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FXTradepro "LUCKY 7" Journal

  • #101
  • May 12, 2008 8:45am May 12, 2008 8:45am
Quoting giraia_br
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 author) 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.
You need to "play" with the Lot Sizing yourself. This way, you can try different settings to see how these things effect the Sequence. You will see that there are different things you can try and that you can work out your own Sequence perhaps finding something that you like better than mine.

Alternately, if you tell me what size Account you are working with and how much you are willing to risk if you lose a Sequence then I will work out the Calculations for you.
  • #102
  • May 12, 2008 9:00am May 12, 2008 9:00am
DATE: Sunday, May 11, 2008

Time of Signal: Sunday, May 11, 2008 - 9:52 PM EST

Currency Pair: GBPUSD

Initial Entry: BUY @ 1.9511

EA Entry Option: Immediate 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 Sunday, May 11, 2008 @ 9:52 AM EST

Sequence Of Trades Closed at 2nd Entry on Monday, May 12, 2008 @ 2:00 AM EST

.60 Standard Lots for Final Entry

Net Profit: $250.00
Attached Image
  • #103
  • May 12, 2008 11:03am May 12, 2008 11:03am
A "Lucky 7" Progression Scalp -


DATE: Monday, May 12, 2008

Time of Signal: Monday, May 12, 2008 - 10:24 AM EST

Currency Pair: GBPUSD

Initial Entry: SELL @ 1.9600

EA Entry Option: Immediate 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 Monday, May 12, 2008 @ 10:24 AM EST

Sequence Of Trades Closed EARLY for 20 Pips at 2nd Entry on
Monday, May 12, 2008 @ 11:11 AM EST

.60 Standard Lots for Final Entry

Net Profit: $70.00
Attached Image
  • #104
  • May 12, 2008 1:17pm May 12, 2008 1:17pm
Feeling a little adventurous today I took a second "Lucky 7" Progression Scalp -


DATE: Monday, May 12, 2008

Time of Signal: Monday, May 12, 2008 - 11:18 AM EST

Currency Pair: USDJPY

Initial Entry: SELL @ 103.58

EA Entry Option: Immediate 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 Monday, May 12, 2008 @ 11:18 AM EST

Sequence Of Trades Closed EARLY for 20 Pips at 4th Entry on
Monday, May 12, 2008 @ 12:12 PM EST

2.70 Standard Lots for Final Entry

Net Profit: $196.70
Attached Image
  • #105
  • May 13, 2008 1:07am May 13, 2008 1:07am
...completed.
Do not focus on making money; focus on protecting what you have.
  • #106
  • May 13, 2008 1:18am May 13, 2008 1:18am
Quoting Why Oh Why
...completed.
Thank You !
  • #107
  • May 13, 2008 8:59am May 13, 2008 8:59am
Last Night's Sequence went deep but did hit the Target at the 7th Level.......


DATE: Tuesday, May 13, 2008

Time of Signal: Tuesday, May 13, 2008 - 12:46 AM EST

Currency Pair: EURUSD

Initial Entry: SELL @ 1.5522

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 Tuesday, May 13, 2008 @ 12:46 AM EST

Sequence Of Trades Closed at 7th Entry on
Tuesay, May 13, 2008 @ 4:50 AM EST

4.67 Standard Lots for Final Entry

Net Profit: $1017.00
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 5-13-2008.jpg Size: 66 KB
  • #108
  • May 13, 2008 10:38am May 13, 2008 10:38am
Today's "Lucky 7" Progression Scalp -


DATE: Tuesday, May 13, 2008

Time of Signal: Tuesday, May 13, 2008 - 10:39 AM EST

Currency Pair: USDJPY

Initial Entry: SELL @ 104.62

EA Entry Option: Immediate 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 Tuesday, May 13, 2008 @ 10:39 AM EST

Sequence Of Trades Closed EARLY for 20 Pips at 1st Entry on
Tuesday, May 13, 2008 @ 10:54 AM EST

.50 Standard Lots for Final Entry

Net Profit: $95.77
Attached Image
  • #109
  • May 13, 2008 10:47am May 13, 2008 10:47am
ANOTHER "Lucky 7" Progression Scalp Today -


DATE: Tuesday, May 13, 2008

Time of Signal: Tuesday, May 13, 2008 - 11:17 AM EST

Currency Pair: EURUSD

Initial Entry: SELL @ 1.5475

EA Entry Option: Immediate 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 Tuesday, May 13, 2008 @ 11:17 AM EST

Sequence Of Trades Closed EARLY for 20 Pips at 2nd Entry on
Tuesday, May 13, 2008 @ 11:33 AM EST

.60 Standard Lots for Final Entry

Net Profit: $70.00
Attached Image
  • #110
  • May 13, 2008 1:17pm May 13, 2008 1:17pm
Dan, thanks for the answers. But i still confuse. I will wait more trades by you then i can learn how to use the spreadsheet. Why don't you use compound? Would be easy to understand if you did that.

if you can give some examples how you choose the progressions and use the spreadsheet i will be thankful. If you don't have time for it now i will wait in the future.

one question about leverage. I think higher leverage was important in the 24 level progression, because you was planning to go to the worst case cenario. But in this 7 progresson method, you are choosen to cut the risk early, so it will be necessary only if you are starting risk a big amount of the account. I am wrong?


thanks for all help and sharing. And sorry again for my bad english.

@Tdion

i am curious with what you are doing with this method.
  • #111
  • May 13, 2008 2:03pm May 13, 2008 2:03pm
Hello again giraia_br.....I will try to address your comments below in RED.

Quoting giraia_br
Dan, thanks for the answers. But i still confuse. I will wait more trades by you then i can learn how to use the spreadsheet. Why don't you use compound? Would be easy to understand if you did that.
I am sorry that you do not understand how to use the Calculator. It really is fairly simple to use. Perhaps you can email me and I can walk you through what to do with that. Regarding compounding - That is an option and Traders can certainly use compounding if they wish. I trade for a Living and so I need to make regular withdrawals from my Account, so I don't compound.
if you can give some examples how you choose the progressions and use the spreadsheet i will be thankful. If you don't have time for it now i will wait in the future. I have been posting my charts as a basic example of my entries, however, it would be difficult to explain everything I look for in starting a Sequence in a few posts at this Forum. I do provide One-on-One Training for this Strategy....you would need to contact me privately to discuss that.
one question about leverage. I think higher leverage was important in the 24 level progression, because you was planning to go to the worst case cenario. But in this 7 progresson method, you are choosen to cut the risk early, so it will be necessary only if you are starting risk a big amount of the account. I am wrong? Your are CORRECT !


thanks for all help and sharing. And sorry again for my bad english.
You are Welcome and I hope I have answered your questions clearly.
  • #112
  • May 13, 2008 6:57pm May 13, 2008 6:57pm
Thanks for the answers Dan.
  • #113
  • May 14, 2008 8:00am May 14, 2008 8:00am
DATE: Wednesday, May 14, 2008

Time of Signal: Wednesday, May 14, 2008 - 1:06 AM EST

Currency Pair: EURUSD

Initial Entry: SELL @ 1.5452

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 Wednesday, May 14, 2008 @ 1:06 AM EST

Sequence Of Trades Closed at 3rd Entry on
Wednesday, May 14, 2008 @ 4:39 AM EST

2.25 Standard Lots for Final Entry

Net Profit: $1015.00
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 5-14-2008.jpg Size: 55 KB
  • #114
  • May 14, 2008 11:34am May 14, 2008 11:34am
Today's "Lucky 7" Progression Scalp -


DATE: Wednesday, May 14, 2008

Time of Signal: Wednesday, May 14, 2008 - 9:43 AM EST

Currency Pair: EURUSD

Initial Entry: BUY @ 1.5450

EA Entry Option: Immediate 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 Wednesday, May 14, 2008 @ 9:43 AM EST

Sequence Of Trades Closed EARLY for 10 Pips at 3rd Entry on
Wednesday, May 14, 2008 @ 10:30 AM EST

2.25 Standard Lots for Final Entry

Net Profit: $115.00
Attached Image
  • #115
  • May 15, 2008 7:29am May 15, 2008 7:29am
DATE: Thursday, May 15, 2008

Time of Signal: Wednesday, May 14, 2008 - 11:15 PM EST

Currency Pair: EURUSD

Initial Entry: SELL @ 1.5459

EA Entry Option: Immediate 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 Wednesday, May 14, 2008 @ 11:15 PM EST

Sequence Of Trades Closed at 2nd Entry on
Thursday, May 15, 2008 @ 2:11 AM EST

.60 Standard Lots for Final Entry

Net Profit: $250.00
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 5-15-2008.jpg Size: 50 KB
  • #116
  • May 15, 2008 8:24am May 15, 2008 8:24am
Hi Dan, I was wondering if you'd be kind enough to comment on my post here.
Do not focus on making money; focus on protecting what you have.
  • #117
  • May 15, 2008 11:57am May 15, 2008 11:57am
Thursday's "Lucky 7" Progression Scalp -


DATE: Thursday, May 15, 2008

Time of Signal: Thursday, May 15, 2008 - 10:59 AM EST

Currency Pair: EURUSD

Initial Entry: BUY @ 1.5479

EA Entry Option: Immediate 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 Thursday, May 15, 2008 @ 10:59 AM EST

Sequence Of Trades Closed EARLY for 20 Pips at 1st Entry on
Thursday, May 15, 2008 @ 11:50 AM EST

.50 Standard Lots for Final Entry

Net Profit: $100.00
Attached Image
  • #118
  • May 15, 2008 12:01pm May 15, 2008 12:01pm
Dan,

I am about at the point to hand you my money to trade. Keep it up!

-Lcfx
  • #119
  • May 15, 2008 12:17pm May 15, 2008 12:17pm
Quoting lcfxtrader
Dan,

I am about at the point to hand you my money to trade. Keep it up!

-Lcfx

Thanks for the kind words...Should I tell you where to send the check (LOL...Just Kidding)?
  • #120
  • May 16, 2008 9:17am May 16, 2008 9:17am
Last Night I had an unusual situation - I set the EA to Trade based upon a PRICE ENTRY and then I FELL ASLEEP.
Normally, I would stay awake until the Initial Entry was triggered, but I fell asleep by accident watching TV.
The result was that the Price Entry was not triggered last night when I expected and opened many hours later at 6:17 AM
this morning. At that time the signal was NO LONGER VALID but I was stuck in the trade.
When I woke up this morning the Sequence was on the 3rd Level and not moving well.
I was able to close this EARLY at the 5th Level with a small profit. Had I been awake last night (as I should have been),
I would have cancelled the original Price Entry setting and looked for another opportunity to enter.


DATE: Friday, May 16, 2008

Time of Signal: Thursday, May 15, 2008 - 11:30 PM EST

Currency Pair: EURUSD

Initial Entry: BUY @ 1.5462

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 16, 2008 @ 6:17 AM EST

Sequence Of Trades Closed EARLY for 20 Pips at 5th Entry on
Friday, May 16, 2008 @ 9:22 AM EST

3.24 Standard Lots for Final Entry

Net Profit: $43.00

NOTE: This Sequence would have later hit the 50 Pip Target
BUT I was uncomfortable since the Trade did not Originally open
as I had planned
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 5-16-2008.jpg Size: 111 KB
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