I had to wait all day for this entry (blue line) on USDCAD, if it didn't hit, I would have something else to do. If it got stopped out, I wouldn't have lost much. Now I am at breakeven on the trade. Good chance it gets stopped out, but that's fine. Small loss, small loss, small win, big win, that's what I aim for in pnl.
My attempt to earn a funded account with Earn2Trade
- Thread starter SelfMadeDude
- Start date
Ug, you and your forex. Blah!
The trend (for the most part) reverses once on time frames I care about. I have not been caught on a trend reversal in a long time because the signs are always there and it's just my greed that gets me caught. That's another reason why I am starting to trade multiple assets. I literally forget what chart I'm looking at half the time.
forex was my first love, I will slay that bitch.
You guys can never win in the market,
You're constantly getting whipsawed and whiplashed around....thinking you have process, understanding and wisdom of the trade.
You're just hoping and praying and gambling you have more positives than negatives in the end, random storm, tally,
I think you'll agree that dollar cost averaging the 500 biggest public companies in the USA is profitable, yes?
If true, then edge will be dollar cost averaging without the same drawdown.
Morning Checklist:
1) Did not trade last night
2) Went to the gym: heavy bag, cardio and lots of stretching and 1-leg balance
3) Exceptionally well-hydrated
4) Good night HR, BPM and HRV stats
5) Pre-frontal cortex exercise
*** Make this your habit over the next 3 weeks ***
1) Did not trade last night
2) Went to the gym: heavy bag, cardio and lots of stretching and 1-leg balance
3) Exceptionally well-hydrated
4) Good night HR, BPM and HRV stats
5) Pre-frontal cortex exercise
*** Make this your habit over the next 3 weeks ***
none of which is needed, just go make some friends
Indeed, my conclusion is that OP has no real viable system. He should stop everything and go back to the drawing board to build a real and profitable system before doing anything. Earn to trade or any similar thing is just a waste of money.
If he wants to try something, he should open an account at Ninjatrader for less than $1,000, receive free realtime datafeed, and trade just one contract MES till he can proof his consistency. With $1,000 he can lose about 100 points (plus commission) before he reaches the $400 minimum account he needs to trade. If he loses indeed 100 points he should ask himself if trading is a good decision. and at that point he only lost $600 in total.
If he has a job to pay the bills, he can continue this Ninjatrader experiment for a long time as he has only his losses to pay, no datafeed or anything ealse (except of course commission). That's the cheapest solution.
When I see the statements he posts, I arrive to the following conclusions (based on data that is sometimes confusing and maybe not correct because of that confusion):
First attempt:
he made in 12 trading day $396.13 net profit (after commissions) in 253 contracts. So that's $1.57 per contract, close to zero, and confirms that his system does not work at all.
Second attempt:
he made in 35 trading day $2762.04 net profit (after commissions) in 560 contracts. So that's $4.93 per contract, close to zero, and confirms that his system does not work at all.
Third attempt:
he made in 22 trading day $4,862.6 net profit (after commissions) in 1,294 contracts. So that's $4.52 per contract, close to zero, and confirms that his system does not work at all.
It is not clear which contracts he traded, ES or MES, so I have to show the real results if trading:
- ES: 2,170 contracts in total for $8,020.83 ,net profits. At $50 per point that means he made average $3.696, or 0.07 points per contract. That is basically ZERO.
- MES: 2,170 contracts in total for $8,020.83 ,net profits. At $5 per point that means he made average $3.696, or 0.75 points per contract. That is basically ZERO.
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