The Final Holy Grail Journal Discussion Thread

Re: The final Holy Grail!

timsk said:
n_t,
Your point would be valid if the OP offered insight into what he's doing. However, he doesn't. Just posting opening and closing positions is pretty meaningless. Under these circumstances, members would be wise to question the motives of the journalist and to listen to TWI and others who doubt him.

If a month goes by and, for the sake or argument, medbs claims to be successful with a 100% winning record, what do you think the likely outcome of this will be? Obviously, his e-mail and PM inboxes will be stuffed full of people wanting help with their trading. If this isn't the objective of the exercise, then medbs needs to clarify what the purpose of the thread is. One way to do that is to provide full and clear answers to the questions put to him.

Anyone who isn't clear about how the Journals forum should be used, please read this: Essentials Of 'Trading Journals'. Based on the evidence so far, medbs isn't making much attempt to follow the guidelines outlined.
Tim.
Click to expand...

I absolutely agree, to say nothing of how useful anyway is a strategy that uses no stops, so therefore cannot measure R:R on trade entry other than using the actual drawdown experienced in the trade such as the 2 examples this morning before (if) they move into profit...but say they don't....when does one close the losing position (s?) As for averaging in a losing trade, well let's not go there...
 
Re: The final Holy Grail!

timsk said:
n_t,
Your point would be valid if the OP offered insight into what he's doing. However, he doesn't. Just posting opening and closing positions is pretty meaningless. Under these circumstances, members would be wise to question the motives of the journalist and to listen to TWI and others who doubt him.

If a month goes by and, for the sake or argument, medbs claims to be successful with a 100% winning record, what do you think the likely outcome of this will be? Obviously, his e-mail and PM inboxes will be stuffed full of people wanting help with their trading. If this isn't the objective of the exercise, then medbs needs to clarify what the purpose of the thread is. One way to do that is to provide full and clear answers to the questions put to him.

Anyone who isn't clear about how the Journals forum should be used, please read this: Essentials Of 'Trading Journals'. Based on the evidence so far, medbs isn't making much attempt to follow the guidelines outlined.
Tim.
Click to expand...

Tim, I offer no disrespect to you here nor am I defending the OP's strategy but this is what your "Essentials of a Trading Journal" says
-------
Journals work at different levels. At their most basic, they are no more than a record or log of trades taken, listing the day and time of the trade, entry and exit prices, long or short, size (i.e. number of shares or contracts etc.), stops and targets, number of points made / lost, commissions and net P&L.
-------
I see no mention at all about requiring the OP to answer questions or even give any explanation whatsoever. the OP has stated no hard stops losses and does post exits. IMO your statement that the OP isn't making much attempt to follow the rules is a bit off the mark. If I am wrong I'm sure you will correct me.

Peter
 
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Re: The final Holy Grail!

pboyles said:
What happened your first GBPUSD trade from this morning, did you take a loss on it or is it still open?
Click to expand...

At the time of my writing, cable is 1.5301, so his original position would be in profit (not much, but still..), and to my eye & judgement, there is plenty of downside left in cable, even in the relative short term (and a hell of a lot more in the long term).

Or do you insist that people "take their losses" straight away? I know that some people impose time limits on their trades, but it's not the only way to trade. And neither is tight stops the only way to trade.

Someone earlier was talking about having the mental fortitude to sit out the drawdowns.
What's the difference between that and "refusing to take a loss" on a trade that ultimately you are pretty sure is going to come back into profit? Seen it and done it loads of times.


Of course the talk of a "Holy Grail" is crap, and if he turns out to be trying to sell something, then a curse on him and his spawn,but I'm getting the feel of a bit of closed-mindedness here. Certainly not for newbies, but there are ways of making wide and even no-stops work. I can think of one what you might call "senior trader" here (and it's not Spanish) who claims not to use them; that may be a special case.

If you've come across Xaron on Forex Factory, he has a way of trading which I think is essentially no stops, and he has documented his results on a public blog. I'm not advocating trading like him (because I don't ultimately advocate trading like anyone - you have to evolve your own style), but it's interesting sometimes to see people make things work that might not seem to make sense initially.

While I've been typing, I've seen cable go down to about 1.5290 and back, so he could have taken (I think) 40 pips profit. I had 4 short positions (different entries) on which I could have taken profit, but I'm waiting for the profit to be higher. (Two others closed at their TP limits, thank you).
If it heads up again, fine; I'll either just wait, or I might add to my shorts - Oh no, adding to a losing position? Unthinkable. Adding to my potential profits? Thinkable.
 
Re: The final Holy Grail!

montmorencyt2w said:
At the time of my writing, cable is 1.5301, so his original position would be in profit (not much, but still..), and to my eye & judgement, there is plenty of downside left in cable, even in the relative short term (and a hell of a lot more in the long term).

Or do you insist that people "take their losses" straight away? I know that some people impose time limits on their trades, but it's not the only way to trade. And neither is tight stops the only way to trade.

Someone earlier was talking about having the mental fortitude to sit out the drawdowns.
What's the difference between that and "refusing to take a loss" on a trade that ultimately you are pretty sure is going to come back into profit? Seen it and done it loads of times.


Of course the talk of a "Holy Grail" is crap, and if he turns out to be trying to sell something, then a curse on him and his spawn,but I'm getting the feel of a bit of closed-mindedness here. Certainly not for newbies, but there are ways of making wide and even no-stops work. I can think of one what you might call "senior trader" here (and it's not Spanish) who claims not to use them; that may be a special case.

If you've come across Xaron on Forex Factory, he has a way of trading which I think is essentially no stops, and he has documented his results on a public blog. I'm not advocating trading like him (because I don't ultimately advocate trading like anyone - you have to evolve your own style), but it's interesting sometimes to see people make things work that might not seem to make sense initially.

While I've been typing, I've seen cable go down to about 1.5290 and back, so he could have taken (I think) 40 pips profit. I had 4 short positions (different entries) on which I could have taken profit, but I'm waiting for the profit to be higher. (Two others closed at their TP limits, thank you).
If it heads up again, fine; I'll either just wait, or I might add to my shorts - Oh no, adding to a losing position? Unthinkable. Adding to my potential profits? Thinkable.
Click to expand...

I think you'll find it was a simple question about whether he got out or not. When this is 100% successful after a month you can criticise us for being 'close minded'.
 
Re: The final Holy Grail!

wackypete2 said:
Tim, I offer no disrespect to you here nor am I defending the OP's strategy but this is what your "Essentials of a Trading Journal" says
-------
Journals work at different levels. At their most basic, they are no more than a record or log of trades taken, listing the day and time of the trade, entry and exit prices, long or short, size (i.e. number of shares or contracts etc.), stops and targets, number of points made / lost, commissions and net P&L.
-------
I see no mention at all about requiring the OP to answer questions or even give any explanation whatsoever. the OP has stated no hard stops losses and does post exits. IMO your statement that the OP isn't making much attempt to follow the rules is a bit off the mark. If I am wrong I'm sure you will correct me.

Peter
Click to expand...
Hi Peter,
You're not being disrespectful at all!
;)
Besides, my posts should be viewed no differently to anyone else's; all pigs are equal etc.!

Also, you're quite correct, there's no requirement - and certainly no rules as such - for journalists to do any of the things mentioned in the Sticky. It's intended purely as a guideline so that prospective journalists can get the most from their journal, along with the members subscribed to it. As stated in the first sentence of the piece you've quoted, just posting entries and exits is the most basic requirement. Assuming you've read the whole Sticky, it goes on to expand in some detail about the sorts of things journalists would do well to consider in order to make a public online journal worthwhile. Compare, for example, medbs's journal with this one: My Journal at a Prop house. The latter is a 'proper' journal (by the definition of the Sticky) and is interesting, informative and insightful for all concerned. Perhaps I'm in the minority here but, IMO, the latter enriches site content while this one (so far, at least) does not.

The info' medbs has provided to date would, for the most part, be included in his brokerage statements. So, this begs the question as to why he's started the journal in the first place? It may be just to show off and get his ego massaged. Nothing wrong in that if that's the case. However, as the Forum Guide for this forum, if I smell a rat, it's part of my role to flag it up. I'm very happy to keep an open mind and I hope that I'm wrong in my suspicions. Of course, medbs could easily prove me (and others) wrong by addressing the various points raised and explaining his motives. Perhaps you and others are satisfied with his excuse that he doesn't have the time to do this. I'm afraid I'm not. However, in the event that he finds a few minutes in his dizzyingly hectic schedule to answer the questions in full, then gladly I shall give him and his journal my full support and apologise for the perceived negativity.
Tim.
 
Re: The final Holy Grail!

timsk said:
Compare, for example, medbs's journal with this one: My Journal at a Prop house. The latter is a 'proper' journal (by the definition of the Sticky) and is interesting, informative and insightful for all concerned. Perhaps I'm in the minority here but, IMO, the latter enriches site content while this one (so far, at least) does not.
Click to expand...

Agreed, absolutely.

As you state, and by definition of your position, your interest in the content of posts differs slightly from most of us with the exception that we all hate rats. However up to this point the OP has posted some decent gains and has at the very least, piqued my interest. If it all changes or the rat surfaces then of course all bets are off!

Peter
 
Re: The final Holy Grail!

Medbs forget the haters, it’s all good, that you are showing your trades before you take them and it makes them jealous or even envious,
What I want to know is, are you going to actually show us your system and what you are doing and how you are trading, after the 5th May?
 
Re: The final Holy Grail!

thanks medbs, for providing some brain exercise!

Your system seems to be dependent on simply adding to losers, until they come good.

just glancing at the trades, you seem to grab some pips in shortest time, which is good.
but, if it doesnt go your way, you keep them.
so, the pattern of trades is quick wins, but then some trades last for days.
eg,
EURAUD, first short was a winner, lasted about 90mins. (Apr-22, 9am-10:30am approx)
then you went long EURAUD. went against you. (Apr-22, 10:40)
then you added to this loser, at 14:50.
eventually, you closed out at aggregate win Apr-23, 8:30 and 11am.

these trades went underwater for many multiples of the eventual winning pip value.

equally, the USDJPY short you took, you held onto for about 4 days, meantime you added again to the loss.

if the MAE (maximum-adverse-excursion) exceeds the eventual win, you're essentially trading against the tide, ie, in the hole, and hoping it comes your way, (managing a loss) rather than riding out a winner with the wind at your back, (managing profit) as it were.

thats just my initial analysis. it may well suit you. and you're happy. this is not a criticism, but generally, most here would probably not trade your way.

have a great weekend.
 
Re: The final Holy Grail!

He seems to have made people sit up as this thread is now No.1 by a mile in the the week's hottest thread list.

Good on ya matey.
 
Re: The final Holy Grail!

Good analysis trendie.

medbs is not trading, he is mimicking long-term-buy-and-hold, with a self-imposed limit on profits.

The first man to walk a tightrope across a gorge without a safety net will be a hero when he reaches the other side. But he's a fool to try it day after day.
 
Re: The final Holy Grail!

tomorton said:
Good analysis trendie.

medbs is not trading, he is mimicking long-term-buy-and-hold, with a self-imposed limit on profits.

The first man to walk a tightrope across a gorge without a safety net will be a hero when he reaches the other side. But he's a fool to try it day after day.
Click to expand...

Yep, agreed. I wish him all the millions, no problem, but it just takes a couple of Greeks, Spanish or other eurozone disasters , and it is going to be byebye....i have seen a couple of these average downers fail in the past, one even after having build up an account from 10K € to 133K €.....it is not if, but a matter of when is it going to happen.

TR
 
Re: The final Holy Grail!

new_trader said:
(n)

This is a trading journal and should be respected as such. It is normal for people to post their trades in this section. Maybe you prefer that people just bluster? Plenty of them around, occupy your time in those threads rather than trying to form a lynch mob here.:rolleyes:

N.B: Always trade with a STOP!
Click to expand...

Sorry, I have not been onto this forum in a long time and so just popped in and decided to reply when I saw the same old b/s still being posted. Fine, if this is a journal then i will let other people waste their time over it. Not quite sure what the point of it all is but anyway. cya.
 
Re: The final Holy Grail!

medbs said:
It all started when I tried to find a strategy that makes positive results every month, thereafter, I developed it for weeks with a positive result until I created a 100% winning strategy.
I know, nobody will believe me here, so do I, in the beginning; after months and months of trial on demo accounts and real accounts, i finished by believing in this strategy.
The only reason that prompted me to open this thread is to show everyone that Holy Grail does exist and all that you have to do is to open your mind.

So please: No criticizes before the end of the month of May.
Let the results talk for me.
Click to expand...

medbs, no doubt you have seen that the green eyed monster has raised its ugly head again and caused people to behave irrationally. I thought your kind request was simple and easy to understand but the undesirables, as always, find it impossible to control themselves :rolleyes:

I suggest you start a new journal. When creating the new journal you will see an option down the bottom called 'Thread Privacy' and I suggest you choose the option that only allows people on your contact list to post replies. The mods will close this thread and provide a link to your new one...do it...please :cheesy:
 
Re: The final Holy Grail!

meanreversion said:
i lose money
my trousers are loose

i lose track of time
i have some loose change


yet another numty who can't spell "lose", oh dear ..
Click to expand...

pfffffffffffff, english is not my mother language
if i asked you to write in chinese, you'll not be capable to spell one single word correctly
 
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