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    Page 89 of 123 FirstFirst ... 84 87 88 89 90 91 94 ... LastLast
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    Thread: MartyFish 3 in 1 Trading System Journal

    1. #881
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      Quote Originally Posted by MartyFish View Post
      Thanks for the encouragement but still 20% risk per trade pressure is enough to make you go off track & unfollow your rules. And, surely here, only discipline & patience to handle the pressure & trade with high accuracy, will help me to get going.

      Had applied for a deposit in a new account yesterday through bitcoin got it deposited, thanks for instaforex bitcoin rates, I got more funds deposited in my account then I was expecting. I was expecting around $1050 (as per live btc rate) for 0.124 btc but got $33 more i.e instaforex gave me best rate of around $8700 for 1 btc.

      I would be trading this project in a seperate real account with $1083.00 starting capital and will also be trading my bonus & other real account normally with 2-5% risk per trade as usual.

      Exicted to trade with high risk in this account, my first target now would be to achieve a 100% return i.e $2000+ balance or capital.

      I would be updating my account statistics periodically & will keep the journal updated about it.
      We almost have the same situation where I traded other accounts with different risk level from 5% - 20% but I do average risk of 10% on my Instaforex bonus account. It's true that using high risk reward ratio strategy can ruin our usual trading plan due to greed.

      Congrats on your new live account $1083. May I know how many months you will need in order to reach 100% return or $2000 balance?


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    4. #882
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      Quote Originally Posted by balut View Post

      Congrats on your new live account $1083. May I know how many months you will need in order to reach 100% return or $2000 balance?
      It depends on my performance.

      With 20% risk per trade, with 1:1 r:r trades, it will take just 5 consecutive trade wins to make a 100% return or just 1 good trade of 1:5 r:r, or 10 consecutive winning trades of 2:1 r:r.

      If there is a loss in between then it will increase the amount of time. So, I don't know exactly how much time it will take, it is solely based on my performance & market conditions.

      It can take 1 trade, 3 trades, 5 trades, 10 trades, 20 trades or even more.

      Though, my average number of taking trades in a month is around 4-8 trades per month. So, depending on that if I perform above average it should take less than 2-3 months to hit $2000+ capital level or a 100% return.


      P.S:- A SL hit will slowdown the process. Thus, my ultimate goal is to trade without hitting my SL, for this I will take highly confirm entries, I would move SL to breakeven as soon as possible, I would even trail my profit as it's possible, I would close my trade in small loss/profit immediately if trade starts going against me or I have found that I have picked a wrong entry or if something is looking fishy.


    5. The following 4 users say Thank You to MartyFish for this useful post.

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    6. #883
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      If with 20% risk per trade with 1:1 r:r trades it will take just 5 consecutive trade wins to make a 100% return or just 1 good trade of 1:5 r:r, or 10 consecutive winning trades of 2:1 r:r.
      at least it will be fun ... or not but we will find out!

      it will be interesting to read about your mental reaction to this high risk trading. i am right now making popcorn!

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    8. #884
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      It is horrible to see that we can risk as much as 20% on a single trade, no matter how accurate our analysis is for the market, there is always a thin line between being stupid and being wise, there is a serious deceptive power that is embedded in the forex market, once we get deceived that nothing can go wrong with an individual trade, it means we have already experienced an entrapment that will make us regret why we took a bad decision, forex is not a bed of roses, what you see can change the very next moment, why expose yourself to so much risk in the name of greed.


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    10. #885
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      Quote Originally Posted by Oghale View Post
      It is horrible to see that we can risk as much as 20% on a single trade, no matter how accurate our analysis is for the market, there is always a thin line between being stupid and being wise, there is a serious deceptive power that is embedded in the forex market, once we get deceived that nothing can go wrong with an individual trade, it means we have already experienced an entrapment that will make us regret why we took a bad decision, forex is not a bed of roses, what you see can change the very next moment, why expose yourself to so much risk in the name of greed.
      honestly, being rigid about money management is one area where most forex traders are lacking. 20% is huge, for sure, but that still make sense. there are traders, including myself who trade 200% o more on a single trade. not that it works for us, but we are damned addictive to greedy trading. we need to correct that area for sure.
      ''Too many times we settle into a set way of thinking and accept limitations that need not be placed on us'' -John C. Maxwell

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    12. #886
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      Quote Originally Posted by Alexander Tatsumaki View Post
      at least it will be fun ... or not but we will find out!

      it will be interesting to read about your mental reaction to this high risk trading. i am right now making popcorn!
      Yes, it will be fun for sure for the readers & even for me if I am making right moves but the tense moments will come when I will deviate from my trading plan due to the pressure of losing or being on the wrong side.

      I know it sounds insane & greedy but it's not random. I have a plan to work according to.

      I know the pressure will be immense but at the same time it will be fun. Here, I would need a 80-90% hit rate to come out on Top, that's the only way. If I want to win then I just have to keep winning mostly everytime (& that's the real pressure).

      Sure, you can bring your popcorns. But, I can't gurantee you how long my this movie (trading account) would last or entertain you.


      Quote Originally Posted by Oghale View Post
      It is horrible to see that we can risk as much as 20% on a single trade, no matter how accurate our analysis is for the market, there is always a thin line between being stupid and being wise, there is a serious deceptive power that is embedded in the forex market, once we get deceived that nothing can go wrong with an individual trade, it means we have already experienced an entrapment that will make us regret why we took a bad decision, forex is not a bed of roses, what you see can change the very next moment, why expose yourself to so much risk in the name of greed.
      Yes, it is horrible to risk 20% per trade & that is why I have mentioned in my post, Don't try this, unless you can afford to lose your capital.

      But, for me, I have a plan here, I can take the tolerance of trading 20% risk per trade & I can hit a 80% win rate overall if I traded with discipline & patience & if somehow I makes it work then I would increase my $1000 capital into a much bigger capital in a couple of months, that's the target.


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    14. #887
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      Yes, it will be fun for sure for the readers & even for me if I am making right moves but the tense moments will come when I will deviate from my trading plan due to the pressure of losing or being on the wrong side.

      I know it sounds insane & greedy but it's not random. I have a plan to work according to.

      I know the pressure will be immense but at the same time it will be fun. Here, I would need a 80-90% hit rate to come out on Top, that's the only way. If I want to win then I just have to keep winning mostly everytime (& that's the real pressure).

      Sure, you can bring your popcorns. But, I can't gurantee you how long my this movie (trading account) would last or entertain you.

      Me too, I will bring my popcorn, hahaha. Good thing that you have a solid plan for this bro Marty. And you will trade with your live account, this is exciting! Since this is your live account am sure you will trade much riskier or safer? or depends with the situation? High risk trading is doable if you are mentally prepared for what will happen after the ride. Good luck and more profits for you bro.


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    16. #888
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      Quote Originally Posted by NikitaBelle View Post
      Me too, I will bring my popcorn, hahaha. Good thing that you have a solid plan for this bro Marty. And you will trade with your live account, this is exciting! Since this is your live account am sure you will trade much riskier or safer? or depends with the situation? High risk trading is doable if you are mentally prepared for what will happen after the ride. Good luck and more profits for you bro.
      Yes ofcourse.

      I will be trading with high risks here (20% risk per trade) as safely as possible because my entries / setups will be very strong (mostly unless if I am wrong) + I would be monitoring them on candle to candle basis & would be ready to take immediate action to cut my losses or take my profits. My Ultimate goal here would be to avoid my SL getting hit & get a winning rate of more than 85%.

      Still anything can happen & I can burn down my account very fast at this 20% risk per trade but if I didn't then I will be turning this $1000 into something big within a couple of months if I gets used to the process & pressure.


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    18. #889
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      The ride that you are about to embark on is a bumping one that will see several road blocks along the way, I don't know how you are going to survive this market with such risks but I believe something like this needs to be tested with a demo account before you can come out in the open to use the live account, I see that you are always trying new things which is good but maybe you should focus and consolidate on the system you are using for now, I see all these experiments as distractions that can cost you valuable time, anyway I hope you achieve your goals with this new journey of yours, forex is about learning better tricks to earn more money, isn't that what brought us here in the first place.


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      Quote Originally Posted by Leonvic90 View Post
      The ride that you are about to embark on is a bumping one that will see several road blocks along the way, I don't know how you are going to survive this market with such risks but I believe something like this needs to be tested with a demo account before you can come out in the open to use the live account, I see that you are always trying new things which is good but maybe you should focus and consolidate on the system you are using for now, I see all these experiments as distractions that can cost you valuable time, anyway I hope you achieve your goals with this new journey of yours, forex is about learning better tricks to earn more money, isn't that what brought us here in the first place.
      I know with my this new challenge I am sounding out a bit insane, greedy & desperate to earn faster. But, I can't do anything about that only time will tell if this challenge was good or bad for me.

      I am not changing the system here. I would be very much trading like I do but with just different parameters instead of 2-5% risk per trade, I am using 20% risk per trade. As in my last 5 months of trading I haven't hit my SL twice in a row & depending on that data I am trading with this parameter, which can extract maximum profit or maximum trading potential out of my trading method/system.

      I won't be loosing $1000 that easily & I am trying this out in a separate real account which I can afford to lose, rest my bonus account & other real account I will be trading normally as usual with 2-5% risk per trade.


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