mastergunner's PipNailer & Kelly Criterian Journal

Hello,

After months of searching, I've finally found a system that I was comfortable with and that made sense to me. And that would be forexmoment's PipNailer system.

I've decided to run the system on two different charts. On my days off work, I'll run it on the 1hr charts, and on days working I'll be running it on 4hr charts. I'll be monitoring 13 pairs.

My money management will initially start off as 2% of my entire bankroll, however after 50 trades, provided that I'm still profitable, I will be implementing Kelly Criterion into my money management.

I'll continue to post until I'm a millionaire.

Or if after 50 trades, the system doesn't deem itself profitable.

I'll continue to edit this first post with the most recent data.

Wins - 11
Losses - 8
Win Rate - 57.89%
Pips Won - 230
Pips Lost - 211

Bankroll - $3778.81
Kelly Fraction - 19%
Lot Size - 0.1 (projected after first 50 trades 0.7)

All the best..buddy!!

sonic

This is a promising one. I'm generally pleased anytime I see my T/P over 25.

Thank you sir. Might I add, a nice system you have there.

Well the first day lacked success. One more day of hourly charts, then on Friday I start on 4 hour charts. Wondering if signals will be stronger on a higher timeframe.

I missed the ball a bit on getting into some trades. Was working on some other things, saw the clock 20 minutes past and jumped right to the computer. I was able to get in on three trades. There was some heavy movement, and I'm hoping it's going to prompt three easy wins for me. If all three close as they should, it'll reap 100+ pips which will put this system back in business for me.

It was nice to wake up to those three trades turning into winners. Of course now my mind is gravitating on how to maximize profits by letting them run.

Woke up to a trade an hour late, but there was not heavy movement, so I got on board. There were two others that were already moving, so I am going to further investigate before making a final decision.

Currently in 5 different trades with the potential of reaping over 200 pips. After the performance overnight while I was sleeping, I'm thinking it's very possible I knock out all 5 wins.

6 positions open. 1 more just closed for a 33 point gain. If I continue at this rate, my projected position size will start out at .7 lots due to the sharp increase in the Kelly Fraction.

dude i feel like i'm in 4th grade watching someone play MISSILE COMMAND on the atari 2600....

good luck MG....

Last Friday night, I had some misjudgments on how to proceed now that I'm going back to my day job. I've been off for a month on leave as my wife recently had twins. The positions I had open were in profit and I manually closed them on my own accord.

I did it at the time because when looking at the 4h charts, I was not pleased with the performance I was seeing on 4HR charts. Perhaps I could set aside the time to back date each pair I'm trading to see what's viable, but that's probably not much of an option for me now.

As it stands, I have two newborn babies to raise, two fantasy football leagues to play in, a YouTube Partnership account I need to maintain and whatever other silly little things that would hold me back from backdating.

So...

I placed some trades that didn't turn out good for me and they'll probably end with a loss of about 200 bucks as soon as they are stopped out. Unless of course they spin around. I have trailing stops on them now content that if they close out losers, I can deal with it.

Now that leads us on how I'm going to proceed in the future. I liked the results on the 1HR chart and while it won't be feasible for me to always take trades with them, I'm going to shop around with two options. One being I take them manually as I go along. The second being that I make use of an EA. EA's however, scare the boogers out of me as I have no control when I walk away from the computer.

So while I test out an existing EA for PipNailer, I'm going to proceed to just take trades manually.

Right now I have three open positions that could bring in 40+ pips if all was successful.

There was a lesson to be learned here. No rash decisions. Everything should be well thought over before implemented. My transitions over the weekend brought me right back where I started, however with a tad smaller bankroll. And frankly, such errors are not acceptable.

Nothing but the best, from here on out.

I'll see ya at my million dollar mark.

hello .............. its 2012 now here , have you been a millioneare ....