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Pitbull Trader with Position Building

  • #901
  • Feb 17, 2012 8:07am Feb 17, 2012 8:07am
typical responses are typical. sad, really.
Congratulations ScalaFX for coming out of the closet!
  • #902
  • Feb 17, 2012 8:14am Feb 17, 2012 8:14am
Quoting nubcake
typical responses are typical. sad, really.

Same as yours, go back to the lounge and decide with your buddies how else you are going to disrupt this thread.
  • #903
  • Feb 17, 2012 8:34am Feb 17, 2012 8:34am
I have been resisting the calls for blocking ppl...but I know the clear minded ppl will ask why are some ppl try to start a fuss.

Over a method that only a few can trade anyways..

I will start the user administration process today.
some users will not be able to post here as I see they are not friendly.

Even if ones method of trading is flawed why would you want or need to be the one to kill ppls dream.

Give ppl a chance to self-discover and be the one assist and guide ppl in making decisions and you might learn something in the process too about yourself.

so I will block anyone would appears to cynical about the method and try to portray anothers effort and useless.

Happy trading

cheers
  • #904
  • Feb 17, 2012 8:56am Feb 17, 2012 8:56am
Quoting chips
I have been resisting the calls for blocking ppl...but I know the clear minded ppl will ask why are some ppl try to start a fuss.

Over a method that only a few can trade anyways..

I will start the user administration process today.
some users will not be able to post here as I see they are not friendly.

Even if ones method of trading is flawed why would you want or need to be the one to kill ppls dream.

Give ppl a chance to self-discover and be the one assist and guide ppl in making decisions and you might learn something in the process...
Bravo Chips: Firstly for resisting and not knee jerking, and then, giving ppl time to contribute in a constructive way which they ignored and based on that, taking sensible action.

Seconded

CW
  • #905
  • Feb 17, 2012 9:02am Feb 17, 2012 9:02am
...Back to demo again...
Lesson learned..
Back then i used the original pitbull 10 pairs hedge,realised that those pairs are solely meant to be an indicator, not actual, so i separated it from the trading account. Proceed to add samir indicator/ or the other indicator from the other forum.. i liked the daily chart since its slower. I used t101 14pairs setup since i think its better hedged..less dd.
Chips mentions the mistakes that i made since i overtrade since the bottomtrades keep changing pairs so you could have an instant 3 pairs switch which is kinda confusing. Adding a strength meter, playing with candlesticks...bull candle to confirm long, bear candle to confirm shorts i decreased the amount of trades. The profit began to appear...
Later the dd trades began to appear too...what i learned was the dd trades usually go from the bottom trades into higher up ... should have hedged the trades when it get to -50p since thats my max dd preference for individual pairs.
If i did hedged the dd trades earlier,the next 2 - 3 trade could easily wiped out the dd, producing profit. I can say that you can still could use traditional SL, the next trades usually is in profit, provided you confirm the trade..use what ever you want.
Whipsaw market?...again as one trade went sour, others take its place eventually the all of them in profit.
Im still thinking about hedging the dd trades..then reversing it since it has momentum to go..maybe...i still play this conservatively..theres some profit..not spectacular but profit nonetheless.
One thing i should do is to never left the trades more than 5 hours...since there plenty of movement in between, in y previous post i found myself in huge dd since i left it for 10 hours...
Another thing ..some ppl reset the indicator daily,some left the basket for weeks.. i dont know which is better. My indicator is always set to 24 hours back so i dont have to open the basket indicator everyday.
I trade the indicator and the basket separately since 10-14pairs initial trade can eat margin.
Different people have different stroke..so dont get mad if i have strayed far from the original method.. whatever works for me maynot work for somebody else. one thing for sure, the more we trade the more we learn..this thing is different kind of beast than whatever i traded live.
Thanks to chips..since his explanation is better than brijon, and thanks to the guys at stevehopwood thread, since i incorporate some of their ideas into my trading.

Please forget about the negativity posted here in this thread...failure or success we will find out ourselves so we can judge the method later...its too early to summarise the result. Everybody will have their own conclusions.
  • #906
  • Feb 17, 2012 10:36am Feb 17, 2012 10:36am
Quoting superbandam3
...Back to demo again...
Lesson learned..
Back then i used the original pitbull 10 pairs hedge,realised that those pairs are solely meant to be an indicator, not actual, so i separated it from the trading account. Proceed to add samir indicator/ or the other indicator from the other forum.. i liked the daily chart since its slower. I used t101 14pairs setup since i think its better hedged..less dd.
Chips mentions the mistakes that i made since i overtrade since the bottomtrades keep changing pairs so you could have an instant 3 pairs switch...
Superbandam, thanks for your thoughtful post. Let me pose a challenge to you. I think you can do it. Do this on demo only!!! Open your set of trades and trade normal for the day. Leave several .4 or higher trades open for a day or so and dont look at them. Let the trades go into huge drawdown! Then after a day or 2 look at your positions again. Look at the ones in huge dd, then figure out a way to trade out of those bad positions. You will gain so much confidence when you are able to do so. It may take you several days or lnger to do so but dont give up and dont close out the losers, turn them into winners. Go for it!
Marlin
  • #907
  • Feb 17, 2012 11:17am Feb 17, 2012 11:17am
Quoting Marlin Man
Superbandam, thanks for your thoughtful post. Let me pose a challenge to you. I think you can do it. Do this on demo only!!! Open your set of trades and trade normal for the day. Leave several .4 or higher trades open for a day or so and dont look at them. Let the trades go into huge drawdown! Then after a day or 2 look at your positions again. Look at the ones in huge dd, then figure out a way to trade out of those bad positions. You will gain so much confidence when you are able to do so. It may take you several days or lnger to do so...

Nice reply Marlin to an open and interesting post from superbandam. You're right, as Chips says its all down to opening the mind and practice...

Really good one.


Closing out now and for a relatively flat day I posted + 3.63
So for the week +8.70. My basket is in DD at 4% so I am leaving it open.

Have a G8 weekend all.
CW
  • #908
  • Feb 17, 2012 11:44am Feb 17, 2012 11:44am
Quoting courtneywild
Nice reply Marlin to an open and interesting post from superbandam. You're right, as Chips says its all down to opening the mind and practice...

Really good one.


Closing out now and for a relatively flat day I posted + 3.63
So for the week +8.70. My basket is in DD at 4% so I am leaving it open.

Have a G8 weekend all.
CW
Excellent trading.

Have a good weekend.
  • #909
  • Feb 17, 2012 12:26pm Feb 17, 2012 12:26pm
Done for the week too. Closed my basket yesterday. No trades for me today.

Up 12% this week. Thanks to all of you guys :-)
Attached Image (click to enlarge)
Click to Enlarge Name: basket.JPG Size: 110 KB
  • #910
  • Feb 17, 2012 12:49pm Feb 17, 2012 12:49pm
Good job CW & Tex. Have a nice weekend!
Marlin
  • #911
  • Feb 17, 2012 1:36pm Feb 17, 2012 1:36pm
Quoting tex
Done for the week too. Closed my basket yesterday. No trades for me today.

Up 12% this week. Thanks to all of you guys :-)
Tex,

What template you use? Can you share it?
Follow me to the Promised Land
  • #912
  • Feb 17, 2012 2:19pm Feb 17, 2012 2:19pm
Sure, here you go :

http://www.stevehopwoodforex.com/php...p?p=7971#p7971


Quoting xlitang
Tex,

What template you use? Can you share it?
  • #913
  • Feb 18, 2012 11:17am Feb 18, 2012 11:17am
Doesn't looked hedged to me

- there has to be a better mix
Attached Image (click to enlarge)
Click to Enlarge Name: bad hedge.jpg Size: 192 KB
  • #914
  • Feb 18, 2012 11:53am Feb 18, 2012 11:53am
Quoting bgbearnavy
Doesn't looked hedged to me

- there has to be a better mix
Have you read the thread?

In the mean time leave the the hedge on and see what happens, assuming thats on demo otherwise lotsize to big for hedge, its only used as an indicator.
  • #915
  • Feb 19, 2012 2:18am Feb 19, 2012 2:18am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting bgbearnavy
Doesn't looked hedged to me

- there has to be a better mix
it's not hedged, never meant to be - it's a market strength meter

but it should be used with 0.01 lots and the movement of varying pairs allows it to move in and out of profit short term, even if some pairs seems to be a long way in DD others are in profit.

the key to this process is the control of DD
  • #916
  • Feb 20, 2012 4:16am Feb 20, 2012 4:16am
Quoting Marlin Man
Superbandam, thanks for your thoughtful post. Let me pose a challenge to you. I think you can do it. Do this on demo only!!! Open your set of trades and trade normal for the day. Leave several .4 or higher trades open for a day or so and dont look at them. Let the trades go into huge drawdown! Then after a day or 2 look at your positions again. Look at the ones in huge dd, then figure out a way to trade out of those bad positions. You will gain so much confidence when you are able to do so. It may take you several days or lnger to do so...
Thanks for those kind words Marlin, appreciated it.Looks like this method is growing on me week by week. Last week i got some substantial dd but hedged it , and putting on additional dd , finally went to break even. More profit could be made it if i hedged it sooner since i left the the dd trade without hedging.
I plan to do your challenge since i had 5 to 6 heavy dd trades from the previous demo account. Lets see...
Thanks to all and have a happy trading week!
  • #917
  • Feb 20, 2012 6:29am Feb 20, 2012 6:29am
Quoting superbandam3
Thanks for those kind words Marlin, appreciated it.Looks like this method is growing on me week by week. Last week i got some substantial dd but hedged it , and putting on additional dd , finally went to break even. More profit could be made it if i hedged it sooner since i left the the dd trade without hedging.
I plan to do your challenge since i had 5 to 6 heavy dd trades from the previous demo account. Lets see...
Thanks to all and have a happy trading week!
Superbandam, right now I am also in substantial dd and am working my way out of it. It's actually challenging / fun. The way the market is moving currently, it's not hard getting into dd. haha. Good luck & many green pips!
Marlin
  • #918
  • Feb 20, 2012 6:56am Feb 20, 2012 6:56am
Quoting chips

I have a system that gives 100% accuracy on entries
Quoting chips

I dont use stop loss

DD LIMIT IS 15% OF ACCOUNT BAL

Oh boy, another crazy train-wreck-waiting-to-happen system!

Quick question though, if you've got a "system that gives 100% accuracy on entries" then why do you need a drawdown limit


Quoting chips

God Bless
God, a hope, and a prayer, yep that ought to do it......better watch out for this guy though
  • #919
  • Edited 9:54am Feb 20, 2012 9:37am | Edited 9:54am
Quoting pipmutt
Oh boy, another crazy train-wreck-waiting-to-happen system!

Quick question though, if you've got a "system that gives 100% accuracy on entries" then why do you need a drawdown limit




God, a hope, and a prayer, yep that ought to do it......better watch out for this guy though
some ppl read and see things negatively...they only look and walk around with their heads in the ground.

Now..if you demo the system you will realize that printing money in the forex is easy ..ANYONE CAN PRINT MONEY...ItsS 100% accurate...using the pitbull" it's that easy...


BUT Trading is 95% controlling DD...

If you demo the system you will realize that anyone can print money..and its 100% accurate.. using the pitbul indicator. following the strongest currency..using momentum .but Controlling the DD is 95% Trading....

God bless all those who attempt to discredit...and denounce without honestly dropping their BIAS and Demo with clear mind...

Maybe my explanation is not up to standard...but I try to do my best....

What's the difference..with technical Analaysis....you wait for that PB to formed at your round number and confluence...momemtum takes you there...and momentum will break it...you use you stops and pray....the market doesn't take you out....and if it does you sit and rationalize..that you only risk 2% of your account bal..anyways.....

Or you can keep printing money because its easy todo...and use to market cycles to control your DD and using techqiues to zero out losses....

using the brokers spread.....

The difference is you are controlling your DD...it's not up to the Broker...to take your stops...

BUT there is not WRONG OR RIGHT WAY TO TRADE...OR else FF would not HAVE SO MANY METHODS HERE..

DEMO and practice and you will see....market cycles..in all time frame....

Cheers...
  • #920
  • Feb 20, 2012 9:39am Feb 20, 2012 9:39am
Quoting pipmutt
Oh boy, another crazy train-wreck-waiting-to-happen system!

Quick question though, if you've got a "system that gives 100% accuracy on entries" then why do you need a drawdown limit




God, a hope, and a prayer, yep that ought to do it......better watch out for this guy though

Another one. Perhaps read the thread.
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