No need to find a coder after all. I found and downloaded an indicator sort of like the one above (to the right) and figured out how to alter the code so it would only return absolute values, which turned out to be an extremely easy process. Now I have exactly what I wanted...
1.8% Profit per Day Compounded over 220 Days
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I am very happy for you.
The feeling that one finally solves the puzzle is priceless.
Thanks! Someday I hope to be making enough money to begin helping others who are in the same situation I'm in now, though I will need to be cautious. If you try to help people who don't have the right mindset or attitude, they will turn around and bite you.
Monday / March 16, 2020 / 8:30 AM PST
Yesterday I began anew, attempting to apply WEC and Numerical Price Prediction in a more strategic manner so as to realize rewards several times the size of my risk. (As it turns out, I decided to use OANDA rather than NADEX after all.)
Out of 33 tries, it took me about 20 shots (primarily the last six) before I finally started to figure things out. As a result, I ended with what I consider to be, for me personally, a rather abysmal daily success rate of only 58%. (In my opinion, anything below 85% tells me that I don't know what in the world I'm doing.)
In the end however, I went from typical trades of just a few pennies to perhaps $4.00 maximum to trades of $4 to $18. Now if I can get my percentage of winning trades back up to where it was before while still maintaining the same reward-to-risk ratio, this foray will have been well worth the effort...
(P.S. This is still part-time trading. I should be able to do much better once I'm free to trade full-time.)
Yesterday I began anew, attempting to apply WEC and Numerical Price Prediction in a more strategic manner so as to realize rewards several times the size of my risk. (As it turns out, I decided to use OANDA rather than NADEX after all.)
Out of 33 tries, it took me about 20 shots (primarily the last six) before I finally started to figure things out. As a result, I ended with what I consider to be, for me personally, a rather abysmal daily success rate of only 58%. (In my opinion, anything below 85% tells me that I don't know what in the world I'm doing.)
In the end however, I went from typical trades of just a few pennies to perhaps $4.00 maximum to trades of $4 to $18. Now if I can get my percentage of winning trades back up to where it was before while still maintaining the same reward-to-risk ratio, this foray will have been well worth the effort...
(P.S. This is still part-time trading. I should be able to do much better once I'm free to trade full-time.)
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Monday / March 16, 2020 / Midnight
In investigation how to get my percentage of winning trades back up to where it was before while still maintaining a high reward-to-risk ratio, a number of facts became clear...
First of all, if I'm going to maximize profits, full-time trading is most definitely the way to go.
Second, in analyzing the successful trades yesterday, and evaluating why nine of today's trades were successful and two were not, there emerged a very clear-cut protocol for picking entry levels that should virtually eliminate losing trades going forward.
However, it also made clear that selecting take profit targets designed to generate returns in excess of $4 per trade/position (trading 0.02-sized lots) is simply not pragmatic in that price just does not behave in this manner. It’s movement is too haphazard, with today's losses occurring when zigzagging price action saw rates double back and hit my stop losses.
Though the new protocol for picking entry levels should prevent this from happening in the future (more often than not) what is likely to occur instead is price will simply bounce back and forth making no progress at all. The way to make money is by monitoring positions and exiting trades at maximum amplitudes—as the corresponding waves are forming their crests or troughs—not by picking “pie in the sky” take-profit targets somewhere off in the distance.
If one happens to catch a wave that begins to run—fantastic! Go ahead and ride it for a $17 payoff or more. But this will be dictated by the cycles. One never knows for sure when this is going to happen, so there is no guaranteed way (with like 90% accuracy) to confidently set such targets in advance, hence the need for full-time trading if such opportunities are to be taken advantage of when offered to enjoy their benefit without damaging a near 100% success rate.
This is pretty much the same thing I've concluded in the past. But these past two days have added to the simplicity and clarity of the charts and protocols I will be using to carry it out.
In investigation how to get my percentage of winning trades back up to where it was before while still maintaining a high reward-to-risk ratio, a number of facts became clear...
First of all, if I'm going to maximize profits, full-time trading is most definitely the way to go.
Second, in analyzing the successful trades yesterday, and evaluating why nine of today's trades were successful and two were not, there emerged a very clear-cut protocol for picking entry levels that should virtually eliminate losing trades going forward.
However, it also made clear that selecting take profit targets designed to generate returns in excess of $4 per trade/position (trading 0.02-sized lots) is simply not pragmatic in that price just does not behave in this manner. It’s movement is too haphazard, with today's losses occurring when zigzagging price action saw rates double back and hit my stop losses.
Though the new protocol for picking entry levels should prevent this from happening in the future (more often than not) what is likely to occur instead is price will simply bounce back and forth making no progress at all. The way to make money is by monitoring positions and exiting trades at maximum amplitudes—as the corresponding waves are forming their crests or troughs—not by picking “pie in the sky” take-profit targets somewhere off in the distance.
If one happens to catch a wave that begins to run—fantastic! Go ahead and ride it for a $17 payoff or more. But this will be dictated by the cycles. One never knows for sure when this is going to happen, so there is no guaranteed way (with like 90% accuracy) to confidently set such targets in advance, hence the need for full-time trading if such opportunities are to be taken advantage of when offered to enjoy their benefit without damaging a near 100% success rate.
This is pretty much the same thing I've concluded in the past. But these past two days have added to the simplicity and clarity of the charts and protocols I will be using to carry it out.
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Tuesday / March 17, 2020 / 8:15 AM PST
As it turns out, Monday's haul was comparable to Sunday's, even though I made only half as many trades. EURUSD decided to reverse direction on me, about which there is nothing I can do, so if that had not happened, I would not have had any more losses.
The fact that I was still able to manage a $9 best trade (with a 0.02 lot size) and only one additional loss, even though I am still trading sporadically rather than full-time, and that my daily return is currently around 5% of my equity as opposed to 1.8%, I am likely to continue using this new protocol until and unless something better emerges.
As it turns out, Monday's haul was comparable to Sunday's, even though I made only half as many trades. EURUSD decided to reverse direction on me, about which there is nothing I can do, so if that had not happened, I would not have had any more losses.
The fact that I was still able to manage a $9 best trade (with a 0.02 lot size) and only one additional loss, even though I am still trading sporadically rather than full-time, and that my daily return is currently around 5% of my equity as opposed to 1.8%, I am likely to continue using this new protocol until and unless something better emerges.
After making a few more sporadic trades between preparing a salad for dinner later on today and getting ready to go to the market in a couple of minutes, I managed to bring the day's success rate up to 85% where it belongs (though above 90% would have been better) and its haul up to $37 or about 7% of equity, which leads me to believe that a 10% daily return using this protocol to trade full-time is not out of the question.
Wednesday / March 18, 2020 / 11:40 AM PST
So, until I maybe double my account balance and/or begin trading full-time, it looks like what I can expect is to pull in about $20 to $30 a day at about 4% of equity with an 80% to 90% success rate averaging from around $1 to $6 per trade.
So, until I maybe double my account balance and/or begin trading full-time, it looks like what I can expect is to pull in about $20 to $30 a day at about 4% of equity with an 80% to 90% success rate averaging from around $1 to $6 per trade.
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