I would agree with you on one point, money management is the most important trading tool of all. But the way I see it, for trade entries, we can do better than coin flips. Actually thats how I do it, I implement money management with price action based trade entries. As easy as it sounds, it works!
To be honest now after all these years of restless attempt for finding a holly grail system, now it makes sense. Trading is easy .. pick a very good price pattern (thats the edge) now spray some MM on it (Thats our "falling the edge" protection). Its so easy its hard !!
Take my love, take my land, Take me where I cannot stand I don't care, I'm still free, You can't take the sky from me
"Its so easy its hard !!" HAHAHA!!! That is so true Alpenkorps ........
I open this thread like I mentioned just "for the fun of it" so we can all brainstorm and play around, even if I don't really have the time cause apart from trading I run another business (that is the reason I do not post often)......but it looks like people also do not have the time in joking around with funny methods......so I am just going to post every week the results, modifications and improvements IF the account manages to survive .......like I said ....just for the fun of it.....
The hardest thing for me to learn in forex.....is to sit on my ass and do nothing....
The advantage of this Heads and Tails experiment is that PipaH does not work on entries, so
it is exclusively MM and that's the best way to really improve it !
Exactly alex_forex ........that is what I am trying to accomplish , try to be profitable ONLY by using MM....if we can figure that out, it would be able to figure "almost "anything.
I know it is not an easy task.....but that's where you will see the "REAL" brains.....
The hardest thing for me to learn in forex.....is to sit on my ass and do nothing....
There used to be an EA that took it's trades depending on whether price was even or odd , ie long if even & short if not, so pretty much a flip of the coin. It was a little ripper at the time probably because it had a good RR ,I think 90 SL & 600 TP , but also I suspect those largish values may have been some help??Possibly making use of the weekly and daily ranges?? Also though,it was run on GBPJPY back in the day when the market had considerably more volume and Yen pairs especially loved to make big runs without too much retrace.Not sure how it'd go today but best of luck and may be give some thought into trying it on a yen pair.
Durante wrote:There used to be an EA that took it's trades depending on whether price was even or odd , ie long if even & short if not, so pretty much a flip of the coin. It was a little ripper at the time probably because it had a good RR ,I think 90 SL & 600 TP , but also I suspect those largish values may have been some help??Possibly making use of the weekly and daily ranges?? Also though,it was run on GBPJPY back in the day when the market had considerably more volume and Yen pairs especially loved to make big runs without too much retrace.Not sure how it'd go today but best of luck and may be give some thought into trying it on a yen pair.
Hi Durante.....thanks a lot for your feedback .......will consider adding a jpy pair in the near future.......
The hardest thing for me to learn in forex.....is to sit on my ass and do nothing....
Okkkkkk......lets see where we stand for the 3-4 first days of the experiment......
we where stopped out on the first orders on both of the pairs this week and now on the open orders(screenshot) we are in the minus, BUT.....IF the EUR turns north now that Merkhel gave some good news over the weekend.....we just might be in the right direction.....
there is some more space for a little pullback .....but lets see the open where market will take them.....
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The hardest thing for me to learn in forex.....is to sit on my ass and do nothing....
im also interested in this topic and hence are going to provide some advice on how to frame it.
this is not quite as simple as just a heads and tails argument as risk in itself has more parameters that should be discussed.
so in a trade there is -
an entry
an exit
a size of a position
now essentially in a heads or tails argument you have 2 choices..lets for argument sake say you take the position of a trend so what ever the last candle happens to be.
now what the key here is ....is the stop loss calculation in comparison to your leverage and position size relative to your overall amount trading...
this is the key factor....so i suggest a calculation based on volatility and of some sort to organise the position..and hence make it dynamic on a couple of pairs in order to have a choice...
to volatile and a large stop loss and were finished.....
.....only the "HEADS AND TAILS" has to stay.....
.....but lets see the open where market will take them.....