GBP/JPY Equity Building Profitable trading strategies

[trav72]

Originally Posted by HAUGHT007

Just noticed something.... at the bottom of my MT4 that has been brought up before. It says "Margin level: 1213%" or some other crazy high number. ROUGHLY...this is how many pip drawdown you can get for anybody else that has this number. Not REAL accurate but it's somewhat close for a quick-glance-swag.

i like that, iwas wondering what that real high percentage number meant in metatrader...so you reckon it is how many more pips down you can handle

[HAUGHT007]

Originally Posted by trav72

i like that, iwas wondering what that real high percentage number meant in metatrader...so you reckon it is how many more pips down you can handle

i think. I didn't do any extensive figuring but where it's sittin right now, my huge margin number is within 25 pips of my max drawdown. You'd have to check it for multiple levels to be sure. It'll work till we get 4xstar's spreadsheet perfect.

[4xStar]

Originally Posted by HAUGHT007

Just noticed something.... at the bottom of my MT4 that has been brought up before. It says "Margin level: 1213%" or some other crazy high number. ROUGHLY...this is how many pip drawdown you can get for anybody else that has this number. Not REAL accurate but it's somewhat close for a quick-glance-swag.

Yeah mine says the same thing .. it made no sense at all .. you mean that is roughly equivalent to pip drawdown? So 1213% means you can be down about 1000 pips & still be ok?

Have you downloaded my excel spreadsheet .. it is still not rright, but it is close .. I find it very useful as you can put in acct size, leverage and then a max pip loss value, like 1500 .. and it will tell you the max lots you can have open. Or vice versa. But I need more experienced people to check it over, I think one of the formulas may still be off.

My demo acct is now $897k. If it gets to $1 mill next week, that will be a double in 7 weeks.

[HAUGHT007]

yeah, it's pretty close to your max drawdown. I started looking at your worksheet last night. I'm meeting a buddy of mine tonight that's one of those crazy master programmers. MT4 has a DDE that I'm planning on using and he's working on making a macro for excel that will use a csv file to load everything. The tricky part is finding a way to use the DDE to make the csv file from MT4.

I'm no computer guy and it took me about 2 hrs last night to learn all that. So the basic jist of it is.....

It'll be a live sheet that changes according to price. Hopefully we can get it to pick up how many orders you have, profit/loss on those orders, how much drawdown (pips you can go down), and then i'll try to create a hypothetical of how many lots you can buy at current price and drawdown at that. Over time, I could probably do a hypothetical of "if i buy this many lots spaced so and so far apart, how far could i go down before it busts". Baby steps though.

[4xStar]

Originally Posted by HAUGHT007

It'll be a live sheet that changes according to price. Hopefully we can get it to pick up how many orders you have, profit/loss on those orders, how much drawdown (pips you can go down), and then i'll try to create a hypothetical of how many lots you can buy at current price and drawdown at that. Over time, I could probably do a hypothetical of "if i buy this many lots spaced so and so far apart, how far could i go down before it busts". Baby steps though.

Yes, the one I have done is very basic, it is just to determine in a ballpark sort of way what is the max lots you should own for your acct size if you allow for an "x" drawdown. Better than throwing darts

[Andrewunknown]

61.8% fibret serving as support @ 212.83, while a close on the 0900 ET candle below there (or 212.71 to encompass two candles) sets up a bearish engulfing pattern. 50% fibret (211.56-213.63) is just below @ 212.59.

[4xStar]

Originally Posted by Andrewunknown

61.8% fibret serving as support @ 212.83, while a close on the 0900 ET candle below there.....

Which timeframe Andrew?

[4xStar]

What I see on the 3 hour is a reverse head & shoulders forming .. is she getting ready to run again??? If so, I would not expect it before end today, but maybe this is setting up for next week.

[Andrewunknown]

Originally Posted by 4xStar

What I see on the 3 hour is a reverse head & shoulders forming .. is she getting ready to run again??? If so, I would not expect it before end today, but maybe this is setting up for next week.

The call for a bearish engulfing was on the 1H, but it didn't confirm on the 1000 candle. Charts become far less intuitive on Fridays, which elicits the perennial question: why do I trade on Fridays?

Where do you see an inverse H&S on the 3H? We had a good example on the 3H on 07/15-07/17 that broke around 210.40 on 07/17's 0300 ET candle.

[4xStar]

Originally Posted by Andrewunknown

Where do you see an inverse H&S on the 3H? We had a good example on the 3H on 07/15-07/17 that broke around 210.40 on 07/17's 0300 ET candle.

Starting with the candle 8 candles ago, I am looking on Accu charts and they do not give you the time when you hold mouse on candle .. or i can't figure out how to do it yet so cannot give exact time. It is a a brief one, but it is there. Also most jpy pairs are setting up with inverse h&s on various timeframes, mostly 1 hour.