the golden gun said:get over yourself dude!
the first step to becoming a trader is to admit you know nothing about trading.
good luck with your trading.........
the golden gun said:get over yourself dude!
;DAlpha-Bet said:no. transference of capital is preferable.
shopster said:when you hang a set of small cajones out in the wind and they get ripped off pay up.
s
the golden gun said:get over yourself dude!
the golden gun said:Q: What can an experienced trader do with $10K?
A: refer to attachment
Jack said:I'm pretty sure every trader makes a compounding growth table like that on their own at some point. I sure did way back when I first started out. It's just too easy to get focused on the upside when projecting compounding gains like that... but I haven't been a fan of such tables for some time now.
The weak point I see relates to setting goals: The moment you combine that compounded returns table with a calender or time horizon, you create an incentive to over-trade and revenge trade. I talk a bit about this influence in the Points not Dollars section of my thread series. (For clarity, the take away from that link is to keep score in some non-monitory unit, like pips or ticks, but not use an arbitrary unit based daily/weekly/monthly goal in general. Work an edge, let the P/L takes care of itself.)
So yeah, it's great to see what some compounding can do.. but, IMHO, try to avoid going to the next level and attaching some arbitrary goal in a fixed time interval.
InnerCircleTrader said:While aiming for 50 pips per week - some might result in a negative week.
Over the course of a month the "average" per week might align with 50 net pips gained.
The course of a three month period will further smooth the "average" to 50 pips.
sqa said:I came up with "Risk Adjusted Pips per Week" for my goal projecting, which has worked well so far, though getting the progression calculations to work for what a multi-week compounding ends up being took some work. (If you target 4% per week, what is 3 weeks, compounded, valued at the 3rd week in the first week? i.e. if you nail 120 risk-adjusted pips in a week, where does that leave you?)
I also have a spreadsheet for progression, but I looked at it a lot to convince myself this wasn't a complete waste of time.
Jack said:Sure, position sizing progression, based on equity and risk.. that's not bad. And a general compounding table isn't the devil... I did say how it's nice to see what's possible.
I just feel the positives start to get outweighed by the negatives once you start setting a time table for how much you'll be trading in a year's time because you're weekly goal X and compounds at a rate of Y.
I know I'm going to differ from other traders here on this subject, and I'm 100% ok with that... the individual either identifies the tool as worth keeping or discards it should it prove more a distraction from their plan than anything else.
Personally, I just like to focus on what's going on right now. Either there's a valid setup and I'll take a trade, or there isn't and there's no trade yet... a daily goal won't change that.
Jack said:*speaking to everyone*
Think we could be less antagonizing here guys?
rod178 said:Seems as though the Troll cancer has set in. I now have no interest in participation on FXGears. There are better thing to do than wade through this puerile nonsense to find something worthwhile. Jack - feel free to deactivate my account.
Jack said:Yes, but I feel there's a huge difference between aiming to 'average' 50 pips per week over such a long period of time that week-to-week results end up being noise, and directly setting a weekly goal of 50 pips...
One is something you can work toward and might help if that's your bag... the other tempts you to put on that 'one last trade' because you're at 48 pips and need to meet your target.
We'll always find that 'one last trade' if we look hard enough, regardless if it's worth the risk or not.
garry said:go for it golden gun wishing you well and good trading
Alpha-Bet said:see trade. execute trade. win or lose. move on to next trade.
done.
the golden gun said:...
margin call...