How not to make money trading the markets

[Hotch]

Not even using a coin most of the time, there's a flip coin function in the chatzy room we use, but no, anything really.

 

[pips-galor888]

Germans are never wrong !!!

Never being wrong does not make you right either 😆

I'm considering using this approach for my kids Child Trust Fund.

I'm sure it would do better than the 13% loss that the "Professionals" have made over the past year!

 

[Hotch]

Never being wrong does not make you right either 😆

I'm considering using this approach for my kids Child Trust Fund.

I'm sure it would do better than the 13% loss that the "Professionals" have made over the past year!

Don't do it!

 

[Hotch]

Don't know why I put orders on Friday night.

It is bad for the strategy, but more important it causes me a lot of hassle as I gap past the limit orders. Won't be done again.

 

[Hotch]

Well currently account is at £565.07....or £573.27.

IG has the small amount, I guess they're right, I just can't find my error. Will have another look tomorrow. I'm getting far too lazy to put on calls. You can always come get them from chatzy, and if i figure out where the accounting error is I will post up some spread sheets.

For now though, I'm not sure what to do with this, I will continue, but I might change the rules somewhat.

Thoughts anyone?

 

[Hotch]

Yeah, some bad accounting on my part (still seem to have £3 from somewhere which I can't account for).

Anyway, balance is £575.16, and that seems to agree with my excel. Current positions are at roughly B/E

see what happens in the morning.

Hugs!

 

[Hotch]

Apologies

Sorry for not keeping this up to date, am still trading it. Just want to find something with a few more trades, daily is a bit boring.

Anyway, attached is a spreadsheet with all the trades taken.

 

[elitejets]

Well you are clearly mad ... and madly profitable.
Nice experiment

 

[pips-galor888]

Hotch, you still doing this experiment?

 

[kristian8]

go for it ! 🙂

 

[Hotch]

Hotch, you still doing this experiment?

Yeah, still going, just got a few accountancy errors, about 40-50% up, going to sort it out over the weekend.

 

[Hotch]

Right, Currently up £210.58 (approx 42%)

Going to leave it here for now, might of made a huge error in back testing. :O

 

[Technically Fundamental]

wtf is a 5% stop?

 

[Hotch]

A stop at 95% of the price if it's a long and 105% of the price if it's a short.

 

[Technically Fundamental]

whats the basis of using that kind of stop?

 

[Schixm]

i think this is great. but you know, on a more serious note it also kinda validates the effectiveness of diversification. by spreading risk over several instruments (even if entry is based on a coin toss). perhaps if you had traded just one instrument, the odds might have stacked up less in your favour? i think your profit is simply be the result of excellent (albeit unwitting) diversification among the currency pairs. who knows, eh? 😉

 

[Vaco]

out of curiosity do you place the trades at the same time each day?