I got that nice move down in eur/usd manually 
itâs at a support level right now though so I got out with my profit.
Hey congrats! 
Yeah, there is this s/r zone at 14000. Took a lot of time to jump over it and now it might act as support.
Buckscoder:
How is this possible? What leverage do you use?
What`s your average weekly pip gain, and how many trades per week?
I think that there is good information reguarding what happened today with the euro on OPs blog but thats just me. We might end up embarassed if he isnt full of ****.
hi. iâd like to code my strategy where do i start? what platform is best, company, s/w, books etc? any pointers welcome, Thanks
Canât check the blog from here but will later.
But I see Euro made it through that support and now testing the support level from two days ago. I would expect GBP to follow. I still have a sell on GBP
and just a little side note⌠killed the usd/zar again today! I like that pair
Leverage is as I wrote already dynamic. An example:
If there is 1.5k in my account, it is a lotsize of 0.1.
If there is 15k in my account, it is a lotsize of 1.0.
No trade however is more risk than 1%. If that works for a year or so I might increase that to 5% or so and then it goes a bit faster, lol.
I do not care about pips per week. I do just care about max. drawdown, drawdown characteristics, profit factor and there was something, hmm, canât remember oh yes, there should be some profit after a while, lol.
The most important factor however is the maximum risk, which is the drawdown. Because that is my signal to wreck my robot if performance goes beyound this value.
To repeat that: I am at the beginning, not at the end.
gh0stJPY:
That all depends on your own favor. As long as your strat works and your mind is able to do it. I mean as long as you really want to do it and to invest blood and sweat. Itâs not that hard and not that easy either. I donât know anything about you. It took me decades, not months, to come to what I have now. Not trading. I mean all together: Open my mind for trading, learning to trade, learning to code, learning to invest money (which is different than just trading) and so on. You can do that with any platform and any broker which suites your request. Just let me tell you: Donât pay a penny for material (itâs all free at the net) and even donât pay a penny to hearsay. 95% of all what is said through those forums is big bs. Donât trust anybody. Donât even trust yourself!
Yeah, that was really easy now. Surprise, surprise. 
I must say, I just focus on eurusd. I tried also other pairs, but that was just to get a feeling.
The problem what you might have with other pairs if we come to huge money might be the filling. Or stop hunting. If you trade with 1000 lots, what will your broker do if your stop is 5 pips away with the nzd?
Hello again,
Buckscoder (NOW I know what the username stands for):
I think âkummi90â is getting WAY too excited i.e. that is the result of an EA backtest is it not??? I think heâs thinking that itâs your live equity curve!!! That being said: it sure does look good. Thereâs no denying that (so youâd better prepare yourself to be inundated with requests for that EA)!!! LOL!!!
TalonD:
Who is âOPsâ (the blog mentioned by âmizukiâ)??? Thanks to THIS thread (and another one that was started by someone else just recently) I decided to create a blog of my own (I think I was the only person in the world that DIDNâT have a blog BUT NOT ANYMORE!!! Check it out: Technical Trading Systems. Personally: I love the background)!!! LOL!!!
Nice work on USD/ZAR. How come you didnât get ânailedâ when it turned (I of course assume that you were shorting it again today)??? For what itâs worth: the little âturnâ is because HSBC was going to take over one of our largest banks (NedBank) but it was announced this morning that no deal was going to happen (so no inflow of a few billion in foreign currency). I see that Gold has done a little âturnâ as well.
Regards,
Dale.
Hi Buckscoder and thanks for prompt reply. i have a thread here called âMy trading Logâ, i updated it today so look on ânew postsâ. I only got into FOREX last Oct and i managed to create a STRATEGY by Dec, this ran mostly on the JPY pairs, it gained 8000+pips till now (on paper\backtesting), but there were 2 problems for me. (1) it meant trading 5-7 pairs which was too expensive, and then (2) about Jul/Aug time when the YEN shot up itâs kinda ruined my strategy lol , so i was waiting it out.
But then i applied my strategy and changed it a little and now am trading some new pairs, this on paper also has gained 3000+ pips in 2months.
So now I have a decent strategy and past 7 weeks only made one loss week so itâs goin pretty good. Issue i have as with most here is work and time, i get to trade 1-2 hours before i go to work and usualy pickup some pips then. But my strategy runs throughout the day and at work i canât trade and miss out on some big gains! :mad:
Therefore if i could code it and tell it to follow my strategy all day until the trailing STOP LOSS is hit it would be great. But saying that can you not use a trailing STOP LOSS anyway? or does that cost per pip? or does coding do the same thing but save you having to pay the broker?
As u can see am kinda new so maybe asking the totally wrong question anyway lol! but if am not, where can i start, what do i search for etc??
whats your trading strategy???
Your right to the point!
Oh, I would sell my EAs for a bargain. I just want 1 billion dollars out of the kitchen coffee bag if there is one left, lol.
gh0stJPY:
Ur welcome! You could code everything with an EA. Even trailers. I use them too in one of my EAs. Itâs however not part of the library. You have to code a trailer for yourself. Checking for prices âif thenâ and all that âŚ
Anyways, just to warn you: This is not a create and forget job. I watch my robots and the connection all the time. The connection is a critical part. I even coded a connection watchdog for the metatrader. So, I do it full time. I am a full time investor/coder. Not just trading. This is my business and not my part time hobby.
Today there was a problem while I was sleeping. When I woke up, the close trade signal did not work, because the connection was off for some seconds. Luckily, I was in profit and could close that manually. Profits out of a connection error, lol. But it could go the other way around, too.
Do you have your one billion dollars handy to pay for those secrets?
This is a rhetorical question.
Well, to be serious: I am sure if you learn and learn and learn (the bp school is a nice start) one day you might create your own strat and win or lose some money.
âYou could code everything with an EA. Even trailers. I use them too in one of my EAsâ
Ok whatâs this EA??
âAnyways, just to warn you: This is not a create and forget job. I watch my robots and the connection all the timeâ
hmmm thatâs stopped me in my tracks, my ADSL connection is flaky at best of times so thats
the end of this convo lol! i can;t risk that really can i, as i work out of town i can never
check the connection and if a few secs throws it off course then iâll be fâd lol!
so i suppose itâs back to the STOP LOSS or TRAILING STOP, am sure i read about it when i first started
but canât rem how it works?
I trade with a spreadbetting firm, not quite onto a Forex broker yet, for me the spreadbetting
platform is simple to use, i only use a few indicators, and the charts, trade options are so
simple you can;t go wrong, PLUS it;s TAX FREE yay haha!
oh and: mizuki - whats your trading strategy??? ur kidding right???
if u read my thread iâve listed all the books there i read, i learnt from those books and babypips school, simple as that , it;s all in there! i have no financial background, programming etc at all, even my interest payments on my mortgage confuse me haha lol! so if i can do so can youâŚ
anyway am out so have a good weekend BUCKS
Same to you!
EA = Expert Advisor = robot. Thats metatrader language.
Well, you could put your trading platform to a virtual server, but that is another story âŚ
Yes, SL will work. But not a trailer with metatrader. A trailing stop is not part of the library or part of the broker with the metatrader4. If the connection is lost, the robot is not able to change the SL settings. Your old SL is still valid, but it can not be changed if the connection is lost.
I happened upon this promising thread early this morning but about an hour in my eyebrows were raised so high they had joined my hairline!
A number of points:
A pro interbank trader would consider a year on year 30% growth reason to pop champagne corks. The reason is simple. His/ her investors are looking for a higher rate of return than traditional instruments. That is to say better than current interest rates on high yeild saving accounts or bonds. As a result they will be prepared to except a degree of risk. But to my knowledge no pro trader would in their wildest dreams be shooting for a 40% increase in account balance in a week??? Much less $1K to $1M in a year or two. Pro traders use fractions of a percentage point of balance and 2X, 4X leverage.
Ok lets throw caution to the wind. Your a retail trader with a $10k starting balance and can afford to lose the lot. Lets assume your risk tolerance is high (2-5% of account bal per trade) and you have a robust and proven trading strategy, then on your head be it! This get rich quick path is certainly well troddenâŚits your money right. But in my experiece, pro retail traders (poeple whoâs income is derived soley from FX trading) almost to a man/women, never exceed 1%. Personally, I trade 0.1% of balance per trade.
A 2% of balance trade might suit a high risk tolorance individual with a $10k balance account. But how might that individual trade after he/she has grown that account to $200-$500K? I think you will quickly find the formula will be that RISK will become inversely proportional to account size.
Pro traders wether interbank or retail will consider carefully not how much money they might make on any given trade, but how much they might lose!
EDIT: A 40% potential win or loss in a week on a balance of $500k is not remotely tempting!
That was a good one!
Let me tell you: 99.99999% of all people âinvestâ their money in saving accounts. What is their âreturnâ? Nothing! They pay if you include inflation.
Does that mean there are no people in this world who get more than 1% or 2% roi?
99.99999% of all people âinvestâ their work to make others rich while they go to their working place.
Does that mean there are no people in this world who donât go to work to make others rich?
How can that be that a smart golf player racks up billions and a smart trader and coder canât?
Your mind is your key!
I do not say I can make 40% a week. I would not say nobody canât, but thatâs out of my reach. But 1 million out of 1k is just 3 zeros. If you can make 1000% per year and that is definitely possible, then you can grow your account from 1k to 1 million in 3 years. Itâs just not possible if you believe what all others believe. Because you are your own worst enemy then. In fact, 95% or so of all trader ARE their own worst enemy. Thatâs why they lose. Right?
OP = original poster, somewhere a few posts back there is a link to his blog. I took a look. It looks interesting.
as for the usd/zar, youâre right I sold again. entry was at about 6.856 which is about where price is now. so even if I hadnât exited with a profit it would be at break even right now. Iâm just doing this pair for fun, every trade has been a winner so far, I know it canât continue.
A consistant 2% a week is realistic⌠allowing for wins V losses. The key is a robust and proven strat and excellent money management (realistic lot sizing re account balance). Let componding do the work of building your account not trade size.
hey Robert, good to see you.
Quite a thread huh? Because of the Excel you came up with back some time ago my goal is to average 2% a day but so far itâs more like 0.5 % per day or less but with our 2ma strat on multiple pairs Iâm using small lot size. If this kid thinks he can turn 1k into 1M in 8 months well good luck I just donât see it happeing.