Disliked{quote} Without proof the whole theory could be just a college project ...Ignored
MT4/MT5 EAs/Indicators/Alerts coder
1 trade per pair per year 6 replies
multiple systems per pair/multiple pairs per system? 3 replies
Extracted Post (per poster's request) 0 replies
Trading 24 hours per day, 5 days per week 14 replies
Disliked{quote} Without proof the whole theory could be just a college project ...Ignored
Disliked{quote} No, it's me. I assumed that a reduction in the account is DD. Whether you take it now or take it later is not important, it is still less than you had. That's my view of DD. The strict definition of DD is if you have open trades that are negative that you have not yet closed. You and FerruFx are right.Ignored
DislikedI do kindly request of everyone that this doesn't turn into a coding an ea thread however. I realise it may seem like I am being very 'tight' with how I want this thread to go, but it's just that I've seen so many threads where all the content gets buried as page after page of arguments and irrelevant topics drown out everything else. As I've stated I will continue with my long posts until I feel the mthod is complete regardless of how this thread turns out, I just believe it would be beneficial if this thread could be kept relatively 'clean'. Fez...Ignored
Disliked{quote} I think it would actually be pretty interesting to see the results. As I keep saying this isn't a method where the entries are the main part of the system, therefore if an ea can enter the markets in both directions with a tight stop and manage to get a reasonable % of trades to breakeven I would actually be curious about how it fares. Naturally the position management would be at the discretion of the trader. ------------------------------------------------------------------------------------------------------------------------------------------------------...Ignored
DislikedNow to get to this post about trading psychology. This method is not hard in the sense of being physically challenging to learn. All that is required from you is to get at the least 50% of your trades to breakeven at a 1:1 risk:breakeven. You can almost (not quite) achieve that by entering the market randomly. This is why I keep stressing the fact that you shouldn't be too worried about your entries. Let me give a quick example. You have a 5 pip stop and are aiming for 1000 pips (Or any other huge r:r). 1000/5 = 200. If we believe the market is...Ignored
Disliked{quote} Which TF did you use to do the end of day trading. I am in a similar situation to your and can spend evening and nights working on trades but will not be able to check on trades during the day. Its my understanding that it would be difficult to do this for 15M or 5M or even 1H with the entry that you had described. Did you then trade on a higher TF?Ignored
Dislikedhttp://www.forexfactory.com/showthread.php?p=7891673#post7891673 {quote}Ignored
Dislikedhttp://www.forexfactory.com/showthread.php?p=7891673#post7891673 {quote}Ignored
DislikedYes, I did read that post. My question is... the Fez talks about moving BE of previous trades on the evening. Now that would really be too late for most entries take on 5m? Or may be he means taking new trades and moving trades around from those? {quote}Ignored
Disliked{quote} I think there may be a misunderstanding. My trades are automatically set to breakeven once they hit a 1:1 risk:reward. I have an ea (or a "strategy" in Jforex as it's known) that automatically sets my trades to breakeven at the desired point. Therefore my sole responsibility is to find entries which have a reasonable opportunity of reaching breakeven and taking them. This is all I do. I take entries. I do not babysit trades, I do not sit and watch the P/L anxiously, I do not check the trades throughout the day. I make entries and I leave...Ignored
Disliked{quote} I never suggested that someone else should "do it for me." I'm really admiring the concept overall, and as Fezmar said himself, it'd be an interesting experiment. With the extremely tight risk parameters, even random entries stand a chance of producing a successful outcome. Anyway, I apologize for bringing up the EA idea... back to your regularly scheduled programming.Ignored
Disliked325 trades: 195 BE (+0), 122 losses (-6), 8 wins (+200) = 868 pips over 3 months (5 trades a day) average 2.67 pips profit per trade, 1:15.25 win expectancy and 1:33.3333 risk to reward 325 trades: 162 losses (-6), 163 wins (+11.3) = 869.9 pips over 3 months (5 trades a day) average 2.67 pips profit per trade, 1:1 win expectancy and 1:1.8833 risk to reward Different strategies for different personalities.Ignored
Disliked325 trades: 195 BE (+0), 122 losses (-6), 8 wins (+200) = 868 pips over 3 months (5 trades a day) average 2.67 pips profit per trade, 1:15.25 win expectancy and 1:33.3333 risk to reward 325 trades: 162 losses (-6), 163 wins (+11.3) = 869.9 pips over 3 months (5 trades a day) average 2.67 pips profit per trade, 1:1 win expectancy and 1:1.8833 risk to reward Different strategies for different personalities.Ignored
Disliked{quote} I have a problem with the "195 BE (+0)" = 0 loss Is there no spread or commission on a BE trade? If you put your trade at BE when price reaches 1:1, you still have to account for spread and/or commission. OR If you put your trade at BE+1 or BE+2 (if you trade a higher spread pair) to account for spread and/or commission, the math is much different. Mind you, the strategy is still highly profitable, but I'd like like your take on that.Ignored