Posting to improve

Trading Discussion Trade Journals
#1

Hello out there,

First time going public so who knows what comes out of it.

I am almost 3 years into trading and finally stopped losing money. Been through all stages a trader goes through and managed to correct most of my human pathogenesis. However still left with a few.

  • Might do a few senseless trades outside my strategy. It happens when adding something interesting I saw to my strategy without backtesting it, for example lower time frame signal last time. However I am almost done correcting it if not done.
  • I am not letting my winners run and this is key to profitability. Not sure how close I am to sorting this one out.

Decided to announce my trades for a month or two to help me overcome 2. Let’s see.

I will not disclose my strategy (my strategy!) but only the objectives. So,

TP=200p, SL=100p. If price goes to my favor 100p+ I move SL to BE. If price goes to my favor 180p+ I move SL to +100p. I close my trade near the end of the day if TP/SL is not hit. I trade mainly US30 and rarely NDX100 and DAX.

Please be aware that I am no pro, hoping to get there so do not take these trades.

3 Likes
#2

hi again - looking forward to the thread and wishing you well with it, and with your trades! :slight_smile:

#3

Thank you, hope so

1 Like
#4

First trade us30,

Sell: 35459

#5

For the trade I posted:

TP: 35258
SL: 35561

#6

I am trading indices too (DAX and US30). Good luck!

#7

Thanks, will need it

#8

Price is at +100p so SL goes to BE

#9

Trade closed at BE

#10

just a question (if they’re welcome?) but do you have enough data available (from the past 3 years you’ve been trading) to know what the overall outcome would have been if you had taken identical entries with SL and TP both fixed at 100p, never adjusting the SL, just letting every trade close by hitting either the SL or the TP?

i ask for a specific reason: you’re trading indices on what many people would call a “slow, intraday basis” and i’ve seen such methods break even with a 1:2 R of the kind you’re using that would be profitable over the long-term with a 1:1 R

(i’m guessing you’ve already thought of this, and other possibilities, and backtested them anyway - but i mention it “just in case” :wink: )

#11

Of course I welcome questions. After all, trading is lonely.

Yes, I am loaded with backtesting data and to answer your question, I never had a month where #100’s exceeded #200’s. On average the #100’s are less than 70% of the #200’s. Furthermore, us30 very often exceeds 200p.

Not sure what you mean by “slow, intraday basis”

Not sure what

#12

sorry - i just meant “not holding overnight but not fast, multiple trades”

my turn to be confused! nothing can get to 200 without first passing 100? probably i have confused myself, here … anyway, i was just asking whether a 1:1 R would do better than a 1:2 (it sometimes does, but apparently not here - sorry :blush: )

#13

You are right, I was not clear.

Let’s suppose you have 10 trades making it to 100 pips. So if I go for 1:1 R I will get 1000 pips. What I am saying is that at least 6 of them will make it to 200 pips, thus 1200 pips total gain. In addition, you might catch more if it is a very trendy day.

Of course I am eager to find out the forward testing results…

1 Like
#14

understood now - thanks

what I’m suggesting is that with some of those, when they reach +100p and you move the SL, before they get to +200p, some turn and get stopped out at breakeven

we saw this with the result you posted earlier today: it went to +100, you moved the SL to breakeven and ended up with a breakeven trade - it’s in response to this that i’m asking whether it’s possible, if you don’t do that, but just close the trade at +100 - finished, completed, closed, end of trade, next case please - enough of those will be +100 rather than breakeven (like today’s was) to make the whole thing profitable

#15

Thanks for your input.

You could be right and taking TP at 100p is less stressful than shooting for 200p. You could also take partials at 100p.

However I would like to see how this plays out for a month or so before making adjustments.

1 Like
#16

new trade

buy 35593

#17

targets

TP: 35793
SL: 35490

#18

Price is +50p and I am moving my SL to BE because it is the end of my working day and want to go for a run care free.

Tomorrow again.

#19

+60 pips and I am closing this trade, too late for me

1 Like
#20

So far

image

1 Like