My Trading Log

[o990l6mh]

Yes it went completely haywire. And none of the members that are usually blamed by newbie clowns for destroying “good” threads were involved.

It’s become quite a mess and I don’t know what to believe really so my interest in the thread died away, removed my subscription yesterday. Dead pips huh ;). Something didn’t quite smell right about it though, I’ll go as far as to say that. All in all, his trading style reminded me of raczekfx and his touch trades. Which is to say that pretty much all worthwile trading methods are covered somewhere in the J16 thread / ATT threads / a few others anyway.

Forums like BP are rougher places than one would think. Sometimes I wonder what the average age is of the users here, it’s probably lower than I’d like to guess. It’s easy enough to spot the few members whose posts are actually worth reading. And that’s not just a BP phenomenon, it’s the same really over at FF.

Those with enough mental maturity tend to find the useful threads after a while. The rest… well that’s sadly obvious.

[o990l6mh]

Let’s start with Silver which get’s an A for good behavior today:

Not quite so happy with EURGBP which is having trouble moving lower. We did however make a new low today and it closed as a weak bearish bar with an unpleasantly long lower wick. Patience is the traders best friend and i will keep sitting on hands.
Chart:

[o990l6mh]

@MattW2009

Somehow I fu**ed up on my Oanda orders again. My CAD/JPY loss cost me $40 on my $125,000 balance. That’s about 0.032% risk, not 2%!. Aaargh wish I knew what was going on. I think these pipettes are confounding the issue.

Sounds like it.

To avoid that I’ll first figure out in FXPro how many pips my SL should be,

Then I use the order window in Oanda to test what lot size is correct for that SL, using the market order tab

After that I switch from the market order tab to the limit order tab and input the lot size I’ve figured along with entry price and stop loss price, not pip distance:

That’s where I can see if everything is correct before clicking the submit button. Once you get used to it you’ll find it’s a very smooth way of doing it actually.

[o990l6mh]

Nothing much new on the trades today. EURGBP still the shaky one, still holding.

Tomorrow or during the weekend I’m going to make one more post update regarding DailyFX. I’m also going to respond to wrtm earlier post about volume/VSA.

[purplepatchforex]

Isn’t this an odd game, been having a few pips here and there all week, and then this morning 7PIPS in 10 minutes trading, I normally don’t trade on Fridays, but profits have been a little low recently and the market has been looking good for my strategy, so I thought it would be worth it.

So a nice end to the week with the 7 PIPS this morning, total for the week 20, making a rather pleasing 6%+ return this week.

[o990l6mh]

Isn’t this an odd game, been having a few pips here and there all week, and then this morning 7PIPS in 10 minutes trading, I normally don’t trade on Fridays, but profits have been a little low recently and the market has been looking good for my strategy, so I thought it would be worth it.

So a nice end to the week with the 7 PIPS this morning, total for the week 20, making a rather pleasing 6%+ return this week.

I’m impressed with your trading psychology. I don’t think I could muster the patience to watch price ticks for hours like that waiting for the right behavior.

Well done

[purplepatchforex]

It’s odd isn’t it, by doing that I end up trading for about 6 hours a week, and I’ve tried everything under the sun, and the benefits of doing it this way is immense, you don’t have to think, you don’t get stressed about it.

Thing about the patience thing is, that it really doesn’t take much patience now, the big patience requirement was when I decided to stop trading a profitable method, with a wildish profit curve, to learn to do this, which gives me a nice smooth unstressful profit curve.

Thing is with psychology, I’m a big fan of this NLP/EFT stuff and I’m convinced you can reprogram your brain to make it do what you want, it worked with going up ladders! I used to feel dizzy standing on a chair, but after a bit of NLP I’m quite comfortable 20 feet up a ladder! I also used it to help quit smoking!

[o990l6mh]

I know - I said I’d leave DailyFX alone, and I will. Right after this. I feel a need to post about this because its message to us is so profound.

Currently Mr Kruger are in 4 trades, 3 of which have no stop losses.

[I]GBPAUD long from 1.6650, position size 5X equity - no SL

EURCHF long from 1.4275, position size 5X equity - SL at 1.4225

EURAUD long from 1.5175, position size 5X equity - no SL

EURCAD long from 1.4375, position size 5X equity - no SL[/I]

Now, EUR made a bit of a comeback during Friday, but I’m interested in seeing how bad a drawdown he had at the worst. I’ve calculated it and here it is:

EURAUD -19% (roughly -570 pips at its worst)
EURCAD -28% (roughly -780 pips at its worst)
EURCHF negligible
GBPAUD 13.5% (roughly -370 pips at its worst)

With an account that’s already down 10% since its start at New year, that means what?

Well, if the trades had been closed at their worst, [B]the account loss would now have been 70.5%!!![/B] That’s pretty stunning don’t you think?
DailyFX run a quasi trade recommendation service that, at one point last week, had an account worth 29.5% of the starting balance, if adding unrealized losses and realized losses together. :eek:

Now that’s what I call good sound trading! :rolleyes:

What sort of a person in his/her right mind would endure a 780 pip drawdown? Well, the answer is apparently Joel Kruger… I feel for any unfortunate soul who’s been following him. I bet he’s not risking his own money on this… only thing at risk here for him would be his job. And seeing how the trades are still deep in it, he and his job aren’t out of it yet…

Now, I’m currently in drawdown myself, but the difference is that I know exactly how much I may lose. And even if I do lose the current two trades, I’ll still be positive for the year so far. I sort of wonder what would happen if EUR just keeps dropping, when will Mr Kruger accept defeat and close for huge losses? My guess is he won’t, he’s in the realm of all or nothing now. A place a trader [B]NEVER [/B]wants to be in. That realm is reserved for gamblers.

Al right, this about that. Now I really promise I won’t be nagging more about this.

[o990l6mh]

Elsewhere I’ve seen people notice the fact that NZDUSD is showing inside bars on monthly, weekly and daily. I’m biased towards the short side but I’m not seeing a setup that fits my criteria. And I’m already at 4% risk, so no trade here or at all.

Gold broke through the rising trendline and then retested it on Friday, closing below. It’s not my trading style, but I can see the logic in going short here for great risk/reward.
USDJPY behaved in similar fashion and a long here makes the same kind of sense.

EURJPY is displaying a HS pattern on daily and a break of that might be a long trade to play for some. Not for me though.

I’m sitting on hands and waiting patiently to see where my current two trades are going.

[purplepatchforex]

I admire your patience I certainly wouldn’t have the patience to watch my money going up and down all day!

[o990l6mh]

I admire your patience I certainly wouldn’t have the patience to watch my money going up and down all day!

Yes, it does take patience. Learning to be patient is one of the positive side effects of trading like this

[o990l6mh]

Silver made a strong bullish bar today and is now approaching the 17.50 resistance. If that breaks I have a feeling I’ll have to record a losing trade. If it holds, then we have a triple top and things will be looking much brighter.
Can we have a turn around Tuesday…? pretty please

EURGBP gapped up and proceeded to trade beneath the open all day.

In essence - more handsitting.

I won’t be taking either gold or USDJPY due to my rules, but I’ll watch them with interest. I think there are moves coming soon and I know where my bias is.

[o990l6mh]

EURGBP is finally back in the money. Let’s see if it stays that way.

Silver hasn’t made any convincing retreat from yesterday’s high, but then again it hasn’t been able to move higher. In other words, indecision as it’s being fought out around the resistance level above. I’m hoping bears will win, but I’m prepared for a loss here.

[o990l6mh]

I have to confess that I’m a bit annoyed right now.

When I checked the charts at work today silver had traded as high as 16.63, as I come home late after the gym and turn on the computer, what do I find?

Silver has been stopped out on FXPro. Of course I assumed that it had gone higher and triggered my SL, but when opening Oanda I see that there’s been no new high and the trade is still alive on my live account.

Obviously there’s a slight discrepancy in price ticks and spread between the two but the result has been that silver triggered on FXPro many days before it finally triggered on Oanda and now it’s been stopped out on FXPro while still being active on Oanda.

I was planning to use the FXPro demo to track my trades on MT4Pips so that anyone could see what a poor trader I am :D, but now I’m not so sure that’s going to work. If, by any chance, silver happens to turn and let me have a profit or a BE trade, that will mean Oanda and FXPro won’t be synchronized at all any more.

I’m going to look over alternative ways of publicly tracking my trades. I’ll look into myfxbook since they support Oanda and I’ll consider meetpips too.
Currensee now supports Oanda too, but as I understand it I’d have to trust them with my Oanda login info, which is completely out of the question.

Other than that, if my silver trade, and eurgbp for that matter, just survive until the FXPro platforms daily close I’ll record a 0% month, which means I can add more funds to my account.

[purplepatchforex]

As far as I know, you’re going to struggle to do that with Oanda, I’d say if you run any 2 different brokers you’ll get a discrepancy at some time or another, I used to do a lot of trading with Oanda and charting with Mt4, and at least once a week it would happen by anything up to 10 PIPS maybe.

I applaud your efforts, let me know if you need any help with it, the only approach which I can think of is reading the transaction history page from Oanda every second and sending the info from there.

Shame it’s not the other way round, I can get any info from anywhere to anywhere with MT4.

[o990l6mh]

As far as I know, you’re going to struggle to do that with Oanda, I’d say if you run any 2 different brokers you’ll get a discrepancy at some time or another, I used to do a lot of trading with Oanda and charting with Mt4, and at least once a week it would happen by anything up to 10 PIPS maybe.

I applaud your efforts, let me know if you need any help with it, the only approach which I can think of is reading the transaction history page from Oanda every second and sending the info from there.

Shame it’s not the other way round, I can get any info from anywhere to anywhere with MT4.

Yes, from memory I seem to recall that’s how myfxbook works, it retrieves the transaction list from oanda. I’m thinking I could either use a demo or my live account depending on how security and privacy works with them.

I’ll be looking into that more soon.

[purplepatchforex]

If you had a page that has a meta refresh tag of say 1 sec, that opens a new popup of a file called readreport.php that has something like - $html = implode(’’, file(‘http://www.example.com/’));

Then you could write a routine to read the first transaction from the $html variable and send it to MT4pips.

Simple yes?

[o990l6mh]

If you had a page that has a meta refresh tag of say 1 sec, that opens a new popup of a file called readreport.php that has something like - $html = implode(’’, file(‘http://www.example.com/’));

Then you could write a routine to read the first transaction from the $html variable and send it to MT4pips.

Simple yes?

That was pure Greek to me

Sounds clever though it’s far above my level of computer literacy

[purplepatchforex]

It’s not very clever at all, it’s bit of a hack, I’m not promising anything, but I’ll have a quick stab at it, how does Metatrader update MT4pips, do they have an EA or indicator to do it?

[o990l6mh]

@purplepatchforex

It’s not very clever at all, it’s bit of a hack, I’m not promising anything, but I’ll have a quick stab at it, how does Metatrader update MT4pips, do they have an EA or indicator to do it?

No, it uses the publisher function: