10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Convention

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Even if there was 10k in this account...it would still be called 10p gold.

The money is irrelevant...the methodology is not.
It breaks every rule in the book go figure!

 

[Paul71]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Even if there was 10k in this account...it would still be called 10p gold.

The money is irrelevant...the methodology is not.
It breaks every rule in the book go figure!

Which book are you on about?

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Which book are you on about?

Probably all of them ...I stopped reading them after the fifth.

 

[Paul71]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Probably all of them ...I stopped reading them after the fifth.

Five books, ten years later, and you start a 'mean reverting journal' with 100 quid? C_V, please, don't do this to me.

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Series 1
Trade Tally
Wins..15
Losses.0
Open.. 0

Starting balance on account... £110.57
Gains so far..................... £120.21
Balance on closed trades...... £230.78

Series 2 is underway

Trade 1---- 0.1long @ $1115.20 Target 60 points Limit@ $1121.20

 

[piker]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

If I understood correctly you don't have stops, your account balance is your stop? If that is so, then I hope you realise that no matter what the win rate is eventually you may only blow out. It is unavoidable IMO. Maybe I misunderstood your strategy.

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

If I understood correctly you don't have stops, your account balance is your stop? If that is so, then I hope you realise that no matter what the win rate is eventually you may only blow out. It is unavoidable IMO. Maybe I misunderstood your strategy.

I decided that the system would stand three open positions in drawdown so you are correct that stops are not seen as an issue at these levels.

 

[arabianights]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

I think the account is ready for £2pp now

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Trade 2 triggered long @ $1109.20 Target 80 points Limit @ $1117.20

 

[Black Swan]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

I think the account is ready for £2pp now

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Trade 3 triggered long @ $1097.20 Target 140 points Limit @ $1111.20

Nothing like starting the week off with a bang :clap:

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Nothing has changed...strat is in 3 position drawdown...was nearly at 4th position entry but didn't get there.
May just leave it to do as it will do over chrimbo.
Ideally didn't want a 4th position entry this early into the test...but what will be will be...so if it triggers then live with it.

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

How it looks today. All 3 positions remain open. 2 are in smallish drawdown 1 is in profit.

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Position 3 closed +140 x10p £14.00

 

[trade321]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Hey cv, wd so far! strat is fine by what im seeing as long as add points are set and known before hand. problems are to small account (all though i see what you are trying to do) and there imvho has to be a maxium draw down of a percentage of account, i agree that even with a 5k account you would still only want to be trading in 10p's.

the amounts of money you are making is irrelevent, its the percenatge gains over time (years) that are important!

large account and v small stakes in realtion to account are key, i'd rather be making 1% on 500k than 20% on 5k or whatever you get my drift.

key is when we enter a trade all is known before hand and we know account is ok for it.

nuff said!

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Thanks trade321 and I agree with your sentiments.

Update.
Position 3 has been re-entered @$1097.20 long Target 140 points the same @ $1111.20

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Update

Re-entered 3rd position now closed @ limit for +140 points...£14.00
2 positions remain open long targetting $1117.20 and $1121.20

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

2nd position limit hit. position closed @ 1118.20 slippage of +10 for 90 points gain £9.00

Account Balance £264.44 With 1 position open.

Series 2
Trade Tally
Wins.....3
Losses...0
Open.....1

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Well a right ol busy day...position 1 now closed limit was $1121.20. slippage of +9 for 69 points £6.90

Strat is now flat.

 

[temporarilylight]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

you and spanish89 should join forces! Same methods. You on gold, him on oil, together you'd nearly rule the world!