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1% Trading System

  • #41
  • Jan 21, 2013 4:21am Jan 21, 2013 4:21am
Trade #9 Short for 36 pips.

No Life Wihout Wife
The Thief of Wall Street
  • #42
  • Jan 21, 2013 9:58pm Jan 21, 2013 9:58pm
Quoting Chicky
Trade #9 Short for 36 pips.

No Life Wihout Wife
Lost Trade #9. This was 5th consecutive loss.

The next trade is a buy for 31 pips.
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The Thief of Wall Street
  • #43
  • Jan 22, 2013 3:10am Jan 22, 2013 3:10am
This is the latest position. Seven losers in a row.

The next trade is a buy for 40 pips
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The Thief of Wall Street
  • #44
  • Jan 22, 2013 5:55am Jan 22, 2013 5:55am
Eight losses in a row.

This is the latest situation

Trade #13 running
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The Thief of Wall Street
  • #45
  • Jan 22, 2013 7:59am Jan 22, 2013 7:59am
Quoting Chicky
Eight losses in a row.

This is the latest situation

Trade #13 running
Now nine in a row

Trade #14 running
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The Thief of Wall Street
  • #46
  • Jan 22, 2013 9:12am Jan 22, 2013 9:12am
Quoting Chicky
Now nine in a row

Trade #14 running
Trade #15 will be a short for 30 pips
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  • #47
  • Feb 6, 2013 5:03am Feb 6, 2013 5:03am
Trade 15 entered Short for 30 pips
The Thief of Wall Street
  • #48
  • Feb 6, 2013 5:42am Feb 6, 2013 5:42am
Quoting Chicky
Trade 15 entered Short for 30 pips
trade 15 over
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  • #49
  • Feb 6, 2013 6:33am Feb 6, 2013 6:33am
Trade 16 in play now. Short for 28 pips
The Thief of Wall Street
  • #50
  • Feb 6, 2013 7:58am Feb 6, 2013 7:58am
Quoting Chicky
Trade 16 in play now. Short for 28 pips
Lost #16
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The Thief of Wall Street
  • #51
  • Feb 6, 2013 8:01am Feb 6, 2013 8:01am
Trade 17. Short for 34 pips
The Thief of Wall Street
  • #52
  • Feb 6, 2013 8:37am Feb 6, 2013 8:37am
Quoting Chicky
To keep myself focused on the basic logic of this system, have pre-defined my future trades. Will buy or sell as per the list below. Have even pre-defined my sl and tps for each of the next 40 trades. For example my trade #6 will be a short with a tp of 39 pips and my trade # 29 will also be a short for a profit target of 33 pips. If I generate 21 winning trades, will gain 2%.

[color=#0000ff][color=black]My sl will be 2 pips less than the tp target (in Pips) mentioned in the list below. This is to make sl and tp equal in...
Interesting system but I have a question - if you think you can win 21 out of 40 trades with a 1:1 R:R, how many trades out of 40 do you think you can win with a 1:2 R:R?

You're basically shooting for a 2% return over 40 trades - couldn't you dramatically increase your profitability by increasing your R:R? Or will it affect your win/loss too much?
  • #53
  • Feb 6, 2013 9:12am Feb 6, 2013 9:12am
Quoting TheMaxx
Interesting system but I have a question - if you think you can win 21 out of 40 trades with a 1:1 R:R, how many trades out of 40 do you think you can win with a 1:2 R:R?

You're basically shooting for a 2% return over 40 trades - couldn't you dramatically increase your profitability by increasing your R:R? Or will it affect your win/loss too much?
With 1:2 r:r my chances of success will be less than 30% about 10 or 12 trades in a batch of 40 trades. But I will need to switch the pair from Eur/USD to USD/JPY. Eur/usd is trending pair while USD/JPY makes good bounces.

The point is to manage risk and try consistent application of a method. Look at the downside of 1:2 r:r from risk management point of view. If one can achieve 50% success in a block of every 100 trades at 1:1 r/r, that percentage will go down to 25% with 1:2 r:r. Now at the rate of 1% risk per trade, the maximum drawdown for 1:1 r:r will stay at 50% plus spread, but for 1:2 r:r it could be 75% plus spread. With only 25% remaining in one's account for margin, one will have to trade longer term (more pip tp) for 1% gain or loss. This way, one may lose his/her edge.
The Thief of Wall Street
  • #54
  • Feb 6, 2013 9:18am Feb 6, 2013 9:18am
Thanks for the explanation
  • #55
  • Feb 7, 2013 7:32am Feb 7, 2013 7:32am
Trade 17 lost.

Trade 18 entered. Long for 18 pips
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The Thief of Wall Street
  • #56
  • Feb 7, 2013 7:49am Feb 7, 2013 7:49am
Quoting Chicky
Trade 17 lost.

Trade 18 entered. Long for 18 pips
Lost 18.

Trade 19. Long for 20 pips. 1.1%
The Thief of Wall Street
  • #57
  • Feb 7, 2013 7:54am Feb 7, 2013 7:54am
Quoting Chicky
Lost 18.

Trade 19. Long for 20 pips. 1.1%
Trade 19. Long for 20 pips. 1.1%
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The Thief of Wall Street
  • #58
  • Feb 7, 2013 8:20am Feb 7, 2013 8:20am
Trade 20 in progress

Long for 40 pips
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The Thief of Wall Street
  • #59
  • Feb 8, 2013 5:42am Feb 8, 2013 5:42am
Quoting Chicky
Trade 20 in progress

Long for 40 pips
Lost
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  • #60
  • Feb 8, 2013 6:53am Feb 8, 2013 6:53am
Trade21

Short for 40 pips
The Thief of Wall Street
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