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That was my concern when I ran a backtest. I feared that somewhere along the line there will be atleast one margin call, and one is all you need to wreck havoc.
Pipsweak, I understand you're talking about the straight v1+v2mini. Do you think there may be some merit to mikejody's closing all trades every 5% gain idea?
Actually, my concern is the same no matter what type of variation or where you take profits. Even if were to take your money out after you make 5%, you would still run into problems.
Example:
You start with $10k. You have withdrawn 5% 10 times in a row, so now have $5k in profits. Now the EA blows out and you lose 90% of the account or $9k, so you now have $6k. In order to gain an edge, you need to be able to get at least a 5% increase in equity more than 20 times in a row before blowing the account out. I think it's very unlikley in the long run.
Thanks Drgoodvibe. What in your opinion and testing is "small lots relative to a large account" as it relates to a mini account? In other words, what would be a good balance in a mini-account to avoid any margin calls.
Also, I use 400.1 leverage which would obviously help to withstand any possible margin call as well.
Thank you.
I am using IBFX mini account. Which means that .01 lots is 1 cent, Or $0.01. To trade at this level you would need at least $500.
Now here's the trick to the major money management of this.. at $600 the compounding will increase to 0.02 or $0.02. My Plan is to remove 50% of all equtiy that is gained in the account every two weeks.
So if I made let's say $100 in two weeks, I would remove $50 from the account and just put in a Savings account. This way after a couple of weeks you will have the money you initially invested in this strategy and you will no longer need to be too worried about a margin call becuase you're trading with money you have taken from the market.
note: this is an extremely conservative money management strategy to an extremely aggressive trading strategy. The hedging is great and really pads the account, but the martingaleing like many have said before me will destroy your account. It's not an IF it's a when..
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Yes, this is one of the reasons I opened this new thread, so that we might possibly attract the attention of a programer who can fix these little things. What we need presently are:
1. A fix to the above mentioned problem, that of closing previously opened buy orders.
2. A way for us to adjust risk ourselves, lot sizes, etc.
If anyone can do these things and post a new EA it would be appreciated.
ok , no problem , I deleted mine I personally dont like editing other programmers EAs , every programmer has his own way of coding.
I always prefer to code from scratch , good luck
I personally dont like editing other programmers EAs , every programmer has his own way of coding.
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