Took this signal at 3:45 AM Central and gone back to bed. Long AUD/USD and EUR/USD.
EA open position on demo, but not open position on real account. Any Comment 7 replies
Close Losing Position, Set Trailing Stop to Winning Position 2 replies
Extreme long term Hedged Carry Trade Position Building journal 15 replies
What is "Building a Position" 4 replies
Long position or short position 6 replies
cheers
Disliked
I hate to add lot size as mentioned by chip, because when things go wrong whole account seem to collapse.Ignored
DislikedChips:
Question:
If USD/JPY goes on a long rally, how does the basket still cycle from profit to loss to profit to loss?
Thanks a bunch,
LHXIgnored
DislikedBonjour courtneywild,
THANKS for your reply and I see that you always open the basket with 0.01 lot size in order to keep your DD as tiny as possible at first.
And once your 0.01 indicator trades show the way, you place trades .10 on the LAST two bottom pairs !
Now my main concern is what could be your started lot size when you open your basket if you get an account for example of 10.000€ or more ?
Did you always open tyour basket at 0.01 lot size
Thanks for your attention,
Happy trading,
Angel
...Ignored
Dislikedabout the USDJPY situation.
the only main difference in how i do it. is using oil and gold as anchors and i trade using support and resistance to set in my trades based on heavy spikes.
DD control is rule.Ignored
DislikedYet another way of trading this system with a slight change in the pair selection. I have been trading 8 pairs ( No eurgbp and UsdJpy)
My group consists of NU,NJ,AU,AJ,EU,EJ,GU and GY,
Then I look at the 2 pairs where base currency is same, for eg EURUSD/EUROJPY.
When profit is double of the loss on one pair I close both pairs.
Wait and do same with the rest of the pairs. Seem to be pretty good so far.
Only problem is one has to watch it constantly and try to close both pairs simultaneously.( hope some one can create a script/Ea...Ignored
DislikedI agree with this. It is more risky to add increasing lot sizes. If anything, the indicator trades should be the higher lot size and add ons should be increasingly smaller. That way if you add on,
your average price is farther away from current price allowing for more breathing room for prices to flucuate before you have to put on a hedge.
For example (lets assume .01 lots = .10 per pip)
Adding higher lot size:
Eur/usd up 100 pips.. indicator trade = + 10.00(.01lots)
Add on .04
Eur/usd drops 50 pips..indicator trade = + 5.00 (.01 lots)
Add...Ignored
DislikedDear courtneywild,
Great, it does take sense for me and I agree with you that profits are made from the higher lot size trades you place (sales) .10 .20 .40 or whatever your risk/ account is suitalbe for.
Just for sharing trading ideas, my trading method is very simple :
1) ALL 5 indicators "sell or buy" are in the top/bottom half
2) Place trade on the LAST TWO bottom pairs (highest profits) and hedge the FIRST top pairs (highest loss) at the SAME lot size just for freezing this loss
3) Take profits at 3:1 sales cost ratio (on average 25...Ignored
DislikedHope I am not stepping on ES's foot
But I am doing the same
Sell
GJ
AJ
NU
EU
Buy
GU
EJ
NJ
AU
They cancel each other out your .01 lot opening is about -$3.00
It may move a $1 or $2 + or minus
You don't have to worry so much about BOJ and the JPY pairs killing your
start up Pitbull IndiIgnored
DislikedYet another way of trading this system with a slight change in the pair selection. I have been trading 8 pairs ( No eurgbp and UsdJpy)
My group consists of NU,NJ,AU,AJ,EU,EJ,GU and GY,
Then I look at the 2 pairs where base currency is same, for eg EURUSD/EUROJPY.
When profit is double of the loss on one pair I close both pairs.
Wait and do same with the rest of the pairs. Seem to be pretty good so far.
Only problem is one has to watch it constantly and try to close both pairs simultaneously.( hope some one can create a script/Ea...Ignored
DislikedHi ES Trader,
could you show a pic about your open trades.
A friend of mine is testing an EA for the Pitbull System. Could be interesting to use your pairs.Ignored
DislikedI really don't understand why all the hecklers always congregate on every thread that has something to do with Brian's ideas.... I follow 20+ threads on FF and nowhere else do I find so much negativity.....
Moving on....
Attached screenshot for this week - my demo account was deleted over the holidays as I was not trading.... Closed 1st basket of today (open for about 90 min this morning Asia time) to avoid ambiguity...
Have attached another visual aide which needs to be put in the expert folder (use like an EA but it is not trading!) -...Ignored
Dislikedif we had opened the pitball basket on 1 july 2008 - this is where we'd be
309.20Nu
721.40Au
356.30Eg
-3092.20Eu
-4618.20Gu
2928.70Uj
1980.50Nj
6986.80Ej
9379.50Gj
2246.90Aj
...Ignored