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  • #901
  • Aug 29, 2018 8:53am Aug 29, 2018 8:53am
MTTTM Live account.

Trading is progressing very well.

ps. I haven't even started to put the foot down hard yet !

Masterrmind............
Master your Mind then Master your Trades
  • #902
  • Sep 8, 2018 10:27pm Sep 8, 2018 10:27pm
MTTTM Live Approach

As shown the 1st month gain was +25%.

My intention is to trade over a 3 month period, collect the monthly gains and then average them to form a projected monthly target.

For example,

Month 1 = +25%
Month 2 = +15%
Month 3 = +20%

Average (over 3 months) = (25% + 15% + 20%)/3 = +20%
Compounded monthly target then becomes +20%.

It does not make much sense to use only the 1st months gain as a future target since it may not represent ongoing averages.

This may well be true for a 3 month average too but its 'better' than using only 1 month of trading data.

In any case, every 3 month period this will be re-calculated to form a new monthly target.

As the months tick by I'll also consider the impact of typically slower months such as mid December through to mid January.

If 20% does happen to be the target then I may accelerate any future months gain prior to mid December to compensate for this short fall.

At a minimum I plan to compound the account at double digits month on month with close to 25% per month long term being the objective.
Only the 3 monthly average will alter my view on this 25% objective so lets wait and see how this plays out.

Here is a simple compound chart showing how a 25% monthly compound rate unfolds in time.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 11 KB

Unlikely that any trader can follow this curve but its something to wet the appetite.

The TE under my signature will show the current months gain as it occurs.

Transparent trader at work in this space !

ps. Note that this account is only a small 1K account and is being traded at higher relative risk so anything could happen !

Masterrmind.............
Master your Mind then Master your Trades
  • #903
  • Sep 9, 2018 5:27am Sep 9, 2018 5:27am
Kind of Got a little bit lost when you traded your live 1K Account, So for the intra day you are not looking at using a full TS just the one pair?

Also current strike rate on the 1 hour MTTM system for you has it been better than when you were on the 15? Noting that the amount of Pips required to hit TP is going to be remotely a little larger.. I noticed you were closing them out a little before TP levels..

I am going to try throw a TS 2 or TS 3 depending on how i'm feeling in the morning I will have a slightly different approach I will open 2 posits per pair aim for a 1R move then move to BE on the second posit to try and hit the 4R level with TS at 2R.. This is how I normally open orders anyway but it will mean your calculations will be out a little ( which I'm not overly fussed with ) If I can lock in BE and small Profit per Pair I am ok with that..

I noticed you have said you are phasing out MT4 indi's, are you going to have MT5 versions available..

I am slowly migrating to Mt5 now as I do like the 8 and 12Hr charts..

Anyway seems a nice approach will be prepared to try
  • #904
  • Sep 10, 2018 12:29am Sep 10, 2018 12:29am
Quoting M4ttc00p
Kind of Got a little bit lost when you traded your live 1K Account, So for the intra day you are not looking at using a full TS just the one pair? Also current strike rate on the 1 hour MTTM system for you has it been better than when you were on the 15? Noting that the amount of Pips required to hit TP is going to be remotely a little larger.. I noticed you were closing them out a little before TP levels.. I am going to try throw a TS 2 or TS 3 depending on how i'm feeling in the morning I will have a slightly different approach I will open 2 posits...
I deleted a post awhile back that mentioned how I would trade the live 1K account using the MTTTM Strategy.
Main reason was lack of trader participation.

So here is a brief overview of how I am currently trading the Live account

It is being traded using higher relative risk meaning higher lot sizes for a 1K account (to accelerate the gain in equity mainly).
The plan is to build it up to an Equity I am happy with to start trading the full MTTTM system using multiple pairs.

Ofcourse, a trader could trade 3 pairs on a 1K account but its a rather slow approach if the trading rules are strictly applied.
Its slow because the rules favor long term survival in the market and therefore Gains in Equity are modest compared to the risk.

Currently its an almost scalping type approach off MML levels but one could be forgiven for suggesting that it is pure scalping, which it is not.
High relative lot approach means I am reading PA on the chart and if I think price may reverse against my position then I will exit rather swiftly.
This is why currently the largest loss on the account is about 1% even though I'm trading as much as 1Lot per 1K.
At this lot size ratio price does not have to move far against my position to eat up 1-2% of Equity.

What I am looking to do though is get into a 'good trade' off an MML level and lock it in at BE+a few pips for a free ride and then trail my stop.

I apply Chart structure, harmonics, PA analysis, confluence of multiple factors and a genuine feel based on experience.

Difficult to teach this current approach on a slow moving thread especially when trades may close out in minutes should a reversal against my position occur and better to look over the full MTTTM system outlined in Post 1 which I'm sure you have already read.

So that's about it, looking to make a largish gain in a short period of time and then revert to the full MTTTM system approach using multiple pairs.

The demo accounts (1@10K and the other 1@3K) currently show the MTTTM system using multiple pairs but without trader discretion, almost a set&forget type approach.

Questions are welcome.

ps. I will be looking to make 100's %'s of Gain in Equity on this account so it may be active for at least the rest of this year !

Masterrmind..............
Master your Mind then Master your Trades
  • #905
  • Sep 10, 2018 1:11am Sep 10, 2018 1:11am
Quoting M4ttc00p
Kind of Got a little bit lost when you traded your live 1K Account, So for the intra day you are not looking at using a full TS just the one pair? Also current strike rate on the 1 hour MTTM system for you has it been better than when you were on the 15? Noting that the amount of Pips required to hit TP is going to be remotely a little larger.. I noticed you were closing them out a little before TP levels.. I am going to try throw a TS 2 or TS 3 depending on how i'm feeling in the morning I will have a slightly different approach I will open 2 posits...
I thought I would use a separate post for the rest of your questions.

Nice to know at least a few are following along.

M15 and H1 have their differences based mostly on the octive gaps of each TF.
Higher TF typically a larger stop and larger target but certainly not always.
Cycle start time has a big say in this or more specifically the actual octive gap at cycle setup time.

The Demo account mated with the thread posts will provide some information about strike rate.
However, to be fair there were 16 cycles (up to 9 trades each) completed on M15 TF and currently only 5 by H1 cycles completed.
To make a reasonable comparison between the 2 TF's I would at least require same number of cycles meaning 11 more H1 cycles.
I keep tabs on all cycles on an Excel spreadsheet so strike rate per TF is a breeze to analyze.
I will post a chart when the comparison is ready for the masses.

Some early closures have occurred so this mucks with the statistics a little bit but histrorical charts can be analyzed to decide what "might have been" had the trades run their course untouched.
If such modifications are made they will be documented.

Good to see you having a go at modifying positions but yet still seeking the 4R.
Let me know how you progress.

I will be converting to MT5, mostly have already however, no MT5 indicators will be posted if the participation remains low.

More than happy to upload multiple indicators when the thread is active but see no point if its static.

Good trading,

Masterrmind..............
Master your Mind then Master your Trades
  • #906
  • Sep 10, 2018 1:42am Sep 10, 2018 1:42am
Quoting simnz
myfxbook https://www.myfxbook.com/portfolio/d...chaser/2608562 {image}
Guru,
Awaiting your expert advice.
Updating the record
https://www.myfxbook.com/portfolio/d...chaser/2608562
Attached Image (click to enlarge)
Click to Enlarge Name: My paper trading transactions live.jpg Size: 290 KB
Practice makes a person perfect
  • #907
  • Sep 10, 2018 1:45am Sep 10, 2018 1:45am
Quoting Masterrmind
{quote} I deleted a post awhile back that mentioned how I would trade the live 1K account using the MTTTM Strategy. Main reason was lack of trader participation. So here is a brief overview of how I am currently trading the Live account It is being traded using higher relative risk meaning higher lot sizes for a 1K account (to accelerate the gain in equity mainly). The plan is to build it up to an Equity I am happy with to start trading the full MTTTM system using multiple pairs. Ofcourse, a trader could trade...
May I request you to restore the deleted post. Thank you.
Practice makes a person perfect
  • #908
  • Sep 10, 2018 4:20am Sep 10, 2018 4:20am
Quoting simnz
{quote} Guru, Awaiting your expert advice. Updating the record https://www.myfxbook.com/portfolio/d...chaser/2608562 {image}
I will send it to you and not post the response here since you are trading a system unrelated to the MTTTM methodology.

Expect it very soon.

Masterrmind.............
Master your Mind then Master your Trades
  • #909
  • Sep 10, 2018 4:22am Sep 10, 2018 4:22am
Quoting simnz
{quote} May I request you to restore the deleted post. Thank you.
Post further above gives a fairly good idea of what the deleted post was all about as regards to the Live account methodology.

Basically, enter near an MML level with relatively high lots and get out if PA becomes unfavorable.

Masterrmind..............
Master your Mind then Master your Trades
  • #910
  • Sep 10, 2018 7:13am Sep 10, 2018 7:13am
Quoting Masterrmind
{quote} I will send it to you and not post the response here since you are trading a system unrelated to the MTTTM methodology. Expect it very soon. Masterrmind.............
Message sent.

Masterrmind..............
Master your Mind then Master your Trades
  • #911
  • Sep 11, 2018 5:38am Sep 11, 2018 5:38am
Quoting Masterrmind
{quote} I thought I would use a separate post for the rest of your questions. Nice to know at least a few are following along. M15 and H1 have their differences based mostly on the octive gaps of each TF. Higher TF typically a larger stop and larger target but certainly not always. Cycle start time has a big say in this or more specifically the actual octive gap at cycle setup time. The Demo account mated with the thread posts will provide some information about strike rate. However, to be fair there were 16 cycles (up to 9 trades each) completed...

Awesome, Well I was looking at the 1k real and thought it was definitely more a scalping tech, using an entry around the MML's..

I was only asking about the strike rate due to the fact the MML's will be a little different on each TF.. I would prefer the larger targets and will mainly aim at hitting the 1 Hr charts myself, but if you were noticing more cycles were making the 4R on 15 min TF it may be better to keep with the lower TF. Will be good to know the outcome anyways..

Doing some good work, its a shame not much participation.. Maybe its a little too hard for some people to follow as it requires a little bit of work.. But after reading everything I think I have got my head around it.. Will share what I have got once I get going on it all need to be off night shifts though as I cant focus after my shift to even look at the charts..
  • #912
  • Sep 11, 2018 8:33am Sep 11, 2018 8:33am
Quoting M4ttc00p
{quote} Awesome, Well I was looking at the 1k real and thought it was definitely more a scalping tech, using an entry around the MML's.. I was only asking about the strike rate due to the fact the MML's will be a little different on each TF.. I would prefer the larger targets and will mainly aim at hitting the 1 Hr charts myself, but if you were noticing more cycles were making the 4R on 15 min TF it may be better to keep with the lower TF. Will be good to know the outcome anyways.. Doing some good work, its a shame not much participation.. Maybe...
If you look at the TE and in particular the Return by Trade graph you'll see that several trades for relatively small gains are made followed by an aggressive few trades.

Basically what I'n doing here is building up some 'buffer profit' that might later be used to offset a loss that might occur from an even higher lot trade entry.

The buffer buildup phase is very important since it "scalps" relatively lower risk profit from out of the market and compensates for an eventual loss that may occur in an aggressive entry trade.

The flow of the chart gives away much of what I have said.

Here is the chart:
Attached Image (click to enlarge)
Click to Enlarge Name: MTTTM_Aggressive.png Size: 37 KB

Process of building up buffer profit and then waiting for an ideal setup to unload an aggressive higher lot entry or more slack in the SL.
Yet the idea is not too scalp rather to read the PA and get out of the trade if it appears to be losing favored traction.

Most traders want the easy way out, push a button to go short or long and not apply much thinking.
It might work for awhile but when it stops working they have no idea why.
Then its off to the next system much like a system hopping junky.

Masterrmind..............
Master your Mind then Master your Trades
  • #913
  • Sep 11, 2018 8:56am Sep 11, 2018 8:56am
Quoting OAPDave
I have noticed how quick you are in and out of the trade when scalping, This is my version, we know our MM levels so will not show them, but here is my 8 pip risk reward set up {image} {image} {image} {image} {image}
I cannot afford to be in the trade too long when current lot sizings are a minimum 0.1 lot to 1 lot on a 1K account.
I read PA and more times than not I get it right on an exit, but ofcourse miss some rather longer trades that would have hit say a 20 pip or more TP.

But this does not concern me, also the higher relative commission outlay also doesn't bother me since the net gain on the account over the month was quite respectable at 25%+.

The focus for every trade though is to let it run until I can lock in at BE + a few pips and then let it attempt to run through the target level.
Unfortunately not too many of these trades hit the target because I am very swift to close them out if I suspect a reversal against me.
Smaller stops also have the issue of being quickly whipsawed out of a trade.

You might wonder why a trader does not simply continue to trade like this in an attempt to get double digit returns month on month.
The answer is that ofcourse they can if this type of trading suits them.

As for your charts they are really great for scalping but I'd zoom in to see the bars so that PA is much clearer.

By all means feel free to post an entry and you never know we might share the same trade.

Masterrmind..............
Master your Mind then Master your Trades
  • #914
  • Sep 11, 2018 9:11am Sep 11, 2018 9:11am
Quoting OAPDave
It just seems logical to me, look for the 1st bar in and around European open that as a big 1 min range (8 or 13 pips) ask yourself why, then just go with it as they after expand the range, I only play the 1st one of the day, I stick to the 3 majors shown with a 8pip range
Thats an interesting approach.

So many ways to trade the market.

I'm looking for a suitable entry now across any one of the majors but its fast approaching rest time for me so time is about to run out.

Lets see.

Masterrmind.............
Master your Mind then Master your Trades
  • #915
  • Sep 11, 2018 9:29am Sep 11, 2018 9:29am
Quoting OAPDave
{quote} Same Idea but Bigger Risk {image}
All the best with it if you take it.

I'm off to sleep.

Take care,

Masterrmind..............
Master your Mind then Master your Trades
  • #916
  • Sep 12, 2018 3:29am Sep 12, 2018 3:29am
Quoting OAPDave
Closed and Banked @ 2 x Risk {image} {image}
Nice work.

Masterrmind..............
Master your Mind then Master your Trades
  • #917
  • Sep 12, 2018 3:32am Sep 12, 2018 3:32am
Quoting OAPDave
Back ground Charts, I will delete these posts once you have commented as no one else is interested {image} {image}
Where are you headed on these 2 pairs...UP I would gather.

I'm also looking for trading opportunities on the majors so lets see if anything looks good.

I'll at least post the pair and the direction even if the chart comes much later, all depends on how long it lasts.

Be warned though I may end it fast if necessary.

Masterrmind.............
Master your Mind then Master your Trades
  • #918
  • Sep 12, 2018 3:33am Sep 12, 2018 3:33am
Quoting OAPDave
Back ground Charts, I will delete these posts once you have commented as no one else is interested {image} {image}
I am interested.......
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #919
  • Sep 12, 2018 3:43am Sep 12, 2018 3:43am
GBPUSD [M5]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 63 KB

Price has now pulled back to the DO line so the market could take it in any direction.

ADR projections above and below the DO line.
Red dashed lines are calculated average session trading ranges from TO Open to TO Close (LO + 2 hours).

Waiting for a clue.

I'm also most interested and in any case plenty of lurkers around and perhaps in time there might be some happy participants.

Lets see.

Masterrmind...............
Master your Mind then Master your Trades
  • #920
  • Sep 12, 2018 3:59am Sep 12, 2018 3:59am
Quoting Masterrmind
GBPUSD [M5] {image} Price has now pulled back to the DO line so the market could take it in any direction. ADR projections above and below the DO line. Red dashed lines are calculated average session trading ranges from TO Open to TO Close (LO + 2 hours). Waiting for a clue. I'm also most interested and in any case plenty of lurkers around and perhaps in time there might be some happy participants. Lets see. Masterrmind...............
GU [M5]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 53 KB

Blue box is an ideal zone for looking to go long.

But its about 25 pips below current price and that's giving up too many pips waiting for an entry.

Option might be to drop the lot size slightly and attempt a short.

Then hit a long entry IF price comes into the zone.

Note the 1.30 handle in confluence with the 78.6 - 88.6 Fibs and the strong bullish push at this level earlier today, I like this type of setup.

Also looking at several other pairs so I might trade any pair at any time.

ps. If price continues up the chart from current level then its a matter of re-assessing for a suitable entry.

pps. Consider enough information but do not over-complicate the setup, afterall I'm in and out fast on these type trades.

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