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Simple Monday-Tuesday System (attached calculator)

  • #1,701
  • Mar 26, 2020 9:59am Mar 26, 2020 9:59am
Quoting pipchef
{quote} How old are you? Have you grown up? I asked a question to the EA developer, and the EA developer happily answered my question to me. It's none of your business. Does that make you angry? What a dirty mind inside you! Your language was like an uncivilized person. Please go away quietly and I will never reply to you again.
I'm not going anywhere, pal. Just read the thread, learn, and you won't have to ask obvious questions.
  • #1,702
  • Mar 26, 2020 1:51pm Mar 26, 2020 1:51pm
Why is it ALWAYS the case that as soon as a new trader or someone new to a thread asks a question that may be obvious to others get shot down? Some keyboard warrior with a Warren Buffett complex HAS to show superiority and denigrate that person? If you are able to help or let it go.... Easy. No wonder so may new traders lose their money
  • #1,703
  • Mar 26, 2020 1:55pm Mar 26, 2020 1:55pm
Quoting GreyTrader
{quote} Lol. We're on the same boat Sangui. The week I decided to execute after my analysis phase is the week the market suddenly becomes indecisive. But it's alright. It's a sequence of up weeks and down weeks, it just so happened we started on the down week. Proper money management should allow us to last through this. Also I trust my analysis. I'll keep doing this until June and reevaluate. Unfortunately it hasn't gone better later. I kept my trades and did not close. 5 pairs has hit SL, 1 BE. I don't...
Yeah, I know it was bad luck and it's just variance but well...It will help to make the system better. I'm thinking in having 3 orders, 1 with a very tight TP and when is hit move the others to BE, if the second TP is hit then move the 3rd SL to 1st TP. The best side of this is that if it goes bad then I can lose faster and go to sleep sooner
  • #1,704
  • Mar 26, 2020 2:22pm Mar 26, 2020 2:22pm
Quoting Fantuz
Why is it ALWAYS the case that as soon as a new trader or someone new to a thread asks a question that may be obvious to others get shot down? Some keyboard warrior with a Warren Buffett complex HAS to show superiority and denigrate that person? If you are able to help or let it go.... Easy. No wonder so may new traders lose their money
People don't take the time to read and ask others' time for already resolved issues.
  • #1,705
  • Mar 26, 2020 3:55pm Mar 26, 2020 3:55pm
Quoting GreyTrader
{quote}Unfortunately it hasn't gone better later. I kept my trades and did not close. 5 pairs has hit SL, 1 BE. I don't plan on re-entering on them this week. Just sticking to the plan. I still have 11 open trades and 26 Orders. so either no trade, 2R TP, 1R SL, BE, or closed at end of London Friday. USDCAD SELL seems to be the only trade doing well.
Same here, 5 stop loss to begin with, click on TE in signature to see current situation



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It takes a lot for me to IGNORE you, but you can try.
  • #1,706
  • Edited 4:54pm Mar 26, 2020 4:29pm | Edited 4:54pm
I was away for a good part of the day and the wallet then painfully displayed € 6 of latent gain but with euraud stopped at - € 27.47. I come back, I open the pc and ... + 92 € on the remaining peers! Wow, what a reversal!
eurgbp almost came to a halt near a pip. (55% stoploss)
Wisdom would say to cut everything now but being in the observation phase, I will leave the positions open until tomorrow evening.
And now we are only at + € 79.
With the exception of gbpjpy and cadjpy, all losing peers are jpy.
Now, only 61 € gain at 21 h 50 GMT
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  • #1,707
  • Mar 26, 2020 4:34pm Mar 26, 2020 4:34pm
Quoting bojack34
I am running GU, EU, UC, AU, NU, EA, EN. As of right now I have 6 open trades and i'm sitting at -0.93% in DD. I had GU already get stopped out using trail stop. I made +0.10% with GU. I'm using 1% risk per pair with a 15% entry, 50% SL and 1:1 TP. I'm moving SL to BE at 50% and trailing from there. I'm still working on the trail stop. I won't open trades after Thursday and I'll close all open trades a couple hours before market close on Friday.
Update......I still have 3 open trades. All in the GREEN. AU, NU, EU. Between the 3 open trades i'm at +1.10%. Closed trade for the week i'm at -.43%. I could close right now and just take my profit (see profit take profit)......but since it's a demo and i'm still forward testing, I'll leave them open until a couple hours before market close on Friday.
  • #1,708
  • Mar 26, 2020 5:21pm Mar 26, 2020 5:21pm
Quoting Fantuz
Why is it ALWAYS the case that as soon as a new trader or someone new to a thread asks a question that may be obvious to others get shot down? Some keyboard warrior with a Warren Buffett complex HAS to show superiority and denigrate that person? If you are able to help or let it go.... Easy. No wonder so may new traders lose their money
I just have a superior ability to read. Hahaha
  • #1,709
  • Mar 26, 2020 6:35pm Mar 26, 2020 6:35pm
Quoting Fantuz
Why is it ALWAYS the case that as soon as a new trader or someone new to a thread asks a question that may be obvious to others get shot down? Some keyboard warrior with a Warren Buffett complex HAS to show superiority and denigrate that person? If you are able to help or let it go.... Easy. No wonder so may new traders lose their money
Instead of being Warren Buffett, I suggest that kind of person should go to see a doctor because he is probably a split personality patient. Wow, please forgive me if that person is not. Hahaha.
  • #1,710
  • Edited 3:49am Mar 27, 2020 1:49am | Edited 3:49am
Quoting Sangui
{quote} Yeah, I know it was bad luck and it's just variance but well...It will help to make the system better. I'm thinking in having 3 orders, 1 with a very tight TP and when is hit move the others to BE, if the second TP is hit then move the 3rd SL to 1st TP. The best side of this is that if it goes bad then I can lose faster and go to sleep sooner
But then I guess you will only be trading a handful of pairs using this system then, because you'd effectively be managing 3x per pair. (which is a lot of work for me)


This actually got me thinking. One of the reasons I like this system is that there is a sort of built in diversification.
1st you have long and short pairs ready in case the market goes either way, 2nd you can trade a number of pairs and don't really have to worry about currency correlation (At least I don't, since I trade all 28 in both direction). 3rd, you have a high probability of good solid movement in one direction during Wed, Thur, and Fri. I think it was Erebus that pointed out that you can trade just about anything that moves with this system.

What I mean is, I look at it from a probability perspective across a "bucket" of trades, rather than relying on just a few good ones. Meaning of all these 20+ "strong" pairs I currently have opened, I am betting on the probability that at least 40% will hit TP. So for 20 pairs, 40% win-rate, assuming 2:1 Reward-to-Risk Ratio and $10 Risk. This is how it would look like:

WIN 20 * 40% * $10 * 2 = $160
LOSE 20 * 60% * $10 * 1 = $120

I would still be up by $40 even if 60% of my trades hit SL.
Not the most lucrative win, but If this holds true overtime, this can compound.


Anyway. status update as of 6:36AM GMT : 5SL, 1BE, 1TP (USDCAD)
EURUSD trade is about to reach 1R. I will move it to BE when it does.
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The quick brown fox jumps over the lazy dog.
  • #1,711
  • Mar 27, 2020 2:07am Mar 27, 2020 2:07am
Neutral week for me with default settings and PaulDV's EA
5 loss 8 wins
I'm going on to test next week with only 10 pairs
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  • #1,712
  • Mar 27, 2020 2:58am Mar 27, 2020 2:58am
Quoting GreyTrader
{quote} But then I guess you will only be trading a handful of pairs using this system then, because you'd effectively be managing 3x per pair. (which is a lot of work for me)
Ohh no, I don't plan to do this manually, I have almost everything coded.
  • #1,713
  • Mar 27, 2020 3:03am Mar 27, 2020 3:03am
Quoting GreyTrader
{quote} But then I guess you will only be trading a handful of pairs using this system then, because you'd effectively be managing 3x per pair. (which is a lot of work for me) This actually got me thinking. One of the reasons I like this system is that there is a sort of built in diversification. 1st you have long and short pairs ready in case the market goes either way, 2nd you can trade a number of pairs and don't really have to worry about currency correlation (At least I don't, since I trade all 28 in both direction). 3rd, you have a high probability...
you should take some time over the weekend (im assuming you have no where to go) and do some visual backtesting on a bunch of pairs. I did so for 12 pairs i think it was. I looked at every trade every week for all of them for the past year. I can tell you from my research that you will not get 40% of your trades to reach 2:1. I obviously could be wrong but I think your goal is a little bit too optimistic. I hope for your sake that i'm wrong. GL!
  • #1,714
  • Mar 27, 2020 3:23am Mar 27, 2020 3:23am
It's so rough in this week.
Stop loss from EA Gcad Acad brings about bad result in Thursday.

anyway, I got gain from EU GU Gchf Ucad Ujpy Uchf GJ.


So, little gain from this week = 9%
  • #1,715
  • Mar 27, 2020 3:44am Mar 27, 2020 3:44am
Quoting zoraxfx
Neutral week for me with default settings and PaulDV's EA 5 loss 8 wins I'm going on to test next week with only 10 pairs {image}
I wasn't paying too much attention to the EA conversation so not familiar with the parameters.

How did you reach TP on your US pairs? Are you not using 50% MT Range SL and at least High + 15% Entry?


Edit: Double checked the charts and my guess is there is a 50 or 100pip trailing SL in place. So stopped out on the retrace. Interesting.
The quick brown fox jumps over the lazy dog.
  • #1,716
  • Edited 5:03am Mar 27, 2020 4:24am | Edited 5:03am
Quoting zoraxfx
Neutral week for me with default settings and PaulDV's EA 5 loss 8 wins I'm going on to test next week with only 10 pairs {image}
What killed your profit was money management: i.e. you used the same position sizing for all pairs regardless of the stop size.

e.g. EURAUD had a stop loss of 431 pips (probably would have been better to skip that one), and assuming your account is around €250, that means that at a lot size of 0.04, you're risking 38% of your account, on just the one trade!

Whereas on USDCAD, the stop loss was only 145 pips, so the lot size of 0.04 equates to roughly 15% of your account...still big, but better than the EURAUD trade.

So, USDCAD hit TP resulting in €36.94 profit, whereas EURAUD hit SL, resulting in a massive €103.77 loss...a net result of -€67. If you'd set EURAUD to 0.01 to match the pip sizing for USDCAD, your net result would have been around zero across those two pairs.

If you had used the money management feature and set a risk size of 10% and the "Trade if less than minimum" to "false", the EA would have skipped the EURAUD trade, but entered the USDCAD trade at 0.02 pips, which would have resulted in roughly a €25 profit instead of a €67 loss.

The lesson being: money management is key. It's no good setting fixed lot sizes and then hoping for the best...you WILL lose over time.

If you're not going to use the money management feature in the EA, then you really ought to decide on a maximum amount you are willing to risk on each trade, and then calculate the appropriate position sizing yourself on Tuesday evening/Wednesday morning, and enter the fixed lot sizes into each EA. I recommend using the position sizing calculator at myfxbook: https://www.myfxbook.com/forex-calcu.../position-size

That said, it's difficult to do this on such a small account size - you really need to have a minimum of around $1000 in order to make good use of money management.
"Pips are vanity. Profit is sanity."
  • #1,717
  • Mar 27, 2020 5:56am Mar 27, 2020 5:56am
You are right PaulDV.
What settings do you suggest about MM ?
  • #1,718
  • Mar 27, 2020 6:01am Mar 27, 2020 6:01am
Basic setup 15%, 50% sl 100% TP Lots 0.01
All orders for 26 pairs closed prematurely, not sure why, for a total loss of -£26

That may not be to bad in the greater scheme of things. Last week was >+£180 ish.
  • #1,719
  • Mar 27, 2020 6:07am Mar 27, 2020 6:07am
Quoting zoraxfx
You are right PaulDV. What settings do you suggest about MM ?
I am using the defaults, which is 1% of account balance per trade. But for that, you need a larger account size - over $1000 preferably.

If you have a smaller account size, and are willing to take the risk, then simply increase the risk% based on your account size vs $1000 - e.g. for $250, use 4%, for $500 use 2%, etc.

You will miss out on some trades due to the stop loss being too large, but then that may not be a bad thing...
"Pips are vanity. Profit is sanity."
  • #1,720
  • Mar 27, 2020 6:11am Mar 27, 2020 6:11am
How do I share my Trade Explorer? I am up almost 11% however did make a couple of mistakes that played in my favour. Forgot to set SL's, Booked 1 pair twice and started too large and had to close them at a profit as I ran out of Capital
MWTF Return This Week: na
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