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FXTradepro: Strategy using a “Semi-Martingale” Position Sizing

  • #101
  • Aug 20, 2007 8:50am Aug 20, 2007 8:50am
Hello Dan,

I emailed you.

Thanks.
  • #102
  • Aug 20, 2007 10:04am Aug 20, 2007 10:04am
I have attached a report about:
most volatile hours
most volatile session
Range for particular day of the week
And Average range in pips for each day of the month

for eur/usd Usd/chf Usd/Jpy and gbp/Usd

sorry It's a little bit old but still interesting I think
Attached File(s)
File Type: pdf whentoTrade.pdf   270 KB | 3,299 downloads
  • #103
  • Aug 20, 2007 10:11am Aug 20, 2007 10:11am
Quoting gambler997
I have attached a report about:
most volatile hours
most volatile session
Range for particular day of the week
And Average range in pips for each day of the month

for eur/usd Usd/chf Usd/Jpy and gbp/Usd

sorry It's a little bit old but still interesting I think

Thanks for the contribution gambler997............

Dan
  • #104
  • Aug 20, 2007 11:23am Aug 20, 2007 11:23am
Please remember folks, I have been trading a system very similar to this for a little bit on demo and went live not too long ago. A system like this needs monitoring especially if you leave it up to an ea to run the orders. Make sure to avoid shifty brokers and news events as they will kill your account with the spread widening. I am not taking away from the system as I am still trading it and looking for alternatives to my ea but just making a warning for those planning on going live with the ea.
  • #105
  • Aug 20, 2007 12:59pm Aug 20, 2007 12:59pm
Quoting igotswansons
Please remember folks, I have been trading a system very similar to this for a little bit on demo and went live not too long ago. A system like this needs monitoring especially if you leave it up to an ea to run the orders. Make sure to avoid shifty brokers and news events as they will kill your account with the spread widening. I am not taking away from the system as I am still trading it and looking for alternatives to my ea but just making a warning for those planning on going live with the ea.
I don't know if it is possible to insert a protection in the code for spread widening.

When you run an ea like this on a live account, you must have a backup battery for your computer and modem or a power generator. A very reliable broker and internet provider to. But I would not let the ea run if I leave up. too much risky I think
  • #106
  • Aug 20, 2007 1:08pm Aug 20, 2007 1:08pm
Quoting gambler997
I don't know if it is possible to insert a protection in the code for spread widening.

When you run an ea like this on a live account, you must have a backup battery for your computer and modem or a power generator. A very reliable broker and internet provider to. But I would not let the ea run if I leave up. too much risky I think

One of the reasons I had the EA made to trade to 24 levels was to offer some protection against the Broker issues. Regarding power back-up etc, these are issues for all EA's and robots and that is why I had the stops and TP's hard coded so that they exist on the Broker's Server.

Dan
  • #107
  • Aug 20, 2007 1:59pm Aug 20, 2007 1:59pm
im demoing this since last night on the gbpusd and so far im at 14 level and close to profit. the thing is... because gbpusd is 4 spread it gets stop out more often. I will try eurusd with 2 spread. anyways, i like this system. ive been trading the martingale system successfully so far on the usdcad only for 8 weeks on a live acct. i'm up 33% so far.
  • #108
  • Aug 20, 2007 2:30pm Aug 20, 2007 2:30pm
closed for profit at the 14 level!!! i will trade only the European session.
  • #109
  • Aug 20, 2007 2:33pm Aug 20, 2007 2:33pm
Quoting criss73
im demoing this since last night on the gbpusd and so far im at 14 level and close to profit. the thing is... because gbpusd is 4 spread it gets stop out more often. I will try eurusd with 2 spread. anyways, i like this system. ive been trading the martingale system successfully so far on the usdcad only for 8 weeks on a live acct. i'm up 33% so far.
Smaller spreads are a bit easier to deal with, but entering the Initial Entry in the Sequence at the "Best" time/place will help in keeping the number of entries in the Sequence down. Try to avoid a tight range by entering with a SELL at or just above a Resistance point OR by entering a BUY at or just below a Support area - also look to Trade when the market is poised for a move. I rarely get to 14 Entries and I trade GBPUSD often.

Dan
  • #110
  • Aug 20, 2007 2:37pm Aug 20, 2007 2:37pm
Quoting criss73
closed for profit at the 14 level!!! i will trade only the European session.

Nice criss.......Level 14 is not the end of the world....You still had 10 Levels to go. The European session has been good to me but I still only trade it when I see an OPPORTUNITY. Select your Trades carefully, that is what will help you avoid the worst case scenario.

Dan
  • #111
  • Aug 20, 2007 3:27pm Aug 20, 2007 3:27pm
I'm testing the EA also, and i have modified SL and TP for some pairs.

GBP/USD - TP=60 SL=25 Spread=4 Level closed=2

USD/JPY - TP=60 SL=20 Spread=3 Level Closed=3

USD/CAD - TP=55 SL=25 Spread=4 Level Closed=3

EUR/USD - TP=40 SL=10 Spread=2 CURRENT LEVEL=6

USD/CHF - TP=50 SL=15 Spread=4 CURRENT LEVEL=12

As I said before, i think a bigger SL and TP would give more space to the trade take the right direction and it wouldn't open so many positions.

Well i'll continue testing it's going very good, at least the ones who had bigger SL and TP let's see the others.

Regards
No Brain, no Gain.
  • #112
  • Aug 20, 2007 3:35pm Aug 20, 2007 3:35pm
Quoting BGazzoni
I'm testing the EA also, and i have modified SL and TP for some pairs.

GBP/USD - TP=60 SL=25 Spread=4 Level closed=2

USD/JPY - TP=60 SL=20 Spread=3 Level Closed=3

USD/CAD - TP=55 SL=25 Spread=4 Level Closed=3

EUR/USD - TP=40 SL=10 Spread=2 CURRENT LEVEL=6

USD/CHF - TP=50 SL=15 Spread=4 CURRENT LEVEL=12

As I said before, i think a bigger SL and TP would give more space to the trade take the right direction and it wouldn't open so many positions.

Well i'll continue testing it's going very good, at least the ones who had bigger SL and TP let's see the others.

Regards
Just remember that when you change the TP and SL settings from my default settings of 40/10 that you MUST recalculate the Lot Sizing Sequence and Margin requirements, otherwise you WILL have a problem.

Also, you should not just enter for the sake of Trading. I understand that you are testing but, for example, I would not Trade EURUSD and USDCHF today as they are both stuck in a tight range. Remember that this is a METHOD of executing a Trading Plan and must be used accordingly.

Dan
  • #113
  • Aug 20, 2007 3:44pm Aug 20, 2007 3:44pm
Quoting FXTradepro
Just remember that when you change the TP and SL settings from my default settings of 40/10 that you MUST recalculate the Lot Sizing Sequence and Margin requirements, otherwise you WILL have a problem.

Also, you should not just enter for the sake of Trading. I understand that you are testing but, for example, I would not Trade EURUSD and USDCHF today as they are both stuck in a tight range. Remember that this is a METHOD of executing a Trading Plan and must be used accordingly.

Dan
I know Dan, i just made that cause i want to see the worst case scenario

About the lot size i'll do some math today and i'll let you know.

Bruno
No Brain, no Gain.
  • #114
  • Aug 20, 2007 3:53pm Aug 20, 2007 3:53pm
Quoting BGazzoni
I know Dan, i just made that cause i want to see the worst case scenario

About the lot size i'll do some math today and i'll let you know.

Bruno

Good Bruno....I just wanted to make sure that you understood and that others reading the Thread are clear on these points.

Dan
  • #115
  • Aug 20, 2007 5:19pm Aug 20, 2007 5:19pm
Hi Dan,

Was just wondering, I like your spreadie, I take it's a spreadsheet, do you mind sharing that with us, you can protect or something, just to play about.

I think it is a very good strat, as he stated, how many times have you entered the market and it's gone against you and then for it to go in the direction intended!

It's happen to loads of time, and this is a live account.

I think people can play with SL and TP and depending, i mean I would be happy with TP set to 25 and SL with 10.

20 pips a day, 400 pips a month, not too bad, I guess.

Any way I 2 pence worth.

Though I will be monitoring this thread with interest like others! Keep it up Dan, sorry I don't mean to be rude and this has been addressed by yourself and the Mod, but I hope you will release the EA without time limitation, as I don't want to play about with the code, but I think this could be a successful system and with playing about with TP and SL (as everyone has different views on what is good for them) this could work!

Keep up the good work!

Thanks,
Guess

Thanks,
Guess
  • #116
  • Aug 20, 2007 5:39pm Aug 20, 2007 5:39pm
Quoting guess121
Hi Dan,

Was just wondering, I like your spreadie, I take it's a spreadsheet, do you mind sharing that with us, you can protect or something, just to play about.

I think it is a very good strat, as he stated, how many times have you entered the market and it's gone against you and then for it to go in the direction intended!

It's happen to loads of time, and this is a live account.

I think people can play with SL and TP and depending, i mean I would be happy with TP set to 25 and SL with 10.

20 pips a day, 400 pips a month, not too bad, I guess.

Any way I 2 pence worth.

Though I will be monitoring this thread with interest like others! Keep it up Dan, sorry I don't mean to be rude and this has been addressed by yourself and the Mod, but I hope you will release the EA without time limitation, as I don't want to play about with the code, but I think this could be a successful system and with playing about with TP and SL (as everyone has different views on what is good for them) this could work!

Keep up the good work!

Thanks,
Guess

Thanks,
Guess
Hello Guess.....I did not Post the Spreadsheet/Calculator previously because it may require some explanation to use. Also, I was trying to focus on the Set-Up I use and not get too complicated for those who are newer to the basic concepts of the Strategy. I WILL Post the Spreadsheet now at the bottom of this Post.

Please note that I created this SS in OpenOffice and not MS Excel and I have Posted both an OpenOffice version and an Excel version that I converted via OpenOffice in the attached ZIP file. Because of the conversion, I hope that there are no issues for Excel users.

Dan
Attached File(s)
File Type: zip FXTradepro Manager Calculator.zip   49 KB | 2,271 downloads
  • #117
  • Aug 20, 2007 9:59pm Aug 20, 2007 9:59pm
As Fxtraderpro has said several times, entry price is key.

To everyone experimenting with different pairs (since we know it works well on gbp/usd, as fxtraderpro is trading on it), I suggest you look at eur/jpy. It has all the explosive moves of gbp/jpy, with less than half the spread.

Get a pivot indicator, and have a look at 1H chart for support and resistance levels. This is a very good method of managing a trade. You just got to enter around the right area. Only thing is, you will not make much $$ per pip as opposed to some other methods. Other methods, 40 pips per day will make you very good returns, but here 40 pips will give you a modest return. Much better than the bank still.

Cheers,
K.
  • #118
  • Aug 20, 2007 10:10pm Aug 20, 2007 10:10pm
What other methods are you referencing? How would their probability profile compare to this one?
  • #119
  • Aug 20, 2007 10:46pm Aug 20, 2007 10:46pm
Quoting jones247
What other methods are you referencing? How would their probability profile compare to this one?

Hi Jones,

The reason I say this is because, take a look at this $s required in the account required to trade the entire sequence, as recommended by fxtraderpro. Eg. I think to trade at 400:1 margin, you need alteast 20K. Now, we start off trading at less than 1x leverage. In the first few sequences, if our tp is hit at 40pips, the $$ returns are less than if we are trading at say 5x lev eg for PhillipNel's 5M system, or linuxtroll's rainbow etc

Don't get me wrong, the more I think about this trade management strategy, the more I like it, and I think it is a brilliant method when you have a large value in your account, as the returns are going to be very very consistent, but modest.

I look forward to using this EA, sometime in the near future.

Regards,
K.
  • #120
  • Aug 20, 2007 10:59pm Aug 20, 2007 10:59pm
Quoting kermut
Hi Jones,

The reason I say this is because, take a look at this $s required in the account required to trade the entire sequence, as recommended by fxtraderpro. Eg. I think to trade at 400:1 margin, you need alteast 20K. Now, we start off trading at less than 1x leverage. In the first few sequences, if our tp is hit at 40pips, the $$ returns are less than if we are trading at say 5x lev eg for PhillipNel's 5M system, or linuxtroll's rainbow etc

Don't get me wrong, the more I think about this trade management strategy, the more I like it, and I think it is a brilliant method when you have a large value in your account, as the returns are going to be very very consistent, but modest.

I look forward to using this EA, sometime in the near future.

Regards,
K.
kermut.......The problem with most people wanting to get into Trading the FX Market is that many think they can Trade for Living starting with very Small Accounts. Perhaps some can. I have not been able to accomplish that. True, I am not boasting about 1% a day or more as many systems claim, however, in any other Market annual returns of 50%-100% would be considered fantastic.

Also, there are ways to trade this Strategy/Method with alternate Lot Sizing, a smaller Account and Larger Profits but there is MORE RISK in doing so. One could change the parameters so that a Sequence of Trades does not last as long as the 24 Levels I am discussing and work out calculations that are acceptable to them.

Just my opinion........And thanks for your contributions.

Dan
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