Live Trade Results 12/4/08 – 6 wins – 3 losses +$1,007.50
Mark | December 4, 2008You can click the screenshot just below to see an enlarged version of live, in the market trade results from today. This took 45 minutes in the market, and we ended with 67% winning trades, a Profit Factor of 2.56 today and our Average win/Average loss ratio at 1.41. All good, consistent numbers. As you can see, we do not have to be right on every trade, but by maintaining our winners larger than our losses, and a solid win percentage we were able to achieve a nice return in a short amount of time today. The Universal Market Trader strategy shows us where we should enter the market, and once in the market what our exact targets and stops should be. Feel free to join us at a live weekly webinar – (click here) to see more – or get started today with the most comprehensive strategy, course and training available today.
Live Trade Results 12/4/08
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The chart you show for Dec. 4 trading, with a
Mack | December 4, 2008The chart you show for Dec. 4 trading, with a profit of $1,007, shows a total of 9 trades taken. Yet on all your videos you trumpet the power of quitting and state that one should stop trading after 2 wins and profitable on the day. What’s up with 9 trades???
NetPicks Reply: Good question. On the two markets I traded, one was the Dax and it was with a “scalp” type timeframe so my Power of Quitting was 3 wins. On Crude Futures I have the same trading plan and keep it the same day. Usually the Power of Quitting is 2 wins and done (plus positive result) or 3 wins. Hence the 6 wins combined. Thanks.
Mark, can you say what the account size was for
chris | January 10, 2009Mark, can you say what the account size was for this days trading (or what was your risk s % of account balance).
I’m trying to gauge how long it will take to recoup the cost of the program trading forex eurgbp using say a 2%risk on a starting balance of $5000.
NetPicks Reply: Lets say you are going to risk 2% per trade. So assuming you are using an active timeframe that’s probably about 4 to 5 mini contracts. And, lets assume for sake of easier calculation that you are trading a cross that is $1/pip (I know that’s not the case with the cross you mention but for ease of explanation we’ll use the typical USD type cross) you would need about 320 pips, give or take, to make back your investment and then be moving into solid profits so the number is not very large or out of the scope of expectations as you can see. Thanks.