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Simplicity is the Key

  • #2,561
  • Apr 18, 2008 9:53am Apr 18, 2008 9:53am
Quoting trader101
Thanks.. but i dont think im there yet.. Im just lucky...OK you got me ,, I actually re adjusted the SL and TP. But now i am more confident what it is. The SL is -300 pips and the TP is 100 for JPY crosses and others but normally 60 for EU, Uchf etc. All of this will be incorporated in the latest version of EA which i am going to post b4 trading next week. Do not worry about 300 SL. We would never hit. The program will detect if we are not in the trend would reverse before you reached that. I put it there as a protection to our account against fictitous spike that a broker will create. TP of 100 is just about for jpy crosses but dont be sad because as long as the trend is there the EA will open a trade again and the detection is quick, not like you have to wait for hours to reenter. I dont really a big fan of that moving BE as we get this.. get that.. It complicates the trading and programming of EA which programmers and coders like to do to display their knowledge of trading but is it necessary?? I dont think so if you are a trader. If you want out.. out you go. and keep your winnings. Dont leave the other foot inside the room. Hope i have explain it well.
Ok, Master T101 you have explained it to me well. I'm looking forward to the new version of the EA!

By the way I think I read somewhere (and now I can't find it) that you are using the ratio 1:100 for your trading. Is that correct?
  • #2,562
  • Apr 18, 2008 9:56am Apr 18, 2008 9:56am
OK regarding the EA.. These EA that i develop are based on the principle of "basket trading" that how they master traders call it. It is important that you trade all the currencies that is mentioned in the EA specs..if you are going to select the pair you like, that is not going to work because of hedging property of the EA. It is like each currency pair is adjusting to other cPair. If your equity is not so high then i suggest you reduce your lot, rather than just trading 2 or 3 pairs, you will definitely loss because the pair that should help that pair u are trading when it is in trouble is not being traded.
  • #2,563
  • Apr 18, 2008 9:57am Apr 18, 2008 9:57am
Quoting pipruler
Ok, Master T101 you have explained it to me well. I'm looking forward to the new version of the EA!

By the way I think I read somewhere (and now I can't find it) that you are using the ratio 1:100 for your trading. Is that correct?
Are you referring to the leverage??? No.. My broker leverage to me is 1:400 (special huh from ibfx) they normally ony give 1:200 but they give me 1:400.
  • #2,564
  • Apr 18, 2008 10:16am Apr 18, 2008 10:16am
Quoting trader101
Are you referring to the leverage??? No.. My broker leverage to me is 1:400 (special huh from ibfx) they normally ony give 1:200 but they give me 1:400.
Yes, I am referring to leverage and thanks for your reply.
  • #2,565
  • Apr 18, 2008 10:19am Apr 18, 2008 10:19am
Here are the trades I took last night that I have now closed out. 1054 pips in less than 24 hours is a new record for me. I had two down days the begining of the week and then got back to break even than yesterday I lost a little but todays profits have me positive for the week. Master Trader101 basket trading works.
Attached Image (click to enlarge)
Click to Enlarge Name: orders.JPG Size: 67 KB
  • #2,566
  • Apr 18, 2008 10:24am Apr 18, 2008 10:24am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
standing-by
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  • #2,567
  • Apr 18, 2008 10:25am Apr 18, 2008 10:25am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting imbiber
Here are the trades I took last night that I have now closed out. 1054 pips in less than 24 hours is a new record for me. I had two down days the begining of the week and then got back to break even than yesterday I lost a little but todays profits have me positive for the week. Master Trader101 basket trading works.
live or demo? is anyone running these live?
  • #2,568
  • Apr 18, 2008 10:30am Apr 18, 2008 10:30am
Quoting MPP
live or demo? is anyone running these live?
All of my trades are live with IBFX.
  • #2,569
  • Apr 18, 2008 10:30am Apr 18, 2008 10:30am
Quoting imbiber
Here are the trades I took last night that I have now closed out. 1054 pips in less than 24 hours is a new record for me. I had two down days the begining of the week and then got back to break even than yesterday I lost a little but todays profits have me positive for the week. Master Trader101 basket trading works.
That makes you a master.. imbiber.. If you can collect more than 1000 pips a week then that qualifies you to be a master. LOL.. Kidding aside I think we are just lucky this week..I am really happy that you guys are reaching new highs in your trading career. This is exploits that never come into my mind when i start trading. 1000 pips a week ...i thought i could never do it. We will continue sharing each other knowledge and hope for perfection.
  • #2,570
  • Apr 18, 2008 10:39am Apr 18, 2008 10:39am
Yeah I agree that this week might just have been an explosive week. Huge candles on gbp/jpy. Hope it continues though haha.
  • #2,571
  • Apr 18, 2008 10:53am Apr 18, 2008 10:53am
Congratulations to Trader101 and Imbiber for a great week of trading. I think CJ did pretty well too.

I hope someday to get 1000 pips a week as well. I see the potential, and have had some success, but at a much smaller scale (about 150-200 pips this week).

Unfortunately, a lot of action takes place during the times I'm either asleep or at work. I can't use the Metatrader platform at work because of the firewall we have. It's not like I can go to our IT people and tell them to give me access so I can trade during working hours.

I have to find a way to run MetaTrader through my browser, so I don't have to worry about the firewall.
  • #2,572
  • Apr 18, 2008 2:25pm Apr 18, 2008 2:25pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting MPP
Hi trader 101
so far i have only run the TDv2 and the results are great and consitant, i notice you now have a few EA's posted, which one are you more confident in?
also the long term trades how are you deciding them, i'm a little of peak here with all the changes going on so fast.

i will post the result at the end of the month. but i'm loving it.
i tried to publish the detail report, but need some advice on how please, just to let you know, my NF account is up by $2100 plus some other trades still in profit, first trade was taken tuesday last week. account was started with $3000 so thats like way more % than i can be bothered to count at this time (60% profit WHAT)
  • #2,573
  • Apr 18, 2008 2:31pm Apr 18, 2008 2:31pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting hansel
Congratulations to Trader101 and Imbiber for a great week of trading. I think CJ did pretty well too.

I hope someday to get 1000 pips a week as well. I see the potential, and have had some success, but at a much smaller scale (about 150-200 pips this week).

Unfortunately, a lot of action takes place during the times I'm either asleep or at work. I can't use the Metatrader platform at work because of the firewall we have. It's not like I can go to our IT people and tell them to give me access so I can trade during working hours.

I have to find a way to run MetaTrader through my browser, so I don't have to worry about the firewall.
this won't help, as you need to run the EA and that is PC/laptop/palmtop etc based and not at the MT4 server end, try test the EA in a suitable TF ie through the night from when you get home, i'm only running it during london and NY times, just to see how that works, great so far.

if you visit the metatrader website they list all the options for running the program - it might be that some of the new 3G phones will run it, kep your trading in your pocket - sweet, gone fishing and getting paid.
  • #2,574
  • Apr 18, 2008 2:33pm Apr 18, 2008 2:33pm
Quoting MPP
i tried to publish the detail report, but need some advice on how please, just to let you know, my NF account is up by $2100 plus some other trades still in profit, first trade was taken tuesday last week. account was started with $3000 so thats like way more % than i can be bothered to count at this time (60% profit WHAT)
Are you serious????? You have gathered more than me???I dont believe this...WOW... There is a manage attachements at the bottom of the reply window click that then browse the file from you pc and then upload it. Presto you have the statement then clik the submit reply..
  • #2,575
  • Apr 18, 2008 2:37pm Apr 18, 2008 2:37pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Attached File(s)
File Type: doc MT4 report.doc   132 KB | 404 downloads


MetaQuotes Software Corp.

Summary:Deposit/Withdrawal:0.00Credit Facility:0.00 Closed Trade P/L:2 061.46Floating P/L:138.87Margin:544.51Balance:4 912.16Equity:5 051.03Free Margin:4 506.52


Gross Profit:3 681.14Gross Loss:1 619.68Total Net Profit:2 061.46Profit Factor:2.27Expected Payoff:79.29 Absolute Drawdown:0.00Maximal Drawdown:1 095.82 (22.95%)Relative Drawdown:22.95% (1 095.82) Total Trades:26Short Positions (won %):8 (37.50%)Long Positions (won %):18 (61.11%)Profit Trades (% of total):14 (53.85%)Loss trades (% of total):12 (46.15%)Largestprofit trade:983.00loss trade:-508.50Averageprofit trade:262.94loss trade:-134.97Maximumconsecutive wins ($):3 (266.24)consecutive losses ($):6 (-781.92)Maximalconsecutive profit (count):1 924.55 (2)consecutive loss (count):-781.92 (6)Averageconsecutive wins:2consecutive losses:2

the file type was not recognised, so i copied the details, will make it into a wrod doc, that will upload. just needed to get my head into gear
  • #2,576
  • Apr 18, 2008 2:41pm Apr 18, 2008 2:41pm
Oh now i know .. you have to zip it first then attached, .. yeah the html is not alllowed to upload... Jason-- delete that last post please.
  • #2,577
  • Apr 18, 2008 2:42pm Apr 18, 2008 2:42pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting trader101
Oh now i know .. you have to zip it first then attached, .. yeah the html is not alllowed to upload... Jason-- delete that last post please.
mine or yours, post number?
  • #2,578
  • Apr 18, 2008 2:46pm Apr 18, 2008 2:46pm
Yeah thats about right it should be around 55 - 60 % hit rate fdor this ea. the same figure when i was making the backtesting. But i notice you have some 0.5 lot trades in there taht is why you have more money collected but the i think the pip value is about the same.
  • #2,579
  • Apr 18, 2008 2:48pm Apr 18, 2008 2:48pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting trader101
Yeah thats about right it should be around 55 - 60 % hit rate fdor this ea. the same figure when i was making the backtesting. But i notice you have some 0.5 lot trades in there taht is why you have more money collected but the i think the pip value is about the same.
just looked at that, they were taken with the BB EA not the TDv2, kinda throws the results of as the first 4 or 5 trades were on this, will clean it up for the next report, promise.
  • #2,580
  • Apr 18, 2008 2:52pm Apr 18, 2008 2:52pm
There is one more thing that i notice in this EA is that it is not so stressfull trading it. At the beginning of the trade it is negative but just a few minutes it become positive. I really enjoy watching it do its trading. It only entered the trade that has a probability of being positive quickly about 80% of the time. And you dont see a lot of negative in your traded pairs. Are you guys, still trading????
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