Always!!!
Okay peeps./ā¦
Opened new account and created a simple strategy (it may well have no edge but that is what demo trading
is for: testing) based on what I have been doing but more clearly defined according to what I can achieve manually.
TradingStrategy(USDTRY)FebtoAug2017.pdf (53.9 KB)
Doing this every day will help me with having a consistent approach - whether it will be consistently good or bad
it remains to be seen, but at least I will have something that keeps me accountable to myself.
Cheers.
PS: I am also journalling trades (like Bob had suggested (and Manxx, and everybody else)) using
an app called Trading Diary, which I had purchased a couple of years ago but never really usedā¦
It allows you to add screenshots of the trades, so that you can also review the trade data visually
as well as through the usual data.
By the way, I trialled a similar system from August to November 2013 called āSeven Majorsā, as I recorded here:
http://forums.babypips.com/forextown/56880-testing-new-system.html?highlight=Seven+Majors+system
Some forum members gave it a thumbs down and I myself at the time became discouraged with it
for no reason other than self-doubt too early onā¦ Let us hope that this time I will be more focused and give it enough time to truly prove whether it is any good over a long enough sample period.
Thanks everyone.
I donāt disagree.
Looking at the funded accountsā scaling-plan, I find it [I][U]very[/U][/I] hard to see any significant advantage of the ā$150k Combineā over the ā$50k Combineā.
I do know two people who each successfully got started, with some trading skills but no capital worth talking about, by taking the ā$50k Combineā, which they both passed within a month at a cost of only $165.
Cāmon lexy, youāre a girl, you can say it, size does matter. Iāve learnt to enter small, get on the winning side of a trade and then scale in specializing on the EU. Probably not the best way but it works for me. I was able to duplicate this methodology on the $150K demo but not the $50K. Drawdown and position size failed me.
I think this was my greatest failing. I reckon with a bit of practice I could happily transfer across to futures but it would mean abandoning forex cfdās in my case - ie Iām time poor. Best I do what I do best. Learnt that lesson in the past.
Thats $165US. In AU thats $220. Thats my add a bit each month. My account grows more because I add a bit that what I earn from profit. Probably be that way for a few years ahead. But then for us armchair speculators itās the only way to live the dream one day 
Yes, indeed ā¦ and a good technique, too, of course. But not one thatās amenable to the constraints of a ā$50k Combineā, I do see. Yes, this is apparently an instance where size matters. 
Hey you two, no funny business on my thread haha
Hello peeps!
The stats so far:
Total net proft: -161.98 (Ā£)
Gross profit: 368.55 (Ā£)
Gross loss: -530.53 (Ā£)
Profit factor: 0.69
Total trades: 57
Winning trades: 19
Losing trades: 38
Percent profitable: 33%
Largest winning trade: 41.53 (Ā£)
Largest losing trade: -34.54 (Ā£)
Average winning trade: 19.4 (Ā£)
Average losing trade: -13.96 (Ā£)
Maximum consecutive wins: 3
Maximum consecutive losses: 6
Average consecutive wins: 1
Average consecutive losses: 0
Updated strategy (no change in strategy aims, just a refinement of one or two points previously left undefined):
TradingStrategy(USDTRY)FebtoAug2017.pdf (53.5 KB)
Hello peeps!
I am just posting my amended strategy, prompted by a realisation that my 3:1 R/R ratio
with the given entry parameters is too ambitious. I am three months into a six-month testing
period but the evidence is overwhelming, as written in the document in red font, against continuing
with the initial R/R ratio.
The gains should have outstripped the losses, which they do sometimes but there are statistically
few trades that hit the full target, therefore the majority of the time they missed and reversed,
and the stops, however small, ended up compiling a net loss for the account overall.
I now have three months to implement the small modifications and gather data to see if this
improves the profitability ratio.
Thank you
and HAPPY TRADING!
TradingStrategy(USDTRY)FebtoAug2017.pdf (69.6 KB)
Hello Peeps,
further to recent experiences I added a few more sub-rules to my amended strategy,
as attached.
I will publish my results again once I see a shift (either a continuation in the same
direction or a reversal).
Thank you for āwatchingā!
Happy Trading
TradingStrategy(USDTRY)FebtoAug2017.pdf (71.8 KB)
Hello peeps,
the changes I made have helped with limiting losses thus far,
and I have made further changes to the system as I have learnt
more about trading this pair.
At the moment the profit factor is 0.75% so there is work ahead -
nothing is for certain until that profit factor improves to at least 1.00.
TradingStrategy(USDTRY)FebtoAug2017.pdf (73.1 KB)
Sounds good! Keep goingā¦
Thank you, Manxx! In the manual, part-time world of mine it would be difficult to trade more than one thing, so instead of diversification I have to go for specialisationā¦ Anyway, the proof is in the P/L
Exactly! I think there is a lot of value in concentrating on one product and learning it inside out. Maybe once one is conquered it is fine to expand onto other things. Isnt that the case with musical instruments? That there is always one main one that is always no.1- even when one can play many?
Precisely!
Well, wellā¦ That account has been through a lot more changes since my last post, one whole year ago!
I have just managed to get all the figures together neatly into a chart showing the balance curve since starting this demo account with FXCM in February 2017:
Since the last post on this thread I noticed that the account was moving too slowly, so I started experimenting with
various tradesā¦ Eventually I traded too big and brought the account down from a high of around 58k to about 10.7k; then, I started reconstructing the losses and am now around 32k.
What has worked in rebuilding the account?
- longer trades encompassing 1000s of pips;
- incorporating carry trade elements to accrue substantial amounts of rollover over time;
- taking maximum one or two trades at a time;
- managing drawdown periods actively.
The journey continues.
@ropunzel @_bob @MrDE @eddieb @anon46773462 @peterma @SimonTemplar @PipNRoll @Pipstradamus @emeraldorc
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