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All Indicators Trading system

  • #1,521
  • Aug 23, 2013 5:44am Aug 23, 2013 5:44am
Quoting tafadzwa02
Whats the best strategy out there that's good at exit?
to close when you're not sure where the price will go. and don't worry if after closing with profit price goes further - you don't have crystal ball to predict movement, and it's better to lock 5 pips in profit than 15 pips in loss
On my way to financial independence - if others can do it - I can do it
  • #1,522
  • Aug 23, 2013 5:45am Aug 23, 2013 5:45am
I am out of here, and switch off the subscription - good luck tafa
this thread takes too much time of my life
On my way to financial independence - if others can do it - I can do it
  • #1,523
  • Aug 23, 2013 5:48am Aug 23, 2013 5:48am
Quoting tafadzwa02
Whats the best strategy out there that's good at exit?
Maybe try exiting 1/2 of position at a smaller profit, move stop to BE with the last 1/2 & let it run for a larger profit.
  • #1,524
  • Aug 23, 2013 6:07am Aug 23, 2013 6:07am
Quoting Eur Usd
I am out of here, and switch off the subscription - good luck tafa this thread takes too much time of my life

.See you soon mate , it's been a pleasure
  • #1,525
  • Aug 23, 2013 6:08am Aug 23, 2013 6:08am
Quoting srt
{quote} Maybe try exiting 1/2 of position at a smaller profit, move stop to BE with the last 1/2 & let it run for a larger profit.
I am trying something like , that .I am gathering stats to see if that works in the long run
  • #1,526
  • Aug 23, 2013 6:53am Aug 23, 2013 6:53am
Quoting tafadzwa02
Whats the best strategy out there that's good at exit?
Try these exit strategy like TP1, TP2 and Trail TP3, move trade to BE immediately TP1 Achieved, this way you can minimize your exposure and maximize your gain.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym5.png Size: 16 KB
  • #1,527
  • Aug 23, 2013 7:27am Aug 23, 2013 7:27am


  • #1,528
  • Aug 23, 2013 7:35am Aug 23, 2013 7:35am
Quoting xtrader101
Some exit strategy you might consider. Breakdown your trades into 2 or 3 trades, in which the total risk would be the same when trading in just one trade. Scale out your winners in different stages, but make the stop of all trades the same. Scale out winners, but make stop fixed.
As suggested before.
Fear prevent possibilities, and so does Greed
  • #1,529
  • Aug 23, 2013 9:09am Aug 23, 2013 9:09am
I have done my stats , I think it's easier to move stop to BE as soon as it moves 30 pips .Since my system sometimes gives 100 pips , sometimes 20 , i can't just lock profits like that .I will try this one from next week and see how it goes .

This thing is very stressful , I honestly don't understand how anyone can do it as a full time job.The stress , stomach aches , chest pains ,too many fake breakouts , quick reversals from nowhere , ridiculous candlesticks , trends when you are not in , no trend when you are in , thinking that this market will move in this way and it doesn't when you trade it , thinking that it will move this way , you trade it and it just reserves suddenly just to hit your stop , and then going in the direction you had initially traded , the list goes on
XTRADER101 , I respect you man
  • #1,530
  • Aug 23, 2013 9:24am Aug 23, 2013 9:24am
If you look at my trade explorer, I scaled my profits at 150 up to 300 pips. there are times that prices reverses right away and my profits evaporate into thin air. I do not mind profits of less than 100 pips evaporates (latest closed trades), but profits of 200 pips annoys me once in a while. That's why i have three different accounts trading the same pair/strategy except for exit. It's either I get stopped out at my stop loss which is updated after the price moved (this could still be in a loss, but lower loss than my initial SL) or I hit the TP.

First account: 100, 150, 200 (Not in explorer)
Second account: 150 for two positions and 200 for the third position (Trade explorer)
Third account: 150, 200, open (Trade explorer)

I based my TP on 5 year statistical data and my system trades at least 60 per month, so a 5 year data gives me sufficient information to base my TPs.

Once you're used to it, you'll sleep well and just chill.

It's already Friday, if you win or lose this trade, close your computer and go for fresh air.
Fear prevent possibilities, and so does Greed
  • #1,531
  • Aug 25, 2013 4:20pm Aug 25, 2013 4:20pm
Master Yoda,

I suggest that you know the expectancy of your system, this way you can have confidence to trade your system to the letter if you know (of course based on historical trades of the system) it has a positive expectancy. My suggestion is at least 1,000 trade data, so it covers different market scenarios. If it has a positive expectancy, go for it for 3 months trading microlots to build confidence. After three months and the system works as what you've expected, go for your usual risk.
Fear prevent possibilities, and so does Greed
  • #1,532
  • Aug 26, 2013 1:05am Aug 26, 2013 1:05am
Quoting xtrader101
Master Yoda, I suggest that you know the expectancy of your system, this way you can have confidence to trade your system to the letter if you know (of course based on historical trades of the system) it has a positive expectancy. My suggestion is at least 1,000 trade data, so it covers different market scenarios. If it has a positive expectancy, go for it for 3 months trading microlots to build confidence. After three months and the system works as what you've expected, go for your usual risk.
I have already done that , if you look at ma weekly statement , you can see how my system is doing s compared to me.I can't follow my system all the time because of work commitments , e.g , I might get a signal and i won't be available to take it and its a winner.I will record this winner .Sometimes I get a signal and I take it , and its a loser , I also record it .At the end if there are 2 signals that week , one winning 50 pips , the other 50 pips , if the one that I would have taken is the loser , then i would have lost 50 pips , but my system would have broken even , if you see what I mean

Nway , enough said .I lost again last week for the 3rd week in a row.I am down to =/- £103 risk .

Happy Trading

Attached File(s)
File Type: xls Actual Vs Projection-Week Commencing 25-08-2013.xls   412 KB | 191 downloads
  • #1,533
  • Aug 26, 2013 1:14am Aug 26, 2013 1:14am
That is why before beginning to design a trading system, you must have a complete inventory of your resources (available funds, time availablity, computer, internet, personality) and from the looks of it, you overlook the time availability to trade, which could significantly impact your trading results. As you have said, there are signals that you were not able to trade due to work which could have resulted in a profit, what if those signals would have been the big winners.

I do not know what to say except to automate your trading if possible or trade a different time frame, what will let you trade all signals that comes up. Since we do not know where the price is going, do not miss a signals because that might just be your biggest winner for the month or even year.
Fear prevent possibilities, and so does Greed
  • #1,534
  • Aug 27, 2013 4:02pm Aug 27, 2013 4:02pm
Is this revenge trading at its best?
Fear prevent possibilities, and so does Greed
  • #1,535
  • Aug 27, 2013 10:46pm Aug 27, 2013 10:46pm
Quoting xtrader101
Is this revenge trading at its best?
Its not revenge trading , its confusion.For some reason , when I reduced my risk , I have this feeling that I can afford to lose more trades as compared to when my risk was higher .I am on a very very bad run and just don't know what's hit me to be honest .I tried to break that £4000 resistance but it looks like my manual intervention didn't work .I won't top up again .I will keep going but will need a number of wins to get my confidence back .My system is letting me down .
  • #1,536
  • Aug 27, 2013 11:57pm Aug 27, 2013 11:57pm
I told you many times - try dance/choros - I bet you know a lot about PA and it helps. signing out - good luck

and try it on demo, as it is something new and no point loosing money to loose it. if you want to try it live than account of 25 pounds will do
On my way to financial independence - if others can do it - I can do it
  • #1,537
  • Aug 28, 2013 12:07am Aug 28, 2013 12:07am
Most new traders will hop from system to system when a particular system does not work for a week or a month. No system will work all the time. Your system i think works just fine, its just your time availability to trade that is deficient as I see it.

Words to ponder, when the going gets rough, reduce position size, but do not miss a signal generated by your system.
Fear prevent possibilities, and so does Greed
  • #1,538
  • Aug 28, 2013 12:55am Aug 28, 2013 12:55am
Quoting xtrader101
Most new traders will hop from system to system when a particular system does not work for a week or a month. No system will work all the time. Your system i think works just fine, its just your time availability to trade that is deficient as I see it. Words to ponder, when the going gets rough, reduce position size, but do not miss a signal generated by your system.
Good points there .You seem to be a very good teacher , you sound like a noble man , you should try teaching as a career.You got quite a number of valid points i must say .

Quoting Eur Usd
I told you many times - try dance/choros - I bet you know a lot about PA and it helps. signing out - good luck and try it on demo, as it is something new and no point loosing money to loose it. if you want to try it live than account of 25 pounds will do
I am not about to be like you man , sorry .I am gaining experience through the proper way .You have emptied our account so many times , you can't really teach me to go your route .Besides I honestly believe this bad patch will come to an end before my account is wiped out like what happened to yours.
  • #1,539
  • Aug 28, 2013 1:19am Aug 28, 2013 1:19am
Quoting tafadzwa02
I am not about to be like you man , sorry .I am gaining experience through the proper way .You have emptied our account so many times , you can't really teach me to go your route .Besides I honestly believe this bad patch will come to an end before my account is wiped out like what happened to yours.
up to you. good luck, hope you'll get where you want
On my way to financial independence - if others can do it - I can do it
  • #1,540
  • Aug 28, 2013 1:27am Aug 28, 2013 1:27am
Quoting tafadzwa02
You have emptied our account so many times
excuse me?
On my way to financial independence - if others can do it - I can do it
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