Thanks tradestar
I'm getting there!
Kind Regards
Steve
I'm getting there!
Kind Regards
Steve
Dukascopy Live Account - Don't Post if you haven't traded live with them! 117 replies
My Live Trades on my Live Account 588 replies
go live or bust ... diary of an fx live-trader-wannabe 1,621 replies
Trade 2 live accounts - one with full balance, 2nd as a live test? 0 replies
Oanda 10$ live acc quick-start guide (for newbie to trade live safe) 13 replies
Dislikedway to go Steve, never had doubts with you though my old friend
Hope you and the family are wellIgnored
DislikedHey Stevie
Thank you for sharing your experience.
Your public journal is very interesting - please continue posting on occasion that you have the time.
Dan
Ignored
DislikedHi Steve,
Good to see you had a good month.
Why did you open two long positions?
Also have you changed your position sizing from 100 pips per 1%
Thank
PIgnored
DislikedHi P,
I'm not sure if I was clear on position size when we chatted on here earlier in the year but essentially not a lot has changed.
From November until April I was only using 50sma but from May have also used 50ema too and opened 2 new positions each month. These positions are half the size of when I used just the 50sma as guide.
Each position equates to 1% or thereabouts for 50 pips. No stop loss is used on these - a daily close the other side of either or both ma's means I close manually and re-open new positions the other way.
I only...Ignored
DislikedHi Steve,
Always interested in your progess.Great job keep it up!!... JoshIgnored
DislikedHey, Steve.
You are the reason i'm back at it. The thing that i aspire to emulate is your long view and your patience. 74% for 11 months. THAT is what I am interested in. My hope is to see 50% over 12 months.
Thanks for continuing to post your results... keeps me motivated.
JayIgnored
DislikedHey Jay!
I was so pleased when you decided to start your journal again and give this thing another go
I see you've already had a few good months (better than me ) and I know that you have it in you to be consistently profitable long term.
October will almost certainly be my last month with the journal - lol, it was only ever going to be a year & here we are over 4 years later. However, I'll still be around and I'll be looking in on your progress!
Great to see you pop in here & speak soon no doubt.
SteveIgnored
DislikedHey, Steve.
Nooooooooooooooooooooooooo... please don't go. Actually, I understand... maybe. You are such a good guy that you have all these friends... so you post your results and you get a bunch of folks who want to stop in and congratulate you. So you feel like you need to respond... which i think you enjoy... but it is a fair amount of work.
Or maybe it is just your plan.
But whatever the reason, i am sure going to miss your posts. You wouldn't reconsider, would you?
JayIgnored
DislikedAt what price did you add the two new positions Steve? just curious.Ignored
DislikedWhat I do is close the previous months positions (they were long from 1.28776) at month end which I did at 1.36292 and 1.36285.
As price was still above daily 50sma & ema, 2 new positions were immediately opened at 1.36317.
The 'add-on' position was activated at 1.28693 just after NY close on 13th September with a 50 pip stop loss. This will not be closed until the stop loss is hit - it maybe days, weeks or months. Stop loss is moved at the end of each day to 50 pips below the ma it was taken from (in this case the sma). The stop loss on...Ignored
DislikedHi Steve,
First time poster in this thread. Looks like I'm late to the party! I've read your 50 sma/ema strategy and it's simple but effective. You explained the method pretty clearly but I just want to clarify a few points:
1. Say we're in an uptrend and price is above the 50 sma. Then price comes down near the sma and you have an add-on (long) triggered on day 1. Then on day 2 price closed 20 pips below the sma. According to your strategy you would closed your primary trade (long) and immediately open a short trade. Would you have closed the...Ignored
DislikedHi Steve,
First time poster in this thread. Looks like I'm late to the party! I've read your 50 sma/ema strategy and it's simple but effective. You explained the method pretty clearly but I just want to clarify a few points:
1. Say we're in an uptrend and price is above the 50 sma. Then price comes down near the sma and you have an add-on (long) triggered on day 1. Then on day 2 price closed 20 pips below the sma. According to your strategy you would closed your primary trade (long) and immediately open a short trade. Would you have closed the...Ignored
Disliked2. Follow the above scenario and assume you haven't closed the add-on yet. Now you have a long add-on and a primary short position. I assume you'll also set a limit order to sell 10-pip below the sma. Now it's beginning of day 3 and price isn't moving much but retraces up just enough to trigger the short add-on. So theoretically you could have a long add-on and a short add-on open at the same time (though probably for a short period of time until either one is stopped out)?Ignored
Disliked3. Once you've entered an add-on, will you space out additional add-on entries? See the attached chart as an example. EUR/USD closed below the 50 sma on 8/20. Then later on there are 3 consecutive days where price retraced up near the sma. Would you have entered all 3 add-ons or just 1 and wait for it to go well into profit before the next opportunity appears to add the 2nd one?Ignored
DislikedHi there
OK, hopefully this will clarify things...
Kind Regards
Steve
Ignored
DislikedThanks for the detailed reply. I came up with these questions when I tried to do backtest on this method. Before that I thought I had it all figured out! LOL.
Speaking about backtest, you mentioned in this post that you have done it all the way back to 1999. Was it for the primary strategy only or was the add-on strategy included as well?
P.S. Oh yes I agree there's a lot of wisdom in OND's thread. Hopefully he'll be posting again. Hey, hopefully you'll stay in...Ignored