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Magnetic Target Zone with Capped Martingale

  • #41
  • Oct 15, 2014 12:10pm Oct 15, 2014 12:10pm
Quoting New-Pragati
Today's Third Trade : AUDCAD (C1) : sell 0.01 lot at 0.9946. TP 0.9900. SL post 3rd Martingale. Next Level sell 0.04 lot at 1.0016 (C2) if TP not hit on above trade (C1) and goes further down. TP at this level will be 0.9960.(All AUDCAD trades closed) Last Level sell 0.20 lot at 1.0086 (C3) if TP not hit on the above trade (C2) and goes further down. TP at this level will be 1.0030. (All AUDCAD trades closed) If the pair continues rising then SL of all above trades (C1 , C2 , C3) will be 1.0111.
The 1st level trade was closed at a profit of $4.03 (after charges)
trade C2 and C3 cancelled.
Attached Image (click to enlarge)
Click to Enlarge Name: proof 8.jpg Size: 47 KB
Striving to Develop & Implement Innovative Ideas
  • #42
  • Oct 15, 2014 10:01pm Oct 15, 2014 10:01pm
Quoting New-Pragati
Today's fourth Trade : GBPJPY (D1) : buy 0.01 lot at 169.39. TP 169.90. SL post 3rd Martingale. Next Level buy 0.04 lot at 168.69 (D2) if TP not hit on above trade (D1) and goes further down. TP at this level will be 169.25.(All GBPJPY trades closed) Last Level buy 0.20 lot at 167.99 (D3) if TP not hit on the above trade (D2) and goes further down. TP at this level will be 168.55. (All GBPJPY trades closed) If the pair continues falling then SL of all above trades (D1 , D2 , D3) will be 167.74.
The fourth trade was also closed in profit of the second step with a net profit of $20.92
The 1st step closed at a total loss of $0.92 (manually closed)
Third step trade cancelled.
Net profit on this trade is $20.
Attached Image (click to enlarge)
Click to Enlarge Name: proof 9.jpg Size: 70 KB
Striving to Develop & Implement Innovative Ideas
  • #43
  • Oct 15, 2014 10:07pm Oct 15, 2014 10:07pm
Quoting New-Pragati
Today's Sixth Trade : CADJPY (F1) : buy 0.01 lot at 93.71. TP 94.15. SL post 3rd Martingale. Next Level buy 0.04 lot at 93.01 (F2) if TP not hit on above trade (F1) and goes further down. TP at this level will be 93.55.(All CADJPY trades closed) Last Level buy 0.20 lot at 92.31 (F3) if TP not hit on the above trade (F2) and goes further down. TP at this level will be 92.85. (All CADJPY trades closed) If the pair continues falling then SL of all above trades (F1 , F2 , F3) will be 92.06
The sixth trade closed in profit in 1st step . net profit = $4.09 (after charges)
Step 2 and 3 cancelled.
Attached Image (click to enlarge)
Click to Enlarge Name: proof 11.jpg Size: 75 KB
Striving to Develop & Implement Innovative Ideas
  • #44
  • Oct 16, 2014 12:13am Oct 16, 2014 12:13am
The Fifth and Seventh trade is still open.
Ideally the fifth trade was supposed to be closed last night and the second step of the trade did get closed in profit ($20+) . However the 1st step is still open as I was asleep when it was supposed to get closed. (knowledge issue)
I have requested help from a technical forum for a solution to above scenarios so that in future I can prevent this.

http://www.forexfactory.com/showthre...10#post7804410

Also I will update the trade proofs once the trades are closed
Striving to Develop & Implement Innovative Ideas
  • #45
  • Oct 16, 2014 1:11am Oct 16, 2014 1:11am
Quoting New-Pragati
I came to another conclusion : I should put up screenshots of the trades closed / cancelled that I have mentioned previously in posts 5 , 9 and 11. This should serve as proof of taking the trades mentioned and following this system. For the above 3 trade set I am attaching a single mt4 image. Henceforth I will update the image with each trade set closure. {image}
Good statement. Never the less.

But most of your trades didn't have any SL. You may be trading with some auto trading system.
NO SL position can wipe your account in one Day. Also your trades have irregular size which may cause you problem in long run.

Rest are ok.
  • #46
  • Edited 2:12am Oct 16, 2014 1:51am | Edited 2:12am
Quoting esanjayplaye
{quote} Good statement. Never the less. But most of your trades didn't have any SL. You may be trading with some auto trading system. NO SL position can wipe your account in one Day. Also your trades have irregular size which may cause you problem in long run. Rest are ok.
Thanks for your info.
Regarding the SL, it is there with each trade execution post, but not entered in the trade itself. I am skeptical of the brokers doing SL hunting. I have personally verified this at some brokers actually doing this. ( many people may call me paranoid for this but it does not make a difference to me)
Ideally I would close all trades at the mentioned SL manually or I might input the SL in each trade after execution of 3rd step.
Regarding the lot size , it is fixed/capped till the 3rd step and does not increase after the 3rd step.
My trading is done manually and is based on the little knowledge that I have of the market. There is no auto trading program/EA involved till now.
I am testing this out currently and if it is successful I will standardize the entire process and get an EA created.
Good Luck with your trading.
Striving to Develop & Implement Innovative Ideas
  • #47
  • Oct 16, 2014 2:00am Oct 16, 2014 2:00am
Quoting New-Pragati
Today's fifth Trade : GBPCHF (E1) : buy 0.01 lot at 1.5076 .TP 1.5125. SL post 3rd Martingale. Next Level buy 0.04 lot at 1.5006 (E2) if TP not hit on above trade (E1) and goes further down. TP at this level will be 1.5060.(All GBPCHF trades closed) Last Level buy 0.20 lot at 1.4936 (E3) if TP not hit on the above trade (E2) and goes further down. TP at this level will be 1.4990. (All GBPCHF trades closed) If the pair continues falling then SL of all above trades (E1 , E2 , E3) will be 1.4911.
Also see post 44 for reference to this trade closure.
The above trade was closed in profit at the second step . profit= $22.73 ( after deductions)
1st step trade closed in loss of $0.38.
So net profit in this trade set = $22.35.
Attached Image (click to enlarge)
Click to Enlarge Name: proof 10.jpg Size: 51 KB
Striving to Develop & Implement Innovative Ideas
  • #48
  • Oct 16, 2014 2:38am Oct 16, 2014 2:38am
Quoting New-Pragati
Today's Seventh Trade : EURGBP (G1) : sell 0.01 lot at 0.8021. TP 0.7998. SL post 3rd Martingale. Next Level sell 0.04 lot at 0.8061 (G2) if TP not hit on above trade (G1) and goes further down. TP at this level will be 0.8031.(All EURGBP trades closed) Last Level sell 0.20 lot at 0.8101 (G3) if TP not hit on the above trade (G2) and goes further down. TP at this level will be 0.8071. (All EURGBP trades closed) If the pair continues falling then SL of all above trades (G1 , G2 , G3) will be 0.8131
The above mentioned trade is closed in 1st step with TP of $3.62 (after deductions)
The trades in 2nd and 3rd step is cancelled.
Attached Image (click to enlarge)
Click to Enlarge Name: proof 12.jpg Size: 50 KB
Striving to Develop & Implement Innovative Ideas
  • #49
  • Oct 16, 2014 8:42am Oct 16, 2014 8:42am
Today was a bad day. From 1pm IST I was away from my system and at about 3:30pm when I came on my system my internet was not working. Till about 6:40 pm IST I did not have any net connection. Once The internet got connected I saw some missed opportunities.
The First Trade for today :
Today's FirstTrade :
AUDJPY (A1) : buy 0.01 lot at 92.12. TP 92.60. SL post 3rd Martingale.
Next Level buy 0.04 lot at 91.42 (A2) if TP not hit on above trade (A1) and goes further up. TP at this level will be 92.00.(All AUDJPY trades closed)
Last Level buy 0.20 lot at 90.72 (A3) if TP not hit on the above trade (A2) and goes further up. TP at this level will be 91.25. (All AUDJPY trades closed)
If the pair continues falling then SL of all above trades (A1 , A2 , A3) will be 90.47.
Striving to Develop & Implement Innovative Ideas
  • #50
  • Oct 16, 2014 8:47am Oct 16, 2014 8:47am
Today's Second Trade :
CADJPY (B1) : buy 0.01 lot at 93.23. TP 93.70. SL post 3rd Martingale.
Next Level buy 0.04 lot at 92.53 (B2) if TP not hit on above trade (B1) and goes further up. TP at this level will be 93.10.(All CADJPY trades closed)
Last Level buy 0.20 lot at 91.83 (B3) if TP not hit on the above trade (B2) and goes further up. TP at this level will be 92.40. (All CADJPY trades closed)
If the pair continues falling then SL of all above trades (B1 , B2 , B3) will be 91.58.
Striving to Develop & Implement Innovative Ideas
  • #51
  • Oct 16, 2014 8:58am Oct 16, 2014 8:58am
Quoting New-Pragati
.......... The First Trade for today : Today's FirstTrade : AUDJPY (A1) : buy 0.01 lot at 92.12. TP 92.60. SL post 3rd Martingale. Next Level buy 0.04 lot at 91.42 (A2) if TP not hit on above trade (A1) and goes further up. TP at this level will be 92.00.(All AUDJPY trades closed) Last Level buy 0.20 lot at 90.72 (A3) if TP not hit on the above trade (A2) and goes further up. TP at this level will be 91.25. (All AUDJPY trades closed) If the pair continues falling then SL of all above trades (A1 , A2 , A3) will be 90.47.
Within 30 minutes the trade closed in the 1st step with a net profit of $4.49
Trade A2 and A3 cancelled
Attached Image (click to enlarge)
Click to Enlarge Name: proof 13.jpg Size: 47 KB
Striving to Develop & Implement Innovative Ideas
  • #52
  • Oct 16, 2014 9:02am Oct 16, 2014 9:02am
Quoting New-Pragati
Today's Second Trade : CADJPY (B1) : buy 0.01 lot at 93.23. TP 93.70. SL post 3rd Martingale. Next Level buy 0.04 lot at 92.53 (B2) if TP not hit on above trade (B1) and goes further up. TP at this level will be 93.10.(All CADJPY trades closed) Last Level buy 0.20 lot at 91.83 (B3) if TP not hit on the above trade (B2) and goes further up. TP at this level will be 92.40. (All CADJPY trades closed) If the pair continues falling then SL of all above trades (B1 , B2 , B3) will be 91.58.
This trade also got closed in about 20 mins in the first step with a net profit of $4.33
Trade B2 and B3 cancelled.
Attached Image (click to enlarge)
Click to Enlarge Name: proof 14.jpg Size: 45 KB
Striving to Develop & Implement Innovative Ideas
  • #53
  • Oct 16, 2014 11:38pm Oct 16, 2014 11:38pm
Quoting New-Pragati
{quote} A little change to post 4 . ; The Capped Martingale system will consists of 3 steps of the trade. The first trade in any particular pair will be taken with a lot of 1,000 (0.01). The second trade of each traded pair will be 4,000 (0.04). The third trade will be 20,000 (0.20). If it touches the SL of the third trade in any pair then the first and second trade will also be closed in that pair. My opinion and assumption : This method will generally work but when there is any very, very high impact news or developments then the SL of the 3rd...
After the results and initial analysis of the first 15 sets of trades there is a little change in the strategy to reduce loss in case the strategy does not work.
The first trade will be 1,000 (0.01) , the second trade will be 4,000 (0.04) and the 3rd trade will be 10,000 (0.10).
A littel change in profit ratio :
The TP of the 2nd step will be the opening price of the First step .
The TP of the 3rd trade will be opening price of second trade. SL of the 3rd trade and all other steps will be 20-40 pips away from opening price depending on currency pair.
Striving to Develop & Implement Innovative Ideas
  • #54
  • Edited Oct 18, 2014 12:45am Oct 17, 2014 5:46am | Edited Oct 18, 2014 12:45am
Quoting New-Pragati
{quote} After the results and initial analysis of the first 15 sets of trades there is a little change in the strategy to reduce loss in case the strategy does not work. The first trade will be 1,000 (0.01) , the second trade will be 4,000 (0.04) and the 3rd trade will be 10,000 (0.10). A littel change in profit ratio : The TP of the 2nd step will be the opening price of the First step . The TP of the 3rd trade will be opening price of second trade. SL of the 3rd trade and all other steps will be 20-40 pips away from opening price depending on currency...
On further analysis I have found that the 1st step is the most successful. (10/15) The second step is also successful to some extent.(5/15) The third step has not been activated even once till now. So henceforth will reduce the last step lot and increase the 1st step lot.
New lot size in 1st step will be 3000 (0.03) , in the 2nd step will be 5000 (0.05) and in the 3rd step will be 7000 (0.07)
Striving to Develop & Implement Innovative Ideas
  • #55
  • Oct 17, 2014 8:29am Oct 17, 2014 8:29am
Today the system that I am following did not provide any opportunities / trades till now.
I don't see entries building up in any pair for today.
I can relax and enjoy the weekend and spend the small profits that has been made.
Striving to Develop & Implement Innovative Ideas
  • #56
  • Oct 19, 2014 1:34pm Oct 19, 2014 1:34pm
Keep up the good work. In case you are using any VPS for your trades, it would be better to use small EAs to ensure that the profit is secured and other orders are cancelled/closed when your exit rules meet. Ex: changing the TP of the first order when the second order is executed etc.
For entry part, till you are clear with the rules, you can follow the manual method

I will be watching this thread for your performance.
If possible, put up a consolidated statement with all the trades you took from start of this thread Or try to consolidate the weekly results.

-Chandan
  • #57
  • Oct 19, 2014 10:03pm Oct 19, 2014 10:03pm
Quoting chandan655
Keep up the good work. In case you are using any VPS for your trades, it would be better to use small EAs to ensure that the profit is secured and other orders are cancelled/closed when your exit rules meet. Ex: changing the TP of the first order when the second order is executed etc. For entry part, till you are clear with the rules, you can follow the manual method I will be watching this thread for your performance. If possible, put up a consolidated statement with all the trades you took from start of this thread Or try to consolidate the weekly...
Thanks chandan for sharing your thoughts.
If you look at the 1st post , it displays the entire summary of the trade system.
Striving to Develop & Implement Innovative Ideas
  • #58
  • Oct 19, 2014 10:48pm Oct 19, 2014 10:48pm
Quoting New-Pragati
{quote} On further analysis I have found that the 1st step is the most successful. (10/15) The second step is also successful to some extent.(5/15) The third step has not been activated even once till now. So henceforth will reduce the last step lot and increase the 1st step lot. New lot size in 1st step will be 3000 (0.03) , in the 2nd step will be 5000 (0.05) and in the 3rd step will be 7000 (0.07)
just a thought...
this updated lot sizing not address that if the 3rd step activated, then for the extra risk, there is less extra profit potential then with 1-2 steps, if steps are equally distanced.
step 1...straight profit
step 2...step 1 BE, 0.05 x profit
step 3...step 1 0.03 x loss, step 2 BE, step 3 0.07 x profit = 0.04 x profit

I think if you want to take that 3rd step, and prepared to hold till the 2nd entry price, then 0.08 or more would be the way to go, for at least keeping the profit potential if taking the higher risk.
there is always, always another trade!!
  • #59
  • Oct 19, 2014 11:45pm Oct 19, 2014 11:45pm
Quoting profitfarmer
{quote} just a thought... this updated lot sizing not address that if the 3rd step activated, then for the extra risk, there is less extra profit potential then with 1-2 steps, if steps are equally distanced. step 1...straight profit step 2...step 1 BE, 0.05 x profit step 3...step 1 0.03 x loss, step 2 BE, step 3 0.07 x profit = 0.04 x profit I think if you want to take that 3rd step, and prepared to hold till the 2nd entry price, then 0.08 or more would be the way to go, for at least keeping the profit potential if taking the higher risk.
Thanks for your inputs. Much appreciated.
if you look at the start of this strategy the initial 3rd step lot was 0.20. Then I thought of 0.10 in post 53.
My analysis with the experience of the last 15 trade sets , shows me that step 1 and step 2 are more probable to happen. As for the 3rd step it has not been activated till now. i can improvise it once it starts getting executed. At the moment I am working on 1st and 2nd step profit. The third step I just want to make a little profit for the sake of entering the trade set.
I know 15 trade sets is a very small sample data but I am continuing the trading based on the above strategy and will post till about 100 or more trade sets if it is profitable till then.
Striving to Develop & Implement Innovative Ideas
  • #60
  • Oct 20, 2014 12:46am Oct 20, 2014 12:46am
I think 0.2 was definitely too large.
If for the same of entering have a 3rd step...then I would think a system with max 2 steps would make more sense maybe. Surely a more stable performance, limited risk, limited DD...
But then the question begs about step 2 being undersized a bit, or not in the current way.
Again, just some thoughts, been thru some similar systems in the past myself.
there is always, always another trade!!
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