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  • #301
  • Sep 16, 2010 5:50am Sep 16, 2010 5:50am
Quoting bluemele
Last 4 months, I have been trading on about 3k-4k on NB4 system. I averaged about 16% per month. (Sad to say I turned it off a week ago and I would have made about 300.00 yesterday alone!)....So, with these settings, I am comfortable, can watch the DD and if we get another May 5-6, then I will be ready for it and accept the 20% hit....

Also, your calculation doesn't take into account what I call May 2010 type days... and living off of...
I suppose we are aiming to be where you are now. I would say any system which consistently gives a return of 10% per month is a fantastic system. Expectations of 30% or 50% per month is unrealistic and although some systems may produce that in the short term, in the long run they crash.You are a conservative level headed trader and I am sure you will succeed.

Keep us posted and let us know how you getting along.

Kind regards
  • #302
  • Sep 16, 2010 6:03am Sep 16, 2010 6:03am
Quoting astral77
I suppose we are aiming to be where you are now. I would say any system which consistently gives a return of 10% per month is a fantastic system. Expectations of 30% or 50% per month is unrealistic and although some systems may produce that in the short term, in the long run they crash.You are a conservative level headed trader and I am sure you will succeed.

Keep us posted and let us know how you getting along.

Kind regards
well, if you make consistently 10% per month with a system, you are a trader-superstar. any prop-trading company, hedge-funds or whoever will build you a golden statue. they will kiss your feet... (if you want that)
meine augen sind die sterne
  • #303
  • Sep 16, 2010 6:05am Sep 16, 2010 6:05am
Quoting aserbfx
well, if you make consistently 10% per month with a system, you are a trader-superstar. any prop-trading company, hedge-funds or whoever will build you a golden statue. they will kiss your feet... (if you want that)
there are a lot of private trader making 10 % a month
bluemele got about 6 % i think?
Hero calls followed by margin calls...
  • #304
  • Sep 16, 2010 6:19am Sep 16, 2010 6:19am
Quoting PhAnTi'
there are a lot of private trader making 10 % a month
bluemele got about 6 % i think?
We are talking long term. Scooby gave us the figuers and expectations in a commercial environment, I can not recall the exact figures, but I think he mentioned that if a professional trader makes 65% per annum he is considered to be very successful and the DD must be kept vey low, again I do not recall the exact figure but I think he said if his DD is more than 5% he will be asked to leave! Or in other words he would not be allowed to trade. Do not forget we are talking Big financial institutions with fantastic computer systems and teams of traders, each specializing in particular group of currencies. For instance Scoobs is JPY specialist, I am sure Scoobs would correct me when he sees this post.

Asberfx is quite right 10% per month is superstar trader category. Now with this system we may make 10% or even 15% in a month but there will be months that we may have losses. If you Read Bob`s earlier threads he does address this issue and as I recall in some places he warned about making high returns. Reason being, if you are making excessive profits then it means you are taking excessive risks which would result in your downfall in the long run. I suppose it is the case of the tortoise and the hare...

Kind Regards
  • #305
  • Sep 16, 2010 6:24am Sep 16, 2010 6:24am
Quoting PhAnTi'
there are a lot of private trader making 10 % a month
bluemele got about 6 % i think?
i don't know how you define "a lot", but i guess that less than 1% of all traders make 10% per month on a constant basis.
meine augen sind die sterne
  • #306
  • Sep 16, 2010 7:25am Sep 16, 2010 7:25am
Quoting astral77
[color=black][font=Verdana]We are talking long term. Scooby gave us the figuers and expectations in a commercial environment, I can not recall the exact figures, but I think he mentioned that if a professional trader makes 65% per annum he is considered to be very successful and the DD must be kept vey low, again I do not recall the exact figure but I think he said if his DD is more than 5% he will be asked to leave! Or in other words he would not be allowed to trade. Do not forget we are talking Big financial institutions with fantastic computer...
if anyone can show a Bank, Hedge Fund or alike a live trading statement using standard lots whereby they have consistently made >= 10% per month over a >= 12 month period would be hired.

Just makesure you hide your account number and do not under any circumstances detail your methodology unless they sign a NDA.

However, you should bear in mind that they are not going to give you a trading station and just let you trade with $5 Billion. You will be part of a team that will be given trading plans to follow based on the companies expousure in the market. So, if their current policy is to sell USD for a variety of long term reasons then they are not going to look upon you too kindly if for example you start buying USD because NB's system or any other has indicated that you should.

But as you progress on their trading floor you will be given to some extent a free hand to trade your own plan. But again this must generally fit in with their overall exposure in the market.

This is assuming that you want to work for someone else.

However, if you can achieve those types of returns then personally i would get investors and just carry on trading your own way and charge them a monthly admin fee.

People assume that working for a big Bank etc is the dogs nuts but I can assure you that it can be a very harsh place to be if you happen to get things wrong. Everyone loves a winner but.....

Scoobs.
  • #307
  • Sep 16, 2010 7:29am Sep 16, 2010 7:29am
YES!! At last out of EURAUD at exactly break even

From the 1st of September and three levels deep, L1 reaching -500 pips at the lowest point. What a marathon!!

Next is the EURUSD! I made a really stupid long entry a couple of days ago that today make no sense to me at all. Currently at L2. Still some distance before considering L3.

I started this method live 25 days ago. Today I have banked 8.67% with a current DD of -3.5% (was down to -15% at one point!! I know it's very high but I was learning)

The great thing is the more I get into these situations the more I get confident about dealing with them. I am now looking at -170pips hole and think 'OK, still not close to L2, so no problem!!'

Long Live Naningbob 5!!!!

Edit:
Just wanted to add something, Bob said a number of times, when you are in recovery the objective is to break even, not profit. This is easy to forget expecialy when we see the price moving quickly in our direction. As I was watching the EURAUD reach BE it was going so fast one minute that I left it go above BE only to see it retrace quickly below. I was kicking myself. So I set hard TP levels at the BE point and luckily it went up again and hit it!!

Lesson for me (I lost count of how many times I said this myself) Do Not Be Greedy!! Breakeven after a deep hole is a great result!!
  • #308
  • Sep 16, 2010 7:38am Sep 16, 2010 7:38am
Quote
Lesson for me (I lost count of how many times I said this myself) Do Not Be Greedy!! Breakeven after a deep hole is a great result!!

I could not agree more
  • #309
  • Sep 16, 2010 8:14am Sep 16, 2010 8:14am
Quoting scooby-doo
if anyone can show a Bank, Hedge Fund or alike a live trading statement using standard lots whereby they have consistently made >= 10% per month over a >= 12 month period would be hired...People assume that working for a big Bank etc is the dogs nuts but I can assure you that it can be a very harsh place to be if you happen to get things wrong. Everyone loves a winner but.....

Scoobs.
We all have an idealistic view of working for big financial institutions because of headline news regarding big fat pay cheques and bonuses. On the flip side as you mentioned it is a highly stressful environment and office politics has a new meaning. Jetting off here and there may sound glamorous but I wonder after few weeks and waking up 04:00 in the morning to the airport and back home around 10 at night two or three times a week, it would be fun anymore. Our company provides services to the likes of Santander and BlackRock and recently people who we thought of their fixed pillars are made redundant (with a fat golden hand shake). This is one of the reasons Alcohol and drug abuse is rife in this sector. As always dreaming about something is always more glamorous than living it.

Kind regards
  • #310
  • Sep 16, 2010 8:35am Sep 16, 2010 8:35am
Quoting scooby-doo
if anyone can show a Bank, Hedge Fund or alike a live trading statement using standard lots whereby they have consistently made >= 10% per month over a >= 12 month period would be hired.

Just makesure you hide your account number and do not under any circumstances detail your methodology unless they sign a NDA.

However, you should bear in mind that they are not going to give you a trading station and just let you trade with $5 Billion. You will be part of a team that will be given trading plans to follow based on the companies expousure in...
true true true.
the words of a wise person. someone who knows how this business works in the real world.
you are the hero as long as make good profits, but as soon as you have a loosing period you will be kicked very quick.
meine augen sind die sterne
  • #311
  • Sep 16, 2010 8:42am Sep 16, 2010 8:42am
Quoting Zr-fx
YES!! At last out of EURAUD at exactly break even...From the 1st of September and three levels deep, L1 reaching -500 pips at the lowest point. What a marathon!! ...Lesson for me (I lost count of how many times I said this myself) Do Not Be Greedy!! Breakeven after a deep hole is a great result!!
It is nice when recovery works the way it is supposed to. I have learned the hard way to keep my greed in check and you are correct after recovery either brekeven or a very small profit is a good result and one should not tempt fate too much.

The important thing in life is for us to learn from our mistakes. Easier said than done. For me there are a few rules that must be followed when trading this system:
1. Only trade with the money you can afford to lose (do not use kids college money, pension money, etc). That way your emotions will have less influence on your decisions.
2. Stick to the rules no matter what (with exception of important fundamental factors)
3. Take your time this is 4H trading, do not rush. Two weeks holding onto a trade may seem a life time if you are used to 15m. Sometimes with slow movers it may take few weeks.
4. Make good use of Bob`s and other experienced traders advice in decision making.
5. If you are confused and unsure where a particular trade is heading and the fundamentals are uncertain, either close the trade or hedge the trade (as Bob puts it hedging a trade is like freezing the time) and come back to it when you have formulated a plan and you have a better idea how the markets are behaving.
6. As Scoobs and Bob keep saying, if you have a losing trade which is bugging you big time, do not get bogged down and get obsessed with it. Close the damn thing and move on. Devote your time and energy to new opportunities.
7. Keep a trading journal (I try but most of the time I am too lazy to keep updating it)

I try to stick to these rules with variable success (after all we are human beings and not machines), however, RULE 1 is a must which is NEVER broken and must NEVER be broken.

Kind Regards
  • #312
  • Sep 16, 2010 8:42am Sep 16, 2010 8:42am
Quoting astral77
[color=black][font=Verdana]We are talking long term. Scooby gave us the figuers and expectations in a commercial environment, I can not recall the exact figures, but I think he mentioned that if a professional trader makes 65% per annum he is considered to be very successful and the DD must be kept vey low, again I do not recall the exact figure but I think he said if his DD is more than 5% he will be asked to leave! Or in other words he would not be allowed to trade. Do not forget we are talking Big financial institutions with fantastic computer...
I'm not talking about banks,financial institiutions etc.....I'm talking about private traders with a volume of ~100 000k ....how many traders out there don't publish their systems which make 8-10 % a month

sooo please let us go back to thread's roots

open a mindset-thread or s.th else to discuss those things there
Hero calls followed by margin calls...
  • #313
  • Sep 16, 2010 8:46am Sep 16, 2010 8:46am
Quoting Zr-fx
Sorry to butt in, but you say you have enabled all the panel's EA?! (so all green lights in EA1 to EAS?)

I do not believe the panel was designed to have all its EAs enabled and for it to decide which to take (others, please correct me if I'm wrong)....

In the NH4 Dashboard, enabling all eas on the panel from EA1 to EAS is like enabling EAS only.
The panel consider only the last EA from your selection list. For example, if you activated EA1, EA4 and EA7, then only EA7 is considering for BUY/SELL (EA1 and EA4 are totally ignore).

EAS is the 7-3-3 stochastic cross with 15/85 level. That explains why shag3doo get decent results so far just with this EA.

Mart
  • #314
  • Sep 16, 2010 8:58am Sep 16, 2010 8:58am
just to further what i said b4 on this thread....

you know.... i think it'll be really hard to backtest accurately my initial thoughts about the straight up 50 tp/sl or 100 tp/sl.

i think if you are going in with bigger lot size. just take rwb at the extremes. always over/below 85/15. and always EA 2 trades. i am sure you will do well. it makes sense.

as bob said, if it bounces off 70+% of the time, with ea1 and ea2. it must be better than that with ea2 alone. if you add in bb runs and our own dumb little mistakes, i am pretty sure we will get 60+% win rate at least, which will end up to be a large sum of money. depending on how much you are putting in per trade.

i think this would be a even better methodology than what i observed from b4.

using this methodology, i'm sure on the correct weeks, secondary trades will be easier to spot as well, and just load up a couple of wins to take a gamble off of S/R trades. i think the net result over time will be very profitable.

edit: i mean ea1 can be good when things are peachy. but when the tide turns, it could be an emotional hit. ea2, at worst, it'll be a small loss. that's still pretty good. since your wins look real pretty.
  • #315
  • Sep 16, 2010 10:02am Sep 16, 2010 10:02am
Quoting phover
EAS is the 7-3-3 stochastic cross with 15/85 level. That explains why shag3doo get decent results so far just with this EA.

Mart
Mart

Does EAS ignore BB completely and just trigger off Stoch733?

Z
  • #316
  • Sep 16, 2010 10:34am Sep 16, 2010 10:34am
Quoting phover
In the NH4 Dashboard, enabling all eas on the panel from EA1 to EAS is like enabling EAS only.
The panel consider only the last EA from your selection list. For example, if you activated EA1, EA4 and EA7, then only EA7 is considering for BUY/SELL (EA1 and EA4 are totally ignore).

EAS is the 7-3-3 stochastic cross with 15/85 level. That explains why shag3doo get decent results so far just with this EA.

Mart
Hi Phover,

thanks for clearing this, now it made more sense. The only thing is, the comment still shows the trades are using <1>.

Karl
  • #317
  • Sep 16, 2010 11:00am Sep 16, 2010 11:00am
Quoting Zr-fx
Mart

Does EAS ignore BB completely and just trigger off Stoch733?

Z
Yes it ignores BB totally. It fires a trade when Stoch733 cross 15/85 level (going inside the 15-85 range). Then before activating it, be sure sto733 is over 85 (for a sell) or under 15 (for a buy).

Mart
  • #318
  • Sep 16, 2010 11:06am Sep 16, 2010 11:06am
Quoting shag3doo
Hi Phover,

thanks for clearing this, now it made more sense. The only thing is, the comment still shows the trades are using <1>.

Karl
Yes cause the routine I use to set the comment for the order check the flag of each EA starting at EA1 to EA7 (I presume that no more than 1 EA is activate at the same time as per Bob method). It founds EA1 is set first then the function return "1". But your trade is taken with EAS conditions.
Do this test: Stop/remove EA1 and you'll see "2" in the comment for all your trades but the trades will be taken by EAS.

Normally, you should only activate one EA at a time as per Bob method.

Mart
  • #319
  • Sep 16, 2010 11:26am Sep 16, 2010 11:26am
Quoting astral77
[color=black][font=Verdana]We are talking long term. Scooby gave us the figuers and expectations in a commercial environment, I can not recall the exact figures, but I think he mentioned that if a professional trader makes 65% per annum he is considered to be very successful and the DD must be kept vey low, again I do not recall the exact figure but I think he said if his DD is more than 5% he will be asked to leave! Or in other words he would not be allowed to trade. Do not forget we are talking Big financial institutions with fantastic computer...
Don't pick on me, but I am 90% through my CTA licensing! I have a PAMM account already in the works. I have had many friends ask to join me on my trading.

I will only trade others cash if/when they have the ability to do so and their equity is no greater than my own...

This is a great system that you can share with others, so why not... The key for me is NOT WORK FOR SOMEONE ELSE!!!!!! haha... I don't get that concept.... Maybe I will someday...

Sorry for interrupting this thread, we will now go back to our regular programming....

---------------------

Got some good pips, but I had a 70 pip mistake with the NH4 panel. I switched from using my new larger account to a smaller account and it kept base lots at .1 instead of .01! I had a trade that I closed quickly as it didn't fire properly and it wasn't 7 pips that I lost... haha...

Life is good!
We are our own best indicator.
  • #320
  • Sep 16, 2010 11:27am Sep 16, 2010 11:27am
Are you guys limiting your currencies traded by spreads at all?

Spreads at one of my brokers is absolute crap on some currencies so if it is over 12, I don't do them...

Just curious on what you guys do...
We are our own best indicator.
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