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On My Way To The Top

  • #1,121
  • Nov 18, 2011 12:56pm Nov 18, 2011 12:56pm
Quoting pmullin86
I closed it out manually at the 4 hour 50 ema so thats why its not an even percentage...and yes I did because although the set ups are similar it may work for one and not the other and if traded correctly I'm confident in the strategy enough that the winning percentage is high enough for me to do such things without changing the risk now I would change the risk level if I was long on the 15 minute and than got another signal on the 5 minute as than I would enter on the 5 minute with 1% risk....
I think 6 % risk at one time is quite ok in your position.

Don't know how much you really made over the last 4 month or so - but it must be quite a high % of your initial deposit.

I used at one time a MM system which did at certain states increas the Risk quite a bit to - but there were always planned periods where the Risk was reduced... It worked quite well and was kind of self adjusting (actually I used it when I did automatized trading)

An other MM which might be of interest to you would be from an Australian Trader:
for the basic idea see:Variable Fractional Percent (VFP) see some hints there: http://www.futurestech.com.au/Though...%20Calculation

Not sure, but it might work quite well with your approach as you have at least each day some trades so it would do it's auto-adjustment.
(you would probably need to use an excel sheet to keep track)

For some systems I quite like that - as one can make small adjustments to the basic idea..and get out a lot of it. (worked also quite well in automatized trading.

BTW: how would today trades have handled a 50%SL?


I'm out: wish you a good weekend.

MJ
__Thanks__ MJ
  • #1,122
  • Nov 18, 2011 1:01pm Nov 18, 2011 1:01pm
Quoting M_j
Do I see it correctly that you don't trail the long term trades and have not even set an emergency to BE?
So you just let them loose

I that is the case I would still advice you to put at least an emergency SL - I mean it would be a real shame to loose 1150+ pips and end negatively.

Anyway personally I don't bother

In the beginning did you plan already to let them run or did you enter them normally and later decided to give it a try?

Its a demo account created strictly for trying out to see the effects of just letting it run loose from nicely stacked ema's on the 30 minute. (so for this I did enter on this account with the intention of holding...) Initially I did have stops in place and such but once it began running in profit after the first day I took the stops out just to see how things go since this is my first trial of holding trades for this long...
No man is free who is not a master of himself. -P.M.-
  • #1,123
  • Nov 18, 2011 1:10pm Nov 18, 2011 1:10pm
All three trades today would have been successful with the 50% stop loss...
No man is free who is not a master of himself. -P.M.-
  • #1,124
  • Nov 18, 2011 1:18pm Nov 18, 2011 1:18pm
But thanks MJ and you have a good weekend yourself...
No man is free who is not a master of himself. -P.M.-
  • #1,125
  • Nov 18, 2011 1:33pm Nov 18, 2011 1:33pm
just went to add up gains and it looks like I'm sitting at about 10% total returns for the week
No man is free who is not a master of himself. -P.M.-
  • #1,126
  • Nov 19, 2011 3:32pm Nov 19, 2011 3:32pm
Thanks k-kay for the correction on gains for the week but your right....I didn't add in the gains from Friday into the equation so I did end up with 22% this week and not just 10. So that one entry I missed for the 8% would have had me dead on with my weekly goal...lol but its fine as I can't really complain with things as hectic and crazy as its been....
No man is free who is not a master of himself. -P.M.-
  • #1,127
  • Nov 19, 2011 4:45pm Nov 19, 2011 4:45pm
Quoting pmullin86
Thanks k-kay for the correction on gains for the week but your right....I didn't add in the gains from Friday into the equation so I did end up with 22% this week and not just 10. So that one entry I missed for the 8% would have had me dead on with my weekly goal...lol but its fine as I can't really complain with things as hectic and crazy as its been....
hi pmullin86,
I'm confused about how you calculate your % gains / losses:

e.g.: Week start capital = 100$
if you made 10% till Thursday evening = 110$

*and Friday start capital = 110$
you made 12% on Friday from 110$ = 13.2$

**Week total = 123.2 = 23.2%


When you say you made 12% on Friday: is that always based on the week start capital or always on each day start capital (in that case on Friday start capital)?

Cheers
Ati
Money is important, Love is essential.
  • #1,128
  • Nov 19, 2011 9:40pm Nov 19, 2011 9:40pm
Quoting Ati Baia
hi pmullin86,
I'm confused about how you calculate your % gains / losses:

e.g.: Week start capital = 100$
if you made 10% till Thursday evening = 110$

*and Friday start capital = 110$
you made 12% on Friday from 110$ = 13.2$

**Week total = 123.2 = 23.2%


When you say you made 12% on Friday: is that always based on the week start capital or always on each day start capital (in that case on Friday start capital)?

Cheers
Ati
Well it depends...for the first trade of the day it is based on the starting capital of that very day but any trades taken after that once the position is closed will be using that new capital amount but if I have two trades taken at the same time than it will be taken using the same starting value... (huh that doesn't make sense?) ok here is an example of both scenarios....

ex.1

starting capital of the new trading day is $100

open a trade on the eur usd and close for 10% so new value of account is $110 and than 15 minutes after I close out that trade I take a new entry on the aud usd. That new entry will be taken using the new capital amount of $110

ex.2

starting capital of the new trading day is $100

open a trade on the eur usd using amount of capital at the beginning of the trading day and while in this trade another entry is triggered on the aud usd so I will open a trade using that same account value of $100 since the position is still running....(some may disagree with this but thats just how I have come to like doing this....)

now as far as the profits and losses I write on here at the end of the day or the end of the week it is not getting technical and so you are very accurate in the way you calculated it but for the sake of not complicating things I just add up the percentages I made and the percentages I loss and just consider that my gains or losses for the week and don't get into the actual change in account and such for that I could easily pull up a chart to see equity growth and such...

so this week for example I had
+6%
+6%
-2%
+12%

and so I just added those up to give me the 22%...but again going indepth with that, you are correct in what you are saying and so for Friday, the first trade I took was based off of the capital in the account at that time and not just at the beginning of the week...hope I answered your question....
No man is free who is not a master of himself. -P.M.-
  • #1,129
  • Nov 20, 2011 1:48am Nov 20, 2011 1:48am
Quoting pmullin86
I have two trades taken at the same time than it will be taken using the same starting value... (huh that doesn't make sense?) ok here is an example of both scenarios....
All of what you said makes perfect sense to me.
Thanks.

Cheers
Ati
Money is important, Love is essential.
  • #1,130
  • Nov 20, 2011 5:43am Nov 20, 2011 5:43am
No Problem
No man is free who is not a master of himself. -P.M.-
  • #1,131
  • Nov 20, 2011 6:46am Nov 20, 2011 6:46am
Quoting M_j
hi khntb,

this is not difficult at all:

1.
copy the mtf stoastic: #MTF Stochastic v2.0.ex4
to your MT4 indicators folder: MT4/experts/indicators

2.
Add the first MTF STO like any customary indicators:

View>Navigator and drag and drop the indicator on the sub window

see pic 1: Insert>Indicators>Custom select the mtf Stochastic

3.
Overlay it with a second Open Navigator:


see pic 2


Hi MJ,

Thanks so much for your help. and pmullin86, you too.
sorry for late reply. I was busy with my work last week.
I've managed to get the mtf stoch. I see you guy've done a great job in this thread, big applause to you guy

I'm new here. I found this tread is very interesting to me.
I started reading from the beginning so to catch up what you guy have discussing. However, the more I read the more confuse I'm getting

you guy touched about the "Alerter" and its setting which I don't totally got nowhere. (BTW, I stopped at page 22, still far far behind....). I need to brush up on this in order to continue reading.

have a great trading week.
  • #1,132
  • Nov 22, 2011 7:49am Nov 22, 2011 7:49am
Eur position currently
Attached Image (click to enlarge)
Click to Enlarge Name: nov 22nd.gif Size: 50 KB
No man is free who is not a master of himself. -P.M.-
  • #1,133
  • Nov 22, 2011 3:24pm Nov 22, 2011 3:24pm
The overall trends in my eyes are seeming a bit exhausted at this point and I think we may begin to see some more up movement on the eur usd, aud usd, nzd usd, gbp usd and the opposite on the usd cad and usd chf...but of course I will be looking for divergence on the higher time frames to help confirm this.....but doesnt change the fact that I am still just going to follow my rules and enter as I see fit with the small edge that I have and thats all I can do as a trader...
No man is free who is not a master of himself. -P.M.-
  • #1,134
  • Nov 22, 2011 8:11pm Nov 22, 2011 8:11pm
still short on the eur usd...stop was about 14 or 16 pips and currently up about 80 pips......will see how this plays out...
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd.gif Size: 41 KB
No man is free who is not a master of himself. -P.M.-
  • #1,135
  • Nov 23, 2011 4:51am Nov 23, 2011 4:51am
eu update...closing out now for 155 pips...for about 22% I'm closing because eu has reached its daily range and I'm figuring it may try and pull back...and if it keeps dropping oh well...I'm content with the profits I got out of this...
Attached Image (click to enlarge)
Click to Enlarge Name: eu upate.gif Size: 46 KB
No man is free who is not a master of himself. -P.M.-
  • #1,136
  • Nov 23, 2011 5:04am Nov 23, 2011 5:04am
Here is a pic of the short I took on the nzd usd which was the only entry I liked so far from this morning and got me 4%...I was looking to add to eu position on the 15 minute but it wasn't ideal for me so I decided not to...was also looking to short the gu but the one hour rope was the main factor in me deciding not to..total for today and the week so far is 26%...may not trade on friday or thursday since I'm not sure what my plans are but more than likely will involve spending a lot of time with family and such for the holidays....and shopping on Friday of course...lol...so I may not get the opportunity to be at the computer much...

I forgot to add for my own reference since MJ may not be around much for a while but the 50% stop loss would not have been hit...so potentially with that being implemented, this position could have been an 8% trade since cutting the stop loss in half and trailing by the full stop size doubles the reward....
Attached Image (click to enlarge)
Click to Enlarge Name: nzd 4%.gif Size: 49 KB
No man is free who is not a master of himself. -P.M.-
  • #1,137
  • Nov 23, 2011 5:31am Nov 23, 2011 5:31am
hi pmullin86,
I started to test the AL indi....I noticed today that it didn't work correctly: throwing errors similar to:

LAST-MT4-ERROR: <4002> - array index is out of range

the other two pairs were ok....Do you get such errors often - and does it still Alert...in my case it seemed to have crashed.
What is your experience...?
Money is important, Love is essential.
  • #1,138
  • Nov 23, 2011 5:36am Nov 23, 2011 5:36am
Quoting Ati Baia
hi pmullin86,
I started to play a bit with the AL indi....I noticed today that it did not work correctly: throwing errors similar to:

LAST-MT4-ERROR: <4002> - array index is out of range

the other two pairs worked ok....Do you get such errors often - and does it still Alert...in my case it seemed to have crashed.

With some of the newer stuff thats the error MJ said he found in live tests and so he still had to correct that but what I use is the older stuff before he made the extra necessary revisions...I think he took them off his page but with the one I'm familiar with that I wrote in a previous post...it alerts just fine but you have to reset your mt4 platform at the end of the day or you will get that same array index error message....but it got the job done nonetheless...
No man is free who is not a master of himself. -P.M.-
  • #1,139
  • Nov 23, 2011 5:41am Nov 23, 2011 5:41am
Quoting pmullin86
but you have to reset your mt4 platform at the end of the day or you will get that same array index error message....
Thanks. That's interesting: that you mention to reset it ...or the same error happens .... I will try that...
Money is important, Love is essential.
  • #1,140
  • Nov 23, 2011 5:48am Nov 23, 2011 5:48am
long term trades that I posted about the other day are up now 1968 pips between 5 pairs...(not live as I'm still testing out my long term holding approach based off the mtf ema's guiding the trend...)

usd chf +398 nov.4th
nzd usd +486 nov.4th
aud usd +617 nov.4th
usd cad +175 nov.10th
gbp usd +360 nov.10th

all taken with 2% risk and stops between 20 and 35 pips for each...

so thats upwards of 100% in a month between these 5 pairs...geez I really don't have the patience for this and thats the very reason I need to get this figured out so I can have a totally seperate account dedicated to this so I won't even really think about it...just check in once a day or every other day or so and go from there....but I definitely can see some good potential in the long term...
No man is free who is not a master of himself. -P.M.-
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