Post your daily loss/profit

Beginner Questions
218

I wanted to start another trade but because EUR-JPY is now near to tunnel of EMA144 and EMA196 (my green lines) I was looking for another pair and GBP-JPY looks good to me. So here is my third real time certicex system test trade. Same strategy as for EUR-JPY. Initial setting using 0.2 Lot:
pos 1: Sold at 241.32 Limit 240.92 (40pips lower)
pos 2: Sell Order at 241.62 (pos1 + 30) Limit 241.22 (40pips lower)
pos 3: Sell Order at 241.92 (pos2 + 30) Limit 241.52 (40pips lower)

Now I just need to watch it and when Sell order is executed move Limit of previous position higher… not watch it all the time though. I am going to sleep and looking forward to seeing chart in the morning… I will update this post then.

To replay to markofrespect11 - I am using VT trade platform if that was the question.

I woke up in the morning and see disaster - Certicex help me. And to be worst there is interest -$16 for each trade! But calm down. I move all limits to lets say 241.32 so my goal is take more profit to cover interest, and I am going to set another pending Sell order to 242.22:

Meanwhile price reversed and 3-rd position bacame positive. But then it went up again and my loss was more than $300. 4-th sell order was executed and looks like price is reversing down. I still do have $700 usable margin so no worries. Only thing worries me is interest if I stay another day in trade.

219

no not with your system but i still lose.!!

220

then try my system man it is easy

221

ok ill give it a shot.where do i get it from?

222

page 18 in this thread

223

hi kuni just to let you know you broke rule number 3 of my system and you gonna pay for it soon.to use standard (no micro or mini lot) 0.2 lot size with only 1000$ account is too dangerous and you will find it out soon.

wish you a good luck

224

alright guys i see all of you are using the minimum parameters with my system or braking my rules so i decide to change the system i bit so please check the system on page 18 again.the most important part entry.

have a good one

225

Certicex and others, I know, I am aware about rule 3 - using only 0.1 lot for small acount but for the sake of testing I had to try it :frowning: . I thought I had a lot of usable margine but [B]I was wrong[/B] it was good lesson for me. [B]BE AWARE OF THAT!!! [/B]My test trade 3 is stil ON but I had to close position 1 and 2 and loose $500 to avoid margin call (no usable margin). If I was using 0.1 Lot I would not have any trouble to stay in this trade with 4 or 5 positions.

BTW - GBP/JPY pair has more movement than EUR/JPY and probably needs rule adjustmens.

Here is my trade now, positions 1 and 2 is gone, just a little usable margin and two open positions 3. and 4 but still in trade :wink: :

226

Hi all. Well no magic has happened and this is an example of 95% of loosing beginner traders. Thanks god demo accounts exist. :eek:
I’ll be back soon.
Kuni

227

Hi all,
i am new to this forum though i have been trading forex for past 5 years and also post on other forums. But tell me, why would someone want to short GBPJPY at this point of time. To me, thats sheer distaster. all crosses are in uptrend. So your best choice would be to buy on dips or wait for a correction…

228

hi man and welcome at babypips
i don�t know if you red this thread but if you would you would know why and i just give you an example.

while he made 104 pips and made this

you can find this original posts on page 12 of this thread.
have a good one and enjoy the babypips forum.

229

It is difficult to stop and count every single pip on Oanda so I’ll talk cash right now. Perhaps later this week I’ll stop a do my pip count review.

I started live with 980.00. Made about 10.00 first day. Got greedy and my account went down to 922. Since then I’ve been slowly climbing upward. I decided to create sub-accounts for different systems.

I continue to operate four accounts in Oanda in an effort to apply several methods and hedge pairs. The best performer is the carry trade basket. The primary and the hedge/signals accounts are oscillating! Certicex System has not moved yet. For now I’m looking at account balance, not Net Asset Value. So as of this post we are at:

  1. Primary: $211.98 (-58.02)
  2. Hedge/Signal: $257.10 (+7.10)
  3. Certicex Way: $210.10 (+0.10, not touched positions, details later)
  4. Carry basket: $262.13 (+12.13)

Total = $941.31

230

i did some changes for you all and it is all in pdf file what is very cool so check it out on page 18

have a good one

231

Luckily I’m on Oanda with very small lots and low leverage. I got impatient with seeing my NAV dwindling and no retracement of GBP/JPY in sight so I closed all the short trades at a loss. Closed short too on EUR/JPY. Closed them all with a loss of $16.12.

From now on will only do my hybrid of system which is interest positive gridding. Time may prove me wrong but I will not stand by and lose interest and NAV for so long.

I am editing this later in June and readily admit that I was not properly following certicex System.

232

well everything comes to those who are patient and test system with live account is really silly bcos you will never get confident or even find your own adjustment.one more thing i hope you red my rules and in one of them is written don�t use two pairs in one account and use gbp/jpy and eur/jpy is almost the same.

have a good one and keep it up

233

BTW i made around 500 pips from Monday 11th to Wednesday 13th with my system.

234

Thanks teacher for the slap on the wrist, however there are two observations I must make.

  1. You are only half-right when you say I test system on live account. I demo it successfully as I wrote in earlier post. My demo was not the classic certicex way but a hybrid between certicex way and interest positive gridding for carry trade interest. In other words I was not losing both interest and NAV at the same time. You may recall me saying I admire the principle of the system. When I went live I switched to the classic Certicex Way Manual (without the leverage as you know). Micro lots, micro leverage.

  2. In fact I started with gbp/jpy only. It was my impatience that caused me to add the second pair when I saw gbp/jpy going north when I was short.

Seems I’ve been a victim of my own impatience. Plus I should have kept on doing what was working in demo, that is, I had tweaked your system and was using only the working principle of scaling in interest positve. Which I am now discovering from the forums is the way many traders do the carry trade.

I still commend you for coming here and opening the eyes of newbies like me on how to scale into a trade and hold for long period. My major weakness is that I got discouraged and impatient as days passed and there was no significant retracement.

Perhaps if I had enough capital I would feel comfortable waiting so long. Meanwhile I have gone back to what I was successfully doing in demo and I am already building back my capital. I have added other carry trade pairs to the account.

What are your thoughts on the carry trade? Perhaps you could research the carry trade and create a certicex B which reduces the anxiety of waiting by providing daily interest.

235

Hi Forexology, I am a newbe too and as you could see testing certicex’s system. Can yo explain or point me to some link what carry trade is? TX

236

Instantly after my first demo account was washed out I opened new $1000 demo and started again. But now I am going to stick to the rules - 0.1Lot per trade. Bigger distance from tunnel to start, more spread between two positions (40 pips). Attached is an image after 5 days.

KuniTrade04-01.gif650×538 43.9 KB

237

Carry trade refers to the interest positive pairs such as EUR/USD short or GBP/CHF long. Here’s a link with some generic info on it http://www.investopedia.com/terms/c/currencycarrytrade.asp

And now here is a link for traders
OANDA FXMessage: doubled my account in past year

Read read read.

In fact my carry trade basket bailed me out this morning when I traded the BOE news with a straddle. I booked net of +7 pips but money management saw a loss with the GBP/USD. But my carry trade basket offset the loss, even gave me a small overall gain because GBP/CHF moved up.

I took 6 profitable trades from GBP/CHF. See following from my blog at forexology
Wednesday, June 20, 2007
Trading the Bank of England Minutes
After listening to Felix Homogratus signal I traded the Bank of England minutes, expecting to benefit from the expected 50 pip movement in case of deviation from expectations. The market expected the vote was 7-2 in favour of unchanged rates. I must say early that I need to go back to Felix’s site to see how he sets the limits for news because my largest order got stopped out.

The pound rose rapidly after minutes revealed that the nine-member Monetary Policy Committee of the Bank of England was split down the middle on need to raise borrowing rates. the vote was 5-4 in favour of keeping it’s key repo rate unchanged. So the market is now expecting an early rate hike in July.

At 4:30am New York time the market moved from 1.9881, moving 37 pips in the first two minutes; to reach 1.9938 by 8:45 New York time, a move of 57 pips in four hours.

I cancelled my buy order at 1.9887, tp 1.9907, sl 1.9887 that was based on the daily20pip signal and decided to straddle the news. I would have made my 20 pips easy!.

Here are thr BOE Minutes trades:

Primary account three limit buy orders:
250 units 1.9910
take profit 1.9930
stoploss 1.9880 (took profit at 1.9930 = +20 pips)

Second buy order 500 units at 1.9925
take profit 1.9945
stoploss 1.9895 (Stopped out at 1.9895 = -30 pips)

Third buy order 150 units 1.9897
take profit 1.9912
stoploss 1.9867 (took profit = +15 pips)

When I saw what was happening I quickly bought 500 units at 1.9925 at market.
Closed at 1.9927 (profit +2 pips)

So my pip count for my troubles +7 pips. Money management was loss because I was stopped out on the largest order.

Overall I made up for it by gains on GBP/CHF in the carry trade basket. The news moved GBP/CHF by over 70 pips and I took profits on 6 trades which gave me a small cash profit for that period.
I also set some sell orders in the hedge account but I will not discuss those now since the market went bullish.

Lessons learned. Keep money management conservative, and set stoploss orders at a greater distance to make up for spikes.