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Such a hard job, but someone's gotta do it
There is a lot of "fresh meat" out in the market, they happen to have a lot of money too.
Well, here's how my night went. First trade was around 3am short eur/usd.
Again I was tired and only lasted until 4am lol. So I covered for a profit and laid down in bed with one eye open, well that didn't last. I was off to snooze land and mr. market tanked 200 some points. I seriously need to hit up my dealer to pick up another 8-ball....Ha, just kidding. But I need to drink more coffee or something..
1am-1pm
Last night there was a total of 1 trade. And it was 100% successful (SMA 50/500). Following Aroon there was 3 trades, 2/3 winners.
daytraderjay...you might want to explore ways of locating trustworthy/decent vampire..who will not abuse an opportunity to suck your blood completely...and who is going to have a will power to stop sucking your blood without killing you...so that you in turn will change into a vampire...that will solve that awful feeling of wanting to sleep at night...
daytraderjay...you might want to explore ways of locating trustworthy/decent vampire..who will not abuse an opportunity to suck your blood completely...and who is going to have a will power to stop sucking your blood without killing you...so that you in turn will change into a vampire...that will solve that awful feeling of wanting to sleep at night...
Haha, no worries...problem solved...all I needed was to fix my fluorescent light to turn a dim office into a daytime feel, and chugging down more caffeine. No more yawning ->!!!!
100% awake and ready to rumble, be back in 8 hours to report how many vampires I staked with my "cross"!
Hi! I'm using the same strategy to martingale/recovery loosing trades in LIVE trading. Just another signals system. I were more succsesfull with hedging 10-20 % monthly, but now it's more complicated 5-10 % monthly. My suggestion: after wrong signal enter the market to the same direction only when you have new signal different from last order 15 or more pips (in loss). I'm using 15 pips grid. This year I allready made 44 % of profit from 18 02 2009. And still looking for setup, which gives more than 75% wining signals. Then I'll be abble to increase starting lot and increase final profit. Now it is only 0.01 lot with IBFX. And never had more than 5 lossing orders in the same time!! (It depends on signals strategy). So continue in that way! Its not a Holly but gives small profit while you are looking for it!!
5-10% a month is damn good. Not amazing, but most hedge funds can't even hit that kind of success right now
Yeah, my strategy varies due to market conditions. But I've seen small losing streaks 6-7 trades and I've also seen winners hit on the first signal.
I would like to increase size too, but the bigger you trade, the bigger your bankroll needs to be, otherwise your risk of ruin is much higher.
Anyone else shorting euros? Seems to be moving slow/indecisive at the moment...traps set!
Edit: Please explain grids as I have never heard of this method. Thanks Levi.
Hedge funds can't - because they have not 200 or even 50 leverage. I trade with 200 leverage. My system generates P/L around 1.6 and there are many winners in a row:
Profit Factor: 1.61 Expected Payoff: 0.07
Absolute Drawdown: 0.00 Maximal Drawdown: 5.96 (1.07%) Relative Drawdown: 1.07% (5.96)
Total Trades: 242 Short Positions (won %): 83 (72.29%) Long Positions (won %): 159 (66.67%)
Profit Trades (% of total): 166 (68.60%) Loss trades (% of total): 76 (31.40%)
Largest profit trade: 4.96 loss trade: -2.94
Average profit trade: 0.25 loss trade: -0.34
Maximum consecutive wins ($): 13 (2.47) consecutive losses ($): 4 (-3.47)
Maximal consecutive profit (count): 6.32 (2) consecutive loss (count): -5.96 (3)
Average consecutive wins: 3 consecutive losses: 1
I meaned grid - nearest point for new entry not closer than 15 pips.
Hi! I'm using the same strategy to martingale/recovery loosing trades in LIVE trading. Just another signals system. I were more succsesfull with hedging 10-20 % monthly, but now it's more complicated 5-10 % monthly. My suggestion: after wrong signal enter the market to the same direction only when you have new signal different from last order 15 or more pips (in loss). I'm using 15 pips grid. This year I allready made 44 % of profit from 18 02 2009. And still looking for setup, which gives more than 75% wining signals. Then I'll be abble to increase starting lot and increase final profit. Now it is only 0.01 lot with IBFX. And never had more than 5 lossing orders in the same time!! (It depends on signals strategy). So continue in that way! Its not a Holly but gives small profit while you are looking for it!!
A grid system sounds dangerous. What do you do if the price falls 500 points away from your grid?
You may say "That will never happen", but really..any big geopolitical event in your Currency Pair's local can cause that.
Just curious..and if I don't properly understand what you mean by 'grid' I apologize.
I have a lot of nerve and pain tolerance. Like today, I was mountain biking, launched off a jump over a log on a steep descent...take a guess...I bailed over the handle bars, covered my face in dirt...gasping because I knocked the air out of myself
Now, most sane people would say, Ok..no more! Not me, brush it off, get to the top and do it again, except the 2nd time was perfect. I have suspension to cushion my landing which helps.
My problem on the first run was when I landed I had my weight too far forward, which caused me to flip forward. So you could say I had a success rate of 50%. Not bad at all, but if I had to clear a pit of spikes, I wouldn't do it! Because I would fall atleast once, and...impail my self quickly
What does that have to do with trading? Well, pain tolerance. There's no trader who wins 100% of all trades, so every trader needs to have some steel nerves. And a good plan if things are not working perfectly.
So far I haven't seen a losing streak that lasted very long, but it could happen. And I will find out but I do seriously doubt it, otherwise I wouldn't attempt.
Did I mention I only trade from 1am to 1pm (london-NYC sesh)? Thats the highest probability for breakouts. 1pm-12pm is usually sideways chop, and I'm generalizing, but it usually is much tighter.
I appreciate your criticisms
Let's see what happens, I can post blotter(s) as I get this rolling.
Well I wish you luck. My lack of faith is simply because I have extensively researched the possibility of using Martingale in FOREX and it doesn't seem viable over time. It's like those people who do it in blackjack and say "I'll never see a 20 run losing streak" and invariably it happens. Forex (aka, the house) always has the advantage over you imo. A wise poster on this forum (forgive me my friend I don't remember your username) once told me (im paraphrasing) that if you can't make money using simple MA crosses and a filter than you should give up the 'Forex game'.
Maybe you will never get 14 bad trades in a row...maybe you will..that I can't tell you. What I can tell you is that when using Martingale the odds are always stacked against you in the long run. Probability demands that you will have winning streaks and losing streaks. The extent of your losing streaks is what matters here. Further, you are using 'a system' and indicators...does that mean you are doing anything other than coin flipping? That depends on who you ask..and I don't know. If you are getting better than 50% hit rates on your trades CONSISTENTLY over time then you might have an edge, but since the Market (in all her craftiness) is DYNAMIC you probably wouldn't be able to maintain that. See..many 'a system' has been profitable at one time only to crash and burn when the markets mood changed.
Just my two cents. I'll keep an eye on the thread and your progress.
And yeah, Wannabe, stay away from Grid systems..unless you have money to waste. It's the same kind of thing as Martingale. It lures you into thinking it's easy money until BOOM the 'impossible' happens. And BTW, the market doesn't need a 911 type event to move 500 points in one direction, lol..but I understand what your getting at.
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Last edited by Cyclesurfer; 09-03-2009 at 02:46 AM.
No more yawning ->
!!!!
Linear Mode
