| stevehopwoodforex.com https://www.stevehopwoodforex.com/phpBB3/ Print view |
|
| Peaky on Steroids https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=5204 |
Page 42 of 97 |
| Author: | Gertje [ Thu Dec 28, 2017 9:34 am ] |
| Post subject: | Peaky on Steroids |
 Why in the world would you want to do that? Change broker and the problem will be fixed. Only bucketshop have different D1 candles, only to screw you over and steel your money. |
|
| Author: | adamir [ Thu Dec 28, 2017 12:16 pm ] |
| Post subject: | Peaky on Steroids |
This can be solved as Steve wrote. My live broker is Swissquote Bank and it is not a bucketshop. |
|
| Author: | Gertje [ Fri Dec 29, 2017 1:54 pm ] |
| Post subject: | Peaky on Steroids |
A few weeks ago, I mentioned I was working on settings to lower the DD that can occur sometimes. Like I use to say, not IF but WHEN it comes... As a startingpoint I used the system I described earlier, trade the H4 and D1 timeframes divided in 3 groups by their respective 6th-distance on the H4. Each group gets their own lotsize, MarketDistancePips etc. all to try to lower the exposure on the more volatile pairs [greater recoverydistance] and maximise the profit on the less volatile pairs [higher lotsizing]. Goal was to have all pairs contribute equally to the balance, since the margin they 'eat' is the same. The 24th of November I started a fresh demo, and set it up like I described above. The only difference being, I just let PoS trade H4, with no magic#, and no comment so I can enter trades manually and have PoS handle them as being it's own. This way I can decide for myself if I want to jump on the D1 train, or not if it's in the same direction as the H4. Like I wrote a few posts before, I like to take profit regularly, and enter again at the same price. This takes some elbow grease to enter all trades, but in the end it is worth it. This way I booked nearly 1.000 pips on a 400 pip run, AND have another ~150pips floating positive. [see attached chart]  Now for the lowering the DD part; I once read about a guy that had a huge sum of open profit. He opened long trades at the bottom [duh] and shorts at the top [double duh] of the higher timeframes. By letting them open, he ended up with a hedged position, with a locked in floating profit of 1.000's of pips. Somewere it struck a nerve in my brain [might have been the only usefull one] and I remembered it at the time I started this demo. I let PoS do it's thing, but remove the TP from the highest/ lowest trade and let it serve as a cushion for the other trades of the pair. Like in the below EURCAD chart, it takes a BIG retrace to get in negative float with the current 270+pips floating cushion. I have achieved this on a few pairs already. I -might- close these cushion trades in the future, maybe at the opposite signal, I will see when time comes. Below the open trades and the booked profits; The account can be viewed with Fxblue; https://www.fxblue.com/users/2099138 It's worth noting the 95,7% winrate...  My cent-account trading PoS in 'my' old way just reached 2K from the original $400 deposit. As soon as the equity reached 3K I will close all and transfer it to GlobalPrime, and replace above's demo with a live account. At least I have the settings right by that time....  . . |
|
| Author: | billv [ Fri Dec 29, 2017 8:54 pm ] |
| Post subject: | Peaky on Steroids |
Hi Gertje Thanks for sharing your results. You have put a lot of thought into this. How much time do you think you will need to spend daily in order to trade this way? Do you check the charts every hour or more often than that? cheers |
|
| Author: | FxFoil [ Sat Dec 30, 2017 5:07 am ] |
| Post subject: | Peaky on Steroids |
. |
|
| Author: | dreambig2 [ Sat Dec 30, 2017 11:47 am ] |
| Post subject: | Peaky on Steroids |
Thx for posting Gertje....I'm working on wrapping my head around this method you are using...looks like a way to trade that would be compatible with a shift workers schedule.  db |
|
| Author: | Gertje [ Mon Jan 01, 2018 8:12 pm ] |
| Post subject: | Peaky on Steroids |
Half an hour daily should be enough, check for breakouts/ new entries and make sure there are sufficiënt pendings in place. I have access to my VPS from the office, so I check every now and then. |
|
| Author: | billv [ Fri Jan 05, 2018 12:35 am ] |
| Post subject: | Peaky on Steroids |
Thanks Gertje , I have setup 3 charts and running 3 groups of currency pairs in a similar way to you but with 3 timeframes enabled 1H,4H,1D and I have set the minimum distance between trades to 25 pips in all 3 groups. I added the 1H and 4H because I want more trades. I intend to let the EA manage the trades but I will be adjusting pending orders and TP. I started with lot size 0.5 on a $50K account and I will see if I need to vary it over the next few months. My target would be between 5-10% growth per month (not 5% per day like you )cheers |
|
| Author: | Gertje [ Fri Jan 05, 2018 11:05 pm ] |
| Post subject: | Peaky on Steroids |
You will blow the account, unless you trade limited pairs. I make 1% a day on average and use way more conservative settings; 0.1 - 0.2 lotsize on a 50K account 50 - 100 pips distance between trades 1 timeframe You can't keep track of which trade belongs to which basket running 3 timeframes in parallel. I learned the hard way that the nr.1 thing to succeed in forex is account preservation. Like Bob says; "trade to trade another day". There is nothing more true than this. $500 with 0,5% a day will make you a fortune in a few years. $500 with 5,0% a day will cost you a fortune. High returns come with high risk, high risk in forex is a blown account. I prefer lower returns over a blown account every day a week, and even twice in the weekend.  . |
|
| Author: | billv [ Sat Jan 06, 2018 12:07 am ] |
| Post subject: | Peaky on Steroids |
I could do, but unlikely. Let's see what happens Thank you IMO 1% per day is a HUGE gain I'd like to stay below that and will be happy with an average of 0.5% My distance between trades is high (50 - 100 pips like yours) It is the minimumdistanceBetweenAllTrades which I have set to 25 pips 25 pips is a good minimum distance and will allow for relatively easy recovery for the pairs I trade. |
|
| All times are UTC | Page 42 of 97 |
|
Powered by phpBB® Forum Software © phpBB Limited |
|