No Guts, No Glory | Forex Factory

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No Guts, No Glory

  • #1
  • First Post: Apr 23, 2018 2:48am Apr 23, 2018 2:48am
This will be a private space for me to practice the forbidden, bending the rules and breaking the conventional wisdom.
No guts, no glory
  • #2
  • Apr 23, 2018 2:52am Apr 23, 2018 2:52am
Quoting abokwaik
This will be a private space for me to practice the forbidden, bending the rules and breaking the conventional wisdom.
Looking forward to learning Abokwaik...
  • #3
  • Apr 23, 2018 4:35am Apr 23, 2018 4:35am
We are not perfect, like to play on the side and ride into the danger zone.
No guts, no glory
  • #4
  • Apr 23, 2018 1:10pm Apr 23, 2018 1:10pm
The Target:

 

  1. double the balance every week.


The Setup:

 

  1. put aside a sum that you wont blink if you lose.
  2. divide it into 10 equal amounts.
  3. each amount represents a starting balance after blown out.


Trading Rules:

  1. Fade all breakouts.
  2. No fear.
  3. No stop loss.
  4. Add to losing positions
  5. Use high leverage.
  6. Don't close at loss, unless weekly target is achieved



Following posts will describe the trading systems that will be used.

No guts, no glory
  • #5
  • Apr 23, 2018 1:23pm Apr 23, 2018 1:23pm
subscribed!

is this an automated strategy or discretionary?
  • #6
  • Apr 23, 2018 1:43pm Apr 23, 2018 1:43pm
Quoting alphadude
subscribed! is this an automated strategy or discretionary?
both allowed. although I prefer discretionary as it is more greedy.

remember, this is a place to practice the bad, the ugly and the forbidden.
No guts, no glory
  • #7
  • Apr 23, 2018 1:51pm Apr 23, 2018 1:51pm
Quoting abokwaik
{quote} both allowed. although I prefer discretionary as it is more greedy. remember, this is a place to practice the bad, the ugly and the forbidden.
Some suggestions:
- Do not curry positions overnight. Close by EOD
- Trade during London/NY only
- Focus on low transaction cost pairs; such as EURUSD, USDJPY.
- Avoid all crosses
- Backtesting the strategy (be it discretionary or automated)
  • #8
  • Apr 28, 2018 1:05pm Apr 28, 2018 1:05pm
Quoting abokwaik
The Target: double the balance every week. The Setup: put aside a sum that you wont blink if you lose. divide it into 10 equal amounts. each amount represents a starting balance after blown out. Trading Rules: Fade all breakouts. No fear. No stop loss. Add to losing positions Use high leverage. Don't close at loss, unless weekly target is achieved Following posts will describe the trading systems that will be used.
That's the way to go. Trading is completely mathematics. No rule governs the market except properly using the lowest of your margin. Enter at a good place, hope for profit. In case , you go in loss, Look for another place to add to the loosing position. recover the loss , get some profit. That's it. Enjoy trading.
Forex; the game of movements not the game of candles.
  • #9
  • Apr 28, 2018 11:01pm Apr 28, 2018 11:01pm
Quoting abokwaik
This will be a private space for me to practice the forbidden, bending the rules and breaking the conventional wisdom.
Hehe it's not private anymore...very interesting way of going about this, should you be going about this for a weekly target then this amounts to 15% compounded daily target. With the right tool this can be done. Good training for emotional detachment.
Once this is systematic then it becomes a lethal tool of execution.
I wish you success in your private thread.
R:R "Percentage Focus"
  • #10
  • Apr 30, 2018 3:07pm Apr 30, 2018 3:07pm
Possible suggestion: start the fading of all breakouts after price reaches average range for the day. Still plenty of trades to be had
  • #11
  • Apr 30, 2018 3:17pm Apr 30, 2018 3:17pm
I apologise for not following up on this as I'm suffering a muscle-nerve disorder in my upper right-hand side for 2 weeks now.

I will follow up once I recover.
Thank you all.
No guts, no glory
  • #12
  • Apr 30, 2018 3:19pm Apr 30, 2018 3:19pm
Quoting abokwaik
I apologise for not following up on this as I'm suffering a muscle-nerve disorder in my upper right-hand side for 2 weeks now. I will follow up once I recover. Thank you all.
Hope you feel better - health, family first, always...
  • #13
  • May 2, 2018 4:11pm May 2, 2018 4:11pm
Quoting PrinceJ58
{quote} Hehe it's not private anymore...
Well J, I'm sure you know that I used "private" for "special" here .
The idea is to use risky radical trading methods on tiny accounts that is not possible with normal accounts.
So yes, it is a sort of private space or a dark room (if you like) , where you can freely test your wildest thoughts with no fear of losing, and the potential of hitting a home run on one of those tiny accounts some time.

I'll be back when I can.
No guts, no glory
  • #14
  • May 2, 2018 5:10pm May 2, 2018 5:10pm
Quoting abokwaik
{quote} Well J, I'm sure you know that I used "private" for "special" here . The idea is to use risky radical trading methods on tiny accounts that is not possible with normal accounts. So yes, it is a sort of private space or a dark room (if you like) , where you can freely test your wildest thoughts with no fear of losing, and the potential of hitting a home run on one of those tiny accounts some time. I'll be back when I can.
news trading is perhaps the quickest way to the riches
  • #15
  • May 2, 2018 5:12pm May 2, 2018 5:12pm
Quoting abokwaik
{quote} Well J, I'm sure you know that I used "private" for "special" here . The idea is to use risky radical trading methods on tiny accounts that is not possible with normal accounts. So yes, it is a sort of private space or a dark room (if you like) , where you can freely test your wildest thoughts with no fear of losing, and the potential of hitting a home run on one of those tiny accounts some time. I'll be back when I can.
Well i do understand quite well A.K. and have been both privately and publicly engineering such a thinking, which can be a method that cannot be easily comprehended, sold, nor repeated by, John, Jessica or Jack as i have sadly noted.

Nevertheless, as a work in progress, I will be here to observe, analyse & help in favour of your idea. Otherwise i do agree that the room may become dark, through the presense of lack of belief or comprehension.

I do declare from early not to know everything.
I do entertain opinion and suggestions from others but view this business as an individual execution base activity not to be mirrored. Moreso it is best individualized according to ones needs and tolerance levels.

I also openly mention that when an individual pushes the trigger to buy, sell, make gain or losses, i did not hold your finger. Losses can exceed the cost of sleeping pills, so please purchase some before proceeding. Profits may come, it may also visit, should you see it and be able to nurture it, its existence may become a regular occurance. Please let it develop into a natural process. Rules do apply...
R:R "Percentage Focus"
  • #16
  • May 3, 2018 8:46am May 3, 2018 8:46am
Up to this day the principles in L.A.S.T system is very good...so could eliments from that be incorporated into this method. Along with pyramiding on lasting/strong trends.
What would be considered failed breakouts will determine alot...
R:R "Percentage Focus"
  • #17
  • Edited Nov 7, 2022 9:25am May 3, 2018 6:32pm | Edited Nov 7, 2022 9:25am
Hi, Mr. Abokwaik!

First, I would like to thank you for your sincere contribution in assisting both the beginners and accomplished traders meet their objectives in trading. I must say I’ve learnt a lot from your FF threads. However, I'd like to ask for just one favor, although it's not in line with what is being discussed here.

Is it possible to extend the expiry date set on the robot (expert advisor) I'm using? It's set to expire in a month, and I’ll be forced to reinstall a fresh, which is quite hectic. It can automatically place your stop loss and take profit (even for pending orders) , display current spread, has option for break even, partial loss, trailing profit and much more. I know you’re a great coder and that’s why I’m personally reaching out, and I belv it will also help other traders too.

I have attached a screenshot of how it looks like on a chat and the robot itself.

Thanks In advance

{ virus risk deleted by staff }
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  • #18
  • May 7, 2018 10:26am May 7, 2018 10:26am
Quoting abokwaik
I apologise for not following up on this as I'm suffering a muscle-nerve disorder in my upper right-hand side for 2 weeks now. I will follow up once I recover. Thank you all.
How have you been?
R:R "Percentage Focus"
  • #19
  • May 7, 2018 10:29am May 7, 2018 10:29am
Awaiting updates. Cheers.
  • #20
  • May 13, 2018 4:37pm May 13, 2018 4:37pm
Let see how it goes this experiment and hope you are getting better.

Regards
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