Elite Trader's Gambler's Anonymous ETGA

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Intersting development. AUD/JPY took a nasty turn against the system as predicted.

GPB/CHF in all its glory and a few spiked EUR/HUF positions gave me an opportunity to take out one losing AUD/JPY position out...(only 1k units so far) I did not replace them, and left the exposure down, but in proportion. Were at base 11.4 from 12.4 and the "Gambling Meter" is at 3.79. This should be an interesting "carry cycle"...

Michael B.
 

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Ok, I got it to base 10.4 and took out another losing AUD/JPY with a combination of GBP/CHF and EUR/HUF resulting in a neutral trade..

We are in Ideal proportion at interest reporting time (17:00-17:30 est) I am in hopes of turning down the "Gambling Meter".

Michael B.
 

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ok...got down to base 9.4...looking good. All this posturing has given $3.19. hehe. But this is necessary to chase that price. Today, interest gets paid at 17:00-17:30 as usual.

Remember this is only a 5k account, but I trade it as if it were 5 million. In retail Spot Forex, the liquidity is never a problem, and I use scaling techniqes that accomodate any size that can be thrown at Forex...I asked Oanda about size, and they have 10 million dollar accounts and higher trading there. They also can accomodate larger accounts with segregation into an insured situation.

Michael B.
 
Now Folks,

You can use any Forex Dealer or Market Maker. Its just I need the fine tuning of single units with the small amount of capital I am trading. There are many features in Oanda that I use...almost all of them! Your dealer must have the capability of line item closing and just not limited to "first in-first out" technology.

Now if you have more capital to trade and do not wish to trade with Oanda, I suggest you have enough capital to trade mini's (10k unit increments) or even better base 10 (no relation to the base 10 terminology in this system) over at FX Solutions (1k unit increments).

This would take a considerable amount of Capital to trade this system outside of Oanda...

Scalably Speaking :)....Trading is "Not Gambling"

:)

Michael B.
 
Got down to base 8.4, but might NOT be able to lock proportion in GBP/CHF (the spreadsheet shows the "ideal" goals and over 99% of the time the actual holdings match the values).

I will change the "Available Margin" goal to $150.00 from $200.00, because of the reduced exposure netting less portfolio volatility.

I am curious to see where the "Gambling Meter" will end up today.

Michael B.
 
Folks remember, when I buy my Airline Tickets, I ask for the "Not Gambling" section.

I have reached my required numbers, and "Dialing Down" is a good thing.

Michael B.

P.S. Dial 10, 9, 8, 7, 6, 5, 4, 3, 2, 1 to reach "The Not Gambling Hotline"
 
Electric,

Why are you curious where the "Gambling Meter" will end up today?

You have got everything "Dialed Down" so far, eventually you will not be trading at all...then you will be a legend in your own mind :)

If you would just apply yourself and set your goals and expectations just a little higher?

I know, I know...the rose/thorny thingy....You preach to new traders to set their expectations lower but I did not believe you meant to not trade at all !

But to be fair, this system is a carry system, and with all the activity with it lately, has made it look like its a trading system. I think your ability to set the sliding scales on the fly and keep the average price close to the current price, will increase the trading in this system based on your discretionary ability and speed to react.

Knock this candlestick and channel analysis off in this Journal...Leave that for your other systems and Journals ok? Even Support and Resistance discussions can be eliminated from this Journal as it has nothing to do with the increments. Your just confusing people. Please trade this system the EXACT way you are publishing it, which you are doing. I am sorry for being such a Bit** but it is necessary for the readers and the rest of the "Establishment" to trust that you are not flipping all over the place and are controllable and disciplined.

Electric, I know you can trade and quit showing off. Just keep your feet on the ground and plug away at the boring job of execution. Keep your creativity alive and continue in the many spreadsheets that you keep, and research that you do. But those are for other days and other times even if they make triple the amount of money. Keep some things to yourself. (by the way, Spydertraders abilities in scalping blow yours away, even if there was some GBP/CHF power left....have you read his Journal?)

You need to demonstrate that this is a low DD system with a high risk to profit ratio, because that is what they want! Prove balance & consistency and the trading world will be in your hands in a few years...or even better just continue trading your own money as you have...They will beg for you, you'll see.

I promise you if you hold 10 years of consistently profitable trading ratio's with a "reasonable to low", drawdown, you will be up there with the Market Wizards. Shoot for the Stars Electric...

Wifey
 
Correction:

Replace high with low

You need to demonstrate that this is a low DD system with a high risk to profit ratio

Wifey

The thought is low drawdowns and high consistent profits year after year. Not astronomical jumps up and down...just reliable yields...(could you imagine 100% per year engraved in stone with "not gambling" credentials) What is needed is slight adjustments and good execution with the goal to "slide" the scales and "dial in" the desired yield. Get control of this and you may have what you wish.
 
Quote from MrsSavant:

I promise you if you hold 10 years of consistently profitable trading ratio's with a "reasonable to low", drawdown, you will be up there with the Market Wizards. Shoot for the Stars Electric...

Wifey
More...

Again, your focus is improper: it's about making money, not some ephemeral 'glory'...

P.S. Will I get deleted for this comment once again? :(
 
Quote from Sympatico:

Again, your focus is improper: it's about making money, not some ephemeral 'glory'...

P.S. Will I get deleted for this comment once again? :(
More...
You didn't get deleted for that comment. Make sure there are no personal attacks or abusive comments, stay on topic, and no free recruitment/advertising and you won't ever have to concern yourself with getting deleted.
 
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