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Pitbull Trader with Position Building

CW wrote :

Quote
I find that if the samir top pairs are +90 or above (Example today I made good trades on the EURUS (buys) and the samir is right up at 150+) I find they tend to produce good profit as momentum is strong if over 90 thats my way of using it.



Bonjour Courtney,

1) Did you speak about the currencies strength meter or the SAMIR-UNIVERSAL daily/weekly PITBULL ?

2) If I may, how did you handle the LONG AUDUSD, GBPUSD, EURUSD yesterday because of the pulback with a big DD.

3) Do you wait that two of the bottom pairs (the strongest profit) moved 20 pips at least before entering the trade ?

Merci de ton attention,

Happy and fun trading all,

Quoting Angel65
CW wrote :





Bonjour Courtney,

1) Did you speak about the currencies strength meter or the SAMIR-UNIVERSAL daily/weekly PITBULL ?

2) If I may, how did you handle the LONG AUDUSD, GBPUSD, EURUSD yesterday because of the pulback with a big DD.

3) Do you wait that two of the bottom pairs (the strongest profit) moved 20 pips at least before entering the trade ?

Merci de ton attention,

Happy and fun trading all,

I use samir on demo with 50 eur micro acc for 2 days now and guess what.Samir is not good for day trading or london ,new york sessions,but for AU,Japan sessions. The result see it yourself.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Samir 1.jpg Size: 166 KB
Click to Enlarge Name: Samir 2.jpg Size: 260 KB
Trade with 60
Look at the drawdown % its very good.I trade while i'm sleeping and i think thats not bad for non managed trades
Attached Image (click to enlarge)
Click to Enlarge Name: samir 3.jpg Size: 122 KB
Trade with 60
http://www.forexfactory.com/attachme...1&d=1328773745

Hello Kumetto
Could you tell me where we can find all the indicators are on the screen as you use them to trade.

Thank you.
Hi Chips,
I would like to know how many pips do you consider for to hegde a bad position no matter what is the size lot??? 50-100-200 pips????

have a nice day
Quoting courtneywild
Posted this on the original thread which is now defunct. Made two slight amends to original for clarity. Thought it may help.

How I use this method.

 

  1. I open 10 basket at 0.01

  1. Wait min 1 hour

  1. Trade only bottom two places. Hedge if trade enters settled DD.

  1. First trade placed at 0.05 or 0.10
  2. If move into stready profit enter another trade at 0.50.
  3. Stop set at 200 for disaster protection only.

  1. If a trade (.05 or .50) enters drawdown I close it at -$200 or hedge.

[list][*]I...

Hi may I ask what size account you have? trying to establish how big the trades should be compared to total equity
Liberty, I consider a hedge trade at around 100 pimps and manage that hedge trade very carefully. If hedge trade goes into profit I will set at stop at break even. If the original trade appears to be going back in my favor, I will then open an additional trade in that direction, some may call this a martingale, I call it trading my way out of a bad position, and I am always quick to set my stop on this trade also. It's not rocket science, it just takes practice and patience. These methods of dd control have worked very well for me. Good luck.
Quoting lillelise
chips so you mean that a video of real trading..wont be any help if i understand you correct ???

i bet a lot of your followers...would realy like a video or more...to get the understanding....

today its very easy to record your screen...its completly free..it dont slow down your pc or anything ( it run in the background ).....if you like i will even send you a link for the software...


Hi Lillelise

Is it half term already, the schools around here dont close until Friday, perhaps yours are different.

Anyway, as you are off over the following week would you be so kind as to place a video on this thread demonstrating your method of trading, that way Chips or Courtney would be able to see the format that you are using and can prepare a video for you as and when they get the chance.

Perhaps you would invite your mate Nubcake to, or maybe another one of the local thread destroyers to participate, wait......

Oops, must go, I feel a disturbance in the force..., yep, time to to take profit.

M.

P.s Would you use camtasia, excellent quality.
Hi Marlin man, may be I don't understand well: if I put an hedge at around 100 pips eg. I freeze my LOSS with an opposite trade (if a buy I put a sell with same lot size) can you tell me how this hedge can to be positive in the future...a loss is a loss, but at this time ,I am agree with you to add more trade ( in the good direction I hope..) and when you gain the same money of that hedge, you close the hedge AND the trade that you took for recuperation.

at this time, you had protected your fund.

have a nice day
Sorry guys IT down since early in week and currently operating in "safe mode" which is "weird" so no trading.... hopefully back up later ready for Monday... now I will go and respond to posts...
Cheers again.
Quoting Angel65
CW wrote :





Bonjour Courtney,

1) Did you speak about the currencies strength meter or the SAMIR-UNIVERSAL daily/weekly PITBULL ?

2) If I may, how did you handle the LONG AUDUSD, GBPUSD, EURUSD yesterday because of the pulback with a big DD.

3) Do you wait that two of the bottom pairs (the strongest profit) moved 20 pips at least before entering the trade ?

Merci de ton attention,

Happy and fun trading all,

Angle

I mean SAMIR-UNIVERSAL daily/weekly PITBULL.. This is my personal method I find helpful but its not used by Jedi Chips.

Sorry I have not been in the market much this week In the meantime if you wish to try samir and we can talk better about it next week when (hopefully) I can get back on track.

I focus on the bottom pair first. I don't look at PIPS I have my platform set to show profit in deposit currency. I am not interested in the PIP count only the profit or loss. I look for the pair being in steady profit around $4 to $5.... if it holds around there or more I trade it plus I like to see Samir indi gaining momentum on that pair. If its low 20 /30 I wait...I find 20 30 may mean reversal... (I repeat - this is my take on things not what Chips would do). Then I may look at second pair if its close behind. If its not, I dont trade it.

au revoir

CW.
Quoting Stumpy1
Hi may I ask what size account you have? trying to establish how big the trades should be compared to total equity

Stumpy.

I use $5000 demos.
Basket I use 0.01 ALWAYS.
Then it depends on market momentum
.04
.05
.10 mostly if momentum is strong, but this is 10x the 0.01 so care.
.40
.50 but not often
1.00 rare.

Then its all about managing DD.

Also I no longer use 200 SL I found as long as I am on top of DD I don't need it.

Cheers

CW
Quoting Marlin Man
Liberty, I consider a hedge trade at around 100 pimps and manage that hedge trade very carefully. If hedge trade goes into profit I will set at stop at break even. If the original trade appears to be going back in my favor, I will then open an additional trade in that direction, some may call this a martingale, I call it trading my way out of a bad position, and I am always quick to set my stop on this trade also. It's not rocket science, it just takes practice and patience. These methods of dd control have worked very well for me. Good luck....
Marlin

Nice DD control re the SL at B/E. I also may consider giving a little to Brk so for a .10 I may close half. Just if pair is running away (but not to often lol)

Intersting post ... :o)

CW
Thx for all the screen tips guys.

As far as the video debate, I was just thinking it would help. I'm not looking for entry exit rules blah blah blah.

Just an exercise of the mind set of one of the vets on this method. Start the video stop it come back next day start again as tweaks are made, make explanations and show a little how its done. Even though we all do it different it would be a good starting point.

I can do a video of how to change the brakes on a Chevy truck and you would learn enough to do your Honda. Some people learn visual.

BJ has almost 200 videos out, we've all seen them and yet most still can't do this successfully.
The video's are all over the place and I think he's drunk. LOL

My idea was simple, was not looking to be spoon fed.
Hello courtney,

Thanks for your reply.

I'm a little bit confused regarding the Samir D/W indicator :

1) What does the digits stand for : profit/losses, pips or strength momentum indication ?

2) How does it compute data ?

I know, always asking questions, but usually I like to use tools that I perfectly understand !

Having said that, because you're making a killing

My best to you,

Bon weekend à tous,


Quoting liberty55
Hi Marlin man, may be I don't understand well: if I put an hedge at around 100 pips eg. I freeze my LOSS with an opposite trade (if a buy I put a sell with same lot size) can you tell me how this hedge can to be positive in the future...a loss is a loss, but at this time ,I am agree with you to add more trade ( in the good direction I hope..) and when you gain the same money of that hedge, you close the hedge AND the trade that you took for recuperation.

at this time, you had protected your fund.

have a nice day
Liberty, I will always make my hedge trade at least 2x the size of position I am hedging. Same way when the trade turns around and close my hedge, I open a larger position at least 1.5x in the same direction as your open position. You will be surprised at how quickly your dd goes away and into $$. Remember, the hedge trades have to be monitored closely. DO NOT let your hedge trade go into dd. Marlin
Quoting courtneywild
Marlin

Nice DD control re the SL at B/E. I also may consider giving a little to Brk so for a .10 I may close half. Just if pair is running away (but not to often lol)

Intersting post ... :o)

CW
Courtney, hope your IT problems are solved soon. Such a pain. With this system I try not to ever close a trade in cumulative loss. Even with the be trades its usually be +5 or so. I never consider giving anything to broker. This suits me better, after all, we are Pitbulls!
Ok, I hope everyone that was in heavy dd, like myself, was able to trade out of it with this latest move. I opened a small micro acct to test this system out. I was easily able to dig myself out of the hole and could have made a lot more $$ had I looked at my computer more. I deliberately did not open my platform for 2 days on this account just to see if I could trade my way out of it. I had a total of 30 position open at once. I was able to close all the trades out in decent profit except for 4. Of the 4, one is .4 lot and the other 3 are .1 lot. I ended up +15% overall on the closed trades and current dd is only $10! This was all done by the examples I previously gave. It was not difficult at all. Make a plan and stick to it. You will gain tremendous confidence once you learn to trade yourself out of a hole! It was like previously stated profit, loss, profit. Give it an honest shot of demo. Have a great weekend!!
Marlin
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Angel65
Hello courtney,

Thanks for your reply.

I'm a little bit confused regarding the Samir D/W indicator :

1) What does the digits stand for : profit/losses, pips or strength momentum indication ?

2) How does it compute data ?

I know, always asking questions, but usually I like to use tools that I perfectly understand !

Having said that, because you're making a killing

My best to you,

Bon weekend à tous,


indicator will reference the most current candle (weekly or daily) for each pair as a starting point, it will then use current price to determine if the pair is in profit or lose based on the candle open price.

from there it will shift the pairs about in the indi to rank them and give you a profit/lose value based on your broker platform data.

if mostly buys are on top and the value is positive then we have a long market - - most pairs are going long as the sells are losing money at the same time as the buys are gaining money - the indi reports long strong (reverse for shorts)

it's pretty much identical to the pitbal basket except it's open time is fixed to candle times, but it also gives you some additional info about total values etc.
Practice DD..think DD control...by Blowing many account...use it as your
practice ground..dont get too excited and rush in take time..find you moment.

The market moves towards and away from prices...

Stop trading or adding positions if you are too close to your MAX DD limit.

Let the market cycles... It make take days...

As I'm managing my live account..I find I have less time to post here.

Way to profit from the market move...

Think of DD as long term carrying line of credit...is not over the short-term you will grow DD out of -VE..unless the cycle is in your favor.

But continue with growth..and manage DD..

Reduction of postions to market exposure...
Trend ration bias
Triple swap run up..

Look ..we know the Avg range of each pairs..say 150 pips..so one could start hedging at that number but..it depends on how much time you have , current dd, position exposure, account size and postion size you are trading.. there is no fix rules really..... see the profit column and review the trades , market movement the CURRENT PRICE NOW..Trending or ranging... be patient..

..Demo and you will see


I still demo and practice DD .. Happy trading..and Demo
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