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QAM Trading Journal $US1000 to ???

  • #281
  • May 11, 2016 12:16am May 11, 2016 12:16am
Quoting Masterrmind
{quote} Here is a very basic outline of a pending order via Buy Stop which can be applied by clicking on a Buy Stop button on the chart. {image} The idea is to wait until price has generated several Quantum blue boxes and then click on the Buy Stop button and the EA will place several pending orders (Buy Stop in this example) at each previous Q box price level or in basic form simply apply user set number of Buy Stop orders. User input value for number of pending orders set = 3 then EA will apply 3 orders on the chart (defined as user input Buy...
Getting the EA coded so that it places pending orders at previous Quantum boxes might require some coding so i'm not sure if you are up to doing it.

The EA would need to be able to read all the previous levels of the most current Quantum cycle and then only place pending orders in this cycle.

Another option is to simply have the EA place 3 pending orders X_pips away from current price and then click and drag the orders with the mouse to the preferred location (price level).

Masterrmind...........
Master your Mind then Master your Trades
  • #282
  • May 11, 2016 12:27am May 11, 2016 12:27am
Hi Masterrmind,
This is a great idea ... sounds like a reversal strategy ... the next Release will come with this function but for savety reasons with .01 lot only per trade, max trades 10, I might change the EA and accept then BroKer Pepperstone for live testing/trading
Gerhard
  • #283
  • May 11, 2016 12:39am May 11, 2016 12:39am
Quoting togerhard
Hi Masterrmind, This is a great idea ... sounds like a reversal strategy ... the next Release will come with this function but for savety reasons with .01 lot only per trade, max trades 10, I might change the EA and accept then BroKer Pepperstone for live testing/trading Gerhard
Yes basically what it is attempting to do is prolong the entries.

Usually, a trader or EA would open a long entry at a blue Quantum box (opposite for red Q boxes).

However, if price continues down the trades generate DD.

The idea is to reduce the DD effect as much as possible by waiting for price to head back up (in the case of a long cycle of trades)

You might be able to have a look at some of the code in this script for pending orders as the source code is freely available.

Attached Image


The pending orders are listed via a drop down menu.

Attached Image


I do use this script sometimes but the execution needs to be simpler and faster.

I need to be able to click 1 button and maybe click again to confirm entries then the EA places example 3 pending Buy Stops 10 pips apart and 10 pips above current price with a magic number, SL + TP and a delete order timer so that a pending order if not executed within example 4 hours then the pending order is cancelled.

Masterrmind.........
Master your Mind then Master your Trades
  • #284
  • May 11, 2016 1:08am May 11, 2016 1:08am
AJ -cycle

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Gross Profit of US$37.54 taken out of the AJ cycle so far but currently sitting on a US$29.00 floating loss.

Meaning that the cycle could be closed out now for a net gain of US$8.54

Lets see if the market allows an opportunity to collect a little more profit.

ps. as much as I dislike running cycles from one day into the next sometimes there is little choice so you manage the cycle as best as you can!

Masterrmind...........
Master your Mind then Master your Trades
  • #285
  • May 11, 2016 1:51am May 11, 2016 1:51am
Quoting Masterrmind
AJ -cycle {image} Gross Profit of US$37.54 taken out of the AJ cycle so far but currently sitting on a US$29.00 floating loss. Meaning that the cycle could be closed out now for a net gain of US$8.54 Lets see if the market allows an opportunity to collect a little more profit. ps. as much as I dislike running cycles from one day into the next sometimes there is little choice so you manage the cycle as best as you can! Masterrmind...........
AJ - update

Stops tightened to just above midR level.

Price hugging the pivot for some time now so lets see which direction the markets drives price.

ps. I'll be looking at closing out some trades soon since the AJ cycle will produce a net positive gain just trying to squeeze out more profit!

Masterrmind............
Master your Mind then Master your Trades
  • #286
  • May 11, 2016 2:00am May 11, 2016 2:00am
Quoting Masterrmind
{quote} AJ - update Stops tightened to just above midR level. Price hugging the pivot for some time now so lets see which direction the markets drives price. ps. I'll be looking at closing out some trades soon since the AJ cycle will produce a net positive gain just trying to squeeze out more profit! Masterrmind............
AJ cycle - update

Stops tightened up further now and below the DO line!

London Open not far away so any hint that PA is headed up and trades will be closed out.

Bearish intent to the downside is what we want to see......

Masterrmind...........
Master your Mind then Master your Trades
  • #287
  • May 11, 2016 2:11am May 11, 2016 2:11am
Quoting Masterrmind
{quote} AJ cycle - update Stops tightened up further now and below the DO line! London Open not far away so any hint that PA is headed up and trades will be closed out. Bearish intent to the downside is what we want to see...... Masterrmind...........
AJ - update

Attached Image (click to enlarge)
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Stops very tight now just above the pivot.

TPs extended.

The idea now is to let the market take me out if PA drives up above the pivot point.

Note: I closed out 1 short trade perhaps a little too soon.

Masterrmind.......
Master your Mind then Master your Trades
  • #288
  • May 11, 2016 2:21am May 11, 2016 2:21am
Quoting Masterrmind
{quote} AJ - update {image} Stops very tight now just above the pivot. TPs extended. The idea now is to let the market take me out if PA drives up above the pivot point. Note: I closed out 1 short trade perhaps a little too soon. Masterrmind.......
AJ - all trades now closed out.

As the market drove lower I continued to tighten the stops until a retacement to the upside took out the stops.

More commentary will follow a little later today.

Masterrmind..........
Master your Mind then Master your Trades
  • #289
  • May 11, 2016 4:02am May 11, 2016 4:02am
Tuesday and Wednesday Trading

A rough few days in terms of Quantum cycles

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Required plenty of the following:

1. Constant monitoring and managing of trades within the cycle
2. Short term FIFO trades
3. Pending orders
4. Starting with an EA then modifying Quantum value to force TPs then going full manual
5. Adjusting stops and TPs
6. Allowing the cycle of trades to run over night (not favorable) and having to choose SLs + TPs that fitted with chart structure
7. Continually looking for opportunities to open small TP trades to continue adding some buffer profit to the account
8. Following PA after close of ATW session on 2nd day and continually tightening up stops to let the market take out the positions

End result was as follows:

End of ATW session for Tuesday + Wednesday (end of Day #27 and Day #28)

1 short cycle taken on AJ (37 trades) and 1 short cycle on GJ (2 short trades only)

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39 trades

33 winners
6 losses (1 long + 5 short losses on AJ)

2 Daily $gain obtained was US$14.95 > motivated 2 Daily $gain (US$5.69 +US$5.72 = US$11.41)

Net 2 daily% gain was about + 1.29%

ps. Yes looks like a lot of work but its the process that is so important (just think about an account that is 10 to 100 times larger)!

pps. Looking forward to trading tomorrow!

Masterrmind............
Master your Mind then Master your Trades
  • #290
  • May 11, 2016 4:37am May 11, 2016 4:37am
Thank you for showing how you managed the trades.
Without monitoring the trades it would be a loss but you managed to make a profit
I'm curious if i would be able to do the same or just panic
Need to try it on my skin ( as italians say)
  • #291
  • May 11, 2016 4:39am May 11, 2016 4:39am
Nice going MM, slow consistent discipline wins the day
Shuael its all about position sizing... thats what controls emotion breakdown ..
  • #292
  • May 11, 2016 4:46am May 11, 2016 4:46am
Yes you are right, knowing the risk before the trade is essential .
But it may be hard to watch the price go away from you and watching the DD become bigger and bigger.
Practice is important to not panic in this cases and act ( i need to work on this one)
  • #293
  • May 11, 2016 4:49am May 11, 2016 4:49am
just imo ... ITS vital to see where s/r are and understand what you are trading ...... I dont counter trade thats why I dont comment much .. but the discipline side of MM works is top notch ..
  • #294
  • May 11, 2016 6:24am May 11, 2016 6:24am
Thanks guys you are too kind!

There are many important points to be made here but I tell you the most important one is managing the risk on every cycle (or trade) you take.

Once you get the risk sorted out in your head so you know that if your stops get taken out you'll lose $X.XX or X% of your trading account and that such a loss can be recovered then your mind although very active eventually starts to relax so that under pressure you can think clearly, calmly and correctly!

These skills outlined here are NOT just for the QAM Strategy but can be applied to many other trading styles.

I do not only trade QAM Strategy but several other strategies too which are all quite different from one another.

Take it step by step (keep demo trading ... which I personally dislike) and slowly and carefully start building the confidence.

After awhile you'll be a pro at it!

ps. again I'll state that it looks like a lot of work for a few $$$ but the same techniques can be transferred onto any size account.
pps. this is why I try to mention net daily % gain and the maximum floating DD% because these parameters are part of all sized accounts.

Good trading,

Masterrmind...........
Master your Mind then Master your Trades
  • #295
  • May 11, 2016 7:27am May 11, 2016 7:27am
Quoting Masterrmind
Tuesday and Wednesday Trading A rough few days in terms of Quantum cycles {image} Required plenty of the following: 1. Constant monitoring and managing of trades within the cycle 2. Short term FIFO trades 3. Pending orders 4. Starting with an EA then modifying Quantum value to force TPs then going full manual 5. Adjusting stops and TPs 6. Allowing the cycle of trades to run over night (not favorable) and having to choose SLs + TPs that fitted with chart structure 7. Continually looking for opportunities to open small TP trades to continue adding...
Better not forget about the 5 AU shorts in amongst that lot!

Masterrmind...........
Master your Mind then Master your Trades
  • #296
  • May 11, 2016 6:26pm May 11, 2016 6:26pm
Thursday May 12 - Day # 29

Heat Map (myfxbook)
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News
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Daily gain
Attached Image (click to enlarge)
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Motivated daily gain is $5.75

Motivated accumulated daily gain is $155.62

Currently US$2.88 ahead of the motivated accumulated daily gain!

Lets see what the market gives out!

Masterrmind...........
Master your Mind then Master your Trades
  • #297
  • May 11, 2016 8:28pm May 11, 2016 8:28pm
EURGBP [M5; 40 - EA/manual]

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1 cycle

6 trades
6 winners

1st short via manual @ 0.02 lots

Then EA for the rest @ 0.01 lots.

All trades closed out manually just above the DO line.

Masterrmind...........
Master your Mind then Master your Trades
  • #298
  • May 11, 2016 8:45pm May 11, 2016 8:45pm
EG

Attached Image (click to enlarge)
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closed out 2 longs just below midR level

2 trades
2 winners

Masterrmind...........
Master your Mind then Master your Trades
  • #299
  • May 12, 2016 12:04am May 12, 2016 12:04am
Looking for an opportunity to short the AJ pair down for a few pips.

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1. Q box generated (time to wake up)
2. PA across the chart (look for bearish intent to the downside)
3. price currently under Pivot, under DO line and the order flow is still to the downside even though this last leg has been to the top side
4. Is price likely to reverse before it hits the 80.000 psychological level or will it head up higher to test the pivot (80.100)?

Risks:

1. JPY weakness shown in other currencies (USD, GBP, EUR and NZD)
2. mid S just below the DO line
3. watch out for zones where price can reverse direction or bounce.
4. less than an hour to go before the ATW session ends (so time is against us)

Minimum requirement here is at least a close of a bearish candle = be patient.

If price keeps pushing up higher so be it just watch it go up.

So think twice before shorting the AJ pair which I must say is looking very nice from a technical perspective!

Masterrmind...........
Master your Mind then Master your Trades
  • #300
  • May 12, 2016 12:16am May 12, 2016 12:16am
Quoting Masterrmind
Looking for an opportunity to short the AJ pair down for a few pips. {image} 1. Q box generated (time to wake up) 2. PA across the chart (look for bearish intent to the downside) 3. price currently under Pivot, under DO line and the order flow is still to the downside even though this last leg has been to the top side 4. Is price likely to reverse before it hits the 80.000 psychological level or will it head up higher to test the pivot (80.100)? Risks: 1. JPY weakness shown in other currencies (USD, GBP, EUR and NZD) 2. mid S just below the DO line...
AJ

Looks like a possible bearish engulfing candle is about to form but you need to ask yourself is this enough to make an entry.

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However, look at where it is located on the chart with respect to chart structure (above DO line, under pivot and what about other zones)

Sell Stops could certainly be applied but how long do you think it will take under average trading conditions to trigger these orders assuming they are placed at least under the DO line?

Earlier in the ATW session certainly a good idea but this late in the session maybe they will not get triggered and even if they do the trades will most likely face the wrath of the FF Open (could be good or bad for your trades)

As much as I really want some extra profit today I will not risk a bad entry.

Its not worth it!

Masterrmind........... :nerd:
Master your Mind then Master your Trades
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