Warning This is only my opinion & we are using this strategy for our VIP channel. If you are in some other VIP channel then make sure to ask admin before applying setting
Man oh man, it’s been a long journey!! we started our free channel in March – 2019 & we were free channel for quite a while. We were doing everything Manually, Tracking signals, tracking targets, how much time it took, how much profit we made etc etc and then one day like a miracle we got to know about Cornix Trading Bot & it changed our Trading life!!!
Imagine that all you have to do is give out signal in your telegram channel & bot places the order right from there directly to your account on exchanger!! Yes it is possible & if you are still not using it then Click here & start now!
What configuration we are using Right now?
So right now we are at 50% entry on first target & rest 3 targets have evenly divided entries, what happens is sometimes we get only 1 entry targets filled so I am thinking about applying this new Configuration, I am still testing it out so I will do it once after test is done, but this is how it will look like.
Changes you need to make right now?
There are lot of limitations for an admin to tweak with configuration but for a Subscriber it is heavily customizable, I truly believe our configuration is great but only thing that I have noticed is our Stop loss getting hit much lower or higher than the given in signal. This is mainly due to market orders. after this config bids will be placed on orderbook rather then stopping in Volatility with slippage of 40-100$
First & foremost if you are using your personal config please go to Trading Configuration & reset Defaults, so this way it will be following channels config/ Config given along with the signal.
Go to Cornix bot -> Main Menu -> Trading Configuration -> Select client -> Stop Type -> LIMIT
Repeat this action for both your clients.
Amount Per Trade?
I have said this a thousand times & will say it again as lot of people just don’t get to understand this, ALWAYS USE SAME POSITION SIZE FOR YOUR TRADES. You see trading is not all about Profits it’s about managing your risks properly, all that I care about is what I started with 1st of month & what am I gonna end my month at.
Do the simple math, Let’s say you have 1 BTC in your trading account & you started Trading with a Signal provider, you are all excited & don’t manage your risk, You take the first trade with 50% of portfolio, Position size is 0.5 BTC & now boom trade hits stop loss of 10%, How much did you loose??
I am calculating this without any leverage, your loss on 0.5BTC is 0.05 BTC for 10%. Balance Left – 0.95 Btc, Total Loss on Portfolio 5%
You go for next trade, thinking you want to RECOVER, but this time you are cautious & instead of 50% you go in with only 10% of position size, Your portfolio is 0.95 so 10% is 0.095 for that trade. It’s a win!! you hit targets & profit is 10%.
For 0.095 your profit is 0.0095 – New balance 0.9595 BUT you are still in loss!!!!
It will take you a lot longer to recover Approx. 5 Trades if you are using 10% & making 10% profits.
This is the reason why position size is the most important thing in Trading. I advice to use 10% Position size in every order no more no less!! if you are risk taker then you can use 20% however I don’t advice to use more than 20% in any trade.
Don’t believe me check out following images, this are the trade history that I have gotten from few members, as you will see what happens when you follow a good strategy & when you don’t!! Some are on Autotrade some are following manually
So how much to trade with?
I keep saying use maximum 10% & I will be sticking with that rule, However it totally depends on your risk factor, say you have a small account & you are OK to risk it for High risk & High rewards then I will suggest using 20%, this is for bitmex as usually we are only in max 2-3 trades at same time and our stoplosses are pretty tight.
For Binance however story is different, For binance we ask you to use Fix amount, IF you have portfolio of 1 BTC & want to trade I will say use 0.05 fix BTC amount per trade which is 5%, as there are well over 5-6 trades active at a time when altcoin’s are booming.
You see 300% profit does that mean we made 300%??
If you checked the images of trade history posted above you will see the actual profits, in my PDF’s of trade history as well i always mention this profits are based on your Position sizes, If you ever want to find out what you will make on a trade just go to Calculator given on Bitmex. Calculated ROE is different & Actual Profit/Loss is different.
If you ever want to know the actual profit or loss on that particular trade just divide the ROE with maximum available leverage. for BTC it is 100x
My obsession with 10 Take-profit Targets
I have been asked a lot from members why 10 targets why not 4 or 5 targets? answer is simple I like taking profits at different levels, turning a scalp trade in to a swinger because market moves way more than always expected & if we have had a great entry (like we did for ethereum long 169) I will be able to tweak last few targets. if you notice 5 targets given in any trades are always scalp then only i Target swings. with the market we are in today it is extremely risky to hold a position for too long so taking profits at multiple levels is better.
No way this article is finished, this is just few things I have noticed & changes we are making, I will constantly keep updating this article. Please do let me know if you have any doubts or questions.