Dear HAMSTER TURBO subscibers, after 3 days trapped in a 30 pip range EURUSD finally made its move. The second consecutive margin stop out has happened and I am really devastated and speechless about it. This has never happened even in the worst backtest year of this EA before. I will be using a slightly smaller lot size from Monday in order to increase our SL tolerance from 60 to 80 pips. Also I will be moving our TP to break even on London opening (at 9 o'clock GMT+2 time) to avoid unecessary losses in this unstable market. Further adjustments will be made if needed as the time goes by. I will now add my remaining signal funds + back up funds once again and I will resume trading next week with the new 1/4 of all capital.
scalping a few pips with large SL always ends like this. For those that lost money - you need to understand RRR always has to be greater than 1 or its simply a matter of time before you lose everything...
eleanna74 posted: Dear HAMSTER TURBO subscibers, after 3 days trapped in a 30 pip range EURUSD finally made its move. The second consecutive margin stop out has happened and I am really devastated and speechless about it. This has never happened even in the worst backtest year of this EA before. I will be using a slightly smaller lot size from Monday in order to increase our SL tolerance from 60 to 80 pips. Also I will be moving our TP to break even on London opening (at 9 o'clock GMT+2 time) to avoid unecessary losses in this unstable market. Further adjustments will be made if needed as the time goes by. I will now add my remaining signal funds + back up funds once again and I will resume trading next week with the new 1/4 of all capital.
Thank you very much for your attention!
Eleni Anna Branou
I just want to share some short thoughts on this with you. Just becase I think it is sometimes good to have some different view on things. I hope it's Of course it is up to you if you think of those thoughts, or not :-) I know that you are literally flooded now with many comments from your subscribers, so I will also understand if you don't feel like reading everything and taking every comment seriously. I just feel somehow 'forced' to share them with you.
1. As far, as the SL and TP: going this way could probably prevent the very last losses (I'm sure you analyzed it thoroughly). For long run, it seems for me, however, that the profit to risk ratio would get worse. Already today, there is not so high profit, while one or two losses can be very huge and drawdown the whole account. By adjusting SL and TP as you think now, the situation would actually get worse.
2. just a general thought, since you answered my previous questions and explained that HamsterTurbo can make gains independent of market trends and profits from short-term price variations. I understood that and this is valid strategy. What I personally thins is a little bit contradictory to what you explained yourself are recent losses. They positions were opened for a long time (two days). In such case, the trades have much less to do with 'scalping' at calm Asian market, the trades are then definitely highly dependent on the overall market trend (which, however, as you say, the strategy ignores, since it is based on short-time market movements). I think this is quite a contradiction and this is one issues that some of the people do not understand.
I personally think, closing the trades based on combination of SL and keeping trades not longer open than X hours (or maybe you can think of something even more clever, which considers the dynamic of the curve within the short time window ;-)) is better and would be loyal to your own scalping strategy. Part of the scalping is either to take a profit or to take a loss within very first few hours (which in case of the recent losses would be actually be a factor less or even close to zero) than reaching a huge loss after reaching the SL after two days, and being dependent on the global market trend (which is not part of 'hamstering').
just my thoughts, maybe they will be of any help to you.
Thank you very much gammag for your very useful feedback. I also think that keeping scalping positions for hours or days is wrong, even though it worked smoothly for the past 6 months. That's why I will introduce the London opening break even function and I will interfere more actively in positions that are going past the middle day limit. The case of accepting a small loss, in order to avoid larger or disasterous losses is also I case I will consider more in the future. All these changes weren't needed until now and the EA was performing well in the previous market environment, but things have changed and I have to adapt if we want to move forward.
I have analyzed and tested that suggestion a lot thedlewis. For example in the past 6 months we reached the 30-35% drawdown limit 11 times, so if we had a 30-35% SL we would have 'suffered' 11 times a 30-35% loss and that wouldn't be better. I've made countless tests with many variations and this strategy works only as it is. I will be making adjustments to the lot size, SL tolerance and break even function to adapt to the changing tough and unstable market though.
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