Originally posted by phillipnaz
View Post
-
It's a combination of both small and large time frame trading, taken at certain levels. -
Nice one do you look for daily high or low or breakouts or certain levels.Leave a comment:
-
I do not follow any signals. All my trades are done by me and are all manual. No EA's no indicators.Originally posted by phillipnaz View PostLeave a comment:
-
Yes been cautious last two weeks due to Greece situation. Which isnt a bad position to take.How about you do you trade your own account or follow a signal as well.Leave a comment:
-
Cool. Viper is great, very consistent.Originally posted by phillipnaz View PostLeave a comment:
-
Nice one im in the uk just on my last night shift.I see you in the trading room its a good bit of banter and quite funny at times.I am currently following Viper.Leave a comment:
-
Thanks phillipnaz, hope you will keep on enjoying watching my progressOriginally posted by phillipnaz View Post
Leave a comment:
-
End of trading week update -
Total gain for the week = 14.97%
Total pips gained for the week = 465.8
Current open floating positions = -14.85%
Total gain month to date = 21.01%
Total pips gained month to date = 646.20
Happy weekend to all
Leave a comment:
-
Hi Nick,Originally posted by Nick View Post
Thanks for your contribution to the the thread!
You are right worst thing for a trader to try and do is force pips out of the market...so I just want to point out and make this clear that I DO NOT try to force pips I simply continue to follow my strategy and adhere to my system's rules....sometimes the markets are generous and it gives me much more than my daily pip target and sometimes not...50 pips per day is just a number I set to give me something to aim for if I'm able to achieve it awesome! if not then there's always another day and another trade.
This particular system isn't designed for a maximum loss per trade/day/week as such but instead it looks at all open positions and treats them as a group when it comes to DD levels... hence the worst case scenario cut off DD level of 50% on all open positions at anytime with safety precautions starting to take place to work on reducing the DD once it reaches 25%.
Also one more thing I would like to point out is that all trades are taken manually by me so I'm always in control and watching the markets at all times while I'm in open trades, if I'm away from my trading station then I have alerts setup and am I able to control the trades from my phone/laptop while on the move.
Thanks again for your feedback and I hope you will continue to enjoy watching my performance
Leave a comment:
-
Nice job Magician. There is nothing like a public declaration to help one stick to their rules.
However I'd encourage you to set slightly different goals. One thing that I've learned from doing this for a while is that if the conditions aren't conducive to a strategy then the worst thing you can do is force trades just in an attempt to reach a profit or pip goal.
You're better to have a set of strict entry/exit criteria and base your goal on that. Perhaps also having a maximum loss per trade/day/week as well.Leave a comment:
-
Love performace so far and learning from it .. yet .. i still would withdraw monthly if i follow such system one day .. at least till i cocer up my capital ... yet ur doing gr8 so far..Originally posted by FX Magician View PostHello Sherif,
Appreciate the feedback, however I would like to point out that as stated on my first original post, my system has a WCS DD =50% which means that worst case ever would be a 50% loss on the account NOT a blown account.
Also another thing I did not mention earlier that once DD level of any open trades reaches a level of 25% I then utilize a number of different strategies to work on reducing the DD level and minimizing the chances of it getting higher.
My system is here to stay for the long term, its not built on the idea that one day it would blow up.
By the way, I have many years of experience as a trader and this is just a new system that I'm testing and so far it has been proving very profitable! as I'm sure you would agree that even with the current DD level the system is still at about 90% gain in just a bit over a month
Best of luck in your own trading and I hope you will continue to enjoy watching my progress!
Cheers
Sent from my SM-G900H using TapatalkLeave a comment:
-
Hello Sherif,
Appreciate the feedback, however I would like to point out that as stated on my first original post, my system has a WCS DD =50% which means that worst case ever would be a 50% loss on the account NOT a blown account.
Also another thing I did not mention earlier that once DD level of any open trades reaches a level of 25% I then utilize a number of different strategies to work on reducing the DD level and minimizing the chances of it getting higher.
My system is here to stay for the long term, its not built on the idea that one day it would blow up.
By the way, I have many years of experience as a trader and this is just a new system that I'm testing and so far it has been proving very profitable! as I'm sure you would agree that even with the current DD level the system is still at about 90% gain in just a bit over a month
Best of luck in your own trading and I hope you will continue to enjoy watching my progress!Leave a comment:
Leave a comment: