The Legend of The Gambler - page 2
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So the secret is out.
Here is my snake oil potion.
This tonic has been working for real traders since 1909.Do you know why ?
Because it doesn't repaint
FerruFx
to turn $0 to $10,000 you have to be a magician not a trader , to turn $10,000 to $0 you have to be a gambler
... or just one of the 95% of traders (loosers) !!!
FerruFx
MM,
I would have to say it was a mixture, there were manual trades and automated trades. Majority of it from automated trades though.
The logic behind the expert is fairly simple, so I rather not discuss it.
I have created several variants, and several iterations of the program. But I'm not a programmer by trade, I know enough to be dangerous. So I would categorize myself as a poor programmer.
Even now, I still do not trade with a stop.
My edge is always going for that home run trade, so I can and do have wild swings in my equity curve. If I get caught on the wrong side, I will have big drawdowns without stops. But that's the risk level I'm willing to take to seek the big returns.
I'm The Gambler.
Sometimes I get annoyed by InterbankFX when they Balance Forward the trading statements. It screws up the whole balance curve, and the initial deposit is all wrong. They balance forwarded my statement to start in June 2008 when I was still in drawdown, and my initial deposit is now replaced by the equity during the drawdown in June 2008. So there is really no point in posting any more curves because it will not match.
What kind of sick logic is behind this?
However, I did deposit $10,000 more last week into the account, and it looks like a giant spike on my curve.
Too bad it wasn't due to my skills. 
So now, it would be how to turn $20,000 into $0 very quickly.
I've also loaded my latest iteration of the expert onto the account, so far, it's running smoothly. It is a BIG fundamental change from the previous iteration, and I'm very nervous about its performance. This change is actually on the logic side.
Account #1 Summary (Post Date):
Deposit/Withdrawal: 20 000.00
Balance: 27 481.07
Equity: 27 481.07
KR ,
I am impressed , well done and good job
BTW I am also a bad programmer but that didn't stop me from creating good experts.
in 2007 I had a good run, almost though that I control the market and I was trading without SL , end of 2007 I gave back almost the whole year profit in few days when the cable start to move south, I was trading without SL and I caught the top of the reversal , eventually I had to close my positions , I hope you will never face such a scenario , so start using SL
ego and confidence are traders enemy
"As Kenny might say, stops are for losers."
Priceless tips....!
----------------
May i suggest you something?
Just take a position before going to sleep in opposite direction of weekly trend whitout stop loss, and apply TP of 0.
This way you have nice probability setup!
Oh and i forgot, do the ALL IN poker style method, you know...
More chance on your side!!!
Its been a free tips, don't tanks me.
We all know that a "pat in the back" and a "kick in the arse" is not too far apart.
And when you put real significant money of your own on the line, it becomes very stressful.
Although, I do have some plans to diversify in the coming months with funding multiple accounts and different strategies with new currencies pairs. These will have much less initial stake capital, probably $2K to $3K depending on how my demo trials perform. And if ND's RAS system goes live, I may even become a subscriber to some of the systems I find conservative.
Oh and i forgot, do the ALL IN poker style method, you know...
More chance on your side!!!
Its been a free tips, don't tanks me.MM,
I would have to say it was a mixture, there were manual trades and automated trades. Majority of it from automated trades though.
.KR ,
You don't need my advise or anyone else ,keep doing whatever your doing if it works for you and it makes money.
Its good to know that more and more seniors on TSD are actually making money from trading.... very few last in this tuff market and I hope you will get to the 100K by the end of the year
^ I don't think my system is that profitable.
If I can get anywhere near $35K at the end of the year, I would be very very happy because that would be my top end target. Too many traders have unrealistic profit expectations.
I get a lot of inspirations from reading and studying stories from real traders.
Trader Stories - OANDA FXTrade
And I'm as stubborn as they get. Most traders would have simply abandoned a strategy on the first sign of drawdown. They never let any strategy develop because they are always on the quest for the Holy Grail where it makes money in every market.
For the rest of this month, I'm probably not going to trade. I'm a little confused with the recent moves, and with the impending US rate cut, it seems like the whole market is going to be very very unpredictable. If I do enter, it will either make a lot of money or lose a lot of money.