"TUTS" stand for "The Ultimate Trading Setup"

I've been running FAP for the last 2 years or so, on and off. You loose some then you switch it off. In a few months you get back to trading and start up FAP again. You win some, you loose some and then you switch it off again. That is pritty much how it has been going with me. Maybe it has been the same with you...

Anyway, I was thinking over the weekend of a way to make FAP profitable. That would be the ultimate right? I mean, that is why we all are here, testing and testing and testing. Some great ideas and settings are floating around, but they all seem to fail sometime in the future.

Why do some indicators work today, but the fail tomorrow. What are indicators> What do they tell you? Can an indicator predict the future? How can you utilize something that happened in the past to predict the future? That is what it is about right? Looking at the past and predicting the future.

Just some of the questions I boggled through over the weekend.

So, Monday morning I woke up and find myself with a very interesting idea. Sorry, but I'm not going to share this right away, but I would like to get everybody thinking the same way I did. If you are not up for it then simply move on to another thread, but if you would like to change gears on FAP and start thinking outside of the box, you might wanna stick around!

So, what I have at this stage is the following:

I'm trading a Live Mini Account with IBFX. My account balance is $552.00.

This is what I got up until today:

Lot Size: 0.05 - 0.10
17 Trades
17 Winners
Max DD: 1.01%

Now I know it's been only 4 days, but I have to add that the trades were very accurate. You can see it in the DD.

So, anybody is welcome to join me as we explore the journey to "TUTS". Think about the questions I posted above and leave some comments. Think of why, how, when, for how long and so forth.

Checking back tomorrow

Yeah!

Bring it on...

Lets make some pips

Ok, here are my results so far

I have up the lot size to 0.22 on $550 account balance mini acc ibfx

20 trades
18 winners
2 open
4.5% DD

Will wait and see what happens later today, but will shutdown ea at about 13:00 GMT.

looking forward to your tests.

__________________

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Most people would say that money management is the most important aspect of forex trading. I agree, but it's not the only important aspect. Your account balance plays a huge roll in your forex trading career. This is why:

Everybody is into forex trading to make money. This is where a small account balance becomes a problem. Let’s assume you have an account balance of $500 and managed to make 20% profit during your first month's trading. You would have made $100 profit, which is not a lot of money, but a very good roi. The problem with many traders is that they don't look at the 20% but rather at the $100. Now they realize that they will never get rich only making $100 extra each month. They up the risk, trade bigger lots in order to increase their profit and bang, they pick up a bad trade and blow their account. That is why you should always trade in relation to your bank account balance.

Use a spreadsheet and do a monthly budget. You should know exactly how much money you can make realistically without risking your account balance. You must know that you will not make $1000 per month if your account balance is only $500. By increasing your risk you might make more money this week, but you will not be able to handle the dd and loses. Your trading career will end before you know it and you will have lost all your money.

Realistically? Personally I would be happy to make 10% per month. Month after month.

What are your expectations?

So, many people would give now, because I'm sitting with a 21% dd on my account. To me this is just another opportunity to explore the possibility of avoiding dd's like these. However, using my knowledge i build up over the pas two years, I'm pretty shure I'll be out of the dd later this week.

Anyway, I put in a manual order as my desktop is in for repairs and I cannot run FAP ea on my notebook. So, I short EURUSD at 1.3639 and am up 46 pips. Please note this is a manual trade as my FAP ea is not connected to the internet.

Aa soon as I have my desktop back, which should be later today, I'll try and optimize fap in order to avoid such a big dd. Will be posting my findings shortly. Although, i would like to blaim it on Friday, but let's not do that as yet as I would like to get fap to operate in all conditions.

Be back soon...

Ok, so I'm still down at about 20%. I'm extremely excited though, because I've just found another setting that is not working very well. Still doing ok I think, picked up another 6 winners. Still busy optimizing with different strategies. This will be a work in progress stretegy, but everytime I fail, I'm one step closer to succeed. By the way, I have not failed as my live account is still alive and kicking.

Cheers for now!

So, here is the link to my Live Statement for the last 2 weeks: http://www.shoptheworld.co.za/05.04-23.04.htm

What do you think?

Well, I think I did pretty well. I'll be shutting down for the Friday and start FAP up Monday morning.

Have a great weekend all of you!

Cheers!

So I have setup my Mt4Stats page at http://sitestuff.mt4stats.com/

Regards,

Attached Images

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