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Yes, that is how I understood it to work. I'm also familiar with FPI thanks to Michael Kreslik.
I therefore take it that you are long both EURUSD and GBPUSD in your example - though I do not really understand how you profit trading two correlated pairs like this, apart from increasing your position in one or both on pullbacks and lightening up on rallies. But what happens if they keep heading south?...
Time to read up on more of what you are doing here methinks...
Yes, please read. I was discussing this particular setup in July-ish in this thread.
Long/long in EURUSD/GBPUSD is simply doubling the risk or reward. Obviously, if they both head south, you lose money. There is a large group of carry traders who learned all about that this summer...
EURUSD/GBPUSD have a historically high positive correlation and should be traded in opposite directions - and it is not as simple as just "jumping in" whenever one is in the mood.
I made a few posts in Michael Kreslik's FPI thread last winter when I wrote a robot to test that concept.
Thanks Bill B. for letting me post so much in your thread. Perhaps I should start my own thread if you wish. This way your thread will not be side-tracked...what do you think? You would be welcome to post a link to it here or anywhere else if you feel it necessary.
ES
This is not side tracking my thread. After almost two years of teaching/learning I have come to realize that most people who try to trade the Forex market do not have the temperament, time, or training to be successful on their own. I have taught hundreds of people to use these tools and relatively few stuck with it.
I offer free demos because I want to make money through success, not at the expense of others. Therefore, I am looking for ways to help more people become successful. For most, that means either tag-team trading with a professional (I discussed that in a post last month), or letting a professional trade their accounts.
I trade the Forex market. I have the temperment, time and training. I find that for me personally, I can spread out more, when I can delegate responsibility. When you made me aware of Bill Y. I jumped on the opportunity to get in with only 5K and to move on to seek out the diverse methods in Forex and other markets.
I started my own thread, but Forextsd did not approve it for this commercial Forum. Why?... I do not know, I guess it is because I am not selling anything. So I really do not know what to do. I have just a few PM's, encouraging me to share...not many really...
ES
Quote:
Originally Posted by Muddyguy
This is not side tracking my thread. After almost two years of teaching/learning I have come to realize that most people who try to trade the Forex market do not have the temperament, time, or training to be successful on their own. I have taught hundreds of people to use these tools and relatively few stuck with it.
I offer free demos because I want to make money through success, not at the expense of others. Therefore, I am looking for ways to help more people become successful. For most, that means either tag-team trading with a professional (I discussed that in a post last month), or letting a professional trade their accounts.
Take care,
Bill
Last edited by ElectricSavant; 09-19-2007 at 12:37 AM.
Well..I just can't stand it....today was a good day for trading in many of my systems...(some of them are dogs too!) here are the results of the GoFXpro AutoFX DCL managed account for me today..Yes! this is real live money (at this rate I will send 5k more to Bill Y next month) and up 602 bucks in under 2 months:
Report Date 9/18/2007
Account PF-X
Customer Name Michael
Introduced by Bill Young/GoFX IB Account #X
Liquidation Value In Terms Of US Dollars
Previous Balance 10,512.72
Unconverted Currency Difference. 0.00
Realized P&L 89.57
Payment 0.00
Journal 0.00
Commission 0.00
Long Option Premium 0.00
Short Option Premium 0.00
Net Option Premium 0.00
Conversion 0.00
Ending Balance 10,602.29
Unrealized PL -6.43
Collateral 0.00
Market Value Of Long Options 0.00
Market Value Of Short Options 0.00
Net Market Value Of Options 0.00
Liquidation Value 10,595.86
Rollover P&L -0.86
Deposit Requirements -243.75
Account Excess / Deficit 10,352.11
Withdrawable Fund N/A Managed Account
Last edited by ElectricSavant; 09-19-2007 at 05:23 AM.
I have not thought about it...more than Drawdown...ask me if I can maintain my 15% DD criteria and my answer would be yes. As long as my max DD holds I am in the game. I would be thrilled with 25% yield or more...
ES
Quote:
Originally Posted by mjramos76
So with your returns thus far, do you think it's possible for 100% ROI in 1 year?
You posted before about your $5M in 5 years goal. For that to happen, of course depending on how much you put into this, what yearly return do you target?
Following this with interest and hope to be sending my own docs this week.
p.s. 15% DD means comparing day to day or month to month? And if DD breaches that 15% limit, will you pull out?
Quote:
Originally Posted by ElectricSavant
I have not thought about it...more than Drawdown...ask me if I can maintain my 15% DD criteria and my answer would be yes. As long as my max DD holds I am in the game. I would be thrilled with 25% yield or more...
I have not targeted a yearly return. I work a full-time Job so over the next 8 or 9 years I can add a considerable amount of capital. If we get behind, Wifey wants to take on a part time Job to help.
I have not visualized what I will do, but I have pulled out of methods as soon as a breach of 15% occurs and I saved money by adhering to my rules, where I waited at others times just to lose more.
I like to think of DD and it's calculations to always calculate from the highest equity balance high.
I simply do not think in terms of yield...drawdown is what I like to concentrate on and I find methods that can hold my criteria to be able to yield enough.
ES
Quote:
Originally Posted by mickD
You posted before about your $5M in 5 years goal. For that to happen, of course depending on how much you put into this, what yearly return do you target?
Following this with interest and hope to be sending my own docs this week.
p.s. 15% DD means comparing day to day or month to month? And if DD breaches that 15% limit, will you pull out?
Last edited by ElectricSavant; 09-29-2007 at 04:28 AM.
This is my first week with Gofxpro. My account started trading on Sunday night and so far each day this week, the account has taken a small loss. It is currently down 1%.
I will update and check it again on Saturday once the week has ended and see what the performance is.
I am still using the EA on a demo account and now can see the danger with some of the theory as I understand it. Hopefully Muddyguy can help me to apply a different style here.
What I find is that the trend on the EURUSD is strong and the eurusd is rising. But to earn positive swap I have the C4 setup to sell eurusd and buy gbpusd - which has also been going up.
On another C4 pair I am selling gbpusd and buying usdchf.
Therefore, any benefit of the hedge from the eurusd is offset because I am both buying and selling gbpusd at the same time
Given now I have entered a sell in a strongly postive trending market, I am down about 400 pips. To further make it worse all new orders are identical and only continue to add more DD to the account.
I think there needs to be some logic put in to trade only with the trend or to switch setfile based on trend or non trending markets. How do you advise running the EA in the market we have seen this week?
Linear Mode
