Firstly, thanks for the overwhelming comments and feedback. Genuinely really appreciated. I am pleased 500+ of you find it useful.submitted by getmrmarket to Forex [link] [comments]
If you didn't read the first post you can do so here: risk management part I. You'll need to do so in order to make sense of the topic.
As ever please comment/reply below with questions or feedback and I'll do my best to get back to you.
Letting stops breatheWe talked earlier about giving a position enough room to breathe so it is not stopped out in day-to-day noise.
Let’s consider the chart below and imagine you had a trailing stop. It would be super painful to miss out on the wider move just because you left a stop that was too tight.
Imagine being long and stopped out on a meaningless retracement ... ouch!
One simple technique is simply to look at your chosen chart - let’s say daily bars. And then look at previous trends and use the measuring tool. Those generally look something like this and then you just click and drag to measure.
For example if we wanted to bet on a downtrend on the chart above we might look at the biggest retracement on the previous uptrend. That max drawdown was about 100 pips or just under 1%. So you’d want your stop to be able to withstand at least that.
If market conditions have changed - for example if CVIX has risen - and daily ranges are now higher you should incorporate that. If you know a big event is coming up you might think about that, too. The human brain is a remarkable tool and the power of the eye-ball method is not to be dismissed. This is how most discretionary traders do it.
There are also more analytical approaches.
Some look at the Average True Range (ATR). This attempts to capture the volatility of a pair, typically averaged over a number of sessions. It looks at three separate measures and takes the largest reading. Think of this as a moving average of how much a pair moves.
For example, below shows the daily move in EURUSD was around 60 pips before spiking to 140 pips in March. Conditions were clearly far more volatile in March. Accordingly, you would need to leave your stop further away in March and take a correspondingly smaller position size.
ATR is available on pretty much all charting systems
Professional traders tend to use standard deviation as a measure of volatility instead of ATR. There are advantages and disadvantages to both. Averages are useful but can be misleading when regimes switch (see above chart).
Once you have chosen a measure of volatility, stop distance can then be back-tested and optimised. For example does 2x ATR work best or 5x ATR for a given style and time horizon?
Discretionary traders may still eye-ball the ATR or standard deviation to get a feeling for how it has changed over time and what ‘normal’ feels like for a chosen study period - daily, weekly, monthly etc.
Reasons to change a stopAs a general rule you should be disciplined and not change your stops. Remember - losers average losers. This is really hard at first and we’re going to look at that in more detail later.
There are some good reasons to modify stops but they are rare.
One reason is if another risk management process demands you stop trading and close positions. We’ll look at this later. In that case just close out your positions at market and take the loss/gains as they are.
Another is event risk. If you have some big upcoming data like Non Farm Payrolls that you know can move the market +/- 150 pips and you have no edge going into the release then many traders will take off or scale down their positions. They’ll go back into the positions when the data is out and the market has quietened down after fifteen minutes or so. This is a matter of some debate - many traders consider it a coin toss and argue you win some and lose some and it all averages out.
Trailing stops can also be used to ‘lock in’ profits. We looked at those before. As the trade moves in your favour (say up if you are long) the stop loss ratchets with it. This means you may well end up ‘stopping out’ at a profit - as per the below example.
The mighty trailing stop loss order
It is perfectly reasonable to have your stop loss move in the direction of PNL. This is not exposing you to more risk than you originally were comfortable with. It is taking less and less risk as the trade moves in your favour. Trend-followers in particular love trailing stops.
One final question traders ask is what they should do if they get stopped out but still like the trade. Should they try the same trade again a day later for the same reasons? Nope. Look for a different trade rather than getting emotionally wed to the original idea.
Let’s say a particular stock looked cheap based on valuation metrics yesterday, you bought, it went down and you got stopped out. Well, it is going to look even better on those same metrics today. Maybe the market just doesn’t respect value at the moment and is driven by momentum. Wait it out.
Otherwise, why even have a stop in the first place?
Entering and exiting winning positionsTake profits are the opposite of stop losses. They are also resting orders, left with the broker, to automatically close your position if it reaches a certain price.
Imagine I’m long EURUSD at 1.1250. If it hits a previous high of 1.1400 (150 pips higher) I will leave a sell order to take profit and close the position.
The rookie mistake on take profits is to take profit too early. One should start from the assumption that you will win on no more than half of your trades. Therefore you will need to ensure that you win more on the ones that work than you lose on those that don’t.
Sad to say but incredibly common: retail traders often take profits way too early
This is going to be the exact opposite of what your emotions want you to do. We are going to look at that in the Psychology of Trading chapter.
Remember: let winners run. Just like stops you need to know in advance the level where you will close out at a profit. Then let the trade happen. Don’t override yourself and let emotions force you to take a small profit. A classic mistake to avoid.
The trader puts on a trade and it almost stops out before rebounding. As soon as it is slightly in the money they spook and cut out, instead of letting it run to their original take profit. Do not do this.
Entering positions with limit ordersThat covers exiting a position but how about getting into one?
Take profits can also be left speculatively to enter a position. Sometimes referred to as “bids” (buy orders) or “offers” (sell orders). Imagine the price is 1.1250 and the recent low is 1.1205.
You might wish to leave a bid around 1.2010 to enter a long position, if the market reaches that price. This way you don’t need to sit at the computer and wait.
Again, typically traders will use tech analysis to identify attractive levels. Again - other traders will cluster with your orders. Just like the stop loss we need to bake that in.
So this time if we know everyone is going to buy around the recent low of 1.1205 we might leave the take profit bit a little bit above there at 1.1210 to ensure it gets done. Sure it costs 5 more pips but how mad would you be if the low was 1.1207 and then it rallied a hundred points and you didn’t have the trade on?!
There are two more methods that traders often use for entering a position.
Scaling in is one such technique. Let’s imagine that you think we are in a long-term bulltrend for AUDUSD but experiencing a brief retracement. You want to take a total position of 500,000 AUD and don’t have a strong view on the current price action.
You might therefore leave a series of five bids of 100,000. As the price moves lower each one gets hit. The nice thing about scaling in is it reduces pressure on you to pick the perfect level. Of course the risk is that not all your orders get hit before the price moves higher and you have to trade at-market.
Pyramiding is the second technique. Pyramiding is for take profits what a trailing stop loss is to regular stops. It is especially common for momentum traders.
Pyramiding into a position means buying more as it goes in your favour
Again let’s imagine we’re bullish AUDUSD and want to take a position of 500,000 AUD.
Here we add 100,000 when our first signal is reached. Then we add subsequent clips of 100,000 when the trade moves in our favour. We are waiting for confirmation that the move is correct.
Obviously this is quite nice as we humans love trading when it goes in our direction. However, the drawback is obvious: we haven’t had the full amount of risk on from the start of the trend.
You can see the attractions and drawbacks of both approaches. It is best to experiment and choose techniques that work for your own personal psychology as these will be the easiest for you to stick with and build a disciplined process around.
Risk:reward and win ratiosBe extremely skeptical of people who claim to win on 80% of trades. Most traders will win on roughly 50% of trades and lose on 50% of trades. This is why risk management is so important!
Once you start keeping a trading journal you’ll be able to see how the win/loss ratio looks for you. Until then, assume you’re typical and that every other trade will lose money.
If that is the case then you need to be sure you make more on the wins than you lose on the losses. You can see the effect of this below.
A combination of win % and risk:reward ratio determine if you are profitable
A typical rule of thumb is that a ratio of 1:3 works well for most traders.
That is, if you are prepared to risk 100 pips on your stop you should be setting a take profit at a level that would return you 300 pips.
One needn’t be religious about these numbers - 11 pips and 28 pips would be perfectly fine - but they are a guideline.
Again - you should still use technical analysis to find meaningful chart levels for both the stop and take profit. Don’t just blindly take your stop distance and do 3x the pips on the other side as your take profit. Use the ratio to set approximate targets and then look for a relevant resistance or support level in that kind of region.
Risk-adjusted returnsNot all returns are equal. Suppose you are examining the track record of two traders. Now, both have produced a return of 14% over the year. Not bad!
The first trader, however, made hundreds of small bets throughout the year and his cumulative PNL looked like the left image below.
The second trader made just one bet — he sold CADJPY at the start of the year — and his PNL looked like the right image below with lots of large drawdowns and volatility.
Would you rather have the first trading record or the second?
If you were investing money and betting on who would do well next year which would you choose? Of course all sensible people would choose the first trader. Yet if you look only at returns one cannot distinguish between the two. Both are up 14% at that point in time. This is where the Sharpe ratio helps .
A high Sharpe ratio indicates that a portfolio has better risk-adjusted performance. One cannot sensibly compare returns without considering the risk taken to earn that return.
If I can earn 80% of the return of another investor at only 50% of the risk then a rational investor should simply leverage me at 2x and enjoy 160% of the return at the same level of risk.
This is very important in the context of Execution Advisor algorithms (EAs) that are popular in the retail community. You must evaluate historic performance by its risk-adjusted return — not just the nominal return. Incidentally look at the Sharpe ratio of ones that have been live for a year or more ...
Otherwise an EA developer could produce two EAs: the first simply buys at 1000:1 leverage on January 1st ; and the second sells in the same manner. At the end of the year, one of them will be discarded and the other will look incredible. Its risk-adjusted return, however, would be abysmal and the odds of repeated success are similarly poor.
Sharpe ratioThe Sharpe ratio works like this:
You don’t really need to know how to calculate Sharpe ratios. Good trading software will do this for you. It will either be available in the system by default or you can add a plug-in.
VARVAR is another useful measure to help with drawdowns. It stands for Value at Risk. Normally people will use 99% VAR (conservative) or 95% VAR (aggressive). Let’s say you’re long EURUSD and using 95% VAR. The system will look at the historic movement of EURUSD. It might spit out a number of -1.2%.
A 5% VAR of -1.2% tells you you should expect to lose 1.2% on 5% of days, whilst 95% of days should be better than that
This means it is expected that on 5 days out of 100 (hence the 95%) the portfolio will lose 1.2% or more. This can help you manage your capital by taking appropriately sized positions. Typically you would look at VAR across your portfolio of trades rather than trade by trade.
Sharpe ratios and VAR don’t give you the whole picture, though. Legendary fund manager, Howard Marks of Oaktree, notes that, while tools like VAR and Sharpe ratios are helpful and absolutely necessary, the best investors will also overlay their own judgment.
Investors can calculate risk metrics like VaR and Sharpe ratios (we use them at Oaktree; they’re the best tools we have), but they shouldn’t put too much faith in them. The bottom line for me is that risk management should be the responsibility of every participant in the investment process, applying experience, judgment and knowledge of the underlying investments.Howard Marks of Oaktree Capital
What he’s saying is don’t misplace your common sense. Do use these tools as they are helpful. However, you cannot fully rely on them. Both assume a normal distribution of returns. Whereas in real life you get “black swans” - events that should supposedly happen only once every thousand years but which actually seem to happen fairly often.
These outlier events are often referred to as “tail risk”. Don’t make the mistake of saying “well, the model said…” - overlay what the model is telling you with your own common sense and good judgment.
Coming up in part IIIAvailable here
Squeezes and other risks
Crap trades, timeouts and monthly limits
Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
TL;DR - I will try and flip an account from $50 or less to $1,000 over 2019. I will post all my account details so my strategy can be seen/copied. I will do this using only three or four trading setups. All of which are simple enough to learn. I will start trading on 10th January.submitted by inweedwetrust to Forex [link] [comments]
As I see it there are two mains ways to understand how to make money in the markets. The first is to know what the biggest winners in the markets are doing and duplicating what they do. This is hard. Most of the biggest players will not publicly tell people what they are doing. You need to be able to kinda slide in with them and see if you can pick up some info. Not suitable for most people, takes a lot of networking and even then you have to be able to make the correct inferences.
Another way is to know the most common trades of losing traders and then be on the other side of their common mistakes. This is usually far easier, usually everyone knows the mind of a losing trader. I learned about what losing traders do every day by being one of them for many years. I noticed I had an some sort of affinity for buying at the very top of moves and selling at the very bottom. This sucked, however, is was obvious there was winning trades on the other side of what I was doing and the adjustments to be a good trader were small (albeit, tricky).
Thus began the study for entries and maximum risk:reward. See, there have been times I have bought aiming for a 10 pip scalps and hit 100 pips stops loss. Hell, there have been times I was going for 5 pips and hit 100 stop out. This can seem discouraging, but it does mean there must be 1:10 risk:reward pay-off on the other side of these mistakes, and they were mistakes.
If you repeatedly enter and exit at the wrong times, you are making mistakes and probably the same ones over and over again. The market is tricking you! There are specific ways in which price moves that compel people to make these mistakes (I won’t go into this in this post, because it takes too long and this is going to be a long post anyway, but a lot of this is FOMO).
Making mistakes is okay. In fact, as I see it, making mistakes is an essential part of becoming an expert. Making a mistake enough times to understand intrinsically why it is a mistake and then make the required adjustments. Understanding at a deep level why you trade the way you do and why others make the mistakes they do, is an important part of becoming an expert in your chosen area of focus.
I could talk more on these concepts, but to keep the length of the post down, I will crack on to actual examples of trades I look for. Here are my three main criteria. I am looking for tops/bottoms of moves (edge entries). I am looking for 1:3 RR or more potential pay-offs. My strategy assumes that retail trades will lose most of the time. This seems a fair enough assumption. Without meaning to sound too crass about it, smart money will beat dumb money most of the time if the game is base on money. They just will.
So to summarize, I am looking for the points newbies get trapped in bad positions entering into moves too late. From these areas, I am looking for high RR entries.
I call this one the “Lightning Bolt correction”, but it is most commonly referred to as a “two leg correction”. I call it a “Lightning Bolt correction” because it looks a bit like one, and it zaps you. If you get it wrong.
Once I see price making the first sell-off move and then begin to rally towards the highs again, I am waiting for a washout spike low. The common trades mistakes I am trading against here is them being too eager to buy into the trend too early and for the to get stopped out/reverse position when it looks like it is making another bearish breakout. Right at that point they panic … literally one candle under there is where I want to be getting in. I want to be buying their stop loss, essentially. “Oh, you don’t want that ...okay, I will have that!”
I need a precise entry. I want to use tiny stops (for big RR) so I need to be cute with entries. For this, I need entry rules. Not just arbitrarily buying the spike out. There are a few moving parts to this that are outside the scope of this post but one of my mains ways is using a fibs extension and looking for reversals just after the 1.61% level. How to draw the fibs is something else that is outside the scope of this but for one simple rule, they can be drawn on the failed new high leg.
I am looking for a few specific things for a prime setup. Firstly, I am looking for the false hope candles, the ones that look like they will reverse the market and let those buying too early get out break-even or even at profit. In this case, you can see the hammer and engulfing candle off the 127 level, then it spikes low in that “stop-hunt” sort of style.
Secondly I want to see it trading just past my entry level (161 ext). This rule has come from nothing other than sheer volume. The amount of times I’ve been stopped out by 1 pip by that little sly final low has gave birth to this rule. I am looking for the market to trade under support in a manner that looks like a new strong breakout. When I see this, I am looking to get in with tiny stops, right under the lows. I will also be using smaller charts at this time and looking for reversal clusters of candles. Things like dojis, inverted hammers etc. These are great for sticking stops under.
Important note, when the lightning bolt correction fails to be a good entry, I expect to see another two legs down. I may look to sell into this area sometimes, and also be looking for buying on another couple legs down. It is important to note, though, when this does not work out, I expect there to be continued momentum that is enough to stop out and reasonable stop level for my entry. Which is why I want to cut quick. If a 10 pips stop will hit, usually a 30 pips stop will too. Bin it and look for the next opportunity at better RR.
Another setup I am watching for is harmonic patterns, and I am using these as a multi-purpose indicator. When I see potentially harmonic patterns forming, I am using their completion level as take profits, I do not want to try and run though reversal patterns I can see forming hours ahead of time. I also use them for entering (similar rules of looking for specific entry criteria for small stops). Finally, I use them as a continuation pattern. If the harmonic pattern runs past the area it may have reversed from, there is a high probability that the market will continue to trend and very basic trend following strategies work well. I learned this from being too stubborn sticking with what I thought were harmonic reversals only to be ran over by a trend (seriously, everything I know I know from how it used to make me lose).
A method of spotting these sorts of M/W harmonics is they tend to form after a second spike out leg never formed. When this happens, it gives me a really good idea of where my profit targets should be and where my next big breakout level is. It is worth noting, larger harmonics using have small harmonics inside them (on lower time-frames) and this can be used for dialling in optimum entries. I also use harmonics far more extensively in ranging markets. Where they tend to have higher win rates.
Next setup is the good old fashioned double bottoms/double top/one tick trap sort of setup. This comes in when the market is highly over extended. It has a small sell-off and rallies back to the highs before having a much larger sell-off. This is a more risky trade in that it sells into what looks like trending momentum and can be stopped out more. However, it also pays a high RR when it works, allowing for it to be ran at reduced risk and still be highly profitable when it comes through.
From these sorts of moves, I am always looking for a follow up buy if it forms a lightning bolt sort of setup.
All of these setups always offer 1:3 or better RR. If they do not, you are doing it wrong (and it will be your stop placement that is wrong). This is not to say the target is always 1:3+, sometimes it is best to lock in profits with training stops. It just means that every time you enter, you can potentially have a trade that runs for many times more than you risked. 1:10 RR can be hit in these sorts of setups sometimes. Paying you 20% for 2% risked.
I want to really stress here that what I am doing is trading against small traders mistakes. I am not trying to “beat the market maker”. I am not trying to reverse engineer J.P Morgan’s black boxes. I do not think I am smart enough to gain a worthwhile edge over these traders. They have more money, they have more data, they have better softwares … they are stronger. Me trying to “beat the market maker” is like me trying to beat up Mike Tyson. I might be able to kick him in the balls and feel smug for a few seconds. However, when he gets up, he is still Tyson and I am still me. I am still going to be pummeled.
I’ve seen some people that were fairly bright people going into training courses and coming out dumb as shit. Thinking they somehow are now going to dominate Goldman Sachs because they learned a chart pattern. Get a grip. For real, get a fucking grip. These buzz phrases are marketeering. Realististically, if you want to win in the markets, you need to have an edge over somebody.
I don’t have edges on the banks. If I could find one, they’d take it away from me. Edges work on inefficiencies in what others do that you can spot and they can not. I do not expect to out-think a banks analysis team. I know for damn sure I can out-think a version of me from 5 years ago … and I know there are enough of them in the markets. I look to trade against them. I just look to protect myself from the larger players so they can only hurt me in limited ways. Rather than letting them corner me and beat me to a pulp (in the form of me watching $1,000 drop off my equity because I moved a stop or something), I just let them kick me in the butt as I run away. It hurts a little, but I will be over it soon.
I believe using these principles, these three simple enough edge entry setups, selectiveness (remembering you are trading against the areas people make mistakes, wait for they areas) and measured aggression a person can make impressive compounded gains over a year. I will attempt to demonstrate this by taking an account of under $100 to over $1,000 in a year. I will use max 10% on risk on a position, the risk will scale down as the account size increases. In most cases, 5% risk per trade will be used, so I will be going for 10-20% or so profits. I will be looking only for prime opportunities, so few trades but hard hitting ones when I take them.
I will start trading around the 10th January. Set remind me if you want to follow along. I will also post my investor login details, so you can see the trades in my account in real time. Letting you see when I place my orders and how I manage running positions.
I also think these same principles can be tweaked in such a way it is possible to flip $50 or so into $1,000 in under a month. I’ve done $10 to $1,000 in three days before. This is far more complex in trade management, though. Making it hard to explain/understand and un-viable for many people to copy (it hedges, does not comply with FIFO, needs 1:500 leverage and also needs spreads under half a pip on EURUSD - not everyone can access all they things). I see all too often people act as if this can’t be done and everyone saying it is lying to sell you something. I do not sell signals. I do not sell training. I have no dog in this fight, I am just saying it can be done. There are people who do it. If you dismiss it as impossible; you will never be one of them.
If I try this 10 times with $50, I probably am more likely to make $1,000 ($500 profit) in a couple months than standard ideas would double $500 - I think I have better RR, even though I may go bust 5 or more times. I may also try to demonstrate this, but it is kinda just show-boating, quite honestly. When it works, it looks cool. When it does not, I can go bust in a single day (see example https://www.fxblue.com/users/redditmicroflip).
So I may or may not try and demonstrate this. All this is, is just taking good basic concepts and applying accelerated risk tactics to them and hitting a winning streak (of far less trades than you may think). Once you have good entries and RR optimization in place - there really is no reason why you can not scale these up to do what may people call impossible (without even trying it).
I know there are a lot of people who do not think these things are possible and tend to just troll whenever people talk about these things. There used to be a time when I’d try to explain why I thought the way I did … before I noticed they only cared about telling me why they were right and discussion was pointless. Therefore, when it comes to replies, I will reply to all comments that ask me a question regarding why I think this can be done, or why I done something that I done. If you are commenting just to tell me all the reasons you think I am wrong and you are right, I will probably not reply. I may well consider your points if they are good ones. I just do not entering into discussions with people who already know everything; it serves no purpose.
I want to talk a bit more about using higher percentage of risk than usual. Firstly, let me say that there are good reasons for risk caps that people often cite as “musts”. There are reasons why 2% is considered optimum for a lot of strategies and there are reasons drawing down too much is a really bad thing.
Please do not be ignorant of this. Please do not assume I am, either. In previous work I done, I was selecting trading strategies that could be used for investment. When doing this, my only concern was drawdown metrics. These are essential for professional money management and they are also essential for personal long-term success in trading.
So please do not think I have not thought of these sorts of things Many of the reasons people say these things can’t work are basic 101 stuff anyone even remotely committed to learning about trading learns in their first 6 months. Trust me, I have thought about these concepts. I just never stopped thinking when I found out what public consensus was.
While these 101 rules make a lot of sense, it does not take away from the fact there are other betting strategies, and if you can know the approximate win rate and pay-off of trades, you can have other ways of deriving optimal bet sizes (risk per trade). Using Kelly Criterion, for example, if the pay-off is 1:3 and there is a 75% chance of winning, the optimal bet size is 62.5%. It would be a viable (high risk) strategy to have extremely filtered conditions that looked for just one perfect set up a month, makingover 150% if it was successful.
Let’s do some math on if you can pull that off three months in a row (using 150% gain, for easy math). Start $100. Month two starts $250. Month three $625. Month three ends $1,562. You have won three trades. Can you win three trades in a row under these conditions? I don’t know … but don’t assume no-one can.
This is extremely high risk, let’s scale it down to meet somewhere in the middle of the extremes. Let’s look at 10%. Same thing, 10% risk looking for ideal opportunities. Maybe trading once every week or so. 30% pay-off is you win. Let’s be realistic here, a lot of strategies can drawdown 10% using low risk without actually having had that good a chance to generate 30% gains in the trades it took to do so. It could be argued that trading seldomly but taking 5* the risk your “supposed” to take can be more risk efficient than many strategies people are using.
I am not saying that you should be doing these things with tens of thousands of dollars. I am not saying you should do these things as long term strategies. What I am saying is do not dismiss things out of hand just because they buck the “common knowns”. There are ways you can use more aggressive trading tactics to turn small sums of money into they $1,000s of dollars accounts that you exercise they stringent money management tactics on.
With all the above being said, you do have to actually understand to what extent you have an edge doing what you are doing. To do this, you should be using standard sorts of risks. Get the basics in place, just do not think you have to always be basic. Once you have good basics in place and actually make a bit of money, you can section off profits for higher risk versions of strategies. The basic concepts of money management are golden. For longevity and large funds; learned them and use them! Just don’t forget to think for yourself once you have done that.
Okay, I have thought this through a bit more and decided I don't want to post my live account investor login, because it has my full name and I do not know who any of you are. Instead, for copying/observing, I will give demo account login (since I can choose any name for a demo).
I will also copy onto a live account and have that tracked via Myfxbook.
I will do two versions. One will be FIFO compliant. It will trade only single trade positions. The other will not be FIFO compliant, it will open trades in batches. I will link up live account in a week or so. For now, if anyone wants to do BETA testing with the copy trader, you can do so with the following details (this is the non-FIFO compliant version).
Account tracking/copying details.
IC Markets MT4
Account number: 10307003
Investor PW: lGdMaRe6
(Not FIFO compliant)
Valid and Invalid Complaints.
There are a few things that can pop up in copy trading. I am not a n00b when it comes to this, so I can somewhat forecast what these will be. I can kinda predict what sort of comments there may be. Some of these are valid points that if you raise I should (and will) reply to. Some are things outside of the scope of things I can influence, and as such, there is no point in me replying to. I will just cover them all here the one time.
Valid complains are if I do something dumb or dramatically outside of the strategy I have laid out here. won't do these, if I do, you can pitchfork ----E
“Oi, idiot! You opened a trade randomly on a news spike. I got slipped 20 pips and it was a shit entry”.
Perfectly valid complaint.
“Why did you open a trade during swaps hours when the spread was 30 pips?”
“You left huge trades open running into the weekend and now I have serious gap paranoia!”
These are examples of me doing dumb stuff. If I do dumb stuff, it is fair enough people say things amounting to “Yo, that was dumb stuff”.
“You bought EURUSD when it was clearly a sell!!!!”
Okay … you sell. No-one is asking you to copy my trades. I am not trading your strategy. Different positions make a market.
“You opened a position too big and I lost X%”.
No. Na uh. You copied a position too big. If you are using a trade copier, you can set maximum risk. If you neglect to do this, you are taking 100% risk. You have no valid compliant for losing. The act of copying and setting the risk settings is you selecting your risk. I am not responsible for your risk. I accept absolutely no liability for any losses.
*Suggested fix. Refer to risk control in copy trading software
“You lost X trades in a row at X% so I lost too much”.
Nope. You copied. See above. Anything relating to losing too much in trades (placed in liquid/standard market conditions) is entirely you. I can lose my money. Only you can set it up so you can lose yours. I do not have access to your account. Only mine.
*Suggested fix. Refer to risk control in copy trading software
“Price keeps trading close to the pending limit orders but not filling. Your account shows profits, but mine is not getting them”.
This is brokerage. I have no control over this. I use a strategy that aims for precision, and that means a pip here and there in brokerage spreads can make a difference. I am trading to profit from my trading conditions. I do not know, so can not account for, yours.
* Suggested fix. Compare the spread on your broker with the spread on mine. Adjust your orders accordingly. Buy limit orders will need to move up a little. Sell limit orders should not need adjusted.
“I got stopped out right before the market turned, I have a loss but your account shows a profit”.
This is brokerage. I have no control over this. I use a strategy that aims for precision, and that means a pip here and there differences in brokerage spreads can make a difference. I am trading to profit from my trading conditions. I do not know, so can not account for, yours.
** Suggested fix. Compare the spread on your broker with the spread on mine. Adjust your orders accordingly. Stop losses on sell orders will need to move up a bit. Stops on buy orders will be fine.
“Your trade got stopped out right before the market turned, if it was one more pip in the stop, it would have been a winner!!!”
Yeah. This happens. This is where the “risk” part of “risk:reward” comes in.
“Price traded close to take profit, yours filled but mines never”.
This is brokerage. I have no control over this. I use a strategy that aims for precision, and that means a pip here and there differences in brokerage spreads can make a difference. I am trading to profit from my trading conditions. I do not know, so can not account for, yours.
(Side note, this should not be an issue since when my trade closes, it should ping your account to close, too. You might get a couple less pips).
*** Suggested fix. Compare the spread on your broker with the spread on mine. Adjust your orders accordingly. Take profits on buys will need to move up a bit. Sell take profits will be fine.
“My brokers spread jumped to 20 during the New York session so the open trade made a bigger loss than it should”.
Your broker might just suck if this happens. This is brokerage. I have no control over this. My trades are placed to profit from my brokerage conditions. I do not know, so can not account for yours. Also, if accounting for random spread spikes like this was something I had to do, this strategy would not be a thing. It only works with fair brokerage conditions.
*Suggested fix. Do a bit of Googling and find out if you have a horrific broker. If so, fix that! A good search phrase is; “(Broker name) FPA reviews”.
“Price hit the stop loss but was going really fast and my stop got slipped X pips”.
This is brokerage. I have no control over this. I use a strategy that aims for precision, and that means a pip here and there differences in brokerage spreads can make a difference. I am trading to profit from my trading conditions. I do not know, so can not account for, yours.
If my trade also got slipped on the stop, I was slipped using ECN conditions with excellent execution; sometimes slips just happen. I am doing the most I can to prevent them, but it is a fact of liquidity that sometimes we get slipped (slippage can also work in our favor, paying us more than the take profit would have been).
“Orders you placed failed to execute on my account because they were too large”.
This is brokerage. I have no control over this. Margin requirements vary. I have 1:500 leverage available. I will not always be using it, but I can. If you can’t, this will make a difference.
“Your account is making profits trading things my broker does not have”
I have a full range of assets to trade with the broker I use. Included Forex, indices, commodities and cryptocurrencies. I may or may not use the extent of these options. I can not account for your brokerage conditions.
I think I have covered most of the common ones here. There are some general rules of thumb, though. Basically, if I do something that is dumb and would have a high probability of losing on any broker traded on, this is a valid complain.
Anything that pertains to risk taken in standard trading conditions is under your control.
Also, anything at all that pertains to brokerage variance there is nothing I can do, other than fully brief you on what to expect up-front. Since I am taking the time to do this, I won’t be a punchbag for anything that happens later pertaining to this.
I am not using an elitist broker. You don’t need $50,000 to open an account, it is only $200. It is accessible to most people - brokerage conditions akin to what I am using are absolutely available to anyone in the UK/Europe/Asia (North America, I am not so up on, so can’t say). With the broker I use, and with others. If you do not take the time to make sure you are trading with a good broker, there is nothing I can do about how that affects your trades.
I am using an A book broker, if you are using B book; it will almost certainly be worse results. You have bad costs. You are essentially buying from reseller and paying a mark-up. (A/B book AKA ECN/Market maker; learn about this here). My EURUSD spread will typically be 0.02 pips or so, if yours is 1 pip, this is a huge difference.
These are typical spreads I am working on.
Check the full range of spreads on Forex, commodities, indices and crypto.
Please understand I want nothing from you if you benefit from this, but I am also due you nothing if you lose. My only term of offering this is that people do not moan at me if they lose money.
I have been fully upfront saying this is geared towards higher risk. I have provided information and tools for you to take control over this. If I do lose people’s money and I know that, I honestly will feel a bit sad about it. However, if you complain about it, all I will say is “I told you that might happen”, because, I am telling you that might happen.
Make clear headed assessments of how much money you can afford to risk, and use these when making your decisions. They are yours to make, and not my responsibility.
Crazy Kelly Compounding: $100 - $11,000 in 6 Trades.
$100 to $11,000 in 6 trades? Is it a scam? Is it a gamble? … No, it’s maths.
Common sense risk disclaimer: Don’t be a dick! Don’t risk money you can’t afford to lose. Do not risk money doing these things until you can show a regular profit on low risk.
Let’s talk about Crazy Kelly Compounding (CKC). Kelly criterion is a method for selecting optimal bet sizes if the odds and win rate are known (in other words, once you have worked out how to create and assess your edge). You can Google to learn about it in detail. The formula for Kelly criterion is;
((odds-1) * (percentage estimate)) - (1-percent estimate) / (odds-1) X 100
Now let’s say you can filter down a strategy to have a 80% win rate. It trades very rarely, but it had a very high success rate when it does. Let’s say you get 1:2 RR on that trade. Kelly would give you an optimum bet size of about 60% here. So if you win, you win 120%. Losing three trades in a row will bust you. You can still recover from anything less than that, fairly easily with a couple winning trades.
This is where CKC comes in. What if you could string some of these wins together, compounding the gains (so you were risking 60% each time)? What if you could pull off 6 trades in a row doing this?
Here is the math;
This shows years, substitute years for trades. 6 trades returns $11,338! This can be done. The question really is if you are able to dial in good enough entries, filter out enough sub-par trades and have the guts to pull the trigger when the time is right. Obviously you need to be willing to take the hit, obviously that hit gets bigger each time you go for it, but the reward to risk ratio is pretty decent if you can afford to lose the money.
We could maybe set something up to do this on cent brokers. So people can do it literally risking a couple dollars. I’d have to check to see if there was suitable spreads etc offered on them, though. They can be kinda icky.
Now listen, I am serious … don’t be a dick. Don’t rush out next week trying to retire by the weekend. What I am showing you is the EXTRA rewards that come with being able to produce good solid results and being able to section off some money for high risk “all or nothing” attempts; using your proven strategies.
I am not saying anyone can open 6 trades and make $11,000 … that is rather improbable. What I am saying is once you can get the strategy side right, and you can know your numbers; then you can use the numbers to see where the limits actually are, how fast your strategy can really go.
This CKC concept is not intended to inspire you to be reckless in trading, it is intended to inspire you to put focus on learning the core skills I am telling you that are behind being able to do this.
Part     submitted by whatthefx to Forex [link] [comments]
I wanted to take some time to explain my purpose in posting this "Shorting Noobs" series here. In the posts, specifically. I've explained my theory for doing the project itself enough in Q/A in comments.
First let's cover a few things I am not here to do;
1 - Cocaine. Nasty habit.
2 - Undermine, mock or disrespect people new or losing in Forex
I hope this is apparent from my general tone in posts and answering questions. I do not think I am better than you, I know statistically speaking I do this a lot more than most of you. There are things you will be amazing in that I am a noob, it's really only a matter of time and focus. I do not use it as any sort of slur.
3 - Undermine people offering copy trading services
To be honest, I kinda like them. To see how others trade, especially if they do is systematically is fascinating to me. Much can be learned. I value watching people trade higher than airy statements about trading ideals, it gives real information.
4 - Promote Excessive Risk
Although there have been big swings in the strategy, this has not been me trying to ram the virtues of reckless risk down your throat. I recommend it only as part of a balanced diet. The strategy takes a lot of risk because what it is doing (lots of trade data from many sources). Not what I am doing, or suggesting you do.
5 - Sell Anything
I am not marketing any of the strategies I document. You will not be able to get software from me. I do not sell training. Already many people have asked me for training in DMs, and will be able to vouch I have no sales pitch (usually not even a direct answer, just a nudge in the suitable direction).
Now let's talk about what it is about.
I'll do this by sharing a couple DMs I have got.
Firstly, thank you to those who've sent these sorts of messages (if you've messaged me and not heard back in 2 days, please message me again - I'll reply, but keeping up with them is tricky). The fact that when I explain some logical things you can go and test independent of me and come to your own truth on the matter validates this is worth the time and effort. This is what I want you to do. Not believe me. Not buy my hype. Check your own trades against what I highlight.
I think the whole "should I short myself" topic is too long to be included in this post properly. Short answer I'd give is no. There's a far longer one. For brevity, what you should seek to do is understand the triggers for you making losing trades. The triggers for losing entries are also triggers for winning entries. Understand them and re-wire the way you think about the market.
I want to show you that mistakes people make are predictable. I think they are so predictable that I can reduce it to working out what strategy type Timmy is trading, and then "Activate Timmy" at a time I know that strategy is prone to loss, and rack up profits in his drawn down. I also want to show you that what I do does not "break" when there is a news event. It frequently compliments it and my qualifiers foreshadow it.
I want you to understand that as a way to offer you a form of empowerment in the markets. For as long as you believe we are at the whip and whim of these things we can never understand, you're driftwood in the waves. Where others find their excuses, I have found patterns. Where many of you have your frustrations is the root of my fortunes, and I am not smarter than you. I want to stress that. I'm average, but pedantic about precision and this is my job that I do every day.
I will now round up analysis and lessons from posts over the last week or so to consolidate a lesson for you that offers you the chance to instantly improve poor trading results. I'll show you how;
1 - How I explained the type of trading error theoretically.
2 - How I flagged up someone making the trading error in real time.
3 - How I profited from the other side of the trading error, and posted that forecast.
We are going to be looking at the area when downtrend turned to correction. We'll used GBPUSD as an example. My post is timestamped, you can see I posted these common mistakes we should look for longer before the GBPUSD price action I will reference. This is not retroactive curve fitting.
Someone posted a sell setup in here on GBPUSD. By up-vote court, trend continuation was the way to go. Unfortunately the poster later deleted their post, so I can not show you specifically the type of analysis they used. I'll say it was good analysis, 2/3 times. This was the 3.
Area they posted their sell analysis stating something to the effect the trend was down and there'd been a big correction. We can sell now, it might go up a little more but it's due a drop (I.e, Break&Re-test trade)
I'd call this a foreseeable mistake, and good opportunity to trade the other way when you understand the mistake. That's what I'd describe the mid week action as.
However, word on the street is ...
I sure didn't see that coming. Draw your own conclusions.
Following this move, I then posted this analysis. In the analysis I explained the 50/61.8 trap (see  )
Someone replied this (I'm not "calling out" this person. I hope they take this for what it is, and me just showing what people think vrs what happens, and how this can be 'known').
As well as explaining the trap type, the moves to avoid, the scalp possible in the immediate term and sort of price action to expect in a reversal (all just stuff to explain not making selling mistakes on this known mistake area), I also used another strategy to post where the buy for the run to the 61.8 area where be.
Full post https://www.reddit.com/Forex/comments/cu8d23/strategy_to_make_50_100_a_year_trading_one_day_a/
Then I bought at that level, posted we should expect a big pull back and re-load for further swing highs.
Full post https://www.reddit.com/Forex/comments/cufic1/strat_for_50_100_a_year_more_details_first_trade/
I posted my further entries in real time.
Which were profitable.
Full post https://www.reddit.com/Forex/comments/cujxgo/strat_for_50_100_a_year_common_points_example_of/
Through all of this, the market went about 10 pips against me in mid week trades, and then under 2 pips against me in all of my trades for today. When I entered, things just worked. Almost as if I 'knew' ... but there's no way that would be possible.
A person could not know on Tuesday what would happen the next days ...
A person could not tell you in the Asia session what to expect hour by hour in the coming trading day ...
A person could not draw tomorrows chart ...
Full post for all above
And of course, we know above all else ... No one can time the market.
What are the purpose of my posts here?
Just wanted to add a different perspective.
submitted by idrixoxo2015 to u/idrixoxo2015 [link] [comments]
INTRODUCTIONAccording to wikipedia, Blockchain is originally known as bloc chain, It is a growing list of records known as blocks which is linked using cryptography, each of these blocks contain a cryptographic hash of the initial block, a transaction data and a time stamp.
Since its emergence in the year 2008, when Nakamoto satoshi discovered and introduced bitcoin, there has been serious efforts to integrate the blockchain technology into several aspects of various process of global business , The blockchain technology has been described as having the potential to disrupt many industries with immutability, low-cost transaction, and enhanced maximum security. So many other blockchain implementations have been deployed and developed with unique features designed to specific use-cases.
The blockchain technology has made possible to issue assets through a distributed ledger framework. With cryptocurrency tokens, Assets can be given economic value in order to validate and initiate transactional processes.
ADVANTAGES OF BLOCKCHAIN:
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Masternode and Proof of Work X11 Blockchain
Wolfcoin Blockchain with X11 Proof of Work Mining and Masternode Reward Systems The Wolfcoin blockchain and network are both designed and engineered to ensure store of value, transactional speed and security, and fungibility. The main goal of the Wolfcoin blockchain is to facilitate fast and secure transactions with a governance that helps sustain the network for the benefit of all users. The Wolfcoin blockchain is a two-tier network comprised of a Proof of Work (PoW) consensus mechanism powered by miners and a Proof of Service (PoSe) system powered by masternodes.
The Wolfcoin blockchain is secured through Proof of Work (PoW) in which miners attempt to solve difficult problems with specialized computers. When a problem is solved, the miner receives the right to add a new block to the blockchain. If the problem was solved correctly, the miner is rewarded once the block is added.
The second tier, which is powered by masternodes, enables Wolfcoin to facilitate private and instant transactions with Private Send and Instant Send. Masternodes are also rewarded when miners discover new blocks.
The block reward is distributed with 80% going to the masternodes and 20% going to miners. The masternode system is referred to as Proof of Service (PoSe), since the masternodes provide crucial services that support the features of the network.
Masternodes also oversee the network and have the power to reject improperly formed blocks from miners. If a miner tried to take the entire block reward for themselves, the masternode network would orphan the block ensuring that it would not be added to the blockchain.
In short, miners power the first tier, which is the basic sending and receiving of funds and prevention of double spending. Masternodes power the second tier, which provide the added features that make Wolfcoin different from other cryptocurrencies. Masternodes do not mine, and mining computers cannot serve as masternodes.
Additionally, each masternode is “secured” by 10,000 WOLF. Those WOLF remain under the sole control of their owner at all times. The funds are not locked in any way; however, if enough of the funds are moved or spent to cause the user’s holdings to drop below 10,000 Wolfcoin, the associated masternode will go offline and stop receiving rewards.
By pre-ordering your WolfpackBOT subscription, you will also receive Wolfcoin as a reward that can be utilized in the following ways:
WolfpackBOT Automated Trading Software:After the crowdsale, Wolfcoin will be the exclusive method of payment for WolfpackBOT Automated Trading Software subscriptions.
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Copyrighted Crash Protection:Crash Protection, one of WolfpackBOT's most advanced features, enables users the option to automatically scan and convert all positions to a stable coin at the sign of our proprietary Hidden Bear Divergence Indicator, and then buy back into base currency to resume trading at the sign of our proprietary Hidden Bull Divergence Indicator.
Language Translator:WolfpackBOT has a built in Language Translator that instantly translates the entire BOT into Dutch, English, French, German, or Spanish.
All Trading Pairs on all available Exchanges:WolfpackBOT allows our customers to simultaneously trade on multiple cryptocurrency exchanges, and with all the exchange’s trading pairs available for trading. The best part is that it’s all possible on one bot with one subscription to the WerewolfBOT package!
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Werewolf Configurations and Settings:Werewolf Configurations and Settings are copyrighted trading algorithms that use proprietary optimum settings for trading: the perfect configuration for experienced and inexperienced traders alike. These settings can be adjusted to the current market trend, with preset configurations for bear, sideways, and bull markets.
Werewolf Ultimate:Werewolf Ultimate is the ultimate choice when trading. It doesn't trade a particular trading pair or particular coins, it trades them all. It goes in for the kill to increase the potential returns. Crash Protection is a built-in feature in Werewolf Ultimate.
Werewolf Bull Market:Werewolf Bull Market are preset settings and configurations that are usable when your Base Trading Pair is in a Bull Run. Werewolf Bull Market settings are optimized for such conditions and should only be used in a Bull Run Market.
Werewolf Sideways Market:Werewolf Sideways Market are preset settings and configurations that are usable when your Base Trading Pair is trading sideways. Werewolf Sideways Market settings are optimized for such conditions and should only be used in a Sideways Trading Market.
Werewolf Bear Market:Werewolf Bear Market are preset settings and configurations that are usable when your Base Trading Pair is in a Bear Run. Werewolf Bear Market settings are optimized for such conditions and should only be used in a Bear Run Market.
The WolfBOX Hardware Console:WolfpackBOT also offers an industry first: a beautiful hardware console, The WolfBOX. Our console comes preloaded with WolfpackBOT Automated Trading Software and also includes a built-in secure hardware wallet. Some of the key features of the WolfBOX include our high-speed CPU, solid-state hard drive, built-in RFID card reader, and integrated Bitpay and Coinbase wallets.
Wolfpack ConsultingOur company offers its services and expertise as Cryptocurrency and Blockchain Specialists to individuals and companies. We offer consulting services in the fields of blockchain and cryptocurrency development and management.
Wolfpack PhilanthropyWe are dedicated to the proposition that we have a responsibility to use a portion of our company’s revenue to help create a better world and a brighter future. As we move forward, our philanthropic efforts include environmental stewardship, renewable energy, human rights, economic development, as well as animal and wildlife rescue and conservation with an emphasis on dogs and wolves.
Wolfcoin InformationTHE WOLFCOIN Wolfcoin is the coin that fuels all WolfpackBOT's projects.
This utility, coupled with the reward systems with mining and Masternoding capabilities, makes the use of Wolfcoin potentially appealing to all WolfpackBOT users whom are interested in receiving additional Wolfcoin for subscriptions, merchandise and other rewards such as passive cryptocurrency portfolio growth.
THE WOLFCOIN WALLET WolfpackBOT uses our proprietary Wolfcoin Core QT wallet.
February 2018 Conceptual development of WolfpackBOT Software
May 2018 Company Roadmap development Alpha models of WolfpackBOT Software
June 2018 Ongoing research, development, and testing
October 2018 Advertising and Marketing Campaign Starts Wallets available for payment; BTC, BTG, DASH, DOGE, ETC, ETH, LTC October 15 - Pre-registration begins
November 2018 November 1 - Crowdsale Stage I begins
December 2018 Official presentation of WolfpackBOT beta Software Preview Creation of Wolfcoin (WOLF: 300,000,000 coins pre-mined on Genesis Block) WolfpackBOT beta Software release to selected customers
December 21 - Launch network and mine Genesis block
December 22 - PoW / Mainnet
December 23 - Blockchain and network testing
December 28 - Iquidis Wolfcoin Block Explorer released on our website
January 2019 January 1 - Wolfcoin Core wallets available for download on the website January 1 - Wallet and Masternode Tutorial available January 1 - Masternode and PoW instructional videos available January 1 - Subscription Pre-order Coin Rewards disbursed Announcement listing WOLF on top-10 Exchange
February 2019 February 1 - Crowdsale Stage I Ends February 1 - Crowdsale Stage II Begins
March 2019 March 15 - Crowdsale Stage II Ends March 15 - Crowdsale Stage III Begins WolfpackBOT Software roll-out to contributors WolfBOX Console available for Pre-order
April 2019 WolfpackBOT Subscriptions available for customers First Major version released: automated, manual, and paper trading WolfpackBOT Live support center April 30 - Crowdsale Stage III Ends
May 2019 WolfBOX Consoles Pre-orders first shipment
June 2019 New trading features such as new exchanges, strategy options and indicators
July 2019 New trading features such as new exchanges, strategy options or indicators
August 2019 WolfpackBOT Software Trading Platform V2.0 Second major release: Strategy Marketplace and Back-testing
September 2019 New trading features such as new exchanges, strategy options or indicators
October 2019 WolfpackBOT Software Trading Platform V3.0 Third major release: Signals Marketplace (Supporting 3rd Party App Signals) Mobile Application for WolfpackBOT Software and Trading Platform
November 2019 New trading features such as new exchanges, strategy options or indicator
December 2019 WolfpackBOT Software Trading Platform V4.0
January 2020 WolfpackBOT Software Trading Platform V5.0 Fourth major release: Machine Learning Strategy Optimization
THE AMAZING TEAMPhilip Longhurst Chief Executive Officer The leader of our pack and the man behind the WolfpackBOT trading bot, Philip Longhurst is a mathematical genius, engineer, day trader, and animal rescuer. As an account manager for J.P. Morgan and MBNA Bank, Phil managed the accounts of several high-profile clients and businesses. He has been successfully trading stocks for over twenty-five years and has successfully applied his trading expertise and mathematical acumen to the cryptocurrency market since 2013.
Philip holds bachelor's degrees in mechanical engineering and business administration and is a loving husband, father, and family man who has been rescuing dogs since 1995. His driving desire is to use the success of Wolfpack Group to create a brighter future for humanity. He currently resides in the United States of America with his wife, daughter, and dogs.
Rogier Pointl Chief Financial Officer Rogier Pointl is a successful entrepreneur with nearly twenty-five years of experience in business management, marketing, financial administration, economics, and fintech. Rogier holds bachelor's degrees in Business Communications and Financial Administration. He is a pioneer in the field of virtual reality, having served as CEO and owner of Simworld, the first virtual reality racing center in Europe, where he oversaw the development of advanced simulator and virtual reality hardware and software.
Rogier is an experienced trader and has been trading stocks since 2007. He began applying his expertise to the cryptocurrency market in 2010, gaining experience as a Bitcoin miner along the way. Rogier is a loving husband and father and currently resides in the Netherlands with his wife and two daughters.
Jason Cormier Chief Technical Officer Jason Cormier is a humble -but extraordinary- individual who is blessed with a Mensa IQ of 151, he is continually driven by a desire for knowledge and self-growth. He is self-taught in Visual Basics, C#, C++, HTML, and CSS and began developing programs and applications at the age of 14, including the TCB Wallet, which was the first ever wallet program that held its users' log in names and passwords. Jason is a cryptocurrency guru whose expertise includes cryptocurrency mining farms, proof-of-stake, masternodes, and cryptocurrency trading.
Jason holds Associate degrees in Computer Science and Psychology, and currently resides in the United States of America with his wife and son.
Jay McKinney Chief Web Development and Design Officer Jay is a veteran of the Iraq War who put his life on the line in combat to protect our freedoms. To center himself while stationed in the Iraqi warzone, he taught himself C# as he knew honing his Web Development skills would help him provide a better future for himself and his family. Upon returning home safely, he worked his way through college and holds bachelor's degrees in Computer Programming and Web Development & Design.
Jay has worked for the Kentucky Housing Corporation, serving as a software engineer and web developer. He is a loving family man who currently resides in the United States of America with his wife and two children.
David Johnson Chief Software Development Officer David holds a Master of Science degree in Information Systems and a Bachelor's degree in Business Administration with a specialization in Information Systems, graduating with Magna Cum Laude status. He has worked for the Kentucky Housing Corporation, serving as a network analyst and software engineer. As an entrepreneur, he has owned his own web and software development company since 2009, creating and maintaining several websites in C# and PHP, and has been operating the crypto-oriented YouTube channel BigBits since 2017, where he discusses automated Cryptocurrency trading strategies.
David is a proud father of two and resides in the United States of America with his wife and children. Like any good Kentuckian, he is a huge fan of the University of Kentucky's college sports teams.
Gabriel Condrea Software and Web Development Officer Gabriel Condrea holds a bachelor's degree in electrical and computer engineering and has worked as a software developer and senior systems engineer in both the United States and the United Kingdom, working with a variety of programming languages and IDEs. He has used his expertise to create Manufacturing and SCADA systems in industrial applications.
Gabriel also applies his engineering skills to cryptocurrency day trading, seeking to automate the process. He loves to travel and currently resides in the United States with his girlfriend.
Igor Otorepec Chief Hardware Development Officer Igor is an engineer with twenty years of experience specializing in advanced PLC programming and industrial robotics. He is also an IT security expert and a CEC Certified Ethical Cracker who uses his skills to expose and patch security vulnerabilities in blockchain codes.
Igor is an advanced cryptocurrency trader and Kung Fu master who uses bio-hacking as a way of life to keep his 'chi' constantly centered. He currently resides in Austria with his loving wife.
Manik Ehhsan Director of Marketing and Public Relations Manik holds a Bachelor's degree in Computer Science and has over five years of experience in Web Development, Digital Marketing and Graphics Design. He has also managed the marketing for more than 30 successful Cryptocurrency start-ups and projects, and specializes in SEO and ASO. Manik is also a Cryptocurrency project promotion expert with an emphasis on Masternodes and building Social Media Communities.
Manik has focused his life on Cryptocurrency and currently resides in Bangladesh with his loving family.
Rance Garrison Chief Marketing Officer Rance Garrison holds a bachelor's degree in Business Administration and specialized in Seminary Studies for his Master's degree. He served as an AmeriCorps VISTA at WMMT-FM, the radio station owned by Appalshop, an arts and education center in Kentucky, and has also specialized in local cable television advertising. Rance is also a musician who has released several albums independently over the last decade.
Rance is very dedicated to his local community and is most excited by the potential implications of cryptocurrencies and blockchain technology for rural and remote economies. He currently resides in the United States of America with his wife, dog, and cats.
Paul Gabens Chief Public Relations Officer A master negotiator with a penchant for strategy, Paul Gabens brings more than twenty years of marketing and promotional experience in the automotive, hospitality, and entertainment industries to the Wolfpack. He is also an avid stock and cryptocurrency trader, having first entered into the cryptocurrency market two years ago, embracing his passion for crypto with the same vigor as his love for travel, classic cars, extreme roller coasters, and surfing.
Paul holds degrees in business management, marketing, and automotive aftermarket. He currently resides in the United States with his fiancé and two cats.
Blake Stanley Marketing and Social Media Officer Blake Stanley is a cryptocurrency enthusiast who also has over six years of experience managing both government and private sector client and customer relations. A strategic thinker and expert in the field of social media-based advertising, Blake also owns and manages his own online marketing company where he has been successfully curating and implementing online marketing and advertising strategies for his clients for the past three years.
Blake is a proud father and family man and currently lives in the United States with his daughter and fiancé.
Martin Kilgore Market and Trading Analyst Martin Kilgore holds bachelor’s degrees in both accounting and mathematics, having researched Knot Theory and the Jones Polynomial during his undergraduate studies, giving him a firm edge when analyzing market conditions. He has worked as a staff accountant for several governmental organizations.
Martin lives in the United States with his fiancé.
Jonathan McDonald Chief Trading Strategy Officer Jonathan has honed his trading skills over the past five years by studying and implementing economics, financial strategy, Forex trading analysis and trading bots. Through his constant learning, he discovered Cryptocurrency after seeing the difference in market volatility and high yield trading. His fine-tuned trading strategies complement Crypto markets perfectly, and he has been implementing trading strategies to the Cryptocurrency market for over a year with phenomenal results. Jonathan is constantly improving his trading skills with an emphasis on scalping techniques. He has applied his trading skillset to the WolfpackBOT and enjoys working alongside the Wolfpack in creating the fastest trading bot on the market.
Jonathan currently resides in Canada with his supportive girlfriend and family.
Web site: https://www.wolfpackbot.com/
Technical document: https://www.wolfpackbot.com/Pdf/whitepaper_en.pdf
Bounty0x username: idrixoxo
Forex Backtester free download - BackTester, Robot Forex 2014 Profesional, Forex All-In-One-Widget, and many more programs The third and last step is to download a forex backtesting software called Soft4FX. Soft4FX is not a standalone software, but an expert advisor for MetaTrader 4. It has its own interface, but it relies on MetaTrader for key functionalities such as charting tools, sound effects, and other design elements. The reason we use Soft4FX is that it’s a great alternative to expensive backtesting ... So I decided to revisit the Forex backtesting software landscape this year and take a good hard look at all of the viable options out there. Maybe there's something that's better, and at a cheaper price. If there is, then I would love to recommend it to my readers as a better solution…or at least a viable alternative. To that end, I researched all of the manual Forex backtesting software ... Software that will allow you to find the working methods and dismiss the losing ones while you backtest your strategies. Get Forex Tester, the best trading simulator for backtesting, a training platform and a prediction app all in one, and make every trade work for your total success on the currency market Forex backtesting software is a type of program that allows traders to test potential trading strategies using historical data. The software recreates the behaviour of trades and their reaction to a Forex trading strategy, and the resulting data can then be used to measure and optimise the effectiveness of a given strategy before applying it to real market conditions. Backtesting your trading strategy may show you that the strategy would have worked in the past. But the forex market is dynamic and there is no guarantee that a strategy that was profitable in the past will remain profitable in the future. In other words, past results are not a foolproof indication of future performance. It’s useful to have another test that helps determine the soundness of ... Backtesting a trading strategy in Forex or any other type of market is vital if you want to have a profitable strategy or if you want to optimize your strategy to gain better results. Sometimes your strategy is performed without any EAs or trading robots so you need to take a manual approach, however, doing all the backtesting completely manually is very hard so we can do that with the help of ... Finding Quality Backtesting & Forecasting Software Is Not Easy! In-Depth Review of 7 Top Trading Strategy Testing Platforms For Stocks, Fx & Crypto . Learn. Our 5 Best Stock Market Investing Courses & Services; PRO Stock Market Training – From Beginner To Professional; How to Avoid the Next Stock Market Crash [Stock System] Podcasts – Learn Stock Market Investing & Trading; 20 Best Ways to ... Like in any other business, experience is the key in order to be successful in forex trading. Developing a trading strategy over time, that will define the way how you approach trading, is just the first step in becoming a profitable trader.. Your trading strategy might not work the way you imagined, and it can turn out that the strategy is not profitable at all.
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