• Home
  • Managed Accounts
  • Trade Room
  • Forums

Announcement

Collapse
No announcement yet.

Balboa says Keep Dreaming.

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Balboa says Keep Dreaming.

    Greetings,
    Its been a while. I have developed some better strategies in trading the 4hr 6hr 12hr 16hr and 24hr charts. I have let go of the 3hr and 1hr charts as I believe they were responsible in messing up my profitability. Reason being I couldn't keep up with the shorter time frame whilst trading over 30 pairs which means I was missing out on alot of profitable setups.

    For my strategy to be profitable long term I need to trade every setup. Trading the higher time frames makes it very possible and with the help of a programmer I have also been able to set up alarms that trigger on my phone should a setup form on the charts.

    Anyways here is myfxbook link. This time I am expecting good long term consistency, safety and profitability.

    https://www.myfxbook.com/members/Tra...eaming/1587654

    cheers

    PS: Just to add that risk per trade is 1%. I will be shooting for a 2% to 3% target. Will close out of some trades early if my indicator hints at a reversal.
    Last edited by Balboa; 11-04-2016, 06:37 PM.
    https://www.myfxbook.com/members/TraderAl/ring/1805405

    https://www.myfxbook.com/members/Tra...eaming/1587654

  • #2
    This month has been a good month for a lot of traders with the market providing some fantastic opportunities weeks prior to Brexit and post Brexit. For the seasoned trader this month would have been a month of harvest. For the rookie trader this month would have been a disaster. Many top Hedge Fund and Prop traders made phenomenal returns this month. I had it no different. My account grew by 9.6% this month.

    As I begin to reflect my performance over the last 3 months I begin to feel that I have alot in common with the best hedge fund traders when it comes to money management. I was reading an article whereby the top traders tend to have more losing trades then winning trades. However the dollar value of their winning trades is atleast twice as large as the dollar value of their losing trades.

    I am sincerely beginning to believe that a positive Reward:Risk ratio is the recipe for safe trading and long term success. This article below sums it up very well Mr Hanbury, 36, commissioned a private poll which put Remain narrowly ahead.But he decided to take a risk on the basis there was a lot to gain and little to lose, given the pound might drop massively if Britain quit but was unlikely to rise much higher if it voted to stay.

    http://www.dailymail.co.uk/news/arti...nd-tumble.html


    Happy trading and good luck for July.

    https://www.myfxbook.com/members/Tra...eaming/1587654


    Balboa
    "It's not how hard you can hit. It's how hard can you get hit and keep moving forward"
    https://www.myfxbook.com/members/TraderAl/ring/1805405

    https://www.myfxbook.com/members/Tra...eaming/1587654

    Comment


    • #3
      Finished July with 0.63% gain.

      Best of luck for August

      https://www.myfxbook.com/members/Tra...eaming/1587654
      https://www.myfxbook.com/members/TraderAl/ring/1805405

      https://www.myfxbook.com/members/Tra...eaming/1587654

      Comment


      • #4
        Balboa vs Nick's Elite. I would like to compare my performance against Nick's Elite traders. It will be a ranking based format. I will update the table every so frequently.



        So the current rank table for 2016 is as follows:

        Steady Capture = +33.2%

        GoldStar = +13%

        Viper = +10.4%

        Smart2 = +5.9%

        BALBOA = -0.1%

        Kilimanjaro = -5.2%
        https://www.myfxbook.com/members/TraderAl/ring/1805405

        https://www.myfxbook.com/members/Tra...eaming/1587654

        Comment


        • #5
          Originally posted by Balboa View Post
          Balboa vs Nick's Elite. I would like to compare my performance against Nick's Elite traders. It will be a ranking based format. I will update the table every so frequently.



          So the current rank table for 2016 is as follows:

          Steady Capture = +33.2%

          GoldStar = +13%

          Viper = +10.4%

          Smart2 = +5.9%

          BALBOA = -0.1%

          Kilimanjaro = -5.2%

          You are nothing if you're not persistent

          (background - Balboa has hit me up probably 6 times asking him to allocate him money in the trading room because he's thinks he's superior trader)

          I'll give you the same advice that I've been giving you the entire time, you need to trade a live account. You can't compare the returns of a professional, controlling millions of dollars with a track record dating back years, to your demo account.

          Would you like free lifetime access to our forex trading room?

          Open an account at Blueberry Markets and save the $79/monthy fee.

          Click here to find out more.

          Comment


          • #6
            You can't compare the returns of a professional, controlling millions of dollars with a track record dating back years, to your demo account.

            Fair point Nick.

            With my strategy whether you trade demo or real it doesn't make any difference because my average Stop loss is around 100 pips and average Take Profit is around 200 to 500 pips. It's not a scalping strategy where a small difference in spreads between a demo and real account could make a huge difference to the results. I want to prep myself to trade large accounts like 10 million dollar MAMs and this 100k demo is a great start for me. You can see I am treating it as if it were a real account and there is no care free trading or care less trading.

            Bottom line I want to show the thousands on this site that I am the guy that can consistenly provide good profits in the long term regardless of Market conditions. I want to show them that at the very least I can be profitable just like your Elite Pros and possibly PERFORM EVEN BETTER over time.

            https://www.myfxbook.com/members/TraderAl/ring/1805405

            https://www.myfxbook.com/members/Tra...eaming/1587654

            Comment


            • #7
              you say fair point to Nick but then go on and disregard what he is saying,

              no Balboa, having a 100k demo account you are treating as real is NOTHING like a live account with connected clients worth millions of pounds,

              what you are showing is worth nothing really mate

              sorry to say but demo is not the same, disregard you sl and tp's are lots of pips, its still a demo account with no connected clients, and it is NOT REAL, waste of time
              http://www.myfxbook.com/members/dupapa

              Comment


              • #8
                LOL. Any fool can make money on a demo account. Watch what happens to your mental state (and returns) when cash is at risk. The challenge of trading is primarily psychological, not technical.
                Last edited by Mike O; 08-03-2016, 07:02 PM.

                Comment


                • #9
                  Originally posted by Mike O View Post
                  LOL. Any fool can make money on a demo account. Watch what happens to your mental state (and returns) when cash is at risk. The challenge of trading is primarily psychological, not technical.

                  And this is the point I'm trying to make. Sure, you can trade the same strategy, but can you hold winners/losers for days when the impact of those trades makes a real difference to your financial well being?

                  We'll never know unless it's tested, and a demo doesn't do that.

                  You should work at winning one of the $500 live accounts we're giving away in the trading room and then use that to build your track record.
                  Would you like free lifetime access to our forex trading room?

                  Open an account at Blueberry Markets and save the $79/monthy fee.

                  Click here to find out more.

                  Comment


                  • #10
                    appreciate the comments fellow traders. I am going to continue with my 100k demo account. I just like the feeling of trading big money. To me it feels rewarding and real. Please judge me on my trading abilities. I am risking only 1% per trade so in response to Nick's question

                    but can you hold winners/losers for days when the impact of those trades makes a real difference to your financial well being? I have the Paul Tudo Jones Mindset. I don't like big losses on a single trade. Holding onto losers for days does not apply to me as I always have a pre-determined SL in place. Holding onto winners no problem. My strategy is mechanical and I have 4 indicators that trigger me to get out of a trade if a reversal has begun.

                    My 1st target is to get the account to 10% and then begin advertising as a signal provider and MAM service. In the signal provider option you will only pay me when you make money. So for example you pay me 20 for every 1% you make . I don't want to be taking money of my clients if I am not making them money. Will go more into that at a later stage. Right now I want to focus on getting a good equity curve.

                    Today's business. A heartbreak trade. Closed my AUDNZD position for 240 gain (0.24%). This trade got as high as 1600 with my target being 2000 before it reversed on me and I closed out at 240.



                    So the current rank table for 2016 is as follows:

                    Steady Capture = +33.4%

                    GoldStar = +13%

                    Viper = +10.4%

                    Smart2 = +5.9%

                    BALBOA = +0.14%

                    Kilimanjaro = -3.31%


                    The ranking for August is as follows

                    Smart2 = +1.03%

                    Steady Capture = +0.66%

                    BALBOA = +0.24%

                    Viper = +0.09%

                    Kilimanjaro = +0.07%

                    GoldStar = +0%


                    **Next Ranking updates will be provided when my next trade closes**
                    https://www.myfxbook.com/members/TraderAl/ring/1805405

                    https://www.myfxbook.com/members/Tra...eaming/1587654

                    Comment


                    • #11
                      Originally posted by Balboa View Post
                      Please judge me on my trading abilities.
                      You still don't get it. Demo performance is NOT a demonstration of trading abilities. It doesn't matter what you say or how well you perform on a demo account. Demo trading is not the same.

                      Comment


                      • #12
                        Here's my demo performance last week. http://www.myfxbook.com/members/mourednik/demo/1734027. 7% return with 1% drawdown. Doesn't mean shit! Too easy on a demo.

                        Comment


                        • #13
                          Balboa,

                          Please take note of the other guys taking the trouble to post here.
                          You will not be able to market a signal if you have only been trading a demo account. No one will take you seriously.
                          It doesn't need to be a large account, but it must be a significant amount of money to you.
                          If you can't afford it, save up until you can. You may think you are trading your demo as a real account, but you will not appreciate the difference until you do.
                          I wish you all the best.

                          Bill

                          Comment


                          • #14
                            Originally posted by BillHuppert
                            Balboa,

                            Please take note of the other guys taking the trouble to post here.
                            You will not be able to market a signal if you have only been trading a demo account. No one will take you seriously.
                            It doesn't need to be a large account, but it must be a significant amount of money to you.
                            If you can't afford it, save up until you can. You may think you are trading your demo as a real account, but you will not appreciate the difference until you do.
                            I wish you all the best.

                            Bill
                            Yes exactly, also aiming to promote a signal and target running a fund after achieving 10% of profit is not a good plan to follow add to that the demo issue and I see that you won't go anywhere with that

                            Invest in a real account even if it is 1000$ and have a good history for 3 months and this will be the real Kickstart for your journey to achieve your goals

                            Sent from my Nexus 6 using Tapatalk

                            Comment


                            • #15
                              Of course a demo trading result does have some value, just not as much value as you promote. Demo accounts are valuable for educational purposes. The public could not care less, however.

                              Comment

                              Working...
                              X