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  • Originally posted by Nick View Post

    Nice video Joe, interesting and well presented. Keep up the good work.

    Don't worry about the thumbs down, you'll get a lot more of those as time goes on regardless of what you do. Don't take it personally
    Thanks nick I was very well aware of these kinds of things happening when you start going public. Like you said there will always be these kinds of things.
    The more video updates I do, the easier it will get over time to stand in front of a camera in a room, alone talking to myself

    Also, on my check list of topics to talk about, there will be a video dedicated to you and your team. I ll send you the link when it's finished. Of course all positive.

    Happy 5th Birthday to ForexSignals.com

    Comment


    • JoePro, I have been keeping a close eye on your track record. Very impressive!

      Keep up the great work!

      Comment


      • Hey Joe,

        Thanks a lot for the video. It does clear things up. I watched it a few times because it's not easy to understand. And I gave a thumbs up!

        So your strategy hits into drawdowns when market starts to range. Unlike normal strategy, DD hits when market goes wrong direction. Yours is DD hits when market has no direction.

        Now what you have changed after Oct 7th 2016.

        1. Positions of pending hedge orders. Previously, you place them at similar horizontal positions lets say within a 100pips range top and bottom. After Oct 7th, you place them in a widening fashion, like a shape of a trumpet. So in a way, it should trigger less frequently, therefore you hedge less often, therefore DD is less. Correct? But your BE target will also widen up and maybe you need to stay in hedge position in a longer time period? Will Swap cost be an issue?

        2. Position opening. Previously you open in a grid manner and in the manner of averaging down. After Oct 7th, you open orders with your indicator trigger, so it's more like averaging up instead of down. In this case, you open more positions only when market goes your way, and don't add positions when market goes the wrong way. This way you reduce your DD.

        Am I understanding it correctly?

        Now, my worry was the increasing hedging lots. So far after Oct 7th, your max lot size has reduced to 0.36lots, and net at 0.26lots before you hit BE. That's good. But do you set a limit like a max hedge lot size? After hitting this limit, you will not hedge anymore and let market decide whether the sequence ends in a win or loss?

        You mentioned occasionally you will close some positions to reduce exposures and margins so you can hedge more if market continues to range, this means you will intervene manually, that's good, but you are running the EA 24 hours and you need to sleep right? Is there possibility that the EA hedge more than your lot size (if you have a max hedge lot size) while you are sleeping?

        Comment


        • Can i get a pronation T-shirt and Coffee mug ????

          Comment


          • Originally posted by xdjericho View Post
            Can i get a pronation T-shirt and Coffee mug ????
            Funny you ask, I was thinking the other day "JoePro" or "ProNation" sounds like a great brand name for clothing etc.

            I should find a company that has excellent quality shirts and create my own print to give out to subs & for traders who want to wear traders clothing line

            Comment


            • Originally posted by Lithium View Post
              Hey Joe,

              Thanks a lot for the video. It does clear things up. I watched it a few times because it's not easy to understand. And I gave a thumbs up!

              So your strategy hits into drawdowns when market starts to range. Unlike normal strategy, DD hits when market goes wrong direction. Yours is DD hits when market has no direction.

              Now what you have changed after Oct 7th 2016.

              1. Positions of pending hedge orders. Previously, you place them at similar horizontal positions lets say within a 100pips range top and bottom. After Oct 7th, you place them in a widening fashion, like a shape of a trumpet. So in a way, it should trigger less frequently, therefore you hedge less often, therefore DD is less. Correct? But your BE target will also widen up and maybe you need to stay in hedge position in a longer time period? Will Swap cost be an issue?

              2. Position opening. Previously you open in a grid manner and in the manner of averaging down. After Oct 7th, you open orders with your indicator trigger, so it's more like averaging up instead of down. In this case, you open more positions only when market goes your way, and don't add positions when market goes the wrong way. This way you reduce your DD.

              Am I understanding it correctly?

              Now, my worry was the increasing hedging lots. So far after Oct 7th, your max lot size has reduced to 0.36lots, and net at 0.26lots before you hit BE. That's good. But do you set a limit like a max hedge lot size? After hitting this limit, you will not hedge anymore and let market decide whether the sequence ends in a win or loss?

              You mentioned occasionally you will close some positions to reduce exposures and margins so you can hedge more if market continues to range, this means you will intervene manually, that's good, but you are running the EA 24 hours and you need to sleep right? Is there possibility that the EA hedge more than your lot size (if you have a max hedge lot size) while you are sleeping?
              Great questions, I might have talked about this in a video before but yes each level has a max hedge trades before a SL is placed instead of a hedge trade for that level.
              First the level is moved out of the range to avoid opening hedges when they are not advantageous, I want to point out one thing, the distance we use between the hedge and trade can be doubled and it still would be fine, so moving the zone 50 pips out of the range is nothing, you see GJ can move 300 pips in 1 day.

              Second, all of the functions are 100% fully automated and only are used when there is a statistical significance for the function to manage the sequence that way. Every function of the EA has a statistical calculator to determine how to manage the sequence with which function. We never ever blindly just on emotion manage a sequence. Every possible scenario the sequence could come into has been already accounted for and the best choice has been already made. If you're in draw down and that's when you're making decisions on how to mange the trades than you already lost because you missed the chance to make these choices with a clear mind. The only thing we do is watch over the EAs trading to make sure every algorithm is executed properly.

              Each level has a max hedge trade of 6 trades and than a SL is placed to close that level out. That doesn't mean the entire sequence will close in a loss, if the other positions are still very low risk, it will just separate that level from the group and close that position out in a loss for 2% that has had too many hedge trades opened because of ranging markets.

              I can't go into detail about every single function of the EA(s) & I am sure everyone would love to know every detail. However, the information I have covered so far I think is enough to let followers know the most basics of the strategy. If I reveal everything than no one will need me anymore

              Comment


              • Nice trading today!!! Those spikes are the best, most other traders lose because they are unpredictable, while Joe makes a nice profit. The MAM is a nice option to set and forget, no worries about slippage and checking VPS if all is connected. Keep up the good work Joe!

                Comment


                • Originally posted by oportunis View Post
                  Nice trading today!!! Those spikes are the best, most other traders lose because they are unpredictable, while Joe makes a nice profit. The MAM is a nice option to set and forget, no worries about slippage and checking VPS if all is connected. Keep up the good work Joe!
                  Thank you sir! Yes the MAM is really a excellent option. It does reduce a lot of the in between stuff that increases risk.

                  Originally posted by Dean Hyde View Post
                  JoePro, I have been keeping a close eye on your track record. Very impressive!

                  Keep up the great work!
                  Thank you Dean Hyde! I sure will continue the good work!

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                    • Hi Joe,

                      Could you put the links to the MAM / Video etc on the first post ? I only realised it existed after catching up on some recent posts.

                      If you put it on the first page, it'll be obvious to anyone new to the thread.

                      Cheers

                      Gary

                      Comment


                      • WOW! That's exactly what the strategy it is! You know what, I now should change the name of the EA to "Forex Yoga" hahahahaha

                        This is really interesting that ProNation means that and the strategy is also that.

                        Check out the new video explaining why the draw down is shown on myfxbook wrong using the trades from the flash crash.

                        https://www.youtube.com/watch?v=st5P3QUv584

                        Enjoy guy!

                        DSC_2662.jpg

                        Comment


                        • Originally posted by gpfwestie View Post
                          Hi Joe,

                          Could you put the links to the MAM / Video etc on the first post ? I only realised it existed after catching up on some recent posts.

                          If you put it on the first page, it'll be obvious to anyone new to the thread.

                          Cheers

                          Gary
                          Yes excellent idea, it's on my to do list which I will do right now. Thank you.

                          Comment


                          • Hi Joe,

                            Thanks for the effort to explain. I still don't exactly know at which point you will stop hedging, therefore I still cannot access the risk of your strategy completly. I'm worried because it's a martingale hedging.

                            Anyway I have decided to join the MAM to experience it. I have some questions.

                            1. Do I get my own MT4 screen to monitor the trades? And can I disconnect if I don't feel comfortable with it?
                            2. If I can't disconnect instantly, do I need to wait until all trades are close to disconnect? What are the procedure to disconnect?

                            But I wish I can continue to stay with you forever and add more funds with you after I understand how you trade over time!

                            Comment


                            • Originally posted by Lithium View Post
                              Hi Joe,

                              Thanks for the effort to explain. I still don't exactly know at which point you will stop hedging, therefore I still cannot access the risk of your strategy completly. I'm worried because it's a martingale hedging.

                              Anyway I have decided to join the MAM to experience it. I have some questions.

                              1. Do I get my own MT4 screen to monitor the trades? And can I disconnect if I don't feel comfortable with it?
                              2. If I can't disconnect instantly, do I need to wait until all trades are close to disconnect? What are the procedure to disconnect?

                              But I wish I can continue to stay with you forever and add more funds with you after I understand how you trade over time!
                              I ll do a video demonstrating how the EA sets Stop Losses after max 6 hedge trades have been reached per level and what that means and what kind of loss. It will also show how it moves the pending hedge trades out side of the range etc.

                              I talked to the broker and from what I have understood you can disconnect from the MAM at any time even if we are in draw down and the trades on your account will get closed. I am going to run a small test about this to make sure this is information is 100% correct.

                              You don't get your own MT4 screen to monitor the trades. You get daily reports from broker & you have access to the open trades and draw down and everything right from your dash board in your control panel. I also have the myfxbook update every few minutes & if you wish to watch the EA trade for a few weeks I can give you access to the investors login on MT4. However I can't give you mt4 access longer than a few weeks to protect myself from people running copy EAs on their mt4 and having the trades copied to other accounts for free. I will of course continue doing draw down video updates for investors and you will always know what the next steps are in the trading when we are in draw down.

                              I hope that answers your questions and I will make sure to demonstrate the SL function of the EA. This is 100% automated so even if I am sleeping and 1 of the levels reaches it's max DD the EA will automatically set the SL regardless if I am watching or not.

                              Comment


                              • By the way guys, we are in talks right now with Mt.Cook for a MAM there. If anyone is interested in a MAM at Mt.Cook, write me so I can tell them how many people are interested and around how much capital we can expect. Thank you in advance.

                                Comment

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