FX Rogue Wave 6.4 Trading Journal
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thread: FX Rogue Wave 6.4 Trading Journal

  1. #1
    Senior Member Pepeqf1962's Avatar
    106

    FX Rogue Wave 6.4 Trading Journal

    Welcome to FX Rogue Wave Foreign Exchange Trading methodology. A flat station, straddle type EA.

    FX Rogue Wave is a Expert Adviser or EA that I have been working on for several years.

    A few months ago, I thought I would try my hand at promoting the EA. However, have since chosen not to for a number of reasons. However, I did enjoy posting my results, so instead of attempting to sell it as well as trade with it, I'll concentrate on trading to it and posting my results . Maybe later on, I'll open this up to other people, but I find marketing for a distraction into trading. That's just me and my decision to concentrate on a single thing without distraction.

    I have a couple requests:
    1. The EA is not for sale. . .please do not ask.
    2. I do not provide trading solutions, management of other's accounts, or PAMM. . .please do not ask.

    I can share an experience that I had recently if it helps. For months I was trading profitably. I then was asked to exchange on somebody else's account for a bit of their profit. That made me over confident and my ego swelled. However, I found that when it was not my money at risk, but somebody else's, I became a nervous wreck. I wanted to succeed for both of us and was afraid of losses. I began second guessing all my transactions. And my confidence and self went into the tank. And that revealed in the equity curve on the customer account I had been trading and since they didn't observe the exact same expansion since I had before they contacted me initially, we parted ways.

    Now I am back to trading my own account and I am back to regular.

    Some people today feel that conducting a PAMM account or managing other peoples money is your way to riches. And it very well may be. But it is not for everybody. At least not for me personally.

    In other words, it has been stated many times that plogy can play a more significant role in trading than charts and indiors. That has been proven to me. Focus on what you know, adhere to your rules and since the market is not going anywhere, it will be there tomorrow. Don't be afraid to skip a session or two and have a break now and then. IMHO

    Why FX Rogue Wave?
    In Nature, Oceanic Rogue Waves are still an open water occurrence, in which winds, currents, non-linear phenomena, and other conditions cause a wave to briefly form that is far larger than the average large happening wave of the time and place.



    As Rogue Waves are unpredictable in nature, are breakouts in Forex.

    I've designed an instrument to assist in profiting from these types of breakouts and conventional trade patterns with nothing but previous price action.

    As in nature, rogue waves cannot be predicted. To the exact same extent, I make no promises that FX Rogue Wave can predict price movement.

    What it could do is display a visual point of reference to permit traders in which wave action has been previously and then exchange the current market terms in the click of a mouse.

    Nature is one of my passions and I've seen a correlation into the sea in nature and forex trading. Also, I do not think myself a professional trader. My other passion is gambling. Through time, I have been very successful and have incorporated both passions into this EA. Probability and Waves. FX Rogue Wave is a gambling algorithm and should be viewed as such.

    The only thing which can validate my concepts is trading, therefore I shall allow the statistics in back testing using actual data and live trading outcomes speak for themselves.

    Concept:
    The idea behind FX Rogue Wave is that any market cannot stay stable for long. That's something I believe we could all agree on.

    When looking at a chart, we see highs, lows, spikes, trends, and ranges. The challenge comes when choosing an entry point in all that insanity.

    The EA is a hybrid of automation based on guide initialization.

    When placed on a chart, the EA will put guide lines with entry and exit points based on x number of pips out of current price. Top of station a blue line will be created for Extended entry stage and Bottom Line of station will be Red for SHORT entry stage. Yellow lines will be created for estimated target near. These lines will move with price action until START button clicked, and then the station will lock in place for duration of trade sequence or until STOP button has been clicked.

    The trick is finding the ideal place to start the EA. Straddling recent flat periods during points of accumulation occurring concurrently at a price low or high seem to be the best times to initialize the EA using the START button.

    Employing the presumption that the market cannot stay flat for long, it would be a rare event for the market to keep inside a 30-40 pip range for a long enough period that one of the orders in chain will gradually ch the breakout and also close in profit. FX Rogue Wave does not care what way the market goes. . .as long as it goes there!

    One order will be set on chart if an entry line is crossed, LONG order for best entry point being crossed or SHORT order if lesser entry point is crossed. Stop loss will probably be just before the opposing entry stage.

    In case an order closes by hitting and reversing the stop loss, the EA will wait until there is a violation of the exact same or opposing entry point, in which a new order will be opened in a higher lot size based on order value sequence. Sequence will continue until last order in sequence closes in loss, STOP button has been clicked, or chain declines recovered in profit.



    The EA uses a martingale algorithm for recovering. As many false breakouts occur during a double top or bottom situation, if the false breakout occurs causing the first trade to fail in loss, it is recovered from the 2nd from the opposite direction. There is a limitation to the number of martingale iterations commanding risk and prevent blown accounts as trade sequences are limited to 25% risk of account. I don't have any rule that says the EA MUST run the full sequence. I may close orders manually by clicking on the STOP button to lock my profits.The most important part of the egy resides between the computer and the seat. I consider myself a gambler, not a professional trader. This was created as a gambling algorithm and the combination of EA and consumer transactions as such.

  2. #2
    Senior Member Pepeqf1962's Avatar
    106
    What I really like about the S/R indior is that it alerts you when a S/R zone has been entered. So, when an alarm is received, I just look at the chart to see when I can start the EA based on the rules above. If rules not there, then wait for second watchful.

  3. #3
    Senior Member Pepeqf1962's Avatar
    106
    Celebrating 6 month Landmark on initial test account

  4. #4
    Senior Member Pepeqf1962's Avatar
    106
    If I could prove anything by posting this, then it's the chance that the dreaded martingale could be tamed and used safely. Again, speaking as a gambler rather than as a trader.

  5. #5
    Senior Member Pepeqf1962's Avatar
    106
    Should you use a martingale on your designs and it works great for times afterward blows the account, try limiting the amount of iterations to a level the wins outweigh the losses that's the legitimate end game we're all after. If no matter how few iterations you employ, you still blow accounts, then the algorithm should be revised.

  6. #6
    Senior Member Pepeqf1962's Avatar
    106
    And if you discover that 2, 3, or 10 martingale iterations work to get a favorable equity curve, then compute that the maximum iterations you utilize only represents a small percentage of account balance. Leave room for the account to breath. Losses will occur, but they then become recoverable instead of blowing off the account.

  7. #7
    Senior Member Pepeqf1962's Avatar
    106
    Ok, so I have already been asked. If I believe in my system so much, why only start with $500. Not $10,000 or more?

    My reply to this is simple. Because $500 is a little more than the minimum needed for my algorithm to run with no more than 5-6 martingale iterations. When I showed up one day with a new forum demoning 1000% growth, it would instantly be received with doubt. So I start a TE with $500 and we see it grow over the upcoming few weeks for success or failure. For all to view from the beginning as it happens.

    If my notions are wrong, so be it. However if appropriate....

    I heard from the Commercial thread that transparency is lacking. So, I hope that this is going to be a long and fascinating thread.

  8. #8
    Senior Member Pepeqf1962's Avatar
    106
    Ready for Your week. Watching the 7 preferred pairs with chart interval covering last 8 trading days. Looking for extreme highs and lows.



    Avoiding RED news times

  9. #9
    Senior Member Pepeqf1962's Avatar
    106
    After I see that a double top or underside variant on the chart, I will zoom in and correlate the EA with the chart to see if I would like to trade this pair.

  10. #10
    Senior Member Pepeqf1962's Avatar
    106
    Based on the chart above, AUDUSD Appears to be a likely candidate provided there is not a large gap in market Available in a couple hours

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