Back with the results! What a day. I could have taken lots of pips but I was more concerned with the validity of the system even though at the time it had some flaws. All fixed up now!
AJ +18.6 pips
NJ +.2 pips
Nice.
So on to tonight’s trades. Found a beautiful trade tonight. Hopefully some of my studying pays off, granted I didn’t study very much. So I wouldn’t advise taking any of my trades for the next couple of weeks until my results prove themselves. That being said, My favorite pair tonight is CHF/JPY. New pair to me, never traded her before… however, all the pairs are are numbers and my system does not discriminate by country or name. By the way I didn’t look at any pairs other than yens (and I skipped GJ, I still have a grudge against her). I haven’t built the proper sheet for the other pairs yet (old sheet needs to be fixed like I did for the yens). Since I was too late for open, i placed a limit order on CHFJ tonight. If it doesn’t hit, no big deal, more than likely it will.
My limit was: 115.65 oh, almost forgot the direction. Long of course!
I expect CHFJ to have minimal drawdown which hasn’t occured yet (hence the limit order). If it doesn’t get hit, and CHFJ takes off no big deal, I will trade AJ, NJ, or most likely EJ tomorrow and will get in near the low for the day :). Those pairs are expected to have relatively high draw down before a reversal long assuming the system is right. That being said. most likely those pairs will be red until some point in American session or Asian session, So i get to rest up, wake up and see what happens and enter during American depending on what my CHFJ limit order does. This journal is getting quite fun
Be back around American session. Can’t wait, Sleep or trade well depending on your time zone and slay some pips!
I’m still trading my Leg0nd account as well. It has all my profit in it from before I made the new fxbook account. Started with $20 in the new fxbook acct, my leg0nd account has over $6, but the focus will be on the new account, after all it has fresh stats and is in our mini competition for april Be back in the am. Cheers!
Trade update time. I’m back. Looks like my CHFJ order got nailed! No surprise there. Look like the draw down was a little more than i expected, the trade is still a decent on though. I’m also under the impression that NJ is going to reverse soon, I didn’t get in at the low like planned, kinda was still asleep at the moment. Anyhow, I did enter and as long as the system is right, I am guaranteed at least 20 pips from her today
CHFJ: +15.5 pips
NJ: -1.2 pips (just entered long at 88.489)
Things are looking good. I really wish I had been more patient on my NJ entry. However, NJ should make a good 40+ pip move up later on today at some point. Probably Asian session is my bet. Really wish I had more margin! AJ looks beautiful to buy soon as well…
It’s just a little fun contest we are having. To see who can turn $20 into the most I suppose by the end of April. Money took a hit yesterday which sucks :(. Me on the other hand, I have been trading much more consistently lately. both accounts should be green for the month now. Found a colossal error in my spreadsheet yesterday… Fixed several “bugs” so to speak and I believe my results shall skyrocket. We will see though right? Hope you will be able to get back into trading next week
This will be 2 months in a row green for me if I can keep it up!
Okay back to the important stuff. Trade updates:
Closed my CHFJ trade with +11.5 pips profit
Entered a few more positions in NJ. which is about to make a big move by the way (noticeable in spread).
Will see what happens. I don’t want to post any red numbers right now so I will keep the negativity off this post
I see… good but 1 month challenge is kinda short don’t you think? but I guess it doesn’t matter if it is just for fun…
2nd positive month for you?..that’s great! I always keep in my mind to plan for the worse and hope for the best lol I know I will have a losing month/s eventually. I have done it before where I was so good in 3-4 months then the next month , dont know what it is , but I was keep on losing! But we will see…
True that. I’m not sure if I have ever had 2 positive consecutive months. The month isn’t quite over yet either so hopefully I can hang in there! Plan for the worst huh? So so you have rules set up to stop you from trading once you lose a certain amount or whatnot?
Back then I was following all the rules that I have but then I felt like I am very limited of what I can do. I think I like more having flexibility on my trades. So maybe if I lose say 5% I stop…Well, I should but will see…lol
[QUOTE=“PipNRoll;619977”] Back then I was following all the rules that I have but then I felt like I am very limited of what I can do. I think I like more having flexibility on my trades. So maybe if I lose say 5% I stop…Well, I should but will see…lol[/QUOTE]
Sounds reasonable. I like flexibility as well. My rules are not written down, but I do always follow the critical ones. 5% loss makes you just stop for the day? Week?
God**** I took a hit. F*** I am so mad. At my self of course. Granted after I updated everything I have to relearn hella lot. But it was obvious as F*** I should have sold NJ today. My y ass decided not to even go back over the sheet while just watching the market all day. Will not make that mistake again. damn. Guess I going to search hard tonight to find a good pair to trade. 20 days left to turn my account green. Great. Oh well sh happens and I will do my best to be more prepared. Be back in a bit to take the new trade tonight. no possibility for a recovery trade because stupid b* ass NJ is going to sell tomorrow. F***…
Today’s trade. Obvious as hell, don’t even need a system to call this.
NJ short
I got in at 87.777
I’m in hella, high risk from now on out. I’m tired of this 50% account bs (would have saved my ass yesterday… but more fire under the kettle, the more likely I am to pay more attention to what the heck I am doing).
lol I get ****y as hell sometimes. Clearly the market was like go against me today screw this guy. But hey its okay market. I know i got you figured out and i feel stupid for even trading today. I’m probably just going to take the loss today. risked hella so my account got raped. All good though. I am on the right track now. I have two weeks left and I can easily double my small account assuming I decide to trade.
On the bright side. I’m actually getting really serious about trading now especially since I am getting a nice full time job so I can start trading some real money very soon. That being said I have a lot of work to do. This system since I made a few updates, completely changed the game and how I trade. It’s not necessary more difficult to trade… It should be easier, but I know very little about it right now. I have to determine the ranges in the data I can trade, which set of data output has the highest statistical probability of producing a winning trade worth trading, and which set of output to stay away from. Todays NJ was a perfect example of what not to do and assume. All that being said, I am working with a member on the forum to hopefully jump start the rigorous back testing process I know is absolutely necessary to nail down the exact rules I intend on trading. Another member on the forum is also contributing his insight which will be greatly appreciated. Plus I have to work on my emotional fortitude, mental strength, irrationality, and extreme high risk mentality… the last one is going to be hard to reverse, the others hopefully not quite as difficult.
Goals for the weekend. Back test 1 year of data for at least 1 pair. Start nailing down the rules, and hopefully have something I can actually start trading come Monday. Will see. Be back later with my decision on what I want to do with my nj fail trade.
Lol you have no idea how mad I was. Especially at myself. I got so used to trading flawed stats, and to my surprise… Half way successfully. Then when I actually set everything right, fixed the my sheet which is flawless now… I f’d up on the first and second day even though it’s much easier, and obvious what I should have done. Not trade until I actually learn how to trade it via testing. Man do I feel stupid. Guess that’s what happens when I feel like a hot shot lol. Sucks I have to practically restart, and do hella work again even though the concept hasn’t changed…
The agression and the trawler concept you use is your edge. It is ultimately what will make you “that money”. The flip side of it is that you are going to have to be as good as your system and that means your execution. Your mistakes are not worse but they are amplified by the nature of your system. Dont doubt yourself! Dont worry about the mistake. Practice the skill. You posess the skill and the mistake will leave you alone. Practic practice practice…the elite in any field umderstand this and do it religiously. What people see is only the performance, the execution. If you have to be as good as your system you will have to put a similar amount of time into yourself as you do into your system. Have a great weekend. You are still “that guy”!!!
XD. Thanks a lot winspych! I’m going to post the back testing results from april in just a little while. Hopefully you guys will be able to see what i see.
I have really evaluated my particular style/approach to trading. Even though I am pretty upset I didn’t test nearly as much as I wanted to today. I am happy with the results I have gotten thus far. This upcoming week, assuming I am ready which I won’t know til Monday evening… I’m only taking the highest probability trades I can take via a pattern formation I have studied in the data output I have in my spreadsheet. I’m eliminating most pairs I watch and am only focusing on the very high volatile ones. For now on I am only watching EJ, EN, GN, GJ, maybe EU, and it think thats it. I am only interested in trading if the data suggests the pair will move at least 100 pips from open to close. I will probably be setting around a 40 pip stop depending on if the data suggests low drawdown. If high draw down I will be setting an 100 pip stop to be safe. If the data doesn’t suggest any of these pairs are not going to move at least 100 pips from open and close 100 pips from open, I am no longer interested in trading that day. I don’t care to know what every pair is going to do per day or even if I can figure out exactly which direction the pairs I watch are going to move for the day. So that being said, I will be happy to get 2 trades a week, if not 3-5 if its a really nice week. We will see. Anyhow, back to testing. Have a great weekend everyone!
Have you ever consider about taking a little break for now? This is what I do when I have a losing streak. No matter what data tells you, you are still the one who will place on that trade and manually doing it. Sometimes it is best to just sit back and don’t do any trades and help to calm yourself down. Think about the best trade you have had. Is it because you have a great data in front of you or is it because you are in a neutral state of mind? If you have a good data follow by a neutral state of mind, you will have a better chance to catch a good trade rather than being in a upset mode or in excited mode… Learn to be neutral…
Hey buddy rule number one about trading is Discipline. Discipline especially in the area of controlling your emotions by which the looks of your posts aren’t well managed. I’ve been there myself and part of being a trader and the difficulty of being a consistent winner is dealing with your emotions. The journey to get a firm grasp of what truly matters when under fire is a road filled with much adversity and my advice would be ; don’t be afraid to lose as a matter of fact try to accept your losses with rewards. For example if you lose a trade go and have an ice cream or even go as far and jump up and rejoice with shouts of joy for losing!(that’s what i did). It might sound odd at first but coming to accept responsibility is very liberating and will remove your fear and greed aspects of trading. Once you are no longer afraid of taking a loss genuinely you will be able to perceive the market data with new insight and your trading will elevate to a new level of profits. Success is not a destination it’s a journey.
