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Day Trading vs. Swing Trading vs. Position Trading 86 replies

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Clemmo's Trading Odyssey

  • #221
  • Feb 27, 2022 4:14am Feb 27, 2022 4:14am
Another response,

"Crypto (including stable coins like USDC, USDT, BUSD), Payoneer, WorldRemit. -- i have used all of those multiple times."

It seem's like crypto is the way to go. Also Upwork has a 3wks delay before I receive the paid money
  • #222
  • Edited 11:05pm Feb 27, 2022 10:54pm | Edited 11:05pm
Quoting Kefada
Another response, "Crypto (including stable coins like USDC, USDT, BUSD), Payoneer, WorldRemit. -- i have used all of those multiple times." It seem's like crypto is the way to go. Also Upwork has a 3wks delay before I receive the paid money
I don't have much crypto or know how to use it, really. However I'm willing to try as long as you're willing to be paid in something so volatile? How will you spend it/convert it? Anyway, dealers choice.
  • #223
  • Feb 27, 2022 11:00pm Feb 27, 2022 11:00pm
Just an addendum to my 'risky exotics' trading adventures. As soon as the news of the Ukrainian invasion came out I sold the RUB (actually 1.5 hrs after trading started). I got in at the peak, and then it retreated, as these things do. Just as the trade seemed it would go into profit, trading was halted by my broker. The swap charges though, were not! I protested, and soon after trading began, gapped down to where you see it. It seems I got out just as trading was frozen again.
So - trading crisis currencies during an active crisis - not recommended!

It's ok though, as I made it up on my oil trades.

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  • #224
  • Feb 28, 2022 1:03am Feb 28, 2022 1:03am
Paypal is my preferred method. It has always been instantaneous and I wonder why it could be different for you.
The second option would be a SWIFT transfer from your bank account to the contractor's bank account. Not instant like Paypal but reliable.


I have once or twice used Eastpesa to withdraw funds from Neteller to Mpesa. If everything else fails, you can check it.

Quoting clemmo17
I'm working with a very skilled coder to build an EA (@kefada here on Forex Factory) but they are in Kenya and I'm having a devil of a time sending money to him. PayPal takes too long to process, Wise doesn't work with my bank in Canada, and Western Union basically took the money and are holding it hostage, without much explanation. If anyone has done something clever to pay contractors overseas I'd love to hear about it.
  • #225
  • Feb 28, 2022 1:31am Feb 28, 2022 1:31am
Quoting clemmo17
{quote} I don't have much crypto or know how to use it, really. However I'm willing to try as long as you're willing to be paid in something so volatile? How will you spend it/convert it? Anyway, dealers choice.
Peer to Peeer transactions are huge here, I'll be able to find nice deals to convert it
  • #226
  • Feb 28, 2022 1:34am Feb 28, 2022 1:34am
Quoting Mcken
Paypal is my preferred method. It has always been instantaneous and I wonder why it could be different for you. The second option would be a SWIFT transfer from your bank account to the contractor's bank account. Not instant like Paypal but reliable. I have once or twice used Eastpesa to withdraw funds from Neteller to Mpesa. If everything else fails, you can check it. {quote}
I received the money instantly on Paypal but they place it on a 21 day hold.
He tried a wire transfer to KCB and it got declined.
We tried neteller's "cousin" Skrill but they won't let him deposit.
  • #227
  • Feb 28, 2022 1:54am Feb 28, 2022 1:54am
In that case, I think it could be good to establish the cause of the wire transfer decline from your bank.
If resolved, then the bank transfers would work well for you without waiting a whole 21 days.

Could you have an account with I&M? I have used them and the transactions are always smooth.


Quoting Kefada
{quote} I received the money instantly on Paypal but they place it on a 21 day hold. He tried a wire transfer to KCB and it got declined. We tried neteller's "cousin" Skrill but they won't let him deposit.
  • #228
  • Feb 28, 2022 2:23am Feb 28, 2022 2:23am
Quoting Mcken
In that case, I think it could be good to establish the cause of the wire transfer decline from your bank. If resolved, then the bank transfers would work well for you without waiting a whole 21 days. Could you have an account with I&M? I have used them and the transactions are always smooth. {quote}
I think I'll do crypto, kinda annoyed with middlemen(Banks,Paypal,Western Union etc)
Can I PM you, I din't think I would meet any other Kenyan here
  • #229
  • Feb 28, 2022 2:37am Feb 28, 2022 2:37am
You are welcome to PM, anytime, mate.

Quoting Kefada
{quote} I think I'll do crypto, kinda annoyed with middlemen(Banks,Paypal,Western Union etc) Can I PM you, I din't think I would meet any other Kenyan here
  • #230
  • Feb 28, 2022 9:04am Feb 28, 2022 9:04am
Quoting clemmo17
Just an addendum to my 'risky exotics' trading adventures. As soon as the news of the Ukrainian invasion came out I sold the RUB (actually 1.5 hrs after trading started). I got in at the peak, and then it retreated, as these things do. Just as the trade seemed it would go into profit, trading was halted by my broker. The swap charges though, were not! I protested, and soon after trading began, gapped down to where you see it. It seems I got out just as trading was frozen again. So - trading crisis currencies during an active crisis - not recommended!...
Then today. I would have doubled if I’d been a little braver. You don’t have to be crazy to trade forex but it helps.
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  • #231
  • Feb 28, 2022 5:52pm Feb 28, 2022 5:52pm
Now Russia has increased (doubled!) its interest rate to nearly 20%!
https://www.msn.com/en-us/news/world...ons/ar-AAUqjPb

What swap rates does my broker offer at the time of writing?
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Criminal!

So there is no possibility of making a risky carry trade either. This just further confirms my suspicion that a global-macro style of trading on retail forex platforms is not very feasible, unless the risk is US/European.
  • #232
  • Mar 11, 2022 12:04am Mar 11, 2022 12:04am
Over at the finance book club I just finished reading a book that convincingly argued that the basis for the USA's imperial economic dominance is the sum of all the benefits it receives from its status as the global reserve currency holder.

The very same day I read this on Twitter:
https://twitter.com/michaelxpettis/s...55693088198656
and I just had to find out how a sagacious fellow like this econ professor could have such a wildly divergent view!?

Well, now aren't I glad that I read a book about it and have at least the most primitive foundation for expressing my skepticism about this article?
https://foreignpolicy.com/2011/09/07...bitant-burden/

And hey, if you read the finance book club thread you'll know at least as much as I do about it too. And then you too can be a modestly informed jerk on Twitter!
  • #233
  • Mar 11, 2022 3:29am Mar 11, 2022 3:29am
There is a lot more to this issue than I realized.

https://en.wikipedia.org/wiki/Triffin_dilemma
  • #234
  • Mar 11, 2022 7:20am Mar 11, 2022 7:20am
Quoting clemmo17
I'm working with a very skilled coder to build an EA (@kefada here on Forex Factory) but they are in Kenya and I'm having a devil of a time sending money to him. PayPal takes too long to process, Wise doesn't work with my bank in Canada, and Western Union basically took the money and are holding it hostage, without much explanation. If anyone has done something clever to pay contractors overseas I'd love to hear about it.
Payoneer: Pay & Get Paid Worldwide
Practice makes a person perfect
  • #235
  • Mar 17, 2022 3:45am Mar 17, 2022 3:45am
I've started testing (from about Feb 21) my current crop of robots on an industrial scale using a VPS and I might need to get another one. I now realize that developing a profitable trading system is really only the first step, even though it's hard to see much past that when you're starting out. Testing things properly is an entirely different set of skills, and it can be just as time-consuming.

I'm not sure if there's any interest but I could turn some of these into a Trade Explorer and put it up on my profile, unfortunately I think FF only lets you do about 4 or 5 at a time.

The first (actually second) bunch is testing a few different robots with different settings and timeframes in different combinations. I have just been using account numbers to keep them straight but as the numbers grow I realize now that I will probably have to give them code names.

Let's name this bunch after the Pleiades and then I'll need to add 2 more. Done.
All EURUSD tests.

Maia - M5 - (inner path only - extrematron-inv&uninv - 0.1)
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notes: nice curve but floating p/l is concerning. Needs a governor.

Electra - M5 (inner & outer) - extrematron -inv&uninv - turnTable governor)
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notes: turntable on M5 is a poor governor?

Taygete - M5 inner, H1 outer - all extrematron - inv&uninv - extrematron governor, )
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notes: inv H1 was turned off as it seemed to be a nuisance, and maybe that explains recovery; p/l within tolerance so far)

Alcyone - (M1 extrematron inner, H4 extrematron outer)
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notes: great curve but p/l unacceptable; H4 is too much space for this account size?)

Celaeno - (all M1 turnTables) inners- inv&uninv; outer governor distance is 5x inner)
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notes: best p/l so far; is it too forced? broker complaining of too many messages)

Sterope - TwinHearts M5 (inv&uninv inners; manual governor)
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notes: seems suitable for a small account, inv twin inner road more robust than a single?)

Merope - Heartbeat, no endzone/slzone, manual governor)
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notes: shaky at first, now seem to be feeding on vol?)
  • #236
  • Mar 17, 2022 4:23am Mar 17, 2022 4:23am
Here's the first batch, started out as 9 but two were removed from consideration.

These are each different robots testing a single setting set.
All H1 EURUSD.

Carmichael - extrematron
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notes: luck and overtrading?

Harris - genesis
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notes: ooh lala; RIP Victor

Jackson - heartbeat
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notes: the quest for the best set for this could be the work of a lifetime.

Johnston - justice
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notes: unsure how to interpret this; needs big moves; pf eyewatering

Lismer - micromacro
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notes: almost surely some luck; BUT this is a reversion system and EU has been trending hard?!
needs a governor, most times; feeds on vol, pf double eyewatering; more research needed

Macdonald - microphone
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notes: compare to micromacro - this is showing high DD related to a trend; also needs a governor

Varley - turntable
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notes: old faithful
  • #237
  • Mar 18, 2022 7:41am Mar 18, 2022 7:41am
The very next day Carmichael did shoot itself in the foot. So I might be getting better at recognizing lucky vs. promising?

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  • #238
  • Mar 18, 2022 1:20pm Mar 18, 2022 1:20pm
Quoting clemmo17
Here's the first batch, started out as 9 but two were removed from consideration. These are each different robots testing a single setting set. All H1 EURUSD. Carmichael - extrematron {image} notes: luck and overtrading? Harris - genesis {image} notes: ooh lala; RIP Victor Jackson - heartbeat {image} notes: the quest for the best set for this could be the work of a lifetime. Johnston - justice {image} notes: unsure how to interpret this; needs big moves; pf eyewatering Lismer - micromacro {image} notes: almost surely some luck; BUT this is a reversion...
I am glad to see heartbeat is doing okay.I am just wondering how you figure out the settings for it.
  • #239
  • Mar 25, 2022 3:29pm Mar 25, 2022 3:29pm
Quoting Kefada
{quote} I am glad to see heartbeat is doing okay.I am just wondering how you figure out the settings for it.
There are so many combinations that it is nearly impossible to figure them out without having a mental model of what you want it to do. Catch me on Discord and I can give you some ideas. It really could take years to fully test what it can do.
  • #240
  • Mar 25, 2022 3:37pm Mar 25, 2022 3:37pm
Now this could be bad luck, but 2/16 is a pretty low win rate and look at those turns - very tight. It's practically like I was moving the market single-handedly.

This is why most retail traders give up. But the good news is if this broker hates me this much I can make money off it (in another account).

I just wish I knew how this is done. Is it AI? FX is not a democracy. Some are allowed to profit and others are simply adding flow to be traded against.
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