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  • #101
  • Jan 3, 2012 11:35pm Jan 3, 2012 11:35pm
Finally today my first trading live day. Waiting for first trade, for now only EUR/USD, 0.1 lot with option 1 for Regular Trades (conservative option), 0.1 lot for Scalping Trades (not allowed less) and 0.4/0.2/0.1 for Counter Trades.

Will post results.
  • #102
  • Jan 4, 2012 12:25am Jan 4, 2012 12:25am
Quote
Finally today my first trading live day. Waiting for first trade, for now only EUR/USD, 0.1 lot with option 1 for Regular Trades (conservative option), 0.1 lot for Scalping Trades (not allowed less) and 0.4/0.2/0.1 for Counter Trades.

Good luck sir, waiting for my first live trades of 2012, pending orders set and ready to go. If you don't mind me asking, what size account are you starting with and which broker are you using?
  • #103
  • Jan 4, 2012 12:31am Jan 4, 2012 12:31am
Quoting mer071898
I'm a little confused, there are no active trades on Gbp/Usd at the moment.

Interseting thread...btw you have left your account number up in the top l/h corner.

Maybe you can delete the chart and remove account # before reinstalling it.
  • #104
  • Jan 4, 2012 12:37am Jan 4, 2012 12:37am
Thank you, fixed and changed. Nobody is getting into it without a password anyhow, but you never know with these creepy nerds with their crazy hacking skills :nerd:.
  • #105
  • Jan 4, 2012 12:42am Jan 4, 2012 12:42am
Quoting mer071898
Good luck sir, waiting for my first live trades of 2012, pending orders set and ready to go. If you don't mind me asking, what size account are you starting with and which broker are you using?
Sure. 10.000.-€, FinFX, ECN PRO Account.......
  • #106
  • Jan 4, 2012 1:40am Jan 4, 2012 1:40am
Quoting mer071898
If you re-read post #2, it states option 3 (C) consists of:

"C) Place multiple trades targeting each individual fib extension, closing the individual trades at each target, moving the stops as we go."

So in essence, you would place 3 Regular trades at the high or low and each trade would target a specific fib extension (123.6, 138.2, and 161.8). ......
Thank you, I was confused (English is not my first) because you told we will use option "B" in the middle but your explanation was on option ''C'' in the pictures, now is okay
  • #107
  • Jan 4, 2012 1:44am Jan 4, 2012 1:44am
Quoting mer071898
First off, you're entitled to your opinion as I always expect people to come on and not agree with anything that is posted, but it's obvious you haven't grasped the overall concept of the strategy. If you've read through the thread, you would've seen that I posted several spreadsheets with trades that "prove" that this is a profitable system. Just the one in post #24 shows a 5.64% increase on the account in only 3 trading days. And not only that, Erebus has come in and posted several screen shot of successful trades he has made using...


Do not waste your time with him . I made manualy back test and this is excellent strategy. He's just speaking a story to us and have no idea about the strategy.
  • #108
  • Jan 4, 2012 1:50am Jan 4, 2012 1:50am
Quoting mer071898
Good luck sir, waiting for my first live trades of 2012, pending orders set and ready to go. If you don't mind me asking, what size account are you starting with and which broker are you using?

Good luck Mer and Caillou with live trades. mer071898 I think you do not have a chance to use a semi martingale because your account is too small for this lot 0.1, You would have at least 10 000 $/€ !? I think You will be in position to trade without a double up on your lot sizes on every single loss.
  • #109
  • Jan 4, 2012 1:54am Jan 4, 2012 1:54am
Quoting newnew
Good luck Mer and Caillou with live trades. mer071898 I think you do not have a chance to use a semi martingale because your account is too small for this lot 0.1, You would have at least 10 000 $/€ !? I think You will be in position to trade without a double up on your lot sizes on every single loss.
Thank you Newnew. Letīs see. I think Mer is trading 0.01 lots for 1.000.-$ so the lot size is correct.......
  • #110
  • Jan 4, 2012 2:13am Jan 4, 2012 2:13am
Hi Mer,

Maybe Iīm wrong but I have seen that you have 4 pending orders: 2 Buy Stop (1 Regular, 1 Scalp, the same as me) but 2 Sell Stop (2 Regular, 0 Scalp). Is this correct? I have 2 Sell Stop, 1 Regular and 1 Scalp.
Donīt you have any Scalp Sell Stop Trade? My TP for the Scalp Sell is 10 pips, my spread is 0.9 so no problem with TP.
I just want to make sure that Iīm understanding your system correctly.

Thank you
  • #111
  • Jan 4, 2012 2:23am Jan 4, 2012 2:23am
Quoting Caillou
Hi Mer,

Maybe Iīm wrong but I have seen that you have 4 pending orders: 2 Buy Stop (1 Regular, 1 Scalp, the same as me) but 2 Sell Stop (2 Regular, 0 Scalp). Is this correct? I have 2 Sell Stop, 1 Regular and 1 Scalp.
Donīt you have any Scalp Sell Stop Trade? My TP for the Scalp Sell is 10 pips, my spread is 0.9 so no problem with TP.
I just want to make sure that Iīm understanding your system correctly.

Thank you
I think you are right, well spotted, if you are not in to much of a rush when filling in the STOP orders, you can put in a comment.

I am only doing Regular trades, but others could write in "Scalp Short" or other relevant details to make it easy to identify closed trades when doing a review.
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  • #112
  • Jan 4, 2012 2:40am Jan 4, 2012 2:40am
Quoting Caillou
Thank you Newnew. Letīs see. I think Mer is trading 0.01 lots for 1.000.-$ so the lot size is correct.......

It can bee, but I think they don't have 0.01 lot, they are ECN. Maybe I am wrong.
Can you tell me what option do you use in your trading:

A) Place a single trade and shoot for the first target at the 123.6 extension.

B) Place a single trade and move the stops at each target level until completed or stopped out.

C) Place multiple trades targeting each individual fib extension, closing the individual trades at each target, moving the stops as we go.


and what about your lots on RT and how big is your lot on CT?

Thank you
  • #113
  • Jan 4, 2012 2:53am Jan 4, 2012 2:53am
Quoting newnew
It can bee, but I think they don't have 0.01 lot, they are ECN. Maybe I am wrong.
Can you tell me what option do you use in your trading:

A) Place a single trade and shoot for the first target at the 123.6 extension.

B) Place a single trade and move the stops at each target level until completed or stopped out.

C) Place multiple trades targeting each individual fib extension, closing the individual trades at each target, moving the stops as we go.


and what about your lots on RT and how big is your lot on CT?

Thank you
Yes, FinFX is an ECN/DMA broker, but as I told Mer a few post ago, I think that only trades with min 0.1 lots will work as ECN, for 0.01 lots (with FinFX you can but you need a Micro Account, min allowed for ECN and ECN PRO account is 0.1) you will be like a market maker or maybe the broker can take several trades 0.01 lots, put all together and then work as ECN......who knows, but a true ECN order is 0.1 lot min.

For now Iīm going to trade option 1 (conservative), 0.1 lot for RT, 0.1 lot for ST and 0.4/0.2/0.1 lot for CT.

Cheers
  • #114
  • Jan 4, 2012 3:38am Jan 4, 2012 3:38am
Quoting Caillou
Yes, FinFX is an ECN/DMA broker, but as I told Mer a few post ago, I think that only trades with min 0.1 lots will work as ECN, for 0.01 lots (with FinFX you can but you need a Micro Account, min allowed for ECN and ECN PRO account is 0.1) you will be like a market maker or maybe the broker can take several trades 0.01 lots, put all together and then work as ECN......who knows, but a true ECN order is 0.1 lot min.

For now Iīm going to trade option 1 (conservative), 0.1 lot for RT, 0.1 lot for ST and 0.4/0.2/0.1 lot for CT.

Cheers
I think you are wrong with 0.1 lot for RT, you would use lot 0.3 because you have for CT 0.4 for example today EURUSD if we have 0.1 it is 34 pips TP, it okay, but if it goes down and take CT 0.4 with SL 34 it will be 34x0.4= 136 USD stop and frist RT will take 34x0,1=34 It is -136+34=-102 USD but if you use 0,3 lot it will be 34x0,3=102 USD profit it means -136+102= -34 We can see that minus is only 34 instead -102
  • #115
  • Jan 4, 2012 3:54am Jan 4, 2012 3:54am
Quoting newnew
I think you are wrong with 0.1 lot for RT, you would use lot 0.3 because you have for CT 0.4 for example today EURUSD if we have 0.1 it is 34 pips TP, it okay, but if it goes down and take CT 0.4 with SL 34 it will be 34x0.4= 136 USD stop and frist RT will take 34x0,1=34 It is -136+34=-102 USD but if you use 0,3 lot it will be 34x0,3=102 USD profit it means -136+102= -34 We can see that minus is only 34 instead -102
It is not possible to have a TP hit for a Regular Trade and then a SL hit for a Counter Trade because a Counter Trade only happens if your Regular Trade is losing.
Of course, you can have a Regular Trade open, then goes down, then a Conter Trade open, then goes up, a SL for CT hit and a TP for RT hit but Iīm only following Merīs advice about lot sizes:

"In order to keep thing simple to start and to protect my starting balance, I will only be trading on the Eur/Usd. I will be trading Option 1 on my Regular trades which is a single trade targeting the 123.6 extension only. I will be using .01 lots to start as a base and we will stay at that base lot size until the account is doubled.

Counter Trend Trades will be placed with base lot sizes of .04, .02, and .01 lots for each CT Trade 1-3."

So 0.1 for RT and 0.4/0.2/0.1 for CT.

Maybe Iīm wrong, letīs wait for Merīs answer......
  • #116
  • Jan 4, 2012 4:15am Jan 4, 2012 4:15am
Quoting newnew
I think you are wrong with 0.1 lot for RT, you would use lot 0.3 because you have for CT 0.4 for example today EURUSD if we have 0.1 it is 34 pips TP, it okay, but if it goes down and take CT 0.4 with SL 34 it will be 34x0.4= 136 USD stop and frist RT will take 34x0,1=34 It is -136+34=-102 USD but if you use 0,3 lot it will be 34x0,3=102 USD profit it means -136+102= -34 We can see that minus is only 34 instead -102
But if we follow one of Merīs post in page 1, we have:


"I will be placing 3 Regular trades (T1, T2, & T3) of 1 lot each targeting each fib extension, moving the stops to the 107 fib extension on the remaining trades once Target 1 is hit. I will start with .1 lots on all Scalp trades targeting the 107 fib extension using a progressive sequence of 1, 2, 5, 13, 34, 89, etc.. on any losses. Since I have 1 lot each in play on my Regular trades, using the 4-2-1 ratio, I will use 4, 2, and 1 lots respectively on the Counter Trend trades (CT1, CT2, & CT3). Pip totals do not include the spread."

If we follow that, you are correct, 0.3 lot for RT, means 0.4/0.2/0.1 lot for CT so for 0.1 lot for RT, means less than 0.4/0.2/0.1 lot for CT, maybe just 0.2/0.1/0.1......

I think we need Merīs opinion....
  • #117
  • Jan 4, 2012 12:45pm Jan 4, 2012 12:45pm
Day 1

Scalp Trades: +10.5 pips * 0.1=+10.5 pips
Regular Trades: floating -6 pips*0.1=-6 pips
Counter Trades: No trades

Tomorrow morning if Regular Trade ends with loss, next Regular Trade will be 0.2 lots.

Since I trade only 0.1 lot RT, I will make only 2 CT (1 and 2) with 0.2 and 0.1 lots.

Cheers
  • #118
  • Jan 4, 2012 1:12pm Jan 4, 2012 1:12pm
Just before my broker rollover time, looks stuck in a range so I didn't miss anything by being away yesterday; got things to today also, so no trading for me until around London Open, if not triggered by then I will be watching, probably the slow down before Non Farm Payroll !!!
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  • #119
  • Jan 4, 2012 2:42pm Jan 4, 2012 2:42pm
Okay guys, re-read post #60 on pg. 4 This explains the way I will be trading my live account.

Quote
Hi Mer,

Maybe Iīm wrong but I have seen that you have 4 pending orders: 2 Buy Stop (1 Regular, 1 Scalp, the same as me) but 2 Sell Stop (2 Regular, 0 Scalp). Is this correct? I have 2 Sell Stop, 1 Regular and 1 Scalp.
Donīt you have any Scalp Sell Stop Trade? My TP for the Scalp Sell is 10 pips, my spread is 0.9 so no problem with TP.
I just want to make sure that Iīm understanding your system correctly.

Thank you
I just forgot to label the scalp trade. I also goofed on the sell stop take profit and closed it manually, sorry for the confusion. Make sure to concentrate on making sure your trades are correct, not mine.

Quote
But if we follow one of Merīs post in page 1, we have:


"I will be placing 3 Regular trades (T1, T2, & T3) of 1 lot each targeting each fib extension, moving the stops to the 107 fib extension on the remaining trades once Target 1 is hit. I will start with .1 lots on all Scalp trades targeting the 107 fib extension using a progressive sequence of 1, 2, 5, 13, 34, 89, etc.. on any losses. Since I have 1 lot each in play on my Regular trades, using the 4-2-1 ratio, I will use 4, 2, and 1 lots respectively on the Counter Trend trades (CT1,...
Post #1 is just an example encompassing the strategy as a whole to include all possible trades. Don't get too wrapped up in doing it exactly as I do. I made some minor changes with the strategy due to the size of my live account. But if we were using multiple trades like the quote above, you would need larger lot sizes for your Counter Trend trades because you'll have 3 times the loss on the Regular trades if you use .3 lots total instead of .1 for just a single trade. Just make sure to keep the 4-2-1 ratio intact when you increase it.

Quote
Yes, FinFX is an ECN/DMA broker, but as I told Mer a few post ago, I think that only trades with min 0.1 lots will work as ECN, for 0.01 lots (with FinFX you can but you need a Micro Account, min allowed for ECN and ECN PRO account is 0.1) you will be like a market maker or maybe the broker can take several trades 0.01 lots, put all together and then work as ECN......who knows, but a true ECN order is 0.1 lot min.

For now Iīm going to trade option 1 (conservative), 0.1 lot for RT, 0.1 lot for ST and 0.4/0.2/0.1 lot for CT.

Cheers
Coming directly from the mouth of FinFX, all accounts are run in an ECN/DMA environment, even the micro accounts.
  • #120
  • Jan 4, 2012 2:58pm Jan 4, 2012 2:58pm
Mer,

So am I right in saying that if 3 one lot trades were put on for the regular trades (option 3) then the counter trend trade lotsizes would be 12 / 6 / 3 lots??

Just like this to be clarified
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