080719 $11.49

Hey traders, I know I will be not able to make post every single trading day, I will try but dont want to make any promises. First trading day was 7.7.2019 so the first position was UsdJpy long. I was pretty happy with that, because according to the plan the trend was planed and the price was going in my direction. I bought UsdJpy and there was also a nice long trade on CAD. Both trades ended in profit. The UY +108 pips and CAD with +40 pips. Nice and smooth +148 pips out of these two trades.

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The risk is still too high

Trade update, there are still problems with the risk. I saw a lot of profi traders who spoke about risking and profit and expectations in trading. The first and most important thing is the risk. If you are not able to reduce it to minimum, maybe because of the expectations of profit, you will never be able to make consecutive profits. It’s because of the greed and gambling. If you are making profits, than all semms okay but after a few loses you will start to catching the profit back from the market and that’t the start of the end of your trading. After rising the risk the only thing happens will be higher loses. So I don’t care what you trade, I only care about the risk and the risk could never be higher than what you planned. According to your trading style, there should be deep down under 1% for single trade in daily trading any maybe something around 1% for H4/daily trades. Its just because of the losing period in which you should not lose to much. Loosing 20% in 3 days is just nonsense.

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Trade update DJI 145 pips

DJI still rising. Yesterday I was looking for the long trend again. Weekly in demand, daily already with pullback and H4 with bounce from daily demand. Price was looking for level 25750 – 25730and there was also my BUY.

I’m long 25744 after M5 Price Action.

Targets are in order to today’s FOMC – better close profit than stay on loss after this news.

buy 25744 SDPAFX.com

buy 25744 SDPAFX.com

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Day 1 trading DJI30 Long SDPAFX

Day 1 trading DJI30 Long SDPAFX

DJI30 short was on the program of yesterday. For me the price was in daily demand. There we saw the price action on H4 and a new swing high which means long trend. After that I zoomed to M30 and found the entry after the bounce. Target was set as AB=CD at the end closed a bit earlier.

dji30 long sdpafx

dji30 long sdpafx

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Limited Risk

Limited Risk <1%

As I told to you many times and as you probably already know, there is 99% of retail traders who are loosing their money. You can also find many videos on youtube telling the truth about the reason why just only 1 trader from 100 is able to make some profits or just not lose any money. I think I also saw a statistic from the brokers about the time perspective how long it takes to drop down the account to margin call and it was horrible.

For a normal retail trader the interval of losing money is 3 months, respectively 90 days. So let’s say when you survive more than 90 days with your live account you are one of the best retail traders in the world. But this tooks me to the question. What is really the reason for such a disaster in retail trading?

I realized that the problem is really simple. Lets imagine you will trade in maminum leverage 1:30 and you will make a loss of 10% on one trade. Doesn’t matter if you move the SL or if you trade without it. Just as an example -10% of the account. After such a loss your leverage will probably limit the lot size for next trade. So if you made -10% with 1,0 lot than the leverage restriction will decrease the maximum lotsize for next trade from 1,0 to 0,8 for example and now you will need more pips to make for the same amount of money. This of course leads imidiately to moving SL for another trade only to get the chance to make the amount of pips needed to cover the losses. As you already knows, well 99% of retail traders knows, this trading leads only to another loss and another one so at the end of the day you are trading full leverage without SL hoping that next trade on M5 chart will bring you 200 pips and all will be fine.

But there is another retail problem and that’s greed. If you are really lucky guy and you hit the target of hindrets of pips because of news or whatever else, you cover losses and you make some profit than the freed step in the game and you will want to get more, much more. So you will not decrease the risk, you will still trade full leverage and as usual you will make some losses. These will make you draw down not -10% but even worse. So after reaching -20%, your leverage restrict the lotsize from 1,0 to 0,6 and you will need even more hundrets of pips to cover losses and that will open the mouth of the broker even more so at the end you will be lost finally with Margin Call and that’s game over.

And this my friends is the reason why 99% of retail traders lose money. You can trade whatever you want, doesn’t mater which technique, which trading system, which timeframe or which market. The only one thing you need to do is do not lose more than 1% of your account on any trade you make. it should be even more if you want to be specific, but 1% is really nice start point.

After such a reveal i decided to prepare a extra account for me. So all my trades will be copied from my master account to my Live trading Slave account. Every single trade will be copied with defined lotsize, defined SL and PT. On this Live account there will be EA for reducing the loss on single trade and also the EOD – End of the Day P/L. So there will be no way how to lose more than 1% on single trade. If I open 10 lots on Master account, the software will copy the trade to Slave account with 1,2 lot only, for example. Just right lotsize according to account ballance.

I made few modes with stats I already have and as you can see, if we limit the loss on single trade to 1,0% than all equity are rising.

Never ever risk more than 1% again

 

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