Thanks for information Billbiss and Qman, I guess I will manually trade it for now until hopefully an EA gets sorted.
Thanks
Wonder
Thanks
Wonder
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DislikedHi Guys,
I have been reading this thread, and it sounds very interesting. So yesterday, I gave it a shot with a live account (that's micro-account...I'm not that insane). Well, first shot was bad...LOL but that's life right (good thing it was micro)?
So here are some questions:
what is the time frame that we trade? I know that we have 2 tries at 50 pips (or more...pending on your discresion) Stop Loss.
And our time frame is from 16 GMT to 1 GMT? I just need to double check.
At what point is the spread becomes to wide and we want to use a smaller lot size???
Thanks and I look forward to hear from you. And thanks Nicotina for sharing this info.Ignored
DislikedI have a suggestion on MM for the followers of this method.
May be this is not new.
Let us say 1 lot is the safest.
You keep trading 1 lot until you make net 8 wins.
Then you trade 2 lots until you either loose twice in a row or netted 4 wins
if you loose twice in a row you go back to 1 lot until 4 net wins from that point and then come back to 2 lots
If you netted 4 wins with 2 lots you move on to 4 lots size and the logic repeats.
It's like risking what is earned only and accelerate the growth.
Does it make sense or am I missing something very basic here.
Good luck and invite comments
TradeStarIgnored
DislikedHi,
Thanks you for your response. You can send me an email to:
[email protected] (I live in Malaga-spain).
What is FF limitation?
phabIgnored
DislikedPhab, I just sent you the Tradestation code of this strategy.
I cannot send private email to FF members because I have posted less then 15 messages.Ignored
DislikedGonna chime in because I feel the need.
First, great job Nicotina. Thanks for your generosity.
To me, this system is a classic example of "fooled by randomness." We are seeing a great 11 months, but has everybody completely ignored the 2002-2006 backtest? You'd be losing pips very quickly in the 2004 - 2005 range, even without removing spreads.
I want to know how you guys are going to react when this hot streak ends.Ignored
DislikedTradeStar,
the risk-limiting part of your proposal really makes sense, however, the assumption that is the underlying justification for your method doesn't hold.
Increasing lots this way means that you're assuming that results of past trades somehow influence the outcome of future trades.
However, they don't and don't we all know this?
All we have is this current open trade that needs to be managed. Prior trades are past, future trades aren't there yet; the only trade that tells us something about performance potential is the current open trade.
A better way would be to add to a position that already has run into the right direction, but only so after a stop loss was at least trailed to the break-even level. This way you don't expose your account to additional risks (assuming your additional position is also properly protected by a stop) whilst still increasing your effective leverage...
There's another reason why increasing your initial position like you propose is counter productive: if you happen to use a fixed % risk per trade, increasing lot sizes would mean that you'd have to reduce the stop distance in order to remain within the same risk profile. Very quickly, these narrower stop distances will kick you out of the market, whereas a single position would have allowed you to stay in...
just my 0.02 €
take care
OhkaIgnored
DislikedI have spent the last few months learning how to program in MQL and have developed several EAs of my own trading methods. While they have been slightly profitable I decided to try to program this method. I can't believe how incredibly successful it is!
For anyone trying to program this method the initial entries are very easy. The hard part was the second try when a stop is reached. The key to solving this is to use the OrderCloseTime() and OrderClosePrice() functions.
Anyone willing to spend some a few weeks learning this language could program this EA in a few hours.Ignored