peterf1966
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Timing your exit is crucial on days like today , market although trending was indecisive
without much momentum. +15.2 (with an early exit)
And early for me for 13. Should have trailed stop from 8 as I have done recently, would have had +20, oh well.
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Charts were looking quite good for the day with a slow rising channel - we were in with the longer trend... Was tempted to hold until the 14520 area... But has slowed right down... If I had nothing else today I would be looking for an opportunity to buy if there was a +ve channel breakout... There was lots of support below us today and entry also confirmed with higher timeframe - a good trade
I was only +8 but closed it off a few minutes later than I should have (driving and trying to close a trade not recommended, luckily there was a long red light to allow me to do it).
Still, my first profitable trade using the system. Onwards and upwards!
Still, my first profitable trade using the system. Onwards and upwards!
mark120169
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And worked well this morning, I see! Into the red as I write, after a nice start.
Are you feeling sarcastic today Peter?
Actually MNT demo banked it's +10 pips @ 6.33am!! Both my NT & MNT Demo open oders where submitted by 6.30.30.
They where tripped @ 6.32 and MNT banked it's +10 pips 1 min later.
Normal NT I closed @ 8.30 for + 10.8 pips.
M
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peterf1966
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Are you feeling sarcastic today Peter?
Actually MNT demo banked it's +10 pips @ 6.33am!! Both my NT & MNT Demo open oders where submitted by 6.30.30.
They where tripped @ 6.32 and MNT banked it's +10 pips 1 min later.
Normal NT I closed @ 8.30 for + 10.8 pips.
M
No, I meant MNT genuinely worked well after the good start, just that when I posted, normal NT was in the red by about 10 pips I think, but came good.
Still got the chart on from before, near 100 pip drop last 1/2 hour, has some news happened? Might see if there's a rally and get in, and spunk some of ETX's money on it, as you put it
mark120169
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No, I meant MNT genuinely worked well after the good start, just that when I posted, normal NT was in the red by about 10 pips I think, but came good.
Still got the chart on from before, near 100 pip drop last 1/2 hour, has some news happened? Might see if there's a rally and get in, and spunk some of ETX's money on it, as you put it
Good lad. Thanks about MNT. Like I said before I noticed the last 4 weeks after a NT trade triggers the market moves in NT favour by 10 pips within 1 candle timespan 80% of the time. Today was bloody quick.
Not sure what sppoked the markets will put bloomberg on the TV and take a 15 min break.
M
mark120169
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Still got the chart on from before, near 100 pip drop last 1/2 hour, has some news happened? Might see if there's a rally and get in, and spunk some of ETX's money on it, as you put it
Fitch Ratings describing the scale of the Uk Fiscal Challenge as "Formidable".
link below to news :
http://uk.reuters.com/article/idUKLDE6570TK20100608
M
Wise to get out before releases such as that - but maybe an opportunity to catch the bounce back
So it is not all bad... On a different note... Another idea - well a combination of previous ideas...
It looks as though MNT may prove an asset... How about a NT + MNT combination? - which would be same as the staggered TP suggested previously -
ie 2 orders setup:-
1. With MNT take profit
2. Existing NT rules
(This could of course be 1 larger order but then you would have to follow the trade to take a portion of profit at +10) - if 2 separate orders then 'set and forget' is retained...
Then it would be a matter of deciding how that total lot size was split between the 2 orders (variations from 50/50 possible depending upon your risk level)... One such ratio which maybe worth seriously considering is 75% MNT/25% NT - this would mean that if +10pips were hit AND the NT trade went on to -30 loss there would be an overall 'zero' trade - no win / no loss... Under these circumstances if the MNT made +10 then the worst you could do (assuming no slippage) is break even - if the NT trade does not hit the stop then the overall trade is in profit... Cunning money management...
More thoughts thrown into the arena
peterf1966
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I think one of the reasons NT exits at 8.30 is to avoid announcements that might go against us.
Dunno about a bounce but I did go for it, bought at 14400 and a +50 target, which would be only half way back - and it's about +10 as I'm writing, if it hits 14430 will start trailing, lets see what happens.
Dunno about a bounce but I did go for it, bought at 14400 and a +50 target, which would be only half way back - and it's about +10 as I'm writing, if it hits 14430 will start trailing, lets see what happens.
mark120169
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On a different note... Another idea - well a combination of previous ideas...
It looks as though MNT may prove an asset... How about a NT + MNT combination? - which would be same as the staggered TP suggested previously -
ie 2 orders setup:-
1. With MNT take profit
2. Existing NT rules
- if 2 separate orders then 'set and forget' is retained...
Then it would be a matter of deciding how that total lot size was split between the 2 orders
More thoughts thrown into the arena
This was my original idea. Read my post #1202 on Page 151. MNT was my idea to compliment NT and run in parrellel. The idea that MNT seesm to bank 10 pips often on days when NT just goes into a loss. Obviously dual max losses like yesterday can happen sometimes. (Grrrr......still peeved about the net 27 stop limit travel on a sell order in Vanilla NT)
So in theory when NT wins MNT also wins an adds to the profits, but when NT looses and the market has moved 10 pips in your favour before the change of direction against you MNT would have banked 10 pips offset the loss.
You can either a) spilt your stake somehow between the two systems and hopefully end up overall more in profit than just NT alone or b) double the pot risk to 4% buy placing one NT and one MNT daily at your old stake.
Hence I am now dual testing option B with NT live as normal and MNT on a demo account same stake as NT and logging the June data.
I will trial it "live" Mid July school holidays once I can be at a PC daily @ 8.30 with an "offer" account such as ETX Capitals £250 to cover any losses should it go badly wrong.
If anyone wants to trial MNT live now via an offer account that covers losses that would be great.
M
Should be able to scape some pips during the consolidation.. Lowest has been for > a year...
But the GBP will take a battering as the scale of the national deficit is revealed....
This may require a little thought... It maybe worth considering increasing the risk on the MNT part of the trade due to its high win percentage... Hence 75 MNT/25 NT ratio... So if 4% total risk = 3% MNT/1% NT... Which is still quite conservative... Splitting the 1 order would mean manually trading out 75% of the lot at +10 - which of course means following the trade (not ideal)...
The problem with opening 2 orders is that you cannot have 2 order/deal screens open at the same time so there will always be a delay between entering the 2 orders - which will be ok in a slow moving market... But during a fast paced market it may prove impossible to align the entry price of the 2 orders...
peterf1966
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Yes - just read a yahoo news story on this report - the new government agree with it, and will take steps, Cameron was on TV last night softening us up for cuts, so why the sudden panic?
Anyway, not so much a bounce back, as a slow limp back at moment, I am up 32, and trailing now.:clover:
mark120169
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Ok update....to avoid confusion have now invented "Two Net Trap" (TNT) which is NT+MNT combined daily which are the results below.
No.......did not have access to the Data.........only backtested MNT to when I started NT Mid May...........but again you miss the point with the above Data. MNT is NOT a replacement for NT, is a complimentary smaller profit taking system designed to run in paralell daily with NT and enhance NT on winning days but help claw back losses on loosing days.
Combined system is now called "Two Net Trap" or TNT
So..........lets look at your results again combining NT & MNT monthly. As TNT.
Month NT + MNT Combined total Extra MNT profit
Jan 2010 125 + 56 = 181 +56 pips
Feb 2010 -29 + 46 = 17 + 75 pips
Mar 2010 154 + 86 = 240 +86 pips
Apr 2010 139 + 49 = 188 +49 pips
May 2010 37 + 79 = 116 + 79 pips
June 2010 (TD) -10 + 60 = +50 +60 ips
NT total 6 months to date = 416 pips
TNT 6 months to date combined = 792 pips
Extra MNT profit given to NT system +376 pips!!!
Now this is amazing data! More to the point do you see how MNT transformed NT results during the so far volitile Euro months of Feb, May and June so far........now all winning months in positive territory.
Am I clever or what! :smart: But IG users got mixed results from Monday so I class this as loss day for NT & MNT without a modifed 33 sell order stop. And As got this actual result I can't ignore it. So I make June todate -20 pips combined.
Comments please.
No.......did not have access to the Data.........only backtested MNT to when I started NT Mid May...........but again you miss the point with the above Data. MNT is NOT a replacement for NT, is a complimentary smaller profit taking system designed to run in paralell daily with NT and enhance NT on winning days but help claw back losses on loosing days.
Combined system is now called "Two Net Trap" or TNT
So..........lets look at your results again combining NT & MNT monthly. As TNT.
Month NT + MNT Combined total Extra MNT profit
Jan 2010 125 + 56 = 181 +56 pips
Feb 2010 -29 + 46 = 17 + 75 pips
Mar 2010 154 + 86 = 240 +86 pips
Apr 2010 139 + 49 = 188 +49 pips
May 2010 37 + 79 = 116 + 79 pips
June 2010 (TD) -10 + 60 = +50 +60 ips
NT total 6 months to date = 416 pips
TNT 6 months to date combined = 792 pips
Extra MNT profit given to NT system +376 pips!!!
Now this is amazing data!
More to the point do you see how MNT transformed NT results during the so far volitile Euro months of Feb, May and June so far........now all winning months in positive territory.Am I clever or what! :smart: But IG users got mixed results from Monday so I class this as loss day for NT & MNT without a modifed 33 sell order stop. And As got this actual result I can't ignore it. So I make June todate -20 pips combined.
Comments please.
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