MY TRADING JOURNAL - Range Filters on EUR/USD

[uptick]

Signal at 9.30

Buy at 1.5237
Profit hit at 1.5267 (+30)


Today +30
MTD +30



[Please don't trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]

"Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results."

[uptick]

Signal at 9.30

Buy at 1.5208
Profit hit at 1.5238 (+30)


Today +30
MTD +60



[Please don't trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]

"Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results."

[uptick]

Signal at 9.30

Short at 1.5232
Stopped at 1.5257 (-25)

Today -25
MTD +35

Almost hit my profit target after ISM, but eventually got stopped out. Reason why I don't like trading when news is coming out, haha. Alot of whipsaw action.


[Please don't trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]

"Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results."

[uptick]

I've been working on a new filter for my strategy using stochastics that seems to be working well. Today I put it to use. My strategy signal was an initial short, but with the new filter I decided to go long.

Long at 1.5349

I decided to get out early due to news coming out at 10am. Able to get 5 pips. Filter actually worked great. Could have made a lot more, but I not only made 5 pips, but prevented an eventual stop on my main signal.

Today +5
MTD +40


[Please don't trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]

"Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results."

[uptick]

No signal at 9.30, but with my new filter I went short at the open.

Short at 1.5381

Profit hit at 1.5351.

Today +30
MTD +70


[Please don't trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]

"Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results."

[theunder18kid]

after reading your blog I discovered that you only trade EURUSD and you seem to gain small profits. isn't your risk too much compared to reward?

[theunder18kid]

btw I might start trading small movement currencies like the EURUSD since I dont have much to risk

[uptick]

Originally Posted by theunder18kid

after reading your blog I discovered that you only trade EURUSD and you seem to gain small profits. isn't your risk too much compared to reward?

hey under18kid...

i dont think so. i have a 30 pip profit and a 25 pip stop. my strategy historically has had a good win %. i'm not looking for those huge winners like some people do. i rather simply go for the quick day trade and get out. i never hold positions overnight (i like to sleep in peace..haha).

the strategy is based on range filters and i've backtested and have followed it for some time before actually trading it live. it does have its ups and downs, as in any strategy. so i went back and looked at all the trades its done the last year and noticed that by using stochastics in conjunction with its entry signal, i can filter out a lot of bad trades. i've backtested it, and seems to be right on.

this is one of three strategies that i use, so it compliments my other strategies pretty well, you know. so if i can get over 150 pips in a month with this strategy, i consider it a success.

i try to be realistic. i look at it as more of a marathon than a quick sprint. if i can slowly build up my account and increase my lot size accordingly, i should be sitting pretty down the road.

good luck!

[akeakamai]

Originally Posted by uptick

hey under18kid...

i dont think so. i have a 30 pip profit and a 25 pip stop. my strategy historically has had a good win %. i'm not looking for those huge winners like some people do. i rather simply go for the quick day trade and get out. i never hold positions overnight (i like to sleep in peace..haha).

the strategy is based on range filters and i've backtested and have followed it for some time before actually trading it live. it does have its ups and downs, as in any strategy. so i went back and looked at all the trades its done the last year and noticed that by using stochastics in conjunction with its entry signal, i can filter out a lot of bad trades. i've backtested it, and seems to be right on.

this is one of three strategies that i use, so it compliments my other strategies pretty well, you know. so if i can get over 150 pips in a month with this strategy, i consider it a success.

i try to be realistic. i look at it as more of a marathon than a quick sprint. if i can slowly build up my account and increase my lot size accordingly, i should be sitting pretty down the road.

good luck!

150 pips a month is excellent if its consistent. How long have you been getting those 150/month?

[uptick]

Originally Posted by akeakamai

150 pips a month is excellent if its consistent. How long have you been getting those 150/month?

i started following it live in october. since then i've had a couple of 250+ months and a couple of 60 pip months. so on average i'd say its been around 150 pips. last month wasnt so good. i ended up negative, but thats the way it goes. you know?

yea, i mean...if you break it down. you have 20 trading days. so if i average 7.5 pips a day, i'd hit the 150. and thats trading 1 mini lot. i certainly think thats realistic.

i read all the time about people going for 500 pip profits and stuff and trying to make 100 pips a day...its all good and more power to them, but i just try to be realistic. 100 pips/day is 2,000 a month. if you can do that consistently, your account would be worth more than the GDP of most smaller countries.

so far this month its been working well... first week was good. the new filter i'm using has certainly prevented a couple of losses, so i've been positive all week.

let's see how it does the rest of the month.



[Please don't trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]

"Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results."