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QAM Trading Journal $US1000 to ???

  • #701
  • Aug 22, 2016 8:53pm Aug 22, 2016 8:53pm
Quoting OctaveJay509
{quote} 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...
That's right!

It will be constant lot sizes (0.1 lots per trade) until at least the 200 000 mark and then I'll make a thorough assessment at the time.

If you go too large too soon and at the wrong time then the DD will escalate as trades pull against you and the account will blow up in your face!

Not painting a very nice picture that sentence above is it? .....

The GBP currency certainly has my attention too but I'm not bullish on this just yet ... I may post a setup when I am!

Yes the Yellen speech .... something to look forward too ...

Wish the best to you too and rip some profit out of this big old market!

Masterrmind............
Master your Mind then Master your Trades
  • #702
  • Aug 22, 2016 9:06pm Aug 22, 2016 9:06pm
GBPJPY [M5; 40 - MN 210]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 46 KB


Cycle commenced by Expert but no entries just yet.

Nice current 40 pip range between the Q highs and lows so we'll see how that develops over time.

Masterrmind...........
Master your Mind then Master your Trades
  • #703
  • Aug 22, 2016 9:51pm Aug 22, 2016 9:51pm
Quoting Masterrmind
GBPJPY [M5; 40 - MN 210] {image} Cycle commenced by Expert but no entries just yet. Nice current 40 pip range between the Q highs and lows so we'll see how that develops over time. Masterrmind...........

what kind of charts do you use?
It look very nice .... sharing???
  • #704
  • Aug 22, 2016 11:15pm Aug 22, 2016 11:15pm
Quoting aarontdang
{quote} what kind of charts do you use? It look very nice .... sharing???
Hi aarontdang,

All what you need is over at the Q A M Trading Strategy thread available from the following link:

http://www.forexfactory.com/showthread.php?t=580721

Read at least Post #1 so you have an idea of what its all about.

For the Experts just click on the paperclip icon top right of page and look for the Quantum EA zip folder, Pivots and Fibs indi and some trade management tools.

The trading account started off as a US$1000 account (Pepperstone) trading 0.01 lots however, it proved to be very challenging attempting to deal with spikes in the DD so after a few months a different type account was sourced that would allow for a much greater ratio between account balance and lot sizes.

This led to a cent account (FX-TM) so I simply deposited the initial balance + small gain from the first account and transferred it to the cent account.

The cent account started with the same 102 636 USC amount and will be traded until it grows to perhaps 500 000 USC to 1 000 000 USC.

Then it will be returned to the original trading account (Pepperstone which remains active but idle) where the spreads are far lower and the execution times much faster because it is an ECN type account.

In short a "normal" trading account gives a ratio of 0.01 to 1000 which is 1:100 000
However, a cent account provides a ratio of 0.01 to 100 000 which is 1:10 000 000

Although I am currently applying 0.1 cent lots per trade not the minimum which is 0.01 cent lots per trade.
So it is possible to trade this strategy 10 times smaller than what I currently am!

At this stage I think 0.1 cent lots is small enough as it equates to about 1 USC per pip (depending on currency pair being traded of course).

So I need 100 pips to make about US$1.

Hence the reason to generate very large cycles of trades where 1000's of pips in profit are ideal provided that the DD is controlled.

In the future I plan to apply progressively larger lot sizes in the cycles to generate higher profit for a given number of pips but this won't be until the account at least doubles.

I hope this helps you understand more about my strategy.

Note 1: This QAM Method is only 1 of my strategies and certainly not my main strategy (not even close) so it should be viewed as the type of strategy a trader would apply to money they are prepared to lose if things go wrong. Uncontrolled DD is the major evil in this method meaning that it needs to be controlled if the account is to survive over the longer term. Think of this journal as my attempt to show that it is possible!

Note 2: Time will tell if I can successfully grow this very small account right through to the ultimate goal which is the big 1M!!

Note 3: Ideally the QAM Method is suited to a much larger starting balance >>$10K with a 50K-100K account being very easy to trade ....

Note 4: Once I start implementing the progressive lot sequencing then the growth can really accelerate! But we need to crawl-walk-then RUN!

Good trading,

Masterrmind...........
Master your Mind then Master your Trades
  • #705
  • Aug 23, 2016 12:51am Aug 23, 2016 12:51am
Quoting Masterrmind
GBPJPY [M5; 40 - MN 210] {image} Cycle commenced by Expert but no entries just yet. Nice current 40 pip range between the Q highs and lows so we'll see how that develops over time. Masterrmind...........
GBPJPY [M5; 40]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 45 KB


1 completed short cycle.

Look at the 7.9 spread and the Expert closed out this trade ... you can see what a difference the spread makes to the closing price level ... can be nasty.

This is just 1 thing I must contend with using a cent account.

If the ranges are very low be very careful because profitable trades could turn into losers due to the spread.

Masterrmind........
Master your Mind then Master your Trades
  • #706
  • Aug 23, 2016 12:15pm Aug 23, 2016 12:15pm
Quoting Masterrmind
{quote} That's right! It will be constant lot sizes (0.1 lots per trade) until at least the 200 000 mark and then I'll make a thorough assessment at the time. If you go too large too soon and at the wrong time then the DD will escalate as trades pull against you and the account will blow up in your face! Not painting a very nice picture that sentence above is it? ..... The GBP currency certainly has my attention too but I'm not bullish on this just yet ... I may post a setup when I am! Yes the Yellen speech .... something to look forward...

200,000 mark is a reasonable Target, and at that time you will be in a point where you are simply
using your profits to make profits...Then again, As long as you maintain your composure, and stick to the same rules,
you will do just fine.....

There's going to be a time where you are holding a pair like EA on a 20 standard lot while this thing is still moving
towards 200+pips and won't care to close it yet. Haha!!!

Later mate!
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #707
  • Aug 23, 2016 9:14pm Aug 23, 2016 9:14pm
Quoting OctaveJay509
{quote} 200,000 mark is a reasonable Target, and at that time you will be in a point where you are simply using your profits to make profits...Then again, As long as you maintain your composure, and stick to the same rules, you will do just fine..... There's going to be a time where you are holding a pair like EA on a 20 standard lot while this thing is still moving towards 200+pips and won't care to close it yet. Haha!!! Later mate!
My idea is to build up a sizeable buffer profit in the early stages as you commented.

Allowing the buffer profit to soak up some of the DD is the key idea behind this without eating into too much of the starting capital.

The big trending pair is the one to watch but I plan to trim off trades earlier rather than later after the account doubles (if it does).

Oddly enough this account has cruised through DD periods greater than 200 pips on a pair and easily survived with 100 entries in play.

Lets see how this all unfolds but I'm quietly confident.

Masterrmind...........
Master your Mind then Master your Trades
  • #708
  • Aug 24, 2016 1:31am Aug 24, 2016 1:31am
Quoting Masterrmind
{quote} My idea is to build up a sizeable buffer profit in the early stages as you commented. Allowing the buffer profit to soak up some of the DD is the key idea behind this without eating into too much of the starting capital. The big trending pair is the one to watch but I plan to trim off trades earlier rather than later after the account doubles (if it does). Oddly enough this account has cruised through DD periods greater than 200 pips on a pair and easily survived with 100 entries in play. Lets see how this all unfolds but I'm quietly confident....
It might take you some time to build it, but I think that you are clearly on the right path....

Your Entries on EA were ideal, and I am telling you if you could get at least 3 or 4 great setups like this every
2 weeks, especially on the H4TF, you could easily make it happen in no time...

I have done a lot of Analysis on the H4TF, and most of the time, my predictions reach Targets a week or 2 later.
Lack of patience prevent me from sticking to that weekly plan, and at time, I sabotage my trading plan altogether.

Anyway, since you are so dedicated to make it a reality, I just wanted to remind you to keep taking any trades
setups like this:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-08-24 01.29.06.png Size: 112 KB


Wish you all the best mate!
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #709
  • Aug 24, 2016 1:57am Aug 24, 2016 1:57am
Quoting OctaveJay509
{quote} It might take you some time to build it, but I think that you are clearly on the right path.... Your Entries on EA were ideal, and I am telling you if you could get at least 3 or 4 great setups like this every 2 weeks, especially on the H4TF, you could easily make it happen in no time... I have done a lot of Analysis on the H4TF, and most of the time, my predictions reach Targets a week or 2 later. Lack of patience prevent me from sticking to that weekly plan, and at time, I sabotage my trading plan altogether. Anyway, since you are so dedicated...
Thanks Jay.

I've mentioned the longer term setups previously and certainly plan to use them as additional fuel to grow the account.

You do need a lot of patience to run these types of setups ... that is for sure!

I've got my eye on multiple HTF setups at the moment including a few of the GBP pairs but not ready to put them into action just yet.

I like your honesty and you are right many traders have problems with patience especially allowing the longer term trades to run their course.

For longer term trades I'll simply slowly tighten up the stops as trades progress but keep plenty of distance between price and trailing stops.

Similar to what I've done with the EA longs by locking in 100 pips per trade after price has moved 250 pips ....

This QAM Strategy will actually evolve over time as experience is gained from trading on this small account by keeping the good ideas and throwing out the bad ones.

Perhaps at the end of this journey (if the ultimate goal is achieved) the path taken might lead to a workable trading plan.

In any event I'll keep doing what I'm doing and continue to steer this ship around the multitude of dangerous reefs!

Let's see where it ends!

Masterrmind............
Master your Mind then Master your Trades
  • #710
  • Aug 24, 2016 9:13am Aug 24, 2016 9:13am
Multiple trades closed out on the following pairs:

EURGBP and EURAUD

The EURAUD pair was meant for a longer term setup however, based on rapid decline in PA I decided to close out the 10 long trades.
May look to re-enter this pair again at a later time.

Masterrmind..........
Master your Mind then Master your Trades
  • #711
  • Aug 24, 2016 11:21am Aug 24, 2016 11:21am
Upon re-setting my Q to 40 and marking the Asian session to just before the start of the Frankfurt open, my mistakes become obvious.

I must admit I ventured off the path you laid out.

Settings changed back to Q=40 on the M5 TF

Switched to the following pairs only: AUD/JPY, AUD/USD, EUR/AUD, EUR/GBP and GBP/JPY

Henceforth new positions will be opened only at or near to the start of the Asian session and based on the pairs you open as posted here on FF or on Myfxbook.

I am spending the rest of today studying your trades on myfxbook and studying the charts but I think I see what I was doing wrong.

Thank you again, Masterrmind, for your guidance!
Don't look down when learning to fly.
  • #712
  • Aug 24, 2016 11:53am Aug 24, 2016 11:53am
Quoting Platanero
Upon re-setting my Q to 40 and marking the Asian session to just before the start of the Frankfurt open, my mistakes become obvious. I must admit I ventured off the path you laid out. Settings changed back to Q=40 on the M5 TF Switched to the following pairs only: AUD/JPY, AUD/USD, EUR/AUD, EUR/GBP and GBP/JPY Henceforth new positions will be opened only at or near to the start of the Asian session and based on the pairs you open as posted here on FF or on Myfxbook. I am spending the rest of today studying your trades on myfxbook and studying the...
Yes check out the pairs I trade as I will usually post them here in advance of taking a cycle and if not then certainly at the time I start a new cycle.

I have 28 trades still running at the moment but I'll try to close them out asap (that could be anytime though).

When they are all closed out I'll post the next set of pairs I'll be trading.

It could be any of the pairs as per the previous screenshot NOT only the ones you listed in your post so be aware of this.

The most important part is to be aware of the DD!

Try to control it.

Most traders only look at the growth of the equity curve and forget all about learning the system.

I commend you on taking the first steps to learn the method.

Just realize that this is just as much a method as it is a project so we have no idea what we might face heading into future cycles.

Ask me all the questions you want as I'm here to help.

ps. you never know you might end up being the one that takes your account all the way to glory!

Good trading,

Masterrmind...........
Master your Mind then Master your Trades
  • #713
  • Aug 24, 2016 11:57am Aug 24, 2016 11:57am
A wise man once told me, the majority are always wrong. Good trading Sir.
  • #714
  • Aug 24, 2016 11:57am Aug 24, 2016 11:57am
Quote
It could be any of the pairs as per the previous screenshot NOT only the ones you listed in your post so be aware of this.

Noted. I will keep that in mind.

Quote
Just realize that this is just as much a method as it is a project so we have no idea what we might face heading into future cycles.

Understood.

Quote
Ask me all the questions you want as I'm here to help.

Thank you!

Quote
you never know you might end up being the one that takes your account all the way to glory!

I can only hope!

Thank you again sir.
Don't look down when learning to fly.
  • #715
  • Aug 24, 2016 12:04pm Aug 24, 2016 12:04pm
Quoting Platanero
{quote} Noted. I will keep that in mind. {quote} Understood. {quote} Thank you! {quote} I can only hope! Thank you again sir.
I notice also that you are using a standard trading account.

I will assume you are aware of the issues of trading such an account if it is underfunded.

I am certainly not implying that your account is underfunded as the balance is hidden from view but if its much less than say 3K then you might find it a struggle depending on number of entries in the market at the same time.

If you are starting with an account >> 10K then you could almost follow my cycles of trades.

Alternatively I would recommend a cent account even though the spread is unfavorable ..... but in the end its your choice I just need to make you aware of the dangers of trading this method.

Hope that makes sense.

ps. this information is suitable for any trader attempting this method!

Masterrmind............
Master your Mind then Master your Trades
  • #716
  • Aug 24, 2016 12:10pm Aug 24, 2016 12:10pm
Quoting Axel
A wise man once told me, the majority are always wrong. Good trading Sir.
In FX trading certainly more are wrong than right!

Lets see if I can remain alert enough to avoid the evils of a nasty future cycle!

Time will tell.

Masterrmind...........
Master your Mind then Master your Trades
  • #717
  • Aug 24, 2016 12:17pm Aug 24, 2016 12:17pm
Quoting Masterrmind
{quote} I notice also that you are using a standard trading account. I will assume you are aware of the issues of trading such an account if it is underfunded. I am certainly not implying that your account is underfunded as the balance is hidden from view but if its much less than say 3K then you might find it a struggle depending on number of entries in the market at the same time. If you are starting with an account >> 10K then you could almost follow my cycles of trades. Alternatively I would recommend a cent account even though the spread is...
Yes sir. I am aware. It is standard. I will have to use discretion as well as not try to be everywhere at once. My acct is only a little over $2,300. So certainly a balancing act and I will not be able to mirror all of your trades 100%. I will be taking less trades on less pairs (most likely just one pair per cycle at any one time) and being selective as to when to enter the market even then. I may take one trade to your 5 or 10 but it should be about the same price area and pair.
Don't look down when learning to fly.
  • #718
  • Aug 24, 2016 12:23pm Aug 24, 2016 12:23pm
Quoting Platanero
{quote} Yes sir. I am aware. It is standard. I will have to use discretion as well as not try to be everywhere at once. My acct is only a little over $2,300. So certainly a balancing act and I will not be able to mirror all of your trades 100%. I will be taking less trades on less pairs (most likely just one pair per cycle at any one time) and being selective as to when to enter the market even then. I may take one trade to your 5 or 10 but it should be about the same price area and pair.
And you are a US resident I assume which means you are restricted to 50:1 leverage?

Otherwise I would certainly suggest that you convert to a similar cent account that I trade and your balance would be double mine meaning if you mirrored my trades your DD would be far less.

In any case, if you remain in the standard account you will have to limit your number of trades in a given cycle and trade 2 pairs maximum until your balance hits 5K then you can start thinking about adding a third pair if necessary.

Masterrmind............
Master your Mind then Master your Trades
  • #719
  • Aug 24, 2016 12:28pm Aug 24, 2016 12:28pm
Quoting Masterrmind
{quote} And you are a US resident I assume which means you are restricted to 50:1 leverage? Otherwise I would certainly suggest that you convert to a similar cent account that I trade and your balance would be double mine meaning if you mirrored my trades your DD would be far less. In any case, if you remain in the standard account you will have to limit your number of trades in a given cycle and trade 2 pairs maximum until your balance hits 5K then you can start thinking about adding a third pair if necessary. Masterrmind............

Yes, 50:1 but usually much less per actual trade.

Understood.

Thank you!
Don't look down when learning to fly.
  • #720
  • Aug 24, 2016 12:41pm Aug 24, 2016 12:41pm
Quoting Platanero
{quote} Yes, 50:1 but usually much less per actual trade. Understood. Thank you!
It might mean that you need to consider clustering the majority of your entries near key areas of support or resistance.

I think your account will also be a good challenge.

I'll be looking to trade a cycle on GJ in the early Asian session tomorrow so feel free to join in if you can.

ps. I also suggest you demo test the Expert so you become very familiar with its functionality as it makes entries much easier to manage unless you plan to manually place the majority of your trades.

pps. just about time for my rest .....

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