Hi All Missed signals Monday and havent seen any new ones. How yall doing?
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Today XAUUSD Buy. I use demo account, just looking at drawdown. If you use normal MM 1-2% per trade, such drawdown would not kill your account. It necessary to watch at such system some months (as it is D1 timeframe) before making conclusions.
The system was, from the outset, shared with the intention of gaining lessons and, if possible, improve on it. It seems some people on this forum came with an "I told you so" mindset. Jay stated that he was open to, and had accepted, the possibility of the account blowing up, instead of feeling good about the account blowing up, take positives and tweak the system where you can!
you did a good job. what you need to do is automate this system and try to find a good risk management setup.
If you plan to automate this system, I can join
{quote} We all do right? At least once in a while. He did great though revealing how he trades. Very open minded guy.
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Totally agree.
Regardless of what has happened with Jay's trading, if anything, I am certainly appreciative of his generosity to come here and share what he does and how he does it.
Having said that, I suspect that this thread is not dead, and will not die.
Best to you Jay. Jump back in here when you are good and ready, and only then.
The only problem i see is the signals from American Bulls. They are pretty lame. One Bitcoin signal was removed after one day which is untradable but they want to keep their average up. They seem to be a day late if you ask me.
Instead why not read the chart yourself? ie open of GBP/ JPY June 29 candle is a hammer off the lower Bollinger band. That screams buy to me. Now bull flag so stay long.
Personally I think you should trade the best 2 or 3 setups. The rest of Jay's plan seems to be working.
The only problem i see is the signals from American Bulls. They are pretty lame. One Bitcoin signal was removed after one day which is untradable but they want to keep their average up. They seem to be a day late if you ask me.
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Yes, this is the main problem, from my view. Many signals are day late and untradable or poor tradable...But I still plan to continue demo trading with proper MM. My DD now is about 20%, trading since 10 June. If I keep MM strictly 1% per order, DD could be about 7-10%, I think.
agreed, this strategy can be profitable, just need to trade with good money management, since it is daily chart based strategy, the lot size should be small as the drawdown can be big ( return can be big too if R:R is 1:1)
{quote} Today XAUUSD Buy. I use demo account, just looking at drawdown. If you use normal MM 1-2% per trade, such drawdown would not kill your account. It necessary to watch at such system some months (as it is D1 timeframe) before making conclusions.
The system was, from the outset, shared with the intention of gaining lessons and, if possible, improve on it. It seems some people on this forum came with an "I told you so" mindset. Jay stated that he was open to, and had accepted, the possibility of the account blowing up, instead of feeling good about the account blowing up, take positives and tweak the system where you can!
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Exactly. And as always everyone after the silver bullet. This system works, just tweak it to suite you. I for example dont do that multiple trades which I found is the issue. More so when it goes against you.
