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What happens when the G1 account goes below 3000 ??

 
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caflischmartin

What happens when the G1 account goes below 3000 ??

Hi guys,
I am in the situation that I get stopped out every day with minus 5% after having one or more % plus.
Now I am down at about 3800.
Any suggestions.
I try to get the winners bigger,but this causes me to get bigger losses also.

Position size wise is kind of a loose loose.
Bigger positions equals bigger winners,but also bigger loosers wich doesnt change the avg loosers in a better number.

Smaller positions like 0.01 allow me to make a lot of pips,but almost no change to the stats after a trading day.

What to do ?

Fri, 02/08/2019 - 12:55am
 
TraderHewitt

In terms of profit, afaik nothing happens from Apairy side, though I don't know for sure. They don't want you to make a profit, so I doubt anything until you blow it totally.

To get your positive expectancy task, you just need to be more profitable than you were 30 days ago, not recoup the account, so if you draw down to $3000 and then in 30 days your balance in $3000.10 you will get the positive expectancy achievement.

In terms of trading, you may find G2 much harder than G1 depending on your style, and of course funded has no room for blowing out. So it might be good to work on improving where needed while still in G1, i.e. take some time here and work on not hitting the risk limits.

In light of that, as you have likely been trading some size, and now can no longer trade that size, making it hard for winners to overcome loosers as you need to extend the pip gains to make up for lot size reduction, and this of course doesn't work, as market doesn't just give more on a whim.

Perhaps you could just trade? You need 4 weeks as it is to gain a positive expectancy perhaps, but it will give you time to work on your strategy and gain an edge. Trade at 0.01 and if you still have room to trade say 0.04, rather place 4 positions of 0.01, i.e. never place a position of more than 0.01 no matter what.

This will drive the old trades off the back of your stats sheet, and they will be replaced by new ones. Over a couple of weeks they should all be driven off the back, and all your avg win/loss stats will be based on new 0.01 positions, and you are in a position to look at moving on.

What might work too is to "reset" this. Place as many trades as needed on 0.01 to bring these averages down. Place the trade then close it immediately, loosing just the spread+commission, so on EU that is -$0.06. Do as many trades as it takes to clear your stat board.

Now you have tons of looses and no winners, but in a way you start again. Your last 100 losses will be all tiny, so this helps your avg win loss right off the bat.

You will need to trade for a period to get the more wins than losses, as you will have losses inside your normal trading, this may not be much different to just trading, but it is an idea maybe (personally I would just trade as it will take time/practice/experience to solve the issues anyways).

Whilst obvious, it does made a good point to repeat, trading is not like school, "passing" beeline into G3 does not make automatically make one a profitable trader, in that you "pass" G2 and can now just make money, as I am sure many of us who moved into G3 can attest to, if anything it gets harder, and there is still a lot of work to be done.

So take your time here on the big demo account, trade small and work on your system, you will find if you just work to pass G1 & G2 then get to G3 with issues like routinely hitting risk limits, things won't end well.

 
FXGold54

TH, A great plan for recouping the account, Thank you for taking the time :)

Allen