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$100 trading

  • #41
  • Oct 5, 2012 3:53pm Oct 5, 2012 3:53pm
Quoting broketrader
Well, I have calculated what would happen to this baby using the worst case scenario, based on what happened during summer of 2008.
it can get a lot worse than that - GL
  • #42
  • Oct 5, 2012 3:55pm Oct 5, 2012 3:55pm
Quoting chazzle
it can get a lot worse than that - GL
Oh Yes ? And how ? Please develop...
Simplicity is the Ultimate Sophistication.
  • #43
  • Oct 5, 2012 3:59pm Oct 5, 2012 3:59pm
Quoting Dreamliner
I can PROMISE you you will NOT be sleeping well at night when you are having to add to your account because all the trades are going against you. It will be extremely difficult for you to put more money in an account that is vanishing.

But that's just me, maybe you're made up entirely different than I am.

I used a strategy nearly identical to this one on the AUD/USD when it hit 1.06 earlier this year. I added postions all the way down to 0.98 where it reversed. I slept extremely well during this time as the carry accumulated in my account. This ended up being a fantastically profitable trade. Remember that this strategy goes against all that retail traders hold to be true and that 95% of retail traders lose money trading Forex. That alone is food for thought.
Chance favors the prepared
  • #44
  • Oct 5, 2012 4:06pm Oct 5, 2012 4:06pm
Quoting JohnW
I used a strategy nearly identical to this one on the AUD/USD when it hit 1.06 earlier this year. I added postions all the way down to 0.98 where it reversed. I slept extremely well during this time as the carry accumulated in my account. This ended up being a fantastically profitable trade. Remember that this strategy goes against all that retail traders hold to be true and that 95% of retail traders lose money trading Forex. That alone is food for thought.
Oh shit! I thought that I was the men, the one that had first this brilliant idea for trading

Congrats John and thanks for posting,
Regards
Simplicity is the Ultimate Sophistication.
  • #45
  • Oct 5, 2012 4:08pm Oct 5, 2012 4:08pm
Quoting broketrader
Oh Yes ? And how ? Please develop...
well , off the top of my head ... there could be another recession and AUD drops 43.3% against JPY or 53% ... or even 63% etc....

do you know for a fact that this won't happen?

different scenarios could bring this about - use your imagination , and not a single one of them would be under your control

Whereas if you place a trade with a sl of 100 pips and a tp of 200 - you know for a fact that you will not lose more than 100 pips.

Why?

Because your risk is the only thing you can control

you have to be able to accept risk in trading - it is hard but it has to be done
  • #46
  • Oct 5, 2012 4:17pm Oct 5, 2012 4:17pm
Quoting chazzle
well , off the top of my head ... there could be another recession and AUD drops 43.3% against JPY or 53% ... or even 63% etc....

do you know for a fact that this won't happen?

different scenarios could bring this about - use your imagination , and not a single one of them would be under your control

Whereas if you place a trade with a sl of 100 pips and a tp of 200 - you know for a fact that you will not lose more than 100 pips.

Why?

Because your risk is the only thing you can control

you have to...
I have to be able to do what suits my trading style and strategy.

But I have also to be able to tell myself that if there is another recession or a war between Japan and Australia I could maybe stop placing orders for a while. I'm not an EA, just a human. Live in that old Europe but still have TV, newspapers, cars, even Internet

Thanks for sharing your thoughs
Regards.
Simplicity is the Ultimate Sophistication.
  • #47
  • Oct 5, 2012 4:27pm Oct 5, 2012 4:27pm
The issue I have is you need a $7000+ account ( okay to handle worst case, say 2K normal ), to trade at $1 per pip is that initially or 10cents and your TP is 15pips was it if I read it right ?? so yeah you'll bank $15 ( or $1.50 )most days, sometimes have 2 - 5 day holds rarely have over this, 5 days to get to +15pips.

If your going to stick your neck out stick it out for 100pips say, $100 with 1 position.

Then say if you have 5 down days and 5 positions so $1 +$2 +$4 +$8 +$16 per pip on each thats $31 per pip, still aim for 100pips over average so gunning for $3100 profit, well $310 I guess as 1/10th the lot size.

Multiple down days have a huge payout got to make the risk worth it IMHO.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #48
  • Oct 5, 2012 5:45pm Oct 5, 2012 5:45pm
Everybody gets what they want out of the markets
A quote from Ed Seykota
  • #49
  • Oct 6, 2012 12:22am Oct 6, 2012 12:22am
Quoting Dreamliner
Do I understand this right, that you start with $100.00 and add over $7300.00 on the way down? Is that correct?
if you trade this system long enough, you`ll always encounter another worst scenario.

so you always will need another reserve of at least $ 7,300 to add to your $ 100 trading account when the ugly times come around.

so any profit made on your tiny $ 100 trading account will have to be expressed as a ROI percentage of $ 7,400.

very unconventional for sure.
  • #50
  • Oct 6, 2012 2:10am Oct 6, 2012 2:10am
I've been trading this system for almost 2 years.

My system is 90% similar to yours. The only difference is that I do not use round numbers but support resistance.

Check how my indicator plots the SR levels http://tradeaud.blogspot.sg/2012/09/...sr-levels.html

An article I wrote on carry trade on audjpy http://tradeaud.blogspot.sg/2012/04/...de-audjpy.html

My broker is Oanda and is giving me interests on the deposit. You might want to consider that and the open position are accumulating per second interest rates.

I trade really small lots and on average monthly returns are 1% to 3% (my deposit can stomach the downtrend to the low price of 55.11)

The good thing about this system is you do not need to stick to the chart
  • #51
  • Oct 6, 2012 4:18am Oct 6, 2012 4:18am
Thanks to share your trading plan with us. I will follow it. I hope, it will offer me some profit.
  • #52
  • Oct 6, 2012 5:46am Oct 6, 2012 5:46am
One question guys....Do you guys know pair would be a good hedging for AUDJPY?
  • #53
  • Oct 6, 2012 8:55am Oct 6, 2012 8:55am
Quoting VODWork
I get on the train ... I like your strategy
This indicator can help
Welcome on board VODWork
For the time being I will not use any indicator/EA

Thanks,
Regards
Simplicity is the Ultimate Sophistication.
  • #54
  • Oct 6, 2012 9:01am Oct 6, 2012 9:01am
Quoting Tarusmark27
Thanks to share your trading plan with us. I will follow it. I hope, it will offer me some profit.
Welcome on board Tarusmark and be careful if you trade it. Remember, that you have to start small.

Regards.
Simplicity is the Ultimate Sophistication.
  • #55
  • Oct 6, 2012 9:05am Oct 6, 2012 9:05am
Quoting PipMaxzz
One question guys....Do you guys know pair would be a good hedging for AUDJPY?
Hi PipMaxzz,
Sorry, I don't know about that. I prefer to not hedge and stay concentrated on this pair. It seems to me but not shure that with hedging you would be losing on the hedge while wining on this, so for me is not a good thing because I want also to take net profits on winning positions. This is not pure carry trade.

Regards.
Simplicity is the Ultimate Sophistication.
  • #56
  • Oct 6, 2012 9:23am Oct 6, 2012 9:23am
Quoting Turveyd
The issue I have is you need a $7000+ account ( okay to handle worst case, say 2K normal ), to trade at $1 per pip is that initially or 10cents and your TP is 15pips was it if I read it right ?? so yeah you'll bank $15 ( or $1.50 )most days, sometimes have 2 - 5 day holds rarely have over this, 5 days to get to +15pips.

If your going to stick your neck out stick it out for 100pips say, $100 with 1 position.

Then say if you have 5 down days and 5 positions so $1 +$2 +$4 +$8 +$16 per pip on each thats $31 per pip, still aim for 100pips over average...
Hi Turveyd,

This just mean that until our account has not grown to 7000+ or 2000+ for normal function we will need to have some money aside just in case.

And what would happen when your account reaches the 7000 level ? It could mean that we could maybe start increasing your positions when taking positions 7 to 10... you get the idea ?

But we are not there yet...

Thanks for posting,
Regards
Simplicity is the Ultimate Sophistication.
  • #57
  • Oct 6, 2012 9:29am Oct 6, 2012 9:29am
Hi broketrader!

Your strategy is similar to "Grid System". I have my own modified grid strategy. The backtest result is amazing. Below are my position's conditions.

Long Position
Only long entry is applied when price trending upside and break through respective fix price. Stop loss is applied with tight distant. And target as well.

Short Posiiton
Same as Long Position but is toward downside.

By the way, Would you mind to post the EA for your system?
  • #58
  • Oct 6, 2012 9:49am Oct 6, 2012 9:49am
Quoting broketrader
Hi PipMaxzz,
Sorry, I don't know about that. ...
Regards.
Thank you!
Your syste mlooks very promosing with a very small size entry. Imagine for $100 you need to keep a backup of say $2000. I dont think you will forever trade 0.1 lots, but you will increase the lot size as you keep making money. When your lot size reaches 1.0, you will need 20K in reserve. Thats a lot....
  • #59
  • Edited 10:20am Oct 6, 2012 9:50am | Edited 10:20am
Quoting yonnie
if you trade this system long enough, you`ll always encounter another worst scenario.

so you always will need another reserve of at least $ 7,300 to add to your $ 100 trading account when the ugly times come around.

so any profit made on your tiny $ 100 trading account will have to be expressed as a ROI percentage of $ 7,400.

very unconventional for sure.
Hi yonnie,

I don't agree with you.

Once that your maximum number of positions are taken, it means that you are living "that" worst case scenario and that you only can wait the end of it. I mean, wait for the trend to reverse and allow you to take the profits on the way back.

Off course you will tell me that we could have one worst case scenario after another meaning that buying at the top of 104 and losing 43% we would be at 59 and then lose again 43% to be at 25. A level which has never been seen.
Then we have to ask ourselves:
1. What is the probability for this to happen ?
2. How much time it would take to happen ?


Also, the worst case scenario could happen tomorrow but it could also happen in 2022 and by that time I could have earned my 7000 or even more.


Thanks for posting.
Regards.
Simplicity is the Ultimate Sophistication.
  • #60
  • Oct 6, 2012 12:58pm Oct 6, 2012 12:58pm
Quoting broketrader
Hi Turveyd,

This just mean that until our account has not grown to 7000+ or 2000+ for normal function we will need to have some money aside just in case.

And what would happen when your account reaches the 7000 level ? It could mean that we could maybe start increasing your positions when taking positions 7 to 10... you get the idea ?

But we are not there yet...

Thanks for posting,
Regards

If you increase your start position size when you have 7000 then you might need 50k in reserve to last through such a move.

Your value is always account + reserve.

I tried to cheat the markets with maths and gave up.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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