Hi all,
I have been pretty busy recently, if you want to follow the trades carried out by my robot just click on the following link:
http://www.dukascopy.com/strategycontest/?action=blog&trader=pipscity
My last robot is also available for free on that website!
lundi 6 juin 2011
vendredi 15 octobre 2010
JForex Context: 2nd prize
Well, i have managed to finish 2nd for my first participation at the Jforex contest, the bad news is that i have been leading the contest for quite a while before loosing the lead just 3 days before the end of the contest.
Anyway i itend to share the code with you guys, i did a lot of mistakes in the code but some part of it might be useful for you guys that are starting to learn the language.
I will explain the code later on.
Strategy can be found just here: JForex September Strategies
vendredi 8 octobre 2010
Interesting email from IBFX
I have just received an email from an american broker:IBFX, it seems the new US regulation for US broker just kicked in.
Anyway the interesting part was the little table at the end of their email:
Interbank FX Account Profitability – Quarterly Report
Sep - Dec, 2009 Jan - March, 2009 April - June, 2009 July - Sep, 2009
% Profitable 33% 28% 27% 28%
% Unprofitable 67% 72% 73% 72%
Total Non-Discretionary Accounts 18,597 17,940 17,442 16,122
Basically this is telling us around 70% of trader are not cashing any money during a quarter which is not really news but it's nice to see the real numbers.
Keep in mind that just because of the spread there is going to be always more looser than winner(the house is the winner).
Around 30% profitable accounts also prove that someone with skills above the average got a chance to be a winner in the forex market.
It would also be interesting to see numbers for a full year and not a quarter as we should expect that number to be significantly lower than 30%.
Finally the number of non-discretionary account at IBFX is going down at quite a fast pace.
Anyway the interesting part was the little table at the end of their email:
Interbank FX Account Profitability – Quarterly Report
Sep - Dec, 2009 Jan - March, 2009 April - June, 2009 July - Sep, 2009
% Profitable 33% 28% 27% 28%
% Unprofitable 67% 72% 73% 72%
Total Non-Discretionary Accounts 18,597 17,940 17,442 16,122
Basically this is telling us around 70% of trader are not cashing any money during a quarter which is not really news but it's nice to see the real numbers.
Keep in mind that just because of the spread there is going to be always more looser than winner(the house is the winner).
Around 30% profitable accounts also prove that someone with skills above the average got a chance to be a winner in the forex market.
It would also be interesting to see numbers for a full year and not a quarter as we should expect that number to be significantly lower than 30%.
Finally the number of non-discretionary account at IBFX is going down at quite a fast pace.
samedi 11 septembre 2010
JFOREX: Money Management
Hi,
I have been very busy lately, i have just registered to the JFOREX contest and i had to write a robot in less than 1 week.
Anyway i have been learning a lot on JFOREX during that time, and i am pretty happy with what i have been able to achieve.
For you guys interested in JFOREX, i will put a few scripts on that website, hopefully it will help some of you.
To start with the basic here is the code you can use for money management:
As you can see good money management is pretty simple ,-)
The following Script will always put only 5% of your equity at risk (just make sure you close your position before weekend etc)
EqAtRisk=5;
stopLoss=20; //20 pips
tickValue=1000000*instrument.getPipValue(); //1M is Dukascopy standard size
riskAmount = this.acctEquity * this.EqAtRisk/100;
myLot = (riskAmount/stopLoss)/tickValue;
I am not rounding the lot size because Dukas can handle it.
I have been very busy lately, i have just registered to the JFOREX contest and i had to write a robot in less than 1 week.
Anyway i have been learning a lot on JFOREX during that time, and i am pretty happy with what i have been able to achieve.
For you guys interested in JFOREX, i will put a few scripts on that website, hopefully it will help some of you.
To start with the basic here is the code you can use for money management:
As you can see good money management is pretty simple ,-)
The following Script will always put only 5% of your equity at risk (just make sure you close your position before weekend etc)
EqAtRisk=5;
stopLoss=20; //20 pips
tickValue=1000000*instrument.getPipValue(); //1M is Dukascopy standard size
riskAmount = this.acctEquity * this.EqAtRisk/100;
myLot = (riskAmount/stopLoss)/tickValue;
I am not rounding the lot size because Dukas can handle it.
vendredi 27 août 2010
Oil getting close to his resistance level
There was a very interesting signal yesterday, Oil approached to his resistance level and channels were pierced (see picture).
I then decided to enter with a buy order at 72.93.
The prices then rocketed over 75, unfortunaly i played it safe with a stop 20 point above my BO and i made only 2% Roi on my equity...
Graph to follow:
samedi 5 juin 2010
Forex: Money Management
if you are Trading without any kind of Money management you will be sooner or later in trouble.
Reason being you dont know your potential losses if you havent calculated properly your lot size depending of your stop loss and leverage.
Following is a function showing how this can be done in MT4:
The risk variable represent the percentage of equity you are willing to loose: ex: 0.02 for 2 percent.
You then specify a stop loss for your current order and the function will calculate the number of lot you should buy.
double MyLotSize(double risk, int stopLoss){
double point=MarketInfo(Symbol(),MODE_POINT);
double riskAmount = AccountEquity() * risk;
double tickValue = MarketInfo(Symbol(), MODE_TICKVALUE);
double myLot = (riskAmount/stopLoss)/tickValue;
return (myLot);
}
Depending of the broker and type of account you might have to adjust the function, for instance you might have to normalize your lot number.
Reason being you dont know your potential losses if you havent calculated properly your lot size depending of your stop loss and leverage.
Following is a function showing how this can be done in MT4:
The risk variable represent the percentage of equity you are willing to loose: ex: 0.02 for 2 percent.
You then specify a stop loss for your current order and the function will calculate the number of lot you should buy.
double MyLotSize(double risk, int stopLoss){
double point=MarketInfo(Symbol(),MODE_POINT);
double riskAmount = AccountEquity() * risk;
double tickValue = MarketInfo(Symbol(), MODE_TICKVALUE);
double myLot = (riskAmount/stopLoss)/tickValue;
return (myLot);
}
Depending of the broker and type of account you might have to adjust the function, for instance you might have to normalize your lot number.
samedi 29 mai 2010
FXopen got it's license suspended by Mauritius
If you are currently looking for a broker and thinking to signup with FXOpen you might want to think twice as their current license just got suspended by Mauritius.
FXopen as far as i know is an Asian broker with HQ based in Mauritius.
http://www.gov.mu/portal/sites/ncb/fsc/download/Communique_25May2010_2.pdf
Wait and see!
FXopen as far as i know is an Asian broker with HQ based in Mauritius.
http://www.gov.mu/portal/sites/ncb/fsc/download/Communique_25May2010_2.pdf
Wait and see!
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