Share The Beast (by sebring001) Quick Stats
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The Beast Discussion
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Member Since Oct 29, 2009 28 posts
Pietpatat
Feb 16 2011 at 18:37
Very nice equity curve. Do you run it on default settings?
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Member Since Oct 01, 2009 10 posts
sebring001
Feb 16 2011 at 20:07
Thanks Pietpatat. Please know that this is The Old Beast on default settings using the original 3 default pairs. The only I changed were the lot sizes and I only take primary trades(I used to take secondary). Lot sizes were .09 but I realizde I wasnt making good use of margin(only trading 3 pairs). I have increased them to .15 today.
Some people had this blow up on them but normally they are doing one or more of the following: trading too many pairs; using large lotsizes relative to account size; trading with insufficient account sizes; being plain old greedy. This things works fine as long as you are comfortable being in constant drawdown. |
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Member Since Oct 29, 2009 28 posts
Pietpatat
Feb 17 2011 at 23:57
Ok. May I ask why you aren't trading secondary trades anymore?
I'm currently also demo testing Steve's ea's. Running it on all pairs to see which pairs are profitable and which are not. And I hope to see some good results so I can put the profitable pairs on a live account with conservative settings. I also noticed the floating drawdown, which is kind of scary. Since beastie made 1% profit yesterday, but has 3% floating drawdown. I hope the drawdown stays under 10% floating DD and the account keeps growing. I have seen this on others people statement like your, so I have faith that the system will do his job. |
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Member Since Oct 01, 2009 10 posts
sebring001
Feb 18 2011 at 01:42
I don't take secondary trades because primary is just safer. They are your 'A' trades while secondary trades are 'B' trades and may add to your risk. Due to the recovery process being martingale(limited) I limit my pairs to just 3. Image if you traded 14 pairs and half went to L2 and one-third went to L3 and THEN you took secondary trades? You will quickly margin yourself.
So I use higher lotsize but since I only trade primary trades and use 3 currency I can EASILY know how much I might lose and my maximun drawdown. This is the way I define my risk and it is the ONLY thing we can control in forex. Feel free to experiment but do not go live for 6 months. If you are not comfortable with the DD then you may be trading too many pairs. With any trade, you should be able to sleep at night,if not, then you risk too much. |
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