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  • #281
  • Jan 20, 2021 6:34pm Jan 20, 2021 6:34pm
Quoting soultrader
{quote} that's a good question - for me the trend is the daily, the 4 hr must match and be in trend also and same on the 1 hour. then i look for entry criteria on the 5 / 2 min at a stop hunt level. simples
What is your definition of trend. Example some people say if price is about 34 ma it is up trend. Some people have other definition of trend. What is your definition of trend in mtf.
another question how much pips you allow against you when you trade gbpusd.
what is your average trade holding period. ?
how many trade you open a day?
what is your max dd in a month?
do you do macro analysis?
MA provides the market's current direction and strength.
  • #282
  • Jan 21, 2021 5:40am Jan 21, 2021 5:40am
Quoting soultrader
Dunno if you guys have ever considered using trader sentiment in your trading. - i still use it as an indicator and attached is an article i wrote about it in 2019. Note that this is a little old now and I use it differetly that i did back then, but this may be useful to you {image}
Hi @Soultrader
In this document you are saying that your win rate is very low.
In some other post you said it's 80%. That's very high and nice to have.
If so, than you don't need any recovery hedging because with a good money management you are done and at the end of the year you are always in profit.
Yes some trades will end up in a loss but overall you will be in green.
  • #283
  • Jan 21, 2021 6:48am Jan 21, 2021 6:48am
Quoting Merka
{quote} Hi @Soultrader In this document you are saying that your win rate is very low. In some other post you said it's 80%. That's very high and nice to have. If so, than you don't need any recovery hedging because with a good money management you are done and at the end of the year you are always in profit. Yes some trades will end up in a loss but overall you will be in green.
like i said before, that's an old document. i was swing trading back then
https://linktr.ee/Soultrader
  • #284
  • Jan 21, 2021 6:52am Jan 21, 2021 6:52am
Quoting hasib
{quote} What is your definition of trend. Example some people say if price is about 34 ma it is up trend. Some people have other definition of trend. What is your definition of trend in mtf. another question how much pips you allow against you when you trade gbpusd. what is your average trade holding period. ? how many trade you open a day? what is your max dd in a month? do you do macro analysis?
my definition of a trend on any timeframe is where is price in relation to the 34wma + which way are the candles going

most of your questions - the answer is 'how long is a piece of string'

and i do one analasys, a visual one and the same on every pair
https://linktr.ee/Soultrader
  • #285
  • Jan 21, 2021 1:01pm Jan 21, 2021 1:01pm
Quoting soultrader
{quote} my definition of a trend on any timeframe is where is price in relation to the 34wma + which way are the candles going most of your questions - the answer is 'how long is a piece of string' and i do one analasys, a visual one and the same on every pair
Today I am busy reading your book, I have completed 45 pages.
I am enjoying it. Thanks for the book.

I have questions, I know I am asking too many questions
- Do you believe in profitable trading one TF is possible.
- Do you think people can improve their trading just trading one pair.
MA provides the market's current direction and strength.
  • #286
  • Jan 26, 2021 2:55am Jan 26, 2021 2:55am
Enjoying the thread - thanks. I was directed here as I have a bad history with hedging and someone mentioned your thread. Always willing to learn. I know it wasn't hedging that cost me in the past but lack of any clue what to do once I'd hedged - scarred me for a while (still a bit scarred tbh ).

Love the story of your troubles after having a break at Christmas - I was reading it saying "Yup - been there". It's amazing how quite often you make a minor but possibly important tweak....just before a holiday then struggle to recreate it afterwards. I have to write real dummy instructions for myself now with picture examples otherwise I can be scratching my head. Maybe just age.

Anyway - question for you. How do you determine lot sizing? If you were trading with a SL (for me anyway) it would be x% risk based on that SL. Do you do the same but use the point failure/hedge position as the equivalent to the SL? Do you work on a MAX lot size and split it to factor possible future hedging/averaging and increase in lot sizes (similar to Joseph Nemeth)?
  • #287
  • Jan 26, 2021 10:40am Jan 26, 2021 10:40am
Quoting spotdespot
Enjoying the thread - thanks. I was directed here ....
Hi bud, tough question to answer because of how i load the account - I only have 10% of my allocation in the account - so the account allocation is 50k and i have just 5k in the account representing a 10% risk. if that money gets lost than that's it , if not then i take money out every month.

as far as risk per trade is concerned i dont care, this 1% and 2% bollocks is for strategies that you have no confidence in. i'm always willing to risk up to that 10% in the account. when im right i buy more and dont cut profits. i ont do it like nemeth but it was his vids that first got me thinking. i trade like im a billionaire and dont care. (i'm not by the way lol)

I always start with about 10:1 of the trade account on a £ per pip basis. so with 5 grand in the account i'll try to size at a fiver a pip to start, then hedge the same then double etc.

I do understad what you mean about 'what to do now' when hedged, i had that for a good while. you need a signal that tells you the trend has turned then you hedge and hold it till you get another sign that it's turned again. at first you think you are wating your time - you are flat right? so why not close, well what i tend to do is take the turn as a hedge and then if it keeps going i look for a pullback to increase. then close at the end and often doube the original trade to bring the line closer.

ave to say this is much easier on ctrader because you can add to the original trade without an extra line on the chart - it's the same line no matter how many times you add. on MT4 i would have like 5 entries on the chart and had to have a line on to calculate where the break even was and all that shit - this is why i like ctrader
https://linktr.ee/Soultrader
  • #288
  • Jan 26, 2021 10:50am Jan 26, 2021 10:50am
Thanks - yep - and understand what you are saying about cTrader. I have a "price average" type line on MT4 that works ok but I can understand it would be simpler.

I think I need to do some experimenting with hedging to get more comfortable. It is only when going through this thread that I realised the most money I ever made in forex was with no SL. Actually I had a very wide emergency one but was never hit and we know they are pretty much useless in a CHF unpegging scenario anyway. I managed to lose all my gains after f'ing up a hedge situation - that may have set me back around 5 years as I can now see I abandoned the strategy for the wrong reasons.....
  • #289
  • Jan 27, 2021 5:59am Jan 27, 2021 5:59am
Hi Soul
Thanks for starting this thread. I tried hedging a while back and didn't get on with it, but you've started a new vigor in me! I like the way you use it in your trading, and I'm going to practise this going forward. Nice to see someone in the UK who understands how things work, thank-you for opening my eyes . BTW you can get rid of the trade entry lines in MT4 by going to Options, Tools and Chart and unticking "Show Trade Levels"

Best wishes
  • #290
  • Jan 27, 2021 12:19pm Jan 27, 2021 12:19pm
I folks..in the end there are just two horizontal line..no matter how many pips far from each other..just two!right? Yes or not?yes!(till the most little bid and ask).
The first it' s your entry
The second if something went wrong houston your entry plus your recovery.
So at this point the situation become very intetesting..the space between the two line it's the dead zone were all two open position are in loss.let'suppose that the price go trough your original positio for semplicity we imagine was buy..what to do?there is enough gamma or not..or it's choppy moment?we don't know.this is the amletic problem..all it's resume in if there is gamma or not and if not just stay in box/flat i means with the same number of lots both direction till increase the ecposition when the price to show us the direction were it whant to go.and later?work in progress...
  • #291
  • Jan 29, 2021 3:33pm Jan 29, 2021 3:33pm
Sorry i've not been around this week, luckily very few questions - you must be getting bored with me

Was watcing all the fun on wallstreetbets chat this week - bunch of nutcases if you ask me. they clearly havent heard of hedging or understood what a hedge fund does. what do you think the hedge fund that is short is doing right now (and has been all day?) join them and buy to 400, sell off, buy to 400 sell off, buy to 400, sell off. and all these idiots keep buying. whilst the fundies are selling to them and creaming the range - they have probably made enough today to clear the short anyway.

This week was a difficult week to trade really, only made 500 quid on the forex account and a little more than that on the metals account. mainly off silver it has to be said. by the way, my advice is you need some real physical gold in your hands for when we come out of the pandemic. The money in folks wallets will begin to flow and then comes the inflation - gold and silver are the only things that will save you when that happens.

Hope you all have a good weekend
https://linktr.ee/Soultrader
  • #292
  • Feb 6, 2021 12:28pm Feb 6, 2021 12:28pm
Had a busy few weks here - am now automating my strat ready for the next stage which is reaching to heaven

i have to say writing the programming brief even for a simple strategy is so bloody time consuming. you have to write each stage down step by step but then also have to go through each stage in real time to make sure you dont miss anything.

for example, who thinks of actual slippage on a trade for a bot to calculate? - bot can work out what your profit should be when it closes the trade but what did it actually make? things like that matter.

But the brief is now written and open for bids from software companies the do this kind of thing.

bring it on soon as please!
https://linktr.ee/Soultrader
  • #293
  • Feb 6, 2021 1:18pm Feb 6, 2021 1:18pm
Quoting soultrader
Had a busy few weks here - am now automating my strat ready for the next stage which is reaching to heaven i have to say writing the programming brief even for a simple strategy is so bloody time consuming. you have to write each stage down step by step but then also have to go through each stage in real time to make sure you dont miss anything. for example, who thinks of actual slippage on a trade for a bot to calculate? - bot can work out what your profit should be when it closes the trade but what did it actually make? things like that...
The more detail you include, the more confused they get and the more they want to charge you.
Then if anything goes wrong, they blame it on your complex description.

I had a guy who wrote to me in much much greater detail on how things wouldn't work and what problems would be encountered if he followed my description of the events than my original text detailing the strategy. Then, I sent the same text to another programmer and he did it without any complains or objections. lol
  • #294
  • Feb 6, 2021 2:09pm Feb 6, 2021 2:09pm
Quoting soultrader
Just been thinking about this and what i would actually do different. I trade one pair at a time now. one of the biggest mistakes that i made which i think held me back and stunted my growth was trading multiple pairs at the same time. it's all great when things are going right but when they go wrong everything goes wrong and sets you back by miles. and for what? for greed - i thought i was making more when in fact all i did was increase the risk significantly. Grail was one trade at a time and did very well until the market changed. right now i...
This what i try to tell people that do awerage in ore out with multiple possisions if you have two pairs in DD at the same time your margin goes in half ore the DD doubbles and more likely your cutoff is hit that you also need in place not to loose more than can be recovered in a coupple of weeks....I am in the verification period on a 100k account with FTMO and when i started the challenge i used 1 lot and my cutoff was 4% and it got hit so in 11 days with half the lotsize 0.50 i went from -3.7% to 10% profit in 11 days and now in my verification period that is twice the time and half the target(5k in 60 days)I trade "only"0.4 lots as first possision and only ONE TRADE AT THE TIME BOTH BECAUSE OF MARGIN AND DD,BUT ALSO TO FOCUS ON ONE TASK IN HAND INSTEAD OFF SEVERAL...
Insanityoing same ting over expecting different results..Einstein
  • #295
  • Feb 7, 2021 9:32am Feb 7, 2021 9:32am
Quoting FXsniper111
{quote} This what i try to tell people that do awerage in ore out with multiple possisions if you have two pairs in DD at the same time your margin goes in half ore the DD doubbles and more likely your cutoff is hit that you also need in place not to loose more than can be recovered in a coupple of weeks....I am in the verification period on a 100k account with FTMO and when i started the challenge i used 1 lot and my cutoff was 4% and it got hit so in 11 days with half the lotsize 0.50 i went from -3.7% to 10% profit in 11 days and now in my verification...
one trade at a time is a good thing to do without a doubt.

regards margin then you need high leverage if you are doing multiple positions although a hedge at the same amount does not affect margin at all. you would think that the margin went down to zero but it just stays the same.
https://linktr.ee/Soultrader
  • #296
  • Feb 7, 2021 9:35am Feb 7, 2021 9:35am
Quoting OutThere
{quote} The more detail you include, the more confused they get and the more they want to charge you. Then if anything goes wrong, they blame it on your complex description. I had a guy who wrote to me in much much greater detail on how things wouldn't work and what problems would be encountered if he followed my description of the events than my original text detailing the strategy. Then, I sent the same text to another programmer and he did it without any complains or objections. lol
That's very true - i had an issue last year with a bot made by the guys at clickalgo - charging silly money and never even checked if the fixes work half the time - then moaned that it wasnt enough money. guy named Donald was a real pain in the arse.

I find that a simple flowchart says a lot. i do a full flowchart with loops identified and a step by step description of the system. then i sit and watch as I trade it and check if there are any things i should add. these things go into each step and overall things go in the programmers notes at the end. at this point i go back and simplify it.
https://linktr.ee/Soultrader
  • #297
  • Feb 9, 2021 11:14am Feb 9, 2021 11:14am
Quoting soultrader
Had a busy few weks here - am now automating my strat ready for the next stage which is reaching to heaven i have to say writing the programming brief even for a simple strategy is so bloody time consuming. you have to write each stage down step by step but then also have to go through each stage in real time to make sure you dont miss anything. for example, who thinks of actual slippage on a trade for a bot to calculate? - bot can work out what your profit should be when it closes the trade but what did it actually make? things like that...
Are you looking for a coder? I have coded several EAs ~60.

Can I help you with that?
  • #298
  • Feb 15, 2021 7:43am Feb 15, 2021 7:43am
Quoting TheZenienss
{quote} Are you looking for a coder? I have coded several EAs ~60. Can I help you with that?

Sorry buddy - ctrader here not mt4

coder has been comissioned - expected delivery of first draft today

ps, once you have used ctrader you just dont go back to mt
https://linktr.ee/Soultrader
  • #299
  • Feb 26, 2021 5:30am Feb 26, 2021 5:30am
Good info Soultrader, thanks for sharing
  • #300
  • Feb 26, 2021 3:46pm Feb 26, 2021 3:46pm
you're welcome. my bot is finally something like complete - few small bugs to iron out. using it today i did 60% on the account lol
https://linktr.ee/Soultrader
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