This will make our actual and any future trader aware of what wugot is doing or plan to do:
This is to answer a private question that someone has asked us:
All professional traders have a plan and most of them would agree to risk 5% of their balance in a single trade and eventually, they can lower it to 2 or 1% once their account is getting biggger.
Our balance is over $95000 5% of it would have been $4750 for 1 contract, our Draw down could have go up that amount and double this amount for 2 contracts. So far, our draw down percentage is among the lowest for the top startegies. Weare 1.6% or $10k something.WE do not let our trades go all the way, we have stop loss at 50 points, which means we can agree to lose $5000 in a single contract and $10000 in 2 contracts if we see for sure the market will not reverse.
I often know for sure when the market is about to reverse on me. On My CFD account, I take an hedge position and take another position to run with the profit, but in Futures Gold, you can not do that. Y=Either you cut or wait until the stop loss is hit or expect a reversal.Another way out which sound to me better for few traders may be able to do that is by taking the opposite position in another month contract.
We do not trade martingal. taking two different positions once the market goes against you is not martingale. Martingale is double your position size when the market goes against you. On the first 1, I would have taken 2 contracts and on the second I would have taken 4 contracts. This is not what we do. Our indicators may be wrong to us once, but not twice, if the market is about to reverse, why not take the profit when it is moving back. We just enter the market and this is not martingale.
For telling you seriously, we are still new at trading futures. We have years of experience trading CFD Gold ( XAU/USD) which is move similar to gold and we use MT4 to do. We are satisfied with our brokers up to now. We are a signal provider for a while and we kept over 90% win ratio for year on over thousand trades. We did not know excatly what 10 contract mean in futures when it comes to margin since in CFD, you need $650 margin to take the same size contract in futures. can beleieve that? 10 contracts require a $50000 margin in futures while in CFD you need $650. Anyone with a $2000 account can trade this and make the same money as a guy who take 1 contract infutures.
Once we undertand that, we lower our contract to 2 and maximum 4 up to now.
Starting next week, we plan to lower it to 1 since we plan to ride longer on our trades and allow as well more traders with small account to join.
We do not have high win ratio only while our cumulative is among the top 13 system at C2. We care for everything. Even the draw down since we are among the lowest.Chicken cut their losses if their are afraid, do not have a plan or enough margin. We use 50 points stop, but traders can still adjust their trade size if they do not agree.
We prefer triple or more an account in a matter of years than waiting 10 years to do that. Lif e is short. There is no way, I can call a good system that generate only 10% a year. No way, we can make that in months.We have tools, knowledge and discipline to do that and careless about wht TV or so call Wall street investors are saying. We are on our play to be multi millionaire like anyone else with no or very little risk.
Thanks for your concern and we really appreciate. We love you at Wugot. wwww.copybauviltrades.com