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Rags to Riches : My Implementation

  • #41
  • Jul 6, 2015 4:07pm Jul 6, 2015 4:07pm
Most of the pairs are playing last week scenario !, will it continue for the rest of the week, I doubt as we have some major news this week.

GOLD

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDrDaily.png Size: 42 KB
No guts, no glory
  • #42
  • Jul 6, 2015 5:20pm Jul 6, 2015 5:20pm
OK, I got some courage and took the first r2R trade, on GBP/AUD. I know there is an AUD risk event this morning (rate decision),
but I couldn't resist the hanging man call.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDrH1.png Size: 36 KB
No guts, no glory
  • #43
  • Jul 6, 2015 6:37pm Jul 6, 2015 6:37pm
Quoting abokwaik
OK, I got some courage and took the first r2R trade, on GBP/AUD. I know there is an AUD risk event this morning (rate decision), but I couldn't resist the hanging man call. {image}
That was fast ... stopped out.
No guts, no glory
  • #44
  • Jul 7, 2015 3:16pm Jul 7, 2015 3:16pm
I noticed the risk percentage input was not taken into lot calculation.
Lot Calc. v3 which considers also Risk Percentage Input.
Attached File(s)
File Type: ex4 Lot_Calculator_03.ex4   6 KB | 323 downloads
No guts, no glory
  • #45
  • Jul 7, 2015 4:28pm Jul 7, 2015 4:28pm
Quoting abokwaik
Most of the pairs are playing last week scenario !, will it continue for the rest of the week, I doubt as we have some major news this week. GOLD {image}
Simply a copy and paste scenario so far on GOLD. Amazing !

update GOLD Daily

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDrDaily.png Size: 41 KB
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  • #46
  • Jul 9, 2015 2:59pm Jul 9, 2015 2:59pm
Gold !!!

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDrH1.png Size: 42 KB


The last hour of Tuesday and Wednesday - Same Shape - Same Size, Lets see if it repeats today !

EDIT : Wednesday not Monday , typo mistake.
No guts, no glory
  • #47
  • Jul 10, 2015 4:59pm Jul 10, 2015 4:59pm
Weekly Update

Attached Image (click to enlarge)
Click to Enlarge Name: r2R_WU_01.png Size: 28 KB
No guts, no glory
  • #48
  • Jul 10, 2015 5:24pm Jul 10, 2015 5:24pm
Analysis of trades taken this week:

 

  1. GBPAUD : Check Post # 40 (Lost)

    1. Mistakes : Counter Trend and Small SL for this volatile pair

  2. EUR/USD: Check Post # 23​ (Lost)

    1. Mistakes : False Break Out

  3. GBP/JPY : Check Post # 31 (Won)
  4. Gold : Running in profit (25% of target).

No guts, no glory
  • #49
  • Jul 16, 2015 1:10pm Jul 16, 2015 1:10pm
Hey man how are you doing with this? Any updates?
  • #50
  • Jul 16, 2015 2:54pm Jul 16, 2015 2:54pm
Rags to Rags
  • #51
  • Jul 17, 2015 7:35am Jul 17, 2015 7:35am
Quoting abokwaik
Small live account with $500 starting balance.
//---


hey khali.... a few months ago when i opened my oanda account somehow i opened 2 by mistake.... have not used one yet, only has 100$ in it.... will begin this 10 or 20 Trades deal with you using that 100.....

will not be following the rags to riches thread rules exactly but some that i think are both achievable and mathematically correct.... it should take me the full 20 trades....

live explorer will be set up today..... my first trade will be to short the eurcad..... utmost precision in entry will be the key.....h
to trade and code, keep both simple... no call to impress....h
  • #52
  • Jul 24, 2015 4:46am Jul 24, 2015 4:46am
Recently I was trading my $100 account with good performance but because of my minimal lot size of 0.01 was far too large for that capital I blown the account after reaching some 800% gain!

A friend, Forex Magic, advised me to try with a cent account where $100 becomes $10000 which solves the minimum lot size issue.

There are some brokers, Roboforex, Instaforex, and certainly others that offer cent accounts. Think about it, it could be a game changer for what you are trying.

Anyway, Best of Luck!
Simplicity is the Ultimate Sophistication.
  • #53
  • Jul 29, 2015 4:20am Jul 29, 2015 4:20am
Quoting ExForX
Hey man how are you doing with this? Any updates?

Been away for a couple of weeks, during which I had a UJ trade running in profit and added to it yesterday. Check Trade Explorer at page top.
No guts, no glory
  • #54
  • Jul 29, 2015 4:23am Jul 29, 2015 4:23am
Quoting Nabz
Rags to Rags
I hope not
No guts, no glory
  • #55
  • Jul 29, 2015 4:30am Jul 29, 2015 4:30am
Quoting hayseed
{quote} //--- hey khali.... a few months ago when i opened my oanda account somehow i opened 2 by mistake.... have not used one yet, only has 100$ in it.... will begin this 10 or 20 Trades deal with you using that 100..... will not be following the rags to riches thread rules exactly but some that i think are both achievable and mathematically correct.... it should take me the full 20 trades.... live explorer will be set up today..... my first trade will be to short the eurcad..... utmost precision in entry will be the key.....h
Good Luck hayseed...

I saw that you had your first loss , I hope you recover on the next trade.
No guts, no glory
  • #56
  • Jul 29, 2015 4:31am Jul 29, 2015 4:31am
Quoting broketrader
Recently I was trading my $100 account with good performance but because of my minimal lot size of 0.01 was far too large for that capital I blown the account after reaching some 800% gain! A friend, Forex Magic, advised me to try with a cent account where $100 becomes $10000 which solves the minimum lot size issue. There are some brokers, Roboforex, Instaforex, and certainly others that offer cent accounts. Think about it, it could...
Thanks,

I think 1:200 which I am currently using will be OK.
No guts, no glory
  • #57
  • Jul 29, 2015 6:19am Jul 29, 2015 6:19am
Quoting abokwaik
{quote} Thanks, I think 1:200 which I am currently using will be OK.
abokwaik, I was not talking about the leverage, I was talking about different account type. Let me explain by an example:

Let's say that according to MM rules the lot size is obtained by dividing the account balance by 20000 just to illustrate the idea. In your case of 5 x 100 sub-accounts you would have for any account 100/20000 = 0.005 which is below the minimum lot size of 0.01 so trading with 0.01 lot size you would be 2x over-leveraged and most important, out of your MM rules.

This is where the cent accounts can help. 500$ deposited in a cent account are displayed as 50000$ (500 x 100) and your 100 sub-account becomes now 10000, if we calculate again our lot size, this time we obtain: 10000/20000 = 0.5

Now, according to your MM rules, trading those 0.5 lots will not put you in a over-leveraged situation, it changes everything and that whats I was trying to illustrate.
Simplicity is the Ultimate Sophistication.
  • #58
  • Aug 22, 2015 5:11am Aug 22, 2015 5:11am
Attached Image
No guts, no glory
  • #59
  • Aug 22, 2015 5:28am Aug 22, 2015 5:28am
Not surprising and highly expected.

There is no "get-rich-quick" formula in Forex.

Fortunately it was a very small account with free bonus money.

Trading should be treated as a business, not as a luck wheel.

While this poor fish died in vaporized bowl water, the bigger shark is still swimming in the open ocean with an 8% monthly return.

I believe 5-10% monthly return (on a large account of course) , averaging 100% annual return, is more than enough for me.

So rich_to_RICHER is far more easier and achievable than rags_to_RICHES.
No guts, no glory
  • #60
  • Last Post: Aug 23, 2015 7:10am Aug 23, 2015 7:10am
Some robots from the robot lab thread could be ran with the 500$ account. Grandsone and stochtrend
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