mike1booth
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Pretty weird that.
It was the GBP that was rising not the USD that was falling. Check out the EURUSD, which usual follows the same trend as the GBPUSD at this time in the morning.
Anyone know of news that would cause a surge in the GBP this morning?
Mike
It was the GBP that was rising not the USD that was falling. Check out the EURUSD, which usual follows the same trend as the GBPUSD at this time in the morning.
Anyone know of news that would cause a surge in the GBP this morning?
Mike
andybissell
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SL -45, 4 losses from 5.
FMT Account: £855 (-14.5%)
FMT Account: £855 (-14.5%)
wiseambitions hello,
You mean QQE from Fx Rebellion?
Fx Rebellion is my safeguard. Every time the market goes oposite to FMT I take signals from Fx Rebellion 15min or 30min chart and I get BE or take a little profit (3 or 5 pips).
I think FMT is a great system but in those cases when FMT goes to bad, my secondary system make me get a win from a lose.
You mean QQE from Fx Rebellion?
Fx Rebellion is my safeguard. Every time the market goes oposite to FMT I take signals from Fx Rebellion 15min or 30min chart and I get BE or take a little profit (3 or 5 pips).
I think FMT is a great system but in those cases when FMT goes to bad, my secondary system make me get a win from a lose.
Tenapenny
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Markets pre-empting the news?
andybissell
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http://www.forexfactory.com/calendar.php
ECOFIN meetings could be affecting the Euro.
No news affecting GBP for another half hour (CPI y/y)
wiseambitions
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Hi the setting I have on QQE is not as fast as it runs in Rebellion, but I agree with you it's interesting to have his chart up, and I do this to watch crossovers on 5EMA etc . I find his QQE is tweaked to be a bit too sensitive to the movement for my liking but I agree I find it an intelligent indicator
Good point, was 5 now 3
wiseambitions
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Unfortunately this wasn't our luck. Perhaps you had the 'wrong' timescale for your charts or your broker had an interruption in price data in the preceding ours. Please edit out the indicators as this is not a closed user group.
Tenapenny
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Depends on your broker feed. No trade for me.
wiseambitions
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A few bits of data here about % risk per trade.
Reminds me of the Law of Diminishing Returns. Which says something like the more you feed your garden the more vegetables you'll grow, until you get to a point where you poison them off and get nothing!
Taking the set of 40tp/40sl, which is easy. And starting from 1/1/2011, rolling up daily.
At 2% risk you'd be up by 20% by end of 16/5/2011
At 5% up by 50%
At 10% up by 90%
At 15% up by 99%
At 20% up by 74%
At 25% up by 25%
The optimum looks to be around 15% risk per trade. But a loss tomorrow would probably overthrow that result. Before the recent string of losses I would dare and say that the system would have worked best with a risk of 20% or more, but at the present rate this could decimate the account.
Better luck soon please FMT
Reminds me of the Law of Diminishing Returns. Which says something like the more you feed your garden the more vegetables you'll grow, until you get to a point where you poison them off and get nothing!
Taking the set of 40tp/40sl, which is easy. And starting from 1/1/2011, rolling up daily.
At 2% risk you'd be up by 20% by end of 16/5/2011
At 5% up by 50%
At 10% up by 90%
At 15% up by 99%
At 20% up by 74%
At 25% up by 25%
The optimum looks to be around 15% risk per trade. But a loss tomorrow would probably overthrow that result. Before the recent string of losses I would dare and say that the system would have worked best with a risk of 20% or more, but at the present rate this could decimate the account.
Better luck soon please FMT
andycon
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It all comes down to drawdown, and risk, You could do stats that show the system has never had a drawdown of more than x amount of trades and therefore you can risk x % of your account. But things change and trading at any more than 5% of account puts you at extreme risk should there be an extended losing period. (8 or more in a row). Just because the stats say something has not happened before does not mean it will not happen in the future. I would recommend reading Nicholas Taleb's book the Black Swan. Even though I joined just recently, I don't think the losing streak is to bad yet.
Hi Remraf. Yes I had decided to do them with the same thought. The results are in post
#10130.
