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  • #301
  • Nov 24, 2014 3:58pm Nov 24, 2014 3:58pm
Quoting fezmar
{quote} No, I am offered a maximum of 10:1, as you can see from the screenshot in the first post.
Yes i know, but it also states that your maximum leverage can be "300:1" correct me if im wrong
Probably the worlds best currency trader.
  • #302
  • Nov 24, 2014 4:02pm Nov 24, 2014 4:02pm
Quoting Wheathermakr
{quote} Yes i know, but it also states that your maximum leverage can be "300:1" correct me if im wrong
I believe that only applies for smaller accounts but the statement remains there regardless, i.e the maximum leverage Dukas could possibly offer some clients would be 300:1. I am not too sure as I manually requested my leverage to be lowered but I highly doubt any broker could offer 300:1 leverage on a 6 digit account.

Perhaps somebody could correct me if I am mistaken.

Fez
  • #303
  • Nov 24, 2014 4:13pm Nov 24, 2014 4:13pm
Quoting fezmar
{quote} I simply do not currently feel comfortable with taking trades with an audience watching at the moment. I will most likely end up second guessing myself and causing a large dent in my account simply to prove myself to others.
As some folk will know I had a TE public when Fez started his thread - which I have now made private. I dscussed my reasons with Fez via PM, that like him, I did not want the pressure of being watched, and I didn't want the 'advice' as to what I should and shouldn't do with positions and how I should never let big winners go south. You just don't need that when trading a live account. But there may be some value in letting people see how this method play out - good times and hard times.

Earlier today I set up another TE on a demo account I started on Sunday to test a new entry method, but using pretty much the same MM as Fez describes. So, with Fez's permission i will make it public while I'm testing it - but out of respect for Fez and his thread I won't be discussing how and why I enter or anything other than the MM (ie when I TP, if I do). I will trade multiple pairs with a fixed lot size (at the moment). Entries, Stops, BE etc won't be discussed as they will be tweaked but primarily becasue that is not what the thread is about and Fez has laid out his method.
  • #304
  • Nov 24, 2014 4:18pm Nov 24, 2014 4:18pm
Quoting hollowhead
{quote} As some folk will know I had a TE public when Fez started his thread - which I have now made private. I dscussed my reasons with Fez via PM, that like him, I did not want the pressure of being watched, and I didn't want the 'advice' as to what I should and shouldn't do with positions and how I should never let big winners go south. You just don't need that when trading a live account. But there may be some value in letting people see how this method play out - good times and hard times. Earlier today I set up another TE on a demo account...
Fantastic. I thank you for your continued presence and contributions. I'm very interested in seeing how this plays out, and will follow closely. Wish you all the best with it.

Fez
  • #305
  • Nov 24, 2014 4:28pm Nov 24, 2014 4:28pm
fezmar,

Thank you for taking the time to share your method of trading. I really appreciate it because you did not have to. Your method opened my eyes to a different style of trading so thank you.

My question to you is that you mentioned you have an American friend who trades similar to you. I am interested in trying your method and am wondering how your friend manages to trade similar to you but having to deal with the FIFO rule.

I am also in the US and I know I have some options with offshore brokers but am curious how your friend does it.

Thank you.

Mykey
  • #306
  • Nov 24, 2014 4:29pm Nov 24, 2014 4:29pm
Quoting Paracelsus
{quote} Without proof the whole theory could be just a college project on how to fool hundreds of people within the shortest period of time... By the way, what is wrong about requesting a MyFxBook link...? Well, the only "wrong" thing might be that it turns out that "the emperor has no clothes"... So to speak... And it might be difficult to digest for all the "hurray" optimists...
http://www.verticalsolutions.com/tools/pl_forecaster_pctwins.html

include your beak evens as a +1 to make it more realistic (i.e cover spread) when considering average win (total $ wins divided by number of wins). Play around with the stats with what Fez has shared and see the potential.
  • #307
  • Nov 24, 2014 4:33pm Nov 24, 2014 4:33pm
Quoting Paracelsus
But I could not care less from my luxury yacht cruising the Caribbean Islands... {image} P.S. If my entries resemble of FxMasterGuru's, it is not a coincidence... Something has happened to his login, so I am "replacing him" for now...
Attached Image (click to enlarge)
Click to Enlarge Name: FXguru.jpg Size: 58 KB


It is my understanding that commercial members are not allowed to post on the regular forums...irrespective of how many identities they have...Oh yeah, that's another no no.
  • #308
  • Nov 24, 2014 4:36pm Nov 24, 2014 4:36pm
Quoting fezmar
{quote} Fantastic. I thank you for your continued presence and contributions. I'm very interested in seeing how this plays out, and will follow closely. Wish you all the best with it. Fez
Ok thanks Fez. It should now be visible - I don't know how to post a link to it, but you should see it in my profile.
  • #309
  • Nov 24, 2014 4:51pm Nov 24, 2014 4:51pm
Quoting hollowhead
{quote} Ok thanks Fez. It should now be visible - I don't know how to post a link to it, but you should see it in my profile.
Hi Hollowhead,
Although Fez told some solutions I suppose one thing we'd better avoid is ranging markets & choosing a pair which can make 500-1000pip moves in the coming months. I'm thinking about Gold which I trade regularly right now, what do you think? trading H4 I thinking a moving market is essential otherwise the pain being caught in a range is hard.
Yours
  • #310
  • Nov 24, 2014 4:59pm Nov 24, 2014 4:59pm
Quoting spyderman
{quote} {image} It is my understanding that commercial members are not allowed to post on the regular forums...irrespective of how many identities they have...Oh yeah, that's another no no.
did u tell twee?
If you are good at something, never do it for free--Joker
  • #311
  • Nov 24, 2014 5:00pm Nov 24, 2014 5:00pm
Quoting jmn5611
{quote} did u tell twee?
  • #312
  • Edited 5:20pm Nov 24, 2014 5:06pm | Edited 5:20pm
Quoting spyderman
{quote}
Yes, yes...! Let's run to Twee...! Lets run to Twee...! You should have stayed in Kindergarten Spyderman... with your Spyderman toys...

Anyway this money management method has very slight credibility until placed in practice with some evidence that it can REALLY work. A 5 pips SL will kick out practically all trades before reaching 200.

Has anybody ever accumulated some REAL and VERIFIABLE profits with this method...?? I guess NOT. It is just a NICE theory... At least until some VERIFIED proof shows up. But don't hold your breath...
  • #313
  • Nov 24, 2014 5:15pm Nov 24, 2014 5:15pm
I have a -maybe banal- question, mostly it's just curiosity, as it's not strictly connected to the money-management system, but about the 'entries' ...
Do you happen to re-open a position that just barely hit hard-SL of (let's say) -5 , or you just skip it to the next setup ?

I've been simulating this on a simulator with great results, anybody can easily try it out with this free sym : http://www.fxblue.com/appstore/app.aspx?id=39

One crucial point is that, maybe for my poor entry-signals, I get stopped out but my signal remains valid. Shall I re-enter? shall I not ? ...

It's pure curiosity eh, I completely understand the entry-rules are totally a different level of discussion from the point you're making with your excellent exposition of your MM system, which I thank you once again for.

cheers
Lorenzo
  • #314
  • Nov 24, 2014 5:22pm Nov 24, 2014 5:22pm
Quoting spyderman
{quote}
Got this from Paracelus via PM...... Paracelsus (http://www.forexfactory.com/paracelsus)
Have you graduated from kindergarden yet...?

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Have you graduated from kindergarden yet...? I guess, not...

Just wanted the entire forum to know what we are dealing with here. Can't even spell kindergarten right....

If you are good at something, never do it for free--Joker
  • #315
  • Nov 24, 2014 5:25pm Nov 24, 2014 5:25pm
Quoting Paracelsus
{quote} Yes, yes...! Let's run to Twee...! Lets run to Twee...! You should have stayed in Kindergarten Spyderman... with your Spyderman toys...


Quoting Paracelsus
{quote} A 5 pips SL will kick out practically all trades before reaching 200.
Very good point. Same one Fez mentioned several times.

Quoting Paracelsus
{quote}It is just a NICE theory... At least until some VERIFIED proof shows up. But don't hold your breath...
Not that its VERIFIED...but have you read Graeme's thread?
  • #316
  • Nov 24, 2014 5:42pm Nov 24, 2014 5:42pm
Quoting Paracelsus
{quote} Yes, yes...! Let's run to Twee...! Lets run to Twee...! You should have stayed in Kindergarten Spyderman... with your Spyderman toys... Anyway this money management method has very slight credibility until placed in practice with some evidence that it can REALLY work. A 5 pips SL will kick out practically all trades before reaching 200. Has anybody ever accumulated some REAL and VERIFIABLE profits with this method...?? I guess NOT. It is just a NICE theory... At least until some VERIFIED proof shows up. But don't hold your breath...
On a 5 minute timeframe chart a 5 pip stop loss is actually very reasonable. Many of my entries have a 1 pip drawdown only, before going to a 1:1 risk reward allowing me to set them to breakeven.

With regard to "practically all" trades hitting the stop, my own experience (and statistics) will show that around one in 40 trades or 2.5% will hit 200 pips. I have already provided an example of the profitability but just for the sake of this debate I will provide one more, with different numbers.

I have just shown you that, even if the market were completely random (it most certainly isn't) we can expect 2.5% of trades to go for 200 pips with a 5 pip stop.

Let us assume I have the ability to get at least half of my entries to breakeven (something which I have mentioned more times in this thread than I care to count)

Out of 200 trades, I can expect, purely by statistical probabilities in a random market that 5 of my entries will hit 200 pips. Meaning a gross 1,000 pips. Half of my entries I got to breakeven, leaving me with 100 losers, at 6 pips each (accounting for spread) = 600 pips lost.

By way of simple calculation that we can see that we have made a net 400 pips, in a market assumed to be random, with the simple ability of getting half of our stops to breakeven.

Naturally with the existence of trends we can expect this percentage success to climb higher, and these days I can get 60% or more of my entries to breakeven, leaving me with a much greater profit margin.

I do realise that this will not be enough for you, and that you will demand proof. In my very first post I already predicted this would happen (atleast my post predictions exceed my market predictions) and I have said that I do not feel comfortable showing my own personal trades, or trading infront of an audience. Several members have posted proof, with Hollowhead actually having a live explorer showing over 700% gain following a method virtually identical to my own. He had to close this due to the constant pessimism of members such as yourself, and has now once again had the courage to open another explorer to a demo account to prove the profitability.

I sincerely hope you can begin to open your mind slightly.

Fez
  • #317
  • Edited 5:47pm Nov 24, 2014 5:46pm | Edited 5:47pm
Quoting lorbax
I have a -maybe banal- question, mostly it's just curiosity, as it's not strictly connected to the money-management system, but about the 'entries' ... Do you happen to re-open a position that just barely hit hard-SL of (let's say) -5 , or you just skip it to the next setup ? I've been simulating this on a simulator with great results, anybody can easily try it out with this free sym : http://www.fxblue.com/appstore/app.aspx?id=39 One crucial point is that, maybe for my poor entry-signals, I get stopped out but my signal remains valid....
Thankyou for your question. The 5 pip stop is a part of my own discretionary entry. It allows me to get atleast half of my trades to breakeven. If you cannot do this with a 5 pip stop, widen your stop.

I personally do not re enter the market. I buy and sell at short timeframe support and resistance. Should my stop get hit I will wait for another setup. Hope this answers your question.

Fez
  • #318
  • Nov 24, 2014 5:56pm Nov 24, 2014 5:56pm
Finally read through to the present. I think the major key to this strategy is the very high R:R ratio, as well as the tight SL. Therefore,


I imagine an EA could be programmed quite easily to take advantage of this. Even in the US, an identical strategy could be performed if you ignore your broker's accounting. After all, FIFO and no-hedge restrictions have zero effect on the your actual account balance; I won't deny that they make trade entry and management much more cumbersome though.

In an EA, I would probably also move the stop to BE+5 at +20 pips or so. I doubt it would greatly affect the W:L ratio, but it would offset some of the losses.
  • #319
  • Nov 24, 2014 6:01pm Nov 24, 2014 6:01pm
Quoting joelmusicman
I imagine an EA could be programmed

Page 16. Not bad...
  • #320
  • Nov 24, 2014 6:09pm Nov 24, 2014 6:09pm
When you first started trading this method on that one currency pair, typically how many positions did you open per trading session?
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