From Zero to Hero - in a year's time

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Old Apr 21, 2016, 11:30pm   #16
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babyjake1961 started this thread What's really bad for my system is complete big price round-trips like the one on EURUSD today. It's not like they didn't happen before (quite a few did, as my backtest shows) - yet my bot has no effective remedy against them. These round-trips first trigger a lot of trades, then lead them to a slaughter.

What do I do about it? Nothing. Do I care? Not for a tiny bit. Will my year-long experiment go on? Of course.
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Old Apr 22, 2016, 6:56am   #17
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What's really bad for my system is complete big price round-trips like the one on EURUSD today. It's not like they didn't happen before (quite a few did, as my backtest shows) - yet my bot has no effective remedy against them. These round-trips first trigger a lot of trades, then lead them to a slaughter.

What do I do about it? Nothing. Do I care? Not for a tiny bit. Will my year-long experiment go on? Of course.

Well you can anticipate the events that cause these in some cases. Was this round-trip around the ECB Rate Decision announcement at 1245?
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Old Apr 22, 2016, 7:04am   #18
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Well you can anticipate the events that cause these in some cases. Was this round-trip around the ECB Rate Decision announcement at 1245?
Yes, but these are also the times the robot takes most of its profitable trades historically. The reason it survives and profits in the long run is most of the high-impact events either not resulting in round trips or the round trips not being so short-lived. Big short-lived round trips also happen but they are not dominant on the market.

Overall, the market is always right (or always wrong). Seek no logic in it. Don't fight the tape, cut your losses, sit tight, and follow the strategy. These simple rules have proven correct over and over a countless number of times.
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Old May 1, 2016, 3:00pm   #19
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babyjake1961 started this thread Another live account was set up today (01.05.2016) as scheduled: https://www.myfxbook.com/members/bab...052016/1611171
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Old May 19, 2016, 8:06am   #20
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babyjake1961 started this thread My bot went in nicely in the breakout direction following yesterday's FOMC minutes. Are you now expecting the price to keep moving for some more in the breakout direction (thus agreeing with the bot) or to correct back to the pre-FOMC level?

It doesn't matter, actually, because large breakouts statistically result in new trends about 50% of the time. So if your risk is contained and your TP is greater than your SL, you have an edge over the market, provided you also have enough patience.
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Old May 19, 2016, 8:27am   #21
 
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How about publishing the current p/l on each post ?
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Old May 19, 2016, 8:28am   #22
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How about publishing the current p/l ?
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How about clicking on the MyFXBook live statement links in this thread?
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Old May 19, 2016, 8:36am   #23
 
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How about clicking on the MyFXBook live statement links in this thread?
Ah yes -7.03% currently.
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Old May 19, 2016, 8:40am   #24
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Ah yes -7.03% currently.
Right - with a start last month.

The impatient have no way of beating the market. They are fed to the bucket shops wholesale and retail instead. These seekers of immediate profits become an easy source thereof.

Weren't you the one suggesting I use "some oscillator" as an offsetting ranging strategy in the other thread?
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Old May 19, 2016, 8:42am   #25
 
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Right - with a start last month.

The impatient have no way of beating the market. They are fed to the bucket shops wholesale and retail instead. These seekers of immediate profits become an easy source thereof.

Weren't you the one suggesting I use "some oscillator" as an offsetting ranging strategy in the other thread?
Yes I was. Do you not like that idea ?
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Old May 19, 2016, 8:44am   #26
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Yes I was. Do you not like that idea ?
I'd say I find it insufficiently detailed.
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Old May 19, 2016, 9:23am   #27
 
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I'd say I find it insufficiently detailed.
I seem to remember I mentioned RSI as a simple starter ?
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Old May 19, 2016, 9:40am   #28
 
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Hi - How many signals per month, on average, does the algorithm generate? I notice that last night's trade was the first signal this month - is that typical?
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Old May 19, 2016, 10:43am   #29
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I seem to remember I mentioned RSI as a simple starter ?
I can hardly imagine one profiting with such a coherent plan.
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Old May 19, 2016, 10:45am   #30
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Hi - How many signals per month, on average, does the algorithm generate? I notice that last night's trade was the first signal this month - is that typical?
The number of signals entirely depends on the number of sufficiently large price breakouts. An entry is triggered by such a breakout.
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