Capital Weightlifting Championship | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The Automated Trading Championship 2007 Is Over! 0 replies

Automated Trading Championship 2007: New Challenge! 33 replies

Automated Trading Championship 2007 5 replies

2006 Automated Trading Championship 49 replies

Practice Makes Perfect Trading Championship Leaderboard 6 replies

Attachments: Capital Weightlifting Championship
Exit Attachments

Capital Weightlifting Championship

  • #121
  • Sep 28, 2015 6:31am Sep 28, 2015 6:31am
Quoting rolandW
I have been having a bit of an issue with my brain recently, and have been 'trying' some stuff out on my MMR2R account... a bit silly! On top of that, my trading style is on where i usually calculate my SL, and then that gives me my %risk, and i then usually try to target S/R... At the moment, that has sort of flipped where I try to look for my profit exit and then calculate my SL... which means more losers than winners (just because of my strategy... However, i believe that i have ironed some of these issues out and have set up my charts to give...

Yo rolondW,
It does take time to adjust to 2:1 trading. The way I set up my trades is to watch for the S/R levels for my SL with a rough range I want my trades to work within. I personally usually aim for a 25-50 pip SL depending on the pair and current volatility. If I am trading GJ, I probably don't want to trade with a 25pip SL because normally the pair is quite volatile and could easily take the stop with 2x 1 minute candles. On the other hand I don't (normally) want to trade EG with a 50 pip SL because I could be waiting a week for it to complete (that said EG is quite volatile for the pair atm). Once I have the range and my S/R that I want the trade to be covered by I use a Lot calculator to figure the R:R for me. http://www.babypips.com/tools/forex-...sitionsize.php Once this is done I let the TP take care of itself and more often than not it actually ends up in a desirable location. I will also monitor the trades ie B.E. TS 50% etc when I think appropriate. Hope this helps.

I'd be carful about trying to do too much. I have been down that road before and trying to follow too many trades at one time can become quite difficult. Also if a trade reaches lvl 2 or lvl 3 as you mentioned, it will reduce your margin on your account considerably. I am still in contemplation process with a second account but I am wary of DD if both Trading accounts experience losses. At the end of the day if 1 account is perfected with continual trading and progress then it should be all that is needed to complete the strategy. Don't let me dissuade you however, if you think your on to something go for it

GL,
Matt
As the lights go by so too do the shadows move
  • #122
  • Sep 28, 2015 6:36am Sep 28, 2015 6:36am
Quoting spyderman
Seems to me if you wanted to employ this on multiple pairs that it would be best to treat each pair as it's own series using multiple sub-accounts. You could then sweep them to the main account.
That would be a good idea, it would negate the worry of a margin call from trades going under and killing the good ones.
As the lights go by so too do the shadows move
  • #123
  • Sep 28, 2015 9:15am Sep 28, 2015 9:15am
Having a bit of a rough ride on the TE today. Should have waited for the first UJ pullback before BE. Instead I re-entered EU bear and lost where I should of won UJ. It's the way the cookie crumbles sometimes.
As the lights go by so too do the shadows move
  • #124
  • Sep 28, 2015 7:20pm Sep 28, 2015 7:20pm
Hey Matts,

Do you have the an excel file for the trade journal that you have the pic of in Post #1.

Thanks
  • #125
  • Sep 28, 2015 11:46pm Sep 28, 2015 11:46pm
Quoting spyderman
Hey Matts, Do you have the an excel file for the trade journal that you have the pic of in Post #1. Thanks
Yo spydy,

I made that for presentation only with barely any formula... though looking at it it looks like a good setup, I may yet take that on.

Currently I have another for my live results that is basically the same as the test sheet. The linked sheet only needs an individual trade profit column from the Trading account (copy pasted directly from MT4 detailed report) but also includes a "net trade" indicator column. The formula is a bit messy (repetitive) but it is only referencing 2 cells on the capital weightlifting sheet. It is also based on using two accounts (though only references the trading account), I am still setting up a "1 account" sheet (for the TE). If your slightly savvy in excel then it wont take long to set up. If your interested I'll shoot you a PM.

Otherwise I may yet give that opening sheet a whirl.

Cheers,
Matt.
As the lights go by so too do the shadows move
  • #126
  • Edited 11:17am Sep 29, 2015 11:06am | Edited 11:17am
I am having a problem with my TP's using this system. About once every 5 trades I miss my TP by less than 3 pips and even within micro lots... After 50-80pip moves this can very frustrating. As I mentioned in my journal I have being toying with an idea to counter the near miss.

I have being thinking of using a second entry about 30% into the trade. By this time I am normally fairly confident that the BO is true and I often reduce my SL at this point. If I use a second entry and reduce the SL so it still has the 2:1 R:R I will be able to reduce the TP level bringing it closer into range. It becomes a little more risky I suppose, bringing in the SL but it is actually rare that this stop is hit as its often on the other side of BO region so if it breaks back above here the trade is likely to fail anyway.

TE GU trade.
non-trade lines:
1st red line: original SL
1st orange: reduce the SL when trade is at 30%
1st green: 2nd entry (at the same time reduce risk by reducing SL so 2:1 R:R remains)
2nd green: the new TP level.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd #22.png Size: 34 KB
As the lights go by so too do the shadows move
  • #127
  • Sep 29, 2015 12:36pm Sep 29, 2015 12:36pm
Quoting Matts Micro
I am having a problem with my TP's using this system. About once every 5 trades I miss my TP by less than 3 pips and even within micro lots... After 50-80pip moves this can very frustrating. As I mentioned in my journal I have being toying with an idea to counter the near miss. I have being thinking of using a second entry about 30% into the trade. By this time I am normally fairly confident that the BO is true and I often reduce my SL at this point. If I use a second entry and reduce the SL so it still has the 2:1 R:R I will be able to reduce the...
2 things.

Here's a thought, price generally exchanges in ranges. If you do decide to employ a counter near miss entry in the manner you've stated, try targeting around the low (or high) of the range that developed while in your trade. In the example you posted, you would have had anywhere from 2 to 5 chances to hit a new TP with the 2nd trade adjustment.
Also another part to this is that in the same way you up your trade size based on the level of the primary account, you can apply the same principle to individual trades and the trade account. With that you can take profits earlier while still trading within the mm system.

Example:
Attached Image


The picture is quite generous in terms of win ratio but you get the idea.
  • #128
  • Sep 29, 2015 11:01pm Sep 29, 2015 11:01pm
Quoting Good Lookin
{quote} 2 things. Here's a thought, price generally exchanges in ranges. If you do decide to employ a counter near miss entry in the manner you've stated, try targeting around the low (or high) of the range that developed while in your trade. In the example you posted, you would have had anywhere from 2 to 5 chances to hit a new TP with the 2nd trade adjustment. Also another part to this is that in the same way you up your trade size based on the level of the primary account, you can apply the same principle to individual trades and the trade account....
Hey Lookin,
I see what your shooting at but atm my system is fairly stable. I have found in the past that when I make even small changes it can take me months to find the right balance with my entries and exits for it to be consistent again. I find trading forex like balancing on a knifes edge, a slight shove in one direction or another can upset my system completely. It is why I have been so reluctant to put the second trade into "go" mode. Perhaps I should just be cutting my TP's by 3-4 pips for certainty rather second trades but it will damage my results if I do so. It has got to the point now however that something has to be done. 5-6 extra TP's that have missed for either B.E.'s or 50% take, and my results would be amazingly different atm, especially on my live acc. I think I would have at least one more +3 series and potentially 2 (and that is just the logged results, this problem has being going a bit longer).

In the example I posted PA did have a level above my TP that could have been taken advantage of for a TP, however I am trading a BO system and quite often PA doesn't "think" and can potentially be quite volatile after my entry.

I am still in two minds of whether to employ the system or not. It is probably just market conditions that will pass within the next few weeks and not worth the risk of messing with my system. I may try it on the TE account however.
As the lights go by so too do the shadows move
  • #129
  • Sep 30, 2015 2:52am Sep 30, 2015 2:52am
Matt, reducing your TP by 5% is nothing really, especially when you think of the upside! The percentage difference can always be swallowed up by completing the series - you are always going to have 'excess' money in there (as in you do not go up the levels exactly 200-400, 400-800...), In my testing, you usually end up with something like 230 going up that first level.

The idea is to go up the levels, not to get the perfect R:R.

The path of least resistance is the key to this method - what ever gets you your 'double, double, double'. I woudl take that minus 15% percent any day, considering the upside potential is huge!
  • #130
  • Sep 30, 2015 3:59am Sep 30, 2015 3:59am
Again?
2.2 pips
Attached Image


bbl
As the lights go by so too do the shadows move
  • #131
  • Sep 30, 2015 8:20am Sep 30, 2015 8:20am
Quoting rolandW
Matt, reducing your TP by 5% is nothing really, especially when you think of the upside! The percentage difference can always be swallowed up by completing the series - you are always going to have 'excess' money in there (as in you do not go up the levels exactly 200-400, 400-800...), In my testing, you usually end up with something like 230 going up that first level. The idea is to go up the levels, not to get the perfect R:R. The path of least resistance is the key to this method - what ever gets you your 'double, double, double'. I woudl take...
Hey rolandW,
I do agree with you to a certain extent but puling back a TP 5% will damage my results, normally I am pretty close to the 2:1 ratios and don't have much to spare. The main reason for not wanting to do it however is because if I pull the TP back 4-5 pips today and find in a months time that I am still missing my TP's by 4-5 pips do I pull it back again? It's a slippery slope. I will do it if I have to but I will make sure I have lt proof to do so. The market atm could very well be going through a "phase" and in another 2-3 weeks it may correct the range to allow for my TP's. Imo if a trader is always trying to change his system "chasing the market" then he will always be one step behind. If it starts looking like a permanent change in conditions I may at a future date decide to change my system. Until then I will keep complaining to the FF community to get it off my chest
Just my thoughts on it anyway

Cheers,
Matt.
As the lights go by so too do the shadows move
  • #132
  • Sep 30, 2015 8:41am Sep 30, 2015 8:41am
And another one just for good measure

My live AJ trade missed by 2.9 pips
Attached Image
As the lights go by so too do the shadows move
  • #133
  • Sep 30, 2015 8:43am Sep 30, 2015 8:43am
Smaller target and smaller stop ?

moving tp to BE after some pips move in your favor.

Analyze why price moved against you when you was almost at target was it support or resistance or just coinsidence ?


Hope you find a solution to it


Best regards
  • #134
  • Sep 30, 2015 8:51am Sep 30, 2015 8:51am
Quoting jgadefelth
Smaller target and smaller stop ? moving tp to BE after some pips move in your favor. Analyze why price moved against you when you was almost at target was it support or resistance or just coinsidence ? Hope you find a solution to it Best regards

Thanks jgadefelth, these are indeed the questions. I am considering a slightly more aggressive 2:1 R:R (slightly tighter stops/TP's). I think I must be entering at a common Fibonacci level on my BO's and there is perhaps an algo equation at work calculating the entries or some crap... As I have more results I will be able to get a clearer idea of how to counter it.

Cheers,
Matt
As the lights go by so too do the shadows move
  • #135
  • Sep 30, 2015 10:00am Sep 30, 2015 10:00am
Quoting Matts Micro
And another one just for good measure My live AJ trade missed by 2.9 pips {image}

Inserted Video


As the lights go by so too do the shadows move
  • #136
  • Sep 30, 2015 3:19pm Sep 30, 2015 3:19pm
Working on a plan...
Attached Image
As the lights go by so too do the shadows move
  • #137
  • Sep 30, 2015 8:22pm Sep 30, 2015 8:22pm
Got taken from the TE AU trade by 1 pip before lift off

Next trade.
As the lights go by so too do the shadows move
  • #138
  • Oct 4, 2015 8:21pm Oct 4, 2015 8:21pm
Hi I posted the below on ragstoriches today, hope it helps, fairly risky but great for entry and exit. Good luck man.


So my method of trading can help people achieve this goal perhaps starting from a the smallest account size first and working up without risking 50% but instead just building an account fast.

What you will need is two Bollinger's and bottle of whisky.

Set the one Bollinger to 100/2
Set another Bollinger to 100/3

Using the 2 hour and 4 hour look for price to hit the outer Bollinger 100/3 and close back inside inner Bollinger 100/2 heading back toward the mid line.

This is your first entry point.

Below that entry enter orders every 20 pips for a 20 pip take profit no stop loss.

Example

Entry trade 1 @ 1.6000 100 pip tp

Order 1 @ 1.4 20 pip tp
Order 2 @ 1.2 20 pip tp
Order 3 @ 1.0 20 pip tp
Order 4 @ 0.8 20 pip tp

And so on and so on

Obviously this method is not without drawdown hence start with the minimal account size possible for you and close any stragglers when profit target is hit.

Should first trade take of nicely and hits mid line prior to reaching 100 pips close anyway.

Discipline is key close all trades as soon as net equity show 100 pip profit for that trade size
FREEDOM IS SECURITY.
  • #139
  • Oct 4, 2015 8:26pm Oct 4, 2015 8:26pm
One other thing is replace your orders if they are met.
FREEDOM IS SECURITY.
  • #140
  • Oct 5, 2015 3:08am Oct 5, 2015 3:08am
Quoting hippiedog
Hi I posted the below on ragstoriches today, hope it helps, fairly risky but great for entry and exit. Good luck man. So my method of trading can help people achieve this goal perhaps starting from a the smallest account size first and working up without risking 50% but instead just building an account fast. What you will need is two Bollinger's and bottle of whisky. Set the one Bollinger to 100/2 Set another Bollinger to 100/3 Using the 2 hour and 4 hour look for price to hit the outer Bollinger 100/3 and close back inside inner Bollinger 100/2...

Ok so you come into a trend for your entrys the trend have a reverse to get you in some trades when you are in some trades the trend comes back in the opposite direction and make you loose, because you have no stop you lose your account or most of it.

Best regards
0 traders viewing now