MY TRADING JOURNAL - Range Filters on EUR/USD

[uptick]

Long at 1.5333

Profit hit at 1.5363.

Today +30
MTD +100


[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]

Tricky day with the fed news coming out. dollar looked strong and in hindsight i should have sat on the sidelines, but strategy and filter said go long, and i did.

Long at 1.5386

Stopped at 1.5361.

Today -25
MTD +75


[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]

Long at 1.5473

Stopped at 1.5448.

Today -25
MTD +50


[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."

[DoctorG]

can you tell me what you use , MT4? for all your back testing etc?
Are you a computer software expert?
I am very keen to day trade, but find myself almost just flipping a coin sometimes, like roulette red/black = long/short, don't you feel like that a bit?
I guess not if you are using a system with indicators etc

[uptick]

Originally Posted by DoctorG

can you tell me what you use , MT4? for all your back testing etc?
Are you a computer software expert?
I am very keen to day trade, but find myself almost just flipping a coin sometimes, like roulette red/black = long/short, don't you feel like that a bit?
I guess not if you are using a system with indicators etc

I use TradeStation (www.tradestation.com). I've used it for years now.

No, i'm not a computer software expert, haha.

In regards to feeling like a roulette....um.... not really. I'ved followed and tested this strategy for a LONG time before actually going live. In my opinion, that's the most important thing when it comes to trading. Knowing when youre buying/selling, why youre buying/selling, and being disciplined about it. It'll only feel like a roulette when you buy/sell and have no idea why you're doing it.

There are millions of ways you can trade... you just have to find your way, test it, and once you feel comfortable with it then go live. By no means is it easy. Good luck.

[uptick]

Short at 1.5588

Stopped at 1.5613.

Today -25
MTD +25


[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]

sat on the sidelines today with this strategy. the Bear Stearns news made it a crazy day.

stuck to my momentum strategy today which did well.

enjoy your weekend. HUGE week next week... FED on Tuesday!

take care!

[Sitting Bull]

Hey Uptick,

I applaud you for your consistency in posting your results. I was just reading a post about being honest with yourself and I thought you were an example of that immediately.

Without knowing anything about your system, I did notice that for at least one day you posted a loss of 25 pips with a note that your profit target was almost made. Isn't there some way your system can take partial profits in a situation such as that? Then maybe you could see a profit of 10-15 pips on a day like that instead of a loss of 25 pips. I'm a newbie here and to the forex market, so hopefully I can learn something by asking questions.

[uptick]

Originally Posted by Sitting Bull

Hey Uptick,

I applaud you for your consistency in posting your results. I was just reading a post about being honest with yourself and I thought you were an example of that immediately.

Without knowing anything about your system, I did notice that for at least one day you posted a loss of 25 pips with a note that your profit target was almost made. Isn't there some way your system can take partial profits in a situation such as that? Then maybe you could see a profit of 10-15 pips on a day like that instead of a loss of 25 pips. I'm a newbie here and to the forex market, so hopefully I can learn something by asking questions.

hey sittingbull... actually i've been monitoring that. scaling out at 15 pips. it seems to work well... the one thing i dont want is to have my profit less than my stop, you know? but it seems that 15 pips is a good level to scale some lots off the table. lately, these currencies really have ripping up or down...its been crazy. the strategy, historically, is not a big fan of the craziness we've seen lately... but just gotta get through these cycles you know. it's done really well end of last year and january of this year. last month had a small loss overall, and this month i'm up just a bit... but thats the way it goes... you can't win 'em all. i just want to be able to look at my account on a macro level and make sure the profits are consistent.

this is 1 of 3 strategies i use... so its a good balance. i think its important to have different strategies that do not correlate to one another, just in case one of them is going through a drawdown period.

anyways...thanks for the reply. good luck trading and keep in touch!

[uptick]

3/17

Stopped out. -25 for the day.

Today - 25
MTD 0



[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."