8/11/2010
The losses are gone:)
It took 2 months and 11 days to get back from the worst drawdown in my trading. I think it is not bad at all considering the enormous risk I use in my trading! The only thing we need is to trust the system, stick to it and learn along the way... I hope I reach 3k soon and will be able to lower my risk per trade.
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Congrats!!!! It shows stick to the rules and it will pay off.
ReplyDeleteLee
Exactly! Discipline, discipline, discipline!:)
ReplyDeleteHi Slurpee,
ReplyDeleteDid you not suffer slippage on your USDJPY short on Tuesday when the FOMC statement came out? I had several brokers put me in 10 pips worse than the stated entry at 86.63. Surprised if you didnt get a single pip of slippage.
Hi John,
ReplyDeleteI am sorry to hear that... But I didn't get a single pip slippage! You can check that trade when you click on myfxbook link. There are all the trades listed and as you can see, my entry was 85.63 and the lower band is 85.64. So my entry is exactly where it should be... My broker has some bugs for sure, but I have never experienced a slippage... Sometimes it takes a few seconds to put in the trade (it lags) and sometimes it requotes, but no slippage so far...
Congratulation, your discipline get paid off!! Anyway, you have not actually stick to the orginal rule 100% right. I wonder if we really stick to the original rule, it can be as good.
ReplyDeleteHi Anonymous,
ReplyDeletethank you, I hope you are doing great too! Well, for last week or two I took out moving of my SL more than 2 pips. I just let it where the band is (and it paid off), only if I see the price reach almost the TP, I move it to BE or more pips to lower my possible loss. I am not able to sit at my comp all the time, so sometimes I just put the stop orders in and leave it be until late afternoon or night and then I do some due diligence... Also what I do if I have time, I try to squeeze more pips if I see no resistance in sight or strong price action. I believe the system works itself if you let it just be as well. I still have to learn a lot and will try hard to improve my trading of course...
Good luck
All the manual back-testing I have done with the 1MD strategy does suggest that it works very well 'out of the box'. However, I too have added a few 'tweaks' which is mainly to reduce the drawdowns.
ReplyDeleteI must say that I have found no evidence that using trailing stops actually improves the results, and my only adjustment to the SL is how Tomas handles it (i.e. don't let a near winner end up a loser - just get out at b/e and call it a scratched trade).
Also, as a note to anyone backtesting using the EA, please note that the results will differ to the manual back-tests, as the EA will NOT open a trade during the following night (e.g. during the Asian session). This differs from the manual, which says to keep all pending orders open until the next day.
Hello all,
ReplyDeleteWhen does everyone close there open trades? Do you leave them open up until the time you are about to put the new orders through or do you cancel them earlier?
Cheers,
Lee
I always leave mine open until just before placing the new orders. That way, I am always "in the market" to catch the start of any move. I would also be interested in knowing what others do.
ReplyDeleteDave
Hi Dave,
ReplyDeletethanks for your post! It is really appreciated...
Hi Lee,
ReplyDeleteI do the same as Dave. I close the opened Buy stop/Sell stop orders just before entering the new trades. Sometimes I do that like and hour or so earlier, when the price is far from the orders.
I was also thinking of trading the GJ. Has anyone else had any sucess with this pair?
ReplyDeleteHi Anonymous,
ReplyDeletewell, I don't like this pair since I have bought the system. From just simple watching the past I can tell it doesn't probably give very good results. Add bigger spread and it is sure NO for me... I tried EJ but it didn't work well either (maybe it was too short period). I tried it in may and June and it help the DD I had. Since then, I trade only GU and UJ and I am happy with that.... But that is just me...
Tomas
ReplyDeleteYou are an inspiration and I thank you so much for this blog. Your kindness has given me the confidence in myself and this system. I will look forward to sharing in your success!
Kind regards,
Phil
Hi Phil,
ReplyDeletethank you for such nice words! I hope you have done what I told you:) Lower your risk, stick to the plan - place the trades and go away until next day... What are your results lately? write here or send me an email, if you want.
Take care and good luck!