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FXTradepro: Strategy using a “Semi-Martingale” Position Sizing

  • #161
  • Aug 23, 2007 12:47pm Aug 23, 2007 12:47pm
Quoting tdion
Maybe it's better to enter after 10 bounces WOULD HAVE occured. You enter only after a reistance is exchausting over time....

Yes, I like that idea.
tdion....Not sure what you mean by this. Can you clarify?

Dan
  • #162
  • Aug 23, 2007 4:31pm Aug 23, 2007 4:31pm
Hi Dan

finally i can post due to technical problems. i follow your thread from the beginning and I must admitt I really like this style of trading.

I found couple simillar systems but with different TP on other forums. System 10/10 - SL 10 and TP 10 looks good. One of the cons is that you can afford only for 10 entries.

Your option with 40 pips TP looks even better. However on some pairs 40 pips may be to high. Lets take a look on eur/usd. You posted screenshot with eur/usd on one of your posts. As we can see ADR is 59 and IMO it's too small for our strategy. Pairs like gbp/usd usd/jpy seem to be ok, but we have to always check ADR.

What I like in this method is that you don't have to be precisly with your entry and you don't need indicators to trade succesfully. You still got 24 entries to hit your TP. Now I wonder if you enter the market randomly, I still think that you got the chance to profit before 24-th entry.

Before I read that you enter the market during special conditions (looking for support leveles etc.) my idea was simillar to what tidion wrote on post before.
We have to find the pair where price was in the range 10 pips and still didn't hit 40 pips TP. For this 10 pip range we set up buy order - top of the range and sell order- bottom of the range. Lets say that the price was in this range and hit buy and sell 10 times. The next hit we enter the market. So now for us it will be 1-st entry but looking at the chart it will really be 11-th entry. This way we can go 34 entries before price will hit TP (10 entries before we entered market and 24 of ours). This is a good way for those wo are affraid that 24 entries can be not enough.

Your idea with entering the market at important levels is very good, but I think you won't go further than 10 entires. In this method of MM: further you go-more money you can make.

Once again this is a great system and I'll be keeping eye on it
  • #163
  • Aug 23, 2007 4:42pm Aug 23, 2007 4:42pm
Quoting jones247
Hi BGazzoni,
How could you need only $6,500? Your 15th entry was 49 lots. Would you not need $12,250 at that point?

Thanks,
Walt
Hi Walt, as I said, it's a MINI-account and 200:1 leverage. So 1 lot you need $50 to open * 49 lots = $2450 than you add the drawdown and you get $6480.

Hope this answer your question.

Regards,

Bruno
No Brain, no Gain.
  • #164
  • Aug 23, 2007 4:51pm Aug 23, 2007 4:51pm
4 trades in 3 days
3 of them close on the 1 first sequence
1 on the third
Not very stressful for the moment .
I love this system.
Attached Image (click to enlarge)
Click to Enlarge Name: trades.jpg Size: 44 KB
  • #165
  • Aug 23, 2007 4:55pm Aug 23, 2007 4:55pm
Thanks, Bruno...
  • #166
  • Aug 23, 2007 4:56pm Aug 23, 2007 4:56pm
Quoting gambler997
4 trades in 3 days
3 of them close on the 1 first sequence
1 on the third
Not very stressful for the moment .
I love this system.
Gambler,

How did you determine your appropriate entry points?

thanks,
Walt
  • #167
  • Aug 23, 2007 7:07pm Aug 23, 2007 7:07pm
Hello DB07....Thanks for your comments. I agree with much of what you have said below. I added a few comments in RED below - also I just sent you an email:

Dan


Quoting DB07
Hi Dan

finally i can post due to technical problems. i follow your thread from the beginning and I must admitt I really like this style of trading.

I found couple simillar systems but with different TP on other forums. System 10/10 - SL 10 and TP 10 looks good. One of the cons is that you can afford only for 10 entries.

Your option with 40 pips TP looks even better. However on some pairs 40 pips may be to high. Lets take a look on eur/usd. You posted screenshot with eur/usd on one of your posts. As we can see ADR is 59 and IMO it's too small for our strategy. Pairs like gbp/usd usd/jpy seem to be ok, but we have to always check ADR. This is correct, I keep an eye on the ADR and trade accordingly.
What I like in this method is that you don't have to be precisly with your entry and you don't need indicators to trade succesfully. You still got 24 entries to hit your TP. Now I wonder if you enter the market randomly, I still think that you got the chance to profit before 24-th entry. Most of my Sequences close before the 10th Entry or much sooner.

Before I read that you enter the market during special conditions (looking for support leveles etc.) my idea was simillar to what tidion wrote on post before. We have to find the pair where price was in the range 10 pips and still didn't hit 40 pips TP. For this 10 pip range we set up buy order - top of the range and sell order- bottom of the range. Lets say that the price was in this range and hit buy and sell 10 times. The next hit we enter the market. So now for us it will be 1-st entry but looking at the chart it will really be 11-th entry. This way we can go 34 entries before price will hit TP (10 entries before we entered market and 24 of ours). This is a good way for those wo are affraid that 24 entries can be not enough. Some variation of this could work. The question is how do we know when the BO will occur. Maybe it will occur before the 10th buy/sell area is hit.

Your idea with entering the market at important levels is very good, but I think you won't go further than 10 entires. In this method of MM: further you go-more money you can make. Also, true, but still I try to keep the Sequence to as low a number of entries as I can.
Once again this is a great system and I'll be keeping eye on it
  • #168
  • Aug 23, 2007 7:24pm Aug 23, 2007 7:24pm
Quoting jones247
Gambler,

How did you determine your appropriate entry points?

thanks,
Walt

I set Time entry option for Eur/usd to 7:44 (interbank time)
check statement

And for usd/Jpy I use break out ,trend line, fibo
for the moment I only trade this two pair.I'm looking eur/jpy also (spread 4) But for this one I will modify tp and sl .
  • #169
  • Aug 23, 2007 8:11pm Aug 23, 2007 8:11pm
Suppose you are not in the market.

The price is bouncing back and forth within the range. After it bounces 10 times without hitting the Take Profit, you enter because you feel a breakout is nearing. The person that entered 10 bounces ago is in drawdown, while you have a fresh 24 (is that right?) bounces ahead of you.

So in reality, the price would have to bounce a total of 34 times for a margin call, which is highly unlikely.

In the said strategy, you are monitoring all pairs that have failed to hit take profits in their 10 first chances.

Quoting tdion
Maybe it's better to enter after 10 bounces WOULD HAVE occured. You enter only after a reistance is exchausting over time....

Yes, I like that idea.
  • #170
  • Aug 23, 2007 8:22pm Aug 23, 2007 8:22pm
Quoting tdion
Suppose you are not in the market.

The price is bouncing back and forth within the range. After it bounces 10 times without hitting the Take Profit, you enter because you feel a breakout is nearing. The person that entered 10 bounces ago is in drawdown, while you have a fresh 24 (is that right?) bounces ahead of you.

So in reality, the price would have to bounce a total of 34 times for a margin call, which is highly unlikely.

In the said strategy, you are monitoring all pairs that have failed to hit take profits in their 10 first chances.

I get the idea......Sounds like a pretty good idea except that you may have trouble finding many entries. I do look for a set-up that is something like this. I believe that there are many options in regard to good entries.

Dan
  • #171
  • Aug 24, 2007 9:15am Aug 24, 2007 9:15am
Hello Everyone.....The EA has been downloaded many, many times according to the stats here at FFactory yet only a few people have Posted any comments.

Please join in if you have been Lurking here. All are welcome.

I will not be around this weekend to comment, but I'll be back on Monday.

Have a great weekend.

Dan
  • #172
  • Aug 24, 2007 9:49am Aug 24, 2007 9:49am
Hi,

I have just download the EA.

Some questions??

1) If we used this on a live account, does that means we need to get the EA from Fxtrader each time it expires??

2) Is is advisable to run on many pairs of currency?? I know the account must have enough margin to run.
  • #173
  • Aug 24, 2007 10:24am Aug 24, 2007 10:24am
Thanks for sharing your idea and EA. Would it be possible to have a copy of the EA that does not expire? I personal would like to test it for a while and if all goes well then trade live starting with micro lots.
  • #174
  • Aug 24, 2007 11:08am Aug 24, 2007 11:08am
i agree..not very interesting to spend time testing an expert that has an expiration date....


Quoting lcfxtrader
Thanks for sharing your idea and EA. Would it be possible to have a copy of the EA that does not expire? I personal would like to test it for a while and if all goes well then trade live starting with micro lots.
  • #175
  • Edited 1:16pm Aug 24, 2007 12:55pm | Edited 1:16pm
Guys, I think what he is expressing here is the concept. He has laid that out completely.. If you really want an EA, write one. this is really a simple concept and very easy to code.

I do not blame FXtraderpro for not wanting his EA bootlegged...

He actually was quite generous in giving out the entire method in a very well laid out format. It is a little disingenuous to say otherwise of him... but then, some are still looking for the something for nothing pot of gold...
  • #176
  • Aug 24, 2007 1:14pm Aug 24, 2007 1:14pm
hi,

thanks for the system bro..... try on demo... using microlots today.... profitable

i will demo it for nxweeks... ... i`m using barry support n resistance indi for entry
  • #177
  • Edited 9:39am Aug 25, 2007 7:08am | Edited 9:39am
so this system can be used on most currency pairs.........

any rule regarding entry ? or just enter buy/sell randomly ?

so after hitting TP, do i start all over again or just i profitable trade a day ?
  • #178
  • Aug 25, 2007 10:07am Aug 25, 2007 10:07am
FXTRADEPRO, i think whatever u depend on for ur entry are totally "blind", there are no indicators can guarantee the entry. whatever the "indicators" been told are what the price told the indicators. i.e., u trade 365 times per day, and u still don't know which of them will terminate u (max 24 entrys), or let's say within 5 years. so why u r not trying to entry a new trade after ur win one by one? it gives u more opporunities to win and still remains the same risk. one lose will be make up by these # of trades. or r u willing to take another 1 year let's say to make up ur lost? think about it.
  • #179
  • Aug 25, 2007 11:57am Aug 25, 2007 11:57am
I was able to get to a Computer today for a few minutes so I will try and answer some of the last few questions from yesterday. I'll be back again on Monday. My answers are in RED below:

Dan


Quoting ryujin
Hi,

I have just download the EA.

Some questions??

1) If we used this on a live account, does that means we need to get the EA from Fxtrader each time it expires?? The EA will be available here as long as there is continued interest in this thread. I will post a new 30 day version on the first of every month.

2) Is is advisable to run on many pairs of currency?? I know the account must have enough margin to run. I MONITOR seven Pairs but generally only take 1 or 2 Trades a day when I see a set-up that I like. If I don't like what I see on my Charts, I don't Trade. You could run on many Pairs assuming that you have enough margin to cover.

Quoting lcfxtrader
Thanks for sharing your idea and EA. Would it be possible to have a copy of the EA that does not expire? I personal would like to test it for a while and if all goes well then trade live starting with micro lots. See above or get in touch with me Privately.

Quoting findcount
so this system can be used on most currency pairs......... YES, but for the TP & SL Settings I use I prefer spreads of 5 or LESS (less is better).
any rule regarding entry ? or just enter buy/sell randomly ? I have mentioned previously that I do NOT enter randomly. The idea here is to find a set-up where you believe that you can stay out of a tightly ranging market in order to ATTEMPT to limit the number of times your SL will be hit. I like using Support and Resistance on a 30 minute time frame in conjunction with some "common sense" analysis. I trade carefully.

so after hitting TP, do i start all over again or just i profitable trade a day ? See above - Trade when you are most likely to be profitable.

Quoting feeder2000
FXTRADEPRO, i think whatever u depend on for ur entry are totally "blind", there are no indicators can guarantee the entry. I am not looking to indicators to guarantee my entries. I am trying to place the odds in my favor when looking for a set-up. The question is, when and where can I enter the market where the trade is more likely to go 40 pips in my selected direction or 50 pips in the opposite direction BEFORE my SL gets hit 24 times.

whatever the "indicators" been told are what the price told the indicators. i.e., u trade 365 times per day, and u still don't know which of them will terminate u (max 24 entrys), or let's say within 5 years. so why u r not trying to entry a new trade after ur win one by one? Again, because I am attempting to place the odds in my favor. Random entry cannot do that. Random may win most of the time, but it will also lose much more often, in my opinion.

Scott.....Thank you for your kind words and understanding.

Bye all

Dan
  • #180
  • Aug 25, 2007 9:31pm Aug 25, 2007 9:31pm
Hi, i used the ea for usd/jpy pair. i used the price entry option . I set a sell order at a certain price and select false for initial order long in your ea. the ea come out with the message ready for the next tick. But after the next tick is in place, it come out with the message, price is out of range and the order is disabled. Any idea what have went wrong? My timeframe is 15mins.

Thanks
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