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Can these results continue?

Discussion in 'Beginners Bootcamp' started by dillonjersey, May 17, 2011.

  1. dillonjersey

    dillonjersey Recruit

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    I’ve been trading Forex for about six months with not much success so decided to purchase this “Hybrid Trading System from ForexConductor. My net profit is $1192.76 for since I started using it in May.

    Can get some advice on if I should continue with or service or take my profits and smile.

    I excited by I also want to be see my profits. Any suggestions? This program seems to work.
     
  2. Romeo

    Romeo Sergeant

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    Money management

    There are many issues you have to combine, in order to decide how to proceed. The only reference I have is the statement they uploaded on their website.
    The first thing I can see there is that there is no money management. They use the same lot size on a $2.000 and $20.000 equity. Their largest lost was about $500. What if you get two of these losses in the first three days? Then you are losing 50% of your equity.

    What are your risk settings? (What is the account size and what is the lot size you are trading?)

    Every system has a DD eventually. According to your risk settings, it might destroy your account or it might just reduce your profits.

    I would suggest you take some of your profits and think very well how to optimize your money management.
     
  3. Pharaoh

    Pharaoh Colonel

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    You say you've been using this since May. This is May. Can you be more specific.

    Let's see. One post wonder talking about the great success of a commercial system outside the commerce zone and making a post that doesn't quite make sense. Can a "click here to buy" link be far behind?

    Let me go way out on a limb and assume that maybe this isn't a spam in progress. With any system, don't start planning your retirement on the first few days or weeks results. Even a very bad system will typically have a winning streak. Unless you are trading microlots or nanolots, any new system should be tested on demo for at least a month (probably longer) before risking it on real money.

    As Romeo pointed out, check that drawdown. I can design a very profitable system for you in 2 minutes if you don't want to worry that it will wipe you out sometime in the first few days of trading.
     
  4. geoffrey

    geoffrey Private, 1st Class

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    Dont Be In A Hurry

    It is good to take your time and not to be in a haste. Take time to learn more and even see what the market will be like in few moments.
     
  5. dkami

    dkami Sergeant

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    Any profits a good profit:)

    Go on take the money and run WooHooHoo go on take the money and run
     
  6. Romeo

    Romeo Sergeant

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    Of course any profit is a good profit!

    Let's say he takes the money. Then what? Stop trading?
     
  7. dkami

    dkami Sergeant

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    "Stop trading" Well that's up to old mate, but what i say is take the profit:nerd: its better to play FX with profits and take out initial balance as soon as you can well that's how i play this game called FX but each to there own
     
  8. Pharaoh

    Pharaoh Colonel

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    There's no real reason for conflict between taking profit and growing your account. Withdraw 1/2 of your profits every so often.
     
  9. dillonjersey

    dillonjersey Recruit

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    I going to let it run

    I appreciate all your comments. I think i going to let the profits run.
     
  10. Romeo

    Romeo Sergeant

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    Any update?
     

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