The Legend of The Gambler - page 12

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Chumps Beware.

My index finger will be stronger and faster after long hours on this baby.

Gears of War II is out.

Run and Hide. Now.

your A goodbye!

I'm having my trading buttons mapped to the game controller. Muahaha.

 
Walander:
Make sure you buy screen straps! Have it so you can lie down and trade!

Not a problem. I'm having the screen bolted directly into my trading terminal in my office.

 

I'm reading another forum, and saw a thread about trading the box. I got a chuckle because people are claiming to have originated the system. DIBS or whatever you want to call it.

Obviously, that system has been used in the equities and futures market for a long time...we are talking about decades. The old timers are always trading the box and the gaps, those are the staples of their day.

And it is also very similar to Mark Fisher's book, The Logical Trader, applying his ACD method to the markets. He basically uses a pivot range as his box.

I may do something similar in my next project because it is a tried and true method that has worked for a very long time. The key is trade management after your entry and consistency in applying the method.

 

It's quiet today. I've been watching the Swissy bounce up and down for the past 4 hours between 1.2122 and 1.2089. So I just decided to go in, and see if I can get some of that range before the London open.

No indicators. Just a naked chart. Using the old eye balls.

Just scalped a quick 19 pips on the Swissy in this consolidation range. (Not sure if it is even considered a scalp since it took 2 hrs of being in the trade.)

If the Swissy moves back up to the 1.2115 range before the London open (in 1 hr), I will short it again.

 

Back shorting the Swissy again at 1.2121. (30 minutes from London open)

Hmmm...this one is going to be close, maybe I shouldn't have opened this one so close to the the open.

Update: Closed the Swissy for 5 pips gain. (5 minute before London open)

 

The Tortoise Account is struggling. It is not as safe as I had thought.

Hmmm...it is -$150 in open drawdowns, which brings it way below my original stake. I really need to re-evaluate how I can control the drawdowns. Perhaps, I need to add another strategy to this account to even out the fluctuations.

I have a strategy in mind, but it is not in code. It only trades once or twice a day with high RR ratio.

 

I got a few PMs asking about my strategies. And I guess I'll just respond here to prevent other PM's of the same nature in the future.

First of all:

I am not a role model.

1) At one point this year, I have lost 40%+ of my account.

2) I also lost my whole year's profit within a week.

3) I've had more than 11 consecutive losses.

4) My drawdowns are very large relative to my account.

5) I don't trade with a set stop.

6) My bet size is probably too risky.

All of this is trying to find the trend.

I run multiple strategies, but my main strategy incorporates a lot of discipline that I've learned through the years and after many failures. It is very simple logic, the main indicating components are based on moving averages. So by its very nature, it loves trends and does badly on ranges. And that's about as much I want to say about that. Of course, I have to put a drop of my snake oil potion into the mix to become successful.

Theoretically, 2 moving averages cross each other, a trader can place a bet in the direction of the cross. If it crosses back, you close out. If it continues, you hold on for dear life hoping it is a big trend. There should be some filters and good times to trade. Most traders fail because they blindly apply the method, they don't take into consideration at all of support and resistance, and that is a mistake.Of course, this is a very simplified view of what I'm doing, but it is the same principle. If a trader can stop trying to average down or revenge trade, and trade on the higher timeframes, then they have a future with this kind of strategy.

But like any other strategy, the heart of its profitability is good trade management. I cut my losses early, and try to hold onto winners. This is where Kenny Rogers had the wisdom, "gotta know when to hold them, know when to fold." That's about it. Statistically, I'm just picking 50% correct, but I use my RR ratio to become profitable. And I also have 11 consecutive losses just last week, so it is about being able to keep placing trades even though it doesn't look good. And emotionally, one needs to be able to let winners run, if you cut winners short, then you have no future with trend following.

Then you throw in my aggressive bet size, which is probably too large for my account, and you see these exaggerated equity movements. I don't consider myself making too many pips. I just throw some size behind my trades, that's all.

And this post is not an invitation to discuss the inner workings of my strategy, it just gives the curious mind of the simplicity of trend following.

I also have other strategies that I develop all the time, some are profitable, most are not. And many others where I try to emulate other traders' public strategies. I trade all kinds of strategy, from basket trading to grid trading. But I always keep the good trade management and RR ratio in place. I follow the money, I know what is BS and what isn't from my experience.

Every trader is different, and the strategy must fit the trader. An impatient trader cannot trade on the higher TF, whereas a patient trader cannot deal with the noise of lower TF.

 

BTW, I have 15 demos running simultaneously.

And I am always tinkering with settings and iterations in my "office".

There are many talented coders like mladen, Igorad, Codersguru (and many others in various forums) that are generous enough to release free public tools to play with. I am very grateful to even get to see how they do it. Obviously, I don't know what most of those tools do or how to use them properly.

So I just write some simple EA to try to trade it, and put it on a demo. I just keep it very simple. Most of the time, it is a big waste of time and effort. But you just never know until you try creating something new and different. And even if the EA is a complete loser, I can learn something from it, maybe like what NOT to do...so I don't repeat the mistake.

My only advantage is that I'm a trader first, and coder second. Although being a decent coder or having the help of one is very beneficial.

 

Forex day trading system

This compare trade will states the improvement in our forex trading in the forex.And their is chance to share the points in the forex from forums.So we can learn about forex managed accounts from a professional money manager during our free from forums..

 

hi

hi KR what system do u use now ?

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