Weekly Results from my System

[MoneyNVRSleeps]

Hey People.

Well, im getting ready to deposit here in a few weeks. Nothing huge, like $250

So, this week, I sat here, looked for trends using a method I hav devised, which im sure is not a new concept to some, but I made this for myself thru trail and error trying to make a EA…

Anyways, I use a slope direction trend line, but use 9 differant periods at the same time.

And also a indicator MarketPrice that i found.

And use Goldminer1 to trigger the trades, and a pretty good forecasting link that gives a general idea of whats going on,

I use the 30M chart to find current dominate trend, then make my trades using the 1M chart, with My EA I made.

My EA wil make a set amount of trades, so If I set it to make 10 trades, then turn off, it will do just that. I set the EA preferances to either Long OR short for the DOMINATE TREND.

If I see its going to retract, which I confirm by watching the slope balance, meaning, when it starts to flatten out, I turn off EA, and hopefully collect the final open trades, or close if the retractment looks large.

Then, I will make a manual trade, for the retractment, without a TP, and will close when goldminer1 indicates the turn.

If all trades were closed before retractment, I then turn EA back on, to trade the DOMINATE TREND again… But most of the time, I might have a few trades open before the retractment, but thru my indicators, and watching the flow, im confident the trend will continue, and I will collect. But I see those as lost pips…

I also have a money managment plan, by compounding profits.

Now, I have to retool this whole plan, using the current concept, but opening fewer trades.

Opening 2 trades, at my current lot size alocation, and riding it till the slope flattens out. Which Im going to do next week.

[U]OK, now, the numbers for the week.[/U]

[B]Account start balance[/B] = $250
[B]Account ending balance[/B] = $872.78
[B]Trades made[/B] = 357
[B]Trades lost[/B] = 70
[B]Profit made[/B] = $622.78
[B]Profit lost[/B] = $1,043
[B]Average profit per trade[/B] = $1.66
[B]Average lose[/B] = $14.90

Im new, so any advice is gratefully accepted

[Master_Tang]

If you lose your internet connection for some reason or another, that account will be gone in a heartbeat if price turns against you.

How DO you exit a bad trade? Manually? Or does your EA close it automatically?

No stops without a smart application of money management will bury you in a hurry, because you are WAY over leveraged for your account size.

In fact, if you are in the US, I’m pretty sure the 50:1 leverage maximum will ice you out of trading 2 full mini lots on $250.

Just some points to ponder.

[Sweet_Pip]

[U]OK, now, the numbers for the week.[/U]

[B]Account start balance[/B] = $250
[B]Account ending balance[/B] = $872.78
[B]Trades made[/B] = 357
[B]Trades lost[/B] = 70
[B]Profit made[/B] = $622.78
[B]Profit lost[/B] = $1,043
[B]Average profit per trade[/B] = $1.66
[B]Average lose[/B] = $14.90

Im new, so any advice is gratefully accepted

You are missing the # and $ of the winning trades. However, it can be deduced…

Total trades of 357 - 70 losing trades = #287 winning trades.
Profit of $622.78 + $1043 in losses = $1665.78 in wins

$1043 losses/70 trades = avg $14.90 loss/trade…correct
therefore $1665.78/287 trades = avg $5.80 profit/trade… where did you get $1.66 from?

[MoneyNVRSleeps]

Thanks for looking fellas,

Let me clear a few things up,

first off Master, I use wi-fi, but i know what your saying. Im always watching the market tho, so Im ontop of crazy swings. Im working on consistantcy, and I understand everything your saying.

Yes, in USA, and your right about the leverage, I will find a demo account i can run with 50:1 ratio…

Yes, the lots are streched, thats why its nessesary to be sure of the trade.

Mainly, alot of my loses, were, " playing the gut game" when I think i will get it cashed, but end up closing, again, being consistant to the rules is mandatory.

I did have a $100 lose, because I got side tracked by a phone call, and made the wrong trade, and walked away for a minute. Should of been $100 profit, but I made a boneheaded trade…

Sweet pip, that positive profit is $622, and 287 winning trades, so, accually I was wrong, its $2.16 profit per winning trade.

The loses, are loses, and cant be added into the Profit part.

The entry and exit part of the strat is golden, its just, find the need for consistantcy, and, its best to use this manually all together. Cause as we all know, not many EA’s are great anyways, but this EA works great for those longgggg trends, but then again, it makes more sense, to make 1 trade, and let it ride till the reverse is plausable…

OK, thanks for the input,

[Sweet_Pip]

Sweet pip, that positive profit is $622, and 287 winning trades, so, accually I was wrong, its $2.16 profit per winning trade.

The loses, are loses, and cant be added into the Profit part.

In order to have an overall profit of $622.78, then you had to have had $1665.78 in your 287 winning trades from which to deduct your $1,043 losses in 70 losing trades…no?

And that averages out to 5.80 profit per winning trade to 14.90 loss per losing trade with an 80% win rate.

Profit/Loss Ratio Definition

Either way…at face value it’s not a good profit/loss ratio however, the 80% win ratio (if consistent) does save it.

Overall profit/loss of all trades would be 622.78/357 = 1.74 avg profit per trade.

[MoneyNVRSleeps]

oooooooooooooooooooooooooook, i see…

Thanks for that info,

Yeah, the consistant part, key factor, lol

[elvisaaron]

Hey People.

Well, im getting ready to deposit here in a few weeks. Nothing huge, like $250

So, this week, I sat here, looked for trends using a method I hav devised, which im sure is not a new concept to some, but I made this for myself thru trail and error trying to make a EA…

Anyways, I use a slope direction trend line, but use 9 differant periods at the same time.

And also a indicator MarketPrice that i found.

And use Goldminer1 to trigger the trades, and a pretty good forecasting link that gives a general idea of whats going on,

I use the 30M chart to find current dominate trend, then make my trades using the 1M chart, with My EA I made.

My EA wil make a set amount of trades, so If I set it to make 10 trades, then turn off, it will do just that. I set the EA preferances to either Long OR short for the DOMINATE TREND.

If I see its going to retract, which I confirm by watching the slope balance, meaning, when it starts to flatten out, I turn off EA, and hopefully collect the final open trades, or close if the retractment looks large.

Then, I will make a manual trade, for the retractment, without a TP, and will close when goldminer1 indicates the turn.

If all trades were closed before retractment, I then turn EA back on, to trade the DOMINATE TREND again… But most of the time, I might have a few trades open before the retractment, but thru my indicators, and watching the flow, im confident the trend will continue, and I will collect. But I see those as lost pips…

I also have a money managment plan, by compounding profits.

Now, I have to retool this whole plan, using the current concept, but opening fewer trades.

Opening 2 trades, at my current lot size alocation, and riding it till the slope flattens out. Which Im going to do next week.

[U]OK, now, the numbers for the week.[/U]

[B]Account start balance[/B] = $250
[B]Account ending balance[/B] = $872.78
[B]Trades made[/B] = 357
[B]Trades lost[/B] = 70
[B]Profit made[/B] = $622.78
[B]Profit lost[/B] = $1,043
[B]Average profit per trade[/B] = $1.66
[B]Average lose[/B] = $14.90

Im new, so any advice is gratefully accepted

Hi,

can you show your detailed statement and if ever can you post your system ??
maybe we can try it at least on a demo account and check it.

Thanks