hello, I am very interessed on your systems. 1 questions please. Wht you do when the basket ruinning wrong directon for long time about 500pips and more? you have stop loss or hedge? greetngs from austria send loui
I have just finished my 4 month trade. (aud / usd) - LONG. For 15 years this is my second longest trade and the covid-19 crisis is my worst experience, I survived but a few of my classmates from the school of traders went bankrupt (170 k USD or 20,000 k USD - it's terrible they start from the beginning I think)
I see your trade eurchf getting closer to closing, I believe it will happen within a week ....
I wonder whether or not to remove eur / chf from moic trades because last year I kept trades on eurchf for over 6 months and ended up losing 80 k USD. statistics show that eurchf does not bring me too much income (and in addition swap pay)
The future will be different from the past. That is why I don't even do back-testing so no I will continue to trade EURCHF. The next war is always different so there is no point in planning for the last war. The SWAPS on EURCHF are affordable it's the exotic pairs that have expensive SWAPS.
**Sent you a message, I'll post it here as well incase someone may have the same question.**
Hope all is well, I wanted to ask you if it's ok to copy either Blackwave California or Australia over at Signal Start are they FIFO compliant? I am from the U.S. and we only can get 50:1 leverage and have to follow FIFO rules.
The strategy is a manual grid strategy and it follows my skeptical thinking so that I want to buy when markets get too emotionally downbeat about a currency pair and I want to sell into optimisim about a currency pair. This is counter-intuituve and goes against any trading course I've seen which tells us to 'go with the trend'. While it has traded exotic and EM pairs profitably in the past it only trades major and minor forex pairs now to reduce the cost of SWAPS and the inherent political/geographic/economic uncertainty around many exotic/EM pairs.
When markets are overbought or close to overbought trades are opened counter-trend. When profit targets are hit trades are closed.If the market continues to move against the initial position then a second trade is opened based on candlestick price action and how the market is trading/pending news etc. Up to 12 positions maybe opened for each of two pairs so worst case scenario 24 trades though this has never happened the account is modelled to cope with this.
When markets are oversold or close to oversold trades are opened counter-trend. When profit targets are hit trades are closed. If the market continues to move against the initial position then a second trade is opened based on candlestick price action and how the market is trading/pending news etc. Up to 12 positions may be opened again for up to two pairs.
Risk control is achieved through position sizing. Position sizing MUST be the most important feature of the strategy because there is no hard stop loss and no hedging. People will often happily accept extraordinary profits and only query the strategy when they experience a stressful drawdown in their own account even while the master account remains quite safe. This is because they have failed to understand how crucial position sizing is for the strategy. Indeed when you have finished reading the strategy I suggest you read this paragraph one more time because it is the most important.
Following on from position size there is NO HARD STOP LOSS. There is a SOFT one which is market dependent and as follows;
This strategy has produced excellent profits since 2015 and is now one of the oldest strategies on most copy trading platforms. It is the inspiration for three MAM accounts managing $3m of other peoples money. I never place trades in client accounts that I do not wish to place in my own accounts too and as at June 2019 my own commitment to this strategy across all three risk levels is $190k.
These are the basics. To give any more information would be to reduce my flexibility and take away the major advantage of a manual strategy and make it effectively automated. As a former stockbroker I like to watch all markets at once and get a sense of what's going on rather than put blind faith in back-testing which in the end only tests the past. Links below to Blackwave Money Accounts which demonstrates my personal commitment to this strategy.
harrymartinez posted: As there is no guarantee in the market, you never know what will happen next. What made you win in the past may make you lose in the future.
Risk control is achieved through position sizing. Position sizing MUST be the most important feature of the strategy because there is no hard stop loss and no hedging. People will often happily accept extraordinary profits and only query the strategy when they experience a stressful drawdown in their own account even while the master account remains quite safe. This is because they have failed to understand how crucial position sizing is for the strategy.
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