WIP - Will try to post a picture of a trade setup for each different account, over the next week or two. Also going to try and update every week with exactly where the entries were taken for each account (shift click and drag trade history to charts).
I have made a lot of threads here but figured I would spend the weekend consolidating them into one thread so it's easier to manage. Most of the others can be deleted, I'll contact the mods who can do so.
This thread will be used to track my trade parameters and trade setups which are allocated to separate accounts, so I don't have to manually track each different setup.
I just set up a few sub accounts under my master.
I'm thinking of doing a trade explorer for each but at the same time, I don't want to have any outside pressure to perform well. So what I may do is add the trade explorer in a few months once the sub accounts are showing profit.
My main account is for low risk cash flow income, but the sub accounts are high risk accounts that are playing with profit only, and I don't really care if I lose the profit (although I still use daily risk tolerances of course).
The most important reason for separating the strategies to different accounts is that the stop losses and BE levels are completely 100% automated (except for the master account, these have manual stops, trailers, and BE). All I have to do is click entry on my MultiTerminal (with the lot amounts all preentered so literally all that must be done is press buy/sell and then close the position when the time is right (or the trailing will close it)
Note: Some parameters (like trailing stops) have been slightly tweaked in the last few weeks for more profitability.
Indicators I use:
-Daily pivot levels
-RSI period 2
Setups I use
-Divergence + PA + No major resistance in the immediate way (minimum 3x the amount of pips as I risk)
#1 - Master Account
(4HR + Daily swing trading + occasionally 10-20 pip scalping if the market is flowing)
Capital Devoted - 85%
Entry rules: Cannot enter unless the stop can fit below the low/high.
Setup: H4/Daily dojis with H4/Daily hidden divergence and a wide gap to resistance. Daily RSI direction must agree (or be on the verge of agreeing, IE, oversold/overbought and about to turn).
Setup2: H4/Daily dojis + H4/Daily divergence and a wide gap to resistance.
Stop loss = 24.3 pips (+0.7)
TP Rules: Close on resistance if above +100 pips (75 is fine if the resistance is strong, which is typical countertrend, but not with trend)
Trailing + BE Rules = Trailing stop to BE when price hits +50, when price hits +75, trailing stop goes to +25-50ish to lock in profits, depending on support levels. An entry is placed JUST above the trailing stop (where there should be support), with its own stop loss 5 pips below the trailing stop of the main entry. This is because support sometimes holds and the trailer will not be hit, and I can get a larger position without much risk to the current profit.
Leverage = 1:1 half position, 2:1 full position. It really depends on the strength of the trend and the potential for profit (potential for more pips = larger position).
Risk = 0.25-0.50% per trade (half, full)
Maximum weekly draw down allowed = 2%
Maximum monthly drawdown allowed = 5% (typically I make 5+% a month so its only wiping out 1 month of profit)
Special Rules: Sometimes will enter half position with the other half waiting for a retest near the very highs/lows of the major resistance.
#2 - Sub Account A
(One loss per day, razor stop)
Capital Devoted - 9%
Entry rules: Cannot enter unless the stop can fit below the low/high.
Setup: Strong breakout minimum 20 pips to resistance. Enter on the retrace.
Stop loss = 4.3 pips (+0.7)
TP Rules: Close on resistance if above +20 pips and cant make it to +25 (immediate resistance in the way)
Trailing + BE Rules = Trailing stop to BE when price hits +10, when price hits +15, trailing stop goes to +10. When price hits +25, trailing goes to +20. Close on resistance at +30 pips or above. Hard take profit = +50 pips.
Leverage = 40:1
Risk = 2%
Target = 8-10%
Special Rules = No more trades for the day after one loss is taken (not a BE, but a loss of 2%)
#3 - Sub Account B
(One trade a day, tight stop)
Capital Devoted - 3%
Entry rules: Cannot enter unless the stop can fit below the low/high.
Setup: Massive breakout with gaps (30+ pips) to fill on H1 chart.
Stop loss = 9.3 pips (+0.7)
TP Rules: Close on resistance if above +20 pips.
Trailing + BE Rules = Trailing stop to BE when price hits +10, when price hits +20, trailing stop goes to +10. Close if you face resistance in the +25-+30 range
Leverage = 50:1
Risk = 5%
Target = 10-15%
#4 - Sub Account C
(One trade a week - Huge size, tight stop)
Capital Devoted - 3%
Entry rules: Cannot enter unless the stop can fit below the low/high.
Setup: Massive breakout with huge gaps to fill on H4. Enter on end of the first retrace.
Stop loss = 9.3 pips (+0.7)
TP Rules: Close on resistance if above +20 pips.
Trailing + BE Rules = Trailing stop to BE when price hits +10, when price hits +15, trailing stop goes to +10.
Leverage = 100:1 + 25% of profit made
Risk = 10% + 25% of profit made
I have made a lot of threads here but figured I would spend the weekend consolidating them into one thread so it's easier to manage. Most of the others can be deleted, I'll contact the mods who can do so.
This thread will be used to track my trade parameters and trade setups which are allocated to separate accounts, so I don't have to manually track each different setup.
I just set up a few sub accounts under my master.
I'm thinking of doing a trade explorer for each but at the same time, I don't want to have any outside pressure to perform well. So what I may do is add the trade explorer in a few months once the sub accounts are showing profit.
My main account is for low risk cash flow income, but the sub accounts are high risk accounts that are playing with profit only, and I don't really care if I lose the profit (although I still use daily risk tolerances of course).
The most important reason for separating the strategies to different accounts is that the stop losses and BE levels are completely 100% automated (except for the master account, these have manual stops, trailers, and BE). All I have to do is click entry on my MultiTerminal (with the lot amounts all preentered so literally all that must be done is press buy/sell and then close the position when the time is right (or the trailing will close it)
Note: Some parameters (like trailing stops) have been slightly tweaked in the last few weeks for more profitability.
Indicators I use:
-Daily pivot levels
-RSI period 2
Setups I use
-Divergence + PA + No major resistance in the immediate way (minimum 3x the amount of pips as I risk)
#1 - Master Account
(4HR + Daily swing trading + occasionally 10-20 pip scalping if the market is flowing)
Capital Devoted - 85%
Entry rules: Cannot enter unless the stop can fit below the low/high.
Setup: H4/Daily dojis with H4/Daily hidden divergence and a wide gap to resistance. Daily RSI direction must agree (or be on the verge of agreeing, IE, oversold/overbought and about to turn).
Setup2: H4/Daily dojis + H4/Daily divergence and a wide gap to resistance.
Stop loss = 24.3 pips (+0.7)
TP Rules: Close on resistance if above +100 pips (75 is fine if the resistance is strong, which is typical countertrend, but not with trend)
Trailing + BE Rules = Trailing stop to BE when price hits +50, when price hits +75, trailing stop goes to +25-50ish to lock in profits, depending on support levels. An entry is placed JUST above the trailing stop (where there should be support), with its own stop loss 5 pips below the trailing stop of the main entry. This is because support sometimes holds and the trailer will not be hit, and I can get a larger position without much risk to the current profit.
Leverage = 1:1 half position, 2:1 full position. It really depends on the strength of the trend and the potential for profit (potential for more pips = larger position).
Risk = 0.25-0.50% per trade (half, full)
Maximum weekly draw down allowed = 2%
Maximum monthly drawdown allowed = 5% (typically I make 5+% a month so its only wiping out 1 month of profit)
Special Rules: Sometimes will enter half position with the other half waiting for a retest near the very highs/lows of the major resistance.
#2 - Sub Account A
(One loss per day, razor stop)
Capital Devoted - 9%
Entry rules: Cannot enter unless the stop can fit below the low/high.
Setup: Strong breakout minimum 20 pips to resistance. Enter on the retrace.
Stop loss = 4.3 pips (+0.7)
TP Rules: Close on resistance if above +20 pips and cant make it to +25 (immediate resistance in the way)
Trailing + BE Rules = Trailing stop to BE when price hits +10, when price hits +15, trailing stop goes to +10. When price hits +25, trailing goes to +20. Close on resistance at +30 pips or above. Hard take profit = +50 pips.
Leverage = 40:1
Risk = 2%
Target = 8-10%
Special Rules = No more trades for the day after one loss is taken (not a BE, but a loss of 2%)
#3 - Sub Account B
(One trade a day, tight stop)
Capital Devoted - 3%
Entry rules: Cannot enter unless the stop can fit below the low/high.
Setup: Massive breakout with gaps (30+ pips) to fill on H1 chart.
Stop loss = 9.3 pips (+0.7)
TP Rules: Close on resistance if above +20 pips.
Trailing + BE Rules = Trailing stop to BE when price hits +10, when price hits +20, trailing stop goes to +10. Close if you face resistance in the +25-+30 range
Leverage = 50:1
Risk = 5%
Target = 10-15%
#4 - Sub Account C
(One trade a week - Huge size, tight stop)
Capital Devoted - 3%
Entry rules: Cannot enter unless the stop can fit below the low/high.
Setup: Massive breakout with huge gaps to fill on H4. Enter on end of the first retrace.
Stop loss = 9.3 pips (+0.7)
TP Rules: Close on resistance if above +20 pips.
Trailing + BE Rules = Trailing stop to BE when price hits +10, when price hits +15, trailing stop goes to +10.
Leverage = 100:1 + 25% of profit made
Risk = 10% + 25% of profit made
Be hopeful in a winning position, and fearful in a losing position.