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Attempt: $100 - $1,000,000 in one year

  • #21
  • Edited Aug 31, 2013 12:01am Aug 30, 2013 11:16pm | Edited Aug 31, 2013 12:01am
Quoting No-Luck
I don't understand. You can connect NJ to MT4 ?
Actually I was wondering if you had considered porting your strategy to NinjaTrader (or another platform if you can't do it in MT).
  • #22
  • Aug 31, 2013 8:36pm Aug 31, 2013 8:36pm
Yes with NJ it can be done.

It's just the MT4 problem.

Maybe later when the account has grown trading CL will become very interesting.

If I need help you will hear from me, thanks.
  • #23
  • Sep 4, 2013 2:25pm Sep 4, 2013 2:25pm
This week is no trading. I need some time for relaxing.

Next week I start with volatile pairs.
  • #24
  • Sep 5, 2013 1:19pm Sep 5, 2013 1:19pm
Quoting No-Luck
My personal time interval is a whole week. I'm (re)viewing the markets and instruments from week to week, from Sunday to Friday. The average weekly volatility is very important to me for building some good r:r expectations. To beat the time i try to look for prices which were touched very few times or trade among big round numbers. That are places where i enter or switch positions. I expect price can't stay at one area forever and soon or later the big boys will move the instruments (either one direction).
Interesting, i myself am developing something similar, but reviewed daily as opposed to weekly.
I get the impression your pyramiding into positive trades (build good r:r expectations).
When switching positions are you simply reversing orders upon stops being hit? If so, your losses are pathetically small (in a good way) compared to your returns.

As for 'prices which were touched very few times' i dont quite follow you here, are you referring to stop placement?

Either way kudos to you, you have something very powerful here
  • #25
  • Sep 9, 2013 6:02pm Sep 9, 2013 6:02pm
Yes, sometimes i try to pyramide into winning trades. I hope to become better.

As for 'prices which were touched very few times': that are prices at extremes (on a range, RN, S/R etc.).

It's just beating the time and the choppy phase.
  • #26
  • Sep 12, 2013 9:46am Sep 12, 2013 9:46am
This week was not good.
I made too many mistakes in GBP/JPY and missed too many pips (also because of having go to bed without the chance to reverse in that phase and had to set a SL which was triggered).
That alone cost potential 2k profits).

I thought of pyramiding when the basic position finally showed good profit but decided to play defensive cause the week is already over.



http://s7.directupload.net/images/130912/khbb5a9c.png
  • #27
  • Sep 12, 2013 10:36am Sep 12, 2013 10:36am
when your account grows substantially, what you might want pay attention and re-fine is your allowance of draw down.

Most times, traders makes impressive gains, but as the account gets bigger and bigger, they want to protect the profits, and just takes 1 bad day, and everything will go down the drain.

My draw down is capped below 2-5%.

17% is quite high still.
  • #28
  • Sep 12, 2013 11:11am Sep 12, 2013 11:11am
Quoting No-Luck
This week was not good. I made too many mistakes in GBP/JPY and missed too many pips (also because of having go to bed without the chance to reverse in that phase and had to set a SL which was triggered). That alone cost potential 2k profits). I thought of pyramiding when the basic position finally showed good profit but decided to play defensive cause the week is already over. {image}

maybe Ea will better for your strategy so you dont miss a trade
  • #29
  • Sep 12, 2013 11:23am Sep 12, 2013 11:23am
Quoting No-Luck
This week was not good. I made too many mistakes in GBP/JPY and missed too many pips (also because of having go to bed without the chance to reverse in that phase and had to set a SL which was triggered). That alone cost potential 2k profits). I thought of pyramiding when the basic position finally showed good profit but decided to play defensive cause the week is already over. {image}

no luck IM just wondering what is your SL and TP?
  • #30
  • Sep 12, 2013 11:45am Sep 12, 2013 11:45am
Yes, I know about the problem with the DD. I'm working on it.

The SL or reverse is normally 5-10 pips.

The TP goes from 50-300 pips.
  • #31
  • Sep 12, 2013 12:08pm Sep 12, 2013 12:08pm
Quoting No-Luck
Yes, I know about the problem with the DD. I'm working on it. The SL or reverse is normally 5-10 pips. The TP goes from 50-300 pips.
The DD isnt necesarily a 'problem' in my way of thinking, obviously theres a 'limit' to everything but that comes down to ones equity management.

If your stops are 5/10 pips im asuming you are continually reversing until the real move occurs and the 'weekly' range expands...however, are you increasing lots on every reversal (pseudo-martingale) or straight lots no matter the continual stop outs? Maybe theres a correlation with the DD here.
  • #32
  • Sep 12, 2013 12:27pm Sep 12, 2013 12:27pm
"If your stops are 5/10 pips im asuming you are continually reversing until the real move occurs and the 'weekly' range expands."

Right.

"however, are you increasing lots on every reversal (pseudo-martingale) or straight lots no matter the continual stop outs?"

No. But it sounds interesting. Maybe I'm testing that in the near future.
  • #33
  • Sep 12, 2013 12:56pm Sep 12, 2013 12:56pm
Quoting No-Luck
"If your stops are 5/10 pips im asuming you are continually reversing until the real move occurs and the 'weekly' range expands." Right. "however, are you increasing lots on every reversal (pseudo-martingale) or straight lots no matter the continual stop outs?" No. But it sounds interesting. Maybe I'm testing that in the near future.
Im quite surprised how similar our models are (obviously there will be other criterias which understandably is for your privacy only) except i use it daily as opposed to weekly ranges (will have to evaluate this further).

Im looking into developing a tool which allows to pinpoint the lowest daily/weekly range ever over the existance of a particular market in order to break it down into a frequency distribution kinda thing i.e. smallest hi/low over last 10 years = 40ticks = 4% chance of occuring blablabla.

And also another tool which estimates the frequency with which price 'chops' between 2 specific reference points before finally taking off.
This last one may possibly help you manage your equity DD better...food for thought mate.
  • #34
  • Sep 14, 2013 1:18pm Sep 14, 2013 1:18pm
Yeah, the hardest part is to smooth out the chop (beating the time = making fewer trades).
  • #35
  • Sep 19, 2013 11:24pm Sep 19, 2013 11:24pm
I'm really considering to skip trading on Sundays and Mondays. My statistics shows that during these 2 days there are too many chop trades.

http://s1.directupload.net/images/130920/v9wlo5mr.png
  • #36
  • Sep 27, 2013 6:19am Sep 27, 2013 6:19am
This week I was testing some new things, drawing my own charts and studying patterns. The result is I made today only 3 trades in the GBP/USD.

That's the update:

http://s7.directupload.net/images/130927/cxebs6qd.png
  • #37
  • Oct 2, 2013 3:33am Oct 2, 2013 3:33am
I have changed my strategy.
The reason is I just wanna trade with bigger lot sizes and trade strength and weakness pattern (after reading the book "Reminiscences of a Stock Operator"). The R:R now comes close to 1:1

Yesterday, I traded the AUD/USD and today AUD/JPY. I'm done for this week - have some other stuff to do.

http://s1.directupload.net/images/131002/gca24635.png
  • #38
  • Oct 2, 2013 12:17pm Oct 2, 2013 12:17pm
Quoting No-Luck
I have changed my strategy. The reason is I just wanna trade with bigger lot sizes and trade strength and weakness pattern (after reading the book "Reminiscences of a Stock Operator"). The R:R now comes close to 1:1 Yesterday, I traded the AUD/USD and today AUD/JPY. I'm done for this week - have some other stuff to do. {image}

if you dont mind no luck what time do you trade eur and UK session ?, US session and asian session?
  • #39
  • Oct 3, 2013 1:50am Oct 3, 2013 1:50am
I trade UK and (post) US session.
  • #40
  • Oct 8, 2013 5:18am Oct 8, 2013 5:18am
The new approach is going pretty OK. But I have to become better in exploiting bigger moves in strength and weakness pattern.That means holding a bit longer to positions.

http://s14.directupload.net/images/131008/nxmdtwxs.png
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