In search of minimum wage

hayseed

Master Trader
Jul 27, 2010
697
181
109
usa
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

Master Trader
Jul 27, 2010
697
181
109
usa
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

Master Trader
Jul 27, 2010
697
181
109
usa
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

Trader
May 12, 2020
67
4
24
30
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.
 

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hayseed

Master Trader
Jul 27, 2010
697
181
109
usa
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

Master Trader
Jul 27, 2010
697
181
109
usa
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

Master Trader
Jul 27, 2010
697
181
109
usa
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

Master Trader
Jul 27, 2010
697
181
109
usa
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

Master Trader
Jul 27, 2010
697
181
109
usa
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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