Bread and Butter Trader review
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228 comments
Mark Rose
I had an email from Michael at the beginning of the week. It’s so nice to receive stuff like this.
———————————–
I think I’m finally getting to grips with B&B Trader.
I thought you might like to see my results from trading a £10k demo account over the last 2 weeks, trading most days, sometimes mainly in the morning, others most of the day – but with long breaks to do other things.
Obviously, I need to continue to improve and get more comfortable with it, but I think it’s safe to say I won’t be giving it back! 😉
Michael
Anthony
Hi, do you have any updates for the B & B Trader please? Things seem to have gone very quiet.
Anthony
Interesting and encouraging results from Michael, but did he happen to mention any details of the types of trades made? For example, which Time Frames, any Continuation Trades, any shortening In Trades etc.
Thanks,
Anthony
Mark Rose
Afraid not, but it shouldn’t be too difficult to work out the trades by looking back at the charts.
I think Michael is using a 15min time frame, for this alerts and then shortening in and I expect it will be a mix of reversal and continuation trades.
Regards,
Mark
Mark Rose
Sorry it’s been a bit quiet on here, I have been very busy helping new members get set up and in the last month have posted 16 videos of live trading on the members area blog.
Good news is we are close again to reopening the doors to the second wave of members.
B&B is being released in waves, so I don’t get swamped . The first quota sold out in 3 days.
If you haven’t done so already, please get your name down onto the waiting list. You might not get an invitation this time, but will be in the 3rd wave in about a month or so.
Michelle
Really pleased to have got in early on this. Looking forward to my trial.
Steve
Just signed up this morning. Very excited to get started!
Mark Rose
I’m glad I managed to place a trade this morning, as my inbox has blown up a bit since we launched the B&B software.
I placed the trade before I went to walk the dogs, which I do find strangely satisfying, though It didn’t actually close whilst I was out, which embarrassingly, might be one of my most favorite things in the world!
On the screenshot is also a final trade I closed on Friday, as I didn’t want to pay the overnight charges for Fri/Sat/Sun.
This put last weeks total at £1293.14, the week before was £1522.68 and this week so far £491.26.
I suspect this initial wave of B&B membership might be coming to an end quite quickly as the response has been very positive. If you are interested, then please don’t delay in signing up. It does come with a trial period, so you can test it out.
Mark Rose
No videos, but here’s the state of play for this week.
Mainly based on signals from the 5min charts, but just to prove you can also use longer time frames the big EURGBP trade was placed based on a signal from a 30min chart and ran for several days
Mark Rose
I didn’t manage to make any more videos, but for completeness here is a screenshot of my trades for the week.
Overall profit for the week £1522.68.
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu
Mark Rose
Another trade video for you today.
This one took all of 10 minutes to make £200.
David murphy
What is your stake to win 200? Eg 10 per pip or whatever.
Mark Rose
Hi David,
This isn’t as easy a question to answer as you might at first think.
If you look back through my trade examples lower down in this comments section, you can get an idea of the size of the stakes I’m using to achieve around a £200 profit, but this will be variable depending on how you decide to trade.
You might decide to risk 0.5% per trade, with the intention of opening multiple trades per day, or you may possibly go as high as 2% per trade, but only looking to have one trade open at a time.
The higher the % you decide to risk, the bigger your stake will be.
You might trade the longer time frames, which in general will have wider stops. The wider the stop, the lower your stake will be.
You may be looking to scalp at a 1:1 Risk:Reward ratio, or might prefer to push for a bigger 1:2 Risk:Reward ratio.
The larger the distance in pips to you profit target in relation to you stop, the smaller your stake will be.
As a guide, if you were going for a 1:1.5 Risk:Reward with a 10 pip stop,then you stake would be £13.33 per pip move.
If you had a 20 pip stop, it would be £6.67 per pip move.
Gary Chappell-Smith
Hi Mark,
BB trading looks good.
Can this software be used for weekly trading, or setting trades the night before?
Regards
Gary
Mark Rose
This is really a day-trading strategy. In theory it could be run on longer timeframes, but it’s not the way I use it, as I have other daily/weekly strategies.
Gary Chappell-Smith
Would be interested in daily weekly trades, if info available
dave rankin
How does this integrate with the broker?
Mark Rose
Hi Dave, We’re running it on MT4 – it’s very simple to get set up.
Mark Rose
I’ve not had the chance to place any B&B trades until today as we were away celebrating our 20th wedding anniversary.
Things are moving forward with B&B, so if you haven’t already, please sign up to the waiting list.
My plan is to limit the numbers, so I can properly focus on getting people set up and running.
I have managed to place one trade today, which I have videoed, this one even has some audio!
Mark Rose
Another short silent video showing the software at work.
Paul Ene
Please am interested in the software
Thanks
Paul
Traders Bulletin
Hi Paul, you can get all the details here: https://www.breadandbuttertrader.co.uk/promo/
Julian
Hi Mark,
How close is it until this will be available for purchase.
Julian
Traders Bulletin
Very soon. I’m hoping to open up the waiting list in the next couple of weeks. Watch your inbox for updates!
Mark Rose
Getting ready to launch a product is seriously getting in the way of actually trading it!
Managed one trade so far today at least.
Took a bit of a gamble trading across the BoE interest rate decision at midday. Wide spreads and a move down could have knocked me out, but luckily prices moved up.
Can’t help thinking I should have gone for a bigger profit target.
Mark Rose
Here’s another video of a similar ilk but this time i’m going for two profit targets. One at 1:1 and another at 1:2.
Mark Rose
I know last week I said I would post some more trades, but forgot that I was away on a trip from Thursday until today.
Anyway, here’s a video of a trade being taken this morning and there should be another following shortly.
It’s a bit dry, but at least shows you the software in action and I won’t be offended if you fast forward through it!
Mark Rose
I appreciate I have said this before, but we are now getting very close to launching B&B.
With that in mind I am planning to start posting some more trade examples here.
I did get some feedback from my testers that they liked being able to block out a couple of hours to trade, as much as they liked being able to respond to trades through out the day.
So, some would set aside some time in the morning, or after work, where others were happy to be sent signals all day and could respond to them once received.
This is all fine, but does involve approaching things a little differently.
If you want to set aside a hour or two, to be guaranteed some signals, you will need to be trading the 5min/1min charts. If you are happy to respond to signals through out the day, then you can trade longer timeframes.
As I am able to respond to signals, I’ve tended to set the alerts up to identify potential trades on the 15min charts, but recently I have set myself the challenge to trade the 5min/1min charts.
All in all it’s been quite good fun, if a bit frenetic at times.
I am tending to look for a quick in and out at 1:1 or something close to that, as i have found a lot of shorter term trades will turn before getting to 1:2, especially if against an established trend.
Above is an example of a trade that was signaled at 2.45pm, opened at 2.49pm and closed at 2.52pm for a 1:1.2 return!
Admittedly most aren’t as quick as this, but hopefully you get the idea.
Mark Rose
Half term last week, so we disappeared to a warmer climate.
Back today with just one trade. It was a nice win hitting both profit targets.
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
Another live trade for you to enjoy.
Mark Rose
Making some progress with B&B
Here’s a video of the latest version in action.
Mark Rose
I’m having a good day.
Not so much because all my trades have won, although they have, or that it is mind-boggingly profitable, but I have been placing my targets and stops in frighteningly accurate places and have also had a bit of help from the trading gods!
I managed to squeeze two wins out of this move up on USTech, just before price reversed.
I knew there was some USD news at 2.45pm. I would normally play safe and come out, because I always get stopped out by the whipsaw and wider spreads around news. Today I was making a cup of tea and forgot about it.
Somebody is looking out for me.
Mark Rose
I know a lot of you are watching this page, keen for news on the Bread and Butter software.
I did receive an Xmas present from my developer and have been using version 18.5 of the software for a few weeks, with good results.
In fact, most of the outstanding issues are now resolved.
I do have a problem with some of the TA being deleted from the chart when I switch time frame, I can drag it back on, but would rather it just stayed on the chart, and I have an issue with when I am able to move the entry, stop and take profit levels. I want to be able to do this one stage earlier in the process, which involves a rewrite of the code.
Other than that, everything is working well.
This morning has been quite a busy morning. I have taken screenshots of the B&B trades I have taken.
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
A bit late taking this USDCAD screenshot as price has almost reached my first profit target.
EURUSD triggered and halfway to my profit target. I decided to only go for one target on this trade, just above the recent low from a couple of weeks ago.
Price reversing on this USTech trade.
AUDJPY price hovering around my entry level.
GBPUSD getting close to my first Profit target.
USDJPY moving toward my first profit target.
GBPUSD – First profit target hit.
USDCAD – First profit target hit.
USDJPY – First profit target hit.
USDJPY – Second profit target hit.
GBPUSD – Moved my second Profit target
EURUSD hit only profit target.
GBPUSD hit second profit target.
USTech hit stop for loss.
USDCAD – Second half taken out at breakeven.
AUDJPY hit stop loss.
EURJPY – Hit first profit target.
EURJPY – Hit second profit target.
Another go at EURJPY, but a buy this time.
Moved my first profit target to 1.5:1
Both profit targets hit.
Yesterday and today’s results + £1327.36 which is 4.58%. Risk per trade 0.5%.
Mark Rose
I appreciate this trade may not look very different to a normal B&B trade, but I’m very excited by it.
This is a slightly different set up that my programmer and I have been working on, more of a continuation of the existing trend, than a reversal.
We do still have a few issues to overcome, so I’m afraid the B&B software is still in development, but definitely a big hurdle crossed.
I decided to delete one of my profit targets and move the other.
Moved my profit target again to just below the high from two days ago.
Hit the profit target for a nice profit.
Mark Rose
I enjoyed this trade and maybe should have posted it on Instagram.
Always nice to start your week with a win, especially so when you get the notification whilst you’re out walking your dogs.
That said, a middle aged man walking his dogs probably wouldn’t get many likes!
Mark Rose
The good news is my developer has been able to get back to finishing the B&B EA for me.
No idea how long it’s going to take, but good to know he’s back with me.
Trading wise I’ve not done much this week.
I have just closed a DAX trade for a win and did the same on a US500 yesterday, although I didn’t screenshot that one, but you can see the result in the 2nd image.
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
Glad to get a good profit on this trade.
Price tested my stop a few times before finally reversing and moving off in my direction. Very close to being a loss, but a good win in the end.
I pushed my luck a few times by moving my profit targets out. At one point thought this had worked against me, there is a fine line between maximising profits and being too greedy.
My first profit target was a 1.58/1 Reward to Risk
My second profit target was a 3.6/1 Reward to Risk
Overal this gave me a 2.6/1 Reward to Risk on this trade.
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
Sorry it’s been so long since I posted something about B&B on here.
I’m a bit stuck waiting for my developer, who went and started another job and has been unable to do much on B&B for me.
All very frustrating, but in fairness to him I did throw in a bit of a curve ball at the last moment and as ever, what seems a simple development to me, involves changing a lot of code for him.
He is now telling me he will be able to devote some time to B&B at the end of the month.
At the moment B&B is all about spotting reversals, my upgrade is to also look for potential continuation trades.
This should mean more trading opportunities to take advantage of.
Below is a nice reversal trade I took today. I didn’t take the screenshot when I placed it, so the first image shows the set up after the event, but the second was taken just after my second profit target was hit.
Annoyingly, I was watching the trade and thinking about moving my second profit target down to the previous lows around 1.2150.
What I had missed was we were very close to 1.30 and there was US economic data coming out, which quickly moved the price through my profit target.
a few seconds quicker and this could have been an even better trade, although, most times I like to be out of trades before economic releases.
Mark Rose
Back into GBPUSD.
I know I shouldn’t revenge trade, but it is nice when you win your money back – and then some!
On this trade i moved my two target closer together at the recent low. The black line is showing a level I was worried price might reverse from, you can see why on the second image.
I did snatch at the first profit target as I wantd to take some of the profits/risk off the trade, then held out for the second profit target.
Mark Rose
I split my risk across these two trades as i could see that it was likely both would get triggered.
Both hit my first profit target and then pulled back to my stop at break even.
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
Trading gods out to get me on my first trade this morning, so close to being a win, but ultimately a loss.
Still, things have gotten a bit better since.
GBPUSD sell. Just touched in, just touched out, then price dropped like a stone to my profit targets. Even more annoying as i had just opened a trade I wandered into the kitchen to make a coffee and missed the second chance to get in.
Mark Rose
Going to give myself a bit of a break on this one.
Price did reverse on US30, just a little lower than I had anticipated, so think it was an ok decision to get out when I did.
Of course, now I am annoyed with myself for not getting back in with a long!
Mark Rose
It’s funny how I always find something negative about my trades, even when I’m having a good day. Today I am annoyed about snatching at a profit.
I’ve now closed two more trades and have made £1975 in profits, so I really should be happy.
First trade was on EURJPY which hit my fist profit target and then pulled back to breakeven.
Second was on US30 which made my first profit target and would have made my second, but I closed it slightly early as I was watching the trade and thought it was about to reverse.
If I’d left it it would have put me over the £2000 barrier, which would have been nice.
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
Thought it was about time I updated you on progress with the B&B software.
Lots has been going on.
For the last three or four weeks I have been testing version 17.5 (My last post on here I was using version 17.1) and so far I haven’t found any bugs.
I did go out to a small group asking for some feedback about how they would like to use B&B and I was a little surprised by the replies.
There was more appetite for scalping/trading very short time frames, than I had expected.
To that aim, recently I have been trading B&B on 1min charts.
This does mean my phone is buzzing at me a lot and this is only really a strategy for you if you are at your pc, but many of you have said that you can commit some time to be in front of your pc more easily than being able to react to signals spread out during the day.
Glad to report that B&B can be used by either approach and pretty much anything in between.
So far today I have taken two trades.
GBPUSD has made it to both of my profit targets.
EURGBP made it to my first profit target and then pulled back to my stop at breakeven.
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
One of those days today.
I was a little late to my PC and missed a few opportunities that would have won.
Then nothing so I walked the dogs… and missed a couple of opportunities that would have won.
Finally got into a trade on EURUSD, it lost.
Got into another trade on USDCAD that at least won to my 1st profit target, but then pulled back, just touched my stop at break even before going to my 2nd profit target.
Then got into a USDCAD trade that did exactly the same thing.
Net result £2.25 profit. I’ve had more productive days.
Mark Rose
Another day of videoing the trades.
The idea behind the software is you don’t need spend hours watching the markets, so whilst I usually take a look at open trades it’s been a very long time since I’ve watched them this closely.
It’s exhausting.
My results today were ok, but watching price turn just before my profit targets (repeatedly) was excruciating.
Definitely mentally easier to set your targets and then stop watching the charts.
Overall profit on the day was £825.59, which is approx 3.3%
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
I managed to sneak in one more trade before needing to be away from my PC.
Another win to both profit targets for 1.5%, making it roughly a 4.5% gain on the day.
I videoed this one too so will add it to the collection.
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
Risking 1% per trade.
2 wins to both profit targets. (2 x 1.5% = 3%)
2 wins to the first target, second half closed at break-even. (2 x 0.5% = 1%)
1 Loss. (1%)
Total 3%
Interesting thing today is I videoed the trades and will be posting them in the members area.
This will show the why and how’s of the trades, details I’m afraid I can’t share here.
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
Not much to report, slow progress being made on the software, but we are moving in the right direction.
I ended up only placing 5 trades this week.
Four won and one lost for 5% profit overall.
I would normally trade a bit more often than this, but it’s a good example of how you can use B&B in a way that will fit in with your schedule.
Mark Rose
Glad to report some progress now being made again on the Bread and Butter Software. Sorry it went a bit quite on here.
Since my last post, there have been a plethora of issues, that have held us back. Mostly personal and not to do with the software itself.
These included.
A house move and now renovation project.
A broken shoulder.
Partner going into hospital and now recuperating.
Extended holiday.
Apple removing the MT4 app from the App-store – This was particularly frustrating as we spent time and effort building a work around to use Telegram, for Apple to then reintroduce the MT4 app onto the App-store.
Some bugs.
As we stand at the moment, there is one bug left that we have identified and hopefully know how to fix.
As with all things software related, we will need to check if this has any unintended consequences, but we are confident that now the team is all able to work consistently on the software, we will soon have this one beat.
In the meantime, I have been working on the course/videos to support the software and have the bulk of this done.
The amendments recently made, will require a remake on a few of these, but nothing too time consuming, so hopefully we are going in the right direction again.
I’ve only placed one trade today, which is my first since the bank holiday.
Glad to start with a win.
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
Last trade of the day just closed. This has been a good day.
£2381.46
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
And another. Closed this just before 9pm. Nothing much been happening with it for the last two hours.
Mark Rose
And another.
Mark Rose
And another.
Mark Rose
Then the wins started.
Mark Rose
Another loss. A bit of give and take again today.
Mark Rose
A nice win, no complaints about this one.
Mark Rose
Also a bit annoyed with myself on this trade. Moving my stop to break even touched me out. It wasn’t a great level for the stop from a technical point of view and I shouldn’t have moved it.
Still a nice profit.
Mark Rose
Doubly annoyed with myself on this trade.
Missed the round number of 84.00. Of course price would test this and stopped me out.
Then missed the second set up that won to my second profit target
Mark Rose
Using version 16.4 today and I think I will soon be seeing 16.5.
16.4 fixed a few minor bugs, plus I’ve increased the standard risk per trade from 0.5% to 0.75%.
We’ve two more hurdles left to cross.
Sending alert messages to iPhone and recalculating stakes if the entry or stop levels are moved by the user (this was the one my developer was covering in the email I published yesterday).
Both are doable, so I am confident we are getting close (I know I’ve said this a lot in the past!)
Good news is I started today with a win!
Particularly pleasing because of the increase in risk to 0.75% and therefore increased profit.
First trade was on USDCHF. I closed the whole trade at slightly more than 1:1 as could see support. Could have left it to run further.
Mark Rose
Another win with a 1:1.8 Risk to Reward got me back in front to finish the day, but it was hard fought.
Total profit on the day £338.80
Mark Rose
Then lost again on the US 500, which put me back behind for the third time on the day.
Mark Rose
Then gave some back again on GBPUSD.
Mark Rose
Got into NZDJPY next. Moved both my targets to 1:1.8 Risk to Reward. You can’t quite see it in the chart, but price had consolidated at this level earlier. As it was I could have pushed out for more, but a nice win regardless.
Mark Rose
Had another trade set up on AUDUSD, but this one lost.
Mark Rose
Quick draw McGraw on this trade. Placed it within 18 seconds of getting the alert!
Hit my first profit target. I then moved my second out to recent highs and moved my stop to break even.
This was asking a lot, but at least I knew I wouldn’t lose on the second half.
Price did pull back to break even to close and would have hit my original stop too, so moving the stop loss up to break even saved me some profits.
Mark Rose
I had an email come in from my developer last night that I’ve decided to post below.
You don’t need to understand what he’s talking about, but I think it shows the level of detail we are into now and why the Bread and Butter software is so good.
I have been getting my head round this issue, and I know what the problem is. I will have a go at explaining it, it is a little complex, but it will help your understanding of how TM (Trade Manger) operates.
TM starts monitoring the trade levels once a potential trade has been confirmed, and throughout the life of the live trade, adjusting levels as you move the levels up and down. The important word here is “starts”.
The process of finding a trade once TM has been dragged onto a chart is all done between the first and second ticks. From the second tick onward, we have the possible scenarios:
a) no valid trade has been found, and TM has been closed down
b) a valid trade has been found and TM is now live, waiting for the entry to appear
c) TM has set up a potential trade and is waiting for that trade to trigger
d) TM has found a potential trade and it has triggered already, or the user has requested an immediate trade should be opened
Levels monitoring by TM starts at point c) and not before.
At points a) and b) you can change the levels till the cows come home, and it looks as if you have done what you would normally expect to do, but TM doesn’t recognize these new levels as it isn’t yet monitoring them.
That’s why, when the potential trade eventually triggers, the levels ping back to what TM know them at – the levels it calculated in the first place.
For TM to monitor the levels, it can only do this when a stream of ticks arrive. because after point c) above, the levels are checked on every tick, adjusting them within TM as it needs.
Now, reverting to the process of what happens between tick 1 and tick 2. Remember, levels monitoring has not yet started. You establish a new potential trade with a combination of what TM does, with any tweaking of the levels by yourself (which you have assumed has been taken care of by TM), and finally this process is completed by you confirming the potential trade, via one or other of the messages you can get during this process.
So, you confirm the trade, and TM immediately undoes all the careful level placement you have done!
This is correct – it is how TM has been designed, and it has always been this way, but isn’t satisfactory,
So, I need to do something about this.
And I can.
What TM will do in the future, is at the point of acceptance of a potential trade, (and remember the trade actually looks good as you have already done all the levels adjustment you want to do), as soon as you press OK on the message, TM will re-capture all the new levels and update these internally, then run with these instead of the previously calculated levels.
TM will not only have to recognize the new levels (if there are any) but also check that they are in the right place (SL the opposite side of current price to TP1 and TP2, etc). This process in itself may well involve additional messages to get this right before the trade is confirmed.
but………..voila!
It’s a fair bit of work, but I understand it is essential prior to go live.
I love this guy!
Second trade of the day was a winner on the UK100. I was aware of the 7700 round number so when the first profit target was hit, I took a look at the price action and decided to close the rest rather tham waiting to see if price could push through.
It might well do, but its highly likely price will bounce around the level for a bit and could just as easily reject it and go lower.
Reason enough to close for a 1:1 profit on the trade.
Mark Rose
Another loss to start the day, getting a bit annoyed this keeps happening.
Especially as I missed a couple of winners earlier as I was having a lazy Monday morning.
It is possible I am too keen to have some trades open before going off to walk the dogs, so something I will keep an eye on.
Of course its just as likely that there is nothing off/wrong and these have just been a short run of starting the day with a loss. We have to be careful to keep things in perspective and not try to solve problems that don’t exist.
If you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
My last trade was a bad trade to take. I was being greedy after a good day.
It was getting late on a Friday afternoon, so I decided this was the moment to take a new trade and push out my profit targets to beyond 2:1 and 3:1.
Hard to hit at the best of times, even more so on a Friday afternoon (although we had had Non-Farm Employment Change earlier in the day).
Managed to extricate myself for a £50 win, could/should have been much worse.
Final tally for the day was a respectable £1132.61
Mark Rose
One of the advantages to only risking a small % of your pot per trade is if you get similar trades on correlated instruments, it’s not so bad if you take them.
This is the third trade i had on a JPY pair, this time CADJPY.
It’s pretty rare for me to take on three trades so similar and with the news at 3pm, it’s not surprising the the result was the same.
First profits taken at 1:1, rest closed at break even.
Mark Rose
EURJPY was the next trade to give me some profits. First part closed at 1:1 and then the second half closed at break even.
Mark Rose
Same thing with GBPJPY. My first profit target at 1;1 got hit, then price palled back to my stop at break even
Mark Rose
US 500 trade closed for a profit next.
This was a typical half close at 1:1 and the rest at 2:1 for a £467.13 profit
Mark Rose
Pushed my luck a little on this trade going for a little bit more than a 2:1 Reward to Risk profile and making back more than I had lost on my previous two trades.
You do have to question yourself about why you are making the decisions you make and I did, but I still liked this trade from a technical perspective and the profit target was picked from a technical standpoint and wasn’t a massive leap from what I would normally do.
A good decision in the end.
Mark Rose
Second trade of the days was just as bad, in fact just slightly worse, this time on the DAX.
Mark Rose
Today got off to a poor start. I’ve had a few days like this recently where I go underwater first. I guess nobody said it would easy.
I always find it interesting how trading affect the psyche and how important a roll it plays, even when following a rules based strategy.
First loss of the day was on USDJPY.
Not much to say other than it looked like a pretty good set up, but even the best set ups will go against you quite a lot of the time.
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Mark Rose
Just in case you were wondering why I closed my EURGBP trade early, rather than letting it run overnight.
The spread at 9.15 was appox 0.8 of a pip.
Now it is 13.7 pips.
It will settle down again, but this and the daily financing cost to roll trades is enough to make me want to close my position, normally by 9.30pm(ish).
Mark Rose
Over the years I’ve varied the percentage I risk on my trades.
Part of this was to do with margin rules changing, but also if I’m likely to be entering more trades per day, I will risk less on each.
At the moment I am risking 0.5% on most trades and this is the standard on the software.
In terms of margin, I could run one trade with a 2% risk or four trades with 0.5%.
In reality, it is unlikely I would have four trades open at a time, so could increase my risk.
I’m pointing this out as some of you might want to scalp and get into lots of trades.
Others may find that a bit frenetic and only look for one or two trades a day.
Both can be profitable and you may want to change the percentage you risk depending on the approach you take.
One final trade today on EURGBP.
I actually looked at the 1min and 5min charts, but didn’t get a trade set up until the 15min chart.
In the end I manually close this trade at 21:15 as it was going nowhere.
Another £194.22 added to my daily total which ended up as £850.39.
Mark Rose
This was a potential trade set up I liked the look of, so I dragged the trade Manager onto the chart waiting for the entry price to be hit.
However price went to the stop loss first.
This is enough for the trade manger to cancel the trade as it no longer stands as a valid set up.
Mark Rose
Here’s as good example of one of the improvements we have made to our EA that I think stands it ahead of most.
It’s also a warning of why trading around news is a dangerous game.
I got a notification of a potential trade on US30, so dragged our EA onto the chart waiting to see if a potential buy trade would set up.
I was aware of news at 1.15pm, so took the first screenshot below just prior. Note the normal spread of 2.7 pips.
At 1.15pm a trade did set up, but the spread widened to 19.7 pips.
Our EA warns you about this and then ask if you are really thinking about placing this trade!
It’s one of the fail safes we have built in.
On a standard trade without a news item coming up, I still set a maximum % the spread can be of the stop.
As standard this is set to 20% so a maximum 2 pip spread for a 10 pip stop.
This is adjustable in the settings if you want to increase or decrease it.
Mark Rose
Good and bad news on this trade.
I was testing something on the latest version of the EA and thought I was on the test account, I wasn’t!
The thing I was testing didn’t quite work as I wanted it to, so a little more work to do on that feature.
I did bag a profit of £251 for my trouble though. I came out of this trade early, just because it wasn’t a set up I would necessarily have taken if I’d not been testing. Probably should have left it to play out and am a little guilty of snatching at a profit.
Mark Rose
Whilst I was away over Xmas skiing, eating and drinking too much, my brilliant developer put in a big shift adding lots of small improvements to our EA. I’m now testing version 16.3.
All of the stuff we are doing now is small refinements that improve the durability of the EA in unusually circumstances and to make it more user friendly.
If I do say so myself, I think our EA will be one of the most technically able you could get.
This has been a collaboration of over 10 years and it’s this sort of perspective that has made the difference.
Most managing directors would be pulling their hair out at how long this has taken, I would very likely have been sacked if I was project managing this for somebody else.
But as I only report to myself and I’m not under that sort of pressure I have been able to take the time we needed to get it right.
So far today I have missed one trade on EURUSD that would have won (i would have needed to be really quick as only had a minute from getting the notification of a potential trade) and had one win on the CAC that made me £405.
I liked the CAC trade as I got the notification of the win whilst out walking the dogs, very satisfying!
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Mark Rose
Wasn’t planning to trade today and only popped into the office to clear up some emails.
10 minutes later I had £417.22!
This is definitely it now until the New Year. We are away skiing over Xmas so are having the big family Christmas dinner this afternoon.
Merry Christmas to you all.
Mark
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Mark Rose
In the end i did place a couple more trades this afternoon, both again giving me profits.
UK100 was a bit of a mess. I opened it and then almost immediately somehow managed to close it.
Got back in a bit later, first half closed at 1:1, rest closed at break even as price pulled back.
Profit was £242.20.
Second trade was on EURGBP. Closed half at 1:1 then manually closed the rest for a little under 1.5:1
Profit was £356.11.
This means i managed to sneak past a thousand pounds in profit today (£1001.76), I like getting to four figures.
Mark Rose
Christmas has now started in my house. Or at least it has now started for me.
Other members of the family, who should be old enough to know better, have already got way too excited about a festive tractor convoy and seem to have been watched Elf on a loop.
Today is the first day all our kids are home from school.
Middle son even had to contend with two GCSE mocks yesterday.
Now we are all home I think its ok to accept Christmas is upon us.
I have still been trading, but it was a late start and I’ll probably be stopping soon.
Both the trades I have taken have given me profits.
First trade was on the FTSE, I got a notification that half my trade had closed at 1:1 and when I looked I decided to close the second half as my second target at 2:1 looked a tougher ask.
Ended up closing both halves at about 1:1 for a £307.45 profit.
Second trade was on the DAX. I closed this one for just a £96 profit as I realised I probably shouldn’t have taken it in the first place.
It’s important to be aware of round numbers when you are trading as price can often bounce off of these, or get stuck in a range around them.
I had totally missed the round number at 13900 when I placed my DAX trade. When I did see price struggling with it, I decided to take the profits on offer.
Still a £403.45 profit on the day.
if you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
I like trades like this one.
Not from a technical point of view, but just because i placed it and then went off to do something else.
I’ve only come back to my pc when my phoned beeped to tell me my trade had hit the second profit target and made me £441 profit.
Nice!
Mark Rose
A bit if a lack luster end to the week.
I was able to trade from 7am to about 9.30am, but very little happened.
One trade did set up on the CAC that I should have taken, but I hesitated and it went away from me.
It of course went all the way to my 2:1 target.
I did manage one trade later on CADJPY that made it to the first profit target and then pulled back to my stop at break even, so a overall profit of £156.80.
So an ok week, I didn’t have any losing days, but no really big profits days either.
The final tally was £3368.02, which was 5.91% return on my fund for the week. I purposely didn’t trade any other strategies on my account this week, so everything you see here is a Bread and Butter Trade. More normally there will be quite a lot of other stuff I do mixed in with it.
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Mark Rose
My final trade for the day was another on the DAX, but this time a sell.
Made it to my first profit target and closed the second half at break even for £163.95 profit.
Overall profit on the day was £738.35, which is 1.23% of my account.
Mark Rose
Got back in with a sell on the CAC.
This was a pretty straight forward part close at the first profit target and the rest closing at the second profit target.
An overall profit of £440, which is 0.73% of my account.
Mark Rose
This one was a loss plain and simple.
It’s amazing when you look back and question why you opened it in the first place.
A loss of £340.93, which is 0.56% of my account.
Mark Rose
I was a bit lucky on this US500 buy trade. I actually meant to cancel it, but opened it in error.
I still managed a profit of £362.78, so happy with that.
Mark Rose
A 2 hour and 20 minute round trip to get my son to college this morning meant another late start for me.
I could really do with him passing his driving test before I launch B&B.
I did get off to a winning start with a buy on the DAX, at least to the first profit target.
Moved my stop up, which got hit on the second half at break even. This time this worked in my favour as price carried on and would have taken out my original stop, meaning moving my stop to break even saved me some profits. A simple 1:1 trade would have done better though.
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Mark Rose
I had quite a wait for my next trade.
Some things did set up, but were never quite good enough for me to want to take.
It was over three hours before I opened another trade, I would have opened two, but on one when I came to look at it, price had already moved past my entry and didn’t come back.
I try to never chase trades, if I miss it, then I might wait to see if price pulls back, if not I leave it.
The trade I did take was a sell on the DAX at 16:10pm.
After entering I decided not to part close at my first profit target, but I did move my stop to break even.
This worked well as price went to my profit target making me £637.05, which is 1.1% of my account.
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Mark Rose
My last trade was a buy on GBPUSD.
I liked this trade as I managed to place it before having to run out the door to go and collect my son from the train station.
By the time i got back it had already hit both my profit targets for an overall profit of £445.21 (0.77% of my account).
Day ended up £787.48, which is 1.36% of my account.
Mark Rose
The trade that ran away from me was this sell on the US 500. Price was already beyond the entry price (black line) and heading to my first profit target (blue line). I waited to see if it would come back, but it didn’t.
I thought this might be useful to show you as it has the trade confirmation box on it.
B&B doesn’t auto trade your account, you always have control of the trades you want to take.
Firstly the potential trade is painted onto the chart and then once you have decided you want to place it, you just click “ok” on the trade confirmation box. If not you cancel it.
Mark Rose
I went to the pub last night to do the quiz.
For the first time in a long time our team won, so we celebrated.
As normal this morning, I got up at 6:30am to check for Heikin Ashi Mountain trades (there wasn’t any) and sent out the daily update to the members.
I would usually then concentrate on B&B, but instead I pottered about, drank coffee and took the dogs for a nice long walk.
I think it’s this stuff that I like the most about being my own boss/a trader. I like money for sure, but quality of life is as much, if not more of the draw for me.
I checked the charts when I got back and could see a couple of trades that would at least have made it to my first profit target, I’ve often wondered how much the dog walks cost me in unrealised profits.
I’m sure it would make financial sense to pay a dog walker, but this morning was a beautiful, sunny, cold morning and a perfect antidote to last night’s frivolity.
I did finally get back to my charts and found a GBPUSD buy at 11.01am
Yesterday I had a trade hit my first profit target in 3 minutes.
Today I had a trade hit a full loss in 3minutes. losing me £294.78, which is about 0.5% of my account.
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Mark Rose
This one was a bit more like it. I part closed half at the 1:1 profit target, moved my stop to break even and then pushed out my second profit target to 3:1, which was just hit.
First part won £151.06 and the second part £435.89.
I have been watching trades today as I wanted to screenshot them so I could share them here.
More normally I walk away and get on with something else. Watching them has probably added to my frustration as I have seen the ins and outs, rather than just the net results.
five trades, all at least part winning is a good day.
if you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
This trade was on the UK100.
First half closed in three minutes, which was great.
Then price pulled back and took me out of the second half at break even, before once again going on to my 2:1 profit target.
Today was definitely a day not to be moving my stop to break even, but I still manged to make £1107.17, which is 1.91%, so happy enough with that.
if you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
It’s been a bit of a funny day today.
I’m making profit and still have a trade open that’s looking good, but can’t help feeling a bit disappointed.
On this EURGBP buy trade i closed 25% of the trade at the first profit target, as I wanted to show you that the % closed can be amended to whatever you prefer (set at 50% as the norm).
So of course this trade hit the first profit target and part closed for a 0.125% gain and then pulled back to my stop at break even before turning tail and heading to my second profit target.
To add insult my stop loss at break even was only just touched.
I’ve mentioned before that moving the stop loss to break even is a bit arbitrary and maybe not the best placement from a technical point of view and I think this was the case here.
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Mark Rose
I’ve taken two trades this morning. Both made it to my first profit target, both then pulled back to my stop loss that I had moved to break even and took me out.
One trade (sell on the CAC) then turned tail and went to my second profit target, so I could have made more.
The other (buy on AUDJPY) carried on moving against me and would have hit my original stop, meaning a profitable overall trade would have become a break even trade – if I hadn’t moved my stop to break even.
Still not sure if I prefer a break even trade and a bigger win, or the safety of two half trade wins.
From a purely financial point of view and based on just these two trades, I would have made more if I hadn’t moved my stops to break even.
CAC trade would have made 0.75%, where I actually only made 0.25%
AUDJPY would have made zero when I actually made 0.25%
So across the two I made 0.5% where not moving my stop would have made 0.75%.
Moving stops to break even guarantees profits, which is a really nice feeling, but does comes at the cost of often knowing you could have made more.
Of course two trades isn’t enough to make any sort of conclusion from and your personal attitude to risk should be a large part of which method you employ.
You might even prefer to go for a simple 1:1 which would have made you 1% (risk on both trades is 0.5%).
Truth is you will probably use a combination of methods.
Any which way up its been a profitable morning making me £447.55, so a nice problem to have.
if you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
Bit late to it this morning as it was my turn to walk the dogs.
My plan this week is to try to record every trade I take to give you a bit of an idea the process, warts and all.
I cannot commit to being in front of my pc 24/7, but hopefully I will be able to give you a pretty good example of a typical trading week.
Very glad to report a nice start to the week.
I moved both my profit targets out a little as by looking left (and using some TA I have on my charts) I thought price might be drawn to these levels.
£578.22 combined trade profit for a £287.50 initial risk, so just slightly better than 2:1 Reward to Risk ratio.
Price has since carried on moving higher and is now making new highs, so I could have pushed my targets further, but very happy with what I got.
1.13% returned on a 0.5% risk.
if you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Regards,
Mark
Mark Rose
The B&B software has to come with some standard setting, so I have used the most risk adverse option.
Not because this is the way I would necessarily place my trades, but because it is a pretty good place for you guys to start.
What I mean by this is I am closing half of my profit at 1:1 Reward to Risk and move my stop loss to break even on the second half of the trade as this aims for a 2:1 Reward to Risk.
There are two issues with this.
By part closing you reduce the potential profit you could make if price does hit the 2:1 Reward to risk level.
By moving your stop loss to break even, you increase the potential for this to be hit. Partly because it is now closer to the current price and secondly as break even might be a pretty arbitrary price and not the best level for a stop from a technical point of view.
The other thing I have noticed is because these are the default settings, I am using them.
My buy trade this morning on the DAX is a good example of how this cost me some profits.
I part closed at 1:1 for a profit of £148.50, then price pulled back to my stop now at break even(ish) for a loss of -£9.90, so a profit of £138.60 overall on this trade.
If I hadn’t moved my stop I would have made a profit of £445.50.
If I hadn’t part closed or moved my stop, I would have made a profit of £594.00
Of course there are also plenty of trades that pull back all the way to my original stop that would mean a break even trade overall (if I hadn’t moved the stop to break even). First half making a profit and second half making a similar sized loss.
I prefer pushing for a bit more profit and was a bit frustrated with myself on this trade, especially as price just touched the break even stop before reversing. Don’t get me wrong, a profit is good and protecting your capital is a priority, but bigger profits are just more fun!
if you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
Mark Rose
Sorry to have gone a bit quiet on here,
I’ve added an additional input into the software which allows us to filter the signals a bit more.
Without the inputs and depending on the time frame you like to trade, there could be a lot of signals.
Using the input reduces the number of potential signals you have to work through, which when new to the strategy is probably a good thing.
Personally I can eyeball the potential trade signals quickly, but I have been trading B&B for a long time and wanted a way to help you guys filter signals whilst you get used to using the strategy.
I’ve worked hard to make B&B customizable, so that anybody can apply it in the way they want to. Realistically you can trade anything from a 1min chart to a 4 hour chart, across as many or as few instruments as you like.
As I trade Heikin Ashi Mountain and HAVTrading as my mid and longer term strategies, I tend to use B&B as a scalping/shorter term trading system and am out of most trades within a hour or two. If you prefer to hold trades for a few day, looking for bigger moves, then B&B can accommodate this by using longer term charts. You will likely see fewer signals, but these signals will have bigger profit targets on them, so swings and roundabouts.
Anyway, I thought you would like to see my results from today. Things started out badly, but then got much better and has ended up being another good day.
As ever, if you want to see a larger version of the image, right click on it and choose “Open image in new tab” from the drop down menu.
The first trade I took was a sell on USDJPY at 8.15am, which lost -£310.80 which is about 0.6% of my account
I backed this up with a second loss on a UK100 buy trade I opened at 8.16am, which -£326.48 which is about 0.64%.
To make things worse I listened to my gremlins and stayed out of a couple of potential trades, which of course would have won if I had taken them.
I got back into a D40 (DAX) buy trade at 8.46, which went on to win both halves for a profit of £411.60, which is 0.81% of my account.
At the same time I took a buy trade on F40 (CAC) which also went on to win both halves for a profit of £394.31, which is 0.77% of my account.
Next trade I went into another USDJPY sell trade at 9.50am, which won the first half of the trade and came out of the remainder at break even making £132.65, which is 0.26% of my account.
At 10.16 I got into a USDCHF buy trade which won both halves of the trade for a £459.43 profit, which is 0.92% of my account.
At 10.19 I took a GBPUSD sell which also won both halves for a profit of £451.04, which is 0.88% of my account.
My last trade of this morning was a buy on US30 at 11.15am. This trade hit the first profit target and came out of the second half at break even for a £145.74 profit, which is 0.28% of my account.
So a very solid mornings profit of £1367.49, which is 2.68% of my account.
Regards,
Mark
Mark Rose
I’ve been back on Bread and Butter Trader this week and things are moving forward.
The software is pretty much finalised and working as expected. I am now embroiled in recording some videos on how to install and use the software.
These will be both about how to get set up and also the strategy behind the software. I want there to be a connection between education and the simplicity of having the software to do the identifying/calculations for you.
One slight change I have made is I have reduced the percentage risk to half a percent as standard. We have to have some standard settings on the software and I think it sensible to keep these quite conservative, you can of course adjust these as you see fit, but I have to start with something.
It is possible to use up to two percent of your bank per trade and if you look back this is what I initially set out using. I have also often used 1%.
If using 2% then because of margin requirements, I can only run one trade at a time.
The software does look at margin requirements and if I tried to open a trade where I could run into margin issues, it recalculates the stake size and asks you if you still want to go ahead at the reduced stake.
If your stake was £5 and the software is offering £4.50, you’ll probably say yes, but if it’s offering 50p, then there’s not much point in taking the trade.
I do still have quite a lot of work to do with recording videos and I’ll admit it doesn’t come that easily for me, but I am working my way through them and getting quite excited about it all.
Anyway, I did screenshot a trade today, which came within a whisker of getting stopped out, before going on to a profit. Just to show you that it does happen!
Entered at 12.23, trade pulled back to 0.9 of a pip from my stop.
It them got held up 0.1 of a pip from my first profit target
In the end price pulled back and took the second half of my trade at breakeven. The eagle eyed among you might also be able to see the trade at 9.30am that did a similar thing. (Right click and “open image in a new tab” if like me you are struggling to see the detail of the image).
Mark Rose
Some live trading I wanted to share with you from this week. You’ll see the Bread and Butter Trade Manager at work here, taking a very quick and easy +1.5% gain!
Mark Rose
Back from my summer holiday and testing the software again.
I was sent a new version to fix a small bug, but crossed wires has meant that the new version didn’t solve the issue, so still waiting on this.
To be honest, I very much doubt anybody other than me would notice, but we might as well fix the bug before we make the software available.
In the meantime here is a nice set up identified by the software on EURGBP this morning.
How B&B works is it looks at a time frame of your choosing for a set up. Theoretically, you could look at a 1 min chart and be inundated with trade signals, or alternatively you could look at 4 hour charts and get very few.
The idea here is you can mold the software to fit in with you and your goals. There is absolutely no point getting sent thousands of signals, if you can’t react to them and do not want to be glued to your screens. Somewhere between 1 min and 4 hours, you will be able to find a happy mid ground that fits in with you and your approach to trading.
To complicate things a bit more I often flit about between time frames, depending on how available I am going to be.
This trade was a set up identified by the software at 8.30am on the 15min time frame.
Once the software has sent the alert to my phone, I will check the charts. Even though the alert was sent based on the 15 min time frame, it is unlikely this is the time frame I will trade.
You could, but I like to shorten in to a lower time frame and look for a quicker entry. Sometimes waiting can see a chunk of the move happen before you get in, by checking the lower time frames, i will normally get in faster.
The potential trade alerts are based on standard technical analysis, this is the bit that I’m afraid I can’t reveal here as it is the backbone of the strategy, but I use up to 6 technical analysis tools to help identify potential turning points.
Once identified, the context in which they occur is important (this is a bit that many systems miss) and is where i think completely automated software falls down. So I check the alert to see if I like the potential trade. If I do, I drag the trade manager onto the chart and leave it to trigger and manage the position for me.
It’s a blend of using software to do the heavy lifting, but still enabling the individual to make the decision. Remember, originally B&B was a book and we did all the work, which could involve a lot of screen watching.
Thankfully, things have improved since then, but the software is there to help us, not replace us.
Anyway, back to this mornings trade. This is the trade manager dragged onto the 1min chart, to show the potential sell trade.
Price hovered around the entry price for about 15 mins, so plenty of time to get into this one.
Price then moved down to TP1 and the stop moved to break even. In retrospect, with a stop of only 7.3 pips, it was probably a mistake to allow the trade manger to move the stop to break even. 7.3 pips isn’t allowing the trade much of a chance to breath.
Luckily, it didn’t matter. It took awhile, but TP2 was also hit.
Risk 1%
First half of the trade closed for 0.5% profit.
Second half closed for 1% profit.
Overall profit on the trade 1.5%
Mark Rose
All the examples I have shown recently have hit the second take profit level, which is a little misleading.
Moving the stop to break even when price has hit the first profit target does make it more likely that the stop will be hit, so this will often happen too.
Moving the stop protects the profits you have made, but can also cost you potential profit, if it get touched.
Potential Buy signal on a 5min chart received at 9.15am.
Entry level hit 20 minutes later.
The first take profit was hit and stop moved to break even
Price reversed to the new stop taking the second half of the trade out at break even.
Risk 1%
First half of the trade closed for 0.5% profit.
Second half closed for 0% profit.
Overall profit on the trade 0.5%
It would have taken some time, but if the stop wasn’t moved to break even price would have reached the second profit target (just). In this instance protecting my profit by moving my stop to break even has cost 1% profit.
Mark Rose
A nice one minute Buy trade set up on EURUSD at 1pm using the B&B software.
The way the software works is i get an alert to my phone telling me about a potential trade.
I then take a look at the chart on my MT4 account and if I like the look of the trade I drag a Trade Manger onto the chart. This then takes over monitoring the trade being entered and the two (or one depending on your preference) take profit levels and the stop loss. The trade is then totally hands off, the Trade Manger looks after the trade until completion.
This is not to say you can’t tamper with it if you want to, you just don’t have to. You can move the stop loss or profit targets to wherever you want them and choose to part close the trade or not, so plenty of flexibility.
Potential trade alert received to my phone at 1pm.
If you are wondering what the light blue boxes are, these represent 15 minute periods. I have the software set up to check for potential trades every 15 minutes, you could change this is any other time frame you prefer.
Price bumbled along at around the entry price for about the next 15 minutes.
First take profit hit, stop moved to break even.
Second take profit hit.
Risk 1%
First half of the trade closed for 0.5% profit.
Second half closed for 1% profit.
Overall profit on the trade 1.5%
Mark Rose
I find it hard to believe I have been posting on this page since 2013 and can see a comment about a potential EA as far back as 2015.
Time flies when you’re having fun (A Janet Jackson song from the late 80’s, if I remember correctly – loved Janet Jackson when I was younger!)
Sorry about the trip down memory lane, back to some trades from today.
Buy trade set up on a 1min chart at 3.45pm.
You would need to have been very fast to get into this trade as just two minutes after the alert, the entry price is hit. Unless you are at your PC with MT4 open, I think the reality is you a very unlikely to have got into this trade. You could also have taken this trade on a five minute chart, but unusually, you still would only have had two minutes to drag the trade manager onto the chart and say “yes” to the trade. Possible to do if you are fast, but in reality, unlikely.
The trade didn’t last long in any case and another one only just touching the stop before reversing.
Another loss of 1%.
Got another Buy signal on GBPUSD at 5pm. This time on a five minute chart, but you could have taken it on a one minute chart, or even a fifteen minute chart and come out with a win.
This time you would have had six minutes to drag the trade manager onto the chart and say “yes” to the trade. If you missed that then on a fifteen minute chart, you would have had over thirty minutes. Horses for courses really. The thing about longer time-frames is it tend to mean the market has moved more, leaving you needing a larger move to get to your profit targets.
This trade worked out a bit better than the earlier GBPUSD trade hitting the first profit target. Software would then move the stop loss to break even (if this is what you wanted it to do).
Also went on to hit the second profit target. Glad about this as it was just prior to the US fed putting up interest rates, so glad to be out of the market before this happened (although looking at it, it could have worked out very well for the trade)
Risk 1%
First half of the trade closed for 0.5% profit.
Second half closed for 1% profit.
Overall profit on the trade 1.5%
Mark Rose
Only had to wait a few minutes for another Sell set up on AUDUSD, this time on a 15min chart.
Signal of a potential 15min chart Sell trade on AUDUSD sent to my phone at 10.45am
Trade entry at 11.23am
This time the stop loss just holds and price revesese without hitting the stop.
First profit target hit, software closes half the trade and moves the stop loss to break even.
Second profit target hit.
1% Risked on Trade.
0.5% Profit at first profit target.
1% Profit at second profit target.
1.5% Overall profit on this trade.
Mark Rose
This was a cruel trade, but they happen and we have to be able to accept a loss, even one as annoying as this, as part of the process.
Really nice Sell AUDUSD set up on a 5min chart at 10.30am.
Entry price just touched as the low.
Price reversed and just touched my stop.
1% loss on trade.
Mark Rose
Here’s a buy trade that set up on the 15min time frame, so not quite such a rush as the last trade i posted.
Alert of a potential trade sent at 11.15am.
Trade entry hit at 11.49, so 34 minutes between getting the signal to your phone and the trade being entered.
First profit target hit and stop moved to break even. You don’t have to part close or move the stop at the first profit target, if you do not want to, you could not part close, or not move the stop, or do neither as the software has been built so you can trade as you want to.
Second profit target hit.
1% risked.
0.5% profit at 1st profit target.
1% profit at 2nd profit target.
Overall profit 1.5%
Mark Rose
I know I’ve been quite posting B&B trades on here. This was intentional as we had some more work to do on the software that I wanted to get done.
We are almost there now, and the software is even better than it was before, which if I do say so myself, was already damn good.
So I am going to start posting some trades again.
These will be a bit hit and miss as I work around holidays, but I wanted to get started again as I’m pretty exited and keen to show people.
So here is a trade on USDCHF that was identified by the software at 8.45am this morning.
Stop loss is the red line
Entry is the black line
1st blue line is take profit one
2nd blue line is take profit two
Six minutes after the alert to my phone telling me there was a potential buy, the trade was triggered, so you would need to be fairly quick to have got into this one on a 1min chart. If this is too fast for you, then you could also look at trading a 5 min chart or longer, I have worked hard to make the software a flexible as possible, so it works for you, not you for it.
Then it’s just a matter of leaving the software to manage the trade for us, in this instance I am looking to part close 50% of the trade at the first profit target and leaving the other 50% to hopefully run to the 2nd profit target.
When the first profit target is hit the software automatically moved the stop loss to break even. This guaranteed me a profitable trade as at worst I would make a profit on the first half of the trade and break even on the 2nd half.
As hoped, price carried on to the profit target, closing the 2nd half of the trade out and giving a nice profit.
Risk on the trade 1%
Half closed at 1:1 for 0.5% profit
Half closed at 12:1 for 1% profit.
Overall profit 1.5%
Mark Rose
Back from my holiday and raring to get going again with B&B.
I’m expecting to get version 12.4 of the software sometime this week, but for now, I’m still testing version 12.3 and it’s working well.
This EURGBP trade was a nice one to get started with. I received the alert to my mobile phone at 9.30am and the trade was triggered at 9.50am, so plenty of time to get to my pc and drag the software onto the chart.
As the stop was only 6.3 points away and I could see an area of earlier support about 12 pips below my entry, I decided to trade this as a simple 2:1 Reward to Risk trade. No tightening stops or moving the stop loss up.
Just 25 min later the 2:1 profit limit was reached for a quick and simple profit.
Mark Rose
This mornings UK100 trade is very similar to yesterday’s trade posted below, but this time the trading gods we on my side.
As yesterday the stop is tight, this time just 6.1 pips with a 1.1 pip spread and again, like yesterday, I have decided to go for a traditional 2;1 reward to risk ratio.
6.1 pip stop and a 12.2 point profit target.
As the stop is so tight (just 5 pips when you take the 1.1 spread into account), I am not moving my stop loss up to breakeven, as I want to have a bit more room for the trade breath.
I like this trade as the entry price is just above 7000, which is undoubtedly a key level, the stop is tucked just below it and profit target is just within the levels from yesterday/this morning.
5 minutes after the alert, the buy trade triggered.
The 2:1 profit target was right at the upper range of the recent price action and it looked like my level was a bit too high.
Price did though poke its head through th profit limit, before quickly reversing all the way back to the stop loss level.
Mark Rose
Some times the trading gods are against you. The first of two trades here, just managed to hit the entry level, before reversing to the stop loss for a 1% loss.
One of the good things about using a bit of software is your broker does not know your entry level, stop or profit limits, so at least you know they aren’t deliberately touching you in.
Not to worry though as 15 minutes later there was another potential trade set up.
Trade was triggered 1 min later, so admittedly you would need to have been quick to get into the 1minute trade, but if that was too fast you could also have entered on a 5 minute chart, which would have given you a bit more time to get sorted.
Price then went up to the first take profit, on this occasion you would be best served by not part closing, but moving the stop loss to the open price. This means your worst result is breakeven.
The US 500 continued moving up hitting the second take profit level just 10 minutes later for a 2% profit, for each 1% risked.
Mark Rose
I’m probably guilty of showing too many trades where the software is set up to part close half the trade at take profit one and also move the stop loss up to breakeven.
As I have said before, this is the most defensive way to trade the strategy and is used as the default setting because of this and because something has to be.
It is not necessarily the best approach and it is likely you will use a combination of the options available, rather than sticking to just one.
In the example below I have used a straight forward reward to risk ratio of 2:1, with no part closing or moving the stop loss up.
My logic here was that the stop distance is quite tight at 7.5 pips and the spread of 1.5 pips equates to 20% of the stop/take profit one levels ( set as standard at 1:1).
This can often be an issue when taking scalping types of trades and something to watch out for – the software will warn you if the spread is more than 25% of your stop loss distance and this can be changed to any figure you prefer.
By using a reward to risk ratio of 2:1 our profit target is 15 pips, making the 1.5 pip spread 10% of the potential gain (but still 20% of our potential loss).
Still not ideal as it makes the true stop distance only 6 pips, which is tight, but it does mean you are only looking for the market to move 10% past your profit target (15+1.5=16.5 pips to a 1:1).
I just want to make this point again, when taking a 1:1 reward to risk trade with a 7.5 pip stop and a 1.5 pips spread, by the time you have taken the spread into account, you are actually placing a trade with a 6 pip stop and a 9 pip profit target.
This is part of the reason why scalping isn’t as easy as it is often portrayed to be. Spread/slippage on your entry can have a significant effect on the statistical probability of your trade winning.
As in the previous two example, the software has identified a series of three potential buy trades. The first two aren’t triggered as price hits the stop loss level and the potential trade is canceled.
On the third attempt, the trade is triggered.
Price then carries on moving up to the take profit level at 2:1, so if you risked £100 on this trade, you would have made a £200 profit.
Mark Rose
Similarly to the trade below, there were three potential sell trade set ups, but the first two were not triggered as price continued to move higher.
On the third attempt the sell entry was hit.
Price moved through the first profit target, closing half the trade for a 0.5% profit and moving the stop loss to breakeven.
Although it may not look like it on the chart, price then pulled back to the breakeven stop loss level and closed the second half of the trade out.
On the chart it looks like price was just below the stop loss level, but the chart is based on the sell price and to close a sell trade we use the buy price. When we add the spread onto the sell price on the chart, this was just enough to trigger the stop loss.
Price then of course carried on down to the take profit two level.
By tightening the stop loss, you increase the chance of it being hit and sometimes this will work against you. It does however protect the profit you have already made.
Regards,
Mark
Mark Rose
This trade set up on most of the major indices this morning. You can often see this as markets tend to work in correlation with one another.
There were a series of three signals for a sell trade, but the first two didn’t trigger as price moved higher and never touched the entry prices.
When a potential trade is placed, if the stop level is touched before the entry price, then this nullifies the trade and the software removes it and goes back to looking for a new set up.
Finally on the third attempt the entry price was hit.
Price then moved down to the first take profit level, closing half the trade for a 0.5% profit and moving the stop loss to breakeven.
Price did then pull back, but didn’t quite touch the breakeven stop loss before selling off again and going to take profit two for a total 1.5% profit based on a 1% initial risk.
Mark Rose
Version 12.1 of the software delivered over the weekend, with version 12.2 already in the pipeline.
It’s a bit frustrating at the moment to be honest, but each step is a step closer and the software still works well, just not as well as I want it to.
Nice trade on EURGBP this morning. The software alerted on a potential trade at 7:45am.
The trade was triggered 15 minutes later, so plenty of time to take a look and drag the trade manager software onto the chart.
5 minutes later price went through the fist take profit level, this closes half the trade for a 0.5% return and brings the stop loss to breakeven. Trading this way will pretty much guarantee you a profit on this trade (unless you suffered some significant slippage, which is very rare), so some traders like to use it.
If you are a bit more adventurous instead of taking profits you could just move the stop to breakeven. This protects you from a loss, but doesn’t guarantee at least a 0.5% profit, but does give you the potential for even greater returns if the take profit two level is reached.
Another 5 minutes later and the second take profit level was hit. This makes a 1% return meaning a 1.5% return on the whole trade if you part closed at take profit one.
If you didn’t part close, you would make 2% on this trade (initial risk was 1%, so a Reward to Risk ratio of 2:1).
Regards,
Mark
Mark Rose
Now up to Version 12.0 of the software.
All the recent changes have been background features and spotting of a few small bugs.
Definitely all going in the right direction and all the major hurdles have been overcome.
Had a good example on AUDUSD this morning of where tightening the stop loss to break even after the first profit target was hit has worked against me.
Trade would have made 1.5%, rather than 0.5%, if the stop was left at the original level.
Regards,
Mark
Mark Rose
For a bit of balance and following on from my post below, here is an example of where tightening in my stop/part closing my trade worked in my favour.
I was notified of a potential sell on GBPUSD and dragged the software onto a 1min chart.
You would need to have been quick to get into this one as just a minute later the entry price was reached.
Price then quickly moved to the first profit target and the software closed half the trade and moved my stop loss to breakeven. As long as I don’t suffer any excessive slippage on the trade (which is unusual) then I am guaranteed to make 0.5% profit on this trade for my 1% risked.
If price carries on to the second profit target I will make an additional 1% profit, meaning 1.5% profit overall for my 1% risked.
On this occasion, price didn’t make it to my second profit target, instead it reversed and closed the second half of my trade at breakeven, meaning a 0.5% profit on the trade.
Moving the stop to breakeven was the correct decision as price would have continued up to my original stop loss if I had not tightened it.
If I had left my stop at the original level, the second half of my trade would have lost 0.5%, meaning a breakeven trade overall.
Not a disaster, but not as good as the 0.5% made by moving my stop loss up.
The thing to consider here is the potential gain by not moving my stop is an additional 1% profit, where the potential risk of not moving my stop is -0.5%.
Regards,
Mark
Mark Rose
Things have been hotting up with B&B this week, with three versions of the software delivered.
These updates are all to do with the virtual candles you now see highlighted on the chart.
To explain these a bit.
I’m being notified of a potential turning point based on the 15min chart.
In the main, the idea here is to find an opportunity to get back into a trend on a pullback, although I do also get notified of potential turning points against the trend and will sometimes take these if I like everything else about the set up.
Once I’ve been notified of a potential turning point based on the 15min chart, I will take a look a shorter timeframes (1min and 5min) to see if I can get a quicker entry and more often than not I do.
The highlighted area you now see on the charts is a visual representation on the longer-term candle used to identify the potential turning point in the first place.
These still aren’t quite perfect, but we are 95% of the way there.
In this case I used a 15min chart to identify the potential trade, but used a 1min chart to identify a quick entry, so on the chart the highlighted area is the 15no 1min candles that represent the 15 min candle.
As default with B&B, once the first take profit limit has been hit, the software closes half your trade and moves the stop to breakeven.
This is quite a defensive approach and often not the one I use, but as the most defensive option I use it as the default in the software (because something has to be) and I tweak it from there.
For example I may not close half of my trade, but just move the stop up, or I will close half and not move the stop.
This trade is a good example of how being a bit too defensive worked against me.
About 13mins after I had the alert to my phone, the buy trade was triggered. once I have dragged the software onto the chart, this all happens automatically, so i don’t have to sit at my screen watching it.
Once my first take profit level was hit, half my trade closed (making 0.5%) and my stop loss moved up to breakeven, meaning I would come out with a 0.5% profit if price pulled back to my new stop, or 1.5% if price moved up to my second profit target.
Unfortunately price moved down to take the second half of my trade out at breakeven. Still a profitable trade and I reduced the risk of taking a loss by doing it this way…
The risk with tightening in stops is you increase the chances of them being hit and this is what happened, before the trend resumed and went on to my second profit target.
So being defensive meant I was guaranteed to make a 0.5% profit on this trade, but also meant I missed out on an extra 1% of profits.
Attitudes to risk a very personal thing and an individual journey, with each of us starting and finishing at different points.
It’s not as easy as which has the best/worst performance.
We need to consider draw-downs and/or reduced profit potential. For many traders protecting their pot is everything, when others are more comfortable taking losses, in the knowledge they have the potential for greater returns.
And very often it is a combination of both, depending on the circumstances.
This is why I have purposely built in several options into the software, plus given the user the ability to alter the risk reward ratios and the % to close at the two take profit levels.
Regards,
Mark
Mark Rose
Version 11.3 didn’t last for long, after a small bug detected so now on version 11.4.
Below are a few trades I’ve spotted this morning, probably not going to be able to trade much this afternoon.
EURUSD set up on a 15min chart at 7am with a pullback into a longerterm up trend. This is the sort of thing I typically look for when trading the B&B strategy.
I will trade against the trend sometimes, but in the main I like to see a pullback into a longerterm trend.
After getting the alert to my phone, I opened up a 1min chart and dragged the B&B software on to it. It drew in the stop loss, entry price and the normal two profit targets.
It took over 30min for the entry price to get hit, which is unusual for a 1min trade. Normally you need to be quite quick if you want to trade 1min trades. The good news is you don’t need to sit there watching your chart. If price moves to the entry price or stop loss, you will get another message to your phone informing you.
Price made it to the first take profit level, so half the trade was closed for a 0.5% profit and the stop loss moved up to breakeven. I’m now guaranteed (apart from the possible risk of slippage) to make at least 0.5% profit on this trade. If my second take profit limit is hit, then this will make an additional 1% profit.
Unfortunately price reversed to my stop loss at the breakeven level, meaning I came out all square on the second half of the trade, and ended up with a 0.5% return on the 1% risked
My second set up is an example of a potential trade that doesn’t get triggered, this can happen if price continues to move against my set up and takes out the stop loss. As before I have dragged the B&B software onto a 1min chart and it has identified a potential trade for me.
This time the stop loss is hit rather than the entry price. I get a message telling me the trade is void and close down the B&B software.
Final example is another trade on EURJPY.
This time the B&B software has identified a pullback into an uptrend at 11am on the 15min timeframe (shown as a green upcandle bottom right of the screen).
I didn’t take a screenshot prior to the trade being entered, so instead this is a screenshot about 30 mins or so later, where price has pretty much gone sideways since the trade was entered.
Price then moves up to the first profit take, closing 50% of the trade for a 0.5% profit and moving the stop loss up to breakeven, so another guaranteed profitable trade.
This time price continues up to my second profit target closing the remaining 50% of my trade for an additional 1% profit.
Mark Rose
Another week and another new version of the B&B software. Now on version 11.3.
A straight forward trade set up on USTec. Dragged the software onto the chart and it picked up a potential trade based on the 10.30am 15min candle.
Trade was triggered
1st profit limit hit. Half the trade closed an the stop loss moved to breakeven.
Second profit limit hit and trade closed
Mark Rose
Version 11.2 delivered this week with a bit of a visual update.
I like to use a longer timeframe validation when trading B&B.
All this means is I look for a set up on a longer timeframe chart, but then look at shorter timeframe to identify a quicker entry.
In this case I was looking at a 15min chart (see green candle bottom left of the screenshots) and once I identified a potential signal I shortened in to look at a 1 min chart to find a quick entry.
Equally, I could have been looking at a 4 hour chart and shortened in to a 15 min, it’s all about finding the set ups that I like the look of.
The latest 11.2 version of the software now highlights the shorter term candles that are within the longer-term timeframe I have used to identify the potential trade.
I’m hoping this will be a good visual aid.
In this case I had a potential buy trade set up based on the 15min 8:45/9:00am candle, but this didn’t get triggered as price moved lower.
I then had a second potential buy trade set up based on the 15min 9:00/9:15am candle that did get triggered.
At 9.15am I received an alert of a potential trade and dragged the software onto the 1min chart to identify the potential trade.
You would need to be quick to place this trade as you would only have 2 or 3 minutes before price moved beyond the entry price.
If you miss it you can switch to a longer timeframe to see if you like the look of any potential set up on that instead. Trading a 5min chart would have given you a bit longer and would have been a winning trade too.
Price went quickly up to the first profit target, taking half the profits and moving the stop loss to breakeven, this is now a risk free trade.
Second profit target hit, for 1.5% return on a 1% initial risk on the trade.
Mark Rose
Two pull backs in this up trend gave a couple of opportunities to trade the US500.
One at 8.15am and the other at 10.30am.
First trade set up at 8.15am on the 1min chart.
You did need to be quite quick to get into this trade based on a 1min chart as the entry price was triggered just two minutes later, but if you missed it, there was still a winning trade you could have taken based on a 5min chart.
Another quick trade with the first take profit hit seven mins later. Stop loss moved up to breakeven, making this now a risk-free trade.
Took all of another 3 mins for take profit 2 to be hit returning either 1.5% or 2% per 1% risked, depending on if you chose to part close at take profit 1.
Second trade came along not long after on a 5min chart.
This one didn’t set up on a 1min, so the 5min chart was the shortest period it was possible to take the trade on.
Price moved up to take profit 1 and again the software moves the stop to breakeven to make this a risk free trade.
And then on to take profit 2 for another 1.5% or 2% return per 1% risked, depending on if you decide to part close at take profit one.
Mark Rose
Apologies that its been a while since I posted on here, progress went a bit sideways as attested by the fact that my last post shows me using version 9.2 of the software and I am now using version 10.9.
I only received version 10.9 over the weekend and so have a lot of testing to do in front of me, but I thought it would be good to post an example of a winning trade picked up by the software this morning.
What I’m mostly looking for when using B&B is a pullback in a longer term trend. This gives me the opportunity to get back into the trend looking for it to retest recent support/resistance.
In this instance I spotted a pullback to an up trend on the 15min chart and chose to shorten in for a quicker entry by using a 1 min chart. The B&B software pinged a message to my phone at 8:15am alerting me of a potential trade set up, so I went to my account and dragged the B&B software onto a 1min chart of EURUSD.
The little green arrow, bottom right is telling me there is a up trend on the 15min timeframe (you can adjust this to look at whatever timeframe you prefer) and the B&B software has drawn in the stop loss, the potential entry price and two potential profit limits.
My second screenshot shows you the entry price being hit. As you can see I’m scalping here, with a stop loss of just 5.4 pips. If you choose to shorten in to a 1min chart, then the likelihood is that your stop loss and therefore profit limits will be quite small, but it’s also possible to use longer chart time frames, with correspondingly larger stop loss distances. This is one of the bits I have worked quite hard at, so that you can use the software in a way that compliments your style of trading.
My third screenshot is of take profit 1 being hit (Risk 1:1 Reward). You can choose to take partial profits here (set to 50% as standard, but can be amended to a % of your choice) if you want and/or to move your stop loss up to break even. I allowed the B&B software to move my stop loss to break even, which in hindsight was probably a mistake, as a 5.4 stop loss distance is very tight and it would have been more sensible to leave it where it was to give my trade a bit more room to breath.
My final screenshot is of my take profit 2 target being reached, which is set (but can be amended if you prefer) to a risk 1:2 reward level. Risking just 1% and depending on if you decided to take partial profits, this trade would have made you either 1.5% or a 2% return on a 1% risk.
Whole trade took 23 minutes.
Mark Rose
It’s quite unusual for a trade to run overnight, but here’s an example.
EURGBP 14.45pm Signal
EURGBP 14.45pm Trade Set Up
EURGBP 14.45pm Trade Entry
EURGBP 14.45pm 1st Profit Target
EURGBP 14.45pm 2nd Profit Target
Mark Rose
I thought I’d share this losing trade with you.
It came within 0.2 of a point of the 1st profit target, before turning around and going to the stop.
Trading can be hard sometimes.
Looking at the chart it appears that price hit the 1st profit target, but it didn’t and I want to explain why.
The charts we are looking at are based on the sell price.
The trade was a sell.
To close a sell we have to buy back the market.
As the chart we are looking at is based on the sell price, we need the sell price to move past the 1st profit target level by the spread.
The spread on US30 is 2.1 points
The 1st profit target level was 30428.4
Allowing for a 2.1 point spread, we need the sell price to hit 30426.3, as this will have the buy price 2.1 pips higher at 30428.4
The sell price hit 30426.5
Close, but no cigar.
Regards,
Mark
US30 9.45am Signal
US30 9.45am Trade Set Up
US30 9.45am Trade Entry
US30 9.45am Hit Stop Loss -1%
Not to worry though, there have been some winning trade set ups too.
USDCHF 8.45am Signal
USDCHF 8.45am Trade Set Up
USDCHF 8.45am Trade Entry
USDCHF 8.45am 1st Profit Target +0.5%
USDCHF 8.45am 2nd Profit Target +1%
EURUSD 9.00am Signal
EURUSD 9.00am Trade Set Up
EURUSD 9.00am Trade Entry
EURUSD 9.00am 1st Profit Target +0.5%
EURUSD 9.00am 2nd Profit Target +1%
USDJPY 8.45am Signal
USDJPY 8.45am Trade Set Up
USDJPY 8.45am Trade Entry
USDJPY 8.45am 1st Profit Target +0.5%
USDJPY 8.45am 2nd Profit Target +1%
2nd loss of the day.
EURAUD 13.00pm Signal
EURAUD 13.00pm Trade Set Up
EURAUD 13.00pm Trade Entry
EURAUD 13.00pm Stop Loss Hit -1%
Did a bit better with another EURAUD trade a bit later.
EURAUD 15.00pm Signal
EURAUD 15.00pm Trade Set Up
EURAUD 15.00pm Trade Entry
EURUSD 1st Profit Target +0.5%
EURAUD 15.00pm
GBPJPY 15.00pm Signal
GBPJPY 15.00pm Trade Set Up
GBPJPY 15.00pm Trade Entry
GBPJPY 15.00pm 1st Profit Target +0.5%
GBPJPY 15.00pm 2nd Profit Target +1%
Mark Rose
A pretty good start to February for B&B, even if it did start with a loss.
If you had managed to get into all of these trades, risking 1% per trade, you would be up 7%
Regards,
Mark
EURUSD 7.15am Signal
EURUSD 7.15am Trade Set Up
EURUSD 7.15am Trade Entry
EURUSD 7.15am Closed for a loss -1%
CAC 7.30am Signal
CAC 7.30am Trade Set Up
CAC 7.30am Trade Entry
CAC 7.30am 1st Profit Target +0.5%
CAC 7.30am 2nd Profit Target +1%
DAX 9.30am Signal
DAX 9.30am Trade Set Up
DAX 9.30am Trade Entry
DAX 9.30am 1st Profit Target +0.5%
DAX 9.30am 2nd Profit Target +1%
GBPUSD 10.45am Signal
GBPUSD 10.45am Trade Set Up
GBPUSD 10.45 Trade Entry
GBPUSD 10.45am 1st Profit Target + 0.5%
GBPUSD 2nd Half Closed at Breakeven
EURAUD 11.30 Signal
EURAUD 11.30 Trade Set Up
EURAUD 11.30 Trade Entry
EURAUD 11.30am 1st Profit Target
EURAUD 11.30am 2nd Half Closed at breakeven
US30 11.30am Signal
US30 11.30am Trade Set Up
US30 11.30am Trade Entry
US30 11.30am 1st Profit Target
US30 11.30am 2nd Half Closed at Breakeven
US500 11.30am Signal
US500 11.30am Trade Set Up
US500 11.30am Trade Entry
US500 11.30am 1st Profit Target
US500 11.30am 2nd Half Closed at Breakeven
DAX 11.30am Signal
DAX 11.30am Trade Set Up
DAX 11.30am Trade Entry
DAX 11.30am 1st Profit Target +0.5%
DAX 11.30am 2nd Profit Target + 1%
USDCAD 16.15pm Signal
USDCAD 16.15pm Trade Set Up
USDCAD 16:15pm Trade Entry
USDCAD 16.15pm 1st Profit Target +0.5%
USDCAD 2nd Half Closed at Breakeven
EURUSD 10.45am Signal
EURUSD 10.45am Trade Set Up
EURUSD 10.45am Trade Entry
EURUSD 10.45 1st Profit Target
EURUSD 10.45am 2nd Half Closed at Breakeven
UK100 11.45am Signal
UK100 11.45am Trade Set Up
UK100 11.45am Trade Entry
UK100 11.45am 1st Profit Target
UK100 2nd Half Closed at Breakeven
Mark Rose
I’ve had a couple of questions emailed in about B&B that I thought I should post here too.
For obvious reasons, the charts you see on my posts do not include the technical indicators I use to identify the potential trades.
If you become a member of B&B then the technical indicators I use will be revealed and you will easily be able to apply them to the charts (I will send you a template that does this for you).
You will then be able to see why the candles I have identified as the “signal candles” in the posts above, are the signal candles.
For your info, I use up to seven technical indicators to help identify turning points in the market.
Also, my posts above are not supposed to be a full record of all the potential trades identified, but more of a stream of consciousness from me.
If and when I have the time and something I think is useful to say, I am posting it here.
B&B can be used based on any instrument in any time frame, it has deliberately been designed this way so that all types of traders can use it in a way that complements their preferred trading style and their availability to place trades.
Personally, I use B&B to scratch my shorter-term trading itch, as I have other systems for long and medium term trading, but B&B can be used on any time frame between 1min and theoretically 1 month.
The % risk per trade I suggest for B&B is between ½ and 2%.
If you trade risking 2%, then you may only be able to open one or two trades at a time.
This will depend on the instrument you are trading, the number of points/pips to your stop loss and the size of your stake.
The shorter term you trade the tighter the stop loss tends to be.
The tighter the stop loss the larger the stake tends to be.
The larger the stake, the bigger the margin requirements are – I’ve covered margin requirements a lot in Traders Bulletin, you can see more info about this here: understand margin trading risk
If trading a large instrument with a 2% risk and a tight stop (and therefore larger stake) you will bang up against margin requirements. In this case, if you want to be able to open multiple trades at one time, you will need to reduce the % risk.
All the best
Mark
Mark Rose
A very good day today.
If you’d opened all eleven of these you’d be up 12.5% based on risking 1% per trade.
Regards,
Mark
Gold 7.45am Signal
Gold 7.45am Trade Set Up
Gold 7.45am Trade Entry
Gold 7.45am Hit Both Profit Targets
GBPJPY 8.00am Signal
GBPJPY 8.00am Trade Set Up
GBPJPY 8.00am Trade Entry
GBPJPY 8.00am 1st Profit Target
GBPJPY 8.00am 2nd Profit Target
EURGBP 8.30am Signal
EURGBP 8.30am Trade Set Up
EURGBP 8.30am Trade Open
EURGBP 8.30am 1st Profit Target
EURGBP 8.30am 2nd Profit Target
GBPCAD 8.30am Signal
GBPCAD 8.30am Trade Set Up
GBPCAD 8.30am Trade Entry
GBPCAD 8.30am 1st Profit Target
GBPCAD 8.30am 2nd Profit Target
CAC 9.30am Signal
CAC 9.30am Trade Set Up
CAC 9.30am Trade Entry
CAC 9.30am 1st Profit Target
CAC 9.30am 2nd Half Closed at Breakeven
Gold 11.00am Signal
Gold 11.00am Trade Set Up
Gold 11.00am Trade Entry
Gold 11.00am 1st Profit Target
Gold 11.00am 2nd Profit Target
EURJPY 14.15pm Signal
EURJPY 14.15pm Trade Set UP
EURJPY 14.15pm Trade Entry
EURJPY 14.15pm 1st Profit Target
EURJPY 14.15pm 2nd Profit Target
USDCHF 14.15pm Signal
USDCHF 14.15pm Trade Set Up
USDCHF 4.15pm Trade Entry
USDCHF 14.15pm 1st Profit Target
USDCHF 14.15pm 2nd Half Closed at Breakeven
EURJPY 16.00pm Signal
EURJPY 16.00pm Trade Set Up
EURJPY 16.00pm Trade Entry
EURJPY 16.00pm Hit Both Profit Targets
GBPJPY 16.00pm Signal
GBPJPY 16.00pm Trade Set Up
GBPJPY 16.00pm Trade Entry
GBPJPY 16.00pm 1st Profit Target
GBPJPY 16.00pm 2nd Half Closed at Breakeven
US500 17.00pm Signal
US500 17.00pm Trade Set Up
US500 17.00pm Trade Entry
US500 17.00pm 1st Profit target
US500 17.00pm “nd Half Closed at Breakeven
Mark Rose
I thought it was about time I gave a bit of an update on my progress with B&B.
I’m afraid progress has been a bit slow.
In part caused by illness both here and at my developers, alongside some tech issues and my inability to record videos with three noisy teenage boys bouncing off the walls.
We are starting to inch forward again now and the strategy itself is working well, as you will see from today’s trade examples.
5 Trades for a total 4.5% profit, based on risking just 1% per trade.
EURJPY Signal
EURJPY Trade set up
EURJPY Trade open
EURJPY 1st Profit Target + 0.5%
EURJPY 2nd Profit Target +1%
EURUSD Signal
EURUSD Trade set up
EURUSD Trade Open
EURUSD 1st Profit Target + 0.5%
EURUSD 2nd Profit Target +1%
USDCHF Signal
USDCHF Trade set up
USDCHF Trade open
USDCHF 1st Profit Target +0.5%
USDCHF 2nd half closed at entry
EURAUD Signal
EURAUD Trade set up
EURAUD Trade open
EURAUD 1st Profit Target +0.5%
EURAUD 2nd Half close at entry
EURAUD Signal
EURAUD Trade set up
EURAUD Trade open
EURAUD 1st Profit Target +0.5%
EURAUD 2nd Half closed at entry
Mark Rose
Really pleased with how the final version of the B&B software is working and a pretty good day trading with it today.
We are still in the final test phase, but I think other than possibly some small cosmetic changes, the software is ready.
I’m still putting together the supporting material, so afraid we aren’t quite ready to launch, but we are getting there and I’m very, very excited.
Regards,
Mark
GBPUSD closed half the trade at 1:1 and the rest closed just better than break-even when price retraced.
AUDUSD. Trading can be a cruel game sometimes. Just got touched into the trade, then just touched out of the trade before price went to my 1st profit target.
UK100 trade made up for it, price pulled back after i opened the trade, but didn’t hit the stop and then turned and went to both my 1:1 and 1:2 profit target.
Mark Rose
I’ve always used B&B to take regular quick trades in the market, but have built in the ability to trade it based on longer-term charts for those who like to trade based on longer time-frames.
Theoretically you could trade any chart between a 1 min and a 1 month, so lots of flexibility to fit it in around jobs/other commitments.
Below is a two part trade I took this morning based on a signal that set up on a 15 min chart, but traded based on the 1 min chart for a quicker entry.
I’m a strong believer in shortening into trades by finding an earlier entry.
This trade managed to automatically close half at 1:1 and then move the stop loss to just a smidge above break-even.
Bread and Butter Trader GBPUSD trade 8.30am Tues 13.10.20 – Trade opened and sitting around break-even
Bread and Butter Trader GBPUSD trade 8.30am Tues 13.10.20 – First profit target reached, half the trade closed at a 1:1 risk reward.
Bread and Butter Trader GBPUSD trade 8.30am Tues 13.10.20 – Stop loss brought to just above break-even takes me out of the rest of the trade.
Bread and Butter Trader GBPUSD trade 8.30am Tues 13.10.20 – Correct desion to move my stop loss up to break-even. After my trade closed price continued down and would have hit the orginal stop.
Mark Rose
I realise it’s taking me a bit longer than I’d hoped to bring you all the new and improved B&B.
I promise it’s worth the wait.
The eagle eyed among you will notice we are now on version 7.4 of the software (top right corner) and I am waiting for version 7.5.
My developer has pulled what’s left of his hair out and is openly calling me names, but I want the software to be perfect.
The delay is due to a couple of developments planned for an upgrade, which I decided needed to be there from launch.
All our trades are placed with emergency stops and profit limits, so if you lost connection the trade is still protected. The B&B software calculates the stake based on the % you want to risk and the distance in pips/points to the stop loss, all this is calculated by the software, but you can of course override this if you wish to.
So progress is being made and you can be confident that B&B is a very robust and well designed piece of software,
In the meantime below is a trade I took yesterday that you might find interesting.
Regards,
Mark
Bread and Butter Trader EURJPY trade 9.45am Tues 6.10.20 – Trade just opened
Bread and Butter Trader EURJPY trade 9.45am Tues 6.10.20 – Price moving towards the 1st profit target at a 1:1 risk/reward ratio.
Bread and Butter Trader EURJPY trade 9.45am Tues 6.10.20 – 1st profit target hit closing half the position, stop loss moved up to breakeven.
Bread and Butter Trader EURJPY trade 9.45am Tues 6.10.20 – 2nd profit target hit closing the remainder of the trade at a 1:2 risk/reward ratio.
Mark Rose
I mentioned in my last post that there will be other trades where going for 4% per trade will pay off and return more than looking to get into risk free trades, so I thought I should post an example.
In the trade below, moving my stop loss to breakeven when price hit the first profit target meant the price reversal took me out at breakeven, before price then turned and went to the 4% profit target.
It doesn’t take many trades like this for the risk reduction approach of moving the stop loss to breakeven, will mean smaller overall profits.
This shouldn’t be a surprise as reducing risk, normally goes hand in hand with smaller potential profits.
Part closing the trade would have helped here. If I had part closed rather than moved the stop to breackeven, I could still have made 3% from this trade.
If price reverted to the original stop loss, across both parts of the trade, i would have come out at breakeven (1 part making 1% and 1 part losing 1%).
If, as did happen, price moved to the second profit target, I would have made 3%.
Not as good as 4%, but better than breakeven.
Bread and Butter Trader GBPUSD trade 9.30am Wed 12.8.20
Mark Rose
The trades below are a good demonstration of why I look to get into a risk free trade either by part closing when I reach the 1st profit target, or by moving my stop to breakeven when I get to the first profit target.
5 trades made 0% = 0%
2 trades made 3% = 6%
2 trades made 4% = 8%
Total +14%
But the results from these trade would be very different if I did not look to get into risk free trades by part closing or moving the stop to breakeven when the 1st profit target was reached, but instead left them looking to make 4% on each trade.
5 trades made -2% = -10%
4 trades made 4% = 16%
Total + 6%
Of course there will be other trades where going for 4% per trade will pay off and return more than looking to get into risk free trades, but this is likely going to be a much more volatile approach, could you really weather 5 losing trades and – 10%?
Bread and Butter Trader UK100 trade 8.30am Fri 7.8.20
Bread and Butter Trader EURGBP trade 9.00am Fri 7.8.20
Bread and Butter Trader GBPUSD trade 9.15am Fri 7.8.20
Bread and Butter Trader GBPCAD trade 9.30am Fri 7.8.20
Bread and Butter Trader UK100 trade 10.15am Fri 7.8.20
Bread and Butter Trader DAX trade 10.15am Fri 7.8.20
Bread and Butter Trader EURJPY trade 10.45am Fri 7.8.20
Bread and Butter Trader USDJPY trade 11.30am Fri 7.8.20
Bread and Butter Trader USDCAD trade 1.45pm Fri 7.8.20
Mark Rose
A busy day today.
Bread and Butter Trader EURUSD trade 9.00am Thur 6.8.20
Bread and Butter Trader CAC trade 9.45am Thur 6.8.20
Bread and Butter Trader CAC trade 9.45am Thur 6.8.20
Bread and Butter Trader AUDUSD trade 9.45am Thur 6.8.20
Bread and Butter Trader USTech trade 12.00pm Thur 6.8.20
Bread and Butter Trader US30 trade 1.00pm Thur 6.8.20
Bread and Butter Trader USDJPY trade 1.00pm Thur 6.8.20
Bread and Butter Trader ASDUSD trade 1.45pm Thur 6.8.20
Bread and Butter Trader ASDUSD trade 3.00pm Thur 6.8.20
Mark Rose
It’s been a couple of weeks since I lasted updated you on the B&B development.
We are now on version 6.5 of the software (last image above was of 6.0).
All updates are small bug fixes and improvements to the visuals of the software, rather than any major changes.
We are really happy with how its all coming together and think we are almost finished with the software itself.
I’m still working on the supporting materials, lots of videos to record!
Regards,
Mark
P.S. A couple of examples below of some winning trades this morning.
Bread and Butter Trader EURGBP trade 6.45am Tues 4.8.20
Bread and Butter Trader USDJPY trade 8.30am Tues 4.8.20
Mark Rose
This was a quick and easy trade, but was there the potential for more?
In general the largest return I am for is a Reward 2:1 Risk ratio.
This reward to risk ratio is much lauded, but the truth is pushing for this isn’t as easy as it sounds, and I often end up accepting less (Reward 1.5: 1 Risk for example).
But on some trades, when the price is moving quickly in one direction, it is possible to push for more.
In the trade below, price was moving quickly, all in my favour and I could/should have moved my stop loss down and pushed my profit target further out. With a quick look to the left I could easily see an area of support that I could have used.
This is where being able to move the lines on the chart is so useful, I can manually override the Bread and Butter Trader Manger if I can see an out of the ordinary opportunity, but of course this does require us to be in front of our screens.
Still, 4% in twenty minutes isn’t bad.
Regards,
Mark
Bread and Butter Trader DAX trade 11.30am Fri 17.7.20
Mark Rose
Kicking myself a bit on this one this morning. We will have to wait and see if I get away with it.
What did I miss?
I should have seen the earlier level of resistance (I’ve ringed it on the image below). If I had slightly adjusted my first profit target to take this into account, I would already be in a risk free trade, but as it is, I am currently making a small loss.
Bread and Butter Trader GBPUSD trade 7.45am Fri 17.7.20
Phew, got away with it.
I moved my first profit target to just below the resistance and when price returned to this level, the trade manger part closed the trade making just a bit less than 1%.
Interestingly, price still didn’t manage to breach the resistance level. If I hadn’t moved my first profit target down below it, I would still be risking 2% on this trade.
As it is, I have banked just slightly less than 1% and if price pulls back to my stop loss, I will lose 1% on the remaining part of my trade, meaning a breakeven trade overall. If price heads off to my second profit target, I will make 3%.
Which is a nice stress free position to be in.
Breakeven trade it is. Obviously would have preferred to make 3%, but very glad I adjusted my first profit target and manged to make this a risk free trade.
Being ultra defensive on this trade would have produced the best results.
By part closing at the first profit target and moving my stop loss to breakeven, I would have returned 1% overall.
Regards,
Mark
Mark Rose
I’ve been mentioning in my posts above about the different trade/risk management strategies we use in Bread and Butter Trader.
This trade is a good example of where part closing, but not moving my stop loss to breakeven, has kept me in a trade.
If I had moved my stop loss to breakeven, this would have been hit when price retraced, before it then went on to hit my 2nd profit target.
Of course, if I had just left the trade alone and done nothing when price hit the 1st profit target, I could have made 4%!
Regards,
Mark
Bread and Butter Trader AUDUSD trade 3.30pm Thur 16.7.20
Mark Rose
I’m a bit late walking the dogs today as I had to drop my eldest off to his one day a week at school, but before I go I wanted to show you two winning trades from this morning.
Luckily for me I was able to spot these two winning trades before we set off on the school run, so I could leave the Bread and Butter Trader Manger to do it’s thing whilst I was off doing my errands .
Now, if I can just find the dog leads…
Regards,
Mark
Bread and Butter Trader EURUSD trade 7.30am Thur 16.7.20
Bread and Butter Trader GBPUSD trade 7.45am Thur 16.7.20
Mark Rose
Glad I managed to find these winning trades this morning as am not going to be at my desk much this afternoon.
Bread and Butter Trader EURGBP trade 8.15am Wed 15.7.20
Bread and Butter Trader USDCHF trade 9.00am Wed 15.7.20
Bread and Butter Trader EURUSD trade 9.30am Wed 15.7.20
Mark Rose
Following on from my post above, here’s an example of a trade where I moved my stop loss up to breakeven when the fist target is reached.
Price reverses and my trade is closed at breakeven.
Trade then moves down to my original stop loss, meaning moving my stop loss up saved me from having a 2% losing trade.
If I had part closed at the first profit target and moved my stop loss to breakeven, as i mentioned as a possibility in the above post, I would have returned 1% on this trade.
Regards,
Mark
Bread and Butter Trader GBPJPY trade 9.30am Tues 14.7.20
Mark Rose
This trade is similar to the trade above, but moving the stop to breakeven meant I missed out on a 4% winning trade, where in the image above it kept me out of a 2% losing trade.
Stating the obvious, but one winning trade you missed equates to two losing trades, so from a purely financial point of view, this strategy needs to keep you out of twice as many losing trades as it does winning ones to be effective.
However, you shouldn’t underestimate the psychological effect of losses, especially, as often happens, they come along in bunches.
Sometimes it is worth sacrificing some profits to protect you trading capital and to feel more comfortable with the trading process.
Regards,
Mark
Bread and Butter Trader US30 trade 8.15am Wed 15.7.20
Mark Rose
As is often the case, after a nice bit of activity in the morning session, the markets have now gone a bit quiet as we approach 11.30am.
This at least gives me the chance to post a few more images of some winning trades from this morning.
All pretty text book Bread & Butter Trader stuff.
You’ll notice on some trades I record a 3% profit and on others a 4% (based on risking 2% per trade).
Within B&B there are a couple of variations in the trade management.
On trades with a tight stop loss distances, I tend to part close the trades rather than move my stop loss up to breakeven.
On trades with a bit more breathing room, I won’t part close, but instead will move the stop loss to breakeven. This gives me the potential to make 4%.
Both these approaches first get me to the point of a risk-free trade before hopefully going on to make a 3% or 4% overall profit.
As it turns out, on all four trades below, I could have made 4% on each, so I have, I suppose, left 2% of extra profit on the table.
My logic is it is very easy for price to pullback to take me out of a trade at breakeven when the stops are tight, and then reverse and go on to hit what was my profit target.
I’m ok with sacrificing a potential 1% extra profit, if this keeps me in a 3% winning trade, rather than a breakeven trade, but this sort of thing is very individual to the trader.
You could equally part close and move the stop loss to breakeven. This would guarantee you a 1% winning trade, but still with the potential to make 3%.
It’s all about find a risk management strategy that you are comfortable with. Some of us like to hold on for bigger winners, others like the little and often approach, both are equally valid.
Regards,
Mark
Bread and Butter Trader USTech trade 7.30am Tues 14.7.20
Bread and Butter Trader US30 trade 7.30am Tues 14.7.20
Bread and Butter Trader AUDUSD trade 8.45am Tues 14.7.20
Bread and Butter Trader EURUSD trade 8.45am Tues 14.7.20
Mark Rose
Just in case you aren’t bored of seeing these yet, two more winning trades identified by the software below.
Regards,
Mark
Bread and Butter Trader USDCHF 1.30pm Mon 13.7.20
Bread and Butter Trader USTech 2.45pm Mon 13.7.20
Mark Rose
Quick update on B&B.
I received the latest version of the software over the weekend, fixing a few minor bugs.
We still have a couple more to iron out, but software is pretty much there.
I’m now recording the supporting videos and manual.
Below is an example of a trade picked up this morning that I thought you might find interesting.
This was one for the early birds, but a nice early profit to start the week.
Bread and Butter Trader AUDUSD 6.30am Mon 13.7.20
I received an alert from the software of a potential trade set up at 6:30am.
I dragged the software onto the chart and the software placed the trade at 6:38am, risking 2% of my account balance.
Software automatically took 50% partial profits at 7:13am, returning 1% and leaving me in a risk-free trade.
Software automatically closed the 2nd 50% of my trade at 9:02am, returning 2%, giving me a 3% return overall.
Mark Rose
Hi Mayur,
I’m afraid B&B is still a work in progress.
The software is now pretty much there, I just need to get started on the guide and videos for the members site.
You can sign up to FBT here: https://fightbacktrader.co.uk/fight-back-trader/
Regards,
Mark
Mark Rose
I’ve received a comment that the above trades are a bit difficult to work out, so I’ve started highlighting the entry and closing candles.
These are all trades where I have received an alert telling me of a potential trade and I have then dragged a trade manger onto the chart.
Enjoy!
Regards,
Mark
Bread and Butter Trader DAX 8.35am Wed 13.5.20
Bread and Butter Trader EURGBP 11.05am Wed 13.5.20
Bread and Butter Trader AUDUSD 1.05pm Wed 13.5.20
Bread and Butter Trader GBPCAD 2pm Wed 13.5.20
Bread and Butter Trader CAC 9am Fri 15.5.20
Bread and Butter Trader DAX 10.20am Fri 15.5.20
Bread and Butter Trader UK100 8am Tues 19.5.20
Bread and Butter Trader USDCAD 8am Tues 19.5.20
Bread and Butter Trader EURJPY 8am Tues 19.5.20
Bread and Butter Trader EURUSD 2.45pm Tues 19.5.20
Bread and Butter Trader UK100 7.15am Wed 20.5.20
Bread and Butter Trader EURGBP 9am Wed 20.5.20
Bread and Butter Trader AUDUSD 9am Wed 20.5.20
Bread and Butter Trader EURJPY 9am Wed 20.5.20
Bread and Butter Trader USDCAD 10.10am Wed 20.5.20
Bread and Butter Trader GBPUSD 7.05am Thur 21.5.20
Bread and Butter Trader GBPCAD 9.10am Thur 21.5.20
Bread and Butter Trader UK100 8.30am Fri 22.5.20
Bread and Butter Trader USTech 8.30am Fri 22.5.20
Bread and Butter Trader EURGBP 8.45am Fri 22.5.20
Bread and Butter Trader CAC 9.15am Fri 22.5.20
Bread and Butter Trader UK100 1.20pm Fri 22.5.20
Bread and Butter Trader USDCAD 3.15pm Fri 22.5.20
Bread and Butter Trader GBPJPY 3.37pm Fri 22.5.20
Bread and Butter Trader EURGBP 4pm Fri 22.5.20
Bread and Butter Trader EURJPY 4pm Fri 22.5.20
Mark Rose
It has turned out to be a pretty good day for B&B today
Bread and Butter Trader GBPCAD Price has already hit the Risk 1:1 Reward target
Bread and Butter Trader GBPCAD Price moving down towards the Risk 1:2 Reward target
Bread and Butter Trader GBPCAD Price has hit the Risk 1:2 Reward target
Bread and Butter Trader EURGBP Price a few pips above the entry
Bread and Butter Trader EURGBP Price has hit the Risk 1:1 Reward target
Bread and Butter Trader EURGBP Price approaching the Risk 1:2 Reward target
Bread and Butter Trader EURGBP Price has hit the Risk 1:2 Reward target
Bread and Butter Trader EURJPY Price a few pips above the entry
Bread and Butter Trader EURJPY Price approaching the Risk 1:1 Reward target
Bread and Butter Trader EURJPY Price a few pips above the Risk 1:1 Reward target. Stop loss moved to breakeven
Bread and Butter Trader EURJPY Price approaching the Risk 1:2 Reward target. Stop loss moved to breakeven
Bread and Butter Trader EURJPY Price just as it hit the Risk 1:2 Reward target. Stop loss moved to breakeven
Mayur Odedra
Hi Mark, any update ?
Mark Rose
Hi Mayur,
Apologies, I did promise to post some images of the EA in action.
Below are a couple of screenshots from a trade on the DAX that was signaled at 8:35am this morning.
The first shows it hitting the Risk 1:1 reward level.
And this one shows price hitting the Risk 1:2 Reward profit target.
Steven Roberts
Ok thanks Mark
Steve
Mark Rose
The B&B EA is making progress and we are in testing mode with it at the moment.
It’s taken a longtime to build this EA, but I think it is much more robustly designed than most you see and is looking good at the moment.
I’ll try and post some screenshots of it when I take trades using it.
Regards,
Mark
.
Steven Roberts
Hi
Is there any update on this system?
Thanks
Steve
Phil
Hi Mark
A month on, is there any news on an upgrade for B&B for existing users for the software?
Cheers!
Phil
Mark Rose
A little bit of good news on the B&B front.
I am now using a B&B identifier to tell me when there is a potential B&B trade set up.
I can then check the chart and place the trade.
I’m still working on another bit of software that, when dragged onto the chart, will paint the stops, entry points and profit targets.
Then it will simply be a case of checking to make sure you like the set up and clicking the trade button to place the trade.
I know it’s been a long time coming, but progress is being made!
Mark
anthony wright
Hi Mark – Is the B&B manual available to buy, if not can you confirm when it wil be available?
Warm Regards
Anthony
Mark Rose
Hi Anthony,
I’m afraid B&B is not available at the moment. I am doing quite a lot of work on a semi automated MT4 EA that can identify the potential trades. Once I’ve got this working I will rewrite the manual and make it available.
Hopefully this will be the tail end of the summer.
Regards,
Mark
Andy Mansell
Hi Mark – been away for a while but looking to get back to trading. Is the B&B manual available to buy? I think I purchased it a while back but due to a variety of personal problems have been unable to do any serous trading. I will happily purchase the manual if this is possible?
Regards,
Andy M
Mark Rose
Hi Andy, I’m afraid this isn’t available at the moment. I’ve been working on developing Bread & Butter as an EA which can run hands-off. However, the process is taking a LOT longer than I’d anticipated. I will be in touch as soon as I have this up and running … Mark
Andy Mansell
Thanks Mark. I’ll take a look at HAV. An EA running in the background whilst I’m busy would be very welcome!
Alan
Any news on the ea update release?
Mark Rose
Afraid not.
My EA man is working on another project for me at the moment and getting the B&B EA working properly has frustratingly taken a step backwards.
The issue is the availability of 2, 3 and 10min charts on MT4.
Manually I trade B&B using the 2, 3, 5, 10, 15min charts, looking for the best entry. Of these MT4 only offer the 5 and 15min as standard charts.
Building the others is possible, but adds another layer of confusion,
Regards,
Mark
Ben
Hi everyone, Where can i get hold of the original bread and butter trader system as the new one seems to be taking a while to get released.
Thanks
Chris
Hi Mark
Is the manual for this system still available?
thanks
Chris
walter kopecny
Any new updates on the Ea,manual?
phil
I still love this method of trading and as an existing member am very much looking forward to upgrading, as mentioned above!
Peter
Mark thats great
look forward to hearing more soon
Mark Rose
Very excited to have version 43 of the Bread and Butter software installed and finally it is shortening in!
Looks great so far and I’m up 2% on the trades taken today.
Still a lot of testing to do and some refinements to make, but it really feels like we have made a great leap forward.
Regards,
Mark .
Ben
I really should proof read before hitting send!! Apologies for the terrible spelling!!
Ben
Hi Mark, Happy Christmas, I’m really looking forward to you releasing the manua. On everage how many pips does Bread & Butter bring in per month?
Kind regards
Ben
Mark Rose
Hi Ben,
This will depend on the size and number of instrument you trade, so not a simple question to answer.
As a % I’m aiming for 5% per instrument per month, but some will be up whilst others are down on this target.
Kind regards,
Mark Rose
Mark Rose
Not getting the Bread and Butter EA working is my major disappointment for 2016. I can’t believe we still haven’t cracked this – we are now on version 40 of the software!
I am hoping to have something that works properly and that I can test in Jan. If not I will redo the manual and make this available, as I know there are quite a few of you who want to manually trade it anyway.
I’m really sorry this has taken so long.
Kind regards,
Mark
PHIL ENGLISH
Hi Mark
I, like a number of others, would be very happy to purchase the manual system. Would you please reconsider making it available to purchase once again.
Regards
Phil
Mark Rose
Hi Phil,
Thanks very much for your post and support, I admit getting B&B (MT4) working has proven to be an epic undertaking, we are now on version 30 of the software.
We are working on this pretty much every day and are getting closer and closer to having something that we are happy with.
Below is a screenshot of the software at work. All the trades you see have been automatically placed on my account by the software and as you can see, it’s been a very good period.
Kind regards and apologies this is taking so long.
Mark Rose
Mark Rose
Hi Andy,
Not much I’m afraid. We are on version 28 now, but still haven’t cracked the shortening in issue satisfactorily.
Regards,
Mark
andy
Hey Mark’
any news on the EA ??
Mark Rose
Hi Kim,
Its a good point.
I have to admit I had expected to have the new EA up and running months back, but we have been struggling to be able to get the EA to shorten in, which is a significant part of the approach.
Hopefully we are getting close to getting this solved now and there will still be a manual that goes along with the EA and you will be able to set it so that you can trade manually.
Regards,
Mark
Kim
Hi Mark,
I can appreciate that there are many who will like an EA to do the trading for them. There are also I’m sure many of us who like/prefer to trade manually. With that in mind how about releasing the updated B&B as a manually traded system first so the ones of us who do not own a copy of the system and indeed may even prefer to trade manually can get started?
Regards,
Kim
Svend
Hi Mark,
When do you expect to roll out the automated EA for MT4 pls ?
All the best for wishes 2016
Mark Rose
Hi Svend,
This is my number 1 project for 2016. We are now on version 20 of the software, which I hope gives you an idea of the sort of effort that’s going into it!
Main stumbling block at the moment is being able to shorten in through the timeframe to get as quick an entry as possible.
I’m really not sure yet when the launch will be, but what I can say is when it is released, it will be as solid and professionally built bit of kit as is possible.
Regards,
Mark
Kevin
Hi Mark,
Will you make it available for new customers outside the EU? I only came across this website and your system today. From the comments above, it sounds awesome.
phil
I love this method of trading and as an existing member am very much looking forward to upgrading, as mentioned above!
Tony
OK Mark, thanks for that. I’ll look forward to trying it.
Andy
Yes, your right regarding the time frames, today i would have stayed out if only looking at the higher tf, i can see now (with hindsight ) that i was indeed fighting an uphill battle.
Gave back yesterdays gain today but, as i am only trading small stakes while gaining experience no big loss, however, must address my discipline !
John O' Toole
Hi Mark,
I purchased the Bread & Butter Alert manual via pay pay a couple of weeks ago, only to receive a refund note today saying its not currently available. I’m most disappointed as I’ve spent hours looking at your trading videos and studying how the whole thing works. I’ve recently sold my business and for the first time in my life I now have the time to dedicate to learn how to be a successful trader. I would really appreciate it if you could let me purchase a copy, Many thanks, John.
Mark Rose
Hi John,
Apologies for mucking you about.
We are working flat out on the automated version of B&B and are well into the testing phase.
There will be a new website and manual to go with the strategy and I’ve taken the decision not to take any more orders for the original manual.
I’m hoping to be ready to show the new version to the world in the next 2 to 3 months and will keep you up to date with progress.
Regards,
Mark
Tony
Hi Mark
Regarding the automated version of B & B, can you say if you are intending to sell it at a discount to existing holders of the original manual?
Many thanks
Tony
Mark Rose
Hi Tony,
I haven’t got a plan for this yet, but expect we will do something along these lines for existing members.
Regards,
Mark
Andy
Yesterday i traded a lot on the 5 min charts, very busy, still came out with 8%.
Today, not so good, nearly given back yesterdays gains, maybe a bit of complacency setting in, we’ll see
Mark Rose
Hi Andy,
It would be interesting to see how many of the trades you would have stayed out of if you’d looked for confirmation on the 15min time frame first?
The shorter the time frame, the more false signals you will get, which is why I shorten in from a 30min or 15min signal down to the 5min.
It’s a bit of swings and roundabouts as doing this keeps you out of winning trades too, but I have found this to be the best approach to use.
Regards,
Mark
P.S. You can also set a loss limit on the day. Often the market starts trending for a reason and you will be fighting an uphill battle. By setting a limit you can control these down days, whilst reaping the benefit of the strong days.
Andy
Well, was able to trade most of the morning and managed 4%,as you said Mark, lots of action am and slow pm. Even so, i am still looking out for a late trade or two.
Mark Rose
Here are the final B&B trades on the FTSE and the DAX for the week. A very good week in the end, but very heavily due to the FTSE, rather than the DAX.
Based on an initial 2% risk per trade the 26 DAX and FTSE trades bought in a potential 20.5%.
DAX 12 trades -1%
FTSE 14 trades + 21.5%
DAX1 -2%
DAX2 -2%
DAX3 + 1%
FTSE1 -2%
FTSE2 +2.5%
FTSE3 +1%
Regards,
Mark
Andy
Ah, yes of course, sevens still a bit early for my liking though.
But, having said that, the B&B system appears to be busy 1st thing in the morning so make hay and all that.
Just managed to scrape 1% on the FTSE so far this evening, am at home next week so can be more active in the mornings.
Andy
Mark Rose
Here are the B&B trades for today on the DAX and FTSE.
More good news I’m glad to report.
Regards,
Mark
DAX 1 +2%
DAX 2 -2%
DAX 3 +1%
DAX 4 -2%
DAX 5 -2%
FTSE1 +3%
FTSE2 -2%
FTSE3 +3%
FTSE4 +2%
Andy
Well,
nothing doing this evening so far, but good to see you made 5% today Mark even if you did have to be up at 6am !
Mark Rose
Charts are 1 hour out, so 6 on the charts is actually 7am GMT.
Regards,
Mark
Andy
Hello Mark,
Just caught 3 trades (early evening)
-1% eur/gbp
+2%gbp/usd
+2%gbp/usd,
happy with that so far
Andy
Mark Rose
Great stuff.
I’ve only ever tended to trade FX in the morning session so it will be interesting to see how you do trading early evening.
Regards,
Mark
Mark Rose
Seeing as I’ve started this my plan is to keep going for the rest of the week.
Similarly to yesterday there weren’t any trades on the DAX.
We did get 2 trades on the FTSE again though,which both won.
Trade 1 plus 1%
Trade 2 plus 3%
A pretty good week so far.
Regards,
Mark
Mark Rose
We had a 2nd trade signaled this afternoon on the FTSE, so another good day in the end.
Regards,
Mark
Andy – It would probably be worth taking a look back over the trades I’ve posted here in the last couple of days, to see if you can agree why they were trades and why I chose the time frame I did.
Email me if you want to go into detail.
Mark Rose
Been a bit slow today with no DAX trades at all.
We did get a trade signaled on the FTSE which produced a 1% return.
Regards,
Mark
Andy
Update, manual arrived today having only ordered yesterday so very pleased with response when ordering.
Managed to read the manual and get a 1st winning trade on gbp/usd early afternoon !
Have to give credit to you Mark for such a simple system and also credit for your earlier comments on trading times etc.
Will see how i progress and try to post the occasional update
Andy
Mark Rose
Hi Andy,
Welcome aboard.
I’ll trade anything from 30 mins down to 2 mins. Although it tends to be the 5/10/15mins in the main.
I always look for confirmation on the longer time frames, but will try to get in early by shortening into the entry.
This is all covered in the manual and videos.
Regards,
Mark
Andy
Thanks Mark, look forward to seeing the manual & putting it into action.
Mark Rose
Seeing as there is a bit of conversation on here today I thought I’d post some images of the B&B set ups on the DAX so far today (one of my favourite instruments to trade).
Obviously it’s been a good morning, but more than that I hope this will give you an idea of the number of trades and trade duration.
* 1 thing to point out is the times on the charts are 1 hour behind GMT, so 6am is actually 7am here*.
Regards,
Mark
4 trades and plus 5%
1st trade +1%
2nd trade -2%
3rd trade +3%
4th trade +3%
Mark Rose
So as to give the complete picture for this weeks B&B trades on the both the DAX and FTSE below are Monday’s FTSE trades.
Regards,
Mark
FTSE1 +2%
FTSE2 +1%
FTSE3 +3%
Andy
Hi Mark,
looking at your screen shots above it seems the trades were taken from the 15 min chart then the 5 min then the 10 min then the 5 min, is this usual and do your alerts cover multiple time frames ?
Thanks Andy
BTW have ordered B & B, that’s the only way i can see if it works for me.
Roy
Not reported for ages.
However, since buying this course, ages ago, I can say I use nothing else.
I use it for Differentials, Indices, Oil, G/U, and never really consider any other method.
A simple masterpiece.
Roy.
Andy
Roy, thanks for the update, good to know you are still having success with it.
Having just re read the thread, Mark mentions that a specific platform is required to operate this system, can you comment or perhaps Mark , if your looking in ?
Mark Rose
Hi Andy,
I think this is probably still true unless you are prepared to sit in front of the screen waiting for the set ups, which might prove to be a bit on the boring side!
I use email alerts based on technical analysis (rather than just price) to tell me there is a potential trade setting up.
At the time there was only really one broker with the technology in place to do this, although there might me more now.
Regards,
Mark Rose
Andy
Thanks for the update Mark, might not be suitable currently, perhaps i’ll keep an eye out for future developments
Andy
Andy
Do you read this Mark ?
Strange that there are no updates, perhaps Roy can look in and update us on his use ?
Mark Rose
Hi Andy,
Apologies for missing your comments.
B&B continues to work well, but does involve members being able to place trades when they are signalled, which isn’t always easy if you are working/busy.
That said with the advent of smart phones and trading apps this is much easier than when I first started.
I tend to trade FX early morning (from around 6am if and this is a very big if, I’m up and looking to trade).
I then look at European Indices from 7am until lunch and Wall St/S&P from around 11am.
Wall St/S&P would be the best option for you, although you could look at Asia too. I’ve not really done this, but I’m available during the day, so am not looking to trade the evenings.
The main development is I am working with a programmer on an MT4 version to do the work automatically.
B&B is a rules based strategy, so lends itself to an EA, but like all this things, building in all the little nuances is proving to be a more complicated process than we had first envisaged.
Progress is being made though and I am very excited about it.
Regards,
Mark
Andy
Any thoughts on the above Mark ?
thanks Andy
Andy
Hi Mark
any updates ?
Also i am quite interested but, like Glenn above, can usually only manage evening or eod trading.
Would this give me enough trades to make a return do you think ?
Thanks Andy
luis miguel trinchet
teneis materiales en español de brend and bater, gracias, los videos son en ingles, gracias
Mark Rose
Hi Luis, I’m afraid Bread and Butter is only published in English language at the moment. Thanks for your interest.
Glenn
Hi. I must admit that I did start it but got a bit disappointed as I can only trade first thing and in the evening and as luck would have it these seemed to be the losing trades. The ones that happened during the day were the wins that I missed. May go back in to try again.
Roy
Mark.
Apologies for forgetting to comment—had it planned, and then forgot.
Bread and Butter, as I have reported before, is my weapon of choice; I have not looked back.
It is the simplicity which appeals.
I have fewer charts to watch; DOW and DAX , plus perhaps 3 Forex, is sufficient, and try to make the most of those.
I do include the 20 SMA, as I find that has some significance, where price often bounces off.
I did enjoy your videos, but they must have been a pain to make.
In brief, sticking to the rules, plus the 20 SMA, and thoroughly enjoying it,
Regards,
Roy.
CJ
Hello Roy,
How is your current experience with B&B? As we are now in August 2013, I am looking for recent reviews and recommendations for this service. Basically, keeping it short, is it bringing in a healthy monthly return?
Regards,
CJ.
Mark Rose
Hi Adriana, this strategy doesn’t require you to upload any software – it uses the free tools on my spread-bet platform. This does tie you to a specific platform (although traders have adapted this to use on their preferred platforms), but you can use the same signals on a wide range of timeframes. I hope that helps. Feel free to email me directly if you have any specific queries. Regards, Mark
Adriana
Hi Mark, can you tell me if with your signal softwear can I trade long time frame charts and use any trading Platform ?
Thank you
Adriana