Hey guys.
Well, I had a good week, as you already know. I didn’t open any more trades since my last post.
I opened 6 trades.
5 closed — +500 pips
1 still open — (+90.5) at present.
But I am in such a frenzy. I will talk about it in a minute. But, I have a feeling all you guys really think I am just nuts. But, if you please, can you listen to me? Look, I have no one else who listens. This is very important to me. I would like some feedback. Or else I’m just gonna continue to post this stuff and get it off my chest anyway.
I know the way I trade is not in compliance, agreeance, proper, and against all written rules you and everyone else abides by.
Yes…I’m talking about the 100 pip take profit, 200 stop loss. But the data keeps on coming in as profitable.
But I got really moved this week. Sure, I already put out there MY trades results. But, as I have stated many times already, I keep track of this system. At the open of every week, if I go with all my trending highs on the weekly time frames, what’s the results ( 100 tp, 200 sl ) . And the numbers for this week are this.
15 fresh trades. Every one of them took profit.
1 still running trade (opened from 3 weeks ago) took profit.
4 still running trades (opened from 1 week ago ) still running now.
And the total trades opened and closed results, from the month of April to date is this.
148 trades.
108 winners
40 losers
Look, I am getting more and more antsy here about the results. Cause my discretionary trading is surely not any better than those results.
And to talk about why are those trades taking? I think it has to do with fundamentally whether the field is keeping with the trends or not. Do you agree with that synopsis? So, if that it true, then wouldn’t I want to keep track of the field and have a way to determine whether the field (which is just every currency collectively) is on track or if there is change happening? Or the other question is this —is the currency market by nature mostly a trending market? Cause if it is, then I just cannot lose with this system.
Ok, maybe someone can objectively say that I just don’t have enough of a data set. Maybe we’re in a good season for this system. There is many real good trends going on now, huh.
But, I know one thing. At least I’m on the right track. And that would lead me to be thinking of making some adjustments for refinement. Like what’s been going through my mind is about the exact number of a take profit, and stop loss. I’ve been thinking of finding out the weekly, or daily high/low ranges for each pair. Ok, I did find a good table for that. FE, I showed it to you, it’s on the ForexStreet web site. But then I got to thinking, …now what? What would make more sense? The higher the ranges are the better of a result? Or the opposite? I just can’t figure it out, what would make knowing the ranges more of an edge in my favor.
Well that’s what I’ve been thinking lately.
But, to back it up a little bit, you can’t argue against some positive numbers already seen. Did I just get so lucky in picking the 100/200? And against the back drop of the weekly time frame time table?
Well, thanks for listening, reading.
I am by no means putting any of this on you. To try. To agree.
But, I would appreciate any input on an objective basis.
Philip…you have expressed that this is against your religion. It’s personal I understand. But, does that mean you can’t give me any constructive criticism within the confines of this system? I guess I can understand you can’t if you haven’t ever put thought within this arena. So it would be foreign to you.
Well, I at least feel better getting all this off my chest.
Ok, how about this? Are your guys systems doing better?
I’m up 30.7% from the beginning of May. But, that’s with the second month with every trade bumped up to a 2k size.
Thanks
Mike
P.S. I just bought another book. Am very excited about this one!! Called ‘Trade Mindfully’ by Gary Dayton (Wiley) ////Achieve your optimum trading performance with mindfulness and cutting-edge psychology.