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Looking for a 3-10pips system

  • #81
  • Sep 29, 2013 11:48am Sep 29, 2013 11:48am
check his trade list .... May 29-2013 - 3 USD/CAD trades open simultaneously...totaling 24 lots...had a draw down of 65 pips ( equaling 65 % of his total equity )
....if it was 100 pips draw down his trade explorer wouldn't be here.
closing trade using Sl is different thing while recovering huge draw down and closing little red , so to make people believe he is using SL.

having more than 3 years of experience and lots of vouches , i expect you to understand what it means when you look at the May 29 trades...there are lots of example of his trades some are open for 8 days..

I rest my case .... i wont bother to post here anymore.
  • #82
  • Sep 29, 2013 11:57am Sep 29, 2013 11:57am
Quoting mmaker
{quote} Can you take a look at these Myfxbook accounts? Is their money management worth studying for your purpose? http://www.myfxbook.com/members/FXVi...account/616112 http://www.myfxbook.com/members/Nick...se-wife/497347
Yeah, I saw the links... but actually I can't tell anything about their money management.
What I can say is my overall performance has improved significantly since I stopped using SL.
Yes, yes...I know every guru says it's stupid not using SL, but SL's did not work for me.
Trade Explorer is excellent tool to improve your trading.
When I was trading manually I used a strict plan so I didn't panic even if price went against me 300 pips.
Now I am trying to implement the same into EA software and working on lower time frames.
Usually everything goes right until Ben Bernanke or his colleagues scratch their heads... :-)
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  • #83
  • Sep 29, 2013 12:06pm Sep 29, 2013 12:06pm
Quoting ronaleo10
check his trade list .... May 29-2013 - 3 USD/CAD trades open simultaneously...totaling 24 lots...had a draw down of 65 pips ( equaling 65 % of his total equity ) ....if it was 100 pips draw down his trade explorer wouldn't be here. closing trade using Sl is different thing while recovering huge draw down and closing little red , so to make people believe he is using SL. having more than 3 years of experience and lots of vouches , i expect you to understand what it means when you look at the May 29 trades...there are lots of example of his trades...
Oh no buddy... don't quit... stay with us. :-) No hurt
It is so beneficial for everybody if you're able to find such detailed things. Great job!
It's just discussion.
Trade Explorers are great as they show the real step by step performance, either on demo or live.
I do not usually go so deep into trade details, but read the overall trade reports and watch graphs...
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  • #84
  • Sep 29, 2013 12:29pm Sep 29, 2013 12:29pm
Quoting mmaker
{quote} I'm learning here. But I don't understand how you arrive at 65pips = 65% of total equity. It will help me to analyze other TradeExplorers. {quote} Can you help with the calculation? I know the Demo account is 100:1 leverage. {image}
I have been using trade Explorer since the first day it was implemented in Forex factory.
I even helped to find some bugs with FF team.
The very important chart, but mostly ignored is Equity/Balance graph.

The ideal picture is they all go together head in head, very close. If you see white gaps it means trader had problems. You can tell how long it lasted, how big was the drawdown etc etc...
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  • #85
  • Sep 29, 2013 12:34pm Sep 29, 2013 12:34pm
Quoting mmaker
{quote} I'm learning here. But I don't understand how you arrive at 65pips = 65% of total equity. It will help me to analyze other TradeExplorers. {quote} Can you help with the calculation? I know the Demo account is 100:1 leverage. {image}
Well, I don't think leverage and any calculation is needed...
What I can see is he had one bad trade and he was loosing -1.7% so he managed to square his position with next two trades +0.5% +1.2%.
He closed it at breakeven, that is all...
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  • #86
  • Sep 29, 2013 12:53pm Sep 29, 2013 12:53pm
Quoting mmaker
{quote} Please help me to understand ..... I'm repeating myself too often now. How do you calculate that 65pips = 65% drawdown from the 3 USD/CAD trades? I'm not saying his calculation is wrong, I just want to learn to arrive at the same conclusion. Your suggestion of Equity/Balance graph didn't address my question specific to those 3 trades and their drawdown.
hehe... It was ronaleo10 who has calculated this but I think it was like this:

As you can see all three trades were not protected and price moved about 50pips against the all three trades, before it began reversing.
So my calculation is like:
- With position opened for 24 lots 1 pip is worth $ 240
- 50 pips makes $12.000 drawdown
- with balance account $25.000 it makes 50% drawdown.

Ronaleo10 was right saying that if price moved another 50pips against the trade, it would blow his account into pieces...
I have to admit it is very, very fckg risky to use such a big leverage.
It is amazing that Ronaleo found it, hehehe... good job.

Attached Image (click to enlarge)
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  • #87
  • Oct 2, 2013 3:20am Oct 2, 2013 3:20am
Quoting DR Ali
{quote} so you survive in hong kong on demo money? wowwwww


  • #88
  • Oct 2, 2013 3:32am Oct 2, 2013 3:32am
let these glory hunters have their fun. brokers asking a man to trade their money who has no mm. Halkins u sound pro why waste time with people who are better trader than mr. buffett.
  • #89
  • Oct 5, 2013 1:16pm Oct 5, 2013 1:16pm
IMO, all systems can be a profitable system. System actually is not important, but the important is how to turn bad RR for a negative expectancy (Near to zero value) into positive expectancy.

For a scalping system, 3 to 5 pips is so easy to catch ,only if you don't apply stop loss or widen the stop loss. You will get higher winning probability but final return is negative. Obviously, the RR is bad.

I am not sure if I can apply below MM system to change the expectancy with the edge of less losing streak. I know that MM definitely cannot alter the expectancy, but it might be possible with some edge. Please don't argue first .....let me explain.

Let say stop loss 50 pips, target 5 pips. Maintain same lot size for every winning trade. So the next trade lot size would be increased if previous trade is losing. Example: 0.01 lot x -50 pips = -0.5 lose, next trade win is 0.10 lot x 5 pips = +0.5. So it recover the lose amount. Obviously, this is the martingale method, but the edge is many winning streak, and less losing streak. So it would not have the issue of not enough capital.

What do you say?
Thanks.
  • #90
  • Oct 5, 2013 4:42pm Oct 5, 2013 4:42pm
Quoting goldfinger
let these glory hunters have their fun. brokers asking a man to trade their money who has no mm. Halkins u sound pro why waste time with people who are better trader than mr. buffett.
Solid discussion is never a waste of time. I am always opened to learn something new ;-))))
I knew the guy who had excellent results and his stop loss was... a "MARGIN CALL", hahaha, no kidding...
After he had reached some profits he withdrew his profits and let the rest run again.
This guy won some FX competitions cashing out once $100.000 prize.
Now he "disappeared" so either he his enjoying his life on his new luxury boat or he just fcked up all his money.
Definitely his system wasn't my way of trading, but wished I had ever reached his results, going in thousands %%...
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  • #91
  • Oct 5, 2013 5:00pm Oct 5, 2013 5:00pm
Quoting ~bull.bear~
IMO, all systems can be a profitable system. System actually is not important, but the important is how to turn bad RR for a negative expectancy (Near to zero value) into positive expectancy. For a scalping system, 3 to 5 pips is so easy to catch ,only if you don't apply stop loss or widen the stop loss. You will get higher winning probability but final return is negative. Obviously, the RR is bad. I am not sure if I can apply below MM system to change the expectancy with the edge of less losing streak. I know that MM definitely cannot alter the...
It does make sense. Most of EA programs work using this method.
The only issue is you must open your positions in certain support/resistance areas to increase your chances. If you use only statistics and mathematics and let the program run itself, you gonna loose in a long term, as you are not able to predict NEWS events like we had last month with QE...
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  • #92
  • Oct 7, 2013 3:28am Oct 7, 2013 3:28am
Yes, some day is unexpected. But this can be control like stop trading if there are 1 losing trade, then restart the system on next day. The edge is there are more consecutive winning trades and only 1 losing. If apply another MM system like increasing the lot size if previous trades is a win trade, then i believe this system can generate good income in overall scenario.

Example:
Apply 1,3,2,4x initial lot size if previous trade is win. Stop trading if previous trade is lose.

Assume 20 trades daily, due to the edge of consecutive winning streak, and 1 losing trade, and stop trading and restart it on the next day. So....
Take average 10 trades are consecutive winning trades, then next trade is lose. Initial lot size is 1.00. SL=20, TP=5.

1+3+2+4+1+3+2+4+1+2=23 x5 TP=+115 in 10 consecutive win
Take the MAX RISK in calculation, 4 x 20 SL = -80 at the 11th trade

So 7 consecutive win would be breakeven. 16 x 5 TP = +80 - 80 = 0.
Above calculation is based on MAX RISK. It cannot have max risk trade everyday, and it can have many consecutive winning streak. If the begining trade at somewhere is losing, take max risk in assumption, then other winning day can cover back this losing day. Importantly, this is just 1 pair. This can be applied in many pairs.

I gonna to test this....
What do you say?
Thanks.
  • #93
  • Oct 7, 2013 12:11pm Oct 7, 2013 12:11pm
Quoting GDR3k
Just scalp small swing highs and lows which haven't previously been re-tested, you can almost guarantee some sort of volatility at these areas.
Scalping is good but it is necessary that it should be done with proper analysis because it is risky too and we can earn lots of profit from it if it is being done through proper trading plan and strategies.
  • #94
  • Oct 7, 2013 5:42pm Oct 7, 2013 5:42pm
Quoting ~bull.bear~
(...) It cannot have max risk trade everyday, and it can have many consecutive winning streak. If the begining trade at somewhere is losing, take max risk in assumption, then other winning day can cover back this losing day. Importantly, this is just 1 pair. This can be applied in many pairs. I gonna to test this.... What do you say? Thanks.
Hi buddy.
I think I know what you mean, but this system is not for me...
Here's 3 quciky why's:
1. I all sounds great but first of all I like considering worst scenario first. What if you have only 5 consecutive loosers (might happen, heh?) then you're 400 pips under water which are impossible to recover... Are you going to mentally survive this?
2. Some people say automatic trading do not involve emotions. This is bullshit. People who run EA many times follow the trading. It's does not work the way that you turn your program on, close the door and you come back 6 months later. I bet after only 3 loosing trades you'd clicked the STOP button.
3. I am working on MM system which will follow the price, rather then increase my position size. I mean I want to keep my breakeven about 30-40 pips away of
current price. My "experiments" says that increasing position size by 1.35-1.40 is enough to do it for 200-300 pips going against you.

But we'll be happy to see your testing results... Good luck!
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  • #95
  • Oct 8, 2013 10:37am Oct 8, 2013 10:37am
Quoting halkins
{quote} Hi buddy. I think I know what you mean, but this system is not for me... Here's 3 quciky why's: 1. I all sounds great but first of all I like considering worst scenario first. What if you have only 5 consecutive loosers (might happen, heh?) then you're 400 pips under water which are impossible to recover... Are you going to mentally survive this? 2. Some people say automatic trading do not involve emotions. This is bullshit. People who run EA many times follow the trading. It's does not work the way that you turn your program on, close the...
According to my test, apparently for bad RR position, MM cannot be applied with martingale if win, but it can be applied with martingale if lose even there are many consecutive win and less consecutive lose. The reason is when lot size is increased more and more, the lose trade will kill all previous profit due to big SL distant.

However, if RR is at least 1:1. MM can be applied. It doesn't matter if win or lose to increase the lot size, because the profit will be more than risk. Especially this system will earn more if there are many consecutive win and less consecutive lose. Unfortunately, win and lose almost have the same number of consecutive.

Thanks.
  • #96
  • Oct 15, 2013 12:45am Oct 15, 2013 12:45am
when u make 1000% a week u could live in any city in the world like this guy lives in Hongkong.
  • #97
  • Nov 1, 2013 9:55pm Nov 1, 2013 9:55pm
I watched Scalpeur's http://www.forexfactory.com/scalpeur#75 trading and learned one think, it does not matter how you manage trade, it does not have to be traditional. As long account is growing. If the demo account is growing, the real one will grow too.
I like that method very much, it can be added to any other system. I was testing it mostly on XAU/USD. It worked quite good for scalping.
But i used more Bollinger Bands: 20 2 deviation, 20 1 deviation, BB 100 and BB 360. Watched for pivots points, round numbers, ADR, MACD and higher time frame Stoc confluence. I will share later on his thread if i continue to get good results. The max stop loss 10 pips or less (mental stop) for 1-5 min charts (it is bigger for gold)

I am looking for other systems with double Bollinger Bands. Please give me links if you know any that looks interesting.

Thank you all !
  • #98
  • Nov 2, 2013 8:46pm Nov 2, 2013 8:46pm
If you want to understand more the BB:

  1. http://www.forexfactory.com/showthre...ight=bollinger
  2. http://www.forexfactory.com/showthre...ight=bollinger (use BB90)
  3. http://www.dailyfx.com/forex_forum/m...ger-bands.html

  • #99
  • Nov 2, 2013 8:51pm Nov 2, 2013 8:51pm
Quoting scalpeur
If you want to understand more the BB: http://www.forexfactory.com/showthre...ight=bollinger http://www.forexfactory.com/showthre...ight=bollinger (use BB90) http://www.dailyfx.com/forex_forum/m...ger-bands.html

Thank you !
  • #100
  • Nov 2, 2013 10:13pm Nov 2, 2013 10:13pm
How is elcomepips making that much profit from forex? I want to know how
uphill battle
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