Critique my Holy Grail idea - page 12
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
+3.1% so far for the week.
Martingale On Valium
I know the Martingale thing has been hashed to death. But if you must... I once had a mentor that long since made his millions trading and quit trading. So he played a lot of blackjack. When he played blackjack, he did quite well using a modified Martingale system. He never did it trading though.
ie. 2,2,3,4,8 ,etc
Something to toy with (if you must Martingale).
It's way less aggressive, and designed to mitigate losses during bad times.
LazyMan
What was your lot size when you had the huge drawdown and how many consecutive losses before that?
An okay week. +1.3% and rising up slowly. Took a sweet long on gbp/jpy a couple days ago. Violated trade plan by cutting it short (in small profit). I left 50-100 pips on the table, although my target was 136 I knew I was getting greedy.
What was your lot size when you had the huge drawdown and how many consecutive losses before that?
I don't remember my lot size. I'm not sure which event you're referring to?? I've been knocked back a few times, and remarkably I have recovered to levels which are somewhat acceptable.
All I do now is go all in (not all the time but often). It's a lot more gut wrenching approach to throw it all on the line. And much higher risk/reward.
My old method could safely make me 5% every 3 months, but I needed a bigger return to cover expenses. Any profit I make comes right out.
However I was thinking about starting a PAMM account for my low risk stuff, to see who's interested in making a small % on their money?
If I ever do, I'll post a link for anyone curious.
The trade I took last night...
I was short before it started to rise, then bailed out at -20 pips. Ended up making about 50 pips (so 30 pips profit).
An okay night/day of trading. Could have definitely made more.
mid week gain
I'm up over 5% so far for this week...
Although that's not that good. I completely missed the ISM short at NYC open. All I did was short London and cover quickly.
I did have a signal to short at NYC 8.30 CDT, but I had to shower, and I figured it could go sideways....very bad assumption ;\
a human needs sleep too....
Good luck guys....hope nobody is still holding longs lol
I'll have to read the news later lol.
There are charts in post #'s 95 - 97, if I'm looking at them correctly, it appeared the huge dip in each one almost wiped out your account. Since the crux of the method you mention in post #1 is to increase the lot size after each losing trade, it would be interesting to see what lot sizes for each trade you used leading up to the the huge drawdowns. Also, if those huge drawdowns actually almost wiped out your account, wouldn't your account have been automatically been frozen due to a margin call?
I don't remember my lot size. I'm not sure which event you're referring to?? I've been knocked back a few times, and remarkably I have recovered to levels which are somewhat acceptable.
All I do now is go all in (not all the time but often). It's a lot more gut wrenching approach to throw it all on the line. And much higher risk/reward.
My old method could safely make me 5% every 3 months, but I needed a bigger return to cover expenses. Any profit I make comes right out.
However I was thinking about starting a PAMM account for my low risk stuff, to see who's interested in making a small % on their money?
If I ever do, I'll post a link for anyone curious.This is only part on my Holy Grail.
Any time frame, atach. to few pairs.
Test and give me feetback.
Thanks
Bongo
There are charts in post #'s 95 - 97, if I'm looking at them correctly, it appeared the huge dip in each one almost wiped out your account. Since the crux of the method you mention in post #1 is to increase the lot size after each losing trade, it would be interesting to see what lot sizes for each trade you used leading up to the the huge drawdowns. Also, if those huge drawdowns actually almost wiped out your account, wouldn't your account have been automatically been frozen due to a margin call?
Hahahaha ok let me explain. You are a little confused, which is my fault...
The "huge dip" on the equity curve, has no numbers on it. I had lost about 5-8% on that dip of total account, which was all profit, until the last trade bailed me out clean and clear...so no margin call, not even CLOSE! I didn't even dip into the principal amount of money deposited!!! So yeah that is a very safe method I was using. I would bet my life savings on it (not that I have much anyways
)
BUT, what I haven't documented was what I did----not using martingale....I did have a huge drawdown, not due to martingale. I was down 90% in my smaller account, so I used my other account to bail that loss out by going bigger size
that's not even related to that equity curve at all. The added gains I just redistributed into the smaller account and wah-lah!!!
Good night of trading guys...
have a chart to post...