for those who may be interested… heres’s a screen shot of my futures trading from yesterday.
light day. 3 trades. 66% winners. over $500 up for the day (i typed earlier over $600… well it turns out i forgot how much it really was…lol)
Anyway, here u have it.
Uploaded with ImageShack.us
Jay
P.S. this wil very likely be my result for the week…as I don’t intend to trade the rest of this week.
eur/usd entered short at 1.3540
27 stop, 40 target.
adjusted down my risk…risking 0.25%
will cover half position at 1.3510
the other half at 1.3465
Or… of course stopping outs always an option too!
Jay
Covered entire short at 1.3538
Welll… this is always the hardest trade for me to make. And it’s almost always the best trade.
It just going to be a down day. aud/usd, gbp/usd, and a trade from the other day, usd/jpy all stopped out.
eur/usd was marginally profitable today… I think
RIght now, i’m exhaused. I have one order set up on eur/usd at 1.3457. 35 pip stop, 70 pip target. Stop moved to BE +1 at 35 pips.
Other than that…going to bed. Will update the thread with the dollar amount and loss percentage and all that good stuff.
Will likely take the rest of the week off. Still undecided about tomorrow, but unless something knocks me over when I look at the charts, this will be it for me.
Still net profitable since beginning this project… but will have to speed things up as time goes on. Looking forward to a good 2 weeks in december, and then will be off the markets for a few weeks.
I am very excited to look through these trades over the holiday…and really pick apart what was off for today.
I will post those results by this coming monday.
Jay
almost forgot to mention…risking 0.30% on eur/usd long at 1.3457
Jay
Hmm, just to grab that recipe buzzword and write what I think. No person or anything in mind and not even sure if I am right. Yes I am thankful too, that eremarket tells something behind the trades what he is doing. Why.
Okay recipes. I am a pilot. What do I know about flying? Probably not much. Because I follow simple recipes. 
Do checklist here and checklist there, do this and that if such happens, etc. I’d probably be lost if somebody would ask me to fly without any checklist. No not probably. FOR SURE! And know what? Almost every pilot does it. Using checklists. Because without flying would be even more uncertain as it is already.
Ok, then we have test pilots. I don’t know if they have checklists, but they for sure must do something what has nobody done before: For instance fly a brand new model. Well, the manufacturer of aircraft generate for sure checklists. On the other hand, those ppl who do create checklists should know what they do without checklist, do they? I hope so. What I mean is that at the source of the chain somebody must create those checklists …
Hmm, just trying to think more about it …
Sorry if I went a little off the road.
Nice analogy bucks… Reminded me about Star Trek in a syfy way hahahah
Jay, keep your thoughts on the right way and it will help you in this struggling moment!
and a hip-hip-uha! to scalping futures and the cleaner charts they have.
[I]"Go johnny go, go! Go johnny go, go! Johnny be good.[/I]
Keep it up the solid work!
Jay,
I’m posting to cheer you on, and to say you have another observer, and if I may, throw out a few questions.
From a logistical standpoint, does your broker have a limit on your account size? If your strategy gets you going in the direction you want to go in, will you have to move your account somewhere else right in the middle of things? For instance, I just signed up with FinFX, and their account limit for the type I signed up for is $300K. Perhaps it doesn’t matter if you have to switch the account somewhere else…just thinking that maybe what you have developed may not perform exactly the same on another platform if you do have to move.
Wishing you the best of luck! I really like the self-awareness aspect of your thread, as I think that is something that can be useful to anyone, in any area of life.
Thanks!
sean
Ok… so the last trading day for me this month was a disappointment. down about 1.25%.
[B]Current balance is $1,006.93[/B]
Although I did expect to see better results than this about 1 month into this project, I also expect my first month to be my worst month, as I am adjusting my own trading a bit to spot forex, and using this thread as an opportunity to step it up a notch…and therefore, I expect mistakes to be made.
New mistakes for me that I haven’t developed a plan or rules around to extract the benefits without exposing myself to unnecessary risks. Learning to trade is largely a trial and error process IMO, and stepping out of my comfort zone would practically require less success in the near term in exchange for more success in the later stage of this experiment.
At any rate…a very marginally profitable month. In december, I will continue to trade light, due to the holiday. I would like to have a 5% increase in my account by January 9th… and if this is the case I will start trading a 0.50% risk per trade.
Once I get up to about 10%-15% profit…I will bump this up to about 0.75% - 1% risk per trade… and likely keep things there until mid summer 2012.
Looking forward to a more profitable december!
Jay
Good to see a methodical progression, and it gives me guidance for how I should ease my way into realtime forex in jan.
Hey everyone… it seems i’ve just been getting busier and busier here on babypips…and I must say it’s been a really great experience so far, teaching, learning, sharing…etc.
Over the past few weeks, I’ve seen quite a few new faces, and gotten to know some of the more prolific names on this board a bit better. I feel more a part of this little community these days than ever before, and for those of you that know me here best probably know that I’m interested in helping as many as I can learn to trade better.
What that being said, i’m using this post to announce two new contributions I will be making here:
Jay’s new and improved free trading webinars!
Jay’s babypips book club!
For the webinars, I’ve decided to do an entire series that will cover a variety of trading concepts that I use in my every day trading. I will be posting days and times for each webinar as they approach. THESE WILL NOT BE RECORDED.
However, I am interested in making sure that any webinar I give will be offered at the most convienent time for all who wish to attend…
so I need YOU FOLKS to please R.S.V.P. for each webinar you are interested in, and choose one of the 3 times that works best for you to attend.
The actual time for the webinar will be based solely on which time slot has the most people RSVP, so please be proactive here folks and R.S.V.P. for the webinars and times you wish to attend.
Here is a list of what’s coming up:
[B]WEBINAR 1: High Probability Supply Demand Level Trading [/B]- [I]Learn where the market is most likley to turn, and how you can best capitalize on these turning points to start making consistent money in the markets[/I]
I’m going to go over in more detail, and from some different perspectives how I determine the highest probability supply and demand zones to pinpoint market turning points. For those of you looking for a distinctive edge in the market… this is one of the best ones I personally use.
If you are interested in webinar 1: please send me a PM OR post in this thread what time you would like to attend:
Sunday November 27th at 11:30 P.M. E.S.T. (new york time) - this is 3.5 hours[I] before [/I]london opens
Monday, November 28th at 5:00 A.M E.S.T. (new york time) - this is 2 hours [I]after[/I] london opens.
RSVP in this thread, or send me a PM. Whichever time slot has the most interest will be the one that I give the webinar.
====================================================
[B]
WEBINAR 2: The REAL secret to success - A trading plan![/B] This is probably a traders most valuable tool in their entire trading toolkit… so valuable that it’s safe to say 90% of professional traders have one…and yet 90% of amature traders don’t. If you are struggling with any component of your trading, from you method to discipline to consistency to just not even knowing why you arn’t making money…this webinar IS A MUST! You will learn here what types of things go into a trading plan, and how a well done plan virtually guarantees your success in the markets.
If you are interested in webinar 2: please send me a PM OR post in this thread what time you would like to attend:
Wednesday November 30th at 11:30 P.M. E.S.T. (new york time) - this is 3.5 hours[I] before [/I]london opens
Thursday, December 1st at 5:00 A.M E.S.T. (new york time) - this is 2 hours [I]after[/I] london opens.
RSVP in this thread, or send me a PM. Whichever time slot has the most interest will be the one that I give the webinar.
============================================
Other webinar topics are going to be listed below, and more information will be made available once I am able to determine a day and schedule for them
How I read price action in conjunction with classical S/R
Market Sentiment… (AKA how to keep your breakout trades from becoming “false breakouts”)
Preparing for the trading day - Learn how to develop more controlled trading habits, and have higher probability trades,
just by preparing the RIGHT WAY for each trading day.
Market Correlations/market strength concepts - Trade with the wind at your back…not against your face!
Trading Psychology - the single most important piece of all. This webinar will be interactive…so I expect those who
attend to be prepared to discuss some of their current struggles in their trading with the group. It’s time to fix your problem, and create a mindset of discipline, patience, and success.
Scalping the Forex Spot Market - for all you scalpers out there… it’s time that (most of you) quit spinning your wheels,
and learn how to more effectively make scalping a profitable endeavor in the spot forex market.
DAYS AND TIMES ON WEBINAR 3 - 8 TO BE ANNOUNCED!
==================================================
Please guys, do RSVP. you will determine the time the webinar starts by doing so. You can attend as many as you would like, but they will not be recorded…so please, don’t ask. I’m not a techie guys… I just like to help out.
Hope to see many of you there.
Jay
P.S. Jays babypips book club will be announced shortly…I will create a seperate thread for it…and post a link here so you can find out all about it!
good luck sir hope all ends good!
Hi Jay,
I would be keen on the sessions that start 2 hours after london opens on both webinars!
Cheers
Nov 27 11:30 p.m EST works for me 
Hi Jay
Can you advise a Newbie on a broker to use with only $1,000 start up account ? I’m bamboozled with all of them ! also where are your Webinars posted so I can log in and learn more ?
Thanks,
Ok guys…took 1 trade in eur/usd…perfect setup IMO…or at least very good
long at 1.3300
stop 26 pips
target 50 pips
risking 0.20%
stop moved to 1.3288 on half the position. Reducing risk by about 1/4 of the original amount.
Hi Jay 2 hours after London open for both webinars is good for me.
Thanks
stopped out on first entry.
long again from 1.3266.
40 pip stop
80 pip target
risking 0.15%
also, a 2nd order long at 1.3260
35 pip stop
70 pip target, risking 0.10%