DislikedNew trades placed while market at 1.5602...my long was hit within a minute at 1.5610...Here we go again.Ignored
Should your first long entry be 620? Maybe I am not understanding the multiples of 20 rule.
Final Results:
Pickep up 539 pips. Had I held from beginning until end I would have made about 700. SO I gave up 160, however, I feel it was the right way to trade with the news coming out, etc. I will re-enter shortly and post my re-entry later.
ISY,
WHat I was wondering was whether we have any statitics on which days of the week this actually works better. I dont know that Wednesday would be best, even if largest move. In fact, maybe Wednesday is the worst due to sucha large move??
Hi Isydeb !
Regarding Money Management you're referring to the Unit concept
of Oanda.
How would you define the max. tolerable risk per trade by using MT4 ?
Let's assume my trading capital is 10.000 US$.
I open simultaneously 5 long and 5 short trades.
My max. Risk per trade would be 3% of my account.
These are 300 US$ => 30 US$ / trade (max. 10 positions)
How do I handle now my trading risk without stop loss ?
Greetings and happy pippin
Bernhard from Euroland
I sumed up total pips of each long and short order and realized the 80%-90% of profit is from long positions. if you simply long from the begining of 2007, the outcome will be essentially the same. Getting rid of 20 pips short alone would save 1500 pips. The only shorts that made money are 80 and 100 pips orders. I think a simpler version of this system is long after 20 pips up and short after 80 pips down for 2007 and 2008 maybe. Just set 2 orders each day. What do you think?
I personally don't like to wait for reversals and what you are suggesting is a straddle, which as I mentioned before, is very profitable. We do not know when the trend will reverse and by following my method we really couldn't care less. So that's basically why I came up with this idea.
Thanks for the input.
Hi, interesting approach.
Let's think for a minute. What would the market have to do for this system to fail? A continuous streak of your "worst case scenarios"?
How likely is this to happen? As has been mentioned before a meandering sideways market might be a killer depending on how much human intervention was applied re exits etc.
Is an extended period of sideways motion that far outside the bell-curve? I'm thinking of Long Term Caital Management's probability of failure. They reckoned on seeing market moves like the one that crushed them every 100,000 years or something. I think it happened within about 5 years!!! (OK, fair enough, they were super over leveraged...).
I don't think the losing streak would have to be particularly long.
Not being a pessimist, just using a system development tool to make this better
Go Euro Go!!!
Let's think for a minute. What would the market have to do for this system to fail? A continuous streak of your "worst case scenarios"?
How likely is this to happen? As has been mentioned before a meandering sideways market might be a killer depending on how much human intervention was applied re exits etc.
Is an extended period of sideways motion that far outside the bell-curve? I'm thinking of Long Term Caital Management's probability of failure. They reckoned on seeing market moves like the one that crushed them every 100,000 years or something. I think it happened within about 5 years!!! (OK, fair enough, they were super over leveraged...).
I don't think the losing streak would have to be particularly long.
Not being a pessimist, just using a system development tool to make this better
Go Euro Go!!!
Hi, interesting approach.
Let's think for a minute. What would the market have to do for this system to fail? A continuous streak of your "worst case scenarios"?
How likely is this to happen? As has been mentioned before a meandering sideways market might be a killer depending on how much human intervention was applied re exits etc.
Is an extended period of sideways motion that far outside the bell-curve? I'm thinking of Long Term Caital Management's probability of failure. They reckoned on seeing market moves like the one that crushed them every 100,000 years or something. I think it happened within about 5 years!!! (OK, fair enough, they were super over leveraged...).
I don't think the losing streak would have to be particularly long.
Not being a pessimist, just using a system development tool to make this better
Go Euro Go!!!
Yes sir, right on the spot!!
As I mentioned in the previous post, adaptation is important. In the core version we are assuming to close positions with a loss on a daily basis, but as I mentioned in the 1st post, you shouldn't close them.
If your positions are both negative, this only means that the market hasn't moved enough for our winning side to outnumber the losing side.
As I mentioned in an earlier post, you take profit once or twice a week not daily.
But you are right on your assumption. Thanks!