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QAM Trading Journal $US1000 to ???

  • #601
  • Jul 11, 2016 7:21pm Jul 11, 2016 7:21pm
NEW FX TM CENT ACCOUNT SETUP AND READY TO TRADE

Exact funds value transferred from QAM-1K live trading account in the amount of US$1026.36

Original QAM-1K Live account:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 52 KB


Note that some funds have been left in the original QAM trading account to keep it active as it may be re-visited subject to the growth of this current FX TM Cent account.

New (transferred) Cent account therefore shows 102 636 USC

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 53 KB


Cycles will be entered shortly with some commentary to follow.

The main idea is to have the EA perform the bulk of the tasks and the trader to monitor and manage as necessary.

Lets see how far we can take this account.

Enjoy the ride!

Masterrmind............
Master your Mind then Master your Trades
  • #602
  • Jul 11, 2016 8:31pm Jul 11, 2016 8:31pm
The link for myfxbook for the QAM-1K (CENT) live account is as follows:

https://www.myfxbook.com/members/MAS...t-live/1703976

Masterrmind............
Master your Mind then Master your Trades
  • #603
  • Jul 11, 2016 8:36pm Jul 11, 2016 8:36pm
QAM-1K (CENT) live

Tuesday cycles are as follows:

AUDJPY (spread is 3.9 pips) + EURAUD (spread is 7.3 pips ...ouch!!!)

ps. as noted much earlier the live spreads on a cent account could be cause for concern so they will need to be carefully monitored.

Masterrmind...........
Master your Mind then Master your Trades
  • #604
  • Jul 11, 2016 8:52pm Jul 11, 2016 8:52pm
Looks like spread consideration will be a big factor in terms of pairs to be traded.

AUDJPY [M5; 40 - MN 201]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 62 KB


EURAUD [M5; 40 - MN 205]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 55 KB


ps. EURAUD pair may not be traded very often if the spread (7.3 currently) stays this high .... almost unworkable depending on overall ranges of course!

pps. the main pairs such as AU, EG, EChf, EU, GU and UJ tend to have spreads between 1.5 and 3 and this is workable.

Masterrmind...........
Master your Mind then Master your Trades
  • #605
  • Jul 11, 2016 9:09pm Jul 11, 2016 9:09pm
The higher spread suggests the following considerations:

1. Don't trade that pair.

2. If traded be careful that you monitor Q cycle closure levels meaning that if you wish to force a positive cycle then be sure to set TPs at a minimum of 1st entry price +/- spread as the case may be.

For example,

On a long cycle you would want to make sure TP is set at least spread + highest trade entry price.

On a short cycle make similar considerations to force a positive cycle.

Otherwise, some of the earlier entries may close out negative (sometimes this is necessary though depending on PA expectations).

3. Take cycles on pairs that have workable spreads.

Masterrmind..............
Master your Mind then Master your Trades
  • #606
  • Jul 11, 2016 9:19pm Jul 11, 2016 9:19pm
Stops and TPs

Stops are set in the Expert Advisor currently at 200 pips per trade.

TPs are set in the Expert Advisor currently at 100 pips per trade.

The Expert will typically close out trades at opposite Q values.

However, if the EA is pulled from the charts and a manual approach is taken then SLs and TPs can be moved to more chart structurally sound locations based on trader expectations and pivot points and other key levels.

On this Cent account although the overall balance is still >1K a hit on a 200 pip SL equates to about a US$2 loss per trade.

Since the ratio between account balance and lot size is large it means that a wider initial stop can be applied to a given cycle to allow the cycle plenty of space on the chart to unfold.

The trader always needs to monitor the cycles however, and make any adjustments as required to protect and preserve the account.

I tend to find this huge ratio rather more relaxing than when trading the original QAM- 1K live account.

Masterrmind............
Master your Mind then Master your Trades
  • #607
  • Jul 12, 2016 12:01am Jul 12, 2016 12:01am
Quoting Masterrmind
Looks like spread consideration will be a big factor in terms of pairs to be traded. AUDJPY [M5; 40 - MN 201] {image} EURAUD [M5; 40 - MN 205] {image} ps. EURAUD pair may not be traded very often if the spread (7.3 currently) stays this high .... almost unworkable depending on overall ranges of course! pps. the main pairs such as AU, EG, EChf, EU, GU and UJ tend to have spreads between 1.5 and 3 and this is workable. Masterrmind...........
Both AU + EA cycles altered to a Q exit value of 100 (to force a positive cycle)

Current floating DD is about 0.29%.

Masterrmind............
Master your Mind then Master your Trades
  • #608
  • Jul 12, 2016 1:53am Jul 12, 2016 1:53am
Progressive lot sizes may also be considered in the cycles of trades!

Due to the high ratio of account balance to lot size that this account enjoys it might be feasible to start applying this sooner rather than later.

As time goes on I plan to simplify the strategy for this particular account so that it is more likely to be repeatable in the future.

A good reason for applying increased lot progression is so that most of the cycle will end as net positive (with some likely losses) on a smaller pullback in price.

Imagine trading the following (taken from Quantum London Trading thread by mer):

[lot sizes are modified to keep in line with a Cent account]

Trades 01-12 = 0.10 Lots
Trades 13-21 = 0.20 Lots
Trades 22-29 = 0.50 Lots
Trades 30-36 = 1.30 Lots
Trades 37-39 = 3.40 Lots
Trade 40 = 8.90 Lots

If you take the EA v1.6.1 or some of the other similar EA's you'll soon discover the power that such lot progression provides.

Of course its a double edged sword meaning if price keeps going and going against you then the DD can blow out.

I am not suggesting that the above lot sequence be applied to this account since I will apply a far less aggressive approach initially.

I will present the progressive lot sequence some time in the near future when the time is right!

Note that the above lot sequence was typically applied on GBPUSD [M1; 325 - 325] from 1 hour prior to FF Open and stop after 1 cycle only.

Since I trade M1 and M5 TFs usually starting in the Asian session then it makes sense to adopt a progressive lot sequence that perhaps 'better' matches this trading session and also the TFs.

ps. more to come on this later so stay tuned.

Masterrmind...........
Master your Mind then Master your Trades
  • #609
  • Jul 12, 2016 4:01am Jul 12, 2016 4:01am
Quoting Masterrmind
Progressive lot sizes may also be considered in the cycles of trades! Due to the high ratio of account balance to lot size that this account enjoys it might be feasible to start applying this sooner rather than later. As time goes on I plan to simplify the strategy for this particular account so that it is more likely to be repeatable in the future. A good reason for applying increased lot progression is so that most of the cycle will end as net positive (with some likely losses) on a smaller pullback in price. Imagine trading the following (taken...

Hi Mastermind,


You have been doing great work with Quantum. I have a suggestion though.


Would you consider incorporating currency strength extremes to gauge when to start taking trades? For example;


- Say on a currency strength scale 1-10 and trading EurUsd. When Eur >8.5 and Usd <1 or EUR<1 and USD>8.5
- Start using Quantum (you may decide the depth value using ATR%) on M15 to take trades at this point
- Take trades with a grid size of at least 10pips
- Apply a reasonable stop loss based on ADR%


This is based on the assumption that;
- This may likely help reduce DD and increase probability of success since trade is starting when the currency has already reached extreme values and is most likely at the point of reversing in the quantum trade direction


What do you think?
  • #610
  • Jul 12, 2016 4:53am Jul 12, 2016 4:53am
Quoting bishopdotun
{quote} Hi Mastermind, You have been doing great work with Quantum. I have a suggestion though. Would you consider incorporating currency strength extremes to gauge when to start taking trades? For example; - Say on a currency strength scale 1-10 and trading EurUsd. When Eur >8.5 and Usd <1 or EUR<1 and USD>8.5 - Start using Quantum (you may decide the depth value using ATR%) on M15 to take trades at this point - Take trades with a grid size of at least 10pips - Apply a reasonable stop loss based on ADR% This is based on the assumption that; - This...
Thank you for your comments bishopdotun.

There are an infinite number of ways to trade the Quantum and several attempts were tried in the Quantum London Trading thread to which I'm sure you are well aware.

Many ideas were based on extremes (or so called extremes) looking at likely reversals at O/B and O/S levels on Stochastics and MACDs.
Epic fails in my view since price can remain in O/B and O/S zones far longer than a trader can remain solvent!

Now with that out of the way it is refreshing to hear your input since it deals with ATR and ADR% which are better gauges.

What I am concerned about though is your method of determining currency strength.

This is a highly discretionary field of analysis.

I would be very interested to hear your approach in more detail and I have no issue with you sharing your ideas here in this thread.

Afterall if there is a gem hidden in amongst your ideas that benefit the smaller account then everyone interested can benefit.

Could you outline how you propose to determine the strength of a currency remembering that cycles of trades can run anywhere from maybe an hour to several hours.

Post an annotated chart if you wish to help explain your ideas.

Masterrmind...........
Master your Mind then Master your Trades
  • #611
  • Jul 12, 2016 7:41pm Jul 12, 2016 7:41pm
2 cycles still running (manual mode now)

AUDJPY [M5; 40/150/manual]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 76 KB


EURAUD [M5; 40/150/manual]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 73 KB


2 rather large cycles in progress with NO Expert applied at this time since a manual approach will be applied for the time being.

The idea now is to continue monitoring the floating DD (currently about 4%) and allow the cycles time to unfold.

Future cycles taken on the EA pair may not be applied in the Asian session due to its very high spread (> 7 pips).

Note 1: Q boxes on charts are at a value of 40 so you can see that both cycles on AUDJPY + EURAUD would have closed in losses if the Expert was left at a Q exit value of 40. This is why on trending runs that the trader monitors exactly where Q exit values are likely to be at all times so that premature closure of cycles does not lead to immediate losses.

Note 2: All TP levels are in a position that forces a positive cycle subject to price meeting that level.

Note 3: notice how when the EA is pulled from the chart that some entries are missed.

Masterrmind...........
Master your Mind then Master your Trades
  • #612
  • Jul 12, 2016 10:53pm Jul 12, 2016 10:53pm
Whatever.
  • #613
  • Jul 12, 2016 11:22pm Jul 12, 2016 11:22pm
@ metta87 and (@ Soros) ...........

Welcome back after your session in the sin bin!

Keep any comments you post to any of my threads very very civil.

Next offense will result in a much longer term out in the wilderness.

Good trading,

Masterrmind...........
Master your Mind then Master your Trades
  • #614
  • Jul 13, 2016 12:25am Jul 13, 2016 12:25am
Quoting Masterrmind
@ metta87 and (@ Soros) ........... Welcome back after your session in the sin bin! Keep any comments you post to any of my threads very very civil. Next offense will result in a much longer term out in the wilderness. Good trading, Masterrmind...........
i got on your nerves a bit since that last drawdown huh ?
thanks for having me back tho.
now lets watch the cent account mastersqam
  • #615
  • Jul 13, 2016 1:06am Jul 13, 2016 1:06am
Quoting metta87
{quote} i got on your nerves a bit since that last drawdown huh ? thanks for having me back tho. now lets watch the cent account mastersqam
Nope!

I never let anyone get on my nerves.

Negative distractions without any basis will not be tolerated.

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

I'll outline some additional techniques that will be applied on the Cent account in due course.

As this account unfolds I can already see a need to have a different strategy to how the initial account was traded.

This has a lot to do with the ratio of balance to lot size being much higher on the Cent account.

The Cent Account might thrive from a suitable "Progressive lot sequencing" cycle of trades.

Mainly because I seek such a large amount of pips but also because on larger cycle ranges I need to use a technique that allows the account to recover (market willing ofcourse) from a longer term trend situation which might only have a smaller pullback in PA.

If constant lot size entries are only applied then to return a net positive cycle the pullback needs to be far deeper than if progressive lot sequencing is applied.

With larger cycles taken the number of pairs traded at the same time will be reduced so perhaps only the 1 pair will be traded at a time.

If the account develops some decent growth then I can start looking to implement more pairs into the mix or ever so slightly increasing position sizes.

Time will tell!

Masterrmind..............
Master your Mind then Master your Trades
  • #616
  • Jul 13, 2016 7:54am Jul 13, 2016 7:54am
Quoting Masterrmind
{quote} Nope! I never let anyone get on my nerves. Negative distractions without any basis will not be tolerated. ++++++++++++++++++++++++++++++++++++++++++++ I'll outline some additional techniques that will be applied on the Cent account in due course. As this account unfolds I can already see a need to have a different strategy to how the initial account was traded. This has a lot to do with the ratio of balance to lot size being much higher on the Cent account. The Cent Account might thrive from a suitable "Progressive lot sequencing" cycle...
i like that!! now lets watch the cent account grow.
  • #617
  • Jul 13, 2016 8:36am Jul 13, 2016 8:36am
Quoting metta87
{quote} i like that!! now lets watch the cent account grow.
That is the plan.

However, the first 2 cycles (AJ + EA) are proving to be rather large (which is great provided DD is contained).

Lets see what tomorrow brings as I leave these cycles to run again overnight.

ps. I have not set a limit on maximum floating DD either since this account will be traded a little differently with the limit being reduced over time if the account manages to grow.

pps. I wanted large cycles of trades and low and behold I got 2 .....

Masterrmind.............
Master your Mind then Master your Trades
  • #618
  • Jul 13, 2016 8:55am Jul 13, 2016 8:55am
Quoting Masterrmind
{quote} That is the plan. However, the first 2 cycles (AJ + EA) are proving to be rather large (which is great provided DD is contained). Lets see what tomorrow brings as I leave these cycles to run again overnight. ps. I have not set a limit on maximum floating DD either since this account will be traded a little differently with the limit being reduced over time if the account manages to grow. pps. I wanted large cycles of trades and low and behold I got 2 ..... Masterrmind.............
yeah, a dollar here a dollar there, maybe you ll reach your goal.
  • #619
  • Jul 14, 2016 2:05am Jul 14, 2016 2:05am
AJ + EA cycles continue to unfold.

Huge cycles now with additional manual entries all at 0.1 lots.

Further entries may be added at a later time although currently 125 trades are in action.

Max. floating DD has hit about 10.9%.

Masterrmind............
Master your Mind then Master your Trades
  • #620
  • Jul 14, 2016 2:16am Jul 14, 2016 2:16am
Quoting Masterrmind
AJ + EA cycles continue to unfold. Huge cycles now with additional manual entries all at 0.1 lots. Further entries may be added at a later time although currently 125 trades are in action. Max. floating DD has hit about 10.9%. Masterrmind............
Note that no closed trades have been made in the trading account yet.

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