trendies FTMO Adventure V: Revenge of the RSI

trendie

Legendary member
All sorted.

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trendie

Legendary member
Reading the analysis is a sobering experience.
They have no emotional attachment, so their views and insights brought me a clinical insight.

Negatives: I have a negative RRR. (0.98)
They say that this may be an issue long-term.
Also, the ratio between the Max Profit (418.14) and Max Loss (-587.23) is negative at 0.71.

My view is that the last couple of days trades were just to pass the Challenge, so were throwaway trades.

I acknowledge the size of wins and losses, but these were outliers.
The single losing day, of -972.12 was an anomaly, where I sort of managed my way out.
Firstly, I shouldn't have let it get away so far. Secondly, I should have taken the aggregated loss of around 300 when I had the chance. (Sep 16th)

I had 9 winning days averaging 519.34, and losing day of -972.12.
If I can replicate this consistently, I would be ahead most of the time!

Here again, the last 2 days of piffling trades skews the Avg Day lower.

Learning Moments:
Take the loss! (I have a real problem here, as averaging out I am finding is better, but FTMO rules doesn't allow a wide enough Drawdown for me to trade like this.)
Also, no holding over the weekend doesn't fit well with hedging and aggregating, unless opened in the earlier half of the week.

Still musing over the (small lots & large number of pips) and (large number of lots & small number of pips) conundrum.

Either way, this is a good format to trade, I think.

I have got my e-Certificate!
 

trendie

Legendary member
I have been sent my credentials for the Verification Phase.

Wondering if I should stick to this thread, or start a "V for Verification" thread.
(cant think of any sci-fi films whose titles I can parody)
 

trendie

Legendary member
You could choose the swing account type to hold positions overnight or over the weekend if you don't need to trade higher volume. Leverage is 1:30 - if they set it right. If not: -> ticket (as I did for US100 ;))
https://ftmo.com/en/faq/do-i-need-to-close-my-positions-overnight/
For me, even then, I am willing to stomach anything upto 20-25% drawdown.
If I re-calibrated to fit within the Max Limits, I would expect a lower return on the upside.
I think I prefer the idea of finessing my entries, and going for large lots / small pips.
 

trendie

Legendary member
Then, again, let me get sorted on the normal one.
Then, after I'm settled in, go for a Swing Account.
 

IlIlIlIlI

Established member
Then, again, let me get sorted on the normal one.
Then, after I'm settled in, go for a Swing Account.
Since they offer the swing account, I'm trading it in my trials as 9 lots US100 can be traded with 1:30 leverage and that is more than enough to manage a 100k USD account in line with the rules.
I know I should trade significantly less because of the loss limits. ;)
But with the swing account type I never have to think about weekends, holidays, overnight trading and technical issues in the wrong moment. The limits are the same as with a regular FTMO account
 

trendie

Legendary member
Verification Day 1:

Today, started catastrophically, and then deteriorated rapidly from there!

I took a controlled loss on the US30, then took another short, married it, then kept adding to a losing trade. Managed some sort of hedging, but not enough.
But, did close all out for near the Max Daily Limit.
So, there's that!

I still cannot fathom why I fixate on shorts. I will call it the Bart Simpson Syndrome.
Anyway, I live to play another day.

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trendie

Legendary member
I was hanging my trade additions on the level 34110 holding.
It didn't!
I also have a habit of starting to look at the tick chart once I am in a trade!
The first trade failed because I took a break of a level, but the market spiked away from me.
The same thing happened on the second trade. I took a level break, but the market spiked me again.
So, I end up entering at the worst price possible.
But the upside is, if taken correctly, you are in profit pretty much immediately.
I haven't mastered this skill, as yet.
 

trendie

Legendary member
No trades today.
Traded demo, to get over the horror of yesterday.
 

trendie

Legendary member
OK.
Demoing only for past couple of days.
I think I have got "it" out of my system.
I was utterly offended by my behaviour on Tuesday.
Completely did not follow any rules, or more precisely, tried to second-guess them.
Really upset with my actions.

I think its one of those psychology things.
I am a programmer. I work by rules. I expect that if I do the correct thing, I am "entitled" to an outcome.
Obviously, I can do all the right things, and still lose. I can do all the wrong things, and win.
I think this where perfectionism comes in, or performance anxiety.
If I do the thing I am trained to do, I want the outcome that I planned.
Its not "right" that I don't get the outcome I had planned.

I still believe in my pullback method.
I think it is robust method to find minor pullbacks in a larger trend.
Looking for OB positions in downtrend, and OS positions in an uptrend is a robust technique.

Small-stakes trading, by EA, across multiple charts is easy.
Larger stakes trading over just two charts becomes personal.

I am not sure if looking for trading targets work. If the market permits, I should be riding trades for as along as possible.

Actions:
01: Abandon hedging for the time being. I dont have enough margin allowance to make it work with FTMO.
02: Return to journalling the reasons for all trades.
03: Reduce the number of lines on my charts! I have been using them as crutches for too long.
Make charts clearer.
04: Reconsider the use of a certain indicator to define trend. If the market goes sideways for too long, the indicator is no longer reliable. Recognise this, and have more confidence in certain patterns that are more accurate.
05: Draw, and I am actually getting good at this, Sup/Res lines, and trust myself in their utility.
05a: Problem here for automation is that I cant automate Sup/Res lines, as these are manually determined. Dont trust any free indicators that supposedly draw Sup/Res automatically.
06: Possibly, trade other charts, using small stakes, just to spread out my attention, and to build portfolio of trades.
07: Stop marrying trades! They are no good for me; they just leave me, and take half my account.
When will I learn?!

I will return to trading the Verification process from Monday.
I am closing this week with a loss of 5%, pretty much -1,750£.

Despite my abysmal week, I hope the rest of you guys had a profitable week.
Enjoy the weekend, unwind, and prepare for another great trading week.
 

IlIlIlIlI

Established member
On most of the relevant conditions for your next trading day, you have now the same limits as you had in the challenge which you mastered in less than 10 days. But you have much more time to pass the verification.
Markets were difficult this week and I don't expect an improvement for traders in the next week, but more volatility because of the Triple Witching Friday.
I wish you a nice weekend, too.
 
 
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