Hey Andy,
It's regrettable that this is continuing to play out. No one's raking you over the coals and you're taking the all the questions - some antagonistic, some not - with a good spirit.
How about this? A few questions about the method you used/are using as reflected on the screenshot; but nothing to do with indicators, etc.: pure money management questions only. If you can lay out a responsible strategy there, I think that'll add a lot to the credibility of whatever method you're using.
So, 3% max. on the table in aggregate?
I see 16 positions on your screenshot. 14 positions are covered by stops, 2 are not. On the 14, in total you were capable of a maximum loss of 785 pips. E/J and G/U had no stops in place, which could've counted against you pretty significantly on a different day. A lot of your stops are 70-80 pips out from your entry, but some not, and there is no pattern based on position sizing. The question then is: how do you determine your stops? And to go along with that, how did you determine your TPs?
Your net on the screenshot was 1092 pips (unless I left a couple pairs out) - an awesome take for a single day, but by no means out of the question. But, how did you determine your position sizing? In some cases you have .01 lots, .1 lots, and .5 lots - were these arbitrarily chosen, or is there some characteristic of the method governing this?
You began the day with 4789. or so in account equity, using over $2500 in available margin - whatever the numbers were (don't have the screenshot up), it accounted for a bit over 54%, or half of your equity. Does that seem a bit steep, or no?
With all of that on the table, can you explain how your exposure was limited to 3%, which comes to approx. $143.67? That's far less than the 785 pips (plus potentially hundreds more on your 2 naked trades) exposes you to.... Any idea of the dollar value that corresponds to those 785 pips, after accounting for the different position sizes? Are you suggesting that was per trade? If so, there must be some overarching calculation that pulls all 16 of your positions together neatly, because with different pip values, disparate position sizes and no real pattern for setting stops on over a dozen pairs, that's a substantial amount of work; and when one of the money stop or limit orders that are set fires off, that would require a rework of the entire thing. So, if you would, please explain the 3% further.
Please don't think I'm grilling you: just trying to ask some direct, non- proprietary (i.e. don't want details about the system) questions so that everyone can benefit from your answers.
Quote:
Originally Posted by andyfx
Well if you read aswell as you advised then you would be able to see that i use a very strict MM technique. No more than 3% exposed. I totally disagree about the fact that is not weather i am in profit or not because after reding many posts not everyone manages to see profit at all.
So to new traders, if you dedicate your life and every hour you can to Forex and use very strict rules along with a decent system, then you CAN make many many pips. To reconfirm my 1200 pips made in 24hrs was achieved with
3% MM.
Sorry to dissapoint.
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