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5 profitable days in Silver 2

 

5 profitable days in Silver 2

Hi

I am now in Silver 2 and have succeeded in solving everything except 5 profitable days in row with 5 trades or more. This is a hard one. I believed I had 3 days but it turned out that I was positive on pips but negative on profits on day 2. Any advice would be appreciated. I tried with many small positions in both directions and take profit set at 20 pips and stop to 10 pips but it is difficult.

Is there some place in Alveo or elsewhere where you can see the profit for the day? The only way I found was to copy the trades for the day from the Statistics page to Excel and sum it up there.

/Britt

 

Sun, 06/09/2019 - 3:44am
 
andy.bettens

For example place 10 positions, 5 EUR/USD buy and 5 EUR/USD sell each day small positions. Close only the profits and see that buys are same as sell.

 
boss_hogg

Watch your Daily Return. When it's green, you're profitable for the day (even if it's a green zero). Once it's green, quit that account for the day. Do this 5 times in a row and you're done.

 
Rookie

Next to the ham a day challenge this is a most valuable exercise.

 
richardhobbs

I'm in the same position, Beeline - 5 Profitable Days with 5 Trades Silver 2. I live in London, United Kingdom. I would like to know when a day starts and ends. GMT. Do I need have 5 new trades each day so a minimum of 25 trades, do they need all to be open trades, My daily returns have been in the green for more than 5 days, but my account is only showing 1/5 I don't normally shut down alveo so perhaps I need to do what boss_hogg suggests closing alveo once my Daily Return is Green when do I open it again?. Today i'm +2.2%

 
britt

For me the day ends at 2 am, I believe it for you it would be 1 am. You can see it in Alveo where it says GMT and date and time. You need 5 new trades that you then close each day for 5 days in a row. As you say the sum is 25 trades. You can see if you are positive for the day where it says Daily return in Alveo. If it is green you are positive. You need to be that for 5 days in a row.

 
britt

I have now succeeded to reach Gold 1 and there it seems the most difficult is to have a positive expectancy in last 50 trades.

 
Exiled

Wish I would have read this conversation weeks ago lol. Silver 2 is a doozy for me. Still trying to understand how I can bring in a few hundred pips each day and still be negative in Daily Return.

 
boss_hogg

Exiled, that happens when you're not consistent with your lot sizing. It can happen the other way too. Negative hundreds of pips and up 2.5% on the account. It's a good practice to maintain .01 lot size throughout the Beeline, and even into funding. Consistency is everything. You won't need to even think about dollar amounts for a long time. Focus on pips and daily return %.

And Silver II was the toughest level for many, many bees. Me included. It takes you out of your comfort zone by design and shakes everything up for you. It's OK though. Just knock the requirements out one at a time (or 2 and 3 at a time if you're savvy).

 
kochitta7

Silver II was the toughest one for me as well. But do not give up, Keep your trade position side small like .01. always have your stop loss on. My setting are 7 stop-loss and 21 taking profits. But most of the time, I just take any profit and I am moving my stop loss up. if I see that my position are in Negative, I close my position.

 
Exiled

Appreciate the feedback, as for consistency. I thus far, have only traded with .01 Lot Sizes. Not a single trade placed since Bronze or copper that I had for more than .01 lot sizes. Every last one of my active trades, all uniformed to the same lot size, mostly for ease and simplicity until I become more seasoned and experienced with this Daily Return Metrics. Am still struggling to figure out how, when I am consistently generating positive pips, and the Daily Return remains in the negative, an effective means of boosting that Daily Return into the positive (Green). Or as to WHY it is in the negative when I have not taken any LOSSES, just have open, active trades which are in the negatives, waiting to turn profitable. Is that what is keeping the Daily Return in the negative? Having open, active trades in the negative? Is that why some Traders go ahead and take a loss on a trade as to help boost or minimize those Daily Returns falling into the negative?

 
boss_hogg

That explains it then. Yes, the daily return % will fluctuate with your open trades. It's like a running total or sorts. Same thing with the Equity. It fluctuates with open trades too. Once you've closed a trade in profit, that profit is locked in, but if it's countered by open trades in the negative, then your daily return and equity will still show as negative.

You can use your beginning and ending account balance to figure your daily % return on closed trades. I do that in my journal since I always have a ton of open trades going.

 
kawannyanat

I joined Apiary Fund Trader Development program having spent significant resources in the past. I bought trading books, joined online webinars, signed up for forex coaching programs online and have been losing money. So I guess I am contributing to the statistics of many aspiring learners that never really makes money in trading but I have not given up. My goal is to find out and understand why and what I have not been doing right and hope that Apiary Simulated accounts and the systematic trading development program could help to correct all the bad habits. Going through the Silver program I am learning to focus on the trading process to learn the market, develop and execute my trading system and training myself to be disciplined in executing them which is the hardest tasks. Knowledge about indicators and concepts of price actions are not difficult but to use the knowledge and develop skills in the market to make profits consistently is tough. At this point I am not paying attention to equity curve just concentrate on executing trades as per the required tasks and look at impact and statistics.

My main challenge is time due to my fulltime day job, hence no access to market or trading tools during the day. I have to resort to trading style that suite my daily routine after work by which times I am already exhausted and not really the best frame of mind to look at the market and trade. I am resorting to daily charts at the end of the day for trading signals and because of time differences, I can never catch the ideal times for short term trading style. For example, it is a challenge for me to place 5 trades for Silver 1 requirement during the first two hours of New York Open as the times does not fits my work day schedule.

For now, I am analyzing market using Bollinger Band, implementing the idea of "Squeeze and Bulge" to identify market contraction and expansion phase to place Break out Trades. I use two B bands (20), the first one with set up of 2 std dev and the inner one with 1 std dev. The Buy trade signal is triggered when the candle close above the upper band of 1 std dev in an uptrend after the contraction (squeeze) as shown above. Sell signal is when candle close below lower band of 1 Std dev. in a downtrend market. I use 2 x ATR (14) for my stop loss and 3XATR(14) for profit target with the goal of achieving at least 1.2 Rewards to Risks Ratio.

Whenever I have time, I tried Shawn's Wobbly to scalp into pairs with initially winning positions using 3 or 5 pips targets (stop loss 25). Most of the times the loosing trades wipe out the small scalping profits. But it's interesting to find out that one can collect pips fast within a short period if one get it right but also can collect large negative pips when the market is against the trades and ironically its most of the times. If I can do it well, it helps to add to winning positions. I have to find out how to peel off loosing trades early based on what Shawn teach in you tube.

Any assistance and advices from the Forum group is appreciated.

 
tully319

I'm funded and my biggest advice is to keep your lot sizes small .01, as your still learning your losses won't hurt so much! I still use small lot sizes, .01,.02,or .03 the most! still learning so I don't take big losses!

 
John Adams

Thanks for sharing your struggle. Keep working at it and you will succeed.

 
kawannyanat

Thanks for the encouragement tully319 and John Adams.