Angat » Wed Feb 04, 2015 1:52 pm wrote:
Having the best demo so far, can you go one step further and provide your setfile and current trading pairs please? When you said previously you are scaling out of some positions are you using Steve's "PartCloseEnabled"?
I understand from a previous post your do a lot of "maintenance/personalisation", it may help me and others If you would expand a little bit more on that? Perhaps Steve can create a filter or two for perhaps what your doing manually?
Also your winrate is 74% but I do think that this is a lot higher, most of your losses were at the beginning of your demo when I'm sure you were tweaking/filtering pairs. I wouldn't be surprised if your current winrate is over 80-85%.
As Pipcruiser said in his first post, lets fine tune this baby!!
Many thanks for your help
I am willing to help where I can but perhaps if I explain what I do in more detail you will realise that the manual intervention isn't something that can be automated. I attached my set file in the first couple of pages of this thread I think but I will attach again. I
think the only thing that has changed is that I started trading fixed lots - 0.02 lots per £1000 balance and updated it every now and then. I changed that a couple of weeks ago to a percentage risk, something approximating the same risk as I was using, but I may have tweaked it too high actually.
I don't use any automated tools/EAs etc beyond the Pipmasher EA itself. I move stops manually. I take partial profits manually. I kill pending trades that I don't like. I close trades that I don't like the look of.
Example:
Last week (and this?) there have been UJ pending trades - long last week, short this if I remember correctly. I deleted them. Why? This is why:
UJpc.JPG
Until price breaks out of (and preferably retests) that wedge I will carry on deleting any UJ pendings.
Often you will see pairs that are ranging over a reasonable period that causes pending orders to be set at the top or bottom of ranges. These I will just delete.
If I don't like the look of something, even if I am not 100% sure why, I will just delete the pending. Better to miss out of a good trade than take lots of bad ones.
I closed all the newly opened AUDx trades yesterday during the day (GMT). The reason being that AUD is a commodity currency. Oil was seeing a big bounce back after the recent huge fall and, that combined with the big spike on AUD currencies that triggered the trades in the first place due to the RBA cutting their interest rate, I expected AUD to appreciate. I actually took too long thinking about it but still managed to get out a bit ahead. I left the trades that already existed and were significantly in the green and protected as I expect longer term AUD to head back down again. As it happens I just have an AUDJPY short now and that's it.
I look for areas of supply and demand and if I have trades approaching those areas then I will either take some profit or protect the trade by setting the stop to BE. I don't use any indicator for this as I don't think they identify the areas I am interested in.
I move my stops below areas that offer some protection. I won't try to explain that as it isn't easy to do so but basically S/D, swings etc. I want the trades to have a lot of breathing room but I am not going to watch a trade go from +150 pips to become a -150 pip loser.
I will sometimes kill losing trades before they they reach the set SL if I think the conditions for the trade have changed. Or if there is nothing in the way to prevent them from hitting their stop.
For me Pipmasher allows really good entries, without too much emotion involved and all I have to do is a bit of trade management.
I hope that gives some insight even if it probably isn't what you wanted to hear. I have no hard and fast rules that I can offer - just guidelines.
Pairs traded now - all the usual suspects, nothing exotic, but no NZD pairs, no GBPCAD, no AUDCAD, no EURCHF.
Cheers,
Dave.
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