Disliked{quote} Hi SmoothTrader! Just couple of questions: 1. You said, in HFT you are entering after NLD changes the color. You are not waiting for first retracement as Lebaneese? Are you somehow avoiding the whipsaw? 2. If you are trading HFT on two timeframes and with 15 pairs, how many trades you are opening trough the week? I'm trading of 12 pairs on 12H timeframe. I started live account with 900 and position size is 0.01. Trough last 10 days I got 21 lost positions with -192USD, 11 open postitions are running now with +244USD. I'm using SMA34 for...Ignored
Sorry about the delay getting back to you, I have been on the road for a bit.
I only use the NLD indicator from Mr. Lebaneese's thread. I don't use his entry method for this system. At the color change I initiate my Primary position with the stop loss at the previous swing high/low. The add-on Secondary positions are added at the close of retracement candles that are opposite to the trend color of the NLD indicator. The initial SL is the closest previous swing high/low, BUT on all Secondary positions I move the SL to BE + a few pips as soon as possible in case of an extended counter trend move or a change in trend, as indicated by the NLD indicator. I have set a maximum of 2 secondary positions that have not had their SL moved to BE + a few pips. This protects against a slow counter trend move that adds many Secondary positions before a confirmed trend change.
The Daily Time Frame trades tend to have more staying power for me and between Primary and Secondary positions I am initiating about 15 to 20 trades per week. The 4 Hour Time Frame has the opportunity to have many more trades. I must admit that I abandoned trading that Time Frame not because of losses or the system not working but because I wasn't at my screen for too many of the signals. Even though I am a full time trader I am not at the screen for many of the 4 Hour Time Frame candle closes.
Hopefully, this may help you with some of the whip-saw losses. A week or two, or even a month is not an absolute representation of this method. It is designed to make sure that you are able to participate in some of the BIG trends that occur in FX. Those trends do not happen all the time, but when they do they will multiply your account it ways you can only imagine.
As for your Draw Down question, by my calculation you have a CLOSED Draw Down, but your account is positive over all. This is normal because your closed positions are ones that have hit their SL's. In the short time that you have been trading there has not been a nice trend move with the corresponding change of trend which would close many of your trades in nice profits. I use an Excel spreadsheet to keep track of my positions (both open and closed) with their corresponding risk levels. In that way, I keep on top of what the worst case scenario of all my positions hitting their SL at the same time would be. I will attach a working copy.
GREEN pips to you my friend.
Attached File(s)
HFT D1 Risk Profile.xlsx
40 KB
|
740 downloads
ps if you should have any questions on the Excel Spread Sheet, PM me with them so we can keep the thread as clean as possible.