Rags to Riches in 10 or 20 Trades - Simplicity at its finest | Page 94 | Forex Factory

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Rags to Riches in 10 or 20 Trades - Simplicity at its finest

  • #1,861
  • Oct 7, 2015 5:58am Oct 7, 2015 5:58am
EUR/AUD 2H setting up as well 2H.
FREEDOM IS SECURITY.
  • #1,862
  • Oct 7, 2015 6:01am Oct 7, 2015 6:01am
You can get Bollinger band alerts here https://timetotrade.eu/
FREEDOM IS SECURITY.
  • #1,863
  • Oct 7, 2015 8:32am Oct 7, 2015 8:32am
More info here if you want http://www.forexfactory.com/showthre...18#post8528718
FREEDOM IS SECURITY.
  • #1,864
  • Oct 7, 2015 9:37am Oct 7, 2015 9:37am
Quoting hippiedog
{image}
aha so i need to have million dollars on account ?
  • #1,865
  • Oct 7, 2015 2:46pm Oct 7, 2015 2:46pm
Here is an EA that I have developed to show the power of this type of money management.
Attached Image (click to enlarge)
Click to Enlarge Name: MathTrader7_Rags2RichesEA_Result.png Size: 96 KB
Trading is the hardest way to make easy money...
  • #1,866
  • Oct 7, 2015 10:50pm Oct 7, 2015 10:50pm
Quoting MathTrader7
Here is an EA that I have developed to show the power of this type of money management. {image}
Hi!Sorry for my ignorance,but which type of MM you are talking?What was strategy for achieving such results?SP
  • #1,867
  • Edited 2:35am Oct 8, 2015 1:20am | Edited 2:35am
Quoting SuperPip
{quote} Hi!Sorry for my ignorance,but which type of MM you are talking?What was strategy for achieving such results?SP
Please read Post 1 for MM.
For the strategy, I intentionally chose a very simple strategy (without any edge):
1. The EA, depending on the user specified trade direction (BUY or SELL) in the EA settings, opens a position at the beginning of each daily candle with a fixed stop loss (e.g., 50 pips) and a take profit as double size as the stop loss.
2. The EA waits until the position is closed. Depending on profit/loss outcome, the EA executes the next trade based on the risk policy described in Post 1.
Trading is the hardest way to make easy money...
  • #1,868
  • Oct 8, 2015 2:08am Oct 8, 2015 2:08am
Quoting MathTrader7
{quote} Please read Post 1 for MM. For the strategy, I intentionally chose a very simple strategy: 1. The EA, depending on the user specified trade direction (BUY or SELL) in the EA settings, opens a position at the beginning of each daily candle with a fixed stop loss (e.g., 50 pips) and a take profit as double size as stop loss. 2. The EA waits until the position is closed. Depending on profit/loss outcome, the EA executes the next trade based on the risk policy described in Post...
Can you make some screen how to trade that ?
  • #1,869
  • Oct 8, 2015 2:37am Oct 8, 2015 2:37am
Quoting Mariodrugs
{quote} Can you make some screen how to trade that ?
The strategy is so simple that I don't even know how to make a screenshot for it!
Trading is the hardest way to make easy money...
  • #1,870
  • Oct 8, 2015 2:43am Oct 8, 2015 2:43am
Quoting MathTrader7
Here is an EA that I have developed to show the power of this type of money management. {image}
Hi MathTrader

Have you shared this EA somewhere here at FF or do you prefer to not share it.

Either way nice backtest report

All the best

Rooi
We miss 100% of the shots we don't take
  • #1,871
  • Oct 8, 2015 3:32am Oct 8, 2015 3:32am
Quoting MathTrader7
Here is an EA that I have developed to show the power of this type of money management. {image}
Hello, MathTrader!

Interesting results. But, it seems that the algorithm is a bit different from the first post's MM strategy.
It's obvious that the EA doesn't risk 50% of the account size on each trade. So how much % of the deposit does it risk per trade?
Also, does it set a breakeven at some point?

Will be thankful if you find the time to tell a bit more details.

Thank you,

best regards,
Artem
Let's go with the flow
  • #1,872
  • Oct 8, 2015 3:33am Oct 8, 2015 3:33am
So when daily candle opens, which way i have to go? Buy/sell ? which way +100 pips and 50 sl ?
How to recognize if i should sell this daily candle or buy..?
  • #1,873
  • Oct 8, 2015 3:59am Oct 8, 2015 3:59am
Quoting artem_t
{quote} Hello, MathTrader! Interesting results. But, it seems that the algorithm is a bit different from the first post's MM strategy. It's obvious that the EA doesn't risk 50% of the account size on each trade. So how much % of the deposit does it risk per trade? Also, does it set a breakeven at some point? Will be thankful if you find the time to tell a bit more details. Thank you, best regards, Artem
Hello,
The only difference between MM in my EA and what one can see in Post 1 is that in my EA after reaching a user specified number of wins, the EA will be reset to risk the initial capital (e.g., 50 USD). And there is no breakeven functionality. Please note that if we win a position with the initial risk (and in general with this MM), we will earn twice what we had invested. So, in a trail of loss-loss-win, the net profit is breakeven.
Trading is the hardest way to make easy money...
  • #1,874
  • Oct 8, 2015 4:04am Oct 8, 2015 4:04am
Quoting Mariodrugs
So when daily candle opens, which way i have to go? Buy/sell ? which way +100 pips and 50 sl ? How to recognize if i should sell this daily candle or buy..?
Please note that this is an edge-less trading strategy! For example, at the beginning of every daily candle, you open a SELL position. Depending on the outcome of your position (profit/loss) you open the next trade with MM described in Post 1.
Trading is the hardest way to make easy money...
  • #1,875
  • Oct 8, 2015 4:09am Oct 8, 2015 4:09am
Quoting Rooi
{quote} Hi MathTrader Have you shared this EA somewhere here at FF or do you prefer to not share it. Either way nice backtest report All the best Rooi
Hi Rooi,
I haven't shared this EA anywhere. I have implemented it to easily back test the idea of this thread.
I may go live trading with this EA on a Cent account.

Best,
Math
Trading is the hardest way to make easy money...
  • #1,876
  • Oct 12, 2015 6:39pm Oct 12, 2015 6:39pm
I opened an account with 200$ in it 1:500 leverage, 200/25=8 attempts to reach the 50k mark, I made the explorer completely transparent. Lets see where this gets me.
  • #1,877
  • Edited 2:20am Oct 13, 2015 2:09am | Edited 2:20am
Had to close the trade out because I did my lot calculation wrong, it worked out for the the best but I am re opening the trade with proper lot size, I'm not used to mt4.
  • #1,878
  • Oct 13, 2015 1:38pm Oct 13, 2015 1:38pm
So suppose for now: everyday i open at the beginning candle daily, BUY position and set 100 tp / 50 sl pips, and thats all?
  • #1,879
  • Oct 13, 2015 2:02pm Oct 13, 2015 2:02pm
Quoting Mariodrugs
So suppose for now: everyday i open at the beginning candle daily, BUY position and set 100 tp / 50 sl pips, and thats all?
Please note that just opening a position in one direction everyday is an edge-less trading. You can open a position based on some technical/fundamental analysis, which would be a better approach.
Trading is the hardest way to make easy money...
  • #1,880
  • Oct 14, 2015 12:24am Oct 14, 2015 12:24am
Quoting MathTrader7
{quote} Please note that just opening a position in one direction everyday is an edge-less trading. You can open a position based on some technical/fundamental analysis, which would be a better approach.
Yet, this edge-less trading strategy gave you the performance of the above report?
Thats impressive.
I do have another question though, you seemed to have quite a dry spell from trade 49 to 301, however if all those trades were "lost" and according to the rules in post #1, each loss means -50% in equity, then the graph should look different and you shouldn't survive trade 49 - 301 anyways.
What am I missing here?
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