https://www.myfxbook.com/members/PippinUSA/718/2364203
So 18 years later, I decide to expose myself to everyone. (dumb move). I am hoping for same success in the future of coarse. But can I sustain a average 1% per month compounded investment ? Lets hope !!!! I need to Journal my emotional attributes to help me in the future. For me personally I believe that I need to be more accountable for the decisions I make as a trader. For example: When draw down occurs and I make decisions based on FEAR. Was the decision based on all emotional ? Or did I implement Technical, Fundamental and Money management along with my emotions? I have built an EA to manage a lot of emotional and stressful situations, but EA"s still can not fix a flash crash or unexpected Fundamental events. I have equity and emergency stops placed on EA for such events, but will the broker honor these? ( probably not ), especially if trades are open over the weekend. My hardest job is keeping Greed off the table because of this success, I want to make more money. But making more takes risking more, and taking risk will never end well. I blown 2 accounts with FXCM from 2000 to 2017 because I wanted out of my daily job so bad, my money management sucked! Only recently I have had success with profits and its because of mostly 2 reasons. 1) money management. 2) building an EA to help with money management.
My goal is to produce an average of 1% a month or better with no more than 20% draw down. Well that doesn't seem right, risking 20% for 1%. Well Its working for me so far and we will see in the future
My Strategy and EA: I start with 0.01 lot on $5000 account. I average in if position goes against 1st entry. I have EA equity management that will reduce TP when there is more than 1 position, closing all in a basket. EA also cost averages with lot sizes at extremes OB, OS areas. I use 1-15 minute period momentum divergence with RSI O/B or O/S levels. My emergency stops are usually 100-1000 pips. The take profit is 5-30 pips. TP is based on total basket of trades combined. If a second or 3 or more positions opened, the currency basket will be reduced by total opened trades and lot sizes. My equity stop is at 10-20%, which means I will intervene bye closing earlier positions. Grid is set 5-100 pips. Grid is dynamic based on volume and momentum. Low volume 5 pips, high volume 100 pips. 2% Margin leverage 50:1. Account / trade ratio (Risk) AGGRESSIVE -MODERATE for every $1000 trade 0.01/position lots.For CONSERVATIVE trade 0.01/position lots every $2000
EC Parameters:
history problem areas:
2010.5, 2010.7,
Resources: google cloud vps https://guidingstartechnologies.com/how-to-create-a-free-vps-on-google-cloud-for-mt4-eas/, https://www.myfxbook.com/help/connect-metatrader-ea,
Social sites:https://www.forexpeacearmy.com/, http://forex.today/,
Calendar/ Social : http://forex.today/, https://www.myfxbook.com/forex-economic-calendar
So 18 years later, I decide to expose myself to everyone. (dumb move). I am hoping for same success in the future of coarse. But can I sustain a average 1% per month compounded investment ? Lets hope !!!! I need to Journal my emotional attributes to help me in the future. For me personally I believe that I need to be more accountable for the decisions I make as a trader. For example: When draw down occurs and I make decisions based on FEAR. Was the decision based on all emotional ? Or did I implement Technical, Fundamental and Money management along with my emotions? I have built an EA to manage a lot of emotional and stressful situations, but EA"s still can not fix a flash crash or unexpected Fundamental events. I have equity and emergency stops placed on EA for such events, but will the broker honor these? ( probably not ), especially if trades are open over the weekend. My hardest job is keeping Greed off the table because of this success, I want to make more money. But making more takes risking more, and taking risk will never end well. I blown 2 accounts with FXCM from 2000 to 2017 because I wanted out of my daily job so bad, my money management sucked! Only recently I have had success with profits and its because of mostly 2 reasons. 1) money management. 2) building an EA to help with money management.
My goal is to produce an average of 1% a month or better with no more than 20% draw down. Well that doesn't seem right, risking 20% for 1%. Well Its working for me so far and we will see in the future
My Strategy and EA: I start with 0.01 lot on $5000 account. I average in if position goes against 1st entry. I have EA equity management that will reduce TP when there is more than 1 position, closing all in a basket. EA also cost averages with lot sizes at extremes OB, OS areas. I use 1-15 minute period momentum divergence with RSI O/B or O/S levels. My emergency stops are usually 100-1000 pips. The take profit is 5-30 pips. TP is based on total basket of trades combined. If a second or 3 or more positions opened, the currency basket will be reduced by total opened trades and lot sizes. My equity stop is at 10-20%, which means I will intervene bye closing earlier positions. Grid is set 5-100 pips. Grid is dynamic based on volume and momentum. Low volume 5 pips, high volume 100 pips. 2% Margin leverage 50:1. Account / trade ratio (Risk) AGGRESSIVE -MODERATE for every $1000 trade 0.01/position lots.For CONSERVATIVE trade 0.01/position lots every $2000
EC Parameters:
history problem areas:
2010.5, 2010.7,
Resources: google cloud vps https://guidingstartechnologies.com/how-to-create-a-free-vps-on-google-cloud-for-mt4-eas/, https://www.myfxbook.com/help/connect-metatrader-ea,
Social sites:https://www.forexpeacearmy.com/, http://forex.today/,
Calendar/ Social : http://forex.today/, https://www.myfxbook.com/forex-economic-calendar
Attached File(s)
EC last tested 8-13-18.set.txt
6 KB
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209 downloads
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Uploaded Aug 12, 2018 11:43pm