Forex trading live calls and set ups

I am thinking of closing this thread (Beachtrader voted a No)

  • Total voters
    29
  • Poll closed .
Lord Flasheart said:
when are you going to do one of your systems live. Surely you can risk £468 to try it out,it will definately work most of the time
Click to expand...

I already operate 15 automated systems simultaneously live .35 more will go auto live in 2 months.

I just opened a spread betting account and funded it , so we will see.

O D T
 
oildaytrader said:
I already operate 15 automated systems simultaneously live .35 more will go auto live in 2 months.

I just opened a spread betting account and funded it , so we will see.

O D T
Click to expand...

15 how. they will be buying and selling at the same time.please explain more
 
Exited at 3493 this morning, but it wasn't a live call so didn't post it. (those who swing trade euro should keep their longs imho)
 
Lord Flasheart said:
15 how. they will be buying and selling at the same time.please explain more
Click to expand...


Yes they often buy and sell at same time.It is all fully automated .

There are 4 breakout systems which will buy when price is on the up , with buy stop orders/sell stop orders , all work on different parameters.There are s/r systems and contrarian systems buying against the market direction, after a exhausted trend,several different t/f reversal systems on trend line reentries ,several systems based on cci, stochastics and custom contrarian indicators,momentum systems,trend breakout failure systems etc.There are swing systems using a special exit indicator.There are other breakout swing systems and intraday breakout systems.

O D T
 
Lord Flasheart said:
got to go out so have targets set at 8855,8878 and 8897
Click to expand...

1/3 off at +10:clap:
1/3 off at +32:clap:
last 1/3rd stop at +15:clap:

Happy days everyday at the moment

ODT I often dont understand what you are saying. Surely myself and leo have proved we can trade with tight stops and make good money. A stop is relevant to the timescale of the trade.
 
oildaytrader said:
10 and 12 pip stops take you out of many good trades.It just went to 12 pips ,took us out and went without us.If you have hundred pip stops , you get less losing trades.Luckily I had other trades running
Click to expand...

Why do you always mention other trades whenever you have losing trades? It shows that you're in denial to accept any losing trade. Anybody can see that!

It is also reflected in your so-called stake plan- you double up the stake after a few losing trades to make up previous losses. It is 'revenge trading'. It manifests the lack of confidence by the trader - just focusing on the short-term P&L and 'the' next trade. If you truly believe in your edge, you will focus on the long-term P&L and viability of your edge over various phases of market.
 
leovirgo said:
Why do you always mention other trades whenever you have losing trades? It shows that you're in denial to accept any losing trade. Anybody can see that!

It is also reflected in your so-called stake plan- you double up the stake after a few losing trades to make up previous losses. It is 'revenge trading'. It manifests the lack of confidence by the trader - just focusing on the short-term P&L and 'the' next trade. If you truly believe in your edge, you will focus on the long-term P&L and viability of your edge over various phases of market.
Click to expand...

I mention during after losing trades ,other trades because there are always multiple trades running ,these losses don't do too much damage to account.There are other trades making money, and things not too bad.

The stake up plan is to find a money management edge to be consistently profitable every day.It is possible and it can work.This MM edge is an addition to the trading edge.

People talk about tight stops , they work in certain low volatility situations and lower volatility pairs like usd yen and euro/gbp, but a problem arises if volatility on these increases.

Risk reward is not only in pips , but also risk of being taken out of good trades.Do some backtests and you will see move to b/e and smaller stops systems are less profitable than wider stop systems.

O D T
 
oildaytrader said:
I mention during after losing trades ,other trades because there are always multiple trades running ,these losses don't do too much damage to account.There are other trades making money, and things not too bad.

The stake up plan is to find a money management edge to be consistently profitable every day.It is possible and it can work.This MM edge is an addition to the trading edge.

People talk about tight stops , they work in certain low volatility situations and lower volatility pairs like usd yen and euro/gbp, but a problem arises if volatility on these increases.

Risk reward is not only in pips , but also risk of being taken out of good trades.Do some backtests and you will see move to b/e and smaller stops systems are less profitable than wider stop systems.

O D T
Click to expand...

How long have you been using these automated systems and how much have you made on average per day. why do you need anything else if they work,just sit back and enjoy the profits
Why would leo want to do back tests or forward tests,neither have any reality, his trading does and is real.
Im happy to look and try and build an automated strategy with you but I need to know exactly where your at and coming from. Even Leo,Black swan,trendie, everyone wuld love to have a black box system they turn on in the morning ,make 10k a week without doing anything.IT cant happen that way,which is why we question what you say, But as I said I am willing to look at it just in case you can do what I and 1000s of others have failed to do.
What happened to the 500 pips a week from trends?

what you are saying about stops is not true or at least not really relevant.
If I put my stop behind the last low,then the last low is the last low,irrespective of volatility.I prefer volatile markets,its easier to operate a good r/r strategy.
 
oildaytrader said:
I mention during after losing trades ,other trades because there are always multiple trades running ,these losses don't do too much damage to account.There are other trades making money, and things not too bad.
Click to expand...

It doesn't change the fact that the trades you callled live on this thread got stopped out. Nothing wrong with losing, it's part of trading. But you don't want to accept that.

In stead, you take every opportunity to promote your so-called phantom automated trades, especially when you have a bad call. I will not accept that kind of posts in future.

It directly affects the credibility of your posts and indirectly affects my thread as they are not adding any value to it.
 
leovirgo said:
It doesn't change the fact that the trades you callled live on this thread got stopped out. Nothing wrong with losing, it's part of trading. But you don't want to accept that.

In stead, you take every opportunity to promote your so-called phantom automated trades, especially when you have a bad call. I will not accept that kind of posts in future.

It directly affects the credibility of your posts and indirectly affects my thread as they are not adding any value to it.
Click to expand...

I should stated I re-entered the manual trades after being stopped out.I couldn't call the re-entries in time.

All questions on automation on a separate thread in general forum in the future.
I will keep posts relevant to this thread.

O D T
 
Lord Flasheart said:
But as I said I am willing to look at it just in case you can do what I and 1000s of others have failed to do.
Click to expand...

You think he has the right mind-set? He will need at least two parrallel systems to balance each other, and 4 more additional systems to smooth equite curve during drawdowns periods and 8 more, 16, 32,64,...1024 systems to maintain equity curve.. with unlimited amount of capital to double up after losing trades.

I have done 100% automated system for forex and ES/NQ futures before. One of the systems that I used on GBPUSD, did have very good returns like 300%-400% per month during winter 2006 but it stopped working for 4-6 months in 2007 and I binned them. It would have worked 500-1000% per month again during 2008 crisis as it needs plenty of volatility.

The major risk factor is that you never know when they'll stop working or have a long drawdown periods. The best situation to use such systems is when you don't need any income from these systems, like you work for a hedgefund or you have enough to live on for about 3 years.
 
lol, i wasnt planning on going into that much detail. I was refering to his staking plan and applying it to sensible descretionary trading. Sorry what I wrote wasnt clear. At the end of the day all said and done I dont believe he trades live and I think the thread should be live calls and set ups. Lurkers reading his posts would soon realise he is not trading live at all.What you said about him not accepting he has to post several losing trades in a row is so true. I would rather he had 10 losing trades in a row as long as he and we learn from each other. Come clean odt and start again.

Meanwhile Flashy is still waiting for final target on eur/gbp to be reached. We should all be saying what a great trade and not doing the handbags at dawn stufff.
 
temporarilylight said:
could your method not be automated then, Julian?
Click to expand...

no not at all. I was saying that I could help him with staking plans.
Everything I do is totally from the eye and the lines I place. I cant see how any automatic system can work over time as in the long run every starting point has a 50% chance of moving in the right direction. So any automatic system would have to be re programmed according to market conditions. I think Leo knows more and has given up on them
 
You must log in or register to reply here.

Similar threads

rav700
Rav's Calls
4 5 6
Replies
101
Views
14K
2be
2be
F
  • Locked
Forex Calls
Replies
8
Views
3K
Mornington Crescent
Mornington Crescent
E
I Need Help Setting Up a FX Hedge
Replies
2
Views
2K
Sidekicker
Sidekicker
oildaytrader
Predictive chart patterns and set ups
2 3
Replies
45
Views
14K
Hilarymannah
H
iceman17
My trade calls Live
Replies
19
Views
4K
Forexmospherian
F
Top