Consistency and Psychology is the key!
One thing on my mind has been the consistency in my trading. This is an area that I can improve on without changing my trading style or method. Let me explain. Up to now I have been re-investing my profits and my balance has been growing. As my target per month has been 10%, each month I need to gain slightly more dollars and trade slightly higher lot sizes. As a result my drawdown has also increased but only in terms of dollars (Not percentage).
Psychology wise this has been difficult to adjust on a monthly basis due to the increased dollar drawdown. But this I can actually fix very easy. What I will be doing from now on is keeping a steady balance at the start of each month by withdrawing my profit after each month. (Side note: On a separate account I will become a subscriber to my own signal where I can copy at a higher lot size and grow my balance without adjusting the psychology of my main account).
Looking at my statistics, My best month was when I had around $1200 in the account so this will be the figure that I will start each month at. This will allow me to trade mainly 0.01 lots and some selected 0.02 lots to make up the 10% each month.
Also, something that I will adjust is the max drawdown (Emergency stop) allowed on the account which I will be reducing from current 30% to 20%.
Starting this Monday 19/11/2018, I will have reduced my balance to $1200. I will not revenge trade by trying to make 10% this month. I will stay consistent and as we are in the middle of the month, my aim will be 5% for November.
Please make sure to adjust your Percentage Ratio each month which is calculated by MetaTrader in the journal tab of the Terminal. I recommend a copy percentage of either 100%, 200%, 300%, etc…
Any questions, feel free to send me a message.
Hey mate, you did a good job today by getting out of the market with minimal damage, this Brexit time is very unpredictable, better to stay safe. You should keep focusing on maintaining low DD % which makes a signal attractive, these are the times when your risk management tactics are being tested. I will stick to your signal in the long run until you play safe, you take it easy mate, have a good one.
Полностью согласна с TradingJoe, выставление 5 ордеров в течении часа по 0.04 лот и обновление максимума загрузки депозита говорило о тильте провайдера, тем более что он закрыл в убытке ордера в этом направлении незадолго до этого. Непрофессионально.
Top notch trader, best signal in MQL. I just love how he control the DD.
Lost all the profit of the month, when he went against the market for some days and tried to compensate it today with a grid in the opposite direction. I will unsubscribe. The signal is one of the better here, but still too risky for me and I lost the trust in the trader. Especially when he writes in the "what's new"-section: "I was hoping for a reversal back down". Hope is not a responsible trading strategy. One good rule for longtime successful trading is: "Trade what you see, not what you hope to see". Cheers!
We have sad many 😔. You had the chance to get out of the market without wasting money. But let us see how these losses are compensated
Good sign!!!
So far, I'm very satisfied with this signal.
Very satisfying results so far. Will be very good when capital grows. I am in this for a longer run. Is already profitable after fee and vps payments.
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Er macht schlechte Trades und es führt zu keinem guten Ergebnis
Smart. Keep on your way that smart.
Good signal!!!
Thanks for keeping DD as stable and low as possible, and for letting us know the important change (such as deposit & leverage change) before you do.
It tells us this signal is real and being taken care of seriously.
Join Telegram group - https://t.me/chickenpips
This guy know how to hedge and protect money. Keep with excellent job Daniel.
thank you! please keep on.
就这样每天0.01的搞吗，每月就赚个订阅费了
I try with his signal with 100usd now this signal make me 25usd profit.
I'm observing in 1-2 months before improve investment.
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10 percent every month Autor dont overtrade..... Strategy always the same thats good He can handle the pressure When More people suscribe the Signal thats allso good
For now a Ver good signal