To use chat, please login.
Back to contacts

AlonFx10/30Live (By Peter Harding )

The user has deleted this system.

AlonFx10/30Live Discussion

Ben Scoobert
forex_trader_[921]
Dec 28 2010 at 16:57
276 posts
I have to say how disappointed I am that you didn't have the sense to stop trading over xmas and new year.

I was just getting interested

Peter Harding (alonfx)
Jan 06 2011 at 16:52
37 posts
We have made changes to system on 4th January with result we have had 32 winners and 4 losers in last 36 trades
Some Changes include:
a) No more double trades (in same pair simultaneously)
b) Limit to number of simultaneous open trades
c) Manual trading only in US and Euro session, with Asia being automated with manual monitoring.
d) System Lock out during news

Leverage remains at 10:1 and we will recover the losses incurred at christmas sooner rather than later,

Bringing you a Brighter Future in Forex
n0mad
Jan 06 2011 at 21:37
9 posts

alonfx posted:
    We have made changes to system on 4th January with result we have had 32 winners and 4 losers in last 36 trades
Some Changes include:
a) No more double trades (in same pair simultaneously)
b) Limit to number of simultaneous open trades
c) Manual trading only in US and Euro session, with Asia being automated with manual monitoring.
d) System Lock out during news

Leverage remains at 10:1 and we will recover the losses incurred at christmas sooner rather than later,

Hi Peter,

could you please explain why you said leverage is at 10:1 yet my leverage is less? I have a balance of $1400 yet the size of each trade is 11.00 contracts. Shouldn't it be between 13 and 14?

Peter Harding (alonfx)
Jan 07 2011 at 08:47
37 posts
Hi,
Trade size is master, not indicative of your account,.
Gains will always be 1% and loss 3% on 10 TP and 30pips SL. So leverage is 10:1.

You will see this on your account, +1% or -3% per signal.

Bringing you a Brighter Future in Forex
SolarFX (forexma)
Jan 07 2011 at 09:24
1332 posts
Now I get what you mean.
Your trade size is always 10% of the balance.

"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
Peter Harding (alonfx)
Jan 07 2011 at 09:30
37 posts
X10 of the balance.
Balance is $2k, trade lot size is $20k

Bringing you a Brighter Future in Forex
Ben Scoobert
forex_trader_[921]
Jan 07 2011 at 10:20
276 posts
$1 per pip per $1000 of balance

$10 per winner, $30 per loser, for every $1000 in your account

n0mad
Jan 07 2011 at 10:30
9 posts
i understand all this, but none of this adds up for my account

i'll use the last trade as an example;
01.07.11 11:33 01.07.11 12:07 USDCHF Sell 0.10 0.96660 0.96260 0.96366 0.96260 10.6 11.01 34m 1.02%
 this is from my FXCBS trade history;
1534086 2011.01.07 12:09 balance from master #1534002 sell 11.00 12.58

my balance was $1433.84

so if this trade was 10 pips instead of 10.6 i should have received $14.34 i only got $12.58 which is 0.87% when is should have been a little over over 1%.

Ben Scoobert
forex_trader_[921]
Jan 07 2011 at 10:36
276 posts
by that logic, with a balance of $1400 the lot should be 0.14, maybe the broker they use only does .1 increments

on the flip side if it had been a loser you would have lost less :-)

n0mad
Jan 07 2011 at 10:54
9 posts
well i'll have to monitor that too but still, if we're being told every winner should net you 1% and each loser should cost 3% it doesn't seem to add up on that trade at least.

i have email admin@alonfx with a list of my last 20 trades or so and my balance hopefully they will look over it properly.

Peter Harding (alonfx)
Jan 07 2011 at 11:00
37 posts
Hi,
Your account has NOTHING to do with master lot size.
If you look on last 5-6 trades, you will see range of 0.87-1.1% gains.

If you nett it out, it will be very close to 1%.



Bringing you a Brighter Future in Forex
n0mad
Jan 07 2011 at 11:11
9 posts
Thanks Peter,

I did as you suggested and it all seem around the 1% some under some over.

thanks for your time.

gquint
Jan 07 2011 at 13:38
6 posts
Peter,

In an earlier post you mentioned trades would be locked out during news. That didn't happen today with the release of the US unemployment data at 8:30 AM EST. Your live account opened a trade about 1 minute after the announcement. Was that supposed to happen?

Gene

Peter Harding (alonfx)
Jan 07 2011 at 13:58
37 posts
Hi,
We locked it down 45min before, trade triggered 52min before.
It worked out well in end. (eurjpy)
Yes, we opened trades after news after we seen poor NFP we sold $US

Bringing you a Brighter Future in Forex
gquint
Jan 07 2011 at 17:09
6 posts

alonfx posted:
    Hi,
We locked it down 45min before, trade triggered 52min before.
It worked out well in end. (eurjpy)
Yes, we opened trades after news after we seen poor NFP we sold $US


Peter,

I would think an hour before and after news releases would be a more appropriate timeframe than what was used today. In fact, we had three winners and one loser in that one hour window before and after the release today. The results: Break even for those four trades during one of the most volatile times of the month.

People are still reeling from the Christmas sting and volatility during that timeframe was nothing compared to the volatility during the hour before and after the unemployment release figures each month. It just seems to be too risky...and I'm usually not adverse to risk. As for me, I will most likely turn off my tradecopier software one hour before and after the unemployment news release each month. The risk/reward during that time doesn't seem worth it.

    Gene

Peter Harding (alonfx)
Jan 07 2011 at 17:56
37 posts
Hi,
The losing trade was 1hr 10min post NFP. One hour before and one hour after NFP was 4 winners.


Bringing you a Brighter Future in Forex
swnke2
Jan 07 2011 at 18:03
8 posts
Peter,

As a subscriber to your PAMM account, I was obviously dispirited by the losses over the Christmas period. I have to comment however that since you revamped your trading methods as announced a few days ago, the performance has been nothing short of remarkable.

Congratulations to you and the team and I hope that the current performance continues.

Cheers,
Nick.

Peter Harding (alonfx)
Jan 08 2011 at 10:54
37 posts
Hi Nick,
What happened over Christmas can only describe as a tonic. Obviously very painful for investors at the time but in long run much better, It made us dissect and rebuild 10/30 operating structure for the better.
We have completely overhauled the system including trade logic, risk management and auto/manual execution timing. We have also added preventative drawdown measures. (stop trade functions)

Trade logic has only changed slightly, risk management has had major change, auto/manual execution has had major changes also.

The changes have been instrumental and we are very pleased with 5 losers from 45 trades since 4th January mods returning 30%*. (*450-150=300pips)

We look forward to a promising 2011.

Bringing you a Brighter Future in Forex
Peter Harding (alonfx)
Jan 08 2011 at 12:09
37 posts
Sorry it was 5 loser from 49. (440-150=290pips):29%

Still early Saturday morning😄

Bringing you a Brighter Future in Forex
temitope123
Jan 09 2011 at 20:01
106 posts
The changes you have made to your system seems to be yielding good result.

Please login to comment .