Am I ready to go live or should I test my system a little longer for a while.
Dec 11, 2014 at 21:15
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6 Replies
Membro Desde Sep 04, 2012
3 postagens
Dec 11, 2014 at 21:15
https://www.myfxbook.com/members/wasim/alpari-demo/1079172
^^^ I am testing one strategy in demo for the last almost 2 months and it is showing pretty good results. Overall strategy is very simple in which I throw random buys and sells on a particular pair (mainly EUR/USD and GBP/USD) keeping in mind the bigger trend or small trend picture in mind. If the trend is long I will still add shorts but relatively less then longs. There is no SL and there is only TP. TP's are added to the nearest swings in most of the cases. Only risk management I do is to keep the lots sizes small as compared to the overall equity. The inbuilt disadvantage in this strategy is the floating loss which is unavaoidable and the only solutionI try to apply is to get more TP's so that the overall profit is always more then the losses. This is not a Grid or AntiGrid system neither this is a martingale or hedging system or pyramiding system(even though sometimes pyramiding and hedging happens automatically due to random buys and sell). There is no EA and I only add positions after my day job for only 3 to four hours manually.
Apart from this short term trading strategy I am strong supporter of trend following strategy and I am trading real money for last couple of years in Equities with good results.
Awaiting your responses and criticism :)
^^^ I am testing one strategy in demo for the last almost 2 months and it is showing pretty good results. Overall strategy is very simple in which I throw random buys and sells on a particular pair (mainly EUR/USD and GBP/USD) keeping in mind the bigger trend or small trend picture in mind. If the trend is long I will still add shorts but relatively less then longs. There is no SL and there is only TP. TP's are added to the nearest swings in most of the cases. Only risk management I do is to keep the lots sizes small as compared to the overall equity. The inbuilt disadvantage in this strategy is the floating loss which is unavaoidable and the only solutionI try to apply is to get more TP's so that the overall profit is always more then the losses. This is not a Grid or AntiGrid system neither this is a martingale or hedging system or pyramiding system(even though sometimes pyramiding and hedging happens automatically due to random buys and sell). There is no EA and I only add positions after my day job for only 3 to four hours manually.
Apart from this short term trading strategy I am strong supporter of trend following strategy and I am trading real money for last couple of years in Equities with good results.
Awaiting your responses and criticism :)
There is a hidden order in Chaos so don't try to bring order to the Chaos.
Membro Desde Jan 14, 2010
2299 postagens
Dec 12, 2014 at 11:09
You know the answer yourself. Your average win is 4 times smaller than your average loss... Your results on myfxbook mean nothing at all. Your risk control is not good. Just look at your draw downs. Make sure that you trade in disciplined manner and with proper r:r playing from defensive and you are not losing money on demo, then go live. Set daily loss limit and abide. be disciplined. Then after you are not losing money after all this you can go live. Otherwise you will lose money for sure.
Membro Desde Jan 04, 2012
48 postagens
Dec 12, 2014 at 12:21
1. i dont think you are ready for live trading.you can try but start small like usd 100.see it whether you can multiply that.
2.i am pessimistic with your technique of trading.
it seem you want to do hedging trading.
for a hedging,you need to consider the interest rate that they will charge for overnight.
beside a trend could last for quite sometimes.it could take weeks,even months.
please correct me if i am wrong.maybe you also need to explain more bout the TP(how many pips that you are aim for,etc)
3.forex is a totally different market compared to equity.
forex could be up and down.while the equity(stock) market is usually go up.the stock market is only go down if there is a bad thing in the company or market crash.so basically buy on weakness is of course working for equity market.
so thats all my opinion.
2.i am pessimistic with your technique of trading.
it seem you want to do hedging trading.
for a hedging,you need to consider the interest rate that they will charge for overnight.
beside a trend could last for quite sometimes.it could take weeks,even months.
please correct me if i am wrong.maybe you also need to explain more bout the TP(how many pips that you are aim for,etc)
3.forex is a totally different market compared to equity.
forex could be up and down.while the equity(stock) market is usually go up.the stock market is only go down if there is a bad thing in the company or market crash.so basically buy on weakness is of course working for equity market.
so thats all my opinion.
Membro Desde Sep 04, 2012
3 postagens
Dec 12, 2014 at 22:01
Chikot posted:
You know the answer yourself. Your average win is 4 times smaller than your average loss... Your results on myfxbook mean nothing at all. Your risk control is not good. Just look at your draw downs. Make sure that you trade in disciplined manner and with proper r:r playing from defensive and you are not losing money on demo, then go live. Set daily loss limit and abide. be disciplined. Then after you are not losing money after all this you can go live. Otherwise you will lose money for sure.
I agree with you. Drawdown is actually part and parcel of the strategy as well that is why I mentioned that my strategy includes floating loss at all times and all I have to do is to add more tp's then losses. Anyway's u are right I will test more for few more months before going live.
There is a hidden order in Chaos so don't try to bring order to the Chaos.
Membro Desde Sep 04, 2012
3 postagens
Dec 12, 2014 at 22:01
zanzuk posted:
1. i dont think you are ready for live trading.you can try but start small like usd 100.see it whether you can multiply that.
2.i am pessimistic with your technique of trading.
it seem you want to do hedging trading.
for a hedging,you need to consider the interest rate that they will charge for overnight.
beside a trend could last for quite sometimes.it could take weeks,even months.
please correct me if i am wrong.maybe you also need to explain more bout the TP(how many pips that you are aim for,etc)
3.forex is a totally different market compared to equity.
forex could be up and down.while the equity(stock) market is usually go up.the stock market is only go down if there is a bad thing in the company or market crash.so basically buy on weakness is of course working for equity market.
so thats all my opinion.
Hi Zanuk,
I wish I could start with 100 dollars. U see my strategy is more like carpet bombing of small buys and sell lots all over the place. so I need atleast the cushion of 1000 or 1500 $ in order to make it work :)
No I dont want to do hedging trading as I have mentioned in the first post that hedging is not my goal. Tp is determined by keeping the nearest swing on the chart as the target.
Yes forex is different because it fluctuates a lots making it perfect for my strategy I suppose.
Yes forex can be up and down which is exactly what I want because this strategy will not work on equities as it has the bias of upside only.
Thank you so much for your valuable input.
There is a hidden order in Chaos so don't try to bring order to the Chaos.
Membro Desde Jan 14, 2010
2299 postagens
Dec 12, 2014 at 22:10
wasim posted:Chikot posted:
You know the answer yourself. Your average win is 4 times smaller than your average loss... Your results on myfxbook mean nothing at all. Your risk control is not good. Just look at your draw downs. Make sure that you trade in disciplined manner and with proper r:r playing from defensive and you are not losing money on demo, then go live. Set daily loss limit and abide. be disciplined. Then after you are not losing money after all this you can go live. Otherwise you will lose money for sure.
I agree with you. Drawdown is actually part and parcel of the strategy as well that is why I mentioned that my strategy includes floating loss at all times and all I have to do is to add more tp's then losses. Anyway's u are right I will test more for few more months before going live.
I trade futures hence i cannot have floating loss. All opened and closed in one session.
You need patience in your trading plan to look only for moments when you can enter and do not float hoping to come back and snatch few pips in profit... I have read some guys claim entry is not important. BS. Everything is important.
Membro Desde Jan 14, 2010
2299 postagens
Dec 12, 2014 at 22:16
(editado há Dec 12, 2014 at 22:18)
I also use cushion but for only one reason, to increase my trading size. You seem to look for cushion as a way to wait through unrealized draw downs. You need to work on your method first and be patient.
Back test, set rules and practice. Do not waste real money until you do not lose demo money and have self control.
It is better to go all in when it comes to real money when you are ready than to bleed those money time after time to the market. It is good to have a good stake when you are ready. i did just that.
Remember, you can only fool yourself and this thing cannot be pushed.
Especially, one cannot carper bomb the market :)
Hi Zanuk,
I wish I could start with 100 dollars. U see my strategy is more like carpet bombing of small buys and sell lots all over the place. so I need atleast the cushion of 1000 or 1500 $ in order to make it work :)
No I dont want to do hedging trading as I have mentioned in the first post that hedging is not my goal. Tp is determined by keeping the nearest swing on the chart as the target.
Yes forex is different because it fluctuates a lots making it perfect for my strategy I suppose.
Yes forex can be up and down which is exactly what I want because this strategy will not work on equities as it has the bias of upside only.
Thank you so much for your valuable input.
Back test, set rules and practice. Do not waste real money until you do not lose demo money and have self control.
It is better to go all in when it comes to real money when you are ready than to bleed those money time after time to the market. It is good to have a good stake when you are ready. i did just that.
Remember, you can only fool yourself and this thing cannot be pushed.
Especially, one cannot carper bomb the market :)
Hi Zanuk,
I wish I could start with 100 dollars. U see my strategy is more like carpet bombing of small buys and sell lots all over the place. so I need atleast the cushion of 1000 or 1500 $ in order to make it work :)
No I dont want to do hedging trading as I have mentioned in the first post that hedging is not my goal. Tp is determined by keeping the nearest swing on the chart as the target.
Yes forex is different because it fluctuates a lots making it perfect for my strategy I suppose.
Yes forex can be up and down which is exactly what I want because this strategy will not work on equities as it has the bias of upside only.
Thank you so much for your valuable input.
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