Blessing 2 - page 77
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Thanks ChicagoRob,
Can you tell me if you think the settings above for blessing are conservative enough or not? They came out to be 17% on the usd/jpy and usd/cad, and 13% on the gbp/usd.
Equity protection reads 50% on each of the pairs with a $900 mini account initial set and all are set up for Stops and limit orders starting at .01 lots.
This is a live account. I tried it on a practice account for a week with positive results. Didn't make mega bucks or anything but my hope is for little bits at a time and stay in the game!
Thanks again!
Thanks ChicagoRob,
Can you tell me if you think the settings above for blessing are conservative enough or not? They came out to be 17% on the usd/jpy and usd/cad, and 13% on the gbp/usd.
Equity protection reads 50% on each of the pairs with a $900 mini account initial set and all are set up for Stops and limit orders starting at .01 lots.
This is a live account. I tried it on a practice account for a week with positive results. Didn't make mega bucks or anything but my hope is for little bits at a time and stay in the game!
Thanks again!If I were trading three pairs, I would run a minimum of
$500/pair, so my starting balance would have to be at
least $1500. This would be with portion control set to 3.
You won't know how your setup will fare, until you
start seeing some large progressions. With a $900
initial balance, I would probably only run two pairs,
with portion at 2. Just my opinion, so don't let me
hold you back. Perhaps, we can get some additional
feeback from others who are trading live.
Rob
If I were trading three pairs, I would run a minimum of
$500/pair, so my starting balance would have to be at
least $1500. This would be with portion control set to 3.
You won't know how your setup will fare, until you
start seeing some large progressions. With a $900
initial balance, I would probably only run two pairs,
with portion at 2. Just my opinion, so don't let me
hold you back. Perhaps, we can get some additional
feeback from others who are trading live.
RobExactly, you are right Rob!!
I don't think 250$ is enough for one pair.
Settings
Hello Rob and All,
Rob, I am using your settings (#735) on an FXDD Demo account USDJPY of 3000, should it be on TF4H or any other? what is the impact?
Looks working well..
Hello Rob and All,
Rob, I am using your settings (#735) on an FXDD Demo account USDJPY of 3000, should it be on TF4H or any other? what is the impact?
Looks working well..Be careful. FXDD mini is not the same as IBFX mini. FXDD minimum pip
value at .01 lots is 10-cents/pip, while IBFX is 1-cent/pip at .01 lots.
Technically, your balance should be at least $5K.
You should be using a daily chart for usdjpy, with the default 100MA.
Rob
Pip value
Just a quick reminder for those just starting to trade Blessing.
Do not concentrate on whether your account is standard, mini,
or micro. Understand what your pip-value is. This is very important.
You need to know this, so you start your account with the correct
balance. Any broker whose smallest pip-value is 10-cents will require
an adjustment in starting balance of 10X, compared to IBFX.
Rob
Settings
Thanks Rob and Alex,
Noted... Happy Easter, will wait until the markets re-open.
Regards
Blessing Amounts
All,
Please be aware of what Rob stated. The minimum amount of money you need to trade Blessing on one pair is $2500 no matter what your account is.
If you happen to have a broker that allows "penny a pip" (IBFX), then you can start with $250.
Standard (1 lot), Mini (.1 lot), or micro (.01) lot definitions have nothing to do with value of your pip. You do have to understand what your pip is worth and every broker in the world uses .01 lots as 10 cents a pip. As such, you need $2500 to trade ONE pair with Blessing.
Penny a Pip is what I trade at IBFX. It allows me more control of the EA. It allows me to trade many pairs and allows me to use portion control to manage my strategy. Yes, it limits my choices of brokers but I am not trading with $10,000 right now. When my account does hit $10,000, I will switch to a "standard" broker that trades down to micro lots (10 cents per .01 lot).
Just to be safe, everyone should close out their live account trades today on IBFX. They are going to 5 decimal data streams over the weekend and I truly can not tell you what Blessing will do with 4 decimal trades out there then 5 decimal trades all of sudden hitting the account. Better safe than sorry!
Happy Trading
v/r
As Rob I use twice reco balance, just to sleep deeper, lol. I set default lots for each pair.
As i run on a standard acct (10cent pip 0.01 lo) i use 5000 usd per pair traded with 0.01 lots and 7500 usd per pair traded with 0.02 lots. (using 0.02 lots is 1.5 time riskier than 0.01 lots, using 0.03 1.5 time riskier than 0.02 and so on). For those who use non usd accounts, remember to convert the reco usd balance to your currency. For exemple 5000 usd is about 3800 euros this days...
My favorites pairs are usd-cad and usd-jpy, the daily tf pairs by the way.
Eur-usd is ok but not so profitable.
Aud-Usd is boring, very slow and very low profit. I don't know if i'll keep this one, if it isn't better in the next weeks i'll probably use my balance for higher lots on usd-cad and usd-jpy, or try to find another safe and profitable pair, maybe eur-chf or eur-gbp...
Did anybody test this pairs :
eur-gbp
eur-chf
if so what settings did you try?
They look interesting for the blessing but i'd like to share my fwdtests with others...
Thanks