My Trading Log

[o990l6mh]

While you are still alive it looks like Tymen’s site is on life support. I expect someone will pull the plug shortly. Pity.

I had the suspicion from the start that it would fizzle out which is why I decided to stay here.

Does this mean that you are dropping the idea of trading 1 min TF? And are you still trading S&D on the 4 hour? If so, are you winning?

Nope, not giving up the 1min TF. It’s a hangup I have… I won’t be trading it until, if ever, I figure out a really good way of doing it, but I’ll keep working on it.

As for the 4H I am trading it on my main account although it has been few trades and far between due to other commitments, I’m up for the year so far. I think I’ve finally found something so simple that even I can’t screw it up. I’m looking at a possible way of trading the 1min charts using this same basic template.

I’m getting ready to post about it but first I have some old 1min charts from back in April to mark up and post. Without foregoing that, even though they look very enticing in hindsight I’m concerned that psychology might make it another story once traded live… I’m hoping the 1min approach I’m looking at now might give less room for interpretation.

I’m getting better at picking the levels & entries but still strangle my trades at times. I managed to make 3.5 pips yesterday when price retested a lower level. I thought it was safe to move my stop. Too soon again! I should be 50+ & still in the trade. :mad:

Don’t worry about that, as long as the method you’re using gives you an edge the equity curve will grow regardless of the little dents…

Like you I am looking for a consistent method to use on a smaller TF, maybe 30 min. Somewhere in the dark recesses of my brain I think I have an idea waiting to come to fruition, but I just can’t see it yet. That is this week’s work - I will spend some spare time looking at 30 & 60 min charts & try to ‘see’ how to make good entries.

I’m focusing on 4H and 1min since that’s what will work for me. When I’m at work I’ll be able to check in on the charts every 4H without problem, more often might be difficult.
When I’m at home and am able to be glued to the screen I’d like an approach that gives frequent trades with good win and reward rates (don’t we all). The “in between” time frames like 30m don’t match my life conditions as they are now.

I look forward to hearing what your new concept is. I am using a 50 SMA & Bollingers on most of my charts. The MA is as you say - for trend. And I feel naked without BBs; it just helps me identify where price is & whether it is more likely to consolidate, reverse or continue.

Yes, I use a kind of MA but only for bias decision. It’s really all they’re good for. Bollinger Bands look so compelling but I find it difficult to get anywhere with them. That said, I am actually using a BB for the 1min strat, but not applied to price itself.

I have also been experimenting with range bars. No conclusions yet, but have a look at the PSAR when they are placed on range bars. I may try & incorporate them in some fashion to help identify a good exit point from a short-term trade. Also something like an 8-10 period LWMA on close for an uptrend looks to follow price fairly well. But first I need to get INTO a WINNING trade before worrying too much about exits. :51:

Good trading.

I’ll be interested to follow along your development. Just be careful not to add too many indicators into the mix, that usually never ends well. I speak from experience.

I’m thinking about posting my method in the Trading Method of the Month Thread. Not sure yet though.

http://forums.babypips.com/free-forex-trading-systems/39141-forex-trading-system-month-june.html
http://forums.babypips.com/free-forex-trading-systems/39140-best-forex-trading-system-month-contest.html

In any case, good trading to you too!

[o990l6mh]

This may not be the most unbiased publication, but this article is well worth reading. The lesson you can learn is that if you want something done properly you can’t depend on outside help.

Johann Hari: It’s Not Only Strauss-Kahn Who Should Be on Trial. It’s the IMF Itself.

[o990l6mh]

@o990l6mh

Okay, found some extra energy, tomorrow’s zones:

http://i923.photobucket.com/albums/ad76/o990l6mh/49a40bdf.gif

Well, if it’s not one thing then it’s another. Suffering from a nasty cold currently

Let’s see if we can mark up the remaining 1min charts. The zones have been there for ages but I haven’t gotten around to doing the math on them.

First chart will be of April 19.

http://i923.photobucket.com/albums/ad76/o990l6mh/c0bdd869.gif

http://i923.photobucket.com/albums/ad76/o990l6mh/9969cb63.gif

http://i923.photobucket.com/albums/ad76/o990l6mh/f1e4f287.gif

Ok, potential results:

1. -1R
2. -1R
3. -1R
4. -1R
5. -1R
6. -1R
7. -1R
8. -1R
9. 4R
10. -1R
11. -1R
12. -1R

So that’s a very unimpressive -8R for that day. Yuck!

[o990l6mh]

http://i923.photobucket.com/albums/ad76/o990l6mh/fc11d770.gif

http://i923.photobucket.com/albums/ad76/o990l6mh/d1b4bc1c.gif

http://i923.photobucket.com/albums/ad76/o990l6mh/be6012c1.gif

Potential results:

1. 4R
2. 4R
3. -1R
4. 4R
5. -1R
6. 4R
7. -1R
8. -1R

Net result: +12R

[o990l6mh]

http://i923.photobucket.com/albums/ad76/o990l6mh/5a3ee6cf.gif

http://i923.photobucket.com/albums/ad76/o990l6mh/30981f99.gif

http://i923.photobucket.com/albums/ad76/o990l6mh/829b138d.gif

Potential results:

1. -1R
2. -1R
3. 4R
4. -1R
5. -1R
6. -1R
7. -1R
8. 4R
9. -1R
10. 4R

Net result: +5R

[o990l6mh]

Ok, well now that’s out of the way let’s get down to business. As we can see, this approach could probably be profitable, but I’m afraid that hindsight strongly overestimates the potential.

Like I’ve written in previous posts, I’m shelving this approach.

I’m going to start posting the method I’m using now. It’s still work in progress but the I think the major parts are there. I’m not sure how to present it yet, should I let the 1min approach be part of it or not? Things like that on my mind.

Anyway I’ve decided to enter it into the trading system of the month thread, provided I get around to posting it in time.

[madpipa]

Sounds like a good idea. Do you mean for June? I think you only have to end of next week for June’s entry (I could be wrong). Why not wait until July? It would give you more time to finalize anything you’re still trialling. And I think more people would have a chance to trial & comment on it if they have 4 weeks

I presume you will post a link too?

Good luck!

[o990l6mh]

Sounds like a good idea. Do you mean for June? I think you only have to end of next week for June’s entry (I could be wrong). Why not wait until July? It would give you more time to finalize anything you’re still trialling. And I think more people would have a chance to trial & comment on it if they have 4 weeks

I presume you will post a link too?

Good luck!

Sounds like good advice. I’ll take it and there we have it: I’ll be entering July’s Trading system of the month contest.

When I start the thread I’ll link to it from here.

[madpipa]

Me and my big mouth!!! Now I’ve got longer to wait.

10 days to go, and counting…

Also good to see DodgeV83 is still around. He is one good programmer!

[o990l6mh]

The work is in progress, I’m sketching on a few posts that will be fairly lengthy and that will make up the introduction.

Due to work and other commitments I’ve missed out on some pretty good setups last few days… Today’s drop on eurusd was not one of them though as my system gave no sell bias until much of the move was over and no retracement to catch either… unless the retrace is occurring as I write this. Tired like a puppy so I’ll find that out tomorrow

[o990l6mh]

You seem to be posting a lot less these days Magnus (almost as quiet as me!). Hope you’re not giving up on us Babypippers

No, still here. Just a lot of personal as well as work stuff going right now but no worries its mostly good. I’m hoping to have enough time to enter the July instalment of BP best trading system of the month.

All I need is a small modification to a indi (working on that) and I’ll be ready to go.

[o990l6mh]

Finally got it done: 301 Moved Permanently

Better get a cup of tea or something because it’s a longer read than I planned…

[o990l6mh]

Have you ever experienced a Eureka! moment? Well of course you have, we all have.

I happened to stumble upon TeamViewer - Free Remote Access and Remote Desktop Sharing over the Internet and suddenly I can now use MT4 at work without having to bring a laptop to work or anything. I just use it to securely logon and operate my home computer from work or even from my Android phone!

Absolutely amazing how well it works!

Just a tip for all those of you stuck behind company firewall or who do not work near a computer etc. And it’s free for personal use which is an added bonus.

[madpipa]

Finally got it done: 301 Moved Permanently

Better get a cup of tea or something because it’s a longer read than I planned…

Great! I’ve been waiting patiently. I just thought I would check your thread before turning the computer off. Now I have something to look forward to tomorrow - some exercise for my brain. I better not watch the end of the bike riding. It makes me too tired (finishes around 2-3am).

And yes, I have been using Teamviewer for about 2 years now. My wife’s elderly father used to have ‘problems’ with his computer. It made it easy for me to log in remotely & show him what he needed to know & fix things. A lot quicker than 140 km return trip every time. I also showed a mate of mine. He now manages his downloads at home from his workplace.

[o990l6mh]

Free huh? So what’s the catch?

Man I’m such a pessimist

None found yet. Only bad I’ve noticed is that it “freezes” if you leave it alone for to long, I guess it’s some sort of connection timeout. All you have to do is log out and in again. Really works well so far, very happy about my “discovery”

[o990l6mh]

Great! I’ve been waiting patiently. I just thought I would check your thread before turning the computer off. Now I have something to look forward to tomorrow - some exercise for my brain. I better not watch the end of the bike riding. It makes me too tired (finishes around 2-3am).

And yes, I have been using Teamviewer for about 2 years now. My wife’s elderly father used to have ‘problems’ with his computer. It made it easy for me to log in remotely & show him what he needed to know & fix things. A lot quicker than 140 km return trip every time. I also showed a mate of mine. He now manages his downloads at home from his workplace.

Tell me about it - don’t we all have elderly relatives with computer “problems”…

[Letseethepips]

Have you ever experienced a Eureka! moment? Well of course you have, we all have.

I happened to stumble upon TeamViewer - Free Remote Access and Remote Desktop Sharing over the Internet and suddenly I can now use MT4 at work without having to bring a laptop to work or anything. I just use it to securely logon and operate my home computer from work or even from my Android phone!

Absolutely amazing how well it works!

Just a tip for all those of you stuck behind company firewall or who do not work near a computer etc. And it’s free for personal use which is an added bonus.

Just experienced team viewer myself this monday.Friend from europe took over my computer and helped me with some issues with mt4 neat little program!

[o990l6mh]

I thought I should pop in and show that I’m still alive.

Lack of time is preventing me from trading right now. 4H just doesn’t play nice with helping out at the oral surgeon plus being the head of a clinic… As a result I’m in the process of developing a daily approach.

When it’s finished I’ll post it as a contestant for the Trading System of the Month thread.

[o990l6mh]

Another change in strategy Magnus?

Only three months of “succeed or bust” year left!

Well, not really a change in strategy. The basic approach remains the same as I continuously try to evolve it and currently also adapting it to a daily timeframe. I’ve improved the original approach quite a bit since the version I posted.
The trading year has been pretty good so far, actually best year since I started. Problem is that I’ve been unable to trade for parts of the year due to several reasons, the most important being the new job.

If I can end the year with current or better performance figures I’ll call it a success and continue. Before this year started I wasn’t sure if I could actually make it in trading. I now know that I can. The next question for me to answer now is, how badly do I want this? Might sound like a stupid question to most here, but I have a job I really like and I make a good living as it is. I think I do want it, but the decision hasn’t formed inside me yet. The thing is that I don’t want to “kinda” trade a bit on the side, there are better hobbies… I need to feel that I really [B]want[/B] this.

This video explains pretty well the difference between really wanting something and kinda wanting something:
Success: How bad do you want it? [VIDEO]

[madpipa]

I thought I should pop in and show that I’m still alive.

I’m glad to hear that!! I have been coming back to here occasionally to see if/when you would re-appear.

If you are going to the daily charts try searching for an Aussie named Nial Fuller. He has a number of methods to trade daily that appear valid & a number of videos & articles on his website. Maybe you could incorporate some of his approach into your method?

Glad to see you are well & busy with work. Remember - “don’t forget to stop & smell the roses”.
Good success!