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As simple as possible: 00 level trading

  • #2,441
  • Jun 13, 2014 7:58pm Jun 13, 2014 7:58pm

Traders DO NOT Download OPEN OFFICE SUITE A Free Office Download

It will install a bunch of Ad Ware Junk

A Heads Up Warning!


I made this mistake and it takes control of Google Chrome and is a PIA to delete!



Regards.
Cigarguy
Keep It Simple
  • #2,442
  • Jun 13, 2014 9:13pm Jun 13, 2014 9:13pm
Gidday Mates, can anyone help an Aussie with the link to install indicator to over lay time frame candles as in post no 2429 thanks in anticipation Q
Whats That? you're trading What?
  • #2,443
  • Jun 13, 2014 9:15pm Jun 13, 2014 9:15pm
Quoting aje6767
{quote} Hi Pedma what does the SIGNAL on this wukar 002 stands for?
It is reserved for future development. stay tune ...
Good friends are more valuable than gold ...
  • #2,444
  • Edited Jun 14, 2014 12:34am Jun 13, 2014 9:31pm | Edited Jun 14, 2014 12:34am
Quoting mario777
{quote}Dear Udine and all, I wonder if you have an excel sheets about on how to compound our earnings for 3 years. If you have please share it.Many Thanks!
Mario, see my attached spreadsheet. This will allow you to both see the projections of your inputs as well as keep track of your daily progress toward that goal. [Note: Some of the functions require Excel 2007 or better, primarily the AVERAGEIF function. I can set it up to work for older Excel versions if required].

Notes:

Growth Plan & Statistics Tab

  1. In general, any user input cells are shaded green. You don't need to touch anything else.
  2. There are two methods of position sizing available: Margin and Risk %

    1. Risk %: Calculates trade size based on a stop value and a risk % defined by the user
    2. Margin: Calculates trade sized based on your available margin (defined by your broker) and how much margin you choose to use (defined by you).
    3. These are controlled by the drop down menu in the center of the spreadsheet.

  3. Since achieving the daily goal every single day for the next 3 years is HIGHLY unlikely, there is a user input for "% Days Goal Achieved". This assumes that on average, your will achieve you daily goal multiplied by this percentage factor.
  4. Max Lots: you cannot compound to infinity. This input limits the maximum trade size you can go to.
  5. Daily goal is set in pips. If someone really requires it, this can be altered to a % target. In this thread, the aim is for 10 pips, which equates to 1% with the 10 pip stop and 1% risk.

Daily Fills Tab

  1. The inputs here are self explanatory. This is used to track your daily performance and keep track of your trades. Just the fact of having to log each and every trade significantly reduced the number of extraneous (outside of my plan) trades I was taking when I started doing this.
  2. These inputs feed back to the previous tab and update the projections. So once you input the date (currently configured for US date standards MONTH/DAY/YEAR) on the Growth Plan and Statistics tab in Column M (the green column), it will pull your trade stats for that day onto the Growth Plan and update the net income figure from whatever the projection was feeding it to your actual P&L. This will continuously update your projections based on performance you have achieved.
  3. On the Growth Plan and Statistics tab, the upper left section is statistics generated from the trades you input on the Daily Fills tab. There is no need to input anything here - it will draw from the Daily Fills tab and update automatically.

Trade Plan Tab

  1. Enter your trade plan here and follow it!
  2. In the last column on the Daily Fills tab, there is "Y" or "N" input: this is whether or not the trade your trade plan was followed for that particular trade. This then pushes back to the Growth Plan and Statistics tab to calculate what I call the "Discipline %" - basically, how many of your trades adhere to your trade plan.

    1. This becomes a "fun" statistic to try to "win" at. If you are keeping this above 90 or 95% then you are doing well, 100% is a perfect score. It provides a different way of "scoring" yourself, other than simply profit. Profit is the ultimate goal, of course, but discipline is what gets someone there.

Reporting Tab

  1. This tab will start autogenerating a graph of your daily and cumulative performance as you input dates on the Growth Plan and Statistics tab. It is setup for 30 days. You can mess with it (show more days) if you can stick with filling out your trade tracking journal long enough.

That's it - let me know if anyone has any questions.

Attached File(s)
File Type: xlsx Account Tracking FF_V2.xlsx   380 KB | 900 downloads
Small disciplines repeated with consistency lead to great achievements.
  • #2,445
  • Jun 13, 2014 9:37pm Jun 13, 2014 9:37pm
  •  dlazor
  • | Joined Apr 2011 | Status: I've been on the computer how long? | 28 Posts
Quoting jmflukeiii
{quote} Mario, see my attached spreadsheet...
Nicely done! Compliments and thanks for sharing!
  • #2,446
  • Jun 13, 2014 9:43pm Jun 13, 2014 9:43pm
[quote=cigarguy;7535954]Traders DO NOT Download OPEN OFFICE SUITE A Free Office Download It will install a bunch of Ad Ware Junk A Heads Up Warning! I made this mistake and it takes control of Google Chrome and is a PIA to delete!

Check this out: http://www.kingsoftstore.com/softwar...ffice-freeware

Seems pretty decent.

good weekend

Rgds/Dot
Dot
  • #2,447
  • Jun 13, 2014 9:48pm Jun 13, 2014 9:48pm
Gidday Mates, can anyone help an Aussie with the link to install indicator to over lay time frame candles as in post no 2429 thanks in anticipation Q[/quote]

G/Day Qed, if you are referring to the green(up) and maroon(down) candles, they are part of the package in the Zip file on page #1 of this thread, called 'M-Candles'. Good luck with the installation.

Pete
  • #2,448
  • Jun 13, 2014 9:49pm Jun 13, 2014 9:49pm
Quoting dlazor
{quote} Nicely done! Compliments and thanks for sharing!
No problem - I have found it helpful to both have the goal in front of me as well as the means to track my progress towards achieving it. If only it was as simple as making the damn spreadsheet
Small disciplines repeated with consistency lead to great achievements.
  • #2,449
  • Jun 13, 2014 10:02pm Jun 13, 2014 10:02pm
Quoting jmflukeiii
{quote} No problem - I have found it helpful to both have the goal in front of me as well as the means to track my progress towards achieving it. If only it was as simple as making the damn spreadsheet
JM, that was fast! thank you so much for sharing.
  • #2,450
  • Jun 13, 2014 10:28pm Jun 13, 2014 10:28pm
Quoting jmflukeiii
{quote} No problem - I have found it helpful to both have the goal in front of me as well as the means to track my progress towards achieving it. If only it was as simple as making the damn spreadsheet
Treating FX as a serious business is a fundamental requirement!

The Excel Chart you provided will greatly facilitate this process.

I salute your sharing of a very good template.......
Master your Mind then Master your Trades
  • #2,451
  • Jun 13, 2014 10:29pm Jun 13, 2014 10:29pm
thanx Pete , Ill check it out Q
Whats That? you're trading What?
  • #2,452
  • Jun 14, 2014 12:33am Jun 14, 2014 12:33am
Quoting mario777
{quote} JM, that was fast! thank you so much for sharing.
No problem. I realized that upon modification of the sizing calculation (I have used it solely based on margin based position sizing) that I forgot to include the rounding decimal point limiter... i.e. you can't trade .101 lots, only .10 or .11. This version corrects that - I have also replaced the other post with the correct spreadsheet.
Attached File(s)
File Type: xlsx Account Tracking FF_V2.xlsx   380 KB | 778 downloads
Small disciplines repeated with consistency lead to great achievements.
  • #2,453
  • Jun 14, 2014 12:49am Jun 14, 2014 12:49am
Quoting jmflukeiii
{quote} No problem. I realized that upon modification of the sizing calculation (I have used it solely based on margin based position sizing) that I forgot to include the rounding decimal point limiter... i.e. you can't trade .101 lots, only .10 or .11. This version corrects that - I have also replaced the other post with the correct spreadsheet. {file}
Thank you Jmflukeii
cheers
hannele
  • #2,454
  • Jun 14, 2014 2:44am Jun 14, 2014 2:44am
Quoting jmflukeiii
{quote} Mario, see my attached spreadsheet. This will allow you to both see the projections of your inputs as well as keep track of your daily progress toward that goal. [Note: Some of the functions require Excel 2007 or better, primarily the AVERAGEIF function. I can set it up to work for older Excel versions if required]. Notes: Growth Plan & Statistics Tab In general, any user input cells are shaded green. You don't need to touch anything else. There are two methods of position sizing available: Margin and Risk % Risk %: Calculates trade size...
JM,
Very kind of you to share the spreadsheet. Have a good weekend.
  • #2,455
  • Jun 14, 2014 3:11am Jun 14, 2014 3:11am
hi udine, others.
nice simple system you have there.

i have a small query from post #1 of this thread.

please explain what you mean by:
"Distance to RN > 10 pips"

thanks.
  • #2,456
  • Jun 14, 2014 3:42am Jun 14, 2014 3:42am
Hi guys,

I've just finished to read all the pages of this thread, great info to learn.
Thank you so much udine for shearing this system with us.

For all the new comers on this thread, try to read all the pages of this thread. You will find a lot of great info and over 90% of your questions are already answered.

Quoting pgd
hi udine, others. nice simple system you have there. i have a small query from post #1 of this thread. please explain what you mean by: "Distance to RN > 10 pips" thanks.
RN - round numbers like ".000" . The distance from the round numbers should be at least 10 pips away.

Have a nice weekend and see you next week.
  • #2,457
  • Jun 14, 2014 5:11am Jun 14, 2014 5:11am
Quoting pedma
{quote} Hi, This is Wukar version 002. Adding the commission & market session. Thanks -pedma {image} {file}
Hi,

This is Wukar Monitor version 003. Adding the news filtering and indicator position variables (moving to X pixel left / Y pixel down).
For news filtering, i have problem of using FFcal . And i need a simple and fast solution, so ... i must put BIG impact news time every day.
According to master Udine, (if i am not wrong) we just need to see big impact news of JPY, EUR, GBP and USD .

Hope this is useful, Enjoy ...
If you find any error, please let me know.

Thanks
-pedma
Attached Images
Attached File(s)
File Type: ex4 WukarMonitor_v003.ex4   95 KB | 636 downloads
Good friends are more valuable than gold ...
  • #2,458
  • Jun 14, 2014 5:15am Jun 14, 2014 5:15am
Quoting FXEmpire
speaking of not mentioning losers.. I am a transparent guy so I don't mind. So here is one by me.. like an idiot.. not following the rules and get yourself in the a mess.. making life for yourself harder for no reason at times.. 1st trade long at 100Lv i took, is a winner but was not ripe for a signal.. if I simply had waited for the valid signal which is (marked 2) I would have made my 5 pips easily and done with the one trade an hour.. instead tried to out smart the damn thing by being aggressive and early.. which that winner led me to ignore...
@FXEmpire
Thanks for your post. This is where we go beyond the "how do I get the template and the indis to work" stage.

Now, from my point of view, you stuck to all the rules as outlined in Udine´s summary for your first long (unless you jumped in w/o a pending order). I am curious to know why number 1 - according to you - was not ripe for a signal ?
Now, it´s true that PA was just a bit "undecided" the three candles prior to your long. Having said that, unless you´ve included additional criteria for yourself (candlestick patterns ?), I cannot see any wrong.

Second (missed opportunity), I fully agree with you. All part of the learning curve ;-)

Then for number 3, you quoted "the absolute no f-ing signal"...
Mmmm, I was thinking; if H1 and D1 agreed, still rmup, ADR OK, you put in a pending order, you stuck to the rules.
OK, it would have been better to get in at .200, but still... With a bit more luck, you´d even gotten a bullish candle all the way up to the .400 level !

Anyway, thanks in advance for sharing your (and others) views on this.

flx69
  • #2,459
  • Jun 14, 2014 5:26am Jun 14, 2014 5:26am
Hi;

This spreadsheet, I think it can be very useful to see the odds, in the long time, relative to the ratio of gains / loss.
The spreadsheet generates random sequences, gain = 1, loss = -1. (with F9, a new random sequence is generated).

It has several scenarios, in this example the cell "Sys 1 Return" = 2.0, is a ratio of 1 gain = 2 loss, the cell "Fixed Size Risked %" = 0,04, this the 4 % of risk from the stop loss.

Cheers
Attached File(s)
File Type: xlsx R2R probalidades.xlsx   51 KB | 658 downloads
  • #2,460
  • Jun 14, 2014 5:29am Jun 14, 2014 5:29am
Quoting pedma
{quote} Hi, This is Wukar Monitor version 003. Adding the news filtering and indicator position variables (moving to X pixel left / Y pixel down). For news filtering, i have problem of using FFcal . And i need a simple and fast solution, so ... i must put BIG impact news time every day. According to master Udine, (if i am not wrong) we just need to see big impact news of JPY, EUR, GBP and USD . Hope this is useful, Enjoy ... If you find any error, please let me know. Thanks -pedma {image} {file} {image} {image}
Good Job Again! And the gray area is active session. I can't tell with the mkt closed? and is fixed or can be turned on/off?

Cigarguy
Keep It Simple
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