Envy v3 -> v3.3, Ultra mode from Jan. '13 Discussion

This system was FE v3.0.21 Power Long cycles only from early summer 2012 to January 15, 2013. During this period the system returned approximately 214% return. The funds were moved on January 16, 2013 to:

https://www.myfxbook.com/members/ultracat/envy-v3021-power-long/459751

because that new account has no swaps (this original account did have swaps). Envy longs do better without swaps as positions can be held for days/weeks even.

From January 16, 2013 a small deposit was left in this original account and the mode has been switched to Ultra. Ultra mode is running only on the following pairs: EURUSD, GBPUSD, and USDCAD.

Did you ever find you had to intervene with the power long cycles? eg if it reached a full basket?

Yes, for sure. I do not trade EURJPY or USDJPY at all for example, that's a manual intervention. Other than that, if you look at the chart back in the summer (August) there is a huge dip. A lot of people lost their accounts there.

My manual intervention I do whenever there is ever a level 12+ basket is simply FATP or Chicken Out **all** other pairs immediately and ride it out. I trade at 0.67 risk so that extra margin plus closing out all other pairs is all I did to save my account. I check my account once per day to get a read on the levels, but I only have to actually intervene maybe 3-4 times a year.

That's for Power Long mode ( I assume that's what you are asking about).

If you are asking about Ultra mode I just switched to, there is a LOT more monitoring manual intervention. For example there is CAD news this week so I just turned USD/CAD off after Monday. I probably won't turn it back on again until next week since Fridays are not traded with Shorts anyway. If you don't then I would say prepare for a margin call. Ultra mode seems to margin call about once a month or so.

Yes it was for Power long mode.
I was running it with short cycles prior to the end of year holiday period. Had to manually intervene about once or twice a month (usually looking to Chicken out on a slight retrace once it reached level 12 - which meant watching it regularly!). I FATP'd before holiday season but ended up with a USDJPY basket all the way through to Level 14 basket and couldnt open a level 15 as the account had reached its 100 microlot limit (XE Markets). Besides, I dont think it would have handled another level as it reached 79% drawdown and used 109% margin.
After all the intervention I figure that I would have made a similar gain trading at lower risk without the added stress!

I might try your method. It makes sense. usually the pair would retrace not long after I chickened out... so makes sense to try and hang in there. Thanks for sharing.
But no more short cycles for now.

How long do you think you will stay out of the JPY pairs?

I will stay out indefinitely until the economic and political situation in Japan changes. 1/4 of their national budget every cycle is dedicated JUST to making interest payments on their debt. They make the Eurozone look like competent financial managers, and that's saying something!

https://www.spiegel.de/international/world/massive-japanese-sovereign-debt-could-become-global-problem-a-875641.html

Interesting reading! EURJPY and USDJPY have caused me some grief.

i was just thinking... 0.67 risk seems an odd number... any reason behind it? why not just 0.5 risk?

2/3 = 0.666666666666666666666666666 that's all. so 2/3 trading, 1/3 in reserve. I know people who trade it safely at 0.8 risk (so a 20% reserve) but I wanted to be a bit more conservative. 50/50 is the vendor's recommendation, sort of.

not so random then :)
I might try one account at 0.8 and one at 0.67 and compare.

Ultracat and Julian;

I would appreciate it if you could throw out a comment if you see news events that are going to affect how you trade or what you do. I will do the same. It would be an interesting exercise to know when you are intervening too.