Jemook wrote:Ouch! The account is hurting big time. Even with trying to keep my losses small I'm struggling to catch on to a trend. I can see AUDUSD and EURUSD were great trades this week but I didn't enter them for some reason. Not sure if this lacklustre performance is cause I may be too busy with other things to be able to focus on this properly but I'll try and work out if something needs changing.
ouch.png
Ahh.. The ever elusive crack to the FX code still eludes me
Jem- I think your flavor of 10.4 looks promising for me. Two of my demo trades would not have lost if I had followed your rules last week .
I have been testing some bots to set and manage 10.4 trades for five weeks now. The first two weeks had great gains (because just about every thing was trending) the last three have been bad and this last week was the worst since each demo lost. But my losses have been much less than your 5k FXCM account (which looks like it has been losing about 5% a week).
My test results from the four accounts for the weeks ending:
6/22/13 From +.02% To -1.34%
6/29/13 From +0.0% To -2.94%
7/06/13 From -0.06% To -1.66%
I wonder why our results are so different when your selection criteria to enter trades looks better to me than the basic 10.4 rules. Here is what I have been trying:
I have been testing four different mixes of settings to see what seems to work the best. Each account has 5 pairs. I used two mixes ; the first was simply the five pairs with the greatest absolute Daily Slope Values above .6 (High Correlation Set).
The second mix would substitute lower Daily Slope Values so that no single currency would be in more than two pairs.(Low Correlation Set).
The other thing I was testing was ATR settings for stop loss, take profit and instant trailing stop. I used a 2 to 1 reward to risk ( 1.25 stop with 2.5 TP)
I have been using 1.25 and 1.5 times the daily ATR for the last 7 days. I set the lot size for each pair so that the maximum risk is $100 USD (2% on 5K) Total Risk is 10% . I use a self hacked version of MPTM to use the add missing stop loss setting with use ATR stop option to enable the instant trailing stop to be based on ATR. I also am using the global order close to close at $300 (6%gain) profit and shirt protection at -$200.00(4% loss). My target weekly gain is 5%. I only take 1 trade per pair and close any open trades Friday afternoon- win or lose.
When every thing was going up the low correlation at 1.25 ATR produced the best results but in the last three down weeks the high correlation 1,25ATR has done the best.
There are 10 kinds of people who understand binary. Those who do and those who don't.
