How not to make money trading the markets

[Hotch]

Not even using a coin most of the time, there's a flip coin function in the chatzy room we use, but no, anything really.

 

[pips-galor888]

Germans are never wrong !!!

Never being wrong does not make you right either

I'm considering using this approach for my kids Child Trust Fund.

I'm sure it would do better than the 13% loss that the "Professionals" have made over the past year!

 

[Hotch]

Never being wrong does not make you right either

I'm considering using this approach for my kids Child Trust Fund.

I'm sure it would do better than the 13% loss that the "Professionals" have made over the past year!

Don't do it!

 

[Hotch]

Don't know why I put orders on Friday night.

It is bad for the strategy, but more important it causes me a lot of hassle as I gap past the limit orders. Won't be done again.

 

[Hotch]

Well currently account is at £565.07....or £573.27.

IG has the small amount, I guess they're right, I just can't find my error. Will have another look tomorrow. I'm getting far too lazy to put on calls. You can always come get them from chatzy, and if i figure out where the accounting error is I will post up some spread sheets.

For now though, I'm not sure what to do with this, I will continue, but I might change the rules somewhat.

Thoughts anyone?

 

[Hotch]

Yeah, some bad accounting on my part (still seem to have £3 from somewhere which I can't account for).

Anyway, balance is £575.16, and that seems to agree with my excel. Current positions are at roughly B/E

see what happens in the morning.

Hugs!

 

[Hotch]

Apologies

Sorry for not keeping this up to date, am still trading it. Just want to find something with a few more trades, daily is a bit boring.

Anyway, attached is a spreadsheet with all the trades taken.

 

[elitejets]

Well you are clearly mad ... and madly profitable.
Nice experiment

 

[pips-galor888]

Hotch, you still doing this experiment?

 

[kristian8]

go for it !

 

[Hotch]

Hotch, you still doing this experiment?

Yeah, still going, just got a few accountancy errors, about 40-50% up, going to sort it out over the weekend.

 

[Hotch]

Right, Currently up £210.58 (approx 42%)

Going to leave it here for now, might of made a huge error in back testing. :O

 

[Technically Fundamental]

wtf is a 5% stop?

 

[Hotch]

A stop at 95% of the price if it's a long and 105% of the price if it's a short.

 

[Technically Fundamental]

whats the basis of using that kind of stop?

 

[Schixm]

i think this is great. but you know, on a more serious note it also kinda validates the effectiveness of diversification. by spreading risk over several instruments (even if entry is based on a coin toss). perhaps if you had traded just one instrument, the odds might have stacked up less in your favour? i think your profit is simply be the result of excellent (albeit unwitting) diversification among the currency pairs. who knows, eh?

 

[Vaco]

out of curiosity do you place the trades at the same time each day?