Intensive Review Duellatorus review by Eric Alyea

[jcris522]

Chewing Nails

The play by play analysis from Johnny2pips is a good example of why we require a week long training before anyone deposits money with us. We trade very aggressively and use unusual methods of risk management. The minimum deposit is normally $20,000 which we split into four accounts. Using four different methods we trade these accounts and regularly distribute profits to keep them about even. The drawdown that we are experiencing is the gbp/chf is something that occasionally happens in that trading methodolgy. We have backtested over 10 years of data, multiple times on every pair we trade. We are far past the point of worrying or stressing about our trades because we our trades are based on things we have seen happen a thousand times over. Should the market shift and those trades start to be less profitable, we have other methods to utilize. Keep in mind that the market does out of the ordinary things during holidays when everyone is on vacation. Stay Tuned . . . . .

 

[Johnny2pips]

13,730 views on this thread. Now how good is that.
Yes, I have not done a course with them as I don't have time and they have kindly offered to trade my account for 6 months max. Thanks Josh and Corbin. Can't remember now how I got in, but I might have begged.
I have been following their trades so far and think I now know this one of four systems by now.
The GBP/CHF seems to have turned in our favor for now. Might take a while but Dec month is difficult as we know.
Although I only have $5K with them that I am prepared to loose and will be ok with it as fx is the most risky investment. I nearly lost $10K in in my own account as I can only trade at night. DD is 67% at this stage. I was emulating their trades and was up good until the GBP/CHF trade and Josh rapped me on my knuckles for this.
I did not know that the leverage was higher and took the same lots. Live and learn. No more trading for me for a while.

 

[Eric Alyea]

I"m Back

EURUSD
I don’t believe it all my trades cleared.

I was goofing around with a different platform. “DEMO”. Started Sunday, I hate Sunday trading, but I felt like it. I could have cleared a profit then (for $1200 then, took $320 to be out Tues) I played the, “OH It will get better” mind game on myself. They just now Tuesday “take profit” cleared.
Tuesday 1-4-11
I came back from a legal meeting and the library @ 11:23 per trade history, and saw all but 2 trade’s in profit. I hit the buttons as fast as I could. Took me a minute some were @ 11:24.
Started at $50,000 @ Sunday 1-2-11 (more on that this weekend, {it is false security and good for fun and games only})

$69,163.43 Tuesday 1-4-11
$50,000.00 Sunday 1-2-11
$19,163.43

I put a shorter range “take profit” just to get out of those because I had been stuck in “Sell” mode. They cleared.
Could have made more, but free and clear of trades is better than “If-n–I-da-done that, BS” and waiting to heal hesitation rather than taking profit when it's there.

I have a new screen grab program so I can show what I see on the chart's, but I need to practice editing all the pic’s I took.

Waiting on a bet is fine, “Taking the money” is better. The number of times I think... “Hmm I can make more” I always get stuck. This is where the “Zen Practice Game” is so important. Take the money, “Take the money, Take the money, Take the money” It’s just one pip, but it is “PROFIT. Do you pic up the penny off the road for good luck or not. Take the profit.
I will do a weekly report like I used to do. But this is a good “Re-Start”

So much for my graphics uploading skills, wrong one, don't know how to change it?

https://www.forexpeacearmy.com/fore...mp/13175-beginner-forex-trader.html#post53762

 

[Eric Alyea]

I love the crosshairs

Doing another experiment today. I love the crosshairs:cute:. So what I did was hit a few bids for “Buy” and want to set a TP (take profit line). I also like flipping through the different time charts. Here is the game, draw a line for TP on each time chart. This is what I've got, for what I am doing:
EURUSD (take profit, TP lines)
H1 1.32198
M30 1.32670
M15 1.32625
M5 1.32353
M1 1.31627
6.61473 divided by 5
1.32294 I set that as TP (take profit)
We will see what happens?
I'll wait this one out.

The rule is: “Draw a line, then go conservative to WIN”. This one, I’m just doing the numbers.

{I would have gotten out on 1.31872 @ 12:55, if it wasn’t an experiment }

 

[Johnny2pips]

Hey Eric,
Let me try and phrase this in your terminology.
Do you think that if you use live ammo, you will get the same results?
At this stage, you are using blanks and shooting at people. If you use live ammo, could you still pull the trigger at the same time knowing that they might shoot back at you if you miss?

 

[Johnny2pips]

Forgot to add Forex trading expert- Duellatorus team online forex trading, trading forex, forex brokers, capital forex, forex tools, techniques, easy forex, forex trading signal, forex trading company, forex service company managed results for this week.
Although frustrating, the GBP/CHF is now going our way at last and should make profit today or Monday. I am sure that when this is out the way, Josh and Corbin can get back to their serious stuff.
As to my copy trade where I was down 67% or $6.7K on my $10K and nearing margin call on my other live account that I trade myself. Well it has reversed to -$800 in two days. I was not aware that the leverage is substantially different with their broker and mine.
Sorry Josh and Corbin. You have already moaned at me for this but I am in and must ride it out.
When my trade gets to their profit, I should have made about 40% profit on a single trade.
Will keep you posted.

 

[Eric Alyea]

never trust the dead

1 wk Jan '11,

Getting back into practice, hit some wrong button's last week and didn’t check my unit size a couple of times. It re-taught me the lesson of verifying everything before hitting the button.
These practice accounts are fun/frustrating. Getting everything set up so you KNOW what your doing and confident takes time.

Some things I liked on other platforms weren’t there on the new one's, or I didn’t know how to find/use them. One of my pet peeves is, you do something on a platform and then are “STUCK” with it, and don’t know how to make it “go away”.
I’m giving myself two weeks. Then I am going to purposely lose to bring the money value down in my demo account to the size of my real account. The $50,000 or so in demo’s are a false security and it saves you from the real “MARGIN CALL” REALITY. (Check your margin, Check your margin, Check your margin). Your account is the amount of amunnition you take on patrol. Protect what you use, make each "unit" count, if you run out... YOU ARE DEAD (money in that account lost.... next patrol.. do better). You are the "General" of your finances. As such, you have to know how to manage causalities (possible account losses). Loss is a part of reality in both theater’s.
What is a worth while patrol (picking a Pair) to achieve your goals, and come back a winner. We are Global now. Going in and out of countries happens all the time. As Forex traders, that is what we are doing. Picking a country pair and going on a mission of profit.
To answer the question in so called “my terms”. Your account is like going out on “Patrol”. You only carry enough food and ammunition for the purpose. I have certain “Character flaws: #1 No one has been able to successfully kill me. #2 I speak the truth at inappropriate moments, etc. (you want the list give me a PM). I am not a thief or a body part trophy taker, but I never knew anyone that I had a confrontation with that needed their ammunition any longer, so I took it and the weapon (“Never trust the dead, ALWAYS break the pumpkin”). I like the real bullets, but am to old for that now. That is why I am trying to master a desk. I was told once, “If you old and doing anything but sitting in a chair, you screwed up some where” (that doesn’t mean you aren’t active... It is just a saying).
For the record I count “every time” the number of ratchet movement turns for each bolt, nut or screw, I take in or out of place (most are 27-40 1/4 ratchet turns). I used to count, and can tell you the type, caliber and shots fired from any location. I like numbers.
Look at it this way.. You have bankers fighting for money, (yes, you can join in). The ups and downs of retracement are the pauses of the reload to fire on a battle field.
I was a “Sniper” it takes a 2 day briefing and research to ?Think? You understand the target, 3-5 days to get in to position, “just the right time on the trigger” and (this is where they start hunting/shooting at you), maybe 5 days to lay low and get out. Do the math 2+5+5 = 12 days. Sounds like a Forex trade to me??
What is the difference between that and a FOREX trade? (Is that you answer Johnny)
Yes, Demo’s are misleading. Yes, I get LIVE ammo this month (had to wait for the turn of the year for accounting reasons, ask why in a PM)

Then two more week's at that reduced account level before live trading. I still plan on using the demo account to warm up and test the market action before hitting a live account button.

Most times I don’t like starting to early on Sunday. Those have been the time I have been caught waiting for a reversal (days to weeks rather than what I like the open/close the same day stuff.

This is just practice and I made a lot of mistakes getting back into things.
That is the benefit of the “Zen Trading” practice. Hitting the buttons to take profit when it is there. Yes, You can have a bigger profit later, by waiting (Maybe yes/Maybe NO, more times NO)
Right now I am stuck in buy mode, waiting a reversal. "NO Worries Mate", if it doesn't happen then I will intentionally close them at a loss to bring the Demo account balance down to the amount in a live account as stated before.

 

[Eric Alyea]

“Dog and Pony Show”

Dog and Pony Show’s

Hey Eric,
Let me try and phrase this in your terminology.
Do you think that if you use live ammo, you will get the same results?
At this stage, you are using blanks and shooting at people. If you use live ammo, could you still pull the trigger at the same time knowing that they might shoot back at you if you miss?

Practice is practice, necessary and useful, a learning tool. When doing things for show, a “Dog and Pony Show” (for General’s and Dignitaries) you have every thing you need, to make it “Look Good” and easy. (you are financed)
To answer the question: Yes, I will come out a winner. No, I won’t make as many trade’s “Live”, but I will still make as many or more trades “Demo” to know when to change (complete different computer) to hit the “Live” trade’s.
I have only known/witnessed only 3 people/humans that could/?knew? how to walk between “real” bullets, every time. I could only do it a third of the time. Yes, I had to take and practice "taking cover" (stop loss management) bleeding is bleeding, blood or bank account.
Hope this sheds light on your question, and for anyone else, please ask. I will try to answer, I am learning Forex also and questions help me learn.

 

[ecafyelims]

Eric,

How do you decide to go live?

Do you have qualifications or any written criteria?

 

[Johnny2pips]

The GBP/CHF trade is shooting up. I got out too early. Made $430 profit but if I had stayed in for another 30 minutes, I would have made about $900. My lot size and leverage was far too big. Seems like Josh and Corbin know what they are doing.
And Eric, aim a bit higher. Or are you a "Rear Gunner"