Gilas Trading Journal

[GilasTrading]

FINALLY got out of my India 50 short. Damn that was a difficult past 4 days of being stuck. At one point on Monday I was stuck $2,300 I think. Whew! I’m one lucky S.O.B.

Caveat: This is something I never want to do again. It was a bad trade that I was only able to get out of by sheer LUCK.

Taking a break for a bit, not sure if I’m trading later.

Edit: Scalped DAX short for a quick $16.50.

Initial capital: $3,000
Current capital: $8,000 (added $5K sourced from profits)
Cumulative profits since April 11: $14,283.91 (476% on $3,000)
Money withdrawn: $2,000
Parked profits: $7,283.91

[1odi]

nice job, care to elaborate on how u time or choose ur entries? cos the charts u show don t really explain that. cheers

[Beijin]

Very happy to find you!

I trade Oanda Too.

Will follow you and wish you great success!

[dpaterso]

Very nice. Well done. And very admirable that you’re honest enough with yourself and everyone else about that trade.

[GilasTrading]

Made some quickie drunk trades. Shorted EURCAD and made another $130 or so. Am drunk not quite so sure. But no open positions now.

[dpaterso]

Just remember what I told you the other day (if you mess up):

[GilasTrading]

[dpaterso]

Very good. Very clever. LOL!!!

[macilme]

There’s no running faster than a bullet @GilasTrading haha … Only way out is to not piss off our buddy @dpaterso .

Takes a lot of effort and care to not get into bad trades, but even more of those to dig in when necessary to get out of a bad one.

Kudos on that one @GilasTrading.

And notes to newbies like myself who have taken an interest here and @GilasTrading style of trading.

Remember:

DO NOT TRY THIS AT HOME!!!

[clemmo]

Reminds me a bit of Hilmy83’s style over at FF. What do you call this type of trading? Discretionary? Seat-of-the-pants? Gambling?

[abash]

I guess. Money maker!!!

[GilasTrading]

Madness? Idiocy? Pure Luck Trading? Stupidity? Take your pick

[clemmo]

I’ll not call anyone names who’s making a go of it on their own; I salute you, sir, however you get it done.

[strikemaster]

You’re going great it is working for you who cares what others think awesome still studying myself only using demo it might be awhile trying to see what works for me lol

[GilasTrading]

Shorted the DAX.

Bundesbank slashes German 2019 GDP forecast to 0.6% vs. 1.6% previous.

[Splitpink]

I love this thread - really it is the most encouraging I have read to date. Firstly it proves that you can still enjoy yourself and have a drink when you are trading and secondly it shows what is possible if you apply yourself. I have a burning question for you Gilas and forgive me if I have missed this somewhere in the thread already but I am not a great reader.

I notice you say 1% maximum risk per trade but then I notice that a lot of your tickets don’t actually have a stop loss so I was wondering how are you managing your risk or limiting it?

[GilasTrading]

I never said I risk 1% per trade. I actually don’t calculate how much I might lose in a trade.

As to how I limit risk, it’s by tranche entries and exits, trading in the direction of my funda bias as much as possible, and one key component is by withdrawing profits almost every day. Withdrawing profit I would say is the most powerful of all of the things I do with my risk management.

[Splitpink]

In which case I must have misinterpreted the first post on this thread where you wrote
"Rule now is 1% max loss per trade and 2% max loss per day. If the account goes larger I’ll shift to 0.5% max loss per trade and 1% max loss per day."
Did I read it wrong or does that not apply now?

[GilasTrading]

Oh hey, I did say that didn’t I? LOL. My bad. I don’t follow that anymore. Have changed my system and rules around beginning of May. That’s why if you look at myfxbook I wasn’t making that much in April and then suddenly I get a nice spike in profits in May.

[Splitpink]

That proves you are a human at least
Is the new method covered in the thread somewhere,l I plead guilty of skimming but quite happy to read it in full - I am fascinated by your growth and curious about your method and how your managing the money which has got you here.
I always say though, risk 5% for 10% if you want to grow an account but you need a pretty good edge for that size risk I reckon.