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Pit bull trading strategy by brijon

  • #701
  • Nov 22, 2011 8:22pm Nov 22, 2011 8:22pm
Hi
In the last post I said 3 days before a new float where in fact it should read 5 days
Regards
  • #702
  • Nov 22, 2011 10:02pm Nov 22, 2011 10:02pm
Thank you Brian,



Quoting brijon
just shows realy listening to me or watching my videos one needs a clear mind and focus

you realy are smarter than the average bear
one needs to focused and have a clear mind

some people have this ability

some will never get it

IM IMPRESSED

GOD BLESS FROM BRIAN
  • #703
  • Nov 22, 2011 11:30pm Nov 22, 2011 11:30pm
http://www.youtube.com/watch?v=huXjSfuUh9A
  • #704
  • Nov 23, 2011 1:36am Nov 23, 2011 1:36am
Yes Brian
I get the square now. You are saying use other people money. Thanks
  • #705
  • Nov 23, 2011 1:45am Nov 23, 2011 1:45am
Hi Brian

I was looking to revisit the learn to trade with video thread. Have you taken it down? Yes please I would like to view it
  • #706
  • Nov 23, 2011 2:02am Nov 23, 2011 2:02am
http://www.forexfactory.com/showthread.php?t=326806
  • #707
  • Nov 23, 2011 6:05am Nov 23, 2011 6:05am
YES, Brian
Great Stuff
I now understand rollover,
Get one back at the Banksters.
Max Keiser, Buy Silver, Get the physical.
If you can't hold it you don't own it. ie MF Global
  • #708
  • Edited 7:28am Nov 23, 2011 6:49am | Edited 7:28am
May I just request to fellow traders who are demoing/trading Brian's Pit Bull strategy to make a journal/post with their trades and the approach they made to tackle DD (while closing at the same time profitable trades). I would appreciate very much if they could include any MA indicator employed to guide them when to enter a hedge/counter trade. If we could only come up with a common indicator as simple as possible would be much better. Inmy case I I have set up a live account and started at 0.01 lot making H1 Time frame as my monitoring home time frame, occasionally moving to lower time frame watching support and resistance. I also employ HAS to warm me when trend is ending. My struggle is timing when to enter my add on trade (0.03), because price often moved in the opposite direction immediately after replacing my 123 profitable trades. Contemplating to place orders instead at M15 TF above /below S/R.

God Bless,

Edd
  • #709
  • Nov 23, 2011 6:56am Nov 23, 2011 6:56am
Great thread Brian! I am will be practicing and learning to control DD.
PIP'N
  • #710
  • Edited 9:14am Nov 23, 2011 9:02am | Edited 9:14am
Quoting geanies101
Hi everyone at the Forex factory and especialy Brijon
Brand new trader here.
have been looking into forex for the past 6 months and I have never placed a live trade in my life.
Having stumbled across this thread I have spent the last few days reading and I am totally facinated by the logic of it.
Please dont flame me or give me a hard time for being new,All you here were in my position at some point,so dont be sharpening your horns on me.
am happy to plunge right in

Hi,

Let me take a stab at a rough answer, firstly I would say .01 for 1000 is too much exposure you'll blow up quicker and not give yourself enough time to understand why.

Start with .001 and then work to the same principles, if you can manage DD on .001 then you can manage drawn down on .01 - The only difference is you'll get more room for errors on .001 and probably learn a lot more in the process.

also in terms of your basket, don't think you need to close it after x amount of days etc - it can stay open for as long as you like.

I'll give you my example - I started with 2000 - Today I made 32 so currently im sitting at 2032 and my DD is 20.

So really my account is up 12 if I liquidate my DD and close out.

Its ok to do this! you still made 12 for the day.

It's also ok to keep your hedge running for 75 days if you stay within the 10%DD targets that Brian sets as a safety net. When you get to 10%DD stop trading, think of that as a time to say , right ok hands off for now until things settle back down.

They might NOT settle down that's the kicker, if it goes bust rinse and repeat until you get better and better and better.

Start with smaller lots give yourself more room to breathe.

Most importantly have fun and learn from your mistakes.

Oh yeah and if you find anything that's game changing for god sake let us all know!!!!

peace

One more thing - I'm still a Turkey at this Game! and Blown Up Many Many Demo Accounts.
  • #711
  • Nov 23, 2011 9:45am Nov 23, 2011 9:45am
Quoting morgb74
Hi,

Let me take a stab at a rough answer, firstly I would say .01 for 1000 is too much exposure you'll blow up quicker and not give yourself enough time to understand why...
I agree totally with you. Average retail Forex trader is very over leveraged and they also have a very unrealistic expectation of returns. They only time I started making any money in Forex was when I decided that I would be happy with around 50% return per annum. Professional traders would say that is way too high still. Bearing in mind that hedge funds and other professionally managed Forex funds had a return of around 30%, they have a point.

My advice to anyone who is starting out is to open a nano account (i.e. minimum trade of 1 cent per pip) with a capital of $500. when they have TWO successive profitable years then consider having a larger account of thousands of dollars.

Lets not forget the TRADER PSYCHOLOGY. For instance if you have a $1000 account and you are deep in DD you would act very differently to when you have a $100,000 account and deep in DD. With the $1K account losing it does not affect you that much but with a $100K then you start thinking about your mortgage, kids college money and or pension so you would act in totally different way. The only way to combat that is by gradual increase of the account size (e.g. start with $500 after couple of years of profit, increase to $5000 after a year of profit increase to $10,000, then $20,000 and so on). This way your mind gets used to the higher sums gradually and you ensure that by the time you are using very large amounts there is a good number of years of experience under your belt. This is the ideal scenario but as we know everyone wants to become rich over night!

Kind Regards

Y
  • #712
  • Nov 23, 2011 11:32am Nov 23, 2011 11:32am
Quoting astral77
I agree totally with you. Average retail Forex trader is very over leveraged and they also have a very unrealistic expectation of returns. They only time I started making any money in Forex was when I decided that I would be happy with around 50% return per annum. Professional traders would say that is way too high still. Bearing in mind that hedge funds and other professionally managed Forex funds had a return of around 30%, they have a point.

My advice to anyone who is starting out is to open a nano account (i.e. minimum trade of 1 cent per...

Totally agree. I set the basket at 0.01 on a 5k demo. That gives me a max DD of 500. at 0.01 there is enough room. However be careful of leveraging up. I have learnt leveraging up from 0.01 to 0.05 is enough. I did a few at 1.00 and wooooo don't go there. Its best to place more at 0.05. Also DD if a pair at the top goes too far in dd I hedge it with the opposite, but not convinced about this yet. I think it best to focus on the bottom slot. Adding small lots 0.05 and taking profits at +15 or more when the baskets starts to mix up.

I don’t look at charts at all, not one. Because I did try it but noticed I slipped straight back into my old thinking of watching candles and trying to predict the market rather than thinking like a business and looking at sales, profit (balance) and working overdraft (DD).
Every business owner I coach has these three common denominators. Sales, Balance sheet Overdraft. It’s a completely different way of thinking adopting this approach to trading rather than chart gazing and predicting.

YES

Thats me done for now.
  • #713
  • Nov 23, 2011 11:38am Nov 23, 2011 11:38am
Quoting courtneywild
Also DD if a pair at the top goes too far in dd I hedge it with the opposite, but not convinced about this yet. I think it best to focus on the bottom slot.
Brian what's your take on hedging same currency that starts to run ? is it viable for the folks in EU that can hedge or would you recommend not to do it.

It's something I've been looking at but not really committed to it as yet.

BTW my basket is sitting at 8%DD with very poor sales today, I have that sinking feeling but gonna persevere see where it ends up.
  • #714
  • Nov 23, 2011 12:18pm Nov 23, 2011 12:18pm
There should not be that many questions, confused minds, or blames in the first place.

1. Brijon's system seems same thing as T101 (to me). Just T101's 14 pairs are fully hedged currency meter, a trader need NOT to worry the currency meter's DD. But brijon's currency meter is like Short 0.05 UsdJpy, and Long 0.01 EurGbp. If a newbie trader doesn't understand it, no wonder he/she will cry for solutions for DD.

2. Brijon states "DD control is the key". Many ask "How?". then Brijon made many videos. Brijon, you don't need to do that! You just link you demo or live account to mt4i.com, or myfxbook.com. Everyone can see "How you control DD" easily! If you really want to EFFICIENTLY help and teach, mt4i.com/myfxbook.com seems a better solution. and a few readers have already requested that. It only takes you 1 minute to register and publish.

3. Even "How to control DD" might be difficult to communicate, there should NOT be confusion in the "currency meter operation". But I do see ILLOGICAL operations without explanation. a couple of examples:

a> why close 0.01 of the leading pair, and reopen 0.03 of that?
why not just keep 0.01 open, and also open 0.03? if you expect 0.03 will win, then that 0.01 will win too, isn't that ILLOGICAL to close 0.01?

b> after closing 0.03 for profit, why add that previously-closed 0.01 back?
why not close-all and reopen the whole currency meter? if NOT doing so, the currency meter is displaying outdated ranking in fact. It is ILLOGICAL to use that ranking to enter.

My disclaimer is that I don't need this method to earn money, and I don't earn money criticising it too. I just feel many readers' attention and energy are shamefully wasted in such an ill-organized manner. Brijon could have taught and shared his method in a much more efficient way.

As a sane and objective trader, please don't claim it is 100% money printing or anyone can do it, since you then state that right now it is NOT good to trade LIVE. (then when will this "NOW" be over?)

At the end of the day, you always need to look at the chart and determine if it is going UP or DOWN. Whoever doesn't realise this will ultimately fail.

For whoever has made money these few days, please check UsdJpy chart. U.S government has controlled UJ price almost fixed for the past few months(including these few days). That is the reason why this currency meter has not wipped out your account. Remember, it is shorting 0.05 USDJPY (if on 0.01 lot).
  • #715
  • Nov 23, 2011 12:58pm Nov 23, 2011 12:58pm
Quoting charvo

a> why close 0.01 of the leading pair, and reopen 0.03 of that?
why not just keep 0.01 open, and also open 0.03? if you expect 0.03 will win, then that 0.01 will win too, isn't that ILLOGICAL to close 0.01?

b> after closing 0.03 for profit, why add that previously-closed 0.01 back?
why not close-all and reopen the whole currency meter? if NOT doing so, the currency meter is displaying outdated ranking in fact. It is ILLOGICAL to use that ranking to enter.
I tend to agree with you on point (a), surely, unless you pyramid into the trend/momentum, you cant really reduce drawdown. By simply closing a winning trade you end up adding x to your PnL and increasing the open drawdown by the same amount. Psychologically its comforting to bank a win, but its not particularly effective (It works if you get the trend bias right)

After demo trading this today, I'm now totally confused regarding point (b). Originally I thought that dynamically updating the ranking would be beneficial, now I'm not so sure. I'm missing something somewhere :-)
  • #716
  • Nov 23, 2011 2:20pm Nov 23, 2011 2:20pm
people are driven by different motives some in all honesty are thinking they are helping , some are working for others simple doing there job ,

even if its working for crims

but for us its a battle to give others information to em power them
with knowledge they can use for free


i think in these economic times one should help otheres any way all the info is free i didnt invent it im just giving what ive learnt from others over 35 years nothing else


the video libary is just putting it in one place for all to benifit


SOME TRADERS WILL MAKE A LITERAL FORTUNE TRADING MY METHOD OTHERS WONT ITS NOT MY FAULT

ITS A FACT OF LIFE

as an example one of my old trainees made over 300% profit this week virtualy printing money and containing drawdown


hes going to i think publish his screen snap shots on here maybe

when he
has time

I TRY TO KEEP SAYING DEMO DEMO

but of course some wont listen its not my fault is it?

but its not surprising some traders are reluctant to show on here the crims have that effect

its human nature we tend to be afraid of offending even crims who blantantly rob us

even when someone points it out its difficult for some to see it

i watched a tv show lonlly hart scam mers even when they exposed the crims some of there victums still loved them

incredible but true , same thing on even here


a sick world we live world we live in sometimes

al we can hope that an honest man can survive on internet today especially threads

god bless you from BRIAN Y









Quoting astral77
Hi Brian

CHARVO`S post shows why I do not like to start a thread. Anyone with a bit of common sense would notice that you have said more than a Thousand times. DEMO, DEMO, DEMO, till you get it. If you do not get it either DEMO some more or forget about it (nothing wrong in not getting it and forgetting about it, there is no SHAME.

[b]What I strongly object to is people coming in a thread and telling the thread master you must do this or that. Why should you? Videos are the best media to teach and for people like...
  • #717
  • Nov 23, 2011 3:16pm Nov 23, 2011 3:16pm
Quoting acostafulano
Hi Russell.

Would you please share a link to where can I find the 3BAR EA? I was tracking your myfxbook alpari demo before. Why did alpari shut it down?

Best regards from Peru

Diego
here ya go
Y
Attached File(s)
File Type: zip INDICATERSTHREE.zip   37 KB | 587 downloads
The Only Constant Is Change!
  • #718
  • Nov 23, 2011 3:49pm Nov 23, 2011 3:49pm
Quoting JazzmanQ2
here ya go
Y
Thanks! But are those indicators? I found this mql EA, I don't know if this is the one russell refers to as "3 BAR EA" or this is something different.
Attached File(s)
File Type: mq4 3 Bar Reversal.mq4   9 KB | 425 downloads
  • #719
  • Nov 23, 2011 3:51pm Nov 23, 2011 3:51pm
im trying to resist talking on this subject as our usa traders are under an enourmous disadvantage to us in Australia and Europe

usa traders now have the most unfair system in the world for trading the forex now

its there massive options loyby group , it seems to me that loby groups control USA NOT THE PEOPLE

THE CRIMS RULE THIS WORLD


but later ill do a video exclusivly on same currency hedging , i use to use it using the 10 pip circle a trading method of mine till the bk stoped me
and virtualy from that day forth you can no longer do it with them


so to say the least it can be extremly profitable method of controlling drawdown and printing money


BUT IT INVOLVES KNOWING THE CENTRE OF THE TRENDAND THE HH LL

ITS A VERY INTENTSE FORM OF 24/7 TRADING NEEDING HIGH SKILLL LEVELS

when i was younger slightly i had more motivation ,I enjoyed the adrellian rush and this method certainly provided that

its a bit like being on the ff thread now but astrals right i must slow down

im not as younge as i was then


SO IN MY OWN GOOD TIME ILL DO A VIDEO ON THIS FORM OF TRADING
MY APPOLAGIES TO MY DEAR USA FRIENDS


I DONT WANT YOU MIGRATING TO AUSTRALIA OR EUROPE WE HAVE ENOUGH ILLEGAL MIGRANTS TO COPE WITH


did you guys know yesterday they said there are more illigal imagrants here comming in as tourist and staying than boat people


the biggest group were from UK and America


WOW I WONDER WHY we are thinking of living in europe in one of our apartments BUT

its too expensive now in Australia


must be more crims here ha ha

ok must go my wife has said im retired why am i on the computer so much

do i need this hassel on the ff


hmm

bye for now

god bless from BRIAN
  • #720
  • Nov 23, 2011 4:37pm Nov 23, 2011 4:37pm
Quoting brijon
im trying to resist talking on this subject as our usa traders are under an enourmous disadvantage to us in Australia and Europe

usa traders now have the most unfair system in the world for trading the forex now

its there massive options loyby group , it seems to me that loby groups control USA NOT THE PEOPLE

THE CRIMS RULE THIS WORLD


but later ill do a video exclusivly on same currency hedging , i use to use it using the 10 pip circle a trading method of mine till the bk stoped me
and virtualy from that day forth you...
As always Brian we value your experiance and input's and remember this mate, this is your free time not a job!

so when its getting like a job and the crazies are out giving you grief just take a few days away from here and chill.

Nothing is more important than your own free time, the FF will always be here in a few days.

peace my friend
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