Trader performance
Markets Forex

0 Like 0 Dislike 20 Replies
2 years ago

Just wondering how other UTP traders are performing?  I've spent the first few months making losses but hoping to turn my portfolio back into profit in the coming months as feel much of my portfolio has been consolidating with too few break outs. Does anyone else have similar results or ideas to improve profitability?


Posted 2 years ago 0 Likes   0 Dislikes

@Raymond 

Wow! Well indeed I think you are right. I never thought of it that way. 

If an SMS or EWT was activated without sufficient floating profit, then i exit the trade as per the UTP strategy.

But that doesn't change that the market signalled a breakout. However placing a limit order AT the triggered EWT or SMS would trigger the trade immediately.

So, I place my pending order Above the triggered indicators. If the market continues, I am entered into the trade. If not, nothing happens.

This has been my thinking. But will definitely need speak with my Account manager. Thanks for the insight



Posted 2 years ago 0 Likes   0 Dislikes

I had thought of doing what you are doing in the early days.

 You would think it give you some safety but when you really think about it. The trades you will be closing today for not enough floating profit that have run for you and have profit will have less profit than they should because they opened later and the trades you close that have retraced that day after they opened will have larger losses as the opened higher than they need before retracing again.

So I didn't do it as the crew in UTP seen to be better at this game than me  so I followed our Ihsan's advice.




Posted 2 years ago 0 Likes   0 Dislikes

@joey_magia

Hi

If you are placing pending orders beyond the EWT / SMS, are you not modifying the strategy?

The reason I ask is that I'm trying to stick to what we've learned but every now and then, someone seems to have a different interpretation or a variation on the rules.



Posted 2 years ago 0 Likes   0 Dislikes

@Sidekick

That's really good to hear.

Confidence can be difficult to maintain when so many seem to be experiencing the same results.



Posted 2 years ago 0 Likes   0 Dislikes

Hi fellow traders. I have been trading for roughly 3 months and have never been -5%  of my account.

I have had to learn to stick strictly to the floating profit rule; however, I place a pending order above the SMS or EWT indicator so as not to lose a big movement due to floating profit.

The only mistake i have made is exiting a trade to early by manually setting my stoploss PAST the against-line price.

Discipline and patience are gold!



Posted 2 years ago 0 Likes   0 Dislikes

I seem to be running into similar problems and find that after a while I have built up a small floating profit maybe near 5% then I take a new trade which maybe has been triggered by a spike in the market which wipes out all or most of my floating profit - even giving me negative floating profit which means that until that trade hits my stop loss or turns around I cannot accept any other trades and so am trapped, rejecting trades which go onto make considerable gains.  I am continuing to maintain faith and so stick to the rules and am waiting for the big one to come along to put me into a favourable position.



Posted 2 years ago 1 Likes   0 Dislikes

Morning sidekick

Had a look back at that short oil trade you took. I'm not jealous! l'm not jealous! well that's what I keep having to tell myself this morning. 

So I'm sorry but the questions are spilling out of me.

When you get into a trade like the oil trade and your floating profit is building up, how many other trades were you able to except on the back of the floating profit and how did they work out?

How long have you been trading the UTP?

Have you had any other long running trades that you took over 50% of your balance and how many have you had in your portfolio but not been able to take part in as your floating profit hasn't let you take it when it started, this seem to be my biggest problem at the moment. I was in both the Brent and Gold recently but had to close them for floating profit . Got stabs at them but not the whole movement on the way down.

Thanks for you time.






Posted 2 years ago 0 Likes   0 Dislikes

Thank you sidekick

We new traders in this current market conditions need more gentle hugs like this after spending a day getting hit around the head  with another big candlestick after non-farm payroll.    It's just the advice I need after ending another week down 0.5%. So head down and  keep going as things will work out is good advice, your a star.

Have a good weekend, thanks