College Fund Challenge

[mjj]

Ouch again! Now you are down to just $63.12 profit. Not looking too good.

 

[tkbieber]

Ouch again! Now you are down to just $63.12 profit. Not looking too good.

Yeah, it's a rough past 15 days or so. Now I'll try to get that back in the next 4 trades as that went down on the 1hr chart.

 

[Hotch]

The logic would be that at the end of a month I'm up over 15%, take my profits and run. The open trades could be potential looses which would take away from my profits down the road. And now that would leave new opportunities for new good set-ups. If you notice on the Duration tab that the majority of the trades closed in under four days and most of the remaining close in under eight days leaving just a few good trades closing in 8-16 days.

Example: Lets say the EURUSD made a buy just before the market began to fall. Also, let's say I just reached 18% after 30 days and cut off all trades including the what-would-be looser. Now the EURUSD is only making sells as it is in a nice bearish trend.

By the way, I've seen where even a trade that becomes a loser and loses 5%, while the market is going against the trade, several good trades happen. I've seen up to 10 good trades. Basically while losing 5% it can get 2-3% back.

I was hoping there'd be some logic in regards to the market. I would of accepted "funds do a lot of positioning at the start of the month and I want to be out for that" or something, it'd be flimsy but I'd accept that you may have thought about it.

I mean, why not close them mid week, pre NFP, when there's a report of a virgin birth, you've essentially just added a random element to your "system".

Now you're closing some losers a day after you opened them, and some 20 days afterwards, when there's no difference between them bar one was opened at the start of the month and one was opened at the end.

 

[Hotch]

Tell us about the fund which is using your system.

Just basic things such as: how they came about your system, their progress with it etc.

£50 on Renaissance.

 

[tkbieber]

I was hoping there'd be some logic in regards to the market. I would of accepted "funds do a lot of positioning at the start of the month and I want to be out for that" or something, it'd be flimsy but I'd accept that you may have thought about it.

I mean, why not close them mid week, pre NFP, when there's a report of a virgin birth, you've essentially just added a random element to your "system".

Now you're closing some losers a day after you opened them, and some 20 days afterwards, when there's no difference between them bar one was opened at the start of the month and one was opened at the end.

It's all down to +9% from over 20% now so that is why I may want to close all out at the end of each month if equity is +15% each month.

 

[Masquerade]

Not posting the charts and results like you usually do? What have you been up to lately? What's next, go even bigger. I know that trick, never fails!

You also got rid of the open trades bit, I wonder why..

43 days, 11 pips. That's the way to do it. How much does it cost to hold that trade?

 

[Hotch]

It's all down to +9% from over 20% now so that is why I may want to close all out at the end of each month if equity is +15% each month.

Ok, I think the difference is that I need some "logic" as to why my strategies work, otherwise I'd go:

1-There were really high wind speeds today in the UK.
2-The market went up
3-I'll buy when there are really high wind speeds in the UK.

Correlation != Causation.

Hopefully that explains it, I'll leave it there.

 

[tkbieber]

Ok, I think the difference is that I need some "logic" as to why my strategies work, otherwise I'd go:

1-There were really high wind speeds today in the UK.
2-The market went up
3-I'll buy when there are really high wind speeds in the UK.

Correlation != Causation.

Hopefully that explains it, I'll leave it there.

Yeah, EA's don't have logic just follow rules. A good trader should follow rules, whatever they may be and keep emotion out.

 

[marbig]

Yeah, EA's don't have logic just follow rules. A good trader should follow rules, whatever they may be and keep emotion out.

Quite right.

And do not lose sight of the fact that despite some recent thumping losses, you are still up over 10% over a two and a half month period.

Do not let the overly critical posts here deter you from your trading goal.

 

[Masquerade]

And do not lose sight of the fact that despite some recent thumping losses, you are still up over 10% over a two and a half month period.

How do you know that without seeing his open trades? He could be sitting on $400 of losses currently. He was sitting on $500 loss only a few weeks ago. He just lost 60% of his profit, that should be concerning to anyone. It's not about being overly critical, it's called realistic.

 

[tkbieber]

How do you know that without seeing his open trades? He could be sitting on $400 of losses currently. He was sitting on $500 loss only a few weeks ago. He just lost 60% of his profit, that should be concerning to anyone. It's not about being overly critical, it's called realistic.

Do you not know how to click on this link:



and look at the equity on the upper left of the page?? Look at the balance. Now look at the equity. What do you see?? I see Equity at 100% which means NO OPEN TRADES.

Anytime the equity is LOWER than the balance there is one or more open trades totaling less than the balance. Any time the equity is higher than the balance, their are open trades in the positive.

Let's get educated here guys.

 

[tkbieber]

Quite right.

And do not lose sight of the fact that despite some recent thumping losses, you are still up over 10% over a two and a half month period.

Do not let the overly critical posts here deter you from your trading goal.

Yes and generally I have good winning runs. Let's hope for a good January.

 

[bushmanusa]

YIKES!!! That loss hurt...yes lets hope for a good January with lots of volume and a volitile trending market...that is what your system needs to trade at a profit I believe.

 

[marbig]

How do you know that without seeing his open trades? He could be sitting on $400 of losses currently. He was sitting on $500 loss only a few weeks ago. He just lost 60% of his profit, that should be concerning to anyone. It's not about being overly critical, it's called realistic.

Masquerade, I am a cynical and jaded professional trader who has seen it all and heard it all before. So don't think that I am a soft touch.

BUT his trading method is built on high risk/high return basis. (He has previously tanked his two previous accounts.)

BUT he is slowly but surely morphing his method into something less extreme and much more interesting.

AND even though he has lost 60% of his account, it is still alive and showing 10.98% over a 10 week period.

Admittedly it is a wild ride for his trading, BUT he has shown persistence with his method and it is interesting to watch his trading progress using a purely mechanical system.
I agree with you that he SHOULD show his open trades (I think that he is being dishonest to the max OR maybe he is being unnecessarily paranoid), but I am prepared to cut him a bit of slack for a while as he continues to work to progress his mechanical trading.

 

[Masquerade]

Do you not know how to click on this link:



and look at the equity on the upper left of the page?? Look at the balance. Now look at the equity. What do you see?? I see Equity at 100% which means NO OPEN TRADES.

Funny....because we could see your open trades before and now:

Why the sudden change of mind to lock them back up again?

 

[Vaco]

Funny....because we could see your open trades before and now:



Why the sudden change of mind to lock them back up again?

He locked them when he thought this system was going to make him $$$$$$$$$$$

 

[Hoggums]

I think he's lucky he ended up with a profit at all.

No strategy that holds onto losers until they come good is ever going to work. learn to take losses - and if you can't afford to take them then you shouldn't be trading.

 

[Vaco]

I think he's lucky he ended up with a profit at all.

No strategy that holds onto losers until they come good is ever going to work. learn to take losses - and if you can't afford to take them then you shouldn't be trading.

He doesn't hold on to losers untill they come good, just untill they hit his -215 pip sl.

 

[tkbieber]

Ok, I had a JPY open up last night now that the previous JPY closed in profit.

Look at the equity. It will show + or - from the balance. Not sure what the big fuss is as to why my open trades are private as they are not so private when you see the equity.

 

[Vaco]

Wa just having a quick look at your stats, highest point dec 20th since then 40% drawdown.

My question is have you learned your lesson or are you still addament that trding through xmas/easter hols or other times of low volume is a good idea?