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  • #681
  • Aug 8, 2016 10:06pm Aug 8, 2016 10:06pm
Current situation on the AU + EG cycles

50 short trades on AU
50 short trades on EG

Current floating DD = 1.21%

Attached Image


Masterrmind...........
Master your Mind then Master your Trades
  • #682
  • Aug 9, 2016 3:33am Aug 9, 2016 3:33am
EURAUD [D1; 40]

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Looking to go long multiple entries in this pair very soon.

Will post in advance of entering the trades.

Looking at very large number of pips if price moves to the upside.

EA cycle will be a longer term setup lasting up to many weeks and will run in the background whilst other short to medium term cycles are traded.

Its sole purpose is to add growth to the account!

ps. entry possible after the next close of a bullish D1 candle!

Stay tuned!

Masterrmind...........
Master your Mind then Master your Trades
  • #683
  • Aug 9, 2016 3:48am Aug 9, 2016 3:48am
Hi Mastermind,

I believe we are somewhat trading a similar method. I enjoy reading through your thread, though I haven't covered most of the past pages yet.

I would just like to understand, why do you take multiple positions a few pips away from each other? I do the same thing but I open trades every 50 - 100pips and I look for closure through that.

Also, how do you handle the psychological factor when you take a trade that has negative swaps? I personally do not like taking trades that are against NZD and AUD.

Look forward to seeing more from you.

Cheers.
A 1 pip gain is better than a 1 pip loss.
  • #684
  • Aug 9, 2016 8:01am Aug 9, 2016 8:01am
Quoting aeternum
Hi Mastermind, I believe we are somewhat trading a similar method. I enjoy reading through your thread, though I haven't covered most of the past pages yet. I would just like to understand, why do you take multiple positions a few pips away from each other? I do the same thing but I open trades every 50 - 100pips and I look for closure through that. Also, how do you handle the psychological factor when you take a trade that has negative swaps? I personally do not like taking trades that are against NZD and AUD. Look forward to seeing more from you....
Hi aeternum,

Yes negative swaps are never ideal.

They are a cost of doing business and if the cycles look good but are headed in a direction that accumulates negative swap then so be it.

The profit always covers it in any case but if a cycle could be taken that offers positive swap then they will be given preference after all other trading factors have been considered.

Account currency is in USD (USC) by the way.

If the setup looks great in an AUD or NZD related pair then why worry about the swap its only a small portion of the trading costs.

Sometimes when I add multiple trades in tight clusters this is done manually via MT4 which is laborious and hence by the time the orders hit the chart there are gaps between them.

Obviously there is a far more efficient way such as using scripts which I do from time to time or better yet is to apply one larger lot size.

I do not apply the larger lot size because I want every trade to be constant at 0.1 lots (statistical reasons mainly).

This will change though once the account has doubled (if it does) and progressive lot sequencing is applied (that is when the fun really begins).

Feel free to post some of your charts and the way you trade if you like ... always welcome.

Good trading,

Masterrmind.............
Master your Mind then Master your Trades
  • #685
  • Aug 9, 2016 8:56am Aug 9, 2016 8:56am
Quoting Masterrmind
{quote} Hi aeternum, Yes negative swaps are never ideal. They are a cost of doing business and if the cycles look good but are headed in a direction that accumulates negative swap then so be it. The profit always covers it in any case but if a cycle could be taken that offers positive swap then they will be given preference after all other trading factors have been considered. Account currency is in USD (USC) by the way. If the setup looks great in an AUD or NZD related pair then why worry about the swap its only a small portion of the trading costs....
Well, if you put it in the business sort of way, then yeah. I guess you can take it as a cost of doing business.

I enjoy holding on to trades though, even if they are losing trades. I know it's a really bad thing to do. And I'm trying to get rid of that habit. So since I enjoy holding on to trades, it's quite bad for me to take a position with negative swaps, since I will be losing capital and interest.

I see. I was planning to do the same thing as well, to only increase lot sizes when my account has doubled. But I realised that if I changed the lot sizes and match it with my trading sentiments, I get much better results. I wouldn't say I have doubled my account, since I was in heavy losses during the first 3 years of my trading. But I have cleared those losses and am currently green, which is still great.

I used to have a journal. The reason why I stopped was because I felt that there I had relied on the forum too much and I did not focus on my trading style enough. Not only that, I didn't like the thought of making my trades public. Which meant others could trade against me. Call me bias, but I just want to lie low.

Cheers.
A 1 pip gain is better than a 1 pip loss.
  • #686
  • Aug 9, 2016 9:20am Aug 9, 2016 9:20am
Quoting aeternum
{quote} Well, if you put it in the business sort of way, then yeah. I guess you can take it as a cost of doing business. I enjoy holding on to trades though, even if they are losing trades. I know it's a really bad thing to do. And I'm trying to get rid of that habit. So since I enjoy holding on to trades, it's quite bad for me to take a position with negative swaps, since I will be losing capital and interest. I see. I was planning to do the same thing as well, to only increase lot sizes when my account has doubled. But I realised that if I changed...
Your post makes sense!

Making your trades public does offer the benefit of really thinking about your trades before you take them.

It can build confidence too but each to their own.

At the end of the day the only thing you need to prove is that you can consistently make profit ... and only you need to know that!

Masterrmind.............
Master your Mind then Master your Trades
  • #687
  • Aug 13, 2016 8:41am Aug 13, 2016 8:41am
END OF WEEK SUMMARY

AUDUSD [Short Cycle]

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EURGBP [Short Cycle]

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AUDUSD = 120 short trades
EURGBP = 120 short trades

Current floating DD = -12.08%

Attached Image


Initially no maximum floating DD is applied as mentioned previously.
It is expected that trades may be closed out as a staged sequence should the floating DD start eating into all of the profit.

The AUDUSD cycle has just started turning net positive so we'll see how that develops.
The EURGBP cycle continues to pull away so we'll need to keep a close watch on it as it unfolds.

Masterrmind.............
Master your Mind then Master your Trades
  • #688
  • Aug 14, 2016 9:17pm Aug 14, 2016 9:17pm
EURAUD [D1; 40]

10 long entries will be initiated.

Masterrmind..........
Master your Mind then Master your Trades
  • #689
  • Aug 14, 2016 9:45pm Aug 14, 2016 9:45pm
Quoting Masterrmind
EURAUD [D1; 40] 10 long entries will be initiated. Masterrmind..........
EURAUD [D1; 40/manual]

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10 longs entered.

Likely that more entries will be made over time as trades progress or when significant pullbacks to the downside occur.

Plenty of room allowed on these trades.

Masterrmind............
Master your Mind then Master your Trades
  • #690
  • Aug 19, 2016 4:27am Aug 19, 2016 4:27am
AUDUSD + EURGBP short cycles

Multiple profitable trades closed out as per screenshots.

AU

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EG

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Masterrmind............
Master your Mind then Master your Trades
  • #691
  • Aug 19, 2016 10:39pm Aug 19, 2016 10:39pm
END OF WEEK SUMMARY

AUDUSD [Short Cycle]

Attached Image (click to enlarge)
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EURAUD [Long Cycle]

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EURGBP [Short Cycle]

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AUDUSD = 15 short trades
EURAUD = 10 long trades.
EURGBP = 120 short trades

Current floating DD = -12.71%
Attached Image


No maximum floating DD limit is being applied at the early stages of this account as mentioned previously.
As the account growth reaches higher levels (perhaps greater than 100% gain) then limits will start to be applied on maximum floating DD.
It is expected that trades may be closed out as a staged sequence should the floating DD start eating into all of the gained profit.

The AUDUSD cycle had multiple trades closed out and now has only 15 shorts in action (additional trades may be added next week).
The EURAUD cycle (10 longs) continues to progress well as a longer term cycle.
The EURGBP cycle also had multiple trades closed out but continues with 120 shorts still in action.

Some degree of balancing out the 3 pairs will take form over the upcoming week.

Masterrmind.............
Master your Mind then Master your Trades
  • #692
  • Aug 21, 2016 8:52pm Aug 21, 2016 8:52pm
GBPJPY [M5; 40 - MN 110]

A few shorter term cycles will be applied on this pair today.

Carefully monitored although it is expected to be a rather ranging Asian session today.

Lets see!

Masterrmind...........
Master your Mind then Master your Trades
  • #693
  • Aug 21, 2016 9:22pm Aug 21, 2016 9:22pm
Quoting Masterrmind
GBPJPY [M5; 40 - MN 110] A few shorter term cycles will be applied on this pair today. Carefully monitored although it is expected to be a rather ranging Asian session today. Lets see! Masterrmind...........
GJ [M5; 40]

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Masterrmind...........
Master your Mind then Master your Trades
  • #694
  • Aug 21, 2016 11:00pm Aug 21, 2016 11:00pm
EA [D1 Chart]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 54 KB


Trades are all just shy of +270 pip gain per entry so going well.

All 10 SLs moved up now to lock in 100+ pips per trade (+1000 pips in total) on this pair only making it a free ride now.

SLs may be adjusted to lock in 250 pips each if trades get to +500 pips each.

Lets see!

Masterrmind...........
Master your Mind then Master your Trades
  • #695
  • Aug 22, 2016 2:17am Aug 22, 2016 2:17am
Quoting Masterrmind
{quote} GJ [M5; 40] {image} Masterrmind...........
GBPJPY [M5; 40/100/manual]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 50 KB


1 completed short cycle.

Manual close.

Note: Expert modified to Q=100 however, decided to close trades earlier at close to Q=40 exit.

Masterrmind..........
Master your Mind then Master your Trades
  • #696
  • Aug 22, 2016 4:41am Aug 22, 2016 4:41am
Quoting Masterrmind
{quote} GBPJPY [M5; 40/100/manual] {image} 1 completed short cycle. Manual close. Note: Expert modified to Q=100 however, decided to close trades earlier at close to Q=40 exit. Masterrmind..........
You always find a way to make some quick profits on a quiet Market...

Way to go Mastermind!!!
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #697
  • Aug 22, 2016 5:10am Aug 22, 2016 5:10am
Quoting OctaveJay509
{quote} You always find a way to make some quick profits on a quiet Market... Way to go Mastermind!!!
Hey Jay,

Yes it adds a few more pips to the overall tally I guess but nothing too exciting today.

With the EA pair headed nicely into positive territory I thought why not set a GJ cycle loose on a quiet Monday Asian session.

Would have liked a bit more volatility though and 2 cycles but the market only gives out what it can.

Tomorrow I'll probably hit the GJ pair again subject to the situation on all cycles at that time since I need to keep a watch on the DD.

Very tempting to apply higher lot sizes to some of these trades but I'll refrain for now ... want to double the account using constant 0.1 lots per trade.

Thanks for stopping by ... hope all is well with your trading too.

Masterrmind...........
Master your Mind then Master your Trades
  • #698
  • Aug 22, 2016 1:17pm Aug 22, 2016 1:17pm
Wow! Daily charts eh? Nice work. Will need to catch up on these. Looks like your Q is 40?
  • #699
  • Aug 22, 2016 2:33pm Aug 22, 2016 2:33pm
Quoting Masterrmind
{quote} Hey Jay, Yes it adds a few more pips to the overall tally I guess but nothing too exciting today. With the EA pair headed nicely into positive territory I thought why not set a GJ cycle loose on a quiet Monday Asian session. Would have liked a bit more volatility though and 2 cycles but the market only gives out what it can. Tomorrow I'll probably hit the GJ pair again subject to the situation on all cycles at that time since I need to keep a watch on the DD. Very tempting to apply higher lot sizes to some of these trades but I'll refrain...

The way you trade requires a lot of patience and discipline, and there's no need to change that or add higher lot sizes...

Your contingency plan (recovery mode approach) will be needed when it's necessary, and I have seen how well you have done
when your back is against the wall...

Anyway, I expect a little bit of chaos this week since Janet yellen is going to speak on Friday, and most traders don't like to trade
on Fridays.

Things are going, and my trading has been quiet lately...

Wish you all the best this week...

Note: Trading EA pair last week was a great choice, and let's hope it moves much higher. Haha!

Jay
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #700
  • Aug 22, 2016 8:35pm Aug 22, 2016 8:35pm
Quoting diamonddbw
Wow! Daily charts eh? Nice work. Will need to catch up on these. Looks like your Q is 40?
Hi daimonddbw,

Nice to see you here again.

You are right, the Daily charts do use a Q=40 value.

Interestingly, multiple other Q values can also be applied for example, Q=30, 40, 50, 60 etc.

Also take a look at the H1 and H4 TFs using this same combination of Quantum values and you'll find plenty of setups.

Note too that I went long from a very high probability zone of longer term support on the EURAUD longs and not purely from a Q box and allowed for a very large stop in these trades in case price decided to drop down again and test the lows before heading up the chart.

Risk per cycle was determined in the 10 by EA [D1; 40] longs so I knew what the loss could be.

I plan to continue introducing higher TF cycles as I see opportunities with anywhere from a few trades say minimum 10 up to 25 and allow them to simply unfold in the background while shorter term intra day cycles play out.

Obviously if the account is in a spot of DD bother at the time then these additional longer term trades will be postponed until later.

ps. I might start posting a few H4 and D1 charts where I see longer term opportunities so that others can think about taking cycles even if I cannot.

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