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  • #1,841
  • Nov 13, 2017 3:13am Nov 13, 2017 3:13am
EURCHF

Now short
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 68 KB

Masterrmind.............
Master your Mind then Master your Trades
  • #1,842
  • Nov 13, 2017 3:17am Nov 13, 2017 3:17am
NZDJPY

Now Long
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 73 KB

Masterrmind.............
Master your Mind then Master your Trades
  • #1,843
  • Nov 13, 2017 3:27am Nov 13, 2017 3:27am
GBPJPY

Now long
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 75 KB

Masterrmind...........
Master your Mind then Master your Trades
  • #1,844
  • Nov 13, 2017 12:48pm Nov 13, 2017 12:48pm
Hi Masterrmind,

I am posting two charts showing performance of EU currency futures options bought last month.
Just to know the scope for profit/loss in short-term trading.

I will be posting strategy soon as per your setup.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: In one month EU call options lose 66% of value..jpg Size: 934 KB
Click to Enlarge Name: EU put options in 20 days gained 70 pips a gain of 140%.jpg Size: 856 KB
Practice makes a person perfect
  • #1,845
  • Nov 13, 2017 5:37pm Nov 13, 2017 5:37pm
Quoting Masterrmind
EURCHF Now short {image} Masterrmind.............
EURCHF

+19.4 pips
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 67 KB

Masterrmind............
Master your Mind then Master your Trades
  • #1,846
  • Nov 13, 2017 5:39pm Nov 13, 2017 5:39pm
Quoting Masterrmind
GBPJPY Now long {image} Masterrmind...........
GBPJPY

TP +65 pips
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 76 KB

Masterrmind...........
Master your Mind then Master your Trades
  • #1,847
  • Nov 13, 2017 5:41pm Nov 13, 2017 5:41pm
Quoting Masterrmind
NZDJPY Now Long {image} Masterrmind.............
NJ

Trade remains open at this stage.

Masterrmind............
Master your Mind then Master your Trades
  • #1,848
  • Nov 13, 2017 5:58pm Nov 13, 2017 5:58pm
Quoting simnz
Hi Masterrmind, I am posting two charts showing performance of EU currency futures options bought last month. Just to know the scope for profit/loss in short-term trading. I will be posting strategy soon as per your setup. {image} {image}
Yes thats good.

I am assuming that your strategy will cover EU and UJ.

Masterrmind............
Master your Mind then Master your Trades
  • #1,849
  • Nov 13, 2017 6:08pm Nov 13, 2017 6:08pm
Quoting simnz
Found some information on PPP for Euro https://www.poundsterlinglive.com/eu...e-is-justified “The ECB meeting is coming up next week and there are rising risks of verbal intervention from Mario Draghi... ECB verbal rhetoric may cause a correction but is unlikely to be enough to derail Euro strength,” says George Saravelos, a London based foreign exchange strategist with Deutsche Bank. On the Purchasing Power Parity measure, Saravelos notes the EUR/USD pair should trade around 1.23...
No wonder my poor little EN short is suffering at the moment.

Not sure how much longer I will keep it open but I do have several recovery strategies at my disposal.

Masterrmind..............
Master your Mind then Master your Trades
  • #1,850
  • Nov 14, 2017 5:57pm Nov 14, 2017 5:57pm
Quoting Masterrmind
{quote} No wonder my poor little EN short is suffering at the moment. Not sure how much longer I will keep it open but I do have several recovery strategies at my disposal. Masterrmind..............
Challenge account having been traded very aggressively is bordering on breaching the DD limit.

If the DD limit is breached in myfxbook I will politely withdraw from Challenge 1.

Depending on many factors especially PA I may flood the account with funds in a staged sequence if required using a recovery strategy.

The recovery strategy may not be shown nor outlined in this thread since its unfair in some respects if I show a greatly increased account balance and a few relatively higher lot size entries (for example, 5 lots to 10 lots or higher) that eliminate the floating loss rather rapidly.

Updates in due course.

Masterrmind.............
Master your Mind then Master your Trades
  • #1,851
  • Nov 14, 2017 6:00pm Nov 14, 2017 6:00pm
Quoting simnz
Hi Masterrmind, I am posting two charts showing performance of EU currency futures options bought last month. Just to know the scope for profit/loss in short-term trading. I will be posting strategy soon as per your setup. {image} {image}
I look forward to an updated post from you simnz.

Masterrmind............
Master your Mind then Master your Trades
  • #1,852
  • Nov 14, 2017 6:08pm Nov 14, 2017 6:08pm
Quoting Masterrmind
{quote} NJ Trade remains open at this stage. Masterrmind............
NJ

SL -26.9 pips.

Masterrmind.............
Master your Mind then Master your Trades
  • #1,853
  • Nov 15, 2017 2:55am Nov 15, 2017 2:55am
Quoting Masterrmind
{quote} Challenge account having been traded very aggressively is bordering on breaching the DD limit. If the DD limit is breached in myfxbook I will politely withdraw from Challenge 1. Depending on many factors especially PA I may flood the account with funds in a staged sequence if required using a recovery strategy. The recovery strategy may not be shown nor outlined in this thread since its unfair in some respects if I show a greatly increased account balance and a few relatively higher lot size entries (for example, 5 lots to 10 lots or higher)...
After 14 days from the beginning of this challenge, I am at be
My trading choices have been conditioned from the challenge. It can be a good thing and also a bad thing
According to my trading style, I usually expect to have the majority of the trades in loss or be and some winning trades
The winning trades with larger profit than losses
To get results using this kind of trading style, it is necessary a certain time and 1 month is too small
So, I changed a bit my trading style and I took trades intraday too
It's not my field, but it is a chance to improve

From now I realized that my best winning trades arrived not because of added positions but because of larger size
I am happy to have gotten those winning trades, but it is a coincidence and it is not the result of a good way to operate
Indeed, in the loosing trades, I did what I should do. Accept the loss and go further

It's very important to analyze the results not pointing our attention on the gain or loss but focusing on the correct or incorrect way we used to get them

In the short term the results could be liars

For the next, I want to be more patient and wait for the occasions where I can point to large gain adding positions without increasing the risk

Masterrming, regarding your account, I am sure you will have the chance to recover the actual loss. If within this challenge or not is not the main point. You know what is my thought, results should be verified in a long run and 1 month is not suitable
  • #1,854
  • Nov 15, 2017 3:13am Nov 15, 2017 3:13am
Quoting Eldero
{quote} After 14 days from the beginning of this challenge, I am at be My trading choices have been conditioned from the challenge. It can be a good thing and also a bad thing According to my trading style, I usually expect to have the majority of the trades in loss or be and some winning trades The winning trades with larger profit than losses To get results using this kind of trading style, it is necessary a certain time and 1 month is too small So, I changed a bit my trading style and I took trades intraday too It's not my field, but it is a...
Yes agreed.

The main focus of the challenge was to learn and appreciate what stress can do when target gains over a short period of 1 month can do to a trader.

Especially their thought processes, ability to contain risk or attempt to let loose on higher risk trades when a few losses have occurred or indeed as an attempt to make the grade so to speak.

I find that trading the MML intraday is rather risky in its current approach and might need to be adapted.

What I do know is that in terms of trading I enjoy the longer term setups afforded by the D1 TF with a combination of Quad & MML.

But I must point out that trading pure price action on any TF is my main trading strategy (higher the TF the more I add in the fundamentals).

However, this challenge was focused on the M15/M5 MML intraday approach so it was applied.

So I think we can put the challenge to rest (but you are free are to continue if you wish) but I'm out of this one!

The recovery appraoch is not that difficult its just fast in fast out higher lot size for smaller movements and a higher relative profit per time.

I think it best to return to Quad-MML discussions for both D1 and intraday (for those interested).

I know OAPDave has some interesting ideas on the MML trade setups so I hope he shares them here on the thread and we all can take the ideas much further.

However, moving forward either now or start of December (yes the end of the year is fast approaching) I will look to trade the main method here which is Quad-MML and look at setups on D1 TF.

Thanks for being part of the challenge Eldero you are one of a very few to participate.

Next year I will start a trading account purely focussed on D1 Quad-MML commencing in January 2018 and see how far I can take it over the year.

I appreciate your commentary and I hope it continues.

ps. that myfxbook analytics is having some issues though ... hopefully they sort that out.

pps. I am happy to have a continued discussion of both D1 and lower TF MML for those keen on the idea.

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #1,855
  • Nov 15, 2017 4:14am Nov 15, 2017 4:14am
Quoting Masterrmind
{quote} Yes agreed. The main focus of the challenge was to learn and appreciate what stress can do when target gains over a short period of 1 month can do to a trader. Especially their thought processes, ability to contain risk or attempt to let loose on higher risk trades when a few losses have occurred or indeed as an attempt to make the grade so to speak. I find that trading the MML intraday is rather risky in its current approach and might need to be adapted. What I do know is that in terms of trading I enjoy the longer term setups afforded...
I will surely follow your new thread
  • #1,856
  • Nov 16, 2017 6:04am Nov 16, 2017 6:04am
Quoting Masterrmind
{quote} I look forward to an updated post from you simnz. Masterrmind............
One month performance of bought JPYUSD options.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: JPY Call options a month ago.png Size: 151 KB
Click to Enlarge Name: JPY put options a month ago.png Size: 148 KB
Practice makes a person perfect
  • #1,857
  • Nov 17, 2017 2:19am Nov 17, 2017 2:19am
Quoting Masterrmind
{quote} The main focus of the challenge was to learn and appreciate what stress can do when target gains over a short period of 1 month can do to a trader.
Well, MM, you tried with your usual clarity and transparency - very rare here at FF - so I say "Respect" .
  • #1,858
  • Nov 17, 2017 5:21pm Nov 17, 2017 5:21pm
Quoting JaqenHgar
{quote} Well, MM, you tried with your usual clarity and transparency - very rare here at FF - so I say "Respect" .
Thank you JaqenHgar for the positive comments it is much appreciated.

Although I have withdrawn from Challenge 1 on the basis of exceeding the DD limit the account will still be traded.

A short for 4 lots in NY session looking to enter after rejection of the 5/8 MML with a TP closer to the 3/8 MML (manual close before market end):
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 42 KB

Here is a snapshot of current progress:
Attached Image (click to enlarge)
Click to Enlarge Name: Challenge_1_update.png Size: 59 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 39 KB

Note 1: Current DD is double digit

Note 2: Funds can be immediately transferred into the current account at any time if needed including over the weekend when the market is closed since funds are readily available in several additional trading accounts held at the same brokerage firm.

Note 3: Having additional funds immediately available to boost account equity is itself a big part of the recovery strategy that I apply.

Note 4: Funds are held off from depositing purposes for as long as possible but are based on the continued analysis of the trade setup.

Masterrmind.............
Master your Mind then Master your Trades
  • #1,859
  • Nov 17, 2017 6:31pm Nov 17, 2017 6:31pm
Some additional statistics of traded pairs.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 40 KB

Looking at the table it becomes clear that some losses occurred for the GBPUSD, NZDJPY and USDCAD symbols.

An important part of trading is to attempt to make sense of the available statistics by analyzing these trades in detail.

Search for any obvious signs of poor trade error and the reasons why ... always try to improve wherever possible.

It may not always be clear why any given trade turns to loss.

Focus on the obvious ones.

Ultimately what I attempt to do is reduce these losses over time.

By that I mean turning the statistics on every traded symbol into net positive profit per pair.

This does not mean that I will focus all my attention on it, simply that I am aware of these recorded losses and that given an opportunity I will look to improve these values.

Masterrmind............
Master your Mind then Master your Trades
  • #1,860
  • Nov 18, 2017 11:53pm Nov 18, 2017 11:53pm
Quoting simnz
{quote} One month performance of bought JPYUSD options. {image} {image}
Thanks for posting.

Any month by month results of your approach whilst the current trades play out in the background.

I was wondering if this account is newly opened or been trading for several months.

If the case is for several months then do you mind reporting say the Equity% gain versus DD% on the account.

No need to give actual balances ofcourse as this might be personal to you.

Just the main trading analytics would be rather interesting.

Masterrmind...........
Master your Mind then Master your Trades
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