I trade this account manually
All trades have an initial stop loss and take profit
There may not be signals for a few days at times
I do not take lots of small trades (scalping) but look for opportunities where potential returns are better than 2:1 risk
(more of a position or target trader).
I try to move the s/l to break even as soon as practical.
I do not use arbitrage, martingale or grid.
At present I am using a fixed lot of .20 which is roughly a 3 to 4% risk per trade.
I rarely have more than 3 trades
open at one time.
MFE and MAE Distribution Point Graphs
Maximum profit (MFE) and maximum loss (MAE) values are recorded for each open order during its lifetime. These parameters additionally characterize each closed order using the values of the maximum unrealized potential and maximum permitted risk. MFE/Profit and MAE/Profit distribution graphs display each order as a point with received profit/loss value plotted along the X-axis, while maximum displayed values of potential profit (MFE) and potential loss (MAE) are plotted along the Y-axis.
Place your cursor over parameters/graph captions to see the best and worst trading series. Find out more about MAE and MFE distributions in the article Mathematics in Trading: How to Estimate Trade Results.
The average slippage based on execution statistics on real accounts of various brokers is specified in pips. It depends on the difference between the provider's quotes from "VantageFX-Live 1" and the subscriber's quotes, as well as on order execution delays. Lower values mean better quality of copying.
|0.00 × 36|
|0.00 × 7|
|0.00 × 9|
|0.00 × 21|
|0.00 × 12|
|0.00 × 30|
|0.00 × 2|
|0.00 × 14|
|0.00 × 15|
|0.00 × 6|
|0.00 × 38|
|0.00 × 5|
|0.00 × 3|
|0.00 × 10|
|0.00 × 3|
|0.00 × 2|
|0.00 × 51|
|0.06 × 36|
|0.11 × 28|
|0.14 × 14|
|0.18 × 11|
|0.19 × 16|
|0.21 × 24|
|0.30 × 355|
|0.32 × 28|
I have been getting a lot of mail wondering why I do not take profits earlier or why I don’t use trailing stops or am I feeling pressure because of the responsibility of having subscribers or what is my trading system.
I know that there will be a lot of criticism and second guessing as potential profits are lost - hindsight is always 20/20!!!
Anyway, I will try to answer the above questions
First – why don’t I take profits earlier?
Very simply I have a target in mind that will be about 2 times or more larger than the stop loss. If I keep clicking out as soon as there is some profit showing it would change the dynamics. The hardest thing is living through pullbacks especially the first pullback.
Second - I have had a lot of pressure to use trailing stops to protect profits.
I have never had satisfactory results using this method.
So against my better judgment I put a trailing stop on the gbpnzd trade. I put a big trailing stop of 60 pips and got stopped out with a $13 profit. Then I had the extreme frustration of watching the trade go on to the target area in excess of $200!!
Third – am I feeling pressure because of the responsibility of having subscribers?
Absolutely I am. This is all new to me and quite scary. All of you have different ideas and trading styles. So I decided to forget about trying to please subscribers requests because I cannot do that. I need to just do my “own thing” - it has worked for me in the past. It is my responsibility to continue trading the same way – it is your responsibility if you decide to subscribe. This will hopefully minimise the stress and enable me to follow the rules
Fourth - what is my trading system
I will be putting more detail in the “description” section soon
Basically I analyse the charts using wave theory on a higher timeframe and look for entries on lower timeframes. I don’t use a lot of indicators – just the macd on standard settings.
If anyone wants more information please mail me and I will give more detail