Most people use 100+ leverage so a 400 pip move can easily destroy an account . Some broker even offer 1000 leverage so a smaller move could wipe out all money
Feb 15, 2019 at 14:02
BluePanther posted:
You gotta increase your risk if you trade larger, otherwise what is the point of having millions and not making money on that? You might as well put it in the bank at 0 risk and lose your money over time to inflation.
I just don`t know what you`re talking about... you don`t make sense. if i had 5 million, i would never ever use leverage again. Thats the best risk management bcoz your account can easily survive a move even as big as the CHF one few years ago. All i would need to do is make on average a few hundred pips monthly, that would get me lets say 4-5% return which is about 50% return in a year, i guess you can calculate 50% of 5 million... which bank does that for you?
Ive read this 'argument' in this thread and i think that vontogr dude knows what he`s talking about, but you are, my friend, just chatting s..t all over the place. How can someone talk about good risk management and then fk up a 5m account when a little, few hundred unexpected move happens?
Are you trying to sell something here? maybe just go back to learn instead of advertising yourself.
Feb 20, 2019 at 07:01
BipinBike posted:
Most people use 100+ leverage so a 400 pip move can easily destroy an account . Some broker even offer 1000 leverage so a smaller move could wipe out all money
I don’t think, leverage is the key! In Forex, your knowledge is the key; when you have enough knowledge then you’ll be able to use these kind of trading features so smartly.
เป็นสมาชิกตั้งแต่ Sep 28, 2013
26 โพสต์
Feb 20, 2019 at 07:12
Gabor33 posted:BluePanther posted:
You gotta increase your risk if you trade larger, otherwise what is the point of having millions and not making money on that? You might as well put it in the bank at 0 risk and lose your money over time to inflation.
I just don`t know what you`re talking about... you don`t make sense. if i had 5 million, i would never ever use leverage again. Thats the best risk management bcoz your account can easily survive a move even as big as the CHF one few years ago. All i would need to do is make on average a few hundred pips monthly, that would get me lets say 4-5% return which is about 50% return in a year, i guess you can calculate 50% of 5 million... which bank does that for you?
Ive read this 'argument' in this thread and i think that vontogr dude knows what he`s talking about, but you are, my friend, just chatting s..t all over the place. How can someone talk about good risk management and then fk up a 5m account when a little, few hundred unexpected move happens?
Are you trying to sell something here? maybe just go back to learn instead of advertising yourself.
I have to agree with Gabor33 & Vontogr. Matt A.K.A 'BluePanther', you go on and on about 'Risk Management' and actually you lost nearly 15M, proof in my attachment and worse than that.
I am shocked someone even sent $5.00 and was the $100.00 donation you or a friend, would love to know. You may think I am hitting back at you, but I am not, what I am saying is think twice what you say about other traders here, that seem to know more than you Matt Todorovski. I use to admire the way you conducted yourself, but alias not anymore, and you are welcome to hit back at me if you so wish?
Stephen Smith.
ไฟล์แนบ :
เป็นสมาชิกตั้งแต่ Jan 25, 2010
1360 โพสต์
Feb 20, 2019 at 09:48
Gabor33 posted:
I just dont get how the yen flash crash could ruin your account, that you keep saying, since even with 50 lots on a 5m account the worst result was no more than 4% loss with that 400pips that happened. or do you even leverage up like crazy an account like that?
Coz without leverage ppl shouldn`t even use stop losses, so you`d be perfectly fine.
I guess no explanation would suffice for you.
Good luck then.
เป็นสมาชิกตั้งแต่ Jan 25, 2010
1360 โพสต์
Feb 20, 2019 at 09:51
goldeneye007 posted:
I have to agree with Gabor33 & Vontogr. Matt A.K.A 'BluePanther', you go on and on about 'Risk Management' and actually you lost nearly 15M, proof in my attachment and worse than that.
I am shocked someone even sent $5.00 and was the $100.00 donation you or a friend, would love to know. You may think I am hitting back at you, but I am not, what I am saying is think twice what you say about other traders here, that seem to know more than you Matt Todorovski. I use to admire the way you conducted yourself, but alias not anymore, and you are welcome to hit back at me if you so wish?
Stephen Smith.
Yeah, what do I know anyway?
Good luck to you also.
