The GOAL is to survive

[Gabmigalays]

Once we begin fresh we all have our high expectations . But while the time passes by we realize that the enormity of this task at the hand.
Well I am no different , at the beginning of my career I focused on profit part of this sport. Which led to dismissing lot of little accounts in novice phase of my trading.
But as I gained more experience , I realized that before I begin making money I have to establish itself that I dont lose money.

Therefore I opted to proceed with the project of achieving my goals in 2 stage ... 1 Proving impeccable defense
2 Fragrant greatest attack

Phase 1
Project started last year January 2015
First trading account was from Jan 2015 to May 2015 ....which had 290 trades and had been almost split .
Http://www.myfxbook.com/members//trial-1/1605717

Secondly trading account is connected currently and it's around 900 trades and is also break even.
That means I overcame trading cost for 1100 traders . . .making this match from sum to Zero sum.
Next goal for stage 1 is to reach 1500 commerce without blowing account.

Phase Two
Patroxx funding
Its myfxbook connection for stage 2 , with account name Patroxx Capital. It'll have 100 just like stage 1 .
Https://www.myfxbook.com/members//step-2/1598210

Broker - Berndale funding
Initial Deposit - 1996.87 USD

I'll be posting my equities at the close of each month , as I believe balance is readily manipulated and its own being dishonest . Regrettably myfxbook only uses balance in different sort of calculation.Examples like Grid or Martingale systems are beneficial for balance based calculation.

Equity
April - 2042.19 USD
May - 2102.46 USD
June - 2157.59 USD
July - 1936.03 USD
August - 2228.43 USD

[Bmigasgiem]

Cool you've got guts to try out https://www.nigeriaforextrading.com/attachments/1525141927.jpg
friend you've enrolled with any rebate or cashabck sites ?
Http://www.myfxbook.com/reviews/rebate-progr/17,1

even when you handled your account without reduction means, we get quite a wonderful sum of money from rebate sites , like you're doing 1000 trades this will be more helpful for you, if reduction means, it reduce the reduction percentage, if no reduction means, we receive some money from it as rebate, if profit implies, it increase the profit percent.

[Gabmigalays]

trendy you've got guts to try https://www.nigeriaforextrading.com/attachments/1525141927.jpg buddy you've registered with any rebate or cashabck websites ? Http://www.myfxbook.com/reviews/rebate-progr/17,1 Even if you managed your account with no loss implies, we get a wonderful amount of money from rebate websites , like you are doing 1000 transactions this will be more helpful for you, in case loss means, it decrease the loss percentage, if No loss means, we get any cash from it rebate, if profit implies, it raise the profit percent.
Thank you for the encouraging words. Sure I will check it out.

[Gabmigalays]

I can post my perspectives on comprehending portfolio 10, now.

Its roughly 1 Sharpe ratios


Currently Nigeriaforextrading and other sites like Myfxbook shows only Sharpe ratios.
And Sharpe ratio is most widely utilized in industry as performance dimension . But IMHO you can find plausible fallacies at Sharpe ratio calculation and can be manipulated to acquire higher ratio for Slimming systems ....such because martingales and other no stop loss systems.
For better comprehension . .its wonderfully illued in below link .

Http://www.myfxbook.com/community/general/sharpe-ratio-highest-myfxbook/266265,1

Two MAR ratio

For MAR ratio you can look at below link. Which I believe must be given more weight and makes sense.

Http://www.investopedia.com/terms/m/mar-ratio.asp

I would appreciate if traders using background on data can provide their view about most significant metrics in measuring portfolio performance.

[Gabmigalays]

It was a positive week..still 1 position open.
Its on the course to satisfy my objective.

[kiub]

All of us have our expectations , when we begin new . But as the time passes by we realize the enormity of this task at the hand. I am no different , at the starting of my career I focused on profit component of this sport. Which resulted in blowing lot of little accounts in novice period of my own trading. But as I gained more experience , I understood that before I begin making money I must prove my self that I dont lose cash. Hence I opted to go with the project of attaining my goals in 2 phase ... 1 Fragrant impeccable defense 2 Proving best... if you would like to survive in the long run there are just a few things that you need to take care of.
Attached is the image showing your greatest draw down which is more than 89%. A few pips from you or slippage where spread improved by a more pips and your account could have been margin called.
If you're able to work in your draw down , chances of succeeding is more.
All the very best to you buddy.
https://www.nigeriaforextrading.com/attachments/15251419381337556460.jpg

[Gabmigalays]

quote If you want to survive in the long term there are few things that you want to look after. Attached is the picture showing your draw down that is over 89%. A more pips from you or slippage where spread increased by a few pips and your account would have been margin called. Chances of success is more, if it's possible to work on your draw down. All buddy. picture
While I most certainly agree with you that drawdown of the size is really bad.
I'd like to fix few points on your monitoring.

1 Lowest balance I had existed 57.00 dollar throughout that biggest drawdown period. Which would have taken me a second 28 drop in a row. . .as I use 20 pip first stop loss for my own trading. Thus, your observation about few pips slippage or gap would possess margin called my account is wrong.
2 Lets say for argument sake . . .that if I had that drawdown stage at the beginning of the trading... I began using 108.00 USD and my max drawdown was 93.00 USD. Which might have given me the following 8 lose in a row before margin call.

After all said and done. .
My objective of launching this account was to allow my self prove that I did not have negative tilt. That I was not losing anything additional than broker charges each commerce. Quite simply pips for pips expectancy should not be worse compared to broker charges. Which I put 1 pip each commerce.
Which I have proved here ... and I am 90% confident that I'll reach 1500 trades without blowing account.
Besides. . .Account I have there is no scope for anykind of money management . . .as I have fixed 20 pips stop loss and I have been trading lowest minimum allowed by brokers.Which is 10 cents per pips. There is not any other way.
If I'm trading bigger account , I could move my trading size ( ie apply money management ) and comprise drawdowns.

[Gabmigalays]

With reference to the under thread . . .As I dont want to drag it.
Https://www.nigeriaforextrading.com/bitcoin-talk-and-cryptocurrencies/168-ea-modifiion.html

I'm attaching EA under for anybody that are interested in finding out validity of backtesting results. As a belief that EA backtesting has no significance. I present them scientific evidence.

Setting are as mentioned below.

Auto Bias - True
Londo start - 8.00
Newyork start - 13.00
Asian start - 01.00
(this component could be different depending which broker data you are using. . .so check my explorer and fit your own time so)
Stop Loss - 200 (for 5 digit broker ....20 pips) or 20 for 4 digit broker.
Volumen - 0.01 or doesnt matter . . .as we're counting expectancy in pips
Be on - False
Formation depart - False
Sonic depart - True
Close to new bar - True

Leave other options as it is ...

I assume that you know Where to place EA and where to place Indiors.
In MT4 tester . . I utilized Dukascopy tick info ( which is among the best available resource free of tick data. ) And disperse used was 0.2.

Good luck.

Risk Disclaimer - This EA is for eduional purpose only . Caution for every kind of usage and I will not be held responsible.
https://www.nigeriaforextrading.com/attachments/1525141943334569556.ex4
https://www.nigeriaforextrading.com/attachments/1525141945197917681.mq4
https://www.nigeriaforextrading.com/attachments/152514194813252537.ex4
https://www.nigeriaforextrading.com/attachments/1525141949438951350.mq4
https://www.nigeriaforextrading.com/attachments/15251419511118932701.mq4

[Gabmigalays]

I've uploaded live trading explorer link for phase 2.
Defensive thoughts has been taken from Phase 1 study and for really making pips ...I've been working on it since last 15 months.

Https://www.nigeriaforextrading.com/attachments/1525141929.png
Good luck.

[Gabmigalays]

Imp. Milestone 1000 transactions has been breached.Over 1 year period.
Total reduction - 1.8 percent .
Purpose is to reach 1500 without blowing off account.

[Gabmigalays]

For stage two ....Patroxx Capital.
Month of May has observed equity rise from 2042.19 USD into 2102.46 USD .
It's been upgraded on first page.

[Gabmigalays]

For phase two ....Patroxx Capital.
Month of May has observed equity increase from 2102.46 USD into 2157.59 USD .
It's been updated on first page.

[muneeb]

Funny how you attained your goals of be pretty much exactly. Not once but actually twice! Coincidence? Definitely not https://www.nigeriaforextrading.com/attachments/1525141929.png

[Gabmigalays]

Funny how you reached your goals of be pretty much exactly. Not once but actually twice! Coincidence? Definitely not https://www.nigeriaforextrading.com/attachments/1525141929.png Please take care to elaborate ...I didn't get it ?

[muneeb]

quote Please care to elaborate ...I didn't get it ? If you set your target as breaking even, your mind will be certain that you do only enough to break even. Just like in school when they told you to complete an assignment it did not really matter if this was to short to long, it required you as long as given to complete it. Give or take some time based on what you thought punctually was (my defenition wasn't that strict such as https://www.nigeriaforextrading.com/attachments/1525141929.png).

So in the event that you set your target low, but reachable you will almost always achieve it, for you will do only enough to achieve it, then stop putting in more effort. That is what people do because there is almost no prospect of not reaching your target, which feels great as you don't need to leave your comfort zone and you made sure you can't fail, so that you won't feel bad.

If you set goals outside of your comfort zone and devote to them you will really grow. However, of course that come with more anxiety because it is harder and there is less prospect of reaching the target, so if you do not reach it more opportunity you'll feel bad.

You do not need to take any of this as advice but just note that fact you've given yourself
you set your goal to BE, you reached almost just BE
You set your goal to BE again (not even just a bit out of your comfort zone) you reached almost exactly BE again
You set your goal to acquire a small amount, you're currently making a small amount just

History is filled with perfect examples of the phenomena...

For me personally this meant committing myself to much higher targets (which initially meant even placing the goals at the first place, most people do not even begin with this ever in they are trading lifetimes). Since then I have put in countless hours, working untill 20 hours a day sometimes up to accomplish those goals. This was mainly working on the plogical side of trading btw (by analyzing and simulating what successful traders do), not only mindlessly analyzing 6.000 distinct egies, indiors and other variants. And I can tell you the result are absolutely astonishing. But this doesn't come easy, will require hard work and will be mentally hard (everyone knows trading is tough, but no will admit it, actually most people only hear you in the event that you tell them it is simple)

Now I don't for a second say: up your risk to your reward up. But anybody that can conduct BE consistent can conduct profitable consistent, learning how to accept risk will likely be your problem but that is just pure guesswork and thus don't take my word for it (you probably heard the advice a thousand times and may have even read it read trading at the zone by marc douglas)

This not meant as a critisism equally as friendly advice
Kind regards,
Nevie2

p.s. sorry it's a bit longer then thought https://www.nigeriaforextrading.com/attachments/1525141929.png

[Gabmigalays]

quote If you set your target as breaking, your brain will make sure that you do only enough to break even. Just like in school when they told you to finish an assignment at a time that is specified, it didn't really matter if that was to short to long, it required you exactly as long as given to finish it. Give or take some time depending on what you believed on time was (my defenition was not that rigorous for example https://www.nigeriaforextrading.com/attachments/1525141929.png). So in the event that you set your target low, but accessible you'll almost always reach it, for you may do only enough to achieve it, and then stop...
Thanks, I got everything you are attempting to say. But I completely disagree with you.
IMHO, single thing you can control is the risk that you take . . .you cannot control much cash you are going to make. So whatever you are saying does not make sense to me. When people join this particular venture . . .for whatever motive it might ...( Most converge to get rick quick or greed ) . . .they have pie in the sky notion of Making 20% a week or making daily 1000 dollars ....it most certainly ends up in disaster . I had fair share of mine.

And , hence I understood it was time to be sensible and put out my journey to prove itself into the profitability in two stage. Of which Phase is (was ) to not dismiss account over law of large number ( in this case 1500 currently ). It doesn't have anything to do with staying and dream .

Good luck to whatever GOAL you may have set up yourself.
Peace.
https://www.nigeriaforextrading.com/attachments/1525141929.pnghttps://www.nigeriaforextrading.com/attachments/1525141929.png

[muneeb]

Got to mention one final thing because you kinda blew my mind with that answer if I am honest https://www.nigeriaforextrading.com/attachments/1525141930.jpg. Gonna keep it short:
1. You can't possibly compare the completely arbitrary actions (emotionally, egically and everything in between) of a noob and that of a disciplined trader that follows a set egy
2. If you could really only control the amount of risk you take not one person would be trading Currency Market, in fact, trading could not even exist. You've got control over you mental state, egy you exchange (with countless variables), hours you exchange, amount of work you put into backtesting, how and if you report your self or someone else in your progress and 6 million other factors
3. If you discover any one exceptionally successful person that shares any of those thoughts, idea and convictions I would be extremely suprised, I may be completely wrong but these thoughts don't appear to be dependent on proven egies and ways of becoming succesfull, only kinda sounds like stuff that sounds plausible but not anything a succesfull trader would say

Do not for a second listen to me, but at least get your thoughts from an established source that has a long history of the kind of success you would like to achieve, whatever else is complete BS.

Kind regards,
Nevie2

[Gabmigalays]

I've been thinking about finding few spouses as my attempt of growth in different markets . . .like Equities , Futures etc.. ( Also to enhance current methodology in forex market)

So , I will write down , what I have been doing and what I am searching for potential partners.

I've been acquainted with forex market ( and couple other ) because beginning of 2012. And as a effect of studying procedure , I happen to be residing in Automated systems because 2014 . Which used to work with mixed results with MT4 EA's. I've paid lots of money for producing different versions. One of which is posted above , with connectednigeriaforextradingexplorer. Despite having sound behind it, which later I understood had been able to conquer trading investment. ( why ? ...i will leave it to you guys for figuring it out. )

Currently , upon realizing several caveats of MT4 testing ... I've been working with Jforex platform , which includes added advantage of Tick data back testing with complimentary , good quality information. After lots of trial and pain and error ... I am pretty confident about edge in the market.
Back testing was done since 2008 till today on several pairs ,,,including gold and oil . Though despite not making money every year (few years with little loses or break even) and its own making money overall with quite clear recognizable edge.

I've attached 2 screen shots to get an idea about that.
Https://www.nigeriaforextrading.com/attachments/1525141953509133606.jpg

As I believe there's always room for improvement , I have been searching for traders who will provide different perspective with expertise in domain I'm lacking.
So , Kind of potential candidate I am searching for are 1 Strong fundamental background
2 Quant minded . . .to carry out different statistical studies or developers ...( though quite small Quantity of programming will have to be done. )
3 Most significant of all ....you are enthusiastic about trading and have scientifically ,evidence based decision making.

So, if you are curious , you can PM me , with few details regarding your beliefs of market. I will reply you appropriately as and when I get a chance.
https://www.nigeriaforextrading.com/attachments/1525141957846496606.jpg

[Gabmigalays]

For phase 2 ....Patroxx Capital.
Month of July has witnessed equity fall in 2157.59 USD to 1936.03 USD .
It has been updated on first page.

[Gabmigalays]

For phase two ....Patroxx Capital.
Month of August has seen equity rise from 1936.03 USD to 2228.45 USD .
It has been upgraded on first page.