So not much new going on here, just playing out my last week of night shift, hopefully for ever.
Looking forward to the very brief time home before the promotion, 7 days at home before I travel.
Looking forward to time with my little boys and my girlfriend.
Mechanical Private trading
So yesterday was the first time in 7 weeks trading the live account that ALL my positions had closed out.
It was a strange sight for sure. It was also nice to see that the closed balance was positive!
I’m not taking that fact for granted at all!!!
BFF held me out of most trade opportunities, but I placed 1 trade yesterday.
Today I was presented LOTS of opportunities, however BFF told me to stay out of 4 or 5 of them.
I took 6 trades, so 12 positions.
Most of these are continuation trades from trend directions that were already established.
As happened in March (17th) there was an inflow of money from Equities, then back into equities the last couple of days, mainly surrounding Bidens comments on Capital gains taxes.
This seems to have subsided and the trends are continuing as they were… Back on them then!
Mechanical Prop Trading
I’m following exactly my Private trades, with the exception that instead of 2% risk per trade, or 1% per position I am trading 0.5% per position or 1% per trade.
Also there is a reduced list of available pairs, the Majors and Minors only, so no exotics.
Not a huge deal, just means I have one less trade open on there than on my own account.
I have to use MT5 web to make the trades, to calculate the lot sizes I have to use the position size calculator on Myfxbook, as I have to put it in as lot’s rather than the convenient % of equity or cash value you can use through TradingView.
I’m simply opening the trade on Oanda via TV, then using the Pip value in the calcualtor on MT5, and verifying my SL and TP positions against my now open trade on TV.
A nice and simple process, which so far seems to be working ok. No dramas.
I’ve also thrown away ALL my backtested Algo’s as they were all Trailing stops, and started backtesting new ones with fixed stops. My own algo backtests ok with fixed, only a few occasions there’s a little more DD with fixed. I’ve just got to keep the account DD level under a watchful eye.
So I’ve still been testing the Beta EA that I’m part of, and it’s very interesting seeing the results, and simply learning the process of backtesting etc.
I’ve also been speaking closely with the developer of another system, one that’s already in general release, although the developer is now looking at expanding the risk management model.
After talking, he’s offered me free access for a period, on the condition I give him some feedback and also that I write a review on it.
He seems to think I’ve got enough knowledge now to be able to assist, and articulate what the system can do.
I’m very keen to try it, although I won’t have much chance until June. So time will tell, but it may be something I can play with and deploy to make money while I sleep. The work comes in backtesting and configuring, knowing how to test and how to interpret.