I do understand what you are saying believe me. Of course you are right with your statement if we have trends. Look at the charts in the last 3 - 4 months. There are no real trends at all only ranging market.
Current market situation will close out too many trades with losses and you will have no capital left on the end.
This is why I use a larger initial capital with small lots and small TP targets. This way we do build balance and equity slowly but surely. Then when we are happy with the gains, just close the shop and start fresh.
Frank
I guess everybody's right it all depends on whether you are prepared to accept DD or not. I would accept DD if I am rewarded for it. Only time will tell which approach is the most profitable and anyway, one may be more profitable this year and less profitable next year. The best is (imo) to always stick to your guns and not be too greedy !
I do understand what you are saying believe me. Of course you are right with your statement if we have trends. Look at the charts in the last 3 - 4 months. There are no real trends at all only ranging market.
Current market situation will close out too many trades with losses and you will have no capital left on the end.
This is why I use a larger initial capital with small lots and small TP targets. This way we do build balance and equity slowly but surely. Then when we are happy with the gains, just close the shop and start fresh.
Frank
I guess everybody's right it all depends on whether you are prepared to accept DD or not. I would accept DD if I am rewarded for it. Only time will tell which approach is the most profitable and anyway, one may be more profitable this year and less profitable next year. The best is (imo) to always stick to your guns and not be too greedy !
Good week to all,
Zyp
Last four years give right to long term, but yes, what future reserve ? the best thing is to do both strategy
For now, I have the Long and Mid term strategies and hope we will have short term with Monday Zone Break Out
sorry.. is that on TF M15? or Daily? i understood is fixed lot...
Thanks
Daily charts
Frank
PS: Also use this set file now. I have changed it a bit to match the original 36b setup I have running, because that is still bringing the best results. The new features of the 40c and the settings of 36b are ideal for me at least.
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I do understand what you are saying believe me. Of course you are right with your statement if we have trends. Look at the charts in the last 3 - 4 months. There are no real trends at all only ranging market.
Current market situation will close out too many trades with losses and you will have no capital left on the end.
This is why I use a larger initial capital with small lots and small TP targets. This way we do build balance and equity slowly but surely. Then when we are happy with the gains, just close the shop and start fresh.
Frank
I guess everybody's right it all depends on whether you are prepared to accept DD or not. I would accept DD if I am rewarded for it. Only time will tell which approach is the most profitable and anyway, one may be more profitable this year and less profitable next year. The best is (imo) to always stick to your guns and not be too greedy !
Good week to all,
Zyp
Last four years give right to long term, but yes, what future reserve ? the best thing is to do both strategy
For now, I have the Long and Mid term strategies and hope we will have short term with Monday Zone Break Out
Philippe
Phillipe,
Just as a reference, please see the 2 accounts on the links below. You can clearly see the effect of the 3MAC closure had on the balance and the equity. Both accounts are running 36b version and had large closures with losses. That set back the account a bit. I know it will recover but 3 or 4 of these in a row can do a devastating affect on the equity and the capital.
See the trading history when the closures happened. Just want to help to sort this out.
I do understand what you are saying believe me. Of course you are right with your statement if we have trends. Look at the charts in the last 3 - 4 months. There are no real trends at all only ranging market.
Current market situation will close out too many trades with losses and you will have no capital left on the end.
This is why I use a larger initial capital with small lots and small TP targets. This way we do build balance and equity slowly but surely. Then when we are happy with the gains, just close the shop and start fresh.
Frank
I guess everybody's right it all depends on whether you are prepared to accept DD or not. I would accept DD if I am rewarded for it. Only time will tell which approach is the most profitable and anyway, one may be more profitable this year and less profitable next year. The best is (imo) to always stick to your guns and not be too greedy !
Good week to all,
Zyp
Last four years give right to long term, but yes, what future reserve ? the best thing is to do both strategy
For now, I have the Long and Mid term strategies and hope we will have short term with Monday Zone Break Out
Philippe
Phillipe,
Just as a reference, please see the 2 accounts on the links below. You can clearly see the effect of the 3MAC closure had on the balance and the equity. Both accounts are running 36b version and had large closures with losses. That set back the account a bit. I know it will recover but 3 or 4 of these in a row can do a devastating affect on the equity and the capital.
See the trading history when the closures happened. Just want to help to sort this out.
Just as a reference, please see the 2 accounts on the links below. You can clearly see the effect of the 3MAC closure had on the balance and the equity. Both accounts are running 36b version and had large closures with losses. That set back the account a bit. I know it will recover but 3 or 4 of these in a row can do a devastating affect on the equity and the capital.
See the trading history when the closures happened. Just want to help to sort this out.
I did not manage to go to your fxbook by using the link, anyway if i understand you right you would recommend to turn of 3MACD close right ?
Yes change it to FALSE, and the links above do work now.
But please understand it is only my way of making it work. Philippe is the originator and it is his baby, he has other ideas and is working on improving this even further. As it is good enough for me.
nubika wrote:
... I know it will recover but 3 or 4 of these in a row can do a devastating affect on the equity and the capital....
Frank
Hi Frank,
That should not be a problem if you were to reduce your exposure a bit. 0.05 lot / 3000$ may be a bit high for this long-term trend-following system. I think Philippe would use 0.01 lot per 1000$.
nubika wrote:
... I know it will recover but 3 or 4 of these in a row can do a devastating affect on the equity and the capital....
Frank
Hi Frank,
That should not be a problem if you were to reduce your exposure a bit. 0.05 lot / 3000$ may be a bit high for this long-term trend-following system. I think Philippe would use 0.01 lot per 1000$.
Cheers,
Zyp
Oh YES ! 0.01 / 1000 $ MINIMUM !
it's a statistical view : about 50% bad trades with €/$ between 2009/2013 BUT winner's trades paid for losses !
To Get through bad period, you MUST trade low ! This is a very big important rules in Forex
it all depends on whether you are prepared to accept DD or not. I would accept DD if I am rewarded for it. Only time will tell which approach is the most profitable and anyway, one may be more profitable this year and less profitable next year. The best is (imo) to always stick to your guns and not be too greedy !