cateful's Posts - Page 4

JZ Prop Account in Trading Systems Dec 31, 2009 at 05:37

Thank you.I look at daily mainly. What do you mean by big losses? I always thought I controlled my loss quite good. Also on the growth chart you see periods of non-growth that's because the growth chart is calculated by balance not NAV. Holding time could be several days to several weeks to several months. If you look at my monthly stats, you will see I was long AUDUSD from September 09 to November 09, so that's about three months. In November I flipped and went short until the end of December so that's 2 months roughly. The truth is, it doesn't matter, timeframe is a subject t...

must have in Experienced Traders Dec 30, 2009 at 12:37

Personally I think reminiscences is the best, it talks about everything, greed, fear, emotions, everything, I've read it probably 5 times over.The Market Wizards series are great, too.And another one isn't about trading. It is a history book which I recommend because I believe you will get a lot out of it: Extraordinary Popular Delusions and the Madness of Crowds.

Free Trader in Trading Systems Dec 29, 2009 at 15:56

no problem, mate! You're almost there:) Keep up the good work!

Free Trader in Trading Systems Dec 29, 2009 at 15:20

oh I meant his average loser is bigger than average winner, and his worst trade is bigger than his best trade. The problem with this is he has to be right more than 50% of the time to make money. This is very hard. He simply needed to make his winners bigger and losers lighter, so that he can be right only 30% of the time and still make a lot of money. This becomes important when he hits a losing streak. There are a number of systems here on myfxbook that make money by taking many small wins and occasionally hits a big loser. I'm not a fan of this. Somewhere along the line they will hit a ...

Free Trader in Trading Systems Dec 29, 2009 at 14:43

good stuff. I would add that you may want to work on your winners.

If the open trades are locked... in General Dec 26, 2009 at 18:06

Also I do not believe there is a profitable EA available in the public realm. Markets usually have negative expectancy because the bid/offer spread. So statistically, if your winning trades = losing trades, you have to be right greater than 50% to break even, in the long run. That's about what the best trader at Tudor can produce. You also must overcome the volatility in randomness. Let's say your system has 70% win rate given win trades = losing trades. Giving certainties is 99.9%. N= log(1-.999)/ log(1-.70). solving this we get N=5.7. This number tells us that for every 1000 trades y...

fionas sofa in Trading Systems Dec 26, 2009 at 17:30

how far away was the price from the other brokers? If it's a few pips, it is acceptable. Like I said you should expect slippage and broker can quote you whatever price he wants to. If you don't want to deal on that you simply say "no deal". If he makes a mistake and quotes you 1 big figure away, it is your decision to take it or leave it. He can't break the trades if he lost money by quoting you the wrong price, either. It's a fair game. You can blame a broker for a bad fill in which case you just go find someone more competent. But you can't blame a broker for a ...

fionas sofa in Trading Systems Dec 26, 2009 at 16:07

First of all a broker could never "stop hunt" you. When you send an order in it goes straight to the execution desk for filling. What they have is a price and size. This immediately goes to the back office for processing. By the time you get your ticket back so many trades would have happened that they honestly don't know your position anymore. Stop hunting is just an illusion. Your broker isn't out there to "get you". You're scalping for crying out loud, you should expect slippage and requote. This happens in every market not just fx. I mean if you get an offer...

If the open trades are locked... in General Dec 26, 2009 at 15:01

I personally don't care if someone copies my trades, I make my return and you make yours, that's none of my business. There's plenty of money out there. I mean if someone asks me how I trade, I have no problem telling him that. See my props account's discussion page.I looked through all your systems listed here, if you're managing accounts please be very careful with your transaction costs.Well I guess what I want to say is, to each his own, but always be careful when you trade. If someday the EA stopped working, make sure you have the guts to turn it off just like you woul...

If the open trades are locked... in General Dec 26, 2009 at 09:29

I agree. Anyone who's interested in buying a profitable EA, here is a question you want to ask before you swipe your credit card: Would anyone sell you the goose that lays golden eggs? Maybe the eggs, but never the goose.Do your own work, put in a few years in this business and you have greater chance of seeing the light. Try read a lot. A LOT. Read the news, read the industry journals, read The Economists, read the well-known trading books, read the Fed reports, read the NFP numbers, read the prices, read everything you can get your hands on. And maybe then you will have this bulb lightin...

JZ Prop Account in Trading Systems Dec 24, 2009 at 19:25

thanks!It would still be a loss, amid a smaller one. It would be in the high single digits instead of a double digit loss.

JZ Prop Account in Trading Systems Dec 23, 2009 at 17:34

You can see the date & time in the history page, it is public.I don't think an indicator/EA could do the same thing. My trading is discretionary and a lot of it are based on gut feeling and some times I would form an idea from reading. For example, I entered short AUD in mid November because I was looking for a break. And the reason I was looking for a break was because I thought there was going to be some portfolio adjustments as the year end nears. With the market going up all year 2009 it made sense for traders to take off some risk and secure a good bonus for the year. I mean if th...

JZ Prop Account in Trading Systems Dec 23, 2009 at 16:42

No technical indicator really. I look at the chart maybe once a week and before a trade when I have crystallized an idea. Mostly I just look at the prices and read the news.

JZ Prop Account in Trading Systems Dec 23, 2009 at 09:17

BTW this is not an EA so do not ask for it. Every trade is executed manually and with a lot of thought and work behind it.

admiral in Trading Systems Dec 22, 2009 at 15:40

are you a member? do you trade on the floor? I heard the seats are now going for $1 million. how much are you paying for clearing? on globex gold the minimum is one tick but what he trades at his broker is cash gold, and it's quoted by the full price. my broker is giving me 1083.23/58 right now so the spread is about 3 ticks, or 30 pips in fx terms. Theoretically the minimum change would be 1 cent, but you know.

JZ Prop Account in Trading Systems Dec 22, 2009 at 10:22

There was a rather large down month in July 2009. This is because I made a withdraw at the beginning of the month and did not reduce my trading position accordingly. It was of course a mistake on my part and I shall try to avoid it in the future. also please note the largest win/loss pips are from Gold trade so they are REALLY large.

Dragon EA in Trading Systems Dec 21, 2009 at 17:59

exactly. We really need to take the time and dig on the statistics.What is this system offering? 500+% in less than a month? Do you think this is realistic? What is the maximum drawdown? How much is the transaction cost? Can the "EA" make money during different market environment? What is the risk? Ask these questions before you pay hundreds of dollars to get a program that probably has less than 100 lines of code.

admiral in Trading Systems Dec 21, 2009 at 17:48

from your average win/loss i would conclude you're opening positions in both directions and closing winning trades only. show your open trades please.

Account History in Suggestion Box Dec 21, 2009 at 11:34

Regarding my post above #2,I see that in the stats page Total short trades+total long trades != Total trades.I had 236 long trades, 248 short trades in the selected time frame. but my total trade for the same time frame was shown as 1838, in which winning trade was 866 and losing trade 972 with a win ratio of 47%. I believe 47% is about the right figure, also my average win is about two times my average loss, so this part of the calculation was correct. But my absolute win/loss pip figure should be a lot higher than the stats page showed which was 68.24/-35.95. It should be in the tripe digits...

Account History in Suggestion Box Dec 21, 2009 at 11:26

Nice work on the new features!However I'd like to report some bugs.1. The drawdown stat is not updated with the rest of the stats when a custom time frame is selected.2. The system calculates the total number of trades wrong. When I first open the portfolio page it shows I had 600+ trades. When I change the time frame to a shorter period it shows 1400+ trades. When I change the time frame again it goes to 2000+. There must be something wrong. Also as a result the average win/loss pips stats are calculated incorrectly.

All Quotes
AUDUSD	0.65232	USDCHF	0.91305
EURJPY	167.271	EURCHF	0.97901
EURGBP	0.85764	GBPJPY	195.007
EURUSD	1.0722	GBPUSD	1.24996
USDJPY	156.006	USDCAD	1.36557

EURUSD	1.0722	GBPUSD	1.24996
USDJPY	156.006	USDCAD	1.36557

Posts by cateful