Using a piece of note book paper, a calculator, logic thinking, and a ton of math, I have upgraded my trade style. Gains should be more consistent, losing trades should have less of an impact, and margin consumption should be much lower over the duration the position is held. This upgrade takes more advantage of channel trading since the pairs channel more than they trend. My son trading only $2,000 was the first motivation for the upgrade. My daughter will be going live soon as well.
Hobbit is putting the final touches on the last few demo tests. He is trying to margin call it. He is using different account balances, currency pairs, and market conditions. Of course to be real accurate he would have to test the whole year and for many years. The style just before this one was not so prone to mistakes. This upgrade will be even better. I guess that�s why it is called an upgrade.
The demo parameters remain the same. Account balance is $1,000, leverage is 400:1, and one lot will control $1,000. My son is trading a live account using this style as well. He will be trading a little conservative considering the demo testing is not yet complete.
I will have this fully put together tomorrow. I will place the firs trades near 5:00 pm EST. My favorite time to close positions and enter new ones. The last $1,000 dollar question had a 70 something percent ROI. This one should be better or I guess I will not be able to call it an upgrade.
I had my daughter read it to see what she said. She said that she knew me and understands where I was coming from. But not ever one knows me. She said that it does sound boarder line as Traitor thinks.
Is it sweeter to get a trade style for free or to upgrade one to fit you needs and personality? I like my trade styles. They say this is a creation that started in my mind.
An idea that piptigress (my daughter) had, she wanted to know why some people didn’t take the trade styles on babypips.com and upgrade them. I let her know I would mention it.
Eh pipgod you mind PMin me to tell me what you did, just like a sentence, if you looked at past data, just reviewed your strategy, or whatnot, I don’t wish to know what exeactly you did, since my research I do is quite robust (haha I’ve been using that word alot lately). Thanks, if you don’t no worries eh it’s cool, it’s not my strategy I have to develop it’s myself. Have yourself a good one!
I changed the strategy to fit a lower account balance for my son. The up side is that it might be more profitable all the way around. The risk calculates to be lower, and money management does a better job of taking care of it’s self. The whole thing is more mechanical with smoother gain cycles.
Eh pipgod, it seems I sent you a PM but nothing back? I’m not mad or anything, but you seem to be good for quick responses. Is your inbox full, why can’t I contact you? did you even get the thing? I even sent you one a while back and no avail. Anyways please respond to this, thanks eh.
I think I understand now. You want to know is how I upgraded the trade style. That I believe is done differently depending on the trade style being upgraded.
Trade styles have two parts. (generally speaking)
[U]The first part[/U] is what is working. I did more of this. What I mean is, I took what was working and reconfigured it a couple of different ways. Some worked better and some didn’t. Of course, I used what worked better the best.
[U]The second part[/U] is what is not working, or not working very well. Try to remove this completely. That may not be possible. So find a way to reduce this part as much as possible. Or get it to work at least a little.
If you use a trade style that you like (or develop one yourself) and learn what makes it tick. I mean study and know it very well. After upgrading it a few times, you will have a most impressive out come.
I did not do this through back testing or past information. I know this trade style very well. I know that the wealthy (billionaires) trade differently that we do. I get a modest 100% ROI during good market conditions. They do much better. The gap between a day job and millionaire looks big, but the gap between millionaire and billionaire is HUGE. I must keep upgrading if I’m ever going to get there.
Now maybe I’m silly and I still don’t understand what the question is. The first reply was so far off that you didn’t even know I had replied. The reason I used it out here is because (if I answered this correctly) you are not the only person with this question. A few of you asked (in PM’s) and so if a few that are asking have the question, then many who are not asking have the question.
yeah thanks pipgod that’s what I was looking for. It would be of no benefit as to the exact way you upgraded it, just the theory behind is much help. Thanks again eh!
Check it out! The next upgrade is in progress. The theory is finished. Much demo testing to be completed. It’s is so much more efficient. I would not have believed this if someone would have showed me this only three years ago.
I think that is the key to upgrading, I’ve messed myself up trying to upgrade without enough testing. It is better to prepared with practice before you decide to start the new configuration.
