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Blessing v3.8 (By Gerald )

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Blessing v3.8 Discussion

Sergio M (beorn)
Oct 28 2010 at 18:39
39 posts
Indeed, I had 3 EP hits so far (USD/JPY, GBP/USD and EUR/CHF) and came very close to a couple more, in fact, earlier today I came very, very close to one on USD/CAD.
I apologize because my account can be misleading, all that gain in the account is mostly due to Forex Morning Trade. (I think I better write something in the description about it...)

And you can (and will) get different results using Blessing depending on the time you start trading a given pair, the set files you use, the size of your account, your broker, etc. It's just the way Blessing works...

Gerald, good luck with your account mate, it's looking great! Hope Megadroid bounces back to profit very soon.

b.

Gerald (gerald325i)
Oct 28 2010 at 19:34
159 posts
Thanks man, and you are 100% correct, no two Blessings will behave the same unless everything is done the same exact way, even then, there is no guarantee.

Take your profits while you can or the market will take them from you
Gerald (gerald325i)
Nov 02 2010 at 13:48
159 posts
Another error on my part, fat fingered starting lot from 0.07 to 0.7 on EURUSD...on the wrong side of the trade...cost me a week of trading.

Take your profits while you can or the market will take them from you
daCoops
Nov 04 2010 at 22:06
45 posts
Looks like GBPUSD is giving you a very rough time...

Gerald (gerald325i)
Nov 05 2010 at 07:53
159 posts
Indeed, I have 4 pairs stuck and all others on shutdown at the moment. This is the harshest storm yet, hopefully I can stay afloat!
The dollar is so freaking weak that Madonna speaking would make it go lower against all currencies.

Take your profits while you can or the market will take them from you
Gerald (gerald325i)
Nov 05 2010 at 14:19
159 posts
Man, $15K is hard to hold onto.
Look people, come, look at my progress or lack thereof and then go back to your trading, don't e-mail me or message me to ask me what happened. Look, this is risky business: sometimes you make $$ and sometimes you lose.

I had to cut USDGBP lose for fear of losing more, and 3 pairs are still dragging me down, BUT the consensus on those is still in my favor (long term) so as long as my margin holds I will keep them. Now go back to your own trading...

Take your profits while you can or the market will take them from you
daddyo
Nov 06 2010 at 14:43
1 posts
Gerald,

I'll like you to know that you've inspired many people out here (me included) into trading profitably, and even in this time of pain your upbeat, take-it-on-the chin attitude is a credit to your determination.

I believe you will succeed because ...you already have :)

Gerald (gerald325i)
Nov 07 2010 at 13:04
159 posts
Thanks, I needed words of encouragement. This past week made me rethink my strategy: I may play it much more safely and predictably and not so aggressive as in the past, but at least be able to sleep at night.
I'm thinking about reducing my pairs to just two: EURCHF and AUDNZD where the correlation is much less with less risk of getting the pairs stuck in the same direction as it happened this week. Also, AUDNZD trades sporadically and accurately, making less of a DD possibility and leaving more for EURCHF. This goes againt the mainstream thinking for B3 which says use 10 pairs with 10% PortionPC and let them run with EP's and all...If I would have done that, I would have had 4 EPs on Thursday/Fri and my margin would have dropped below margin levels for other pairs, making my account go to zero.
SO, having one constantly running pair should let it run with higher lots as well and be more predictable to match backtests.
So to recap:
1) EURCHF's old kneal's file with FMC=3, MM off.
2) AUDNZD from the forum, any aggressive pair that passes my backtests. MM=always off for me
3) Megadroid of course, like it or not.
This as soon as my margin returns to manageable levels. I'll keep you all posted.

Take your profits while you can or the market will take them from you
Sergio M (beorn)
Nov 07 2010 at 14:50
39 posts
Hi Gerald,

To be honest with you I have always had very mixed feelings about Blessing. The first time I read about it I dismissed it completely due its type of trading. Not a true Martingale, but a 'increase lot size to recover losses' type nonetheless.
I believe there are 2 ways of being successful trading: Either you have a good consistent profitable system, or you have a moderately good one combined with adequate money management.
I'm far from being an expert in Forex but I have a few years experience with money management and loss recovery systems are the quickest road to the poor house... Unless you have a good system AND you spread/manage your risk properly.

It was only after I read on the old Blessing topic on forex-tsd about people experimenting with 10 pairs that I took another look at Blessing and decided to give it a test.

I have accepted that Blessing will always hit EP, no matter the set file, the pair or the amount of backtesting you do. It may happen in a month, or a year or 10 years. If it can happen, it will. Unless your account has 6+ digits and you're running very low risk settings. But even then...

If you are going to use only 2 pairs (and Megadroid) I would suggest to you not to increase lot size by much (or at all). Those pairs have been running fine so far but one never knows.

Instead of reducing pairs, have you considered keeping all the pairs running but reducing lot size?

Please don't take this post in a wrong way, I don't mean to sound condescending or tell you what to do. I'm just offering you my point of view. You have far more experience than me as a trader and, well, it's your money after all. I truly want you to succeed, if for nothing else, to show me that I may be able to do the same myself.
I would also like to apologize if my choice of words is not the most adequate, I am not an English native speaker.

All the best,

b.

Gerald (gerald325i)
Nov 08 2010 at 06:12
159 posts
Hey, I wrote a long reply last night and not showing up.

Anyhow, I was saying beorn that you are right about the slight increase in lots, but stating that I have mixed emotions about the 1o pairs due to correlation and how EP would happen on multiple pairs, which is like having less pairs with bigger lots, but those additional pairs don't work as good as EURCHF or the like.

Waking up here in Ramstein :)

Take your profits while you can or the market will take them from you
Sergio M (beorn)
Nov 09 2010 at 22:25
39 posts
Hey Gerald,

I can see what you mean about correlation now :) All my USD pairs are hurting badly at the moment... On my way to my 3rd GBPUSD EP hit. Let's see what happens...
I don't feel confident intervening and close a few pairs. Besides, the point is to let Blessing handle everything on its own. I would really like to able to sleep at night :)

All the best,

b.

Gerald (gerald325i)
Nov 10 2010 at 07:28
159 posts
Beorn, as long as your margin holds then don't intervene, the problem is when the margin gets thin!

I have closes USDCHF today with a very small profit to free up margin. I closed USDJPY yesterday after a long time without the pair coming to TP.

So now I have to weather the storm of EURCHF which is at 50% DD on my whole account with margin at 240% which to me is very dangerous.

Take your profits while you can or the market will take them from you
Patience
Nov 19 2010 at 13:49
230 posts
Nice recovery 😎

daCoops
Nov 19 2010 at 17:31
45 posts
Fantastic, very pleased that it did correct itself and that you got some fresh trades back on track.

Hopefully you had your first CashBackForex payout as well - which would be some extra margin when ploughed back in.

I'm holding off the restart of my account until my finances settle down a little so will be back in the New Year...

Gerald (gerald325i)
Nov 20 2010 at 20:27
159 posts
Thank you both! Hopefully I can regain some of the lost ground and finish the month in the positive. I've dumped some of the low producing and correlationally redundant pairs.

And I got over $300 in cashback this month!!!!!!!!!!!!!!!!!!!! But that goes to my pocket :)

Take your profits while you can or the market will take them from you
Pietpatat
Nov 21 2010 at 17:18
29 posts
I never heard of Blessing but it looks like it does his job, I should get into it.

Some advice; dont trade Megadroid 1.3. They made some bad changes in this version. It is designed to scalp the quiet asian market, but for some reason they decided to let it trade an hour earlier in version 1.3, when the market is still pretty volatile.
I'm still trading version 1.26 with profit.

Gerald (gerald325i)
Nov 21 2010 at 21:32
159 posts
Pietpatat, and now you tell me?! I just turned it off, what a rip off...

Take your profits while you can or the market will take them from you
daCoops
Nov 26 2010 at 16:01
45 posts
Hi Gerald - I've been monitoring your account and keeping an eye on it from day 1 - any idea what happened here on the EURUSD at all?

Edgar Mora (emora70)
Nov 29 2010 at 02:01
31 posts
Gerald, Are you using the forum setfile for EURUSD?

daCoops
Apr 18 2011 at 12:19
45 posts
Hi Gerald - looking good on the account. That AUDNZD seems quite aggressive though - any particular reason why you're risking a much higher lot size compared to the other trades??

Have you started on the EV bandwagon yet as well ?

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