Duellatorus review by Eric Alyea

Eric Alyea

Master Sergeant
Reality check

Reality check:nerd::mad::confused:

OK, let’s stop and do a reality check here.
First of all, Thank you, "RahmanSL" for taking interest and getting down to numbers. I love numbers.
Second, “Zen Trading” and my weekly notes on it is a “DEMO TRADE”. No way am I capable of doing that with real money “yet”(give me another year or less).
I have to see if I can patch together the quote’s/notes from previous post’s to make some sense of things. I have failed at that in the past and I am improving, hopefully.
For right now I know how to copy and paste (permalink) {I will get with Pharaoh and the Ass. Mod. to educate my self on better posting this week}
I am a Data Collector/Recon/Researcher I find my own and others weaknesses, don’t get in my cross hairs, Nuff Said.
{this is were it get's weird I have to look at and edit what comes up. The current....."What I really wanted to say... “ has changed. Ever said the wrong word to a woman and it took 3 days to edit and prove the reality of what you really meant but were not the lawyer to know how to????
(things below this will be edited and the time/date will be put here:
posted @ : 12:11 3-7-10
last edited @ :23:30 3-7-10

Eric, I am following your journal with fascination..and your logic for NOT setting SL, and using margin call in place, makes perfect sense to me. Good work!

“11:04 all my trades are closed, stopping at Balance $108,020.89
This was from your starting account of usd100,372.87; right?
From memory the starting balance on my Oanda demo account that I use for “Zen Trading” was $100,007.61. But, for the proveable EUR/USD $100,361.03 @ February 19 10:00:16 2010 EST.

As I posted in another tread, I have started my “trading strategy” Demo account, basing my “buy” and “sell’ on I, 5, 15, 30 minutes charts.
I have lost money on 3 positions mainly due to pushing the wrong button. Instead of “Buy”, I entered “Sell”.
On two positions I wanted to open, I pointed the cursor in the “Close” trade…twice…and ended unintentionally closing two opened positions with usd136.03 & 145.14 loss each. This taught me never to “pop-up” a window from already opened positions as this type of mistakes can and do happen.
I do not set “Stop loss” anymore as I have read, and concur, your comments and from elsewhere the logic of being “closed out” with just a couple pips from market reversal due to preset SL. But I make sure there is plenty of “Free margin” to prevent “forced closure” of positions due to insufficient funds.

Here is a “funny” incident in my trade recently.
As I mentioned above, I opened two positions by mistake (i.e. I meant to open with “Buy” but entered “Sell”).
For the better part of the week, I was debating whether to close both positions as I was over usd2k in losses in these 2 positions. But I did not close them because I had plenty of “Free margin” and I thought I would ride the losses until Friday 5-Mar-2010 and then close them before the market ends, hoping by that time my losses would be reduced due to market reversal.
As you can see, the market did reverse and I quickly closed one position with a usd36.02 loss, but couldn’t get myself to close out that larger loss just yet. However, when I finally decided to take my loss to close out that position, I was largely surprised that instead of a loss, that position showed a usd598.43 profit. Needless to say, I immediately closed it.

Fat fingering (buying a roll ball add on for a laptop rather than then using push/sense pad will save money by eliminating mistakes) is one of the reasons for the “Zen Trading” exercise. Finding out how you “fat finger” and hit the wrong, Buy/Sell isw a check list documentation problem, and the real practice of trading. “Pulling the Trigger” right time, right place, no mistake’s. This is the crux of why most beginning traders fail, no or incorrect practice which equates to improper entry and the giving up.
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Duellatorus Representative
Statements Are Here

Here are our live trading statements as promised. This is an account with REAL money that Corbin and I manage for a client. We split the account in half as per our money management principles, the same ones we teach in our courses. I have not been able to focus on my part of the account until this week so my account is only up ten percent and that pales in comparison to what Corbin did. I will be posting both of our statements next month, however. I will continue to post statements each month so you can see the progress. One question to ask anybody who has done an educational program or mentorship is are they trading with real money and if not why. After our training session you are ready to trade or at least know what you need to do to start trading real money, how fast you get there is up to you. Some people start trading the same week we train, others a month or 2 later. Of course there is nothing wrong with taking your time and making sure your understanding is complete as Eric is doing. I have no doubt that with his diligence and thoroughness he will be an insane trader when he is ready.View attachment scan0001.pdf

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Eric Alyea

Master Sergeant
Special “Zen Trading” Post

Special “Zen Trading” Post

I punched the buttons today. It was “Zen Trading”:
Practice for opening and closing trades and getting in and out with out “Losing”
I have to practice posting my trade logs, so, this is the 1st one that I didn’t have someone else do. (Well posting anyway, had help on data transfer for format, ty Josh).
I’m not posting 3-9-10 till Saturday cause that will freak everybody out. It did me.
The back link is:

Wed. 3-9-10

It was a roller coaster to day and I worked it. Earned every bit of it.
It worked me hard. I cleared my trade sequences 3 times then was worn out.
279 pips. Rough count 144 trades. Now that I have a print out I will get a good count. Like I said: It wore me out.
I left one for my I worked it up to fall, (it will get you in trouble) fun top one and it took 53.9 pips (bad Eric, against the rules)

$119,584.71 @ 11:17 CST 3-9-10 all trades clear
$118,190.24 @ 06:37 CST 3-9-10
$1,394.47 279 pips

View attachment Eric031010.pdf

:eek:oh: I think it worked.

Had a webinar with Josh and Corbin last night. We went over what to do on margin% under 200% emergency procedures. Had one at 48.64% while back testing Sept.19 2003. Talk about having to clean your pants out.
Will talk about that when I have the "Back test" article done.
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Eric Alyea

Master Sergeant
Daily Zen Trading Log: 3-7 to 3-13-10

Daily Zen Trading Log: 3-7 to 3-13-10

Week total’s
$121,906.48 @ 11:48 CST 3-12-10
$111,915.40 @ 10:29 CST 3-8-10
$9,991.08 pips 19,982

Monday 3-8-10@ 00:09
EUR/USD went up from my the bids I was stuck with on Friday.
Well since I am stuck in sell mode from orders left open last Friday.
This “Zen Trading” is suppose to be about working the “ Flow”, either direction. Getting your procedures down so you don’t make mistakes. Felling when the retrace (things start going back ing the other direction) having the patients and timing to work with the flow.
What I’m trying to say today is, I had trades left open from Friday, let them sit concentrate on today.

OK lets play. Catch the spikes at the top and close for the pip at the bottom. Have a pre-loaded (units typed in) “Market Order” window loaded. Close out un-necessary web/window’s so you can manage and see what is open and not be distracted.
At this time things are bouncing the 1.36200 median range. Today I’m looking at hitting the top of the spike with a sell order and cashing the pip as it falls.
Learning what buttons to hit, drag side bars to see the last trades in the window.
Check your margin. Check your margin. Check your margin. Don’t go wild hitting button’s without “Checking your margin”.

$112,335.59 @ 12:00 3-8-10
$111,915.40 @ 10:29 3-8-10
$420.19 84 pips

I think what I want to say today is I had trades left open from Friday, let them sit, concentrate on today. I still have trades open and still made 84 pips just working the flow. That is what this is suppose to do.
“Make whatever is happening work.”

Tues. 3-9-10
Just closed all my old open orders. They started at 19 pips and went to 55 top one was 108.9.
$117,767.24 @ 10:07 3-8-10
$112,304.35 @ 10:02 3-8-10

$118,161.79 @ 11:25 3-8-10
$117,767.24 @ 10:07 3-8-10 going with today
$394.55 1:18 min
That wore me out. :47 minutes of fast action all my orders are closed out. I feel like quitting a winner,
all trades from Friday, Monday, and today closed, $5,857.44.

Wed. 3-9-10
It was a roller coaster to day and I worked it. Earned every bit of it.
It worked me hard. I cleared my trade sequences 3 times then was worn out.
279 pips. Rough count 144 trades
I left one for my fun top one and it took 53.9 pips
$119,584.71 @ 11:17 CST 3-9-10 (all orders clear)
$118,190.24 @ 06:37 CST 3-9-10
$1,394.47 pips 279

Thurs. 3-11-10
Getting my procedures down. I had to close all my web windows and reopen the Oanda site to trade. I have gotten so I don’t like the word processor window on the right of the bottom,,, “Windows open bar”. Managing “Market Order” and “Ticket #” windows is one of the first jobs to get used to, closing the ones you don’t need open. Clearing out the one’s your afraid you’ll hit the wrong button on. Especially being careful of “Ticket #” windows so you don’t “Submit” the order accidentally. Just keeping track of what button’s you hit when it get’s going fast.
Enough writing time to trade.

$120,853.83 @ 11:54 CST 3-11-10 (10 orders open)
$119,585.20 @ 09:05 CST 3-11-10
$1268.63 pips 253

Fri. 3-12-10
Things are up today. I still have “Sells” open from yesterday so, I have to stay with that.
It’s 11:40 CST today is Friday and the market closes for the week end. I got stuck with more trades (and I had to go back and close some that just hit then) You have to draw the line when to stop. There was one hanging at 0.0 I closed it. That was a 1st for me.

$121,906.48 @ 11:48 CST 3-12-10 (18 trades open, a top @ 1.37716)
$120,849.70 @ 09:31 CST 3-12-10
$1,056.78 pips 211

Remember this is a training exercise for getting your procedures down. I was a “Professional Long Range Rifle Shooter”, the goal was to “deliver long range precision fire on predetermined targets”. Pulling the trigger was just part of it. Getting in to a good position and setting up to get that shot was the real work.
Good luck to every one
Remember, getting a percentage of “Zero” (not placing a trade & not getting a pip) is “$0". Learn to make a successful open and close of an order with a profit every time is what this is about.:)
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Eric Alyea

Master Sergeant
a pip is a pip a squirrel is a squirrel, shoot ‘em

Daily Zen Trading Log March start 3-15 to 3-19-10

Better than “FarmVille” or “Farm Town”

Let me say again this is button pushing practice. It makes you learn/understand yourself, and have to wonder??? What did I learn about ME, REALITY, and if it was real MONEY.
In the house I own free and clear, the people (Renters, Wife, and Guest visitors) hear, “Oh I missed that one,... I need a thumb roller ball mouse,... I wouldn’t make these mistakes IF,... I should have followed the rules,... I’m stuck going the wrong way,... Stay away from the margin, stay away from the margin, Oh, sh*t under 200% margin, EMERGENCY”

Week total’s
$127,663.64 @ 12:11 CST 3-18-10 (open trades)
$121,801.43 @ 00:09 CST 3-15-10
$5,862.21 pips 1172

Monday 3-12-10 @ 00:09
I waited to midnight to close trades out that were open from Friday. I wanted to close them earlier. I had a sloppy trigger finger today, @ 10:18 all trades closed. Glade to get out.
Here the question is:
If had waited, I would have made more money on all the retrace movement.
That is BS and the reason for doing this. Timing, Placing, Collecting. Removing the fear of, anticipation, and anxiety. Just get your money. (Yes, the government and others get theirs. Just give it to them).
I have a legal paper to write today just getting out of trades is good enough!
You have to understand Monday retracement!?!? EUR/USD
$123,937.15 @ 10:18 CST 3-15-10 (all trades closed)
$121,801.43 @ 00:09 CST 3-15-10
$2,135.72 pips 427

Tues. 3-16-10
I have to take a legal break to beat up on a lawyer in Dallas
$125,098.76 @ 13:55 CST 3-16-10 (all closed)
$123,937.65 @ 03:27 CST 3-16-10
$1,611.11 pips 232

Weds. 3-17-10
I had to do Legal work, recycling, and take out the trash so didn’t have much time to work it today. It was good that I had other things to do, the in's and out of getting away from the screen are good. 302 pips in 2 hours.
$126,609.03 @ 10:12 CST 3-17-10 (all closed)
$125,099.27 @ 08:18 CST 3-17-10
$1,509.79 1:54 pips 302

Thurs. 3-18-10
I knew it was going go down today but, it’s Thursday and the training rule is, “do the opposite of what your gut say’s” for the sake of knowing how to get OUT”.
So, this is the drill. I go “Buy” and time hitting at the bottom of then candle bounce. If it keep’s going down you practice hitting the bottom of the candle.
This is why you use a “Demo” so you can get your timing down. Leave them open for a week, it will retrace. When I do this I have gotten so I leave the most extreme low/high order as a “pet/play thing” to close last after the retracement order is closed (It will retrace {just give it time}).
Everything else goes by the 1 pip rule. Learn to recover your margin.
Once your stuck in a Buy/Sell mode, you can hit orders on the retrace. This is what you were suppose to be doing the first time. Knowing the direction and hitting orders, and cashing in.
You learn to get mad at your self and get over it. This practice get’s you used to: “Taking the shot” and “cashing out”.
2 pip spread- fat finger and hang
a pip is a pip a squirrel is a squirrel, shoot ‘em
scoring the pet pip
It’s practice, don’t second guess it, just play.
Get you use to the concept of counter pivot point trading.
If it swings back down, hit another order at the bottom.
If you ever have to many windows open close them off the bottom window bar, NOT within the window itself, this practice will prevent fat finger mistakes in the future.

$127,663.64 @ 12:11 CST 3-18-10 (open trades)
$126,635.53 @ 09:03 CST 3-18-10
$1,028.11 pips 205

Fri. 3-19-10
Had to do legal work and filing/posting today, just done now @ 16:12 CST
I am worn out legally, don’t look at me wrong eye to eye, or I will touch you. (People alive in the world KNOW what that means)

Good luck to all
edited later (3-19 -10 15:58 CST)
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Eric Alyea

Master Sergeant
Forex Tester 2 & Back Testing

This hopefully, is a consolidation of previous posts, with better editing and meaning.
I wanted this separate from “Duellatorus”. It is a worthwhile “tool” for an ends to a means for them.

1-9-10 - 02-09-2010, 07:10 PM
I am re-investigating:
Forex Tester Software - Professional Forex Training. Teach yourself forex trading.
I got mine on a pre-Christmas discount, they are normally $150. One computer per license.
They were not of a help to me solving initial problems and were indignant about service. Despite that, after having someone that knew all the problems about it personally teach me how to use it. It can and is a valuable tool. If the Tech. writers would work on a good “how to use training manual it would be a tremendous improvement. If You want to learn how to get around the problems they are unclear about or their method of instruction doesn’t get through to you they have a forum, more about that below. This is an initial post and for “FPA” members, I will do other posts on how to use it and get over its flaws. It is still good program once you know how to use it go for broke, learn, and test your currency pair’s.

Forex Tester 2 - 02-21-2010, 07:49 PM

Early on Forex Tester 2 (FT2) was said to be needed in Duellatorus’s procedural methodology. I had some minor problems in my initial use of the Forex Tester 2 (FT2) program. The tutorials were lacking the detail needed for a novice to become functionally independent. Searching the questions I had on the member’s forum was what got me over the initial hump. (What do you expect from programers though, a good program AND a tutorial. I would rather have a good program and find a better teacher.) That not withstanding, this is a professional product sold and distributed world wide. If they really want to sell it then the people that use it and like in on their forum should have been enough for them to fix it. NOPE NOT YET. For product creation 4 stars. For product support 2 stars. That means and average of 3 stars. If you have some one to tell you “Personally” the glitches in the program, 5 stars. How’s that for reality?

The reason given for the use of Forex Tester 2 (FT2) was:
#1. Back testing is the key to understanding your chosen currency pair and it’s price action tendencies (flow).
#2. People are so afraid of losing money in stead of just accepting in the beginning that at some time losing money “WILL HAPPEN”.
A). Through back testing you see how things will play out long term with the historical data of the 10 real years past for that currency pair.
B). You learn from your mistakes, become more conservative, “ACCEPTING” that there will be a “MARGIN CALL/LOSS”, and can practice different ways to recover for different situations, before and while the loss is happening.
#3. You can practice trades “Any Time”, weekends, whenever. Pick chosen years or experience the whole 10 yrs, slow it down, speed it up, and go back & forth. Basically take in an entire real year of history in ONE day
#4. Duellatorus has the view that if you have done your home work. Which means, practiced a chosen currency pair with the strategy you are investigating through the 10 year actual history of that pair. Then you are practiced and ready for “Real Money Trading” with that currency pair.

This is a virgin thread. I am hoping to show what can and can’t be done with:
Forex Tester 2
from my limited “practical” view.
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Eric Alyea

Master Sergeant
A good day to come back

A good day to come back
Look at the action on EUR/USD 4-11 & 4-12-10
Had to take care of other business and was away. I worked on back testing since the program I’m using (Forex tester 2) doesn’t need an internet connection for me to train or practice.
I thought that my demo (practice play ground) would have margin called me out. EUR/USD took a nose dive while I was away, 200 or so pips. I was surprised to check the practice account:

When I was away total’s
$127,971.20 @ 00:14 CST 4-12-10
$127,663.64 @ 12:11 CST 3-18-10 (trades open)
$307.56 interest

Eric Alyea

Master Sergeant
Special insert

Wed 4-14-10

$134,574.44 @ 10:52 CST 4-14-10
$130,799.07 @ 00:50 CST 4-14-10 (orders open)
$3774.97 pips 755

This is the 1st time I closed trades out at a loss, 5 of them. They had been there since 3-18-10 and were in the 3 pip range and I wanted to be closed out and clear. I finally get to have the option to do some “Sell’s”. I've been stuck in Buy since 3-18-10. Switched to Sell @ 10:52 CST. My candles are set for green=up, red=down. I have been working the bottom of those red candles for to long. It’s nice to be able to work the top of the green with sell’s.
I’ll have more on my being away and stuck in trades when I’m done doing other people’s tax’s.
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