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FXTradepro "LUCKY 7" Journal

  • #81
  • May 8, 2008 6:25pm May 8, 2008 6:25pm
Quoting tdion
drumroll

tally, please?
Let's see what tonight/tomorrow brings first.....and then the tally !
  • #82
  • May 9, 2008 3:48am May 9, 2008 3:48am
DATE: Friday, May 9, 2008

Time of Signal: Friday, May 9, 2008 - 1:23 AM EST

Currency Pair: EURUSD

Initial Entry: BUY @ 1.5414

EA Entry Option: Price Entry

TP & SL Settings: TP=50 SL=10

Lot Sequence using Standard Lots: 7 Entries
0.5 - 0.6 - 2.25 - 2.7 - 3.24 - 3.89 - 4.67



Trade RESULTS:

Initial Entry opened on Friday, May 9, 2008 @ 1:23 AM EST

Sequence Of Trades at 1st Entry on
Friday, May 9, 2008 @ 3:24 AM EST

.50 Standard Lots for Final Entry

Net Profit: $250.00
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 5-9-2008.jpg Size: 51 KB
  • #83
  • May 9, 2008 6:07am May 9, 2008 6:07am
A "Progression Scalp" today -
I was up very early this morning.


DATE: Friday, May 9, 2008

Time of Signal: Friday, May 9, 2008 - 4:02 AM EST

Currency Pair: USDCHF

Initial Entry: SELL @ 1.0435

EA Entry Option: Price Entry

TP & SL Settings: TP=50 SL=10

Lot Sequence using Standard Lots: 7 Entries
0.5 - 0.6 - 2.25 - 2.7 - 3.24 - 3.89 - 4.67



Trade RESULTS:

Initial Entry opened on Friday, May 9, 2008 @ 4:02 AM EST

Sequence Of Trades Closed EARLY for 20 Pips at 3rd Entry on
Friday, May 9, 2008 @ 6:35 AM EST

2.25 Standard Lots for Final Entry

Net Profit: $326.06
Attached Image
  • #84
  • May 9, 2008 6:08am May 9, 2008 6:08am
Have a GREAT WEEKEND !

 Winning Sequences: 10
5 Full Sequences
5 Progression Scalps

Losing Sequences: 1
1 Full Sequence (Loss at 7th Entry)

 TOTAL Profit for the Week: $1,886.55

3 Week TOTAL: $9,927.28
  • #85
  • May 9, 2008 6:34am May 9, 2008 6:34am
what is your trigger to start a sequence ?

Quoting FXTradepro
Hello Traders.......

Please feel free to Post your questions and comments in this Thread. I look forward to hearing from anyone who has an interest in "Progression Sequence Trading".

Kind regards,

Dan
Inflation in things we need, Deflation in things we want.
  • #86
  • May 9, 2008 9:04am May 9, 2008 9:04am
Hi Dan,

Congrats for the week results, two questions:

What is the difference between the sequence of trades and Progession Scalp?

What is your trigger to indicate you should end a trade early as the last one you did?

Have a nice weekend
  • #87
  • May 9, 2008 9:09am May 9, 2008 9:09am
Quoting Dan S
Thank you for the answers.
I did not mean to be harsh yesterday. Please accept my appologize if it came over like that. Especially Phil

Thx again for sharing!
No worries. I didn't realize you were following the thread, thought you just popped in and didn't see that he had the progression laid out.
  • #88
  • May 9, 2008 9:29am May 9, 2008 9:29am
Quoting ghcmartins
Hi Dan,

Congrats for the week results, two questions:

1) What is the difference between the sequence of trades and Progession Scalp?

2) What is your trigger to indicate you should end a trade early as the last one you did?

Have a nice weekend
Thanks ghcmartins........I will try and answer your questions as follows:

1) The FULL Sequence is my standard "LUCKY 7" trade, which I take prior to the UK Session and let run - Win or Lose at the 7th Level. That is the basic Strategy. The "Progression Scalps" I take are intended to be quicker with smaller profits using the same Sequence but getting out of the trade (closing early) when profit is on the table. Normally, I trade the Scalps during the NY Session.

2) The Early exit was for a "Progression Scalp" - My UK Session Trade (Standard Sequence) had already closed. For the Scalps I generally target around 20 pips (sometimes only 10), but it is somewhat discretionary.

I hope this helps....
  • #89
  • May 9, 2008 9:33am May 9, 2008 9:33am
Quoting Thijs
what is your trigger to start a sequence ?

Welcome Thijs.........The Entry criteria is based upon Price Action (no indicators - just a 100 EMA for visualization) and generally speaking is a BreakOut set-up. Define a tight range and enter when volatility is expected to increase. Of course, there is more involved but that is the general idea.
  • #90
  • May 9, 2008 11:34am May 9, 2008 11:34am
Great job Dan! Are you trading on a live account?
  • #91
  • May 9, 2008 11:58am May 9, 2008 11:58am
Have you thought about setting it up Dan? Mine's here and it'll show more FXT EA trades from Monday. And thanks for your quick replies to my emails yesterday. The open trade shown is at Level 1 - my settings are somewhat different to yours as it's a micro account for this purpose.
Do not focus on making money; focus on protecting what you have.
  • #92
  • May 9, 2008 12:03pm May 9, 2008 12:03pm
Quoting lcfxtrader
Great job Dan! Are you trading on a live account?
Hello lcfxtrader............Of Course - I trade fulltime - LIVE !
  • #93
  • May 9, 2008 12:28pm May 9, 2008 12:28pm
Quoting Why Oh Why
Have you thought about setting it up Dan? Mine's here and it'll show more FXT EA trades from Monday. And thanks for your quick replies to my emails yesterday. The open trade shown is at Level 1 - my settings are somewhat different to yours as it's a micro account for this purpose.
You are welcome Why Oh Why...........I'll take a look at your suggestion.
  • #94
  • May 10, 2008 9:18am May 10, 2008 9:18am
Hi FXtradepro

first sorry for my bad english.

is this correct: you increase the second lot by 1.2, the third by 3.75 and then 1.2 again for the rest of the sequence.

is that the idea?

thanks in advance.
  • #95
  • Edited 10:08am May 10, 2008 9:47am | Edited 10:08am
Quoting giraia_br
Hi FXtradepro

first sorry for my bad english.

is this correct: you increase the second lot by 1.2, the third by 3.75 and then 1.2 again for the rest of the sequence.

is that the idea?

thanks in advance.
I do not think that this is correct. Basically, I decide how much I want to gain on a Sequence (in my case around $1000) and then I calculate as follows:

The first 2 levels would be 1/4 the size of that figure ($250 in my case) and then I work the math and calculate what Lot Sizing is needed to achieve that.

I use the FXTradepro LUCKY 7 Calculator that I developed to do these calculations.
  • #96
  • May 10, 2008 10:00am May 10, 2008 10:00am
I have posted my FXTradepro LUCKY 7 Calculator at the bottom of this post.
Attached File(s)
File Type: xls FXTradepro Lucky 7 Calculator.xls   78 KB | 734 downloads
  • #97
  • May 10, 2008 10:19am May 10, 2008 10:19am
Quoting giraia_br
Hi FXtradepro

first sorry for my bad english.

is this correct: you increase the second lot by 1.2, the third by 3.75 and then 1.2 again for the rest of the sequence.

is that the idea?

thanks in advance.
Actually, upon taking a second look at what you suggest, this seems to be more or less correct and you can use the Calculator to fine tune those figures.
  • #98
  • May 10, 2008 12:41pm May 10, 2008 12:41pm
wow you're a real guy (avatar)
  • #99
  • May 10, 2008 1:44pm May 10, 2008 1:44pm
Quoting tdion
wow you're a real guy (avatar)
And GOOD LOOKING Too ...... (LOL)
  • #100
  • May 12, 2008 8:39am May 12, 2008 8:39am
Quoting FXTradepro
I do not think that this is correct. Basically, I decide how much I want to gain on a Sequence (in my case around $1000) and then I calculate as follows:

The first 2 levels would be 1/4 the size of that figure ($250 in my case) and then I work the math and calculate what Lot Sizing is needed to achieve that.

I use the FXTradepro LUCKY 7 Calculator that I developed to do these calculations.

i don't understand exactaly how to use the spreadsheet. I was expecting that after put the first lot it would calculate the entire sequence. In this way you use my stupid defective brain can't understand. Can you give a example?

i use another spreadsheet posted here in FF (sorry, i don't remember who is the creator) and it is very good. It is to calculate position size in the "normal" way and calculate the pip value in real time, all you need is to active the DDE server in your Metatrader. I made only a few modifications for a quick reference of the entire sequence (using *1.2 for first lot, *3.75 for the second and again *1.2 for the rest) based in the initial lot. I like to know what will be the next % will be in case of using different stop and tp size.

i will post it here. Would be very nice if somenone make the changes to use it with the Lucky 7. Or at least you can use the Pip value formula in the Lucky 7 spreadsheet.

best regards.
Attached File(s)
File Type: xls Position sizing with dynamic PipValues and MT4 DDE .xls   19 KB | 602 downloads
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