In search of minimum wage

hayseed

Master Trader
Jul 27, 2010
839
215
109
usa
chance favors the prepared......

line'em and let's play......h

//----

audcad-d1-oanda-division1-a.png


//-----

nzdcad-d1-oanda-division1-b.png

//----
eurcad-d1-oanda-division1-c.png


//----

audusd-d1-oanda-division1-d.png

//----

nzdusd-d1-oanda-division1-e.png

//-----

usdchf-d1-oanda-division1-f.png
 

hayseed

Master Trader
Jul 27, 2010
839
215
109
usa
if barry bonds would have worried about his 1539 strikeouts, he probably would not be the all time home run hitter, at 762......

if babe ruth would have let his 1330 strikeouts get the best of him, his 714 home runs would not exist......

we all strike out..... this might be my week to....

swinging harder than normal.......h
//------

strike out.png
 

hayseed

Master Trader
Jul 27, 2010
839
215
109
usa
What is your trade close criteria? Other than TP?
//-----

that's a different account than the minimum wage...... the close criteria in it is always the same, roughly 1000$...... nothing else......

but this week the minimum wage account will be the same....... 1000$...... smaller lot sizes though....... largest trade in it is 0.21......

100 pips should do.....h
 

hayseed

Master Trader
Jul 27, 2010
839
215
109
usa
minimum wage has lower max size, 0.21, so i can keep pecking away with smaller lot trades......

over all still looking for +/- 1000 here ...... -1000 is always possible.......h
//------
minimum wage.png
 

TradeChaser

Active Trader
May 12, 2020
157
6
34
30
So is that to say you don’t close an order until the open P/L is -$1000?

Are you closing them Friday’s as well, or leaving open?
 

hayseed

Master Trader
Jul 27, 2010
839
215
109
usa
So is that to say you don’t close an order until the open P/L is -$1000?

Are you closing them Friday’s as well, or leaving open?
//----

no, if the account gets to 1000, roughly, i'll close them...... if a small order is still negative i'll leave it over the weekend...... that other account has almost 2 standard lots open with some pendings also...... 2 standard lots only needs 50 pips to make 1000...... or loose 1000......

sometimes if atr is left and the zigzags are yet to break i might let them run longer...... weekly atr on those pairs is over 150 each......

so i'm not askin for much...... probably get less......h
 

hayseed

Master Trader
Jul 27, 2010
839
215
109
usa
today was one of those days that test our convictions......

in trading, there's half a dozen neat little sayings often tossed about...... things like don't add to a loser or don't let a winner turn into a loser and so on.....

some might see them as hard and fast rules...... to me, they are nothing more than neat little sayings that i sometimes follow...... and sometimes not.....

today was a follow day......

the don't let a winner turn into a loser had me manually closing most of my positions as the profit was slipping away this morning after that cpi number......

then the 60 minute up bar began retracing along with the inevitable second guessing....

would i do it again..... yes, without a doubt or a seconds hesitation..... because there have been plenty of times it did not retrace.......

and a winner turned into a loser......h
//-----

winner loser.jpg
 

TradeChaser

Active Trader
May 12, 2020
157
6
34
30
This is good stuff, man. You're printing money, and it shows what can be done to those that dedicate themselves to it. And hearing you in your videos, and seeing how you speak to people, nobody is second guessing the validity of what you post.

Great stuff, indeed
 

hayseed

Master Trader
Jul 27, 2010
839
215
109
usa
do you have any plans on the eurcad now or in the near future...... say over next 6 days......

or, speaking of zigzag,...... audusd...... nzdusd...... are you watching the daily counts...... what follows a red 1......h
//-----
//----

audcad and nzdcad might be worth some zigzag thoughts...... in two hours we'll know for sure......h
 

hayseed

Master Trader
Jul 27, 2010
839
215
109
usa
fourth week update...... do not , everyone thats been around awhile will agree with me, do not read anything into 4 weeks results.....

or 5 weeks for that matter......h
//-----

has it really been 4 weeks..... yep, seems as though...... dang..... time flies......

minimum wage..... here locally it's 7.25 an hour..... roughly 50$ a day..... 250$ a week..... 1000 a month...... we made it.......

so what now...... how do we improve,,,,,

imagine a profitable system that bought or sold when the 33 moving average crossed the 50 moving average.... we might think by using 32 would improve results because it's quicker to cross.... what about 31.... or 30.... or or or.....

even thought it seems plausible, it's rarely the case in the long run..... odds are simply changing from a rsi periods from 14 to 13 will not make more..... nor will moving overbought/oversold values on oscillators by 1...... there is a better chance a small parameter change it will turn the winning system into a losing one.....

so what now...... how do we improve...... or is 7.25 a hour enough......h
//----

week 4.jpg
 
  • 👍
Reactions: Enivid

TradeChaser

Active Trader
May 12, 2020
157
6
34
30
Hayseed -

Have you dabbled at all with MQL5? I know that you, in your videos and posts, have mentioned that a lot of the dashboards, EA's, and data mining type scripts can be very pc intensive. From what I have read, it appears that MQL5 makes much more efficient use of the processor...

I almost wonder of MT5 would be a good researching tool where mt4 would be a good trade executor.

Would love to know your thoughts!
 

hayseed

Master Trader
Jul 27, 2010
839
215
109
usa
I almost wonder of MT5 would be a good researching tool where mt4 would be a good trade executor.
//----

mt5 is probably better at both...... spent some time with it when it first came out...... it was not offered by any broker i have used so my attention turned back to mq4.....

from a creativity aspect, mq5 wins hands down.....h
 

hayseed

Master Trader
Jul 27, 2010
839
215
109
usa
fifth week update...... do not , everyone thats been around awhile will agree with me, do not read anything into 5 weeks results.....

or 6 weeks for that matter.......h
//-----

pairs only move so far before the inevitable lower timeframes retrace of some amount...... might last days or weeks.....

give it time to rest..... be flexible..... switch to another pair...... don't ride a good horse into the ground.......

it's a long walk back to town.....h
//------

week 5.jpg
 

hayseed

Master Trader
Jul 27, 2010
839
215
109
usa
pairs only move so far before the inevitable lower timeframes retrace of some amount...... might last days or weeks.....

give it time to rest..... be flexible..... switch to another pair...... don't ride a good horse into the ground.......

it's a long walk back to town.....h
//------
//-----

and now we must look into the future...... a month at minimum..... the worst losses often come after the best wins.....

there is nothing wrong with chasing the trade, as long as your still well within sight of reason...... .h
//-----
future.jpg
 

hayseed

Master Trader
Jul 27, 2010
839
215
109
usa
ahso tokyo......

right about now theres a couple million japanese housewives telling the market, 'we told you so'.......

can hear'em clear over here......h

//------
eurjpy-h4-oanda-division1-ahso.png
//-----
 

TradeChaser

Active Trader
May 12, 2020
157
6
34
30
Hayseed, what was the drawdown on this play? Looking at the entries, I am assuming this was begun by placing orders as signals became exhausted... That is the only way I can see you picking the top so perfectly.

I know you're current Drawdown is minimal, but I am curious what the pain level was for this trade. I think getting an understanding of what kind of pain threshhold you have for the minimum wage challenge can help understand how aggressive one needs to be if they wish to replicate this!
 

hayseed

Master Trader
Jul 27, 2010
839
215
109
usa
pairs only move so far before the inevitable lower timeframes retrace of some amount...... might last days or weeks.....
//----

time to let the dust settle..... have a handful of trades with overall negative total.....

there was a toy we had long ago with little prairie dogs that popped up ........ we tried to whop'em with a plastic bat thing before they ducked back down....

same principle..... different game...... every time the zigzag pops up, whoppp......

'whack every rally' mode .......h
//-----



usdchf-d1-oanda-division1-dusr.png