Comments on: Live Trade Results 12/4/08 – 6 wins – 3 losses +$1,007.50 http://www.umttrading.com/2008/12/04/live-trade-results-12408-6-wins-3-losses-100750/ Watch Live Forex, Future and Stock Trading Results Using the UMT Mon, 07 Jun 2010 19:40:14 +0000 hourly 1 http://wordpress.org/?v=3.3 By: chris http://www.umttrading.com/2008/12/04/live-trade-results-12408-6-wins-3-losses-100750/comment-page-1/#comment-426 chris Sat, 10 Jan 2009 08:29:25 +0000 http://www.umttrading.com/?p=181#comment-426 Mark, 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. Mark, 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.

]]> By: Mack http://www.umttrading.com/2008/12/04/live-trade-results-12408-6-wins-3-losses-100750/comment-page-1/#comment-391 Mack Thu, 04 Dec 2008 18:31:24 +0000 http://www.umttrading.com/?p=181#comment-391 The 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. The 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.

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