Hello. I am a very small lot trader, trading with only a few hundred dollars. This few hundred dollars that I trade may be nothing when compared to very experienced and professional traders investment however this is a lot of money for me as per the valuation of my home currency. I only have a few years experience in trading and the knowledge that I have can be compared to the 'tip of an iceberg'. I have done only manual trading till now and have never trusted any EA. But recently I met an old friend of mine (CMFG) who gave me a great idea (my opinion of the idea being great). He introduced me to a system or better still showed me a system which behaved very much like a magnet. The trend/indicator and current price of all currency pairs have magnetic properties of opposite poles of a magnet They always attract each other. There are some requirements for this system to work properly but I cannot say for how long this system may work properly with success.
The system has the following characteristics :
1. It requires the ADR/ATR of the currencies to be traded for the last 1 or more years.
2. It has to be automatically executed as it is very strenuous to take manual trades based on this system.
3. It is based on 3 day Moving Average which I guess very few or maybe no traders use.
4. It consists of a Capped Martingale system to avoid or minimize risk of margin call.
I am looking for help from the experienced and helpful traders to help me in my search for developing and testing this system.
I will use this thread as my Trading Journal.
I request all to please share your knowledge and your kind actions will be sincerely appreciated.
Post 8 is important for updated strategy knowledge. Strategy updated on post #53 & #54 on 17th October,2014.
Here is the updated monetary result of all trades so far:
Details of each individual trade can be found in the posts below:
Profit = $214.60 (after deducting commissions and adding/deducting swap)
Loss = $712.95 (after adding commissions and adding/deducting swap)
Net Profit or Loss = -$498.35
Summary of Trade Sets : (Refer to Post 15)
1. Total no. of Trade Sets Profitable = 20/27 (74%).
2. Total no. of Trade Sets profitable in 1st Step =15/27 (56%) .
3. Total no. of Trade Sets profitable in 2nd Step = 5/27 (19%).
4. Total no. of Trade Sets profitable in 3rd Step = 0/27 .
5. Total no. of Loss Trade Sets = 7/27 (26%).
The system has the following characteristics :
1. It requires the ADR/ATR of the currencies to be traded for the last 1 or more years.
2. It has to be automatically executed as it is very strenuous to take manual trades based on this system.
3. It is based on 3 day Moving Average which I guess very few or maybe no traders use.
4. It consists of a Capped Martingale system to avoid or minimize risk of margin call.
I am looking for help from the experienced and helpful traders to help me in my search for developing and testing this system.
I will use this thread as my Trading Journal.
I request all to please share your knowledge and your kind actions will be sincerely appreciated.
Post 8 is important for updated strategy knowledge. Strategy updated on post #53 & #54 on 17th October,2014.
Here is the updated monetary result of all trades so far:
Details of each individual trade can be found in the posts below:
Profit = $214.60 (after deducting commissions and adding/deducting swap)
Loss = $712.95 (after adding commissions and adding/deducting swap)
Net Profit or Loss = -$498.35
Summary of Trade Sets : (Refer to Post 15)
1. Total no. of Trade Sets Profitable = 20/27 (74%).
2. Total no. of Trade Sets profitable in 1st Step =15/27 (56%) .
3. Total no. of Trade Sets profitable in 2nd Step = 5/27 (19%).
4. Total no. of Trade Sets profitable in 3rd Step = 0/27 .
5. Total no. of Loss Trade Sets = 7/27 (26%).
Striving to Develop & Implement Innovative Ideas