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The REAL Traders Video Journal, 3-5% per month as a US trader

  • #621
  • Sep 14, 2017 9:56am Sep 14, 2017 9:56am
Getting cracked, at 9% drawdown.
Isn't this the point i pull the plug?
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  • #622
  • Sep 14, 2017 10:05am Sep 14, 2017 10:05am
Quoting faatkumo
Getting cracked, at 9% drawdown. Isn't this the point i pull the plug? {image}
always the big question.
your own drawdown tolerance tells when to stop.
sometimes it saves you from big loss, sometimes it robs you from rebound.
tough choice to make!!
there is always, always another trade!!
  • #623
  • Sep 14, 2017 10:09am Sep 14, 2017 10:09am
From my tests EURGBP was not a very good pair for that strategy since January 2016. But maybe my code is a bit different. I used RMI < 30 and inside bar as a buy signal.
I had max positions at 10, because I don't like more risk, which might cause the difference. So with those settings the best pairs were:
GBPCAD, AUDCAD, EURCAD, GBPAUD, NZDCAD
EURGBP was negative. I think there was (and still is) too much fundamental stuff at play. Also I think CAD is best because of oil correlation and AUD because of carry trades and also commodity prices. Risk on/off and commodity correlation might cause more frequent reversals.
  • #624
  • Sep 14, 2017 10:20am Sep 14, 2017 10:20am
Quoting profitfarmer
{quote} always the big question. your own drawdown tolerance tells when to stop. sometimes it saves you from big loss, sometimes it robs you from rebound. tough choice to make!!

Literally my profit for last month.
  • #625
  • Sep 14, 2017 10:24am Sep 14, 2017 10:24am
Quoting faatkumo
{quote} Literally my profit for last month.
=(
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  • #626
  • Sep 14, 2017 10:24am Sep 14, 2017 10:24am
Ryan has given us the blueprint. Use it, watch the videos. Watch/record his videos now if you already haven't. (I have) He's graduated to the next level! Ask him if he will mentor you, if not create your own way. There are a lot of ways of getting money in Forex. (Thank you Ryan for all of your hard work, you have now earned legendary status!)
"All the money is made between the lines"
  • #627
  • Sep 14, 2017 10:25am Sep 14, 2017 10:25am
Quoting profitfarmer
{quote} always the big question. your own drawdown tolerance tells when to stop. sometimes it saves you from big loss, sometimes it robs you from rebound. tough choice to make!!

I think at the end of the day like you said, tolerance will determine the performance of this strategy.


But I do remember Ryan saying 7% on his personal accounts is where he pulls the plug.
  • #628
  • Sep 14, 2017 10:51am Sep 14, 2017 10:51am
I would automate that step. it is too hard to decide manually, at least for me. For example I would use maximum of 10 positions and SL all at the same price, about 10 * 20 pips from the first position.
  • #629
  • Sep 14, 2017 11:48am Sep 14, 2017 11:48am
Quoting faatkumo
{quote} =( {image}
assume a demo?
there is always, always another trade!!
  • #630
  • Sep 14, 2017 11:51am Sep 14, 2017 11:51am
Quoting profitfarmer
{quote} assume a demo?

Yes indeed.
  • #631
  • Sep 14, 2017 11:51am Sep 14, 2017 11:51am
Quoting cornulala
I would automate that step. it is too hard to decide manually, at least for me. For example I would use maximum of 10 positions and SL all at the same price, about 10 * 20 pips from the first position.
the proverb goes something like this:
"the night is always darkest before down"

sometimes when it is feeling the most painful it might as well the final push to shake out the weak hands.
it is a very difficult decision to make for sure, i am facing similar problem myself right now, after the huge moves in GU and GJ.
right now somewhere within my tolerance still...but sure plays with my nerves more than i like too admit.
there is always, always another trade!!
  • #632
  • Sep 14, 2017 11:52am Sep 14, 2017 11:52am
Quoting faatkumo
{quote} Yes indeed.
in that case rather tolerable, and no need to skip sleep tonight.
happy you arent in that with real $$$.
there is always, always another trade!!
  • #633
  • Sep 14, 2017 12:15pm Sep 14, 2017 12:15pm
Quoting faatkumo
{quote} I think at the end of the day like you said, tolerance will determine the performance of this strategy. But I do remember Ryan saying 7% on his personal accounts is where he pulls the plug.
Also, I remember him advising someone to have their EA adjusted so that there is only 1 entry per bar. That would have definitely lessened the DD
  • #634
  • Sep 14, 2017 12:22pm Sep 14, 2017 12:22pm
Quoting profitfarmer
{quote} the proverb goes something like this: "the night is always darkest before down" sometimes when it is feeling the most painful it might as well the final push to shake out the weak hands. it is a very difficult decision to make for sure, i am facing similar problem myself right now, after the huge moves in GU and GJ. right now somewhere within my tolerance still...but sure plays with my nerves more than i like too admit.

I see what you mean.
Yes, i'm just hopeful, thats all..

I see you're in something similar... Well i'm glad its still within your means, definitely rattles some nerves.
  • #635
  • Sep 14, 2017 12:22pm Sep 14, 2017 12:22pm
Quoting LookinGood
{quote} Also, I remember him advising someone to have their EA adjusted so that there is only 1 entry per bar. That would have definitely lessened the DD


Yes he did, it would've saved me two entries i believe, so i'm seeking how this turns around. If it hits another 2 entries, i have to really rethink.
  • #636
  • Sep 14, 2017 12:25pm Sep 14, 2017 12:25pm
Quoting faatkumo
{quote} I see what you mean. Yes, i'm just hopeful, thats all.. I see you're in something similar... Well i'm glad its still within your means, definitely rattles some nerves.
indeed, since it isnt toy dollars
there is always, always another trade!!
  • #637
  • Sep 14, 2017 12:52pm Sep 14, 2017 12:52pm
Quoting faatkumo
{quote} Yes he did, it would've saved me two entries i believe, so i'm seeking how this turns around. If it hits another 2 entries, i have to really rethink.
Well, i'll tell you what i see from the chart you've posted. I'm not an expert of Cubby's system so this is just my interpretation.
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A. There was a spike up. All that means is there was some buyers there.
B. Price returns, there's a small wic indicating there was buying there again. The buying wasn't much though, the next bar went right back down.
C1. Inside bar. Sure it's an inside bar but consider that all those bars are small and buyers were unable to keep price going up on bar B and the following 2 bars. Also look at the two bars prior, they have wics at the the top.
C2. Another thing. The bar before was small and wasn't an indication of lots of selling. While it could just mean both sides were in a deadlock, most times it doesn't. I think what you wanna see is an inside bar that occurs after a large move on one or maybe two bars. Whats a large move? You gotta run that inside bar test.
D. GBP CPI so just know that there will be some volatility.
E. GBP Interest rates so just know that there will be a lot of volatility.

I think this trade could have benefited from a better inside bar pick and just being aware of upcoming news volatility and of course eliminating the double entry on 1 bar thing.
  • #638
  • Sep 14, 2017 3:45pm Sep 14, 2017 3:45pm
GBP/CAD M30 Short Trade
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  • #639
  • Sep 14, 2017 3:52pm Sep 14, 2017 3:52pm
Just closed and reached
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  • #640
  • Sep 14, 2017 4:08pm Sep 14, 2017 4:08pm
Quoting stevepatt
{quote} EUR/GBP H1 Observations {image}
EUR/GBP H1 Long Trade Update

After a Market fall like this I'd Anticipate a PullBack.

I certainly wouldn't feel comfortable Trading this way with as large a Bank as Ryan does.
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