Blessing 2 - page 141
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Sorry. Wasn't entirely clear. This is a standard account. 0.01, 10 cents per pip. So maybe I am taking too much of a risk.
Two accounts on IBFX... a third one to follow, if uc and ac goes my way.
Sure you are safe trader. 15k account w/ starting lot 0.01 (1cent per pip move). Very conservative. So you have oppened two accounts on one broker or different ones?
Blessing on FXOpen
Dear all,
I have some problems I am trying to solve without success. First is based on Blessing 2 running on FxOpen (micro account), and the second is an understanding about Blessing money management settings (I did not correctly understood the pdf manual since my english is very poor).
1st. FxOpen.
My FXOpen account is a micro one, and the real balance on the account is multiplied by 100. For instance, if I had 300,00 USD, my account shows 30.000,00 USD.
The problem on running Blessing on this account is that I always have an error message since FxOpen does not allow to trade 0.01 lots. The minimum is 0.1.
How can I trade Blessing 2 with 0.1lots instead of 0.01?
2nd. Money management
I have a cents account on FX4You, that allows me to trade 0.01 lots. The blessing runs fine on this account, and want to try running more than one currency pair but i am afraid to blow up the account with incorrect settings for that.
This account has a balance of about 5.000,00 (which in fact represents 50,00 USD). If I want to trade 2 pairs (E/U and U/J), what are the advisable settings for money management and portion?
Than you all
Best regards
Paulo Matos
if you have 5000USD account then you can trade with 4 pairs including the conservative settings. Which I believe it could be 3cents move on 4 pairs.
Sorry. Wasn't entirely clear. This is a standard account. 0.01, 10 cents per pip. So maybe I am taking too much of a risk.
so 5k starting with 10cents. That's the risk what I'm taking right now. How long you been trading with this risk? I started trading from February with the default risks mentioned by Iron, but I had alot of manual hedging going on. From last month I've reduced the risks. But you know I'm up by almost 90% during this 4-5 months. Now I'm taking things slowly
if you have 5000USD account then you can trade with 4 pairs including the conservative settings. Which I believe it could be 3cents move on 4 pairs.
Dear Togu,
5000USD on a cents account will show 500000USD on tradding terminal (5000*100). What are you talking about? Real 5000USD (500000 balance show on tradding terminal) or 50USD (5000 show on tradding terminal?)
Regards
Paulo
Up by 90%. Thats nice
I started with 20k with just usdjpy in April. Since then I have added the remaining 3 pairs. Been changing starting lot size as some pairs like usdcad needs to be traded with lower starting lot size.
I've seen on average of about 10-15% return per month. That might be too high a risk. Hope to reduce risk further by trading Blessing on multiple accounts.
so 5k starting with 10cents. That's the risk what I'm taking right now. How long you been trading with this risk? I started trading from February with the default risks mentioned by Iron, but I had alot of manual hedging going on. From last month I've reduced the risks. But you know I'm up by almost 90% during this 4-5 months. Now I'm taking things slowly
Starting lot set at 0.02 drawdown on just usdcad is less than 10%.
Just a little bit more on how I'm trading Blessing 5.1 with old set files. I have 2 accounts setup currently (intend to setup one more account once some of these long standing trades are closed). Each account with 15k initial deposit and trade the 4 recommended pairs, starting lot size 0.01. Trading for each account starts at different times. I believe this should reduce the risk in case one of the pairs goes against you.
Just like to poll the group... is anyone using Blessing 5.2 with the AutoCal "on" (new set files) live? How would you rate the results?I just went back to v5.1 it seems like I had a problem with the grid TP on the 7th level with caused a lost in my basket. Instead of the TP being 100 pips, it took profit at 50 pips. I don't have time to analyze right now because of family commitments. This weekend I am going to go through all my baskets and see if I find any other problems. My starting lots is 0.02 IBFX nano.
Dear Togu,
5000USD on a cents account will show 500000USD on tradding terminal (5000*100). What are you talking about? Real 5000USD (500000 balance show on tradding terminal) or 50USD (5000 show on tradding terminal?)
Regards
PauloI think you need to do the calculations my friend. What I believe is that your initial balance is 5000USD
if you have 5000USD account then you can trade with 4 pairs including the conservative settings. Which I believe it could be 3cents move on 4 pairs.
So, with this initial balance of 5000 I can use the 4 standard pairs with the standard settings as advised (AUDUSD, EURUSD, USDCAD and USDJPY).
Regards
Paulo
AUD USD is not a recommended pair