In search of minimum wage

[hayseed]

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.

curious what the pain level was for this trade.

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no pain at all.....

the tops only appear to be perfect..... once a signal appears, i run some scripts that blast the full daily atr in limits and stops every 5 pips...... and then every day that follows i'll completely cover the previous day in stops and limits......

it can easily end up being several hundred trades total...... there will be hundreds of pending orders expire......

the eurjpy drawdown in the minimum wage account was 2.4 and the eurjpy drawdown on the weekly trades account was 11.6.....

the reason for the 11.6 was i placed a 4, 3, and 2 mini lot orders and the market almost immediately turned on me ....... figures......

that's why i prefer 0.01 orders.....h
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[hayseed]

current stats on 'in the future account'.....

ok, chose my trades for next sunday this morning..... these will be next weeks trades placed in advance....

they are currently 150 in the hole...... oddly , that's a good thing.....

1500 in the hole would be a bad thing......h
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[hayseed]

current stats on minimum wage account..... this might be as good as it gets this week...... another 21 days straight at work, daylight to dark has me slap wore out......

see nothing that appeals to me right now...... too tired to look .....h
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[TradeChaser]

Hayseed, been working on that old currency strength based indicator. Found out how to remove the need to manually enter a pair, and simply extract both currencies from the chart. Then created a MACD style oscillator.

What do you think?

Note - when deciding the length, I find it best to not just pick a standard length that we use with other indicators. Rather, I think deciding exactly what time frame you want the currency strength to represent is best.

Ex. If on the 1H, I will use a length of 48 to see the currency's strength over the past couple days. the MTF, I might simply put 10 for Daily. This helps me reference the same measure by its strength over the past two weeks.

 

[hayseed]

sixth week update...... do not , everyone thats been around awhile will agree with me, do not read anything into 6 weeks results.....

or 7 weeks for that matter.......h
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odds are trading will be minimal next week...... work has me tied up.....h
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[hayseed]

seventh week update...... do not , everyone thats been around awhile will agree with me, do not read anything into 7 weeks results.....

or 8 weeks for that matter.... you should by now see the pattern.......

video later this weekend to better explain ....... accounts should double in next 2 weeks....... or explode.....h
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[hayseed]

here are some profit breakdowns by lot size and pair on the two accounts...... seldom will i go over 2 mini lots per trade..... so far only 4 times it seems...... there are a couple > 0.31 minilot orders that are not seen due to screen size limitations......

the minimum wage account averages 0.03 lots with 31 pips per trade...... the future trades account runs 0.02 lots with 46 pips per trade......

that might change in the next few weeks if the opportunity exists..... in the video i will explain accounts going parabolic..... lot size ramps up exponentially..... along with risk.......


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anyone suggesting an attempt to double an account using 0.03 or 0.02 lots would be laughed off most forex forums......

no joke, before attempting to trade forex for 100% living, it might be wise to double a 10k live account with 0.01 trades...... twice......

forex as a sideline extra money thing, might be the best deal overall...... h

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[hayseed]

merged the two accounts into one..... or 30k of it to be exact..... don't have time to trade 2 accounts with similar themes..... same goal..... minimum wage......

anytime there is a unusually large almost across the board move, my tendency is to lay low, keep my eyes closed , wait for silence and let the smoke clear......

otherwise i'll run wide open head first into a unseen brick wall..... have the scars to prove it.....

will wait for 240 or better still 1440 retraces...... other than that, very few trades till next week if any...... most likely won't even look at metatrader till saturday..... out of site out of mind......

have one trade left open, another manually closed for a loss, 23 cents, trade by mistake......h

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[hayseed]

most of the week was spent retracing the prior weeks movement..... should be expected..... so trades are at a minimum.....

no harm in that.....h
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[hayseed]

reminders for me......h
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[Enivid]

Any update on the balance curve, @hayseed ?

 

[hayseed]

Any update on the balance curve, @hayseed ?

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hey enivid..... thanks, yes.... forgot to update and explain last few weeks.....

the alignment will now be off because i have to pay estimated quarterly taxes...... rather than use the mark to market approach of profit/loss, i just close everything prior to the end of the quarter, withdraw estimated taxes and move remaining money to another sub account..... this clean fresh start approach completely eliminates any irs income tax issues......

so as of roughly 6/1/22 below are the results so so far this month and next quarter...... slightly more aggressive lot size mixed with slightly more frequent luck.....
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and for the world,....... please do not , i'm sure enivid and everyone thats been around awhile will agree with me, do not read anything into these results..... no one , at least here on enivids forum, wants to miss lead anyone......

trading might be easy for some, but not for me......h
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[TradeChaser]

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hey enivid..... thanks, yes.... forgot to update and explain last few weeks.....

the alignment will now be off because i have to pay estimated quarterly taxes...... rather than use the mark to market approach of profit/loss, i just close everything prior to the end of the quarter, withdraw estimated taxes and move remaining money to another sub account..... this clean fresh start approach completely eliminates any irs income tax issues......

so as of roughly 6/1/22 below are the results so so far this month and next quarter...... slightly more aggressive lot size mixed with slightly more frequent luck.....
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and for the world,....... please do not , i'm sure enivid and everyone thats been around awhile will agree with me, do not read anything into these results..... no one , at least here on enivids forum, wants to miss lead anyone......

trading might be easy for some, but not for me......h
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View attachment 21889

These are life changing numbers hayseed. Awesome to see

 

[hayseed]

These are life changing numbers hayseed. Awesome to see

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numbers can change..... sometimes not in the direction life would prefer.....

numbers as of 6/24/22.......h
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[hayseed]

so, let me base this here...... after taxes, 7.25 per hour on a 8 hour day would be about 50$...... a convenient number..... 250$ a week, roughly 1000$ a month.....

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and 12,000 a year.....

june has the year covered now....... plans are to bump this account up to 50k next week and then focus on some other things....

of course plans can change......h
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[hayseed]

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plans are to bump this account up to 50k next week

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fell short here..... too many irons in the fire.... might take a week or two more.....

what's a week or 2 between friends.....h
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[hayseed]

well, somehow managed to crawl over 50k this week......

don't read anything in to this.....h
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[TradeChaser]

Incredible results, and great comments on the trade results. Shows the value of having all the data, including the list of trades.

 

[hayseed]

the list of

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speaking of lists...... now might be a good time to draw a line down the center of the page...... list the fundamental reasons to go higher on the left and the fundamental reasons to go lower on the right......

then grid trade the heavier side...... lazy way to do it but effective at times......h
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[TradeChaser]

Can you help me build the list?

Higher:
• Fresh Signals in higher timeframes
• existence of a very over drawn downtrend and stale counts
•near term strength starting to show itself on the daily TF.

Lower:
• dollar rates are likely to continue to increase, but I don’t like using fundamentals because I know so little
• larger timeframes clearly show weakness in The EUR. Yes it is a long down trend, but an object in motion tends to stay that way.
• current Daily surge, at least among the quicker indicators (JJMA, JFATL, ALMA) is past/hitting the stale count area and could signal the end of this surge.

I suppose a lot of things depend on what you mean too. Is this a daily look to send a grid for the next day? Or is it to send a grid for the next few months/weeks.

If the former and for a shorter term grid, I would certainly be wary of shorting, because something is giving the EUR strength. If the latter, I would create a net short grid despite knowing I may be in Drawdown for a while before the current upward impuls corrects