Thankyou for responding Vijay but I wanted to know what the master account risk multiplier is set at...(eg. 0.5 or 1) so I can decide on what I'd like mine to be
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Originally posted by droz2 View PostThankyou for responding Vijay but I wanted to know what the master account risk multiplier is set at...(eg. 0.5 or 1) so I can decide on what I'd like mine to beTrade the market, not the trader
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Hey All,
I have included the volatality aspect in to the trading, so no more flat -30 pips another trade. The no of pips between trades is calculated on the basis of the volatality. if you had observed it took another trade at 60 pips this time. Also the lot size was reduced a little bit. So both lot sizes and the gap are decided by the volatality, so i advise to all, to follow this signal with risk multiplier than lot multiplier, because lot sizes vary in different baskets. We just started resuming trading and my first goal is to go above water mark sooner.Last edited by SmartTrader; 09-24-2014, 08:58 AM.Trade the market, not the trader
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Originally posted by sloozefx View PostHi Vijay.... so the significant reduction in lot size on the GBPNZD trades today was normal and due to volatility??? as per your last post.Trade the market, not the trader
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Recent changes...
FIRST:
Originally posted by SmartTrader View PostHey Guys,
We are ready to resume trading on SmartScalper. I have done the following changes.
1. Reduced the risk by 11%. So lots sizes will be little smaller than they used to be.
2. Instead of taking each trade at every 30 pips, the EA will now take 2nd trade at 30 pips, 3rd at 40 and 4th at 50 pips away from the previous trade.
3. Automated EA will take a maximum of 4 trades. After this EA will not take any new trades, and i will be managing the trades myself. So at the opening of the 4th trade we will be 120 pips away from the first trade and at 11% DD. From here i will be managing the trades manually. There is 20% more room for me to show my abilities to close the trades at Break even or book losses if necessary. It entirely depends on my decision. i will look to close the trade below 35% and will not exceed this DD limit at all. i will run the EA for closing the trades at 35% DD limit, so trades will be closed even if i am not watching the trades.
4. EA will not trade extremely volatile pairs. For example if you see GBPAUD, has been moving about 600-800 pips in few days. The range is enormous. i have added a filter not to trade this kind of pairs till the volatility comes down. The reason i did is this because, when the trend changes we may not get any chance to close at Break even which is what happened with respect to GBPAUD.
5. I will manually disable the EA during the high impact news and also try to avoid taking trades on Friday evening if we are not already in the market.
System maintains the same type of trading and try to reduces the DD and more room for manual action. With this we should do well. My first aim is to go beyond our previous water mark high and i am confident of that.
SECOND:
Originally posted by SmartTrader View PostHey All,
I have included the volatality aspect in to the trading, so no more flat -30 pips another trade. The no of pips between trades is calculated on the basis of the volatility. if you had observed it took another trade at 60 pips this time. Also the lot size was reduced a little bit. So both lot sizes and the gap are decided by the volatality, so i advise to all, to follow this signal with risk multiplier than lot multiplier, because lot sizes vary in different baskets. We just started resuming trading and my first goal is to go above water mark sooner.
THIRD:
Originally posted by SmartTrader View PostYes, sloozefx. If you see, GBPNZD is moving a lot so it can retrace easily around 200 pips and still continue its trend. so we needed to accommodate this huge replacements, so i did that. We cant have big lot sizes and take another trade at 30 pip levels for a 200 pip retracements. it will be huge DD for us. Thats why this change both in lot sizes and the pip difference for the next trade. its all dynamic. But in the same basket, the lot size and the pip difference will be the same for all the trades.
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