hey Robert, I can post that excel if you want me to, I just have to find it. if you want to post something like that as an attachment look underneath where you type your messge in and you’ll see where it says manage attachments. click on that and it will let you brows to wherever on your pc the excel file is stored and you click on it and then click on upload then post your message. play around with it, you’ll get the hang of it.
heavy rains here lastnight and I had a roof leak so stayed home from work to fix the roof.
wish I had taken advantage of all that down move today but I did get the pips last night.
I’ll try to post some of my trading ideas over the weekend with some MAs that Robert mentioned.
The maths is sound… promise. Hard to believe just 20 positive pips a day averaged out starting with a $1k account at 1% trades can compound up an account like that but its true… the catch of course is being able to do it. :o
I agree with you on the 4h Boll. Thats the reason I thought price was going to track up this morning. Oh well.
Going out the door right now… son’s got another County Rugby game… flood lit pitch tonight. Cool.
True, I just did the calculations in a spreadsheet. But a 1% trade assumes only 10pips loss to try and gain 20.
However, on that final trade to get 1m you would be risking 10,000 with a bet size of 1,000
If only it was that easy
I am really liking this thread
made 83 pips - spread of 12 for 71 pips yesterday.
and 64 pips - spread of 12 for 53 pips today.
I am sure I could have done better but I am being careful after
losing 14 trades straight using a different system . ( couldn’t follow the rules)
Keep the posts coming I am learning more every day, maybe I will be able to call myself a trader some day.
Here’s Roberts Excel spreadsheet. I was going to replace the numbers with formulas so you can try different scenarios but never got around to it…
I have a square tuit but not a round one… (left field humor alert) I keep it right next to my box of scratch… When ever I make anything, I always make it from scratch.
Regarding my previous instructions for adding an attachment. The forum won’t allow excel .xls file types so I had to zip it up with winzip. you can download winzip free if you don’t have it. just google it.
Congrats JohnD your’e doing better than me so far.
But that’s just 2 days the last 2 months I lost 75% of my account.
Mostly by not following the RULES, I hate rules so the less there are the better chance I have of following them. That is what I like the most about this thread it easy to follow the simple rules and they make sence to me not blinking lights or bells and whistles.
BTW no D in my name that was suppose to be a smiley
oops sorry about mispelling the name. Dont feel bad Iost about 50% of my account but started small because I knew it would take some practice and learning! Just curious what system were you following before?
What I can’t figure out is when the middle 20 BB is changing it’s direction a tick or two. Price has retraced beforehand but then all of a sudden Price moves back in the direction it came from before the retracement and the 20 BB keeps moving in the opposite direction a tick [B]AFTERWARDS[/B].
I think we just have to wait for an entry even if it costs us pips for not being close. Especially in a counter trade.
Also when price hit’s the 20 BB it stalls. Regardless in what direction price travels. But that’s to be expected.
The spelling was my fault not yours
The system was patterns mostly Grartly 222 and butterfly.
I am not cut out to trade long term trades, am a action junkey
Trying to work on that though.
I did learn my lesson on over trading trying to get even with the forex gods
and too large of trades.
now working on waiting for the right trades to take by the rules
Doing a counter trend trade when the PA is showing such a sharp angle down or up is never very productive and the risks are way too high. It’s like betting the house on an inside straight in poker. The odds are just not in your favor.
I unfortunately know this from learning the hard way. When the PA crosses the Bols midline look for a trade with the trend. If you look at the history of counter trend trades on any pair the PA usually does not reach the opposite bols line and on sharp angles up or down even if it does the rewards are meager.
Always trade with the odds in your favor which is with the trend unless the angle of the trend is fairly flat. Even then you will see the PA hesitate at the midline before moving to the opposite bols line.
20bb centerline is simply a 20 period simple moving average so it’s calculated on the last 20 candles. so even when the current candle moves, the bb is still being influenced by nineteen past candles.
I don’t like the term lagging indicator, it’s over used. MAs are useful obviously and give winning trades (I notice we both had something to say about that in another thread)
Yes I agree 100% I learned that the hard way trying to get even.
For now I am only going to risk 1% until I am constantly in the + pips
then 2% Max after that.
Absolutely Where I went wrong was trading 3% of my opening balance even when the current balance was dropping.
from it will be 1% of current balance 2% max.
[B]Outstanding game[/B]!!! Jamie was playing with a broken wrist but got the ball on his own 25 yrd line and fended off five intercepts (I kid you not) to score under the posts. Now has a black eye after being stamped on and a blue’ish foot. :eek: Plays County v County (State v State for you US types). Sorry off topic but still pumped from that game. Swear hes going to one day play for England!
OK… back on topic. [B]TalonD[/B] thanks for posting the excel sheet, but its out of date. Have a new one that I think is better laid out and goes to the 300 days. I will email. Please feel free to do your stuff!
I would suggest that initially, 1% bal trades are ok. But when and if the balance of your account becomes meaningful to you. You consolidate your position for awhile until the trade size becomes 0.5%. Then when the figures get serious, do the same until your trading 0.25% balance trades. It will then take alot of bad trades to make you poor again!
[B]SanMiguel[/B] the 1% of bal is the trade size not the risk. So its high enough to start out with a relatively low balance. Would not reccommend anymore!
At this stage, unless you’ve already got a $50K account. Don’t get too hung up on the trade size as it gets proportionately higher. You’ll get used to it as your account builds. I trade a ‘[B]BIG[/B]’ account and don’t look to the Dollars but the pips!
