Betting sequence for intra day trading

[oildaytrader]

What are your opinions on using the following betting method on Euro/usd,usd/yen and cable?

I am thinking of using it on this method using 15 min trendline break system.It guarantees me a profit almost everyday.

http://www.trade2win.com/boards/gen...ive-chart-patterns-set-ups-5.html#post1114872

After every loss increase bet size as per excel sheet.If consecutive losses increase, use option of talking half profit and restarting next trade as half trade size.See far right calculations of half lot sizes.

 

[wackypete2]

On your 10th trade you are risking 60x your original trade amount in the series. HOLY COW, that is no way to trade, bet, or gamble. There are no guarantees, don't fool yourself.

Peter

 

[oildaytrader]

On your 10th trade you are risking 60x your original trade amount in the series. HOLY COW, that is no way to trade, bet, or gamble. There are no guarantees, don't fool yourself.

Peter

I agree with the above , I am hoping my method is robust , and gives only has 5 maximum consecutive losses in practise.I also use the getting out early option on cutting out some winning trades, after a build up of consecutive losers, to reduce build of 10 consecutive losses.As an example , after 5 losing trades, I might close the trade for 10 pips and start 6 th trade as requiring only 14 pips to reach original target.

Another alternative and variation is to exit 6 th trade at 7 pips, start 7 th trade with half lots and exit for 7 pips and 8 th trade with half lots at 10 pips.

For each instrument there are separate betting sequences , and I use multiple betting sequences for each instrument.If there are 10 sequences being used , one has to have 100 consecutive losers to reach the 10 maximum on the excel sheet.

I am still playing around with this idea.It is working on trial.There is a danger of hitting 20 consecutive losers in a row.

 

[SvenFoster]

all these "methods" come about because people are scared of taking a loss.

Seriously you will make more money if you take a loss as your 1st bet size will always be a full position.

 

[oildaytrader]

all these "methods" come about because people are scared of taking a loss.

Seriously you will make more money if you take a loss as your 1st bet size will always be a full position.

Sven

Your point is very valid ,but when markets become irrational and every set up and trade doesn't work , you need big balls to beat the market always and every day.

The methods I use for this betting is very robust and reliable, the betting sequence adds to my edge of 70% profitable trades.

 

[oildaytrader]

I do not like 12 pip stops , so here is the new betting sequence.12 pips gets taken out very easily and very regularly.

This system gives me about 300 % a year , is back tested and is in forward testing.On $50k it makes around $150k a year.

 

[everyonerich]

just try on mt4 demo and give the read-only password here to let ppl see if you can make money or not.

 

[Splitlink]

What are your opinions on using the following betting method on Euro/usd,usd/yen and cable?

I am thinking of using it on this method using 15 min trendline break system.It guarantees me a profit almost everyday.

http://www.trade2win.com/boards/gen...ive-chart-patterns-set-ups-5.html#post1114872

After every loss increase bet size as per excel sheet.If consecutive losses increase, use option of talking half profit and restarting next trade as half trade size.See far right calculations of half lot sizes.

I only increase bet size after a series of successes. If I have too many losers I investigate what I am doing and start reducing my bet size until I get it sorted.

You are, virtually, trusting the market to give your money back at some stage, which is very dangerous. You be careful with that stratregy because your account size is limited---the market's is not.

 

[oildaytrader]

I only increase bet size after a series of successes. If I have too many losers I investigate what I am doing and start reducing my bet size until I get it sorted.

You are, virtually, trusting the market to give your money back at some stage, which is very dangerous. You be careful with that stratregy because your account size is limited---the market's is not.

Are you trading in the random zone to have so many losses?

 

[Splitlink]

I am a cautious trader and always try to go with an established trend but, if I get that trend wrong, I get out quickly and would not dream off increasing bet size to eliminate losses.

 

[kimo'sabby]

ODT,

Do me a favour, get a five min candle chart up on the eurdol. Highlight all the 50s and zeros, so you will highlight 500, 550, 600 with horizontal lines, yes, with me so far...good.

Next week watch the action around the 50s and 00s, the average daily volatility is about a ton fifty, if you can't make money of this action then there is something wrong with you.

Don't reply to this post, just do it next week.

 

[oildaytrader]

ODT,

Do me a favour, get a five min candle chart up on the eurdol. Highlight all the 50s and zeros, so you will highlight 500, 550, 600 with horizontal lines, yes, with me so far...good.

Next week watch the action around the 50s and 00s, the average daily volatility is about a ton fifty, if you can't make money of this action then there is something wrong with you.

Don't reply to this post, just do it next week.

Thanks

I did it , it worked and it made 60 pips for a few hours work.The price just traded around 50 and 100 and volatility broke out , just as you said and made me a load of pips.I only been using it for a few hours.

 

[oildaytrader]

Here is 200 pips profit today, as you see from below I have followed this betting sequence


Total 199.3 199.54 0.00

 

[megamuel]

ODT,

Do me a favour, get a five min candle chart up on the eurdol. Highlight all the 50s and zeros, so you will highlight 500, 550, 600 with horizontal lines, yes, with me so far...good.

Next week watch the action around the 50s and 00s, the average daily volatility is about a ton fifty, if you can't make money of this action then there is something wrong with you.

Don't reply to this post, just do it next week.

There is something wrong with me

 

[Rossini]

no there isn't mate.

 

[oildaytrader]

There is something wrong with me

All I am trading is this system to start with

http://www.forexfactory.com/showthread.php?p=3172056

It is my own version of the above system using a stochastic indicator on several time frames , a 20 pip stop and good money management.

Open a few demo accounts and practise, practise and practise.

Every time the trendline breaks and trend is exhausted (stochastics confirms it by reversing),take the opposite trade.Allow a two bar filter before taking opposite trade.

This method made 400 pips on euro usd last week.

If you benefit from my postings and are happy , give some money to charity in name of O D T.

I am planning to trade $1,000 per pip on this. , and have an expectancy of 20 pips daily

 

[oildaytrader]

Here is an update

I do not average down but use a betting sequence after every loss, every new position has a a stop loss of 20 pips, starting risk of 0.2 % on initial position,and increasing to a maximum risk of 3% and maximum 6 consecutive losses.I will only increase position sizes on high probability trades, and at a minimum grid of 30 pips.

I might use several betting sequences during the day, one separate for each instrument and occasionally running several betting sequences simultaneously on same instrument , these separate sequences are related to types of set ups/systems/method

Everyday I start fresh betting sequences and close at end of day, some days I take a loss but very rarely.

If I make only 50 pips a week, my profits will be far greater and will reflect the higher position sizes (averaged down/betting sequence).

 

[tommason]

not too be arrogant.
my profitable trades is higher than 90%, but my drawdown might be higher than urs.
mine is totally discretionary not calculated like urs.

Sven

Your point is very valid ,but when markets become irrational and every set up and trade doesn't work , you need big balls to beat the market always and every day.

The methods I use for this betting is very robust and reliable, the betting sequence adds to my edge of 70% profitable trades.

 

[oildaytrader]

not too be arrogant.
my profitable trades is higher than 90%, but my drawdown might be higher than urs.
mine is totally discretionary not calculated like urs.

Anybody can have 100 % profitability, if there is no stop loss .A better way of comparing profitability is profitability with a stop loss/drawdown.

 

[oildaytrader]

I use these betting sequences in high probability trades only.If I like an instrument , and it becomes more attractive and last trades were losses, I will re-enter with a higher positions size, only if it is a good set up and high probability one.