Critique my Holy Grail idea - page 13
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Jumped into shorts prematurely, but I did get onto the longside after it broke and added another 3% roughly.
+7.2% for the week.
not the best, but it will have to do..
This is only part on my Holy Grail.
Any time frame, atach. to few pairs.
Test and give me feetback.
Thanks
BongoThanks for posting and following my thread.
I will look into it, but only on demo, since I cannot afford to lose a single USD these days.........
So, apparently you are not using the lot sizing system as described in post #1 - correct? I don't see how trading a one account to cover loses of the other is of any benefit - please explain. If you are increasing the lot size after loss, I think would be helpful if you posted lot sizes you are using after a loss as that is what this thread is about. Since the "Grail" is the lot sizing, how can we "evaluate" if the lot sizes are not detailed out?
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...Life has thrown some curve balls... I only traded small last night since I am not in the best shape to trade (too much emotions lately). Currently dealing with a lawsuit I'm filing against someone who owes me money from prior business................life is sometimes a b***ch!
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last night: made +0.03% or something lame (on that e/u short)...range is tight and volume is historically low in july/august...
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I want to share this website a friend has....this friend trades big 250 lot positions on ES....(I don't know him personally so who knows, could be demo for all we know)
BBC: The City Uncovered with Evan Davis | Trade it, Don't Date it! |
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Eagle to address your questions...
Currently I am not using the prescribed trading plan I started with. Mainly because it's not high enough risk and reward (lol....) and I am not a "big money player" to be risk averse. Eventually when I build up my account(s) I would ideally run 2 accounts with different plans.
On lot sizes: It really doesn't matter what the ($) size is, it matters what (%) of your account each lot is. If I want a steady small profit, I trade about 0.10% of my total account (you read that right, that is one TENTH of a percent). Basically you scoop a lot of small gains every day, day in and day out. Once and a while you hit a losing streak and you might end up putting 1-5% of your acct into the position (for margin).
Pretend you have 100k. That means you are starting out trading about 1 Mini lot (which is worth $10,000)....you are putting up roughly $131 for eur/usd, or basically 0.131% of the total account....if you lose, double it up to 2 mini lots. This is not gambling.
That money management method will probably only make 20-30% a year tops. Assuming your system works, assuming you have a pretty good win rate, you will withstand hundreds, if not thousands of trades (I put in over 600 trades with nothing but a net gain after subtracting all losses). This method, again, is not gambling. I have statements with trades, great winning %% and small steady returns, small drawdowns. But it's just not feasible on a small bankroll.
What I do now, IS a form of gambling. The way I trade now is like jumping inside a race car, rather than using cruise control on the mini-van....and in this race car, I am going full throttle, pedal to the floor often.... (all in, 100% of my acct into a trade)
And if I'm not all in, I'll put 10% in for margin, then double up. It's the most illogical, suicidal, and intense way to trade. When you're risking 10% on a stop loss, there's no chasing the market...you get hit, you're done for the day pretty much. No re-trys, unless a very promising setup is within reach.
What you need to ask yourself is....what % return do I need on my money to make a living off this? If the answer is in the tripple digits, you might as well go save up and come back later
or you take the best shots you can to make those tripple digit returns, but don't be surprised if you blow an account trying to make 500% in a year.
So once I have enough capital to live off 15-30% yearly, that's when it's time to be risk averse.
Holy schnikeeesss, euro just lifted...massive buys in euro futures....
thank youuuu Non-Farms.....
News for this morning:
1am German trade balance
3:30am Sentix Investor Conference
I am taking a wild call, thinking euro will definitely hold these levels.
Although I will not take any trades till London opens.
Probably will be going long....
Sentix beat the forcast....
My bids are in....
Goodluck everyone....
(but I mostly need the luck)
Reviving the dead
Hello everyone. I'm reviving this old thread because...
JaysAccount System | Myfxbook
My trading has been nothing short of excellent! All these years later, I think I've got something.
Prior to this was 5 solid months of good trading, but got broken up due to new jobs and not having the time. Past 9 months of solid good trading was carefully balanced with my jobs, I'm not sure how I could even do that well but I did.
But now I'm possibly starting this full time, with some additional streams of income on the side to lessen the pressure.
No "system" really, but I do use some basic rules and position sizing to make this work.
My goal was to kick this off fulltime in 6-12 months but I got laid off and this might be the perfect time to give it a shot.
The difference now is that I'm better capitalized, but I'll still need a nearly 100% return per year to really convince myself that this can provide me with enough income.