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Old 05-14-2010, 04:32 PM   #9

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Re: British Pound Futures

I'm sorry Siuya, but I'm afraid I don't know what you mean by links that freeze your screen and needing to put in your email address etc. Again, this is just meant as a forum for those who want to share their UTA results or anyone else who wants to learn about this tool. I'm fairly new to Traders Lab and am not sure what you are referring to with your post.
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Old 05-14-2010, 05:00 PM   #10

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Re: British Pound Futures

Here's a quick recap on the BP trades we took, per the tradeplan described.

It was nearly a perfect week. Yesterday it took us three trades to hit our two winners, or it would have been a perfect 2 wins and done the past 5 sessions. We wound up taking 11 trades for the week, winning 10 out of 11. New equity highs were hit again today. For the week, we netted +101 points on 11 trades.

UTA stats improved a bit. Our win rate ticked up of course, to 69.7%. Our profit factor ticked up to 1.96. So for every dollar we put at risk, we stand to make 1.96 back.

I haven't had time to update the EC which did struggle this week. Today was excellent however and a big trailing move really helped us. I'll be out for the weekend. Hope everyone enjoy's themselves. Looking forward to Monday's session. -- TJ
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Old 06-03-2010, 12:50 AM   #11

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British Pound Futures - 12 out of 13 Winners

Our British Pound Futures Wins 12 out of our last 14 trades! The EC paused today and took a step back, unable to post a winner. But it was bound to take a step back after the run it's been on lately. The BP however, continued its winning ways with a strong 2 out of 3 during a very sleepy market.

I've received a bunch of questions regarding the reentry set ups I am using. Here is a video that recaps the past few BP sessions and also walks through the various considerations we make regarding the reentry style set ups. Also, a good look at how we use the UTA to gain further insight into our trading. Check out how a 3% risk profile, beginning with a $15,000 starting account, more than doubled after expenses, in about 4 months, with very minimal trading; anywhere from 30 minutes to 2.5 hours at the most, each morning (US session).

Play Video

Finally, I notice a lot of people reading our UTA posts. Feel free to join in. Ask questions, post comments. We're here to help. While this forum is designed to help people learn the UTA trade tool, we talk a lot about the trades we are taking and how we use the UTA to continually be self critical and to help us indentify where we need to focus, to improve our results.
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Old 06-09-2010, 01:00 AM   #12

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Quick Update on How the British Pound futures is Doing

When we began this thread, the BP (not to be confused with the company that is wrecking the Gulf of Mexico) had made about 500 net points or so. Since then, about a month ago, the HVMM strategy we use and track with the UTA, has continued to post steady winners. As of the end of today, we are getting close to doubling the earlier point total, with +967 points and a 68.31% win rate. Also, we have a session win rate of 78.82 % and a weekly win rate of 83.33%.

As I stated earlier, the first 6 weeks of these stats were from backtest results. Since then, beginning the 3rd week in March, the trades have been real trades, called live in our trade room (Live Traderoom Blog). In fact, we gained +197 points in May. This week we haven't lost a BP trade and have made new equity highs again. I have attached the current equity curve below. Also, you will find another diagram that shows a single contract equity curve as well as an equity curve with a fixed fractional money mgt strategy applied, based on the risk parameters listed below:
  • 3% risk based on the avg losing trade over the past 243 trades ($101.46).
  • A starting trade account of $15,000
  • $5.50 commission and $5 per trade slippage, which might be low but I'm assuming that we're using stop limit orders to enter our trade and I haven't experienced many missed trades; one maybe two in over 200 trades take.
  • The chart with the two curves is net of expenses

Fixed Fractional Money Management is only one technique of course, and arguably there are better approaches. But this simple example illustrates how powerful a well thought out money management plan is and how it can dramatically effect your bottom line. Moreover it is only one of the many powerful UTA tools that can help a trader make better overall trade decisions.

When you look at the graph, keep in mind that the green line is the managed equity curve and is read on the right axis. The single contract is blue and read on the left axis. You could see how much more volatile the managed equity curve was, but also, how much more profitable it was. The histogram below the curves shows the number of contracts being traded, as the UTA calculated the positon size, trade after trade. It had traded up to 11 contracts but has since backed off a bit and currently is at a 9 contract position size. It will be interesting to see how this looks a bit down the road. Stay tuned.
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British Pound Futures-bp-curve-8th.gif   British Pound Futures-bp-manged.gif  
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Old 06-11-2010, 02:08 AM   #13

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Re: British Pound Futures

This forum seems very interesting to me. I'm a newbie to TL and have been exploring around. This thread caught my attention because I tend to be a very structured trader. I believe I have a good feel and instinct but I try to discount it as much as possible. My way of trading is to rely on my rules and my trade system. It seems this tool of yours, the UTA, could be very useful. Is there a way to account for some discretionary decisions though. As much as I try to stay the course and trade my system with discipline, there are still times that a little human intervention makes all the difference. Making adjustments around obvious support and resistance levels, for one. I would like a tool that allows me to track the statistical results of my discretionary decisions.
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Old 06-11-2010, 03:27 PM   #14

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Great Week on BP Again..

Not sure if anyone is really interested in the BP futures but it sure has been working out great for me and my trading. This week, trading it a bit more cautiously with lower expectations (regarding my own trade goals) due to contract rollover, I took 7 trades and won all 7. Granted, 2 of them were only 1 tick gainers and qualify really as break even trades, but that's how my trade mgt works. On the other hand, those 1 tick gains are indeed winners because they saved me two losing trades. In the end, trading just one position, the BP was able to pick up +79 points with no losses this week.

My UTA spreadsheet continues to show me that my strategy and approach just keep on, keeping on. The win rate is holding at a steady 68.7% and has actually ticked up a bit. In fact, over the past 26 trades, there have only been 6 losses. There were five 1 tick gainers so I'll count those as break even trades even though they saved me from losing trades. That means 15 winners, for a total point gain over those 26 trades of +220 points.

Today's winner was another new equity high, ticking up my win rate as I mentioned, my profit factor, currently at 1.81, and an uptick in other significant stats as well. I'm looking forward to Monday's session.
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Old 06-23-2010, 02:55 PM   #15

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Re: British Pound Futures

I just asked you about the EC but thought I'd see how the BP has held up too. Would be interesting to see. Your system seems to be pretty steady so far.
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Old 06-24-2010, 12:54 AM   #16

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Re: British Pound Futures

AmCan1, yes it is. I've got about 265 trades now and the win rate has held up great, 67.55%. I've attached a pic of the current equity curve. It just came off a big winning streak and has just won 4 of the last 5 trades. Currently, we're a hair below are profit high water mark and shoud be breaking out to new highs any day. Maybe tomorrow.
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