$25 to $25k in 10 days Diskussion

agreed. profile is 10 times better.

but since Psy already posted pictures of the charts he is using and I couldn't wait, i copied his 1m 5m 15m and 1h charts.
I can see from the posted charts he is using:

1m
Stochastic (5,3,3)
RSI (4 golden)
NonLagZigZag (default?)
Harmonic Zup (unknown)
Bands (unknown)

5m
Stochastic (5,3,3)
RSI (4 golden)
NonLagZigZag (default?)
Harmonic Zup (unknown)
Bands (unknown)


15m
Stochastic (8,3,3)
RSI (4 golden)
NonLagZigZag (default?)
Harmonic Zup (unknown)
Bands (unknown)
MACD (12,26,9)
Autopivot (daily red)
Fibonacci Retracement (manually set)

1H
Stochastic (5,3,3)
RSI (4 golden)
NonLagZigZag (default?)
Harmonic Zup (unknown)
Bands (unknown)
Autopivot (daily red)
Vertical Blue Line (possibly a manual line indicating his trades)

hope this helps

yup thats about the sum of it! the vertical blue lines are trade entry's! that's some good detective work :)

just waiting for my broker to transfer over another $25 and i'll be looking for a position on the AUDUSD in the next couple of hours...

here's to a great week for all

psy

Hey guys,
This sounds way to fun. I’d love to help in any way I can. I have 5 years of tick data from Dukascopy that will give us 99% modeling quality and I’m willing to do as much testing as needed. I also have a substantial amount of code libraried that may help. Plug in type stuff.

I’ve been working on an EA I call PerfecTrader for almost a year that has a similar strategy at it’s core; Small, highly leveraged trades with short stops that focus on very high probability. Not as high as 100% but over 75%. I’ve found that a “Kamikaze Trade” strategy like this can become VERY complex. I think one of the things that makes them so difficult to code is all the things that you have to take into consideration that you don’t think about at first. Psy, based on your comments I think that maybe what is happening when your manually trading too.

When I started documenting and explaining to coders what I did and why I did it, I was amazed at how much it helped my manual trading! I had to get systematic and organized.

If we’re going to let the EA run 24/7 looking for the “perfect” set-up we may want to consider a few things that I’ve found can simplify the EA considerably.

The biggest one; Instead of evaluating the criteria and placing the trade, what do you think about starting with an EA that is nothing more than an alert? Let it find the trade based on your criteria and then alert you. If you like it take it. If you don’t take it tell us why and we can adjust the EA. Kind of like real time testing. I think it will really help you to think through and document why you do or don’t take a trade.

My guess is there are a ton of things that you consider that we may not want to initially include in the code. Things like, no trading around news announcements, EA sleep time in off hours, time of day, and on and on. I’ve found that this approach will help to avoid taking trades on about 80% of the bogus signals you get from a 24/7 EA.

One of the guys that works for me is a coding guru. He is pretty busy but I think we can tap into his big brain when we need to.

Let me know what I can do to help.

Hi PIP,
We are just starting. From my part you are most welcome to collaborate.

We are just waiting to get the logic of Psymon s trades to see if we can code it.

Trade sizing, and adapting it to the 10 perfect trades challenge will be something to consider on a further stage. I would like to see first if coding will help or not. I think an EA can be of great help, but it depends on how technical is Psy's system. If it is based on a lot of very subjective criterias, maybe we can automate only some parts and maybe create an indicator instead of an EA.

Since all the testing and developing will be done in demo accounts I don't see the reason of not placing actual trades. Adding an email alert to the trade shouldn't be a problem.

Time filters. Yes, will be a lot of help, but again, we will have to wait till we get the main strategy.

Horacio

I'm pretty good and hungover today! see ya'll tomorrow for some fun 😉

put a long trade on this morning, but it didn't seem to have the legs so i pulled the plug! new addition to the strategy, sl to entry when 10 pips is reached, just to reduce risk. more and more this little thing we have is looking like a full risk averse strategy...

😀
i am glad to see you protecting your $25. othewise, we will have to wait 2 more days until your broker gets you the money for the next round.

doh!

i hope that wasn t my fault.
better luck next time

@horacioo, not at all my good man! the only person responsible for each of my trades is me.

when i'm trading i need to be in a certain mindset, the only way i can describe it is having a kind of clarity, the last 2 weeks i have been all over the place, and as you can see i'm allowing it to affect my trading.

when i make a decision and its wrong there is always a reason for it, this time i didn't include the longer time frame charts, I was too focused on the short term trend line and i 'expected' there to be a third bounce, instead of checking all of my charts i got fixated on one signal, which was the wrong one, as you can see by the -300pip drop! on a normal day i would have predicted it with surprising accuracy!

they say that driving tired is worse than driving drunk, the same goes for trading. I live in Bali and there has been so much going on in the real world that it has left me exhausted, too tired to think properly. I am having to work 2 normal jobs to pay the bills and for the first time in years i'm in debt, my failure to finish 10 trades in a row, my blowing a 2k account, laptops melting, birthday parties and the wife in a new job have all gotten on top of me and damn it frustrating, annoying, depressing & tiring!

What i'm getting at is that everyone at one time or another get disheartened by failing to make / losing money, the only way i know how to deal with it is to take a holiday! and when my mind is strong again i'll start all over again😀.

psymon posted:
    
this time i didn't include the longer time frame charts, I was too focused on the short term trend line and i 'expected' there to be a third bounce, instead of checking all of my charts i got fixated on one signal
<quote=psymon>

I sounds like a custom indicator could really help you more than an EA that places trades. If we developed an indi that basically said 'GO or NO GO' on ALL of the indicators you use to validate entry I think it could help a lot. It would help to keep you from forgetting to check one of your critical indicators. It seems that you have a strategy that works as long as you don't miss something. That's a home run because an indi can help make sure you don't over look something OR force you to address why you are taking the trade against your predefined rules. Having a strategy that works as long as you do everything right is a whole lot better than a strategy that doesn't work even if you do do everything right. (I have a lot of those)

I also think that an indi could help you to spend less time in front of the screen waiting and watching. You could be notified when it meets your criteria and THEN go study the setup to see if it is valid. It could filter out a ton of screen time!

<quote=psymon>What i'm getting at is that everyone at one time or another get disheartened by failing to make / losing money, the only way i know how to deal with it is to take a holiday! and when my mind is strong again i'll start all over again<quote=psymon>

I used to be a professional athlete and what your saying makes a lot of sense. We used to say' perfect practice makes perfect performance.' The inverse of that is also true. Practicing mistakes leads to failure in performance.

Don't get disheartened. What you are trying to do VERY few would even attempt much less be successful at. OMG, if you do it you'll be famous! I'm all about helping you to make it a reality, cause if you can do it I can do it!

Hey Pip, thanks for the kind words :)

over the last couple of days i've been refining my chart setup, i've included a new screen shot, and some new indicators, all of the settings are the same.

I'm just looking for a suitable strength indicator, looking for exactly 25 pip moves has always meant filtering out the strength, using rsi just isn't cutting it for me so i'm gona find something that does! came close yesterday but its still not what i want... i'll keep you updated :)

on on...

holy crap, i've just had a look at the chart i gave birth to last night! holy crap, here is a some what more sensible chart set up !

That chart belongs here: https://forum.mql4.com/6130

Never going to be able to make money from something that noisy.

@PipGnostic bahahahah the hall of shame charts! i hope that everyone goes though the process of loading up a chart to exploding point, then paring it back to something thats actually workable? or is it just me having a brain fart?


sorry and trying to post the stoch indicator, but its not up loading...

one more try, cause i think that its worth it...

I think you will find most people work out over a period of time, about 6 to 10 years, that indicators are useless as they eliminate them one by one. They don't work at all. Especially in fx where the volumes are broker supplied, not market, so any indicator with volume in it, which is most of them, are out.

In MT especially volumes are tick volumes, number of ticks coming in, and has nothing to do with actual volume traded.

Even one indicator is one to much.

There's a lot to think about to make a portfolio work once you get beyond indicators. You want to learn to trade? Take them all off. Put down a random trade and manage it.

If you take a guess at direction out of it you'll suddenly find yourself thinking about the things that matter...direction is not really one of them. Fx is bi-directional. Which way it's going doesn't really matter. What does matter is how much risk the trade poses to your portfolio. If it's going to go for you or against you is a coin toss.

@ pip, er... thanks for the input, its just kinda a hard one to get my head around! er... to put into simple terms what your saying is trade anything, wait, if negative get out asap, if positive let it run locking in profits?

so decide on limits of loss that are acceptable, then assume that probability will make you profitable when you let gains run?
intriguing.

if i have a little of your attention, may i ask a couple of questions? (yeah it was rhetorical)

how do i cure self sabotage?
do you think that this is possible, $25 to $25k in 10 days in 10 trades?
where could i get a coin that you toss?

thx

In terms of fx you just get margin called till you are to numb to feel anything. Then the trading becomes easy as emotions don't play a part any more.

I don't think 25 to 25 k is possible in 10 days. If you do do it, it will be pure luck or you are a trading god the likes of which the world has never seen and most likely will not see again.

In the absence of coins it helps to suck thumb to. Has the same result....