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The daily strategy - the different point of view

  • #181
  • Jul 28, 2017 4:30am Jul 28, 2017 4:30am
Quoting SuperPip
{quote} Thanks! That's a lot! Typically there are two types of strategies: 1) Focus on fixed small TP, lot of small wins, rare losses or even huge losses for making winning percent higher. 2) Focus on catching the bigger moves, but with many small losses and wins. First trading style is killing the account with strong movements against the trade. Second bleeds empty in the ranging markets. What do you preffer? SP
I prefer humongous tits. With tiny nipples though....
  • #182
  • Jul 28, 2017 6:41am Jul 28, 2017 6:41am
Quoting dkrock
{quote} I think both have merits. Before the OP went all psycho hillbilly on me, I said I thought this would work, but you need to cover your downside. If you are only taking 3 pips a day per pair, you cannot ride out a loss to infinity. You need to establish a stop loss, or you are wasting your time winning. However, if you can take 3 pips a day on 20 pairs, that's 60 pips, and that is big time money Another income stream is always worth looking into. Since it is against a Daily candle, that feels like a 1000 lot entry per pair for easy...
Testing this also, if you find anything useful just start a new thread you can control. This thread is a mess.
  • #183
  • Jul 28, 2017 10:13am Jul 28, 2017 10:13am
Quoting SuperPip
{quote} Thanks! That's a lot! Typically there are two types of strategies: 1) Focus on fixed small TP, lot of small wins, rare losses or even huge losses for making winning percent higher. 2) Focus on catching the bigger moves, but with many small losses and wins. First trading style is killing the account with strong movements against the trade. Second bleeds empty in the ranging markets. What do you prefer? SP
None of the above. This "strategy" if you would even call it that is just being plain lazy. Put the time, blood, sweat and tears into learning how the market works and trade it. If you come out the other side then well done. But targeting 3 pips is not sustainable, especially with a method that needs a 100% win rate (it may seem OP just finished babypips and is new to currency trading if he thinks a 100% win rate is viable with any strategy? Not having a go, just an observation).
  • #184
  • Jul 28, 2017 12:16pm Jul 28, 2017 12:16pm
VEEFX, man i have high esteem for you, but it's beyond me why you are so negatively involved in this thread.
Let it be, skip the thread and move on.

Otherwise let ewebb share his full entry/exit rules and see what you think, not before that.
Pick up the good bits integrate them in your trading if you can and dump the bad.
I have not come accross a trading style like ewebb is telling us here, that's why i would like to see how he's trading it, maybe there's something good in it for me, maybe not.
Persistence will get it. Consistency will keep it.
  • #185
  • Jul 28, 2017 1:26pm Jul 28, 2017 1:26pm
it something about OHLC - I'm on H and C only... breakout price on it... I will participated the PA... pivot point help me a lot.. anyway I want to see what this 3 pips TP it all about and will gave my opinion later.. I'm waiting you then.
  • #186
  • Jul 28, 2017 3:34pm Jul 28, 2017 3:34pm
Quoting VEEFX
{quote} I agree. It's not my place to "police" this forum or comment on strategies (and thank you for being respectful). I already have automation and it is not changing for generations to come once I address two outstanding vulnerabilities in my strategy. It evolved from going thru 100s of "process of elimination". I can rule out viability of any strategy within a few hours or a day max. My attempt to save years of misery for others is most likely an impossible endeavor. I just find myself in distraught at times reading personal pleas of help in...
Exactly! great reaction, couldnt have concluded it any better.
Persistence will get it. Consistency will keep it.
  • #187
  • Jul 28, 2017 11:01pm Jul 28, 2017 11:01pm
'None of the above. This "strategy" if you would even call it that is just being plain lazy. Put the time, blood, sweat and tears into learning how the market works and trade it. If you come out the other side then well done. But targeting 3 pips is not sustainable, especially with a method that needs a 100% win rate (it may seem OP just finished babypips and is new to currency trading if he thinks a 100% win rate is viable with any strategy? Not having a go, just an observation).'

I do not scalp. But I believe 3 pips or so is fine for scalping on 1 min-5 min time frame.

I do not think the OP wants opinion on his trading style/methodology, judging from his posts. His objective might be showing how his trading work or how well his system work in the market. I applaud him for his guts for doing this in the open 'Trading Discussion' sub forum, instead of 'Trading System' or 'Trading Journal' section.
'For the market to work, it needs people who think that they can beat it.'
  • #188
  • Jul 28, 2017 11:48pm Jul 28, 2017 11:48pm
Quoting AlastorFate
I do not scalp. But I believe 3 pips or so is fine for scalping on 1 min-5 min time frame. I do not think the OP wants opinion on his trading style/methodology, judging from his posts. His objective might be showing how his trading work or how well his system work in the market. I applaud him for his guts for doing this in the open 'Trading Discussion' sub forum, instead of 'Trading System' or 'Trading Journal' section.
Judging from his posts he doesn't, but in the first post he does ask for it.

"I'm sharing a strategy that has worked for me for a long while I will be answering questions and opened to suggestions to make it a better strategy."

Just looks like he's not ready to take criticism.

Anyhow, like I said, his method is not sustainable at all without any risk management and relying on needing a 100% win rate which is just fantasy. Like I said, a lazy man's strategy. At minimum he could have implemented risk management, but he's not even willing to do that.
  • #189
  • Jul 29, 2017 12:10am Jul 29, 2017 12:10am
'opened to suggestions to make it a better strategy'

To improve it without changing the trading system's innate nature obviously. If you force him to run his profit and use a stop loss, he is no longer using the system he was talking about, and thus defeat the purpose of him starting the thread in the first place.



'Anyhow, like I said, his method is not sustainable at all without any risk management and relying on needing a 100% win rate which is just fantasy. Like I said, a lazy man's strategy. At minimum he could have implemented risk management, but he's not even willing to do that. '

Because the system will fail if one uses a typical stop loss. I tried scalping before in my early years. Trading with a small stop loss is tough as hell, for scalping.

That is why I am not surprised he snapped when people urge him to use a stop loss.
'For the market to work, it needs people who think that they can beat it.'
  • #190
  • Jul 29, 2017 11:09am Jul 29, 2017 11:09am
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You cannot be extraordinary by being normal
  • #191
  • Jul 31, 2017 1:44am Jul 31, 2017 1:44am
Quoting ewebb205
{quote} I don't use a sl my theory proves that on a daily chart price moves at least 3 pips above and below market open There's a few days out of the year that there is no wicks on the daily candle.
Thease few days can make lets say 300 pips of loss.so what then?
  • #192
  • Aug 1, 2017 1:47am Aug 1, 2017 1:47am
Quoting VEEFX
{quote} Further playing around with the 3 pip TP approach, this strategy can indeed have some merit BUT only if the equity drawdown is acceptable. To me that is < 20% from peak to trough in AccountEquity. I ran my automation as-is but with 8 pip+spread as hard TP across 28 pairs. Balance tab looks like i have found the holy grail but a peak into equity tab reveals a completely different story :-) Attached just one day trading results (in demo) {image} {image}
Hi!
May I ask, what was the SL for trades?
  • #193
  • Aug 1, 2017 2:48am Aug 1, 2017 2:48am
Quoting ewebb205
Because of my job I'll do a work document and post that in ours 5-7 hours. I hope that's not too long for you guys.
Quoting ewebb205
I will write the strategy after work today and if I can figure out how to do a live trade I will.
This was posted 5 days ago... great way to loose interest from your readers ewebb.
Persistence will get it. Consistency will keep it.
  • #194
  • Last Post: Aug 1, 2017 10:30am Aug 1, 2017 10:30am
Quoting VEEFX
{quote} No SL just like the OP. let the losers run until I get to 8+ TP across M30, H1 and H4 timeframes for all 28 pairs. I got free margin and have a signal generated, I take it and wait for TP to hit, TP hit, frees up margin, then I take the next signal.. rinse and repeat all day every day :-
As I understood you entered from higher timeframe, 1H or smth. Can you describe what was your entry signal or is it secret?
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