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Freedom Rocks: Forex Hedging (Part 2)

buddy · 295 · 49717

buddy

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Discussion continued from previous thread. -Mod.


Quote from: Mike QC
Hi buddy, this is not how the Freedom Rocks system works.  I suggest you try the software yourself.   You sounded more like on the traditional approach.


Like you, I was so anxious to go live and earn money big time from FR system. Good news is, I did!
Yes, I tried it for 6 months Live. I am not sure if they change the Portfolio Allocator now. I was in FXSol before because
FR recommended them and they had a great and high swap(well not now). Sure, they call the sell market order as a limit but it will confuse other traders if you talk to them like that when you are referring to a different thing.


Quote from: Mike QC
Btw, I finally graduated last week so now I know the big difference of traditional forex trading and the FR/FFS system. It's also great and I'm really proud to learn the traditional approach with all those very effective strategies & indicators...breakout, rangebound, fibonacci, MVA, stochastic, bolinger bands, RSI, Parabolic SAR, and so many many more to mention.  But this doesn't mean that I'll be stuck in either FR/FFS or traditional approach. Of course I'll always go for where I'll be laughing all the way to the bank.  peace


FR system in general is the same as any other system, whether it is scalping, breakout, sidus, bagovino, daily range,
pip boxer, fibonacci, vegas, Pivot here and Pivot there, etc. All of them will buy low or sell high but the question is,
when is the right timing, I dont know either. So if you dont know that, you have to incorporate money management and that really matters bigtime. Good thing FR has a good MM out of the box so newbie will not be expose to high risk and lose it all.

After creating and studying many systems, I create something that go along with my personal way of trading.

When I was starting from forex traiding, I thought about this great idea about buying and selling at the daily timeframe.
It worked for almost 2 months consistently and boom the next month I lost almost everything in one hit.
Well, it was a demo account so no harm done. The strategy goes something like this, try to look at the daily
timeframe, what do you notice? Most of the bar have a shadow below or above at a close time for the daily candle.
I aim for 4 pips only above or below of the body and it made money consistently in 2 months.
There is one problem, I know you know it by now and I wont elaborate.  So there's about it.  See ya and go for pips!

« Last Edit: Feb 02, 2007, 02:49 PM by nailbiter »


sam_1_els

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Quote from buddy post:
Sure, they call the sell market order as a limit but it will confuse other traders if you talk to them like that when you are referring to a different thing.
----------------------------------------------------------

Hi buddy, Welcome to PMT.

When you say/saw "market order" that means instant execution at the current price.

In forex trading there are only 2 types of pending orders which are buy/sell limit and buy/sell stop. The last time I check the FR site, I didn't saw any market orders except in the porfolio allocator, but it's not sell but a buy market order.

In Porfolio Allocator. there's only buy/long market order.
In Porfolio Manager. there's only buy/sell limits order.

I must have missed something.

----------------------------------------------------------
Another quote from bubby's post: (gee... ba't di kaya gumagana yung quote button ngayon?

After creating and studying many systems, I create something that go along with my personal way of trading.
----------------------------------------------------------

Glad to hear that buddy, hope we can exchange more ideas...

I agree with you, FR is same as any other system out there, I will consider it as traditional way of trading, the only difference is you will use a software to guide you. I can sleep more soundly at night using it, knowing I won't get any margin call the next morning.

and seems you're also a forexfactory site member. Those advance system you've mention do works, but most of them will let you enter late.

Just curious, why just aim 4 pips a day when a market price can range 100 or more pips a day? Don't you think its a waste of time? (I know... to each his own, there's a lot of ways to skinned a cat :hihi:). Since you're also a forexfactory member, why not check the "sexy stoch" thread there for scalping? or just use the KISS (Keep It Short and Simple) approach by using only thrend lines, fibo and price action. So you can gain more than 4 pips a day.





« Last Edit: Feb 02, 2007, 06:09 AM by sam_1_els »


gr8collector

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hi Mike,
I just had funds reach my account at IBFX and will most probably enter the trades on Monday.   Ill be trading the 3 majors at 10% margin.  
Keep in touch and let us know how your FR account is coming along.


buddy

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Sorry if it is confusing because I don't know how they do it now with the new brokers.
Ok, As I remember, you put 1 buylimit and 1 instant sell or close order(not sell limit bec this will create a pending order when hit) above the market price. When the market goes up it will sell some of your units from your active lots. So yes, my bad, it was not a market order but an instant sell or close of your position type. I am not sure how you do it now in mt4, seems like
you use a closeby or something. In FXSol you can create that close order or limit as they call it by selecting the active order
then sell or close some units when hit by a specific price. I handle that close some units differently by creating an EA and closing some portion of the lots by OrderClose function.

No, I dont trade that 4 pips in live trading. It just came to my mind when I was starting up learning forex and started
demoing hit for two months.

Yeah, FF is a good source of new info and there are a lot of good systems there. But I'm not comfortable using any
system or strategy without doing any in depth research with it. Anybody can create any system but most of them
will only work in trending or ranging conditions. You have to analyze what really is going on, why the market is behaving
that way. Anyone can say, put SMA 10 low, EMA 150, RSI period 14 on a 15 min timeframe and go long when SMA 10 crossing 150 from below and RSI is above 50, and go short for the opposite. Well, been there done that.

I want a system that is unique that I understand which is consistent and effective that will work in ranging and
trending market.

FR is good if you want something that will work out of the box. I just can't handle the drawdown because sometimes
it takes months to level out.


By the way Mike, Did you guys get the compounding for riskfreeprofit?



Quote from buddy post:
Sure, they call the sell market order as a limit but it will confuse other traders if you talk to them like that when you are referring to a different thing.
----------------------------------------------------------

Hi buddy, Welcome to PMT.

When you say/saw "market order" that means instant execution at the current price.

In forex trading there are only 2 types of pending orders which are buy/sell limit and buy/sell stop. The last time I check the FR site, I didn't saw any market orders except in the porfolio allocator, but it's not sell but a buy market order.

In Porfolio Allocator. there's only buy/long market order.
In Porfolio Manager. there's only buy/sell limits order.

I must have missed something.

----------------------------------------------------------
Another quote from bubby's post: (gee... ba't di kaya gumagana yung quote button ngayon?

After creating and studying many systems, I create something that go along with my personal way of trading.
----------------------------------------------------------

Glad to hear that buddy, hope we can exchange more ideas...

I agree with you, FR is same as any other system out there, I will consider it as traditional way of trading, the only difference is you will use a software to guide you. I can sleep more soundly at night using it, knowing I won't get any margin call the next morning.

and seems you're also a forexfactory site member. Those advance system you've mention do works, but most of them will let you enter late.

Just curious, why just aim 4 pips a day when a market price can range 100 or more pips a day? Don't you think its a waste of time? (I know... to each his own, there's a lot of ways to skinned a cat :hihi:). Since you're also a forexfactory member, why not check the "sexy stoch" thread there for scalping? or just use the KISS (Keep It Short and Simple) approach by using only thrend lines, fibo and price action. So you can gain more than 4 pips a day.
« Last Edit: Feb 02, 2007, 12:00 PM by nailbiter »


Ping

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hi Mike,
I just had funds reach my account at IBFX and will most probably enter the trades on Monday.   Ill be trading the 3 majors at 10% margin.  
Keep in touch and let us know how your FR account is coming along.




Good luck, gr8collector!

You are not using FR?


gr8collector

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buddy

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^Goodluck buddy.
Follow it to the T and don't use more than 20% of your Equity.
We look forward to your many earnings and pips!
« Last Edit: Feb 02, 2007, 12:01 PM by nailbiter »


sam_1_els

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Ok, As I remember, you put 1 buylimit and 1 instant sell or close order(not sell limit bec this will create a pending order when hit) above the market price. When the market goes up it will sell some of your units from your active lots. So yes, my bad, it was not a market order but an instant sell or close of your position type. I am not sure how you do it now in mt4, seems like
you use a closeby or something. In FXSol you can create that close order or limit as they call it by selecting the active order
then sell or close some units when hit by a specific price.


That's not how the FR system works. I'm not sure if we're referring the same FR, or they did changed their system.

Actually its easy to follow the steps:
On the Porfolio Allocator, you place buy/long market order (instant execution) in all currency pairs you want to hedge. 2,3 or 4 major currency pairs. TAKE NOTE: NO SELL

Then on the Porfolio Manager, the software will tell you at what price to set those buy and sell limits. TAKE NOTE AGAIN: only buy/sell limits, no buy/sell stops.

If a limit order triggered and turns positive, close that position and go back to your porfolio manager, recalculate the next buy/sell order of the currency pair you have closed.
If it didn't turned positive, just live it there and wait.

Now, the last stage, If you saw your overall unrealize balance turns positive, close all those active/opened positions at the same time. Delete all pending positions that have not executed.
 


buddy

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Yeah it's the same system. I did not elaborate that much with the Portfolio Allocator and Portfolio Manager.

The bottom line is this, you create a buylimit and a sell or close price order for each currency. If you have two pairs for example eurusd and usdchf, you will create 1 buylimit and a closeby(limit as they call it in FXSOL) order for eurusd based on how many units Portfolio Manager gave you. It's like a breakout system, you put 1 closeby order above and 1 buylimit below the Market price. The Portfolio Manager will tell you the price & units you need to set your trigger above and below the current market price. You do the same for usdchf actually and will
reset only a pair that has been hit.

If you have 3 currencies then you will have a total of 6 orders 3 buylimit and 3 close orders.
Same follows for 4 currencies.

Well, it could be different because they are using MT4 platform now and they dont have a
close or automatic sell in MT4 like what we see in an FXSOL. The nice thing about
FXSOL is the sell or limit is run on the server and you just wait for an email or text
when one is hit.

For Visuals:

Close some of the active units (Portfolio Manager says close 3 units only)
^
|
Market Price
|
BuyLimit (Portfolio Manager says execute a buy order when hit)


I hope we are on the same page.
Is it really different now or I just have a bad memory?
« Last Edit: Feb 02, 2007, 02:44 PM by nailbiter »


lehboy

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Hi buddy, more or less it's the same, siguro iba lang pagkaintindi natin. Thanks for sharing your experience with FR. Malaking tulong rin yung sinabi mo for us who want to enter this thing. Anyway, if it's ok, I'd like to ask more questions:

What pairs did you trade? How high was your leverage? What margin did you use? For the 6 months that you traded, how much was your total profit from the interest alone? (I guess this is the primary method for earning long term with FR - carry trading)

Pansin ko lang the drawdown could really last for months. That's how the markets behave, minsan talaga drawdown, unless we can time our entries.


Guys, btw, someone in FFS also created some indicators on when to time the 'entries', di ko lang maintindihan. Sam_1_els, maybe you could help, I'll share the custom indicators with you guys...


Ping

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hi Mike,
I just had funds reach my account at IBFX and will most probably enter the trades on Monday.   Ill be trading the 3 majors at 10% margin.  
Keep in touch and let us know how your FR account is coming along.


Mind if I ask, when did you send the funds?  Via wire transfer ba? How long (hours) did it take for IBFX to acknowledged the receipt of your funds?

UPDATE: Mine got credited in less than 15 hours, fyi.


If you are not using FR yet, are you planning to use traditional trading?




Quote from: MikeQC

I'm starting conservative with only 10% margin, 3 pairs (eur/usd, gbp/usd & usd/chf), 400:1.  Amount: $5,000 and I'll make it $10,000 on March 1st.


Wow, that's quite a lot to achieve in 1 month!?  Good luck!  I hope I can do that too...  :yehey:


Quote from: buddy

FR is good if you want something that will work out of the box. I just can't handle the drawdown because sometimes
it takes months to level out.


Hi, from your posts, I understand you came out a winner after 6 months of using FR.  Mind if I ask how much, in percentage was the return?  How long was the drawdown you mentioned here, as in how many months?



UPDATE:

Wish me luck, I'll go live today!



« Last Edit: Feb 03, 2007, 07:08 AM by Ping »


buddy

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What pairs did you trade?
eur/usd, gbp/usd, usd/chf => as recommended by FR at that time

How high was your leverage?
1:400

What margin did you use?
15% of $5000

Swap Profit?
$3000 in 6 months => It helps a lot when you have a big drawdown

Biggest Drawdown?
$7800 when I reached $10,000 balance

Your Broker?
FXSOL


Hi buddy, more or less it's the same, siguro iba lang pagkaintindi natin. Thanks for sharing your experience with FR. Malaking tulong rin yung sinabi mo for us who want to enter this thing. Anyway, if it's ok, I'd like to ask more questions:

What pairs did you trade? How high was your leverage? What margin did you use? For the 6 months that you traded, how much was your total profit from the interest alone? (I guess this is the primary method for earning long term with FR - carry trading)

Pansin ko lang the drawdown could really last for months. That's how the markets behave, minsan talaga drawdown, unless we can time our entries.


Guys, btw, someone in FFS also created some indicators on when to time the 'entries', di ko lang maintindihan. Sam_1_els, maybe you could help, I'll share the custom indicators with you guys...


buddy

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Yes, I turned $5000 to $12000 in 6 months, 6 1/2 months to be specific. Probably I was lucky.
I reset everything as soon as my Accont Equity becomes more than $1000.
Biggest drawdown happens twice or thrice a month. I cant remember how long exactly but it's like a
roller coaster ride. Sometimes you're up, sometimes you're down.


Hi, from your posts, I understand you came out a winner after 6 months of using FR.  Mind if I ask how much, in percentage was the return?  How long was the drawdown you mentioned here, as in how many months?


lehboy

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Thanks for the answers buddy. Hopefully the system is better this time, though I feel that we have to be conservative to survive these huge drawdowns


Ping

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Yes, I turned $5000 to $12000 in 6 months, 6 1/2 months to be specific. Probably I was lucky.
I reset everything as soon as my Accont Equity becomes more than $1000.
Biggest drawdown happens twice or thrice a month. I cant remember how long exactly but it's like a
roller coaster ride. Sometimes you're up, sometimes you're down.




That's great, more than 20% a month!  

Your profit target per session is set at $1000?  That's 20% of your initial investment.  I thought that's hard to achieve, that's why I am targetting about 3-5% per session only.  But if ibfx rocks can get their target trail to work...
 


 


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