Your right it's a small account and I will eventually stop growing the account and just take profits and save up for a disaster.

Set it and Forget it, Dollar Cost Averaging

That has been a problem since I started trading, how do you define a trend and when does a retrace become a trend reversal. Every time I see a chart with trend lines it looks like a game of pickup sticks. Any ideas would be appreciated.

Set it and Forget it, Dollar Cost Averaging

Yep that would be a bad day to be on the wrong side of the trade, but there is no way of knowing where you would be in the trading cycle you could have been waiting for it to drop since the 16th or you might have just decided to go short. That is a ...

Set it and Forget it, Dollar Cost Averaging

And here is the worst case scenario using the same numbers, every time I hit my TP, I buy the next entry at the daily high, then every day at open, either way the result is the same. 40+ successful trades each earning 1%+.

Set it and Forget it, Dollar Cost Averaging

Nice try but you pulled a trick worthy of a global warming scientist, where is the daily high for 9/29, it's not there because it would have allowed me to hit my TP . I attached a pic of what would have actually happened that month if I went ...

Set it and Forget it, Dollar Cost Averaging

That's true only on days when I hit my TP and the price is near the weekly high/low, I've been opening a new position on the same day my position closes then adding positions around 11pm NY time each day until the next TP hits. I did add an extra ...

Set it and Forget it, Dollar Cost Averaging

I think your math is just a bit off. 250 times 20 is 5000 so it would take 20 weeks not 2 years, and I don't think that your backtest was set to work like my system, similar but not the same as what I'm doing. You averaged every 100 pips, I average ...

Set it and Forget it, Dollar Cost Averaging

That sounds about right, but you'd still be using the same 5% NAV per day, so what would be the advantage of doing that.

Set it and Forget it, Dollar Cost Averaging

I have no choice but to close my trades at 50% drawdown, that's my MC. But I'm not sure if all my positions would be closed or only enough to get me above the margin requirement. I could make the calculation and place a SL a few pips before the MC ...

Set it and Forget it, Dollar Cost Averaging

I hit my TP and had another great 5%+ week. See ya next week.

Set it and Forget it, Dollar Cost Averaging

I'm looking for 1.2290 on the euro to close my shorts and finish off the week, if not I'll continue when the market opens on Sunday night.

Set it and Forget it, Dollar Cost Averaging

I would probably do that BE+1 if I ever got to the 20th position, then I would hate myself after it passes my TP by 200 pips. lol

Set it and Forget it, Dollar Cost Averaging

First off I would never open a long position at the top because I choose direction using the weekly high and low, I go in the opposite direction, if I'm near the high I short it, if I'm near the low I go long. I could get caught in the middle of a ...

Set it and Forget it, Dollar Cost Averaging

First thing your calculation is off a bit, on day five I would have 5 open positions times the 200 pip reversal would bring me to BE and I would open a sixth position and wait for a few more pips to hit my 50 pip average profit. Even if it did ...

Set it and Forget it, Dollar Cost Averaging

That is about right except I don't need it to come all the way back to where it started just back to the average position and a few pips for profit. It could move a couple thousand pips in the wrong direction as long as it's not in one day it will ...

Set it and Forget it, Dollar Cost Averaging

My account allows me to lose 50% of my margin before a MC, so it is possible for me to lose half of my account but it would require me to open all 20 positions than have the trade go over 150 pips against my average position without a retrace after ...

Set it and Forget it, Dollar Cost Averaging

I guess it's possible but it's working for now.

Set it and Forget it, Dollar Cost Averaging

I'm only using it on EU atm but I think it would work on any pair with any pair with enough volatility. I've only been using it for a few weeks but I've looked back several weeks and it looks like it would have worked. I really don't worry about the ...

Set it and Forget it, Dollar Cost Averaging

I opened my first position on Sunday the 12, then I opened a second position just after midnight on the 13th then I saw a big jump and got a bit impatient and opened a third position position(I don't always follow the rules exactly), then a forth ...

Set it and Forget it, Dollar Cost Averaging