My Trading Log

Trading Discussion
1

After 2 months of demoing, backtesting and comparing strategies ive finally gone live!

Ive just finished high school and im going to take a gap year to do things i wont be able to do in later life. As a hobby im going to trade forex and hopefully gain some extra money on the side. Im gonna try and create a similar thread to ultfrisbee’s thread in this section.

My aim is to take as much profit possable as my strategy will allow. Every Friday i will post results. I hope this thread can be an inspiration to new traders as a testament that you can make money in the markets (or you can lose all your money :D)

Id rather not give out my strat just yet as ive spend countless hours researching and perfecting it. If you have any questions feel free to post them in this thread!

2

[B]Trial Week:[/B]
[B]+ 4.08%[/B] on Account Balance

  • 61.9 Pips
    3 Losing Trades (Average -8.3pips)
    2 Winning Trades (Average +43.9pips)

[B]Week One:[/B]
[B]+ 2.32%[/B] on Account Balance

  • 18.3 Pips
    1 Losing Trades (Average -7.3pips)
    1 Winning Trades (Average +25.8pips)

[B]Week Two:[/B]
[B]+ 1.34%[/B] on Account Balance

  • 5.9 Pips
    2 Losing Trades (Average -27.9pips)
    2 Winning Trades (Average +30.8pips)
3

Good job!

You must trade big lots if 60 pips net you 4%! But you seem to have tight SL so you won’t blow your account with 3-4 consecutive bad trades. Way to go! I’m slowly getting back in track but summer is sooo busy for me.

Definitely following you though!

4

Thank you Ultfrisbee! Youre one of the guys who inspired me to do this!

5

If I were to [B]take a Scalp[/B] with [U]$1000 Account[/U]

[B]Risk 2%[/B]: equal $20 Max loss because $20 is 2% of $1000.

if I am risking $20 and I want to use a 20 pip Stoploss than the Pip value must = $1 per pip.

$1 per pip = std account 0.1 lot

We take a scalp with 0.1 lot and we make a 10 pip gain. That would = 1% gain in equity from 1 trade.
60pips = 4+% = Scalping it would seam.

Trade Safe

6

I would have had a 100% win rate in the trial week, but i was testing out another strat which gave me three losses.

In Week One im only going to be focusing on one of my strategies. I am also going to up upping my risk/reward slightly. Hopefully it will be a good week!

8

Week One:

  • 2.32% on Account Balance
  • 18.3 Pips
    1 Losing Trades (Average -7.3pips)
    1 Winning Trades (Average +25.8pips)

A good start to the week. Had one very successful trade Monday but missed out on making another 40pips (+5%) Tuesday morning because I was busy with work.

The losing trade i closed on Friday before the US fundamental news came out at 13:30. I didnt want to risk it seeing as I havent made that many pips this week.

9

Shorted gbp/usd…because it broke support on descending traingle then revered and got stopped out…this happened twice…is that usual?

11

Off to a very bad start this week. 2 Losing trades: One had my stop loss hit (-45.3pip loss) and another was a kneejerk close with -10.4pip loss.

Sideway moving markets can really hurt! Still have 4 1/2 days left to improve though!

12

Back in profit! The big loss monday did kick me back a bit but ive learnt from it and turned it around. Still 2 days left for this week so hopfully i can make some more money!

13

I know you don’t want to talk about your strategy (which makes your tread a bit pointless IMO…) but can you tell if you use indicators or go by price action analysis only?

14

I gave the reason for me doing this thread in the op.
I use both technical and fundamental indicators

Moving averages
stochastics
RSI
MACD
… etc

15

Week 2 figures up. Not a great week but its all profit! Had 2 big losses when SL was high and got hit. The losing traded had lower lots than the winning ones thats why only a 5.9 pip+ equates to a 1% rise.

16

My advice is to set up a separate demo account for testing. Never test in your good account. I take huge losses testing crazy ideas in my testing demo, but it never affects my good account. Happy trading!

20

I generally use moving averages and Alligator.
Sometimes japan candles.

21

Hey Mercia, so far so good, I have been following this thread for some time and your results look interesting.

I wonder if you would be interested in managing some funds from me plus, some of my rich friends HAHA

22

Cool beans. I’m a noob too so I’ll be following this thread. Wish u had put it in tha newbie section tho; I rarely venture outside of it. I’ll def try ta remember ta frequent tho. Happy trading:cool: