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  • #16
    EricB, me and sure most of us won't agree to that, if lot size is small why not make profit while waiting for this trade to close
    If you like holding and waiting with no activity then I suggest following fxamp :-P

    Sent from my GT-N7000 using Tapatalk 4

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    • #17
      So let yourself have 7 trades open at once and you continue to add more and more positions that are constantly losing. mmmmmmmmmmmmm NO


      USDCHF Looks to might have some back up an possible to return to Weekly resistance 2 level @ 0.91482 or the Monthly pivot @ 0.91758 Possible. I did how ever just closed 1 of those open positions #1194744 because I know for fact it's going to return higher. So I better take Profit where I can... First day trading with this Provider, and the add on trades were not supportive.
      .

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      • #18
        Is there an option for disliking comments?

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        • #19
          Originally posted by EricB View Post
          So let yourself have 7 trades open at once and you continue to add more and more positions that are constantly losing. mmmmmmmmmmmmm NO


          USDCHF Looks to might have some back up an possible to return to Weekly resistance 2 level @ 0.91482 or the Monthly pivot @ 0.91758 Possible. I did how ever just closed 1 of those open positions #1194744 because I know for fact it's going to return higher. So I better take Profit where I can... First day trading with this Provider, and the add on trades were not supportive.
          .
          hmmmmn i have been trading the same way for the last 6 months live and previously few months demo. Its been working Eric. And i respect your views. and they are your views. i follow my trading. I am not saying i will win for sure. Wins or losses i will take as they come. But this is the strategy. And its working for me. So i will stick to it
          Last edited by SmartTrader; 10-12-2013, 06:43 AM.
          Trade the market, not the trader

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          • #20
            Originally posted by SmartTrader View Post
            hi Zoli, no the maximum for the account is not 35%. It was initially for one week period, after that i changed the risk in two ways. Reducing the lot sizes by half and reducing the no of pairs traded by half. So the risk is reduced a lot. Consider this account risk as 20% of the account balance and trade accordingly.

            For your second question

            There is a certain level that my system thinks the opened trades makes no sense. this happens when the system confirms the trend is changed. so it closes the trades in loss. This system is not martingale and does not wait till it blows out or profit. There are money management EAs that are monitoring the account for maximum profit or DD.
            You say you don't use martingale. I observe that you add to positions as they move against you (currently 4-5 deep on USDCHF) . Perhaps I don't have a good understanding of the term martingale... I thought it was precisely that.

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            • #21
              Originally posted by Okda View Post
              EricB, me and sure most of us won't agree to that, if lot size is small why not make profit while waiting for this trade to close
              If you like holding and waiting with no activity then I suggest following fxamp :-P

              Sent from my GT-N7000 using Tapatalk 4
              Eric, I have not decided if I like ST's signal or not. I don't think 6 months history is enough to form an opinion. But his trading style seems consistent so far. I don't understand how you looked at his 6 months history, and were then surprised at his trading style... Also hard to understand why you subscribe to signals at all since you , once subscribed, seem to be an expert on how they should trade.

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              • #22
                Originally posted by jprize View Post
                You say you don't use martingale. I observe that you add to positions as they move against you (currently 4-5 deep on USDCHF) . Perhaps I don't have a good understanding of the term martingale... I thought it was precisely that.
                Adding positions is not martingale jprize, i will tell you one example

                have you ever heard RSI positive/negative divergence? or MACD divergence?

                Let me explain

                RSI is the most popular indicator. Traders enter a buy trade when RSI moves below 30 line(over sold territory) and moves back above the 30 line. They keep the SL at the recent low, but when the price moves below the SL, and the RSI is not moving below the previous RSI low, they do not close the trade. Instead they enter one more trade when RSI moves back up above 30. This is called positive divergence on RSI. They enter one more trade, if the same thing happens again. Does that mean they are doing martingale? this strategy is followed by a lot of traders and even the bigger guys. I am doing the same thing except that i am using my custom indicator. These guys add more trades because they think that RSI is still in bullish mode and they will not close the trades unless the RSI comes below the previous level(the first level). I am doing the same thing, i am entering more trades because my indicators still confirms the trend. i close the trades in loss, if the my indicators show that the trend changed.

                Martingale on the other hand never closes a basket of trades in loss. It will close the trades in profit or blow the account.

                . I hope i have clarified your doubts.
                Last edited by SmartTrader; 10-12-2013, 04:06 PM.
                Trade the market, not the trader

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                • #23
                  Your account summary looks good you don't stay in trades more than 1 week it looks like. but I won't accept any of your trades going over -80 pips period.


                  I respect the fact you are claiming to stick to your trading rules and as of now your trades aren't over my -pip count tolerance on my account. HOW EVER decisions to stay as a sub or not will be determined by your pip count on these trades. If I get stopped out of these trades using my STOP LOSS or you exiting them while being negative on the trade I'm not going to be happy.

                  There's no reason for any trade to exceed -100 pips regardless of what the strategy is, that's my opinion. When you are not making any profits you're losing money. When your trades are losing more than -90pips it shows how much you know about the market. As I have stated before to many Sometimes the market gets the best of us. Just don't let it happen to often.

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                  • #24
                    Originally posted by EricB View Post
                    Your account summary looks good you don't stay in trades more than 1 week it looks like. but I won't accept any of your trades going over -80 pips period.


                    I respect the fact you are claiming to stick to your trading rules and as of now your trades aren't over my -pip count tolerance on my account. HOW EVER decisions to stay as a sub or not will be determined by your pip count on these trades. If I get stopped out of these trades using my STOP LOSS or you exiting them while being negative on the trade I'm not going to be happy.

                    There's no reason for any trade to exceed -100 pips regardless of what the strategy is, that's my opinion. When you are not making any profits you're losing money. When your trades are losing more than -90pips it shows how much you know about the market. As I have stated before to many Sometimes the market gets the best of us. Just don't let it happen to often.
                    a 100 pip DD on my first trade gives me 1% risk and it will very less for the next subsequent trades. its not the pips that you should count, but the % of DD. if someone opens a standard lot on a 1000$ account and give you 10 pip DD, you know what its worth in my account? its equal to 1000 pips DD. Now tell me which one do you prefer? i open a 0.01 lot for a 1000$ account, and even the 100 pip DD gives me 1% DD on the account.

                    Anyways i am going to be honest. There were occasions that few trades gives -100 pip loss, and you call that i am wrong in market direction. Hedge fund traders keep their SL more than 200 pips. It all depends on what time frame you are trading and what lot size you are opening, not on the pips. Anyhow as i already said i am honest with you. I do get 80 or 100 pips DD in my trading. Subscribing to me or not is solely your decision and i respect your decision. You are not comfortable in seeing negative pips in your account. After all you are the owner of your money

                    Thanks for your patience and interest(or no interest ) in my method. Some day you will be convinced
                    Trade the market, not the trader

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                    • #25
                      Originally posted by jprize View Post
                      You say you don't use martingale. I observe that you add to positions as they move against you (currently 4-5 deep on USDCHF) . Perhaps I don't have a good understanding of the term martingale... I thought it was precisely that.
                      Actually this is just like MARTINGALE Only Difference is it's backwards MARTINGALE.

                      Originally Martingale is adding positions with HIGHER Lot size as it goes against you.
                      SMART T Martingale is adding positions with LOWER Lot size as it goes against you.

                      Same concept just backwards with Lot size

                      Martingale is a known risk taking gamble for some that use it with a strategy using indicators or known past knowledge.. HOW EVER if these current trades Take some profit it will prove his martingale works this time around. Only his trading rules if obeyed will provide profits I assume without knowing his strategy. If Smart T strategy has worked in the past and he's obeyed the strategy rules. I'm sure we will see some profits.

                      Martingale (probability theory) - Wikipedia, the free encyclopedia
                      Last edited by EricB; 10-13-2013, 03:19 AM.

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                      • #26
                        If you call adding positions is martingale, you can call this as martingale system. That way a lot of strategies are martingales As far as i know, martingale system will always be in trade. My system waits for weeks to enter in to a trade. Also according to me martingale never closes in loss. its either profit or blow the account. These things are not there in my system. anyways. Not here to oppose your views. Everyone has a way of understanding things. There is no need for everyone to understand the same thing in the same way. Thanks.
                        Last edited by SmartTrader; 10-13-2013, 07:01 AM.
                        Trade the market, not the trader

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                        • #27
                          Dear SmartTrader!

                          There are two usdchf trades just were closed in red. These trades were about +60pips in green last day. Why didn't you put a breakeven SL at least? I think gaining about 25-30 pips the SL needs to be moved to breakeven.

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                          • #28
                            Originally posted by Zoli71 View Post
                            Dear SmartTrader!

                            There are two usdchf trades just were closed in red. These trades were about +60pips in green last day. Why didn't you put a breakeven SL at least? I think gaining about 25-30 pips the SL needs to be moved to breakeven.
                            I was waiting for the TP to hit Zoli. In normal cases that would have happened. USD is too volatile and i should have played safe. I had 1.7% profit yesterday and i should have closed the trades then. My mistake. May be i was lil more greedy.
                            Trade the market, not the trader

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                            • #29
                              Do you think that I do manage your trade? I mean putting SL at breakeven and move SL about 25-30 pips from the current price. This is all for protecting the profit. Do you have such EAs?

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                              • #30
                                Rough start to your time here Smart Trader. But don't worry, there is hardly any damage done. I'm only down $30 on a $1,200 account.

                                I know you'll make it back shortly.

                                It probably serves me right for jumping on board when you were at an all time high
                                Click here to check out the most popular forex channel on YouTube

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