Quoting permanentjaunDislikedFeel free to tell me why you think ROI is going to suck.Ignored
Strategy: Daily Range Spike and Pull Back 161 replies
Daily Range Strategy 19 replies
Range/Last = range in %... help find the bug... 2 replies
How to get range of h/l on previous day's range? 1 reply
Another Daily Range Strategy GBP/USD 23 replies
Quoting permanentjaunDislikedFeel free to tell me why you think ROI is going to suck.Ignored
Quoting GeldschluckerDislikedThe ROI of a martingale is always lousy and sucks. You want to risk 1-3-9-27 just to win 1?Ignored
Quoting permanentjaunDislikedFor a 100 SL and 50 TP..
(-100) + (-100) + (-100) = -300. To break even I'd need to win 6 trades that profit +50 pips each. So in one trade I'm really winning 6 trades. Like I said, this strategy isn't for everyone and will not survive if you're not managing your money correctly. This is where a highly leveraged account can be a plus. With less margin required you can put more trades towards a certain goal. If you know your strategy is more than 50% successful then you can rest assured that eventually you'll be at breakeven, if not profit.Ignored
Quoting DavidHDislikedWouldn't that be (-100) + (-200) + (-400) on three losing trades? If you are doubling up, you need to keep doubling up your loses too. You'd also have to go for the same profit/loss targets, at a bare minimum..
If you are onto your fourth loss, and you do "win", you would have gained 50 pips x 8, or 400 total pips. By this time, you have lost 700 pips.
A very high risk way of trading. Even if you have a strategy that is 100tp/100sl, and wins 55% of the time. Who says you can't lose 10 times in a row? It is _unlikely_, but it is _possible_.
I use to use the same concept while playing Black Jack. As I lost, double the bet. You'd think you couldn't lose more than 5 or 6 times in a row. It happens all the time though.
The better way to play Black Jack is to do progressive winning. As you win, every other time, increase your bet. 1 1, 2 2, 4 4, etc... Would I ever use this method in trading? Never. Take the bumps with the bruises.... Once a trade takes profit or a loss, that trade is done, onto the next one... That is where your money management comes into play. As long as your risk to reward ratio is good (1.5 at least, better in the 2.0 or 3.0 range), then it doesn't really matter what happened the last trade.
I personally watched this thread much closer in the beginning. The original methods posted do work (I personally like the 20/-20 straddle of London open). Sure, they have their bad days, but they have good days in return. Lately, too many untested _theories_ have been thrown out, many off track from a "daily break-out" approach... Be nice to see the thread get back on that track daily break-out strategies.Ignored
Quoting DavidHDisliked
I personally watched this thread much closer in the beginning. The original methods posted do work (I personally like the 20/-20 straddle of London open). Sure, they have their bad days, but they have good days in return. Lately, too many untested _theories_ have been thrown out, many off track from a "daily break-out" approach... Be nice to see the thread get back on that track daily break-out strategies.Ignored
Quoting traderoneDislikedJust wanted to post a further update on my modified Kamanda system.
Been trading this since Nov7.
I trade two units. Take profit at 25 pips on the first and 50 on the second. If the second hasn't closed by around 9 AM EST I close it whatever.
Trigger is now 54 long and 40 short. SL is 50 long and 40 short. Using the 5 PM EST open (or close however you look at it). I deleted all of the cancelled trades that weren't triggered.
I call it karamba just for fun.Ignored
Quoting traderoneDislikedKaramba had a bad week.
One day was a winner for 25 +50.
But two other days were losers at -40 and -40.
I didn't trade on Friday (NFP).
So for the week, -85 pips.
I think for the last 4 weeks the total would be around a positive 210 pips. I am not around my trading machine right now but will be glad to post the statement later. (My version of Micardo was postitive however.)Ignored
Quoting permanentjaunDislikedI quote this part to ask the question; was it using the opening price that made the system successful or the straddle? Why can't we straddle from any point in time to take profit?Ignored
Quoting permanentjaunDislikedThe steps per losing trade would then actually require the risk per trade to be: 1 - 2 - 6- 18 - 27 - 54 - 108 - 216. It starts doubling after 27. That is to just breakeven when using a 100 SL and 50 TP. Thanks for essentially slapping me in the face though. I needed that. Here I was thinking everything was as simple as that, but I had forgotten the most important piece of the puzzle.Ignored
Quoting permanentjaunDislikedJust letting you all know I've started a new thread titled Probability System Theory and Money Management discussing the topic of doubling down after losing trades and probabilities of consecutive losers. Just as DavidH mentioned, it was a little off topic.
I'd still like to talk about the random entry idea on here though. MattIgnored
Quoting drlc01DislikedTraderone,
Thanks for the Karama results.
Is Mircado manual or with an EA? and if with an EA can you post the one you are using.
Thanks,
EricIgnored
Quoting QMGDislikedA little adaptation to the Daily Strategy that this thread has been discussing. It does require an account that allows hedging (I use interbankfx). At 00:00 GMT buy and sell the EUR/USD with a 50 pip stop loss and 15 trailing stop. Close out all open orders between 23:30 and 24:00 GMT.
The premise of this trade is to capitalize on the interday price activity. If you look at a candle chart most days will have shadows of at least 17 pips on the bottom if an up day and on the top if a down day. In these cases you'll have a profitable trade on BOTH trades. However, days when there are shawdows of less than 17 pips you lose (most of the times it is the whole 50 but somedays it will only be in the 30-40 range).
You will incur some days of losing 50 pips but the gains definitely offset those times. Here are the results from April to October:
April +458
May +184
June -3
July +333
August +573
September -35
October +140
Total Gain +1650
I'm currently running Novembers numbers. As for December it is currently up +175 pips.
QIgnored
Quoting QMGDislikedA little adaptation to the Daily Strategy that this thread has been discussing. It does require an account that allows hedging (I use interbankfx). At 00:00 GMT buy and sell the EUR/USD with a 50 pip stop loss and 15 trailing stop. Close out all open orders between 23:30 and 24:00 GMT.Ignored
Quoting QMGDislikedA little adaptation to the Daily Strategy that this thread has been discussing. It does require an account that allows hedging (I use interbankfx). At 00:00 GMT buy and sell the EUR/USD with a 50 pip stop loss and 15 trailing stop. Close out all open orders between 23:30 and 24:00 GMT.
The premise of this trade is to capitalize on the interday price activity. If you look at a candle chart most days will have shadows of at least 17 pips on the bottom if an up day and on the top if a down day. In these cases you'll have a profitable trade on BOTH trades. However, days when there are shawdows of less than 17 pips you lose (most of the times it is the whole 50 but somedays it will only be in the 30-40 range).
You will incur some days of losing 50 pips but the gains definitely offset those times. Here are the results from April to October:
April +458
May +184
June -3
July +333
August +573
September -35
October +140
Total Gain +1650
I'm currently running Novembers numbers. As for December it is currently up +175 pips.
QIgnored