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My Journey from $200 to $200,000

  • #21
  • Edited Mar 13, 2017 1:23am Mar 12, 2017 10:04pm | Edited Mar 13, 2017 1:23am
Quoting Price
Hello.... clearly something changed on March 3rd. as 7 out of 10 pages of history are just the last few days. (And most of the profit has been as well). For a martingale system that even survived last week - being in any yen pairs - is a good thing. Look what DollarYen has done lately. (Twice in the last two weeks USD/JPY has gone on a straight up trend that would break any martingale that would continue to add shorts beyond available margin). Those are the kind of regular trends that are more likely to cause deep drawdowns in these strategies....
Thanks for your clever observation friend! So to avoid any "too big volatile"/"too strong trending" which could blow me up and hit my "equity protection", im developing some feature to detects the ranging behaviour of 28 different pairs based on period which my equity could handle. judging from this, i would need to find ways of how much loss would i experience in each pairs (as im trading on 3 pairs a day) given that i have "equity protection". Well it would be some serious pain in my ass to just let it hit 60% losses which caused by market's "unfriendly behaviour" without doing anything beforehand. So finally after coding and thinking overnight to find a way to know how i could choose the right pairs which wouldnt give me too much pain later if something bad happens.. well i mean technically.. lol

the use of ATR was inspired by LuXing, and the idea of "equity protection" was given to me by fxwealth! Thanks to both of them!

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Greed is good, as long as patience and discipline walk together with it
  • #22
  • Mar 13, 2017 11:49am Mar 13, 2017 11:49am
Hi So take a little connect, I do not know exactly how your system works but operates several EA-based buying positions, to me proved very successful in terms of safety and low DD so as not to use classic martingale multipliers but sets lots.
Give examples: martingale is a classic example. 0.01, 0.03, 0.05, 0.13, 0.34, 0.89, etc.
Me pays to use a set of lots 5 x 0.01, 5x 0.02 , 5x 0.03, 0.05 5x, 5x 0.07 etc...
Ratio and the number may be different depending on your strategy, but more short positions on the same volume. 5 may not be necessary but it should be 3x depends what your spacing between positions
Of course it goes a little profit, and trade takes longer but will drop considerably DD, try to test ...
I am sorry for my bad English
  • #23
  • Mar 13, 2017 2:07pm Mar 13, 2017 2:07pm
The Death Trade

Many martingale strategies / EAs can run profitably for a long time without ruining an account.
A long time can even be 5 to 6 years, but sooner or later it will get the so called "death trade" that will wipe out the entire account.

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Avoiding trading when there is Red News on the currencies surely helps, but there are no guarantees as such to avoid this "death trade" scenario.

The following might help as well, a bit of food for thought for you guys (-;
Take the Daily Range of a currency over a period of X days (take a decent sample size).
Calculate the average and the sample standard deviation. (Before you start arguing, yes I know currencies and stocks do not necessarily follow a normal distribution model). Take the average and add 3 standard deviations.
What do you get ?

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You will get (pretty close) to a maximum range in pips for that pair that will encompass 99.8% of the observations.

This data can be dropped into your own Excel simulator, that will allow you to calculate how deep your pockets should be for any given currency in most scenarios.
A simulator, using the most basic and essential elements, would look something like this.

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DBMML stands for the Drop (in pips) Beyond the Maximum Martingale Level you have defined.
I am not saying this is the holy grail, but just trying to help you by giving new ideas.

Cheers,
LuXing


@Shanks
I would advise to run only 1 pair on your live account until your equity's up to 1.000 at least, best choices being EURUSD or USDJPY
Wisdom begins in wonder
  • #24
  • Edited Mar 14, 2017 1:50am Mar 13, 2017 10:12pm | Edited Mar 14, 2017 1:50am
Quoting LuXing
The Death Trade Many martingale strategies / EAs can run profitably for a long time without ruining an account. A long time can even be 5 to 6 years, but sooner or later it will get the so called "death trade" that will wipe out the entire account. {image} Avoiding trading when there is Red News on the currencies surely helps, but there are no guarantees as such to avoid this "death trade" scenario. The following might help as well, a bit of food for thought for you guys (-; Take the Daily Range of a currency over a period of X days (take a decent...
You are undeniably true sir, the reason that i still trading in 3 pairs when i dont even have adequate margin yet like you said is because not only did it digs more profit everytime retracements occurring, but also each pairs will always generate hedging thus collecting some pennies everytime it waits for some retracing to happen. But, yes this is also absolutely NOT a holy grail, therefore i created a "Force terminate" button to close all opened orders and suspending all trading activities whether its in surplus or deficit state in terms of equity when anything goes wrong while giving me notification to my mobile or when i think its enough for today because it hasnt reached the percentage of daily's targeted growth. But, if it did reached the daily targeted growth, then it will automatically close all opened orders and suspending all trading activities. But, like always, i will continue to keep learning and look forward to any of your suggestions and i am so glad that you are so generous for sharing your experience and knowledge, people like you deserved more admiration! Green pips and God bless you sir!

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Greed is good, as long as patience and discipline walk together with it
  • #25
  • Mar 16, 2017 3:18am Mar 16, 2017 3:18am
Shanks, first of all, congratulations on being so brave to share something most think it is impossible. For those unfortunate souls, it is impossible. I guarantee you that. They set it as such and Life is merciful - will gladly deliver the EXPECTED OUTCOME...

Second, this is POSSIBLE, but it it will not be an easy journey. Making the first 3-4k will be the hardest part of all.

I will tell you what is "impossible". From my own life's experience.

Once, at 20-22 of age, I had to live in an abandoned hotel for two years. Work for no salary during that period. Had €0.50 (fifty euro cents) a day to eat. 20 yrs later, I am driving a nice car that costs 6-digit amount in euros.

Just imagine. Would anyone from my poor background imagine this would ever be possible, some 20 years ago? You just have no idea what humiliation I had to face, each time I was arguing with them I am going to make it up there to that goal...

So, drive carefully. Use brakes and throttle properly at the right places.

If you think you can make it, sure it is possible (for you, not for every body else)!

Good luck! I hope you can make it up to $200k! ALWAYS DREAM BIG!
Maadik Hugiis. IQ 69.
  • #26
  • Mar 16, 2017 10:51am Mar 16, 2017 10:51am
Quoting MoneyZilla
Shanks, first of all, congratulations on being so brave to share something most think it is impossible. For those unfortunate souls, it is impossible. I guarantee you that. They set it as such and Life is merciful - will gladly deliver the EXPECTED OUTCOME... Second, this is POSSIBLE, but it it will not be an easy journey. Making the first 3-4k will be the hardest part of all. I will tell you what is "impossible". From my own life's experience. Once, at 20-22 of age, I had to live in an abandoned hotel for two years. Work for no salary during that...
Wow, i am so grateful to your kind words sir! Thank you for giving me motivation to keep doing my best to achieve my goals some day. I am also honored to hear your life story which helps me to realize that dreaming high doesnt mean it would be impossible to reach, but it depends on how much we have dedicated and focused to our dream to make it come true, I hope i can be successful like you and the other top traders! Thank you for your kind words sir!
Greed is good, as long as patience and discipline walk together with it
  • #27
  • Mar 19, 2017 2:44pm Mar 19, 2017 2:44pm
Just checking in on your TE after a week of absence and happy to see that you switched off your EA Thursday 16th March...
I hope you did not run the EA on Friday intentionally ?

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The third Friday of each Quarter (March, June, September and December) is known as "Quadruple Witching Day" and traders need to exercise a lot of caution those days.
It is the expiration date of stock options, stock futures, stock index futures and stock index options: all on the same day !
Although you are not trading options, those who do trade them will exercise their "in the money" options and cause huge volumes and volatility...
Write down the next Quadruple Witching dates in your agenda, better to shut your EA down and watch from the sidelines ;-)

All the best in your journey to 200K !

LuXing
Wisdom begins in wonder
  • #28
  • Mar 19, 2017 2:47pm Mar 19, 2017 2:47pm
Quoting Shanks
Thank You for visiting my first trading journal! This is my first biggest challenge I made for myself ever since I begin trading Forex. I am a Technical Trader, trying my best to achieve this challenge and I hope for any kind traders who are an expert, familiar, or even just knowing some part of Martingale strategy to give me any suggestion based on your experience, I would really appreciate it! Kind regards, Shanks
It's great to see you're doing well. Do you also have a myfxbook? It would be easier to read the statistics on your eye candy.
  • #29
  • Edited 1:03am Mar 20, 2017 12:42am | Edited 1:03am
Quoting LuXing
Just checking in on your TE after a week of absence and happy to see that you switched off your EA Thursday 16th March... I hope you did not run the EA on Friday intentionally ? {image} The third Friday of each Quarter (March, June, September and December) is known as "Quadruple Witching Day" and traders need to exercise a lot of caution those days. It is the expiration date of stock options, stock futures, stock index futures and stock index options: all on the same day ! Although you are not trading options, those who do trade them will exercise...
Yes, you are right sir! i stopped my trading during last week thursday and friday, because yeah some scary things happen, plus you know im not a good fundamentalist so its better to get out of situation that i didnt know well. instead of trading, i just withdrew some of my profit.. lol hahahha
Greed is good, as long as patience and discipline walk together with it
  • #30
  • Mar 20, 2017 12:50am Mar 20, 2017 12:50am
Quoting TGS
{quote} It's great to see you're doing well. Do you also have a myfxbook? It would be easier to read the statistics on your eye candy.
GoldenMidas LIVE here it is my friend! i like how myfxbook made a chart for monthly statistic and many more feature to show our past trading performances plus there is also daily/weekly/monthly/yearly trading goals feature for us to set it, well done.
Greed is good, as long as patience and discipline walk together with it
  • #31
  • Mar 20, 2017 4:19am Mar 20, 2017 4:19am
Can I have your EA to check on lower timeframes ? I want to see how it performs in different conditions
Thanks
  • #32
  • Apr 4, 2017 2:10pm Apr 4, 2017 2:10pm
Quoting Shanks
{quote} GoldenMidas LIVE here it is my friend! i like how myfxbook made a chart for monthly statistic and many more feature to show our past trading performances plus there is also daily/weekly/monthly/yearly trading goals feature for us to set it, well done.
It's showing it was deleted, is there a new link for the GoldenMidas performance?

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  • #33
  • Apr 5, 2017 12:33am Apr 5, 2017 12:33am
Quoting TGS
{quote} It's showing it was deleted, is there a new link for the GoldenMidas performance? {image}
He was trading grid on a tiny account. It was blown.
  • #34
  • Apr 5, 2017 12:54am Apr 5, 2017 12:54am
Quoting VincentGallo
{quote} He was trading grid on a tiny account. It was blown.
Ah, it would be good to see someone go from $200 to $200K. I blew my account using grid when I was a newbie. I've stayed away from grids ever since.
  • #35
  • Apr 26, 2017 1:26pm Apr 26, 2017 1:26pm
Quoting TGS
{quote} Ah, it would be good to see someone go from $200 to $200K. I blew my account using grid when I was a newbie. I've stayed away from grids ever since.
Anyone else with geometric account growth? (live or demo)
  • #36
  • Apr 26, 2017 1:48pm Apr 26, 2017 1:48pm
Quoting TGS
{quote} Anyone else with geometric account growth? (live or demo)
There is 1 usd13 to 150k live TE in FF, not sure if this is valid.
Attached Image
Self discipline It is a practice
  • #37
  • Apr 26, 2017 1:50pm Apr 26, 2017 1:50pm
Quoting okshop
{quote} There is 1 usd13 to 150k live TE in FF, not sure if this is valid. {image}
Is there a link to this TE?
  • #38
  • Apr 26, 2017 1:54pm Apr 26, 2017 1:54pm
Quoting TGS
{quote} Is there a link to this TE?
https://www.forexfactory.com/guranga....53-tab.report
Self discipline It is a practice
  • #39
  • Apr 26, 2017 1:58pm Apr 26, 2017 1:58pm
Quoting okshop
{quote} https://www.forexfactory.com/guranga....53-tab.report
Looks to be real, I don't see any reason it would be fake. Anyway, it's too bad it's no longer being updated as of 5 months ago. It would have been nice to continue watching that geometric growth.
  • #40
  • Apr 26, 2017 2:03pm Apr 26, 2017 2:03pm
Quoting TGS
{quote} Looks to be real, I don't see any reason it would be fake. Anyway, it's too bad it's no longer being updated as of 5 months ago. It would have been nice to continue watching that geometric growth.
If it’s real then I can say it’s 1 of the best in FF I have seen.
Self discipline It is a practice
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