College Fund Challenge

[tkbieber]

That sell last week ended in a loss so I went up on the risk on the 15 min chart. Because there were something like three good trades in a row before that loss, I didn't go up on the risk as much because I didn't need to. I got one good trade this morning so just one left and I'll bring that risk down and will all be at low risk again. :cheesy:

 

[tkbieber]

One last trade is now open. If it closes in profit I can reduce all risk down to 10%.

Waiting.

 

[bushmanusa]

am i reading this right...you have equity of 57% right now? Is this a huge drawdown?

 

[tkbieber]

am i reading this right...you have equity of 57% right now? Is this a huge drawdown?

67.25% DD, yes because it is trying to recover from a loss the other day. Otherwise the DD would be 10% max.

 

[Hotch]

67.25% DD, yes because it is trying to recover from a loss the other day. Otherwise the DD would be 10% max.

"If I didn't lose, I wouldn't have as high a DD."

NSS

 

[marbig]

Masquerade, I am a cynical and jaded professional trader who has seen it all and heard it all before. So don't think that I am a soft touch.

BUT his trading method is built on high risk/high return basis. (He has previously tanked his two previous accounts.)

BUT he is slowly but surely morphing his method into something less extreme and much more interesting.

AND even though he has lost 60% of his account, it is still alive and showing 10.98% over a 10 week period.

Admittedly it is a wild ride for his trading, BUT he has shown persistence with his method and it is interesting to watch his trading progress using a purely mechanical system.
I agree with you that he SHOULD show his open trades (I think that he is being dishonest to the max OR maybe he is being unnecessarily paranoid), but I am prepared to cut him a bit of slack for a while as he continues to work to progress his mechanical trading.

This method has copped a bit of a beating in the last couple of weeks but as long as it is recognised to be a high risk-high reward, wild ride it is still interesting to me.
After a number of heavy hits, it is still up 26% over 3 months.

 

[marbig]

Thanks. I agree that 40% is big. The flaw I have with this system is if there is ever 3 bad trades in a row, that just devastates the account. In the last year and a half, I have not seen that but it's just a matter of time I'd say.

The key at this point is just just not start with as much of a risk. Maybe 3% risk starting out so that one could afford to go through three bad trades in a row and survive.

I think you are on the right track. Good luck. This EA is morphing into something that is getting very interesting.

 

[tkbieber]

This method has copped a bit of a beating in the last couple of weeks but as long as it is recognised to be a high risk-high reward, wild ride it is still interesting to me.
After a number of heavy hits, it is still up 26% over 3 months.

Ok, drama is over and I'm back to risking 5% on the 15m charts and 10% on the 1h chart. I'm up +98% for the time being.

 

[traderman1]

The flaw I have with this system is if there is ever 3 bad trades in a row, that just devastates the account. In the last year and a half, I have not seen that but it's just a matter of time I'd say.

3 losses in a row is inevitable. It is not a flaw in the system, it is an inherent and obvious timebomb just waiting to blow up.

 

[traderman1]

I agree with what you say above, but as stated by shewolf his 'first EA lasted less than 4 months before spectacularly collapsing with two huge 60% losses (2 x 250 pips) which busted his account and gave him a MINUS 36% loss'.

The problem with saying that ' if there is ever 3 bad trades in a row, that just devastates the account ' , it doesn't just mean that your account is taken down to zero.
As seen in the previous EA, 3 losses would take your account DEEP INTO THE NEGATIVE.
In other words, you would lose ALL your profits PLUS all of your initial capital

 

[marbig]

What happened to the links to the MyFxBook.com page showing the progress of this trading system?
Has this thread just been killed?

Edit: Seems that tkbieber has deleted the account
http://www.myfxbook.com/members/collegefund/college-fund-2m-goal/159340

 

[deebee1]

looks that way.....

 

[tkbieber]

Ok, well this month is +63%. A nice recovery from January. I had two GBP trades open last night for a total of 55 pips. I still have a jpy and a gbp open.

 

[tkbieber]

The gbp had a loss a couple of days ago so I get to double up on the next trade.
The jpy had a loss as well but I won't double up on that, I just leave it be.

 

[bushmanusa]

Have you found any new EAs that you like or any new settings on morning trade that you have changed?

 

[tkbieber]

Have you found any new EAs that you like or any new settings on morning trade that you have changed?

I haven't changed my MT settings for awhile now. I'm fairly pleased at how it works. Another system I use is "Tom's EA". I've had good results with that EA.

 

[mjj]

I haven't changed my MT settings for awhile now. I'm fairly pleased at how it works. Another system I use is "Tom's EA". I've had good results with that EA.

Tom's EA blew up my $1500 micro account during the recent cable trend. Stay clear...it is nothing but a martingale. You will get steady good results for months...until a continous strong trend. Then you get a massive draw down and the ultimate margin call.

 

[tkbieber]

Tom's EA blew up my $1500 micro account during the recent cable trend. Stay clear...it is nothing but a martingale. You will get steady good results for months...until a continous strong trend. Then you get a massive draw down and the ultimate margin call.

Yeah, I was aware of that and I did have a good DD just a week but it came back even with a good trend. His account had the same DD. Just don't leverage too much to start with.

 

[mjj]

Yeah, I was aware of that and I did have a good DD just a week but it came back even with a good trend. His account had the same DD. Just don't leverage too much to start with.

As a matter of interest...what leverage are you using on your broker account running Toms EA?

 

[tkbieber]

As a matter of interest...what leverage are you using on your broker account running Toms EA?

I use $1,000 per currency with medium (2) risk.