My trades for market open 1 Sept 2014
Lets go grab some PIPS
John
Above are the trades currently running and those I am planning to make on Monday 8th Sept 2014
depending on gaps and market movement.
Been a pretty good week even though I missed the entries to short the Euro.
Increase in equity is 8.9%
This is with reasonable risk - leverage of 5:1 on most trades
catastrophic failure of all trades would have resulted in a 30% drawdown.
Analytics at FXBlue says my risk of ruin is less than 1% so that is encouraging
No drawdown in equity it remained positive all week, although the bank balance took a hit a couple of times
when closing losing trades.
The Bank balance finally closed up 9.5%.
You can see the full report on my trade explorer at the forexfactory â same dallytrader username.
PS If anyone is running MT4 and wants another comprehensive analysis of their trading have a look at the FXBlue site. Free to sign up and they are not selling anything to traders, although there are a couple of free advanced MT4 tools there for technically savvy folks.
A couple of changes to my rules
still looking at weekly, daily and four hourly charts
I donât look at smaller charts for a better entry â in fact my entries are pretty conservative
I donât wait for pullbacks and rarely jump in before the price has passed the previous high or low (and when I do I usually get burned). Just pull the trigger when the trend is established and the market is moving.
I set a catastrophic failure stop of 200 pips as soon as I put a trade on sometimes shift it to a bit more or less if there is a major support line around there.
Only horizontal support lines considered - I donât trade trend lines.
Stop is set to breakeven + a bit at 50 pips profit. Once again considering support areas
Stop is set to trail at about the daily range when around the daily range or 75 pips in profit.
At the moment when movement starts ranging I have been tightening stops right up (20 PIPS minimum though.)
Lets go grab some pips
DT
Edit
Just been playing with some figures and if I had taken the same trades and left my stop at 200 I would have had only one stop out and my profit would have doubled in the last two weeks with 20 active trades at the moment.
I will play around with that in demo for a while.
I think the risk would be too much for me mentally though . The maximum drawdown would be nearly 80% if things went belly up that is just not safe trading.
DT
How was last week, Dallytrader? I started a portfolio this week and hope to find time to fine tune the strategy as I go.
My previous experience with this strategy was pretty good, but I was never able to get it to take off. I have a few ideas I want to work on when it comes to exits.
As far as a your 200 pip fixed stop loss, I think it would work on some pairs, but not on all. In the end, there needs to be a way to adapt risk and exits to the characteristics of each pair. Previously, I always found that the JPY pairs killed me.
Anyway, I hope you are having a good week.
Have been having a terrible week - but just because I should not have been trading at all with personal issues - I still think the strategy is sound.
I too am having trouble with letting profits run at the moment and yes the 200 Pip SL should only be a catastrophy exit I think. I had been letting trades go to there even when they had been sour for a week and I think that is bad management. I have to learn when I have made a bad call or the market is just trading the other way to cut losers short.
Strange about the Yen - itâs been my saviour this last fortnight Iâve been getting touched up by the pound Euro and Swissy.
DT
By the way I have started a New thread in Trading Journals 301 Moved Permanently wonât take MG99âs thread any more off course. Wonât be posting anything there for another week or 10 Days as Iâm away on a Forex free Job until the 27th
Schweeeeeeeeeeeeeeeeeeet! Amazingly summarized 
Whatever happened to Mastergunner. Been thinking about the good old days on BP lately.
Last I heard, Shawn (MG99) had a new girlfriend.
That was back in July. â Apparently, sheâs keeping him really busy.
It really is that simple!!.. I love this method of trading, I was drawn down on my first live micro acct before I found this thread, read all of the details surrounding the method and started trading it with the live acct (no demo) and am already well back into profit above original acct balance.
Would have never happened if I didnât take action and giver a go 
I implore anyone to give this an honest go and you will not be sorryâŚ
Happy Holidays
Raj
Really interesting!!!
Hello, Raj
Iâm glad to hear that you are having success with the MG99 Portfolio Methodology. I hope it continues to work well for you, and I hope that you will keep us updated on your progress.
This thread has been dormant for a while now, and itâs good to see it coming back to life.
â˘
The following comments arenât necessarily directed at Raj, as he seems to have things under control. Rather, these comments are directed to any newcomers to this thread who might be attempting to use the MG99 methodology, but â instead of achieving dramatic profits â are experiencing unacceptably large losses.
This thread presents a powerful methodology, the MG99 Portfolio Methodology, which can supercharge the trading results of almost any swing trader who is [I]already consistently profitable.[/I]
And therein lies an important caveat â
If you are not already successful placing individual swing trades, one at a time â [I]do not[/I] count on this methodology to somehow magically transform you into a successful swing trader. In other words, you canât blindly toss a bunch of bad swing trades into a portfolio, and expect a few winners to compensate for all the losers.
This is not a shotgun approach to trade selection.
Instead, this methodology will simply amplify what you are already doing.
If you are already swing trading successfully, this methodology will accelerate your winnings. If you can achieve overall profitability making five, or ten, or twenty [U]consecutive[/U] swing trades, then this portfolio methodology offers you a way to trade all five, or ten, or twenty positions [U]simultaneously[/U] â multiplying your profitability â without creating intolerable overall risk.
On the other hand, if you are an unsuccessful swing trader â heading for an ultimate crash and burn â this methodology will simply ensure that you crash and burn sooner, and more dramatically.
So, before adding the MG99 Portfolio Methodology to your trading strategy, make sure your trading strategy is profitable over the long term.
â˘
If your swing trading is not yet consistently profitable, week after week, and month after month â [I]without[/I] this methodology â then, before you consider adding this methodology to your current trading strategy, your first task is to develop your swing trading skills.
I recommend that you spend some serious study time examining the swing trading strategies detailed here in the Show me the money! [Swing Trading] forum, and in the Free Forex Trading Systems forum. There are some good strategies outlined in those two forums, and you should be able to find one that fits your preferred way of trading.
The very first step in any successful swing trading strategy â and in the MG99 methodology â is to identify trends (price swings) which you can trade. If youâre having trouble with this basic first step, check out 301 Moved Permanently. That system offers you a simple, easy, highly-effective method for identifying trade-able trends. The Three Ducks method can be applied to any style of trading, but it is presented specifically for swing traders.
The MG99 Portfolio Methodology is a powerful tool, which can do good things in the right hands. But, it can do a lot of harm in a short period of time in the wrong hands. So,make sure you are a competent swing trader, before you try to apply it.
I donât get it. There is no entry method here. There is no exit method here. Basically the âmethodologyâ described in this thread is to use whatever entry and exit criteria you ALREADY have and apply it to a plethora of pairs, and in order to allow that, you have to use ridiculously small position sizes in order to maintain margin. The reason this doesnât make sense is that most forex pairs are correlated and some very tightly correlated, so one may think one is diversifying and spreading out risk but he really isnât. What he is doing is opening up a lot of positions with exotic illiquid pairs that have horrible spreads and opening a lot of positions where swap will erode profits rather quickly.
If you have a winning entry and exit system already established, apply it to whatever pair that best meets the criteria at whatever point in time you are looking at and use big enough position sizes to make a realistic target âworth itâ. Spreading out your margin, that you could have dedicated to a great setup on a single pair, to cover positions on more pairs that donât fit your entry and exit criteria as nicely, will yield less profits.
The only other vague concept in the threads methodology is the idea of holding positions for a really long time. Seeing as how there is no entry and exit determinations described, this is a meaningless idea as âtrade durationâ is not correlated with increased trade profitability on its own. After reading through it, I think this thread died out for a reason.
You are right technical indicators donât help much on trading. News is called news because it already happened. Forex trading is very emotional. If you donât include the human factor youâll never make moneyâŚ
Kevin Miole Trades
Was anyone using this method when the franc dropped the peg? If so how did it fair?
Hello pipmart,
Yes, I was trying this as part of many methods I am trying, with the short Franc position, e.g., USD/CHF. My account was hit quite badly as you can guess. Thankfully I am still on demo and my position sizes have been small. I guess âNot using stop lossâ as mentioned in this method is questionable. FYI, my USD/CHF was positive and going up strongly, so according to this method no need to put stop loss.
Have a great Trading all,
Alireza
i do not make a porfolio in this market.i trade with some pair. i set the TP and SL. how do we make a porfolio in this market. i put a part in paam account, a part in pro trader, i trade a part of fund. i do not put all money in a account
Hey all,
Thanks for keeping the thread alive. The methodology still works fine even after two years of creating this thread.
Iâve been busy with life, changing firms, launching two start up companies, moving, and as Clint referenced before romancing the woman of my dreams.
Everyone has always asked me to start a myfxbook and I never was comfortable putting my personal account out there, so Iâve created a demo account late last year. The results? Still doing well. Up over 50% for the year.
You Will Retire System by priceactionhero | Myfxbook
There you have it. Iâm keeping the open orders private for reasons referred to above. But for those that doubt, doubt no more. Quite simply, it works.
Iâm going to go back and Reread my initial posts. In time all things evolve, and I would be curious to see what has changed from what I do now, from what I did then.
Okay, Iâm back up to speed.
I do put in TP and SLs on entry now. And I enter on limit orders and not market orders.
I was doing some math and saw that as long as my winrate is above 33%, I can enter in at a 2:1 reward to risk ratio and still come out ahead. My win rate currently is a little below 40%. So itâs more set and forget now.
Iâm also now starting to look for opportunities to place two or more orders in an existing trend. Figured I may as well capitalize on a strong movement and look for areas to enter more than once when I can.
Still donât use indicators. Still donât care about the news. Still trade 28 pairs. Still am profitable.
Hey MG, just found this thread this morning and read the whole thing. I have been using this style of trading the last 2-3 weeks and the results have been amazing. I feel fortunate that there are others that trade with this style. Thank you so much for this thread. I have subscribed, and cant wait for your future posts.
Good stuff. As itâs been for the last 7 years on here, I come and hang out for a some time, then I disappear for a year or so and come back to hang out some more.