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Magnetic Target Zone with Capped Martingale

  • #101
  • Oct 31, 2014 1:22am Oct 31, 2014 1:22am
Today's Seventh Trade :

AUDJPY (G1) : sell 0.03 lot at 97.52. TP 97.05. SL post 3rd Martingale. Next Level sell 0.05 lot at 98.12 (G2) if TP not hit on above trade (G1) and goes further up. TP at this level will be 97.52 (All AUDJPY trades closed) Last Level sell 0.07 lot at 98.72 (G3) if TP not hit on the above trade (G2) and goes further up. TP at this level will be 98.12. (All AUDJPY trades closed) If the pair continues rising then SL of all above trades (G1 , G2 , G3) will be 99.00.
Striving to Develop & Implement Innovative Ideas
  • #102
  • Oct 31, 2014 2:53am Oct 31, 2014 2:53am
Quoting New-Pragati
Today's Second Trade : GBPJPY (B1) : sell 0.03 lot at 176.14. TP 175.50. SL post 3rd Martingale. Next Level sell 0.05 lot at 176.94 (B2) if TP not hit on above trade (B1) and goes further up. TP at this level will be 176.14 (All GBPJPY trades closed) Last Level sell 0.07 lot at 177.74 (B3) if TP not hit on the above trade (B2) and goes further up. TP at this level will be 176.94. (All GBPJPY trades closed) If the pair continues rising then SL of all above trades (B1 , B2 , B3) will be 178.00.
The above trade got closed in loss of $117.12 (step 1 + step 2 + step 3 trades + charges). manual stop loss used.
Attached Image (click to enlarge)
Click to Enlarge Name: proof 22.jpg Size: 41 KB
Striving to Develop & Implement Innovative Ideas
  • #103
  • Oct 31, 2014 6:18am Oct 31, 2014 6:18am
Quoting New-Pragati
Today's First Trade : USDJPY (A1) : sell 0.03 lot at 110.24. TP 109.60. SL post 3rd Martingale. Next Level sell 0.05 lot at 110.84 (A2) if TP not hit on above trade (A1) and goes further up. TP at this level will be 110.24 (All USDJPY trades closed) Last Level sell 0.07 lot at 111.44 (A3) if TP not hit on the above trade (A2) and goes further up. TP at this level will be 110.84. (All USDJPY trades closed) If the pair continues rising then SL of all above trades (A1 , A2 , A3) will be 111.70.
The above trade also closed in loss of $94.15 (step 1 + step 2 + step 3 trades + charges). manual stop loss used.)
Attached Image (click to enlarge)
Click to Enlarge Name: proof 23.jpg Size: 41 KB
Striving to Develop & Implement Innovative Ideas
  • #104
  • Nov 3, 2014 7:53am Nov 3, 2014 7:53am
Quoting New-Pragati
Today's third Trade : CHFJPY (C1) : sell 0.03 lot at 115.41. TP 114.90. SL post 3rd Martingale. Next Level sell 0.05 lot at 116.01 (C2) if TP not hit on above trade (C1) and goes further up. TP at this level will be 115.41 (All CHFJPY trades closed) Last Level sell 0.07 lot at 116.61 (C3) if TP not hit on the above trade (C2) and goes further up. TP at this level will be 116.01. (All CHFJPY trades closed) If the pair continues rising then SL of all above trades (C1 , C2 , C3) will be 116.85.
Quoting New-Pragati
Today's Fourth Trade : EURJPY (D1) : sell 0.03 lot at 139.39. TP 138.90. SL post 3rd Martingale. Next Level sell 0.05 lot at 140.19 (D2) if TP not hit on above trade (D1) and goes further up. TP at this level will be 139.39 (All EURJPY trades closed) Last Level sell 0.07 lot at 140.99 (D3) if TP not hit on the above trade (D2) and goes further up. TP at this level will be 140.19. (All EURJPY trades closed) If the pair continues rising then SL of all above trades (D1 , D2 , D3) will be 141.25.
Quoting New-Pragati
Today's Fifth Trade : CADJPY (E1) : sell 0.03 lot at 98.96. TP 98.46. SL post 3rd Martingale. Next Level sell 0.05 lot at 99.56 (E2) if TP not hit on above trade (E1) and goes further up. TP at this level will be 98.96 (All CADJPY trades closed) Last Level sell 0.07 lot at 100.16 (E3) if TP not hit on the above trade (E2) and goes further up. TP at this level will be 99.56. (All CADJPY trades closed) If the pair continues rising then SL of all above trades (E1 , E2 , E3) will be 100.40.
Quoting New-Pragati
Today's Sixth Trade : NZDJPY (F1) : sell 0.03 lot at 86.83. TP 86.30. SL post 3rd Martingale. Next Level sell 0.05 lot at 87.43 (F2) if TP not hit on above trade (F1) and goes further up. TP at this level will be 86.83 (All NZDJPY trades closed) Last Level sell 0.07 lot at 88.03 (F3) if TP not hit on the above trade (F2) and goes further up. TP at this level will be 87.43. (All NZDJPY trades closed) If the pair continues rising then SL of all above trades (F1 , F2 , F3) will be 88.30.
Quoting New-Pragati
Today's Seventh Trade : AUDJPY (G1) : sell 0.03 lot at 97.52. TP 97.05. SL post 3rd Martingale. Next Level sell 0.05 lot at 98.12 (G2) if TP not hit on above trade (G1) and goes further up. TP at this level will be 97.52 (All AUDJPY trades closed) Last Level sell 0.07 lot at 98.72 (G3) if TP not hit on the above trade (G2) and goes further up. TP at this level will be 98.12. (All AUDJPY trades closed) If the pair continues rising then SL of all above trades (G1 , G2 , G3) will be 99.00.
All the above trades closed in loss of $497.29.
So hence overall status is loss of $500 approximately.
Striving to Develop & Implement Innovative Ideas
  • #105
  • Nov 3, 2014 8:07am Nov 3, 2014 8:07am
The status of all trades so far is : ( details of post 1 as on 3rd November , 2014. It is mentioned for my knowledge here as I will modifying the system this week.)
The system has the following characteristics :
1. It requires the ADR/ATR of the currencies to be traded for the last 1 or more years.
2. It has to be automatically executed as it is very strenuous to take manual trades based on this system.
3. It is based on 3 day Moving Average which I guess very few or maybe no traders use.
4. It consists of a Capped Martingale system to avoid or minimize risk of margin call.

I am looking for help from the experienced and helpful traders to help me in my search for developing and testing this system.
I will use this thread as my Trading Journal.
I request all to please share your knowledge and your kind actions will be sincerely appreciated.
Post 8 is important for updated strategy knowledge. Strategy updated on post #53 & #54 on 17th October,2014.

Here is the updated monetary result of all trades so far:
Details of each individual trade can be found in the posts below:
Profit = $214.60 (after deducting commissions and adding/deducting swap)
Loss = $712.95 (after adding commissions and adding/deducting swap)
Net Profit or Loss = -$498.35
Summary of Trade Sets : (Refer to Post 15)
1. Total no. of Trade Sets Profitable = 20/27 (74%).
2. Total no. of Trade Sets profitable in 1st Step =15/27 (56%) .
3. Total no. of Trade Sets profitable in 2nd Step = 5/27 (19%).
4. Total no. of Trade Sets profitable in 3rd Step = 0/27 .
5. Total no. of Loss Trade Sets = 7/27 (26%).

I will start the modified version in a few days after analysis of all trades.
Striving to Develop & Implement Innovative Ideas
  • #106
  • Nov 4, 2014 10:06pm Nov 4, 2014 10:06pm
Currently this strategy is under review and modification. there will be no posts here for the next few days/weeks/months. I am onto some crazy trading in the meanwhile.
Once the crazy trading is done either in profits or loss then I will start posting here again.
Striving to Develop & Implement Innovative Ideas
  • #107
  • Nov 8, 2014 11:32am Nov 8, 2014 11:32am
Quoting New-Pragati
{quote} {quote} {quote} {quote} {quote} All the above trades closed in loss of $497.29. So hence overall status is loss of $500 approximately.
Hi, New- Pragati,

I came to know about your trades in these YEN pairs, you lost almost 500$ in these.
There were some errors which made these trades fail.
1- You were trading against the Major trend. (UPtrend)
2- You were trading against Major news flow. (QE)
3- You were trading trading impulse ( no downside movement seen at there in chart even in 5 minute or 1 minute chart.

Hope you would consider these facts for future.
thanks
  • #108
  • Nov 9, 2014 3:48am Nov 9, 2014 3:48am
Quoting esanjayplaye
{quote} Hi, New- Pragati, I came to know about your trades in these YEN pairs, you lost almost 500$ in these. There were some errors which made these trades fail. 1- You were trading against the Major trend. (UPtrend) 2- You were trading against Major news flow. (QE) 3- You were trading trading impulse ( no downside movement seen at there in chart even in 5 minute or 1 minute chart. Hope you would consider these facts for future. thanks
You are very Right . Thanks for your feedback.
My system was not supposed to be used during very big news events like any QE starting/increasing or ending/decreasing , IR rise or fall , any major catastrophic events , etc. (mentioned in initial posts).
fault was lack of self discipline and avoiding trading on the day.
I will definitely consider this on future trading.
Striving to Develop & Implement Innovative Ideas
  • #109
  • Nov 9, 2014 3:58am Nov 9, 2014 3:58am
One thing I have noticed during these years of trading that Martingale strategy won't work on Yen pairs. This is just my opinion
Money never sleeps I can hear the dollar calling me
  • #110
  • Nov 9, 2014 4:07am Nov 9, 2014 4:07am
Quoting shivam332
One thing I have noticed during these years of trading that Martingale strategy won't work on Yen pairs. This is just my opinion
You may be very correct in your assumption and conclusion however I beg to differ in my system as it was lack of discipline from my end.

Quoting New-Pragati
{quote}This method will generally work but when there is any very, very high impact news or developments then the SL of the 3rd trade will be hit causing all the trades to be closed in loss. Hence during such events I will avoid trading. Planned news events can be avoided however unplanned news cannot be avoided and on those days losses has to be incurred. The overall performance of profit and loss has to be seen.
I traded on a big news event day where BOJ increased forther QE.
Need to avoid such days.
Striving to Develop & Implement Innovative Ideas
  • #111
  • Nov 9, 2014 4:27am Nov 9, 2014 4:27am
Quoting New-Pragati
{quote} You may be very correct in your assumption and conclusion however I beg to differ in my system as it was lack of discipline from my end. {quote} I traded on a big news event day where BOJ increased forther QE. Need to avoid such days.
I agree but this strategy will work on all other pairs but it won't on Yen as all yen pairs are very sensitive.
I have used Martingale strategy in past and it didn't work on any yen pair, however it worked best on EURUSD for me, this strategy is very profitable if you know how to use it
Yen pairs might work for you.
Wish you lots of pips with your strategy
Money never sleeps I can hear the dollar calling me
  • #112
  • Nov 9, 2014 4:30am Nov 9, 2014 4:30am
Quoting shivam332
{quote} I agree but this strategy will work on all other pairs but it won't on Yen as all yen pairs are very sensitive. I have used Martingale strategy in past and it didn't work on any yen pair, however it worked best on EURUSD for me, this strategy is very profitable if you know how to use it Yen pairs might work for you. Wish you lots of pips with your strategy
Thanks for sharing your conclusion of your many years of observation.
Striving to Develop & Implement Innovative Ideas
  • #113
  • Nov 9, 2014 4:31am Nov 9, 2014 4:31am
This system has failed so far in its current form. The 3rd step was activated a couple of times but all closed in SL resulting in huge loss. The profits attained by this system over many trades were lost in only a few losing trades.
Ideally at this stage the most logical thing to do would be to get rid of the 3rd step trade and cap the system into 2 steps . However it may also be a one time scenario occuring once in a while.(unexpectedly BOJ providing extensive added quantitive easing) To not jump to speedy conclusions now I would still keep the 3rd step of the trade . I will reduce the 3rd step lot size and keep track of more sample data.Henceforth lot size would be 3000 (0.03) in 1st step , 5000 (0.05) in second step and 5000 (0.05) in 3rd step.
More thinking and planning needed in this.
Striving to Develop & Implement Innovative Ideas
  • #114
  • Nov 9, 2014 4:44am Nov 9, 2014 4:44am
Quoting New-Pragati
{quote} Thanks for sharing your conclusion of your many years of observation.
Cheers and wish you lots of pips
Money never sleeps I can hear the dollar calling me
  • #115
  • Nov 9, 2014 4:49am Nov 9, 2014 4:49am
Quoting shivam332
{quote} Cheers and wish you lots of pips
I too wish you many pips in your trading.
Striving to Develop & Implement Innovative Ideas
  • #116
  • Last Post: Nov 9, 2014 5:00am Nov 9, 2014 5:00am
Quoting New-Pragati
{quote} I too wish you many pips in your trading.
Thank you
Money never sleeps I can hear the dollar calling me
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