Would it be too much trouble to pay me back my $20,000, my sexy darling? | Page 26 | Forex Factory

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Would it be too much trouble to pay me back my $20,000, my sexy darling?

  • #501
  • Jun 20, 2011 10:26am Jun 20, 2011 10:26am
This is great news MAC, very glad to hear
  • #502
  • Aug 14, 2011 9:21pm Aug 14, 2011 9:21pm
I have had a bit of a set back. My appendix burst and unfortunately it was 9 days before the docs got the correct diagnosis via ct scan. That meant the thing had gone mega septic and had to be removed via a large incision and not the usuall key hole surgery they usually use these days. That meant another 8 days in hospital and 4-6 weeks recovery after that. My trading funds needed to go back into my business account to pay bills and wages leaving me effectively broke again.

I am lucky to be alive so I am not as pissed about it as you might think.

I still have my Oanda mini account and I traded successfully today, my first trade in about a month. A nice 1.2% return for a 0.5% risk
Attached Image (click to enlarge)
Click to Enlarge Name: 12 pips.jpg Size: 175 KB
BTC Return This Year: na
  • #503
  • Aug 14, 2011 10:50pm Aug 14, 2011 10:50pm
Hang in there buddy, really sorry to hear about all of this.
  • #504
  • Aug 15, 2011 5:32pm Aug 15, 2011 5:32pm
Quoting sam0182
Hang in there buddy, really sorry to hear about all of this.
Thanks Sam, Im in no hurry, just rollin' with the punches. I will come back from this stronger than ever.
BTC Return This Year: na
  • #505
  • Aug 15, 2011 8:46pm Aug 15, 2011 8:46pm
Quoting M.A.C.Doug
I will come back from this stronger than ever.
You always do!
  • #506
  • Aug 15, 2011 9:09pm Aug 15, 2011 9:09pm
Quoting M.A.C.Doug
I have had a bit of a set back. My appendix burst and unfortunately it was 9 days before the docs got the correct diagnosis via ct scan. That meant the thing had gone mega septic and had to be removed via a large incision and not the usuall key hole surgery they usually use these days. That meant another 8 days in hospital and 4-6 weeks recovery after that. My trading funds needed to go back into my business account to pay bills and wages leaving me effectively broke again.

I am lucky to be alive so I am not as pissed about it as you might think....

Hi MAC. Hope you are feeling better. If you don't mind a newbie question.
I follow your posts as I do with your thread and I see that you don't seem to be happy with Oanda.
Is there a reason why you don't go trade somewhere else?
I'm asking you this because I also trade with oanda but keeping my eyes open for other opportunities.
What keeps a experienced trader like you from trading with lets say Interactive Brokers or any other more respected broker?
Thanks in advance for your answer.
  • #507
  • Aug 15, 2011 9:38pm Aug 15, 2011 9:38pm
Quoting QuadrupleX
.
What keeps a experienced trader like you from trading with lets say Interactive Brokers or any other more respected broker?
Thanks in advance for your answer.
Thanks for dropping by QuadrupleX

I rejected I.B because there spread was not competive. Same for dukascopy. I like M.B.T but they do not support AUD accounts as yet. The best I can come up with that suits my needs is Go Markets in Australia but I dont trust them. They are a market maker but claim not to be so how can you trust them when they start with a lie?
It is no longer an important issue for me at the moment as I dont have any funds to open a new account with.

I dont like Oanda because they widen spreads to support their own bottom line whilst claiming it is due to market conditions. I know this is b.s because I have seen it happen numerous times when no such conditions existed when compared to other feeds. However, as I am a very short term trader, it does not effect me too badly and I am still able to trade profitably with them. I continue to use them out of convenience more than anything. I am still using the original 1k account I started with them 2 years ago so its money I dont miss and keeps my hand in while I am waiting for the opportunity to trade a decent account with a good broker
BTC Return This Year: na
  • #508
  • Aug 15, 2011 9:48pm Aug 15, 2011 9:48pm
Quoting M.A.C.Doug
Thanks for dropping by QuadrupleX

I rejected I.B because there spread was not competive. Same for dukascopy. I like M.B.T but they do not support AUD accounts as yet. The best I can come up with that suits my needs is Go Markets in Australia but I dont trust them. They are a market maker but claim not to be so how can you trust them when they start with a lie?
It is no longer an important issue for me at the moment as I dont have any funds to open a new account with.

I dont like Oanda because they widen spreads to support their own bottom...
If you don't mind. What would you consider a good broker,MBT? Thats it?

Thanks
  • #509
  • Aug 16, 2011 1:53am Aug 16, 2011 1:53am
Quoting QuadrupleX
If you don't mind. What would you consider a good broker,MBT? Thats it?

Thanks
I dont know of one. Maybe MBT, Maybe Alpari pro with the currenex platform but you need 20k to open an account. My search has not come up with a conclusive answer to this question.
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  • #510
  • Edited 6:20pm Oct 4, 2011 6:01pm | Edited 6:20pm
Its been a while since I posted here but I needed to upload some files. I thought I would show todays trades so people would have something to look at while I was doing this. Im still pluging away with my old Oanda mini account

I set my risk to 0.5% for every 10 pips for a 2 hr scalping session. I kept the stops 10 pips or less.

trades
Wins 7
losers 3
breakeven 1

total 11 for 41 pips

41 pips @ 0.5% per 10 pips = 2% return

It would have been better but Oanda widened their spread which desreased the profit on the last two trades. I did not participate in the breakout rally at the end because Oanda's spread was 6 pips wide by that time.

No matter, 2% for two hours suits me fine
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-10-05_0937.png Size: 131 KB
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  • #511
  • Edited Oct 5, 2011 3:36pm Oct 4, 2011 6:58pm | Edited Oct 5, 2011 3:36pm
This my favourite indicator which I had hanover modify. It is a bollinger band histogram to show when the market is consolidating and gives an early indication that volatility has increased and therefore a sustained breakout move may occur. When the bars are red, the market is in a consolidation and the Bollinger bands are contracting. This also known as a "squeeze". When the bars turn green it means the bollinger bands have begun to expand as volatility has increased. Im saving it here in case I need to retrieve it in the future.
Attached File(s)
File Type: ex4 BBandWidthRatiohisto.ex4   3 KB | 317 downloads
File Type: mq4 BBandWidthRatiohisto.mq4   2 KB | 336 downloads
BTC Return This Year: na
  • #512
  • Edited 5:47pm Oct 6, 2011 9:12am | Edited 5:47pm
Todays results.

12 trades
+78pips
3.9% return
1.8% max draw

Oanda spread was 1.3pips

First five trades had no winners. You might notice that I took two positions for the next two trades after my losing streak. Increasing the size of your positions to recover losses is a form of martingale and considered a big no no. For the most part I agree and don't recommend this practice.

My justification is, the longer I am trading the market, and the more losses I get, the better I get at working out what is actually going on. I become more confident in my trading decisions and therefore more risk is warranted on those more informed trades. My initial risk per trade is 0.5% so im still at 1% or less if I take two positions. Having said that, I admit it is a fine line between justified risk and revenge trading and I must be careful not to cross it

I am not a system trader, I am a discretionary trader with alot of experience focussed on one market. Long losing streaks just dont happen so long as I manage my risk, and trade calmly . Varied risk is incorporated in my risk management rules. You can see that later in the session I took 2x my normal size again. I was already up 2% for the day by this stage so I was not chasing loses. It was a particularly good opportunity at resistance on the daily chart plus the M3 pivot level. These are the trades I am waiting for and deserve more risk.


1 b/e
2 b/e
3 -7
4 -5
5 -6 (-3x2)
6 +24 (+4, +20)
7 +12
8 -5
9 +10
10 +15
11 +20 (+20, 0)
12 +20 (+20, 0)
Attached Image(s) (click to enlarge)
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  • #513
  • Oct 6, 2011 10:05am Oct 6, 2011 10:05am
Quoting M.A.C.Doug
Todays results.

10 trades +38pips 1.9% return

Oanda spread was 1.3pips

First five trades had no winners. You might notice that I took two positions for the next two trades after my losing streak. Increasing the size of your positions to recover losses is a form of martingale and considered a big no no. For the most part I agree and don't recommend this practice.

My justification is, the longer I am trading the market, and the more losses I get, the better I get at working out what is actually going on. I become more confident in...
Hi Dough. And i have Oanda Europe and the spread is unstable and sometimes bigger than 1,3pips on EU... GU 4pips often...
  • #514
  • Oct 6, 2011 11:28am Oct 6, 2011 11:28am
Quoting Fana
Hi Dough. And i have Oanda Europe and the spread is unstable and sometimes bigger than 1,3pips on EU... GU 4pips often...
Hi Fana
I thought you were going to give me a lecture about increasing my position size,

Yeah Oanda is not what it used to be. I remember when it was 0.9 pips almost all the time. As a scalper with less than 10 pip stops, it means I am 8.8 pips away from losing and 11.2 pips away from winning a 1;1 risk reward trade. Those are not good odds but its forced me to be more careful so it wasnt such a bad thing. If I ever raise the funds, Im going proper ecn
BTC Return This Year: na
  • #515
  • Oct 8, 2011 1:50am Oct 8, 2011 1:50am
13.6% return this week but Im not that happy about it - its a little too good. I basically broke even yesterday after being 0.5% up on my first trade. I took some less than ideal trades after that and drew down about 5% before recovering. I think 5% draw in a day is too much and I should not have been trading nfp day to that extent anyway. I took more risk to recover the loss so it could have been much worse if those trades hadnt worked out. This result is not sustainable, I was lucky this week. I need to be more selective and trade less. We will see what the end of the month brings
BTC Return This Year: na
  • #516
  • Oct 8, 2011 4:58am Oct 8, 2011 4:58am
I understand what you mean .. i had a rise of 82.96% this month on my account which is definitely not sustainable.. I am looking for consistentcy and the ability to pull money out of the forex market's arse and not luck ... am into my third week now and i will update you about my total % increase in account by the end of the month. I am using 2 -3 mini with a leverage of at most 15:1


Warmest Regards
There is no royal road to anything.
  • #517
  • Oct 10, 2011 6:08am Oct 10, 2011 6:08am
Quoting Leinadgnow
I understand what you mean .. i had a rise of 82.96% this month on my account which is definitely not sustainable.. I am looking for consistentcy and the ability to pull money out of the forex market's arse and not luck ... am into my third week now and i will update you about my total % increase in account by the end of the month. I am using 2 -3 mini with a leverage of at most 15:1


Warmest Regards
Hi
I earned way too much today by letting a single trade run. It recovered my small losses and returned more than my entire week last week. I hope it was more to do with ability than luck,
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-10-10_2139.png Size: 111 KB
BTC Return This Year: na
  • #518
  • Edited 8:54pm Oct 11, 2011 8:39pm | Edited 8:54pm
Quoting M.A.C.Doug
13.6% return this week but Im not that happy about it - its a little too good. This result is not sustainable,
Speaking of unsustainability Yesterday I traded for 27 hrs with only meal breaks away from the screen.

I didnt start out intending to do that, infact I won my first four trades quickly and was going to stop there with 2% for the day. However, I had stuff to do that I didnt feel like doing so I just kept trading. Occaisionally I got myself into uncomfortable situations but for the most part I was quite relaxed and enjoying myself.

The market was very slow and traded within a 100 pip range. It was not easy to capitalise as most moves were short lived and many winners turned to losing trades because targets were hard to achieve.

I managed to have an edge of 1.3/1. It dosen't sound like much but it is actually better than casinos have. Of course casinos edge is fixed and cant vary and they can play 24/7. I dont have those luxuries as a manual discretionary trader. In my experience of live trading, that is about as good as it gets. Anybody know of any cheap casino's for sale?

I dont intend to repeat the experience anytime soon and I am taking the rest of the week off to take care of some pressing issues in my "other" life. Having said that, I did get into a zen kinda zone of winning and losing with a low care factor. I wont forget that in a hurry, it was most valuable experience

Here are the results

trades .............46
risk/trade......... 0.6%
wins............... 24
loss................ 22
win rate.......... 52%
pips won......... 330
pips lost.......... 250
net pips.......... 80
average win.... 14.8
average loss... 11.4
conseq wins.... 4
conseq lose.... 4
max draw....... 3.1%
max gain........ 3%
return........... 4.8%
profit factor... 1.3

This is my Euro chart - not all trades were taken here - I traded the Aussie a little also
Attached Image (click to enlarge)
Click to Enlarge Name: 27hrscalp.png Size: 129 KB
BTC Return This Year: na
  • #519
  • Oct 13, 2011 3:55am Oct 13, 2011 3:55am
Quoting M.A.C.Doug

I dont intend to repeat the experience anytime soon and I am taking the rest of the week off to take care of some pressing issues in my "other" life.
Couldnt stay away and Im glad I didnt. I cant mark the exact pip returns like I usually do cause I did a bit of scaling out and locking in break even on the remaining position. Really nailed the entries and exits today for a 3% return over 4 hours of relaxed trading.
Attached Image (click to enlarge)
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BTC Return This Year: na
  • #520
  • Oct 13, 2011 5:56am Oct 13, 2011 5:56am
Hope all is well Mac.
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