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9-25% Monthly Enough?

  • #41
  • Dec 25, 2012 7:39am Dec 25, 2012 7:39am
Quoting jmtini
Sounds interesting and really agree with you about the stress. That's why I'm going over to semi-automated trading. I say semi-automated because I don't believe there's any EA one can leave totally to it's own devices.Still have to check in once or twice a day to make sure of the trend- but Robots don't have any emotions and can't get stressed out! I have time and time again realised that I would have closed out a particular trade if I had been trading manually that eventually yielded 50 - 100 pips. It's the "fear factor" that needs to be eliminated,...

Yeah, stress free trading is a must. It's more about trusting what ever system you are trading to come out profitable then anything else. I have a hard time not being stressed when my my SL is always changing with most other systems.
  • #42
  • Dec 25, 2012 7:43am Dec 25, 2012 7:43am
@Cubbybgood

Can you give some tips how you catch the right trend moves?

I mean, the trend could change every time. How do you confirm your trade etc?

Would be interesting to know


Regards
  • #43
  • Dec 25, 2012 7:48am Dec 25, 2012 7:48am
Quoting Jb3
I'm impressed. I would love to hear how to spend 5 minutes and be 95% accurate.

I'm spending hours looking at the chart, and I would be happy with 20% per month.

Would like to hear how it only takes 5 minutes, so you would open a chart before market opens, and then already placed limit orders to trade?
I'm waiting to see how much interest is in this type of trading before I post the system in the Trading Systems area.

I basically use ema's to determine the trend. I use 5 time frames to see where the trend is. Out of the 5 time frames 4 of them have to be in a strong trend in the same direction. If there is no trend on 4 time frames I will wait for a trend to take place or I will just not trade at all. Usually if there is no trade on the EU there is one on the GU.

I use a cool little trick to confirm all my trends with a 3rd party instrument. Very helpful.
  • #44
  • Dec 25, 2012 7:49am Dec 25, 2012 7:49am
Quoting forexmnstr
5 minutes ... taking a leak will take longer


Haha! Yup, some times I do put a trade in when I'm taking a leek.
  • #45
  • Dec 25, 2012 2:21pm Dec 25, 2012 2:21pm
Quoting Cubbybgood
I'm waiting to see how much interest is in this type of trading before I post the system in the Trading Systems area.

I basically use ema's to determine the trend. I use 5 time frames to see where the trend is. Out of the 5 time frames 4 of them have to be in a strong trend in the same direction. If there is no trend on 4 time frames I will wait for a trend to take place or I will just not trade at all. Usually if there is no trade on the EU there is one on the GU.

I use a cool little trick to confirm all my trends with a 3rd party instrument....
Hi Cubby

I followed a few months ago a similar system you posted too. Always interested in your ideas. R:R is nothing alone, important is R:R + Wining Rate so not worried at all with a bad R:R if Wining Rate is enough high.

Please can you share your rules in order to try your method?

Thank you very much.

Cheers
  • #46
  • Dec 25, 2012 4:09pm Dec 25, 2012 4:09pm
Quoting Cubbybgood
I'm waiting to see how much interest is in this type of trading before I post the system in the Trading Systems area.

I basically use ema's to determine the trend. I use 5 time frames to see where the trend is. Out of the 5 time frames 4 of them have to be in a strong trend in the same direction. If there is no trend on 4 time frames I will wait for a trend to take place or I will just not trade at all. Usually if there is no trade on the EU there is one on the GU.

I use a cool little trick to confirm all my trends with a 3rd party instrument....
Chubby,

If you are monitoring 5 time frames and waiting for them to trend in the same direction, wouldn't that take more than 5 minutes? I was envisioning you looking at the charts for 5 minutes, see some pattern, and then place a limit order for 10 pips...and walk away. But what you describe seems like you are going to spend a few hours waiting for an entry.
  • #47
  • Dec 25, 2012 7:46pm Dec 25, 2012 7:46pm
Quoting Jb3
Chubby,

If you are monitoring 5 time frames and waiting for them to trend in the same direction, wouldn't that take more than 5 minutes? I was envisioning you looking at the charts for 5 minutes, see some pattern, and then place a limit order for 10 pips...and walk away. But what you describe seems like you are going to spend a few hours waiting for an entry.
Most days I spend less then 5 minutes. Some days if there is no valid trade I'll come back an hour or 2 later to check to see if the trend has changed. I spend 1 minute each time I check the trend. I never sit there and stare at the charts. Once my trade goes in I shut down my charts for the whole day.
  • #48
  • Dec 25, 2012 9:12pm Dec 25, 2012 9:12pm
You say you're not an expert and you're trading $50,000 of someone else's money? Your friend must be loaded if he's willing to take that risk.
  • #49
  • Dec 26, 2012 12:29am Dec 26, 2012 12:29am
Using a 1:10 reward-to-risk ratio is doable if your win rate is high enough. But if your TP is 10 pips, the spread will take a huge chunk out of your reward. i.e. a 2 pip spread will eat 20% of a 10 pip profit, leaving you with 8 pips. Thus, your reward-to-risk will be more like 1:15, depending on the pair / session you trade.

And 10% risk is very ambitious. You will either be a millionaire in two years, or completely broke.
  • #50
  • Dec 26, 2012 7:05am Dec 26, 2012 7:05am
Quoting Kanzler
You say you're not an expert and you're trading $50,000 of someone else's money? Your friend must be loaded if he's willing to take that risk.
The word "Expert" is thrown all over the place. What does it even mean in the forex world? I see many traders claiming to be experts are just frauds. The only traders I know that are experts are the ones trading for Banks or massive coporate hedgefunds. I'm not trading any of these 2 things yet but I hope some day I will.

My client was willing to be the Guinea pig for this system. He saw a lot of potential in it. He came to me wanting somewhere to put his money. I offered no compensation for trading the account till I supased 25% profit.
  • #51
  • Dec 26, 2012 7:08am Dec 26, 2012 7:08am
For those that are curious.


The account is in profit currently...

Starting balance
$51,626.00

Profit
$10,133.94

Total
$61,759.94
  • #52
  • Dec 26, 2012 7:10am Dec 26, 2012 7:10am
Quoting KingKaivar
Using a 1:10 reward-to-risk ratio is doable if your win rate is high enough. But if your TP is 10 pips, the spread will take a huge chunk out of your reward. i.e. a 2 pip spread will eat 20% of a 10 pip profit, leaving you with 8 pips. Thus, your reward-to-risk will be more like 1:15, depending on the pair / session you trade.

And 10% risk is very ambitious. You will either be a millionaire in two years, or completely broke.
This is a good point you bring up. I will clarify...

I include spread. So my EU trades I look for a total of 12 pips. For my GU trades including spread 13 pips.
  • #53
  • Dec 26, 2012 7:53am Dec 26, 2012 7:53am
Quoting Cubbybgood
For those that are curious.


The account is in profit currently...

Starting balance
$51,626.00

Profit
$10,133.94

Total
$61,759.94

Nice going my friend!

I would like to thank you cause a little small piece from your system made me finalize one of my systems....
  • #54
  • Dec 26, 2012 8:20am Dec 26, 2012 8:20am
Quoting 4xPIPAHOLIC
Nice going my friend!

I would like to thank you cause a little small piece from your system made me finalize one of my systems....
I'm glad to here it!

So many people think this is such an untraditional or gambling way to trade but what they don't realize is it's much easier to bag 10 pips then 50. Just because the system has such a large SL compared to the TP pips does not mean it's a losing system. I here this time and time again with my systems and others here on FF. Traders love to chastise other traders because of this. It's just so strange to me.

Anyway, Glad to here that something clicked. Got to love when that happens.
  • #55
  • Dec 26, 2012 8:33am Dec 26, 2012 8:33am
If anyone is wondering....

Long trade went in on EU at 9:15 EST.

Closed at 9:31 EST. Quick profit today.
  • #56
  • Edited 8:54am Dec 26, 2012 8:41am | Edited 8:54am
Quoting Cubbybgood
If anyone is wondering....

Long trade went in on EU at 9:15 EST.

Closed at 9:31 EST. Quick profit today.
lol....I took that trade too at 8.30(on the round number).....had to wait a little longer....but it is still ok....

Yes last night I could not sleep so I was thinking about this other system that I have that I was missing one little bit to put the puzzle together.....and it clicked...
Let's hope (my system) works through time....
  • #57
  • Dec 26, 2012 8:51am Dec 26, 2012 8:51am
Quoting Cubbybgood
If anyone is wondering....

Long trade went in on EU at 9:15 EST.

Closed at 9:31 EST. Quick profit today.
Hi Cubby

Any chance to have your rules?

Thank you
  • #58
  • Dec 26, 2012 9:11am Dec 26, 2012 9:11am
Quoting Caillou
Hi Cubby

Any chance to have your rules?

Thank you

I've had a few people ask me to post the system.

If I post the system I will only do it in the systems area of FF.

I feel I will get attacked by all the newbies and so called experts because of the TP and SL parameters.

What do you guys think?
  • #59
  • Dec 26, 2012 9:18am Dec 26, 2012 9:18am
Quoting Cubbybgood
I've had a few people ask me to post the system.

If I post the system I will only do it in the systems area of FF.

I feel I will get attacked by all the newbies and so called experts because of the TP and SL parameters.

What do you guys think?
Why don't you post it here? It' s a more quiet place........just my opinion
  • #60
  • Dec 26, 2012 12:16pm Dec 26, 2012 12:16pm
Quoting Cubbybgood
I've had a few people ask me to post the system.

If I post the system I will only do it in the systems area of FF.

I feel I will get attacked by all the newbies and so called experts because of the TP and SL parameters.

What do you guys think?
I think many people are going to assume that your strategy revolves around money management instead of an edge. The response you're most likely to get, justifiably, is that in a random walk there is a positive correlation between risk and number of wins...i.e, the higher your risk (small reward large stop) the more likely you are to win before your stop is hit, but long term expectancy will bring it out even or negative including spread. Without explaining what else you're using to make trade decisions, it's kind of hard to evaluate.

I will say this, however: I've never seen a good system that required anything like this kind of risk, even trend-following type ideas.
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