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  • Linked: WhyLose.com | Brokerage Account XXXXX41
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  • #421
  • Jan 23, 2007 12:51am Jan 23, 2007 12:51am
Quoting Why Oh Why
How long will it take to blow my $500?

I've now had 18 consecutive profitable trades. Why? No stop loss and no fear of loss I guess.

I want to now see the longest string of profitable trades I can achieve. I'll drop by here two or three times a week when I've got something to say. Nobody will learn anything from me - I don't now much - but I'm sure most visitors here will note that trading forex should never be done this way. And perhaps that will be a good lesson for all.

It's a live account funded with $500. I will now try and post my account statement. Hopefully it will appear below.
Well, the account faced a margin call but because of 81 consecutive profitable trades the account never blew up. A respectable growth also IMO.

The thread ended up in the Top 20 most viewed in less than a month so thanks to everyone who dropped by.

I'll think up another silly goal soon. Any ideas? I really don't mind losing the money. Have a great day everyone.
Do not focus on making money; focus on protecting what you have.
  • #422
  • Jan 27, 2007 7:26am Jan 27, 2007 7:26am
Quoting Why Oh Why
Well, the account faced a margin call but because of 81 consecutive profitable trades the account never blew up. A respectable growth also IMO.
The thread ended up in the Top 20 most viewed in less than a month so thanks to everyone who dropped by.

I'll think up another silly goal soon. Any ideas? I really don't mind losing the money. Have a great day everyone.
Ive got a silly idea for you. How about reversing your strategy. Never put Take profit but put tight SL instead. and keep adding positions as you fall deeper in profit. then you only liquidate all the positions when you reached a certain huge profit, like a margin call but reverse, call it profit call. I can make an EA for you that would close all orders when certain total profit is met.

regards,
Mikhail
  • #423
  • Jan 30, 2007 1:49am Jan 30, 2007 1:49am
I'm up for it. And I'll broadcast what it does live here. If the new version of Bag-it springs in to life then I'll just create another stream which I'll post in this thread. The Profit Call EA coming to a screen near you soon. Thanks for the input Mik - launch date?
Do not focus on making money; focus on protecting what you have.
  • #424
  • Feb 1, 2007 2:50am Feb 1, 2007 2:50am
Hello There,

Attached below is the Profit Call EA, it will monitor all currency symbols in the account and will close everything when profit target is reached. This is the most simple EA I've ever created, It should work but havnt tried it yet so give it a run.

Just change profit target to whatever value you want, If you are able to beat this EA too easily then Ill make another one which will require you to double the equity before everything is liquidated.

Cant wait to see how you trade with this EA.

Regards,
Mikhail

Quoting Why Oh Why
I'm up for it. And I'll broadcast what it does live here. If the new version of Bag-it springs in to life then I'll just create another stream which I'll post in this thread. The Profit Call EA coming to a screen near you soon. Thanks for the input Mik - launch date?
Attached File(s)
File Type: mq4 Profit Call EA.mq4   4 KB | 406 downloads
  • #425
  • Feb 1, 2007 3:30am Feb 1, 2007 3:30am
Will this close all trades on the account? For example if I ran it on the same account as Bag-it would it also close those trades and override Bag-it if a Bag-it trade hit the Profit Call in the Profit Call EA. Or would it not be affected because you have to attach it to every chart that to'd want it to work on?

Thanks for your efforts. Either way it's not a problem as I'll just fund another play money account if necessary. I just need to know its impact or the Bag might get upset. It sleeps a lot and I don't want it to get grumpy.
Do not focus on making money; focus on protecting what you have.
  • #426
  • Feb 1, 2007 3:54am Feb 1, 2007 3:54am
Quoting Why Oh Why
Will this close all trades on the account? For example if I ran it on the same account as Bag-it would it also close those trades and override Bag-it if a Bag-it trade hit the Profit Call in the Profit Call EA. Or would it not be affected because you have to attach it to every chart that to'd want it to work on?

Thanks for your efforts. Either way it's not a problem as I'll just fund another play money account if necessary. I just need to know its impact or the Bag might get upset. It sleeps a lot and I don't want it to get grumpy.
Yup It closes everything in the account.

Regards,
Mikhail
  • #427
  • Feb 1, 2007 4:17am Feb 1, 2007 4:17am
I'll set it up on a separate account then. And thanks for your 2 emails. Give me a week and I'll run results here.
Do not focus on making money; focus on protecting what you have.
  • #428
  • Feb 1, 2007 8:35am Feb 1, 2007 8:35am
I've just tried it but when I launch the second it does nothing. I'm sure people do that but it's not working for me. The second terminal of the same app never launches. Any ideas? This thread is still going up the league table of views so I guess it's as gooder place to ask this as anywhere.
Do not focus on making money; focus on protecting what you have.
  • #429
  • Feb 1, 2007 10:34am Feb 1, 2007 10:34am
Why Oh Why,
I just read the post all the way thru. It looks Like you had a lot of fun with this. I personally enjoyed reading it. I think the thread got so many reads for the same reason there are traffic jams near accidents, everybody slows down to take a look at the wreck. I would like to reiterate the only stop loss use used was a margin call. This type of trading is highly popular with people who lost their money at REFCO. Why leave all your money in an account if you are getting no interest on it. Keep only the money you need to trade with in it. Money management is done between your funding account( hopefully a bank account that earns interest) and your Trading account. Another benfit is that a catastrophic news event can not wipe out all of your captial (by jumping stops and such).

Sorry to ramble, I really just wanted to say this was a highly enjoyable post. I look forward to more.
EllisEdi Moving on to my next trade ...
  • #430
  • Feb 1, 2007 1:40pm Feb 1, 2007 1:40pm
Quoting EllisEdi
Why Oh Why,
I just read the post all the way thru. It looks Like you had a lot of fun with this. I personally enjoyed reading it. I think the thread got so many reads for the same reason there are traffic jams near accidents, everybody slows down to take a look at the wreck. I would like to reiterate the only stop loss use used was a margin call. This type of trading is highly popular with people who lost their money at REFCO. Why leave all your money in an account if you are getting no interest on it. Keep only the money you need to trade with in it. Money management is done between your funding account( hopefully a bank account that earns interest) and your Trading account. Another benfit is that a catastrophic news event can not wipe out all of your captial (by jumping stops and such).

Sorry to ramble, I really just wanted to say this was a highly enjoyable post. I look forward to more.
Wow... really great of you to write that. Thanks so much. I've made bold the part I want to invite comments on. Anyone agree with us? Or disagree? And in association with Mik I'll be launching a profit Call EA soon. Any idea also on the FXDD question above as well?
Do not focus on making money; focus on protecting what you have.
  • #431
  • Feb 2, 2007 12:55am Feb 2, 2007 12:55am
Quoting Why Oh Why
I've just tried it but when I launch the second it does nothing. I'm sure people do that but it's not working for me. The second terminal of the same app never launches. Any ideas? This thread is still going up the league table of views so I guess it's as gooder place to ask this as anywhere.
Any ideas anyone?
Do not focus on making money; focus on protecting what you have.
  • #432
  • Feb 2, 2007 12:57am Feb 2, 2007 12:57am
Can you run two FXDD platforms at the same time?
Do not focus on making money; focus on protecting what you have.
  • #433
  • Feb 2, 2007 1:52am Feb 2, 2007 1:52am
Quoting EllisEdi
Money management is done between your funding account( hopefully a bank account that earns interest) and your Trading account.
Why not? I remember this was suggested by one of the MM Gurus of this forum - Fijitrader? Diallist?
The only con I can see is that funding, even by a credit card, takes time (like 24 hrs in case of FXDD you used). One dollar may be needed to save your account from margin call - and it doesn't arrive on time...
sans peur et sans reproche
  • #434
  • Feb 2, 2007 3:57am Feb 2, 2007 3:57am
Quoting Why Oh Why
Can you run two FXDD platforms at the same time?
Im not sure how to do this, I use FXDD as well. Ive been fiddling around with it to see how to open two fxdd at the same time but just cant find how. I believe the best solution is to ask fxdd support.
  • #435
  • Feb 2, 2007 6:02am Feb 2, 2007 6:02am
My point is a second app simply won't start. I'll contact support. Perhaps I need to run it on another computer.
Do not focus on making money; focus on protecting what you have.
  • #436
  • Feb 2, 2007 7:46am Feb 2, 2007 7:46am
Quoting Why Oh Why
My point is a second app simply won't start. I'll contact support. Perhaps I need to run it on another computer.
Date: 13:02 2nd Feb 2007
From: "Alena Karpovich"
To: "Why Oh Why"
Subject: RE: 2 platforms for 51697

Dear John,

Unfortunately there is no way to run two accounts at the same time, you
will need to have 2nd computer.

Regards,
Alena Karpovich
Customer Support

A quick response! I don't have spare capacity at the moment but I'm getting another computer soon so watch this space.
Do not focus on making money; focus on protecting what you have.
  • #437
  • Feb 2, 2007 9:53am Feb 2, 2007 9:53am
Fujitsu AMILO Pi 1536 PC Notebook
Intel Centrino Core Duo T7200 Processor 2ghz
2GB RAM
120 GB Hard Drive
DVDRW Dual Layer Drive - To read DVDs and CDs and write CDs and DVD+, DVD- and DVD-Ram
15.4" Crystalview Widescreen TFT Screen
ATI Mobility Radeon X1400 PCI-E 512 MB HyperMemory graphics
Integrated wireless 802.11 a/b/g LAN
Integrated 4 -in-1 card reader – reads Memory Stick, Memory Stick Pro, MultiMediaCard, SD Memory Card

Does Core Duo mean dual core? It's not some confusing marketing ploy to make you believe that, is it? I'm the high bidder now and it ends in a day.
Do not focus on making money; focus on protecting what you have.
  • #438
  • Feb 2, 2007 2:54pm Feb 2, 2007 2:54pm
Quote
Does Core Duo mean dual core?
Exactly. Two CPUs in the same chip.

My br0ker is Interbank FX and I can run multiple instances of MT 3.83 at the same time (I've tried at least five). MT4 has no such ability. Does FXDD allow to use MetaTrader 3 platform?
Ben
  • #439
  • Feb 2, 2007 3:26pm Feb 2, 2007 3:26pm
Quoting ilanr
Why not? I remember this was suggested by one of the MM Gurus of this forum - Fijitrader? Diallist?
The only con I can see is that funding, even by a credit card, takes time (like 24 hrs in case of FXDD you used). One dollar may be needed to save your account from margin call - and it doesn't arrive on time...

With this style you are using a margin call as a Stop loss. So if you wanted to add that $1 dollar that would save you from a margin call that would be like moving your stop loss to allow for more Loss. That is a big no no.

Using this style while trading multiple instruments can be a nightmare. It is simplest when trading in one instrument only.

If you wanted to use stop loss orders you should still keep your main capital separate from your immediate trading capital so that it is safe from an open position that could drain your account when your stops are jumped during "extreme volatility". Your main capital should also be in an interest bearing account of some sort, doing a little extra work for you at no risk.

You could implement this strategy by having a weekly (or some other time period) trading allowance, that you would transfer into a trading account to use for that time period. What amount would be decided by your Money Mangement system and the total risk you are willing to expose yourself to. Then when your time period has ended you extract your profits (hopefully) or add more capital to bring your balance to your new trading risk level.


Almost any variation of this plan will help the trader stick to Money Mangement rules as well as protect your Trading capital.

EllisEdi Moving on to my next trade ...
  • #440
  • Feb 2, 2007 10:04pm Feb 2, 2007 10:04pm
Quoting Why Oh Why
Fujitsu AMILO Pi 1536 PC Notebook
Intel Centrino Core Duo T7200 Processor 2ghz
2GB RAM
120 GB Hard Drive
DVDRW Dual Layer Drive - To read DVDs and CDs and write CDs and DVD+, DVD- and DVD-Ram
15.4" Crystalview Widescreen TFT Screen
ATI Mobility Radeon X1400 PCI-E 512 MB HyperMemory graphics
Integrated wireless 802.11 a/b/g LAN
Integrated 4 -in-1 card reader – reads Memory Stick, Memory Stick Pro, MultiMediaCard, SD Memory Card

Does Core Duo mean dual core? It's not some confusing marketing ploy to make you believe that, is it? I'm the high bidder now and it ends in a day.
Wow where did you find that? ebay? I want to bid against you lol

-Mikhail
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