Dream To Becoming A Trader

[monet]

You might have something... or you might not.

Your overall performance stats (average win vs average loss, and win ratio) are good, but will you be able to continuously achieve these? And a simple mean doesn't tell the whole story.

Some things that could be problematic:

1. Long losing streaks. Having losing streaks of ~10 is not desirable. If losing streaks of 10 commonly happen, then it's likely you will experience longer losing streaks in the future. However, it is good that you've kept your losers small.

2. The majority of your profit is made with a handful of trades.

3. Some of your wins are very small and could be considered scratch trades, meaning your practical win rate is less than 49%.

4. Were realistic spreads/commissions applied?


Factoring in points 2, 3, and 4, your expectancy is probably not as good as it seems at face value. But if you were able to consistenty achieve 1% net per week, that would still be worthwhile

Interested to see how you do during the next two weeks.

 

[earth_imperator]

One needs to have made a million dollar by trading, as a requirement for applying for a trading job...
Of course the question arises: why look for such a job...

 

[Siddharth]

View attachment 315304

You might have something... or you might not.

Your overall performance stats (average win vs average loss, and win ratio) are good, but will you be able to continuously achieve these? And a simple mean doesn't tell the whole story.

Some things that could be problematic:

1. Long losing streaks. Having losing streaks of ~10 is not desirable. If losing streaks of 10 commonly happen, then it's likely you will experience longer losing streaks in the future. However, it is good that you've kept your losers small.

2. The majority of your profit is made with a handful of trades.

3. Some of your wins are very small and could be considered scratch trades, meaning your practical win rate is less than 49%.

4. Were realistic spreads/commissions applied?


Factoring in points 2, 3, and 4, your expectancy is probably not as good as it seems at face value. But if you were able to consistenty achieve 1% net per week, that would still be worthwhile

Interested to see how you do during the next two weeks.

Ya absolutely I will profitable continuously. Because I believe in my self and my process and here my plan I will use it as 20-20-30-30 ratio for each 2 week if I profitable continously if not then cut it half and streched it for long period so it will no issue on my money managemant and most importanly I will risk only 2-4% of risk per trade of used capital not whole if you provide it.

 

[NoahA]

2. The majority of your profit is made with a handful of trades.

This is something I see over and over again from the guys who are doing well. I wouldn't call this a negative. Its actually the thing that makes most traders profitable.

 

[kmiklas]

Use a broker with high leverage.
500:1 brokers are available in forex.
https://55brokers.com/high-leverage-forex-brokers/

500:1?! He could margin call with a 2% move!!!

what rates do they charge?

 

[777]

Is any one who can help me for fund my dream to becoming a trader. I allmost1 and half year working on my skill, I bearly manage it for trade 1 lot in Indian market but dew to my job or living i could not save any money on trading on forex market. I just want 1k $

Why do you think you would be a good trader?

 

[Siddharth]

Why do you think you would be a good trader?

Firstly I don't think I'm a good trader, I'm a trader and I know I can do this as per my personality and skills.

 

[semperfrosty]

View attachment 315304

You might have something... or you might not.

Your overall performance stats (average win vs average loss, and win ratio) are good, but will you be able to continuously achieve these? And a simple mean doesn't tell the whole story.

Some things that could be problematic:

1. Long losing streaks. Having losing streaks of ~10 is not desirable. If losing streaks of 10 commonly happen, then it's likely you will experience longer losing streaks in the future. However, it is good that you've kept your losers small.

2. The majority of your profit is made with a handful of trades.

3. Some of your wins are very small and could be considered scratch trades, meaning your practical win rate is less than 49%.

4. Were realistic spreads/commissions applied?


Factoring in points 2, 3, and 4, your expectancy is probably not as good as it seems at face value. But if you were able to consistenty achieve 1% net per week, that would still be worthwhile

Interested to see how you do during the next two weeks.

This is awesome Monet!

Great experiment!

 

[777]

Firstly I don't think I'm a good trader, I'm a trader and I know I can do this as per my personality and skills.

What skills and personality traits do you bring to the table?

I will offer this: ideally you want to develop relationships with people who are successfully doing what you want to do, and mostly stay away from gurus-for-hire.

 

[Siddharth]

What skills and personality traits do you bring to the table?

I will offer this: ideally you want to develop relationships with people who are successfully doing what you want to do, and mostly stay away from gurus-for-hire.

In simple terms I basically use price action + choosing script based on seasons + important news.