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  • #5,381
  • Nov 22, 2014 1:39am Nov 22, 2014 1:39am
Quoting ghost walker
{quote} Hi Steve, Would you mind please putting up for us a blank of the above spread sheet for those of us who would like to use it, Joy to ya my friend, GW
Hi ghost walker;

I've added the excel template, below, that I use, I am using Microsoft Excel:mac2011 so not sure if it will work on Windows machines.

I am not, in anyway, an expert in excel and I'm sure there are many people out there who can do a far more professional job than I have.

I have included some trades so you can get an idea of what needs to be done, that's not my trading balance by the way.
Attached File(s)
File Type: xlsx Trading Results Template.xlsx   64 KB | 754 downloads
  • #5,382
  • Nov 22, 2014 1:48am Nov 22, 2014 1:48am
Thank you...it is working at windows too....
  • #5,383
  • Nov 22, 2014 2:03am Nov 22, 2014 2:03am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting stevepatt
{quote} Hi ghost walker; I've added the excel template, below, that I use, I am using Microsoft Excel:mac2011 so not sure if it will work on Windows machines. I am not, in anyway, an expert in excel and I'm sure there are many people out there who can do a far more professional job than I have. I have included some trades so you can get an idea of what needs to be done, that's not my trading balance by the way. {file}
Thank you Steve

I may be wrong but I think that you are missing a very important thing in your calculations : the pip value for the pairs.
MT4/MT5 EAs/Indicators/Alerts coder
  • #5,384
  • Nov 22, 2014 2:42am Nov 22, 2014 2:42am
Quoting stevepatt
{quote} Hi ghost walker; I've added the excel template, below, that I use, I am using Microsoft Excel:mac2011 so not sure if it will work on Windows machines. I am not, in anyway, an expert in excel and I'm sure there are many people out there who can do a far more professional job than I have. I have included some trades so you can get an idea of what needs to be done, that's not my trading balance by the way. {file}
Steve ,again,thank you very much for your time,
GW
IMPROVISE ADAPT OVERCOME
  • #5,385
  • Nov 22, 2014 3:03am Nov 22, 2014 3:03am
Quoting FerruFx
{quote} Thank you Steve I may be wrong but I think that you are missing a very important thing in your calculations : the pip value for the pairs.

Hi FerruFx;

Can you elaborate on this please and show me how to incorporate into my spread sheet.

I'm no maths or spread sheet expert so any help would be appreciated.
  • #5,386
  • Nov 22, 2014 3:15am Nov 22, 2014 3:15am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting stevepatt
{quote} Hi FerruFx; Can you elaborate on this please and show me how to incorporate into my spread sheet. I'm no maths or spread sheet expert so any help would be appreciated.
I did look very quickly but I noticed that in your $ return calculation you take only the lot size and the pips earned (or lost) ... without taking in consideration the pip value.

Example : 10 pips gain on EURUSD with 1 lot won't give you the same $ gain than 10 pips gain on USDJPY with 1 lot ... because their pips value is different.

Also the lot size calculation should take this in consideration.
MT4/MT5 EAs/Indicators/Alerts coder
  • #5,387
  • Nov 22, 2014 4:01am Nov 22, 2014 4:01am
Quoting FerruFx
{quote} I did look very quickly but I noticed that in your $ return calculation you take only the lot size and the pips earned (or lost) ... without taking in consideration the pip value. Example : 10 pips gain on EURUSD with 1 lot won't give you the same $ gain than 10 pips gain on USDJPY with 1 lot ... because their pips value is different. Also the lot size calculation should take this in consideration.

Hi FerruFx;

I see what you mean but I'm trading through a spread betting account in the UK so my pips earned (or lost) * my lot size is my return (or loss) £ amount no matter which pair I'm trading.

If anyone knows how to incorporate this into a spread sheet it would be very useful.

Keeping records, like this, might not seem very important if you are still looking for a winning method to trade.

But with accurate records you will get a good idea of what to expect by way of return from your method.

You will know that your trading edge delivers a positive expectancy (or not) and this will give you the confidence to keep trading your method even during periods of draw down.

It's also a good idea to keep a record of maximum draw down and the maximum return each trade achieved to help with setting SL and TP levels.

Keeping a written account of each trade also helps.
  • #5,388
  • Nov 22, 2014 4:04am Nov 22, 2014 4:04am
Quoting FerruFx
{quote} I did look very quickly but I noticed that in your $ return calculation you take only the lot size and the pips earned (or lost) ... without taking in consideration the pip value. Example : 10 pips gain on EURUSD with 1 lot won't give you the same $ gain than 10 pips gain on USDJPY with 1 lot ... because their pips value is different. Also the lot size calculation should take this in consideration.
Hi,

This is not a real pip value as it works on average of lot sizes, it just gives an average value in general.
You will need a look up value table with all pairs pip values to give you the exact value.

take care

have a nice weekend.
  • #5,389
  • Nov 22, 2014 5:02am Nov 22, 2014 5:02am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting stevepatt
I'm trading through a spread betting account in the UK so my pips earned (or lost) * my lot size is my return (or loss) £ amount no matter which pair I'm trading.
Of fine ... I had a part of the equation missing !!! So yes your sheet is really perfect for this. Great job.
MT4/MT5 EAs/Indicators/Alerts coder
  • #5,390
  • Nov 22, 2014 5:03am Nov 22, 2014 5:03am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Helee
You will need a look up value table with all pairs pip values to give you the exact value.
That was the point ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #5,391
  • Nov 22, 2014 6:29am Nov 22, 2014 6:29am
Hey!

USDCAD Daily, 4H, 1H
I think that is a realy perfect Short.

Break out from the last "trend box". Re-touch the last resistance area. Inside pin bar after the bullish re-touch bar. Breaked my trend bar. .....

But now weekend and the monday coming. Should i trade this? Or wait until monday afternoon. ( cos of weekend and monday news)

Million pips for the next week
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADmonday.jpg Size: 771 KB
  • #5,392
  • Nov 22, 2014 1:08pm Nov 22, 2014 1:08pm
Quoting stevepatt
{quote} Hi ghost walker; I've added the excel template, below, that I use, I am using Microsoft Excel:mac2011 so not sure if it will work on Windows machines. I am not, in anyway, an expert in excel and I'm sure there are many people out there who can do a far more professional job than I have. I have included some trades so you can get an idea of what needs to be done, that's not my trading balance by the way. {file}
Hi Steve. I´m enclosing the spreadsheet I use. You can see how fast the account grows with 20 pips per day goal and 2% risk per trade. Even 10 pips per day increases your account by 11 times per year. That is the magic of compounding...
Attached File(s)
File Type: xlsx Alorente Excel Trading Sheet.xlsx   360 KB | 1,445 downloads
Observation is the path to discovery.
  • #5,393
  • Nov 22, 2014 4:46pm Nov 22, 2014 4:46pm
Quoting Alorente
{quote} Hi Steve. I´m enclosing the spreadsheet I use. You can see how fast the account grows with 20 pips per day goal and 2% risk per trade. Even 10 pips per day increases your account by 11 times per year. That is the magic of compounding... {file}
Alorente, words cannot possibly express my sincere gratitude for sharing your spreadsheet. If you ever get to Aussie, I will buy you a beer!! Wow this is exactly what I was about to start working on but as I am not that gifted with Excel I knew it would take time. Thank you
  • #5,394
  • Nov 22, 2014 11:12pm Nov 22, 2014 11:12pm
Quoting Alorente
{quote} Hi Steve. I´m enclosing the spreadsheet I use. You can see how fast the account grows with 20 pips per day goal and 2% risk per trade. Even 10 pips per day increases your account by 11 times per year. That is the magic of compounding... {file}


I have also given similar type of excel sheet a crude one in post number #358, but I have not considered resticting the lot size to any number. however most brokers have a restriction of 500 lots per trade as a maximum lot size.

Even then, it is worth noticing the power of compounding. It is really that easy, but trading is not!!!
  • #5,395
  • Nov 23, 2014 2:47am Nov 23, 2014 2:47am
Quoting civilpes2001
{quote} Even then, it is worth noticing the power of compounding. It is really that easy, but trading is not!!!
Compounding looks very good in excel but we have to remember that we have also many losses in our trading. So, if we increase our lot size then also our losses become bigger and by every loss we fall back in excel calculations.
For me, compounding is a strange idea as I am trading for living and not for pension plan. I keep constant sum of money on my account and take my wins out every month or even week. Risk and reward are both quite stable.
How many people are there who would be mentally ready to trade even 10 lots per every trade, not speaking about 100? They exist only in forums like FF. Most of them are demo traders, some even not trading but planning some fraud
  • #5,396
  • Nov 23, 2014 3:03am Nov 23, 2014 3:03am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Indrek
{quote} Compounding looks very good in excel but we have to remember that we have also many losses in our trading. So, if we increase our lot size then also our losses become bigger and by every loss we fall back in excel calculations. For me, compounding is a strange idea as I am trading for living and not for pension plan. I keep constant sum of money on my account and take my wins out every month or even week. Risk and reward are both quite stable. How many people are there who would be mentally ready to trade even 10 lots per every trade, not...
Exactly. Compounding should be only used at the beginning until the capital needed to generate a reasonable income is reached. But the biggest error traders do in compounding is to increase the lot size as the account balance increase (recalculated each trade). The safest way is to increase the lot only once doubled/trippled the balance ... and so on.
MT4/MT5 EAs/Indicators/Alerts coder
  • #5,397
  • Nov 23, 2014 4:04am Nov 23, 2014 4:04am
Quoting Indrek
{quote} Compounding looks very good in excel but we have to remember that we have also many losses in our trading. So, if we increase our lot size then also our losses become bigger and by every loss we fall back in excel calculations. For me, compounding is a strange idea as I am trading for living and not for pension plan. I keep constant sum of money on my account and take my wins out every month or even week. Risk and reward are both quite stable. How many people are there who would be mentally ready to trade even 10 lots per every trade, not...
you are right about the pension plan, i think one can do both, one account for living and another account for pension plan. And when we increase the lot size the risk % will always be the same and also the loss % too unless the SL vary differently... so once the acount increases to certain target, increase the lot size keeping in mind that the % of risk would remain the same or less..
  • #5,398
  • Nov 23, 2014 4:07am Nov 23, 2014 4:07am
Quoting FerruFx
{quote} Exactly. Compounding should be only used at the beginning until the capital needed to generate a reasonable income is reached. But the biggest error traders do in compounding is to increase the lot size as the account balance increase (recalculated each trade). The safest way is to increase the lot only once doubled/trippled the balance ... and so on.
Agreed. exactly my view.
  • #5,399
  • Nov 23, 2014 4:19am Nov 23, 2014 4:19am
Quoting Alorente
{quote} Hi Steve. I´m enclosing the spreadsheet I use. You can see how fast the account grows with 20 pips per day goal and 2% risk per trade. Even 10 pips per day increases your account by 11 times per year. That is the magic of compounding... {file}

Hi Alorente;

Thank you for the spreadsheet far more sophisticated than my effort.

I'm more inclined to go down this route http://www.forexfactory.com/showthread.php?t=514127 …..
  • #5,400
  • Edited 7:11am Nov 23, 2014 6:35am | Edited 7:11am
Quoting FerruFx
{quote} Exactly. Compounding should be only used at the beginning until the capital needed to generate a reasonable income is reached. But the biggest error traders do in compounding is to increase the lot size as the account balance increase (recalculated each trade). The safest way is to increase the lot only once doubled/trippled the balance ... and so on.
I agree with you, Ferru.

For me. the ideal method is to decide on the balance you want your account to reach. Let´s say you decide to increase the account to $50,000 using 100% compounding. Once that level is achieved, you withdraw every month 1/2 of your profit and leave the other 1/2 to increase the account balance. If you are achieving 1% daily return, which is half of that expressed in the spreadsheet, that will generate about $12,000 profit after the first month. You withdraw 1/2 and let the rest compound. You should be able to live adequately with $6,000 per month. Of course, as the balance grows, your monthly salary will also grow.

The key is to play it safe and try to achieve a consistent 20 pips daily with only a 1% risk per trade or 10 pips daily with 2% risk per trade (my preferred method). After you achieve those pips, you stop trading for the day. Since you only need 10 pips, you have the luxury to patiently wait for the perfect trade. If you are disciplined and patient and don´t make impulsive and bad decisions, the numbers in the spreadsheet are not difficult to achieve.
Observation is the path to discovery.
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