I have ended '12 year up around 34% Was agressive but not enough opportunities to get further. Also a bit slack.
This thread is to keep records of attempt to skip increasing size as I work. Therefore have saved amount that will allow me 3 bets at my sustainable size.
My budget = XXX
Final trade size = XXX/3
Previus thread growing bet size finished http://www.forexfactory.com/showthread.php?t=380796
3 is quite little and 3 net losses will end this thread. I will likely make another attempt but will not worry about that right now.
To smooth the shock will start with bet size XXX/6. Will play this size until my account balance at least 1.33 * XXX OR if 3 losses, then will stop when balance falls to 0.5 * XXX. So I have lost only 1/2 of my budget.
If 1.33 * XXX reached first, will double the size to XXX/3. In worst case scenario, losing three times in a row, will end up with 0.33 * XXX, so really risking max 0.66 * XXX. Any win will increase my buffer and chances to keep the size.
This excludes black swan event where extra buffer will help. Winning positions can be kept for weeks.
I have 2 types of exits from losing trade
1. stop loss hit
2. timeout
I have 3 types of exits from winning trades
1. trailing stop hit
2. chart based condition
3. news based condition
All conditions derived from statistics.
Trade 1 x a month but lately is quite less. Hoping '13 will be livelier.
This thread is to keep records of attempt to skip increasing size as I work. Therefore have saved amount that will allow me 3 bets at my sustainable size.
My budget = XXX
Final trade size = XXX/3
Previus thread growing bet size finished http://www.forexfactory.com/showthread.php?t=380796
3 is quite little and 3 net losses will end this thread. I will likely make another attempt but will not worry about that right now.
To smooth the shock will start with bet size XXX/6. Will play this size until my account balance at least 1.33 * XXX OR if 3 losses, then will stop when balance falls to 0.5 * XXX. So I have lost only 1/2 of my budget.
If 1.33 * XXX reached first, will double the size to XXX/3. In worst case scenario, losing three times in a row, will end up with 0.33 * XXX, so really risking max 0.66 * XXX. Any win will increase my buffer and chances to keep the size.
This excludes black swan event where extra buffer will help. Winning positions can be kept for weeks.
I have 2 types of exits from losing trade
1. stop loss hit
2. timeout
I have 3 types of exits from winning trades
1. trailing stop hit
2. chart based condition
3. news based condition
All conditions derived from statistics.
Trade 1 x a month but lately is quite less. Hoping '13 will be livelier.