TraderJoeForex » Oct 7th, '16, 15:17 wrote:
This is great Mathias, thank you.

I look forward to testing and seeing whether adding M1 and M5 CSS delta and Diff to my M15,H1,H4 set will add more precision...

.. I have now reached 19 closed baskets on my little test and looks like it might even make 20 by close. I only started this demo end of play Tuesday so that is +19% in 3days and neither GBP crazyness or NFP today posed any problem. It also looks like a -10% basket SL should work which is comforting. Simply awesome!

desi » Fri Oct 07, 2016 11:37 pm wrote: Great results and yes all credit to Mathias.

BTW looks like its a cent account. So Global Prime allows such accounts and what is the max. we can deposit in that case?

TraderJoeForex » Oct 7th, '16, 20:43 wrote: Not sure what gives you that idea. Global prime don't do cent accounts. Cant wait till Jeremy sees this

Zennor » Fri Oct 07, 2016 9:53 am wrote:
I shall continue with the system as is on this account but on Monday will start a new one with the same settings but taking into account what Jem said reduce the pairs by removing a few NZD and CHF pairs which have not produced quite the results of the other pairs and do a comparison at the end of next week to see if there is an impact on DD and number of baskets closed.

desi » Sat Oct 08, 2016 2:06 am wrote:

TraderJoeForex » Oct 7th, '16, 20:43 wrote: Not sure what gives you that idea. Global prime don't do cent accounts. Cant wait till Jeremy sees this

Oh my mistake then. I thought 500 balance is not enough otherwise for trading with this EA.

Zennor » Sat Oct 08, 2016 11:59 am wrote:
Desi it all depends on the ATR you are using. If you are using 1% risk per trade on 2 x 20 day ATR then you would need an account of @ 3000. As per the method I proposed.

The reason for this is so that you can as near as possible achieve the same risk over all pairs traded.

Small accounts like 500 will give heavy weighting to the higher volatility pairs because the minimum lot size is 0.01 lots and I'm talking Global Prime here.

As an example the GBPNZD has a 20 day ATR of 180 so your 1% stop loss would be 360 pips per trade. This is £5 per trade which means that you need a lot size of 0.002. As your minimum is 0.01 this means that you would be risking 4% per trade - £20. If the ATR increased to say 200 then you would be risking 5% per trade.

Even low volatility pairs such as EURCHF with an ATR or 51 you would be risking 2% per trade so you need an account large enough to accommodate all pairs that you intend to trade.

So a few high volatility trades going against you could get very sticky very quickly.

On top of the fact that your Margin would get eaten up very quickly.

A 3000 account is sufficient for a 20 day volatility of 250 pips. Were I ever to trade this live then the absolute minimum that I would personally use is 5000.

Have a play with this calculator and you will get a feel for the size of account that you need.

http://www.myfxbook.com/forex-calculators/position-size

Having said that TraderJoe is not trading his method using Daily ATR, I believe he is using 4H ATR and is quite different from my method hence the reason that you may be getting confused between the two methods traded but I hope that my explanation explains why I mentioned in post 1 why such an account size is required for such a method.

TraderJoeForex » 07 Oct 2016, 21:17 wrote:
This is great Mathias, thank you.

I look forward to testing and seeing whether adding M1 and M5 CSS delta and Diff to my M15,H1,H4 set will add more precision...

.. I have now reached 19 closed baskets on my little test and looks like it might even make 20 by close. I only started this demo end of play Tuesday so that is +19% in 3days and neither GBP crazyness or NFP today posed any problem. It also looks like a -10% basket SL should work which is comforting. Simply awesome!

TraderJoeForex » Thu Sep 29, 2016 12:25 pm wrote:Here's what I propose about ££ contributions since it's so nice quite a few of us offered to chip in so quickly which is great.

Once this is nailed and working we could pool from everybody willing to chip in and split 3 ways.. Mathias for willingness to jump in and modify his dashboard to suit this project, Bob's chosen charity Compassion on behalf of Bob and Baluda without whom we would not have this indicator and Steve as a thank you for this space for us to share.

I will have to ask Steve but perhaps he'd be willing for us to all just chip in directly to him and we can trust him then to split the 3 ways.

Hope that sounds sensible, of course any donations are optional but I know I'll be trading this live and anyone else doing so has a good chance of making lots of ££ from this.

qvintus » Sat Oct 08, 2016 4:10 pm wrote:
Hi, did you handle the DD in Asian session manually on Friday?

The trades opened early Friday at Sydney and Tokyo sessions closed for me one hour before London open when my basket SL of 10% occured. (Using your delta/diff setfile)

TraderJoeForex » Sat Oct 08, 2016 6:22 pm wrote:
The EA was 100% hands off.. but I didn't actually have any basket SL set. It's just the analyser that suggests it was under 10% although it would only take a couple of trades with different lot size or slightly different account size at the time (mine was about 560GBP) to push a couple of % either way. Just looking at it the max drawdown was during NFP not the Asian session for me. The few GBP trades were all on the right side during Asian whereas during NFP there was a spike against the trend direction on a few pairs.

Perhaps working on the basis of a 20% basket SL would be more sensible then and if that represents one week's profits as long as it doesn't hit more than 1 per month then that would still be a very strong return. Only time will tell.