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QAM Trading Journal $US1000 to ???

  • #581
  • Jun 22, 2016 8:31pm Jun 22, 2016 8:31pm
QAM-1K Live - update

Stops have now been tightened right up on the final 3 long trades in preparation for Brexit!

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Pending Sell Stops (3) have now been deleted as they are no longer required.

Account is net positive again but its been quite a ride indeed.

Starting from next Monday the Quantum cycles will commence.

Other trading strategies will also be applied in combination with Quantum cycles.

Trades in a currently running Quantum cycle are likely to be far fewer with a limit to be applied.

Further details will be posted here over the next few days.

ps. a suitable account still has not been sourced so the current account will continue until further notice.
pps. it is possible to trade on a different platform applying the desired 0.001 lots per 1000 balance but this would require coding another Expert Advisor in a different language (Python, Matlab etc) which is not really the preferred way to go at this stage meaning that MT4 will continue at this stage.
ppps. If any trader/coder knows how I can trade 0.001 lots on a $US1000 account in MT4 please make a comment here that I can then follow up.

Masterrmind............
Master your Mind then Master your Trades
  • #582
  • Jun 22, 2016 10:22pm Jun 22, 2016 10:22pm
Quoting Masterrmind
If any trader/coder knows how I can trade 0.001 lots on a $US1000 account in MT4 please make a comment here that I can then follow up. Masterrmind............
hello,

not possible due to broker limitations,
however you can open a cent account and continue from there.

so;
$1000 = $cent 100,000

so in order to open 0.001 lot (*normal lot);
you have to open 0.1 lot (*cent lot) in cent account...

hope it is clear enough.

(very reliable brokers do offer cent account, pepperstone does not)
  • #583
  • Jun 22, 2016 11:04pm Jun 22, 2016 11:04pm
Quoting openyoureyes
{quote} hello, not possible due to broker limitations, however you can open a cent account and continue from there. so; $1000 = $cent 100,000 so in order to open 0.001 lot (*normal lot); you have to open 0.1 lot (*cent lot) in cent account... hope it is clear enough. (very reliable brokers do offer cent account, pepperstone does not)
Appreciate your comments.

Pepperstone surely does not otherwise I would be using them for sure!

It appears a cent account is an option and I have been actively searching for a suitable broker.

The issue with many cent accounts is the following:

1. typically only allow a very small upper limit on the account balance (I prefer or need 5K to 10K but will consider 3K then the broker can change the account to standard 0.01 lot volume) ...

2. the spread is typically much higher than a standard account and I trade in the Asian session which implies thinner liquidity than other session times and generally higher spreads .... the cent account makes this gap widen. However, I can probably work my way around this issue by trading medium to higher volatility pairs in the Asian session instead of turtle pairs (EChf + EG and EU etc)

3. regulation appears to be quite variable or non-existent on cent brokers however in all fairness I do need to research this issue further (and I will)

4. although the 1K account is quite small its still important to have a broker reputable enough to rely on withdrawals at much much higher balances whether my 1K wonder account makes the big numbers or not is irrelevant at this stage since my aim is to keep the money in the account without making any withdrawals for perhaps 3-5 years (hopefully not that long but this is a reasonable window)
Also needs to be high leverage but will consider anything from about 100-200:1 but prefer 500 and higher due to the strategy make-up.


If I can source a suitable cent account broker then I'll change accounts and continue this QAM journey so please make timely suggestions.

Please offer any suitable cent account broker suggestions here and I will follow up on them asap.

If anyone has used cent accounts and would like to make a suggestion (unbiased) please post or if its a little sensitive in nature you are welcome to PM me.

Masterrmind............
Master your Mind then Master your Trades
  • #584
  • Jun 22, 2016 11:27pm Jun 22, 2016 11:27pm
Quoting Masterrmind
{quote} Appreciate your comments. Pepperstone surely does not otherwise I would be using them for sure! It appears a cent account is an option and I have been actively searching for a suitable broker. The issue with many cent accounts is the following: 1. typically only allow a very small upper limit on the account balance (I prefer or need 5K to 10K but will consider 3K then the broker can change the account to standard 0.01 lot volume) ... 2. the spread is typically much higher than a standard account and I trade in the Asian session which implies...
If a Cent Account broker can be found then I will start this new account from July 1, 2016 which is the last trading day of next week not this week!

Feel free to make suggestions it would be appreciated.

Masterrmind............
Master your Mind then Master your Trades
  • #585
  • Jun 22, 2016 11:50pm Jun 22, 2016 11:50pm
QAM-1K Live - update

Aggressively tightened up the stops allowing the market to take out all but 1 stop (manually closed out).

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No currently running trades.

ps. not really an ideal end result after so many days however, the initial balance is intact and the account does show a small gain!

pps. no further trades are likely to be made on this account for the rest of this week (possibly for the following week as well)

ppps. if a suitable cent account can be found then this current account will most likely be transferred over and the QAM strategy continued in the Cent Account from about July 1, 2016.

Masterrmind..........
Master your Mind then Master your Trades
  • #586
  • Jun 23, 2016 12:14am Jun 23, 2016 12:14am
Poll Results up to this date are as follows:

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ps. at this stage I'm not too sure what will happen to the polling if the account gets transferred to a cent account.

pps. technically the account would retire (change account numbers and be transferred into a different type of trading account) in profit with a net positive gain but would not at this stage have made or bettered 10K and certainly not blown up.

ppps. if no commentary is received in this regard over the next few days then I may consider either continuing the current Poll making sure to name the updated trading account as QAM-1K live and transferring the exact same amount in $US1026.36 (TE + myfxbook + fundseeder) or simply commence a new Poll for the new account.

Comments are welcome after which I'll make a final decision.

Masterrmind...........
Master your Mind then Master your Trades
  • #587
  • Jun 23, 2016 1:32am Jun 23, 2016 1:32am
Quoting Masterrmind
QAM-1K Live - update Aggressively tightened up the stops allowing the market to take out all but 1 stop (manually closed out). {image} No currently running trades. ps. not really an ideal end result after so many days however, the initial balance is intact and the account does show a small gain! pps. no further trades are likely to be made on this account for the rest of this week (possibly for the following week as well) ppps. if a suitable cent account can be found then this current account will most likely be transferred over and the QAM strategy...
AJ - commentary

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Perhaps a good idea to close out trades as I did prior to Frankfurt Open!

Masterrmind...........
Master your Mind then Master your Trades
  • #588
  • Jun 23, 2016 5:15am Jun 23, 2016 5:15am
Quoting Masterrmind
{quote} AJ - commentary {image} Perhaps a good idea to close out trades as I did prior to Frankfurt Open! Masterrmind...........
Or was it?

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ps. many times its all about weighing up the risk and then making a decision .... would the roller coaster ride have been worth the risk?

Masterrmind............
Master your Mind then Master your Trades
  • #589
  • Jun 23, 2016 9:55pm Jun 23, 2016 9:55pm
Quoting Masterrmind
{quote} Or was it? {image} ps. many times its all about weighing up the risk and then making a decision .... would the roller coaster ride have been worth the risk? Masterrmind............
Nope!

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Very pleased to be out of this swinging mayhem!

Masterrmind............
Master your Mind then Master your Trades
  • #590
  • Jun 24, 2016 6:40am Jun 24, 2016 6:40am
Quoting Masterrmind
QAM-1K Live - update Aggressively tightened up the stops allowing the market to take out all but 1 stop (manually closed out). {image} No currently running trades. ps. not really an ideal end result after so many days however, the initial balance is intact and the account does show a small gain! pps. no further trades are likely to be made on this account for the rest of this week (possibly for the following week as well) ppps. if a suitable cent account can be found then this current account will most likely be transferred over and the QAM strategy...
QAM- 1K live trading account - update

It was decided that a Cent Trading Account might prove to be more appropriate in terms of lot size to account balance ratio.

Therefore most of the funds have now been withdrawn from the account effective today.

The new Cent Account will be sourced over the following week in preparation for a July 1 commencement.

An identical balance of US$1026.36 will be applied to the new Cent Account.

ps. Time will tell how effective this change from one account type to the other turns out to be!

pps. The actual Cent account is yet to be determined so any suggestions are welcome.

Masterrmind...........
Master your Mind then Master your Trades
  • #591
  • Jun 24, 2016 7:13am Jun 24, 2016 7:13am
Quoting Masterrmind
{quote} QAM- 1K live trading account - update It was decided that a Cent Trading Account might prove to be more appropriate in terms of lot size to account balance ratio. Therefore most of the funds have now been withdrawn from the account effective today. The new Cent Account will be sourced over the following week in preparation for a July 1 commencement. An identical balance of US$1026.36 will be applied to the new Cent Account. ps. Time will tell how effective this change from one account type to the other turns out to be! pps. The actual Cent...
I think it's definitely a good chose for the reason explained in this thread.
The difficult part is to find a good broker to put money in, unfortunately i'm not a broker expert and i can't suggest you any.
Maybe some brokers with different platforms from mt4 give you the opportunity to trade with lower size.

P.s i wanted to watch the Market during Brexit, but fell asleep It was a big surprise for everyone , the status quo isn't forever
  • #592
  • Jun 24, 2016 8:34am Jun 24, 2016 8:34am
Quoting Shuael
{quote} I think it's definitely a good chose for the reason explained in this thread. The difficult part is to find a good broker to put money in, unfortunately i'm not a broker expert and i can't suggest you any. Maybe some brokers with different platforms from mt4 give you the opportunity to trade with lower size. P.s i wanted to watch the Market during Brexit, but fell asleep It was a big surprise for everyone , the status quo isn't forever
Yes I tuned into all the live news commentary and watched the charts go UP and then go down.

No trading of any positions when market conditions are this volatile.

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Cent Brokers List (incomplete but working on it)

FXTM ........................................................... http://www.forextime.com/forex-tradi...forex-accounts
RoboForex (Fix Cent or Pro Cent) ............. http://www.roboforex.com/operations/cent-account/
LiteForex .................................................... http://www.liteforex.com/trading/account-types/lite/
FBS ............................................................. https://fbs.com/trading/cent
FXOpen ...................................................... https://www.fxopen.com/en/trading-accounts/micro/
IFC markets .............................................. http://www.ifcmarkets.com/en/accounts

Will add to the list as others turn up but most likely a choice can be made from this list.

Masterrmind.............
Master your Mind then Master your Trades
  • #593
  • Jun 26, 2016 5:45am Jun 26, 2016 5:45am
The Demo Cent Account

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The balance shows 100 000 USC which ofcourse is simply the same as US$1000.

Lets keep an eye on the spreads this coming week because this could easily make turtle pairs untradeable and even the medium to volatile pairs very interesting to trade.

The idea behind the Demo Cent account is to get a few cycles completed just to test the waters so to speak.

Including getting used to the different values of lots being traded since now they are cent lots effectively 100 times less than standard lots.

1.0 cent lots = 0.01 standard lots
0.1 cent lots = 0.001 standard lots

Note: By Friday the new live Cent account should be up and ready for action!

Masterrmind............
Master your Mind then Master your Trades
  • #594
  • Jun 27, 2016 6:13am Jun 27, 2016 6:13am
Nice easy trading day.

Took cycles on AU, EU and UJ.

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ps. further details in my other thread (Q A M Trading Strategy).

Masterrmind...........
Master your Mind then Master your Trades
  • #595
  • Jul 4, 2016 10:35am Jul 4, 2016 10:35am
Quoting openyoureyes
{quote} hello, not possible due to broker limitations, however you can open a cent account and continue from there. so; $1000 = $cent 100,000 so in order to open 0.001 lot (*normal lot); you have to open 0.1 lot (*cent lot) in cent account... hope it is clear enough. (very reliable brokers do offer cent account, pepperstone does not)
Hi Masterrmind,with an XMmicro account you can still trade 0.01 lots (10Euro), RoboForex Cent changed the size to 0.10 (100Euro) lot some months ago. the only Point is that with an Expert or Sript you Need to add Micro to the pair. The difference is that there is no Change to Cents (as 1000euro is 1000 and not 100000)393045822016.07.04 18:28:38buy0.01eurusdmicro1.114500.000000.000002016.07.04 18:33:111.114470.000.000.000.00
  • #596
  • Jul 4, 2016 6:54pm Jul 4, 2016 6:54pm
Quoting togerhard
{quote} Hi Masterrmind,with an XMmicro account you can still trade 0.01 lots (10Euro), RoboForex Cent changed the size to 0.10 (100Euro) lot some months ago. the only Point is that with an Expert or Sript you Need to add Micro to the pair. The difference is that there is no Change to Cents (as 1000euro is 1000 and not 100000)39304582 2016.07.04 18:28:38 buy 0.01 eurusdmicro 1.11450 0.00000 0.00000 2016.07.04 18:33:11 1.11447 0.00 0.00 0.00 0.00
Yes its just based on units of currency whether its US$100 000 or USC100 000 on MT4 they set 0.01 lots as a minimum but the EA trades it no problem.

Some brokers might require the "micro" part added to the symbol name thats true.

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

With FXTM I do not think any modification to symbol name is required.

The FXTM Cent demo account using the EA trades normally and does not need any modifications at all.

I think that a live Cent account with FXTM will be fine.

So on FXTM I can trade 0.01 cent lots which equals 0.0001 standard lots.

Most of the trades on the demo account still running are 0.1 cent lots which are about 1 US cent per pip in value.
So if I traded 0.01 cent lots thats about 1/10 of a cent.

Trading 0.01 cent lots is like trading 0.01 standard lots per US$1 000 000 (a huge ratio)!

The broker has simply expanded the deposit 100 times but still allows the 0.01 lot sizes and this gives a very high ratio between account balance and lot sizing which I think is far better for the QAM Method.

Only time will tell I guess.

The live cent account will hopefully be up and running very soon.

Thank you for you input it is always appreciated.

Masterrmind............
Master your Mind then Master your Trades
  • #597
  • Jul 5, 2016 2:18am Jul 5, 2016 2:18am
​Hi Masterrmind,

I forgot to add, usual the Mirco or Cent Accounts do have Limits in the amount of orders (I guess RoboForex and XM, 200 open Orders (running, stop, limit) ,as with Robo you get an error in the ExpertAdvisor or Script and XM accepts but you get some mail discussion later on with them), RoboForexECN has no Limits as I know, ICM, I dont know.

The Point is, if you trade more than one Cross and place stop/Limits for some reasons, you can reach very quick the 200 Limit. I know, 200 sounds big but sometimes you might reach that Limit very quick.

For me it means that an ExpertAdvisor or Script should generate the Limit/Stop Orders contemporary inside the EA but in an hot market (Draghi, Yellen days) the program might be too slow compare that there are already Limit/Stops in the market.
I also try Fix Cent with an fix spread but the spread.

The other side of the Coin, with an bigger spread, Limit/Stops might be triggered at a Pricing you do not like or expect. Friday late NY session, with some crosses, the spread runs to 100 and more compare to usual 0.6 or 10 or 30 with some ECNBrokers and if your Limit/stops are tight ... you have suddenly plenty of open orders.
Just with Yellen and Draghis, the spread usual increase and that you can manage only inside an Expert (do not open if spread increased about a level xyz ... you see, that Point has a lot of facets to think about or better stop trading on that days.

some other Point, In case you have an lotsize calculation in an EA or Script ... with Robo you can have an order with 0.123456 lotsize and Robo cut it to 0.12 but XM will generate an trading error, too ( I had a mail discussion with XM about that Point some years ago), that are the small things that do confuses and consumes days/weeks to find out or think about the right strategy.

For that reason, I changed my thinking and calculation in the EA as ECNstandard (1 lot = 100,000, 0.10=10,000, 0.01= 1,000, Micro,Cent 1 lot = 1,000, 0.10=100, 0.01=10 as more than 100,000 Equi, I assume Cent or Micro in an ExpertAdvisor)
  • #598
  • Jul 5, 2016 3:57am Jul 5, 2016 3:57am
Quoting togerhard
​Hi Masterrmind, I forgot to add, usual the Mirco or Cent Accounts do have Limits in the amount of orders (I guess RoboForex and XM, 200 open Orders (running, stop, limit) ,as with Robo you get an error in the ExpertAdvisor or Script and XM accepts but you get some mail discussion later on with them), RoboForexECN has no Limits as I know, ICM, I dont know. The Point is, if you trade more than one Cross and place stop/Limits for some reasons, you can reach very quick the 200 Limit. I know, 200 sounds big but sometimes you might reach that Limit...
Yes there is a limit to maximum orders in the market at the same time on FXTM which is set at 300 for the Real Cent Account.

The demo cent account currently has 126 trades open with 33 pending orders and this is probably far more trades than I would even have open on a live account (although you never know).

Seriously I doubt having anywhere near the 300 threshold so I do not see this as a limiting restriction at the moment.

The spread can be an issue on smaller range pairs for sure and so I have to think about which pairs I would trade.

If the EU pair moves enough then its fine usually even with fixed spread since the spread on this pair is usually the better of the bunch.

However, due to the fact that I need (or would like to see) hundreds if not thousands of pips generated I will have to consider some of the volatile pairs even if this might mean adding in say the EN, GN and GCad pairs to the mix.

The ranges that these pairs provide far outweighs the spread but you still need to see them move in the Asian session as it will always be my intention to close out profitable trades near FF Open.

The huge widening of spreads certainly needs to be carefully monitored especially if 100 pip spreads are being produced.

If I see a spread like 100 pips that may give me reason to terminate the account (on the spot) or at least NOT trade those pairs across trading times that give out such unworkable spreads.

As you mention yes the Expert would need to have parameter settings that fail to send an order if spread on ABC/XYZ is >= user input spread etc.

From trading the demo cent account I've noticed that my stops will typically be greater than 100 - 200 pips but this may need to be refined later given a certain pair.

Trading 0.1 cent lots and hitting a 100 pip SL is about US$1 (100 cents) depending on the pair so certainly not a major concern.
However, if 200 trades hit SL then it's a major concern!

Regarding the Lot size calculations the Expert Advisor will have no issue generating any size position however, broker specified rounding of the order or producing an error message in the Mt4 log files will certainly occur.

Its good that you are very aware of this issue because rounding can impact a trading strategy in a very negative way especially when values get rounded up to the closest 2 decimal places on a very small account. It could fry the small account in quick time.

It's not really an issue for a much larger account but here we have stepped into the realm of Cent accounts and I must say that I have limited experience in dealing with these small accounts ..... I've always used standard trading accounts and ECN etc.

Great input and thanks for the continued EA development effort.

In the meantime I'll keep using QLT v1.6.1 but once you have your EA ready I'll be keen to test it out.

Masterrmind............
Master your Mind then Master your Trades
  • #599
  • Jul 5, 2016 5:10am Jul 5, 2016 5:10am
Quoting togerhard
​Hi Masterrmind, I forgot to add, usual the Mirco or Cent Accounts do have Limits in the amount of orders (I guess RoboForex and XM, 200 open Orders (running, stop, limit) ,as with Robo you get an error in the ExpertAdvisor or Script and XM accepts but you get some mail discussion later on with them), RoboForexECN has no Limits as I know, ICM, I dont know. The Point is, if you trade more than one Cross and place stop/Limits for some reasons, you can reach very quick the 200 Limit. I know, 200 sounds big but sometimes you might reach that Limit...
The following screenshot comes from FXTM website:
Attached Image

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 51 KB

Masterrmind..............
Master your Mind then Master your Trades
  • #600
  • Jul 8, 2016 5:49am Jul 8, 2016 5:49am
New live Cent Account is coming hopefully early next week ..........

A TE and a myfxbook link will be provided (or attached) once the account is finally active .......

ps. I could say plenty here about the account process but I'll hold my tongue for the time being .... never had so many dramas .....
pps. Do not be surprised to see a different broker being used ..... its certainly possible at this stage .....

Masterrmind............
Master your Mind then Master your Trades
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