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  • #6,341
  • Jul 28, 2012 10:08am Jul 28, 2012 10:08am
Quoting Tony112
The best thing is to refund the account on a weekly basis in order to be exposed to an even lower draw-down. Restoring your account to its original status by compensating for a 4% draw-down is even better psychologically
Interesting Tony thank you. What % do you risk per trade? Or if you don't want to answer that question what % would you recommend I risk per trade?
  • #6,342
  • Jul 28, 2012 10:27am Jul 28, 2012 10:27am
Quoting TheMaxx
Interesting Tony thank you. What % do you risk per trade? Or if you don't want to answer that question what % would you recommend I risk per trade?
My current max risk is 0.007 or 0.7% meaning a little less then 1% per trade.

I wound't recommend a larger loss than that per trade... it all depends on your leverage, mine is 1:50
Invest in alarm clocks
  • #6,343
  • Jul 28, 2012 11:05am Jul 28, 2012 11:05am
Quoting Tony112
My current max risk is 0.007 or 0.7% meaning a little less then 1% per trade.

I wound't recommend a larger loss than that per trade... it all depends on your leverage, mine is 1:50
Thanks. My leverage is 1:400 so I'll have to factor that in.
  • #6,344
  • Jul 28, 2012 12:15pm Jul 28, 2012 12:15pm
It's an incomparable feeling to wake up at 8:00 am to place your NY trade on a hundred thousands dollars account and walk away with a floating trade to take a morning drive through downtown MTL or NY city. It's safe to say I'm in a dream come true.
Invest in alarm clocks
  • #6,345
  • Jul 28, 2012 12:22pm Jul 28, 2012 12:22pm
I have to admit I have a tendency to greatly reduce my account with my night spending downtown as well... and always think of myself as a stupid person. Still managing it though. In an other perspective, I keep in mind that my days are counted... days of still looking quite young, so I wanna live for now.
Invest in alarm clocks
  • #6,346
  • Edited 2:28pm Jul 28, 2012 1:27pm | Edited 2:28pm
1 pip == 281 USD ==> 28 Lot/Trade

28 lot *100.000 (1 volume) == 2.800.000 USD
2.800.000 x 1.20 / 50 ( leverage ) = 67.200 USD

%0.7 ==> 67.200 USD
%100 ==> ??

67.200 x 100 / 0.7 = 9.600.000 USD account Balance

correct me if I am wrong.

this does not seem to down too much

walker

PS : Good Luck to your floating trade. Hope its going to be an Epic.

Quoting Tony112
I have to admit I have a tendency to greatly reduce my account with my night spending downtown as well... and always think of myself as a stupid person. Still managing it though. In an other perspective, I keep in mind that my days are counted... days of still looking quite young, so I wanna live for now.
  • #6,347
  • Jul 28, 2012 4:37pm Jul 28, 2012 4:37pm
Quoting stevewalker
1 pip == 281 USD ==> 28 Lot/Trade

28 lot *100.000 (1 volume) == 2.800.000 USD
2.800.000 x 1.20 / 50 ( leverage ) = 67.200 USD

%0.7 ==> 67.200 USD
%100 ==> ??

67.200 x 100 / 0.7 = 9.600.000 USD account Balance

correct me if I am wrong.

this does not seem to down too much

walker



PS : Good Luck to your floating trade. Hope its going to be an Epic.
somethings wrong in the calculations my account is a little over 103k, the one i trade with for the moment
Invest in alarm clocks
  • #6,348
  • Jul 28, 2012 7:20pm Jul 28, 2012 7:20pm
Just a food for thought.

With over a 100k account the trade size is over 20+ contracts.

What if we get to a million dollar account, would it be still be viable? Trading over 200+ contracts at once.
Whether you can or you can't, you are both right.
  • #6,349
  • Jul 28, 2012 9:13pm Jul 28, 2012 9:13pm
Quoting stevewalker
1 pip == 281 USD ==> 28 Lot/Trade

28 lot *100.000 (1 volume) == 2.800.000 USD
2.800.000 x 1.20 / 50 ( leverage ) = 67.200 USD

%0.7 ==> 67.200 USD
%100 ==> ??
III
67.200 x 100 / 0.7 = 9.600.000 USD account Balance

correct me if I am wrong.

this does not seem to down too much

walker

PS : Good Luck to your floating trade. Hope its going to be an Epic.
Allow me...$280 per pip. Sl = 2.3. Risk = 280*2.3=$644 which is 0.64% of 100000
  • #6,350
  • Jul 28, 2012 10:05pm Jul 28, 2012 10:05pm
Quoting fartist
Just a food for thought.

With over a 100k account the trade size is over 20+ contracts.

What if we get to a million dollar account, would it be still be viable? Trading over 200+ contracts at once.
Don't worry about that... there are brokers to handle it and if not, you can use 2 brokers. We'll have other worries when we get to that point, other type of worries.
Invest in alarm clocks
  • #6,351
  • Jul 28, 2012 10:06pm Jul 28, 2012 10:06pm
Quoting deathbait
Allow me...$280 per pip. Sl = 2.3. Risk = 280*2.3=$644 which is 0.64% of 100000
Exactly.
Invest in alarm clocks
  • #6,352
  • Jul 28, 2012 11:15pm Jul 28, 2012 11:15pm
Quoting Tony112
Don't worry about that... there are brokers to handle it and if not, you can use 2 brokers. We'll have other worries when we get to that point, other type of worries.
Worry about how to spend all those $$
Whether you can or you can't, you are both right.
  • #6,353
  • Jul 29, 2012 12:31am Jul 29, 2012 12:31am
There will come the point where u move the market, making you the big player you're trying to game
  • #6,354
  • Jul 29, 2012 2:52am Jul 29, 2012 2:52am
if you calculate risk from SL thats correct. I calculated from used margin.

Tony112 have you ever test 1000 pips. or have ever one of your trades gone 1000 pips evenafter you exit?

walker
Quoting Tony112
Exactly.
  • #6,355
  • Jul 29, 2012 4:32am Jul 29, 2012 4:32am
Quoting stevewalker
if you calculate risk from SL thats correct. I calculated from used margin.

Tony112 have you ever test 1000 pips. or have ever one of your trades gone 1000 pips evenafter you exit?

walker
Any trade taken an year ago in e/u would be more than 1000 pips away from its open price today.
  • #6,356
  • Jul 29, 2012 4:47am Jul 29, 2012 4:47am
Quoting Tony112
I have to admit I have a tendency to greatly reduce my account with my night spending downtown as well... and always think of myself as a stupid person. Still managing it though. In an other perspective, I keep in mind that my days are counted... days of still looking quite young, so I wanna live for now.
I agree - digits on an account balance mean nothing - it's experiences that count. But balance is key too...
  • #6,357
  • Jul 29, 2012 8:42am Jul 29, 2012 8:42am
Tony112

this is really good idea. you use natural selection by the market. like mother nature. strong ones grow weak ones gone.

you may improve entry logic?

walker
  • #6,358
  • Jul 29, 2012 9:00am Jul 29, 2012 9:00am
I had coded a very simple EA
with

15 pip SL
1000 pip TP
Init Balance 1000 USD
Lot 0.1

here is the BT result with 1min EURUSD

2006-today
Attached Image (click to enlarge)
Click to Enlarge Name: StrategyTester2.gif Size: 7 KB
  • #6,359
  • Jul 29, 2012 9:46am Jul 29, 2012 9:46am
Quoting stevewalker
I had coded a very simple EA
with

15 pip SL
1000 pip TP
Init Balance 1000 USD
Lot 0.1

here is the BT result with 1min EURUSD

2006-today
do you mind posting it here?
thanks in advance.
meine augen sind die sterne
  • #6,360
  • Jul 29, 2012 5:46pm Jul 29, 2012 5:46pm
Quoting Beta4x
I agree. However, I am trying a new thing. I closed 1/3 @ +50, 2/3 @ +60, and letting the rest go. Yeah, it may hit 140TP but it also may hit the 0SL. If it does hit 0SL then ive secured way more profit.

I like the way you think. I have seen many trade go positive the turn around hit SL. Tony has established a great way to trade (manage $$) set and forget. No reason you can't set your self up with a little $$ if it goes in the right direction.....

Cheers
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