Hello,
I closed last month with 4 weeks in a row w/o loss (P/L is calculated on weekly basis).
I had few several issues:
- watching for losses in real money was killing me
- calculating position size according to acceptable risk
- position size increasing after successful periods
- missing moving to B/E in a certain condition
- opening trades during dead time
- over trading & trading discipline in general
- and other stuff which I don’t remember now
I needed a tool to help me isolate myself from real money numbers, and automate a lot of stuff - moving to B/E, position sizing, different set of restrictions.
So I wrote telegram bot for myself which only support trading with Oanda broker.
Bot understands commands like:
order sell cad 1.36
It will open sell order for usd_cad with stop loss at 1.3600 and set TP with RR set in settings.
close eur_gbp
It will close order right away.
trades
prints you open trades with ONLY PIPS, NO REAL MONEY numbers, Sample:
Trades:
USD_CAD sell at 1.35812 40.9 pips SL:B/E TP:15.5 pips
EUR_USD buy at 1.12964 41.4 pips SL:B/E TP:55.8 pips
It can also report something like this:
moving USD_CAD to B/E
Extra things like:
- Logging all your thoughts during trading week
log “good setup on nzd_usd but weekly plan is done”
- All trades are added to trading journal for further analysis with screenshots of setup (from Tradingview)
- Bot is doing weekly review and increasing risk percentage based on results of the week.
So I NEVER see real money numbers. It is much easier to trade now.
Some details about strategy - Price action, 1H+ charts, liquid pairs (majors, eur_bgp + jpy pairs), no news/calendars. Last one and I think very important - timing.
Best book IMHO - Trading in the zone.
P.S. Honestly, there was 1 technical loss cuz bug in a bot during trade close.