Originally posted by arkoon
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Pips can be very relevant thus very easy to analysis, if lotsize is fixed, always the same. Many traders trade at flat lotsize, averaging, or not.
IDEALLY, traders would trade flat lotsize, 1 trade, 1 TP, 1 SL, good risk reward, high win %, ... It would be easier to analyze
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Originally posted by arkoon View PostPips can be very relevant thus very easy to analysis, if lotsize is fixed, always the same. Many traders trade at flat lotsize, averaging, or not.
IDEALLY, traders would trade flat lotsize, 1 trade, 1 TP, 1 SL, good risk reward, high win %, ... It would be easier to analyze
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If lot size is always the same, then if the trader made pips, he made profit. It is when lot sizes are different that the pip count is no longer relevant. For example, if he made 10 trades of same lot size and five trades closed at plus 5 pips, ans 5 trades closed at minus 5 pips..the account is even.. If the 5 winning trades were at twice the lot size of the 5 losing trades, the traders pip count is zero, but he has made a profit since his gain is double the $ of his loss.
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Hello Edwardopp,
The 100 lot entries were platform errors. I never changed those settings, it was a system of 1 standard lot entries. Support didn't know why it had happened and I didn't notice it till it was too late. By the next trade it had been fixed. I had seen a few platform errors over the years but that was the only time I saw that one. The vast majority of followers were unaffected since they followed with their own custom sizings, the few who were didn't complain because they ended up making more.
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I've been in hard analysis mode for a few days now comparing this month's trades to historical data and some of my old notes. I'm definitely finding useful comparisons and positive catalysts. I messed up this time and I'm sorry for it but I'm honestly not the type to dwell on negatives. In my opinion happiness, sadness, greed, fear, elation, despair - none of those have any place at the trading desk because they can compromise your view and I work very hard to maintain my objectivity.
I have to reiterate that from my perspective the disappointing start here has only served to strengthen my resolve. I know how I have created my performance in the past and what it took to do it, I know what improvements I've made over the years and what the catalysts were for those changes and I know that some of the losses were far greater teachers and more insightful than the many months of previous and easier winners.
Onward with the task at hand. It's time to focus and salvage the second half of the year.
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He explained himself enough I think. Better if he focus to what matters, performance. SL was establish and respected, very good point. But what matters now are the coming months. I will observe him and consider in a few months. Market will be here tomorrow.
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Managing that AUD/NZD trade was like watching dew evaporate, the elements I liked were there initially but disappating. I wanted to know why and have been trying to put it into historical context within my records. I maintain Forex trading data and notes going back 8+ years and find it very useful at times for perspective and comparison purposes.
Suffice to say that being able to foresee future compromised trade setups is something I value.
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Originally posted by SteadyCapture View PostManaging that AUD/NZD trade was like watching dew evaporate, the elements I liked were there initially but disappating. I wanted to know why and have been trying to put it into historical context within my records. I maintain Forex trading data and notes going back 8+ years and find it very useful at times for perspective and comparison purposes.
Suffice to say that being able to foresee future compromised trade setups is something I value.
As I've mentioned, I've got no concerns about you punching through equity highs soon enough.
It would have been good if the fog could have stuck around for a few months to keep that dew on your green, pip coloured grass enabling us to harvest before it evaporated... but I digress.
I know more than anyone the power of learning from mistakes and wholeheartedly agree with your assessment. Good luck
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Originally posted by SteadyCapture View PostGood point Rod,
The main differences in Gold/Silver trading in relation to the other currency pairs are that Gold/Silver trades have the highest average duration and the lowest average trade sizes due to their daily ranges being significantly higher on a percentage basis.
For those accounts that are significantly smaller than the Master and that don't have access to incremental Gold/Silver units you may want to disable those pairs from trading until the ratio becomes closer to the Master. The same goes for accounts at brokers that use a certain contract size for their minimum such as 10 ounces, etc.
Because of this, your follower account has an open Gold trade that appears to be about 10x the risk of the Master account.
Probably won't be a problem in this case, but if SC opens a much larger, or multiple Gold positions, you could end up deep in the mire.
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Originally posted by arkoon View PostBill, this question has already been asked previously. Please check. SteadyCap said to disable Gold if account is small.
It will look very bad if he hits a very large DD or margin call on a public account.
I know he is a very busy man, so he may not have noticed this. It was just meant as a friendly warning nudge, nothing more.
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