The Progress of Alphahavoc III

You work at a hospital? Your schedule sounds really hectic! And you still have time to fill in details for your trading journal! Also, get well soon!!!

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Trading Day 39 (24Sept 2019)

24 Sept 2019
0033HR SGT
Symbol : EURUSD
Action : Short
Lot : 0.01
Open : 1.09897
Target : 1.09829
Stop : 1.10151
(manually closed at 1.09957)

24 Sept 2019
0033HR SGT
Symbol : EURUSD
Action : Short
Lot : 0.01
Open : 1.09897
Target : 1.09729
Stop : 1.10151
(Manually closed at 1.09957)

Trading Day 40 (25 Sept 2019)

25 Sept 2019
2237HR SGT
Symbol : GBPUSD
Action : Long
Lot : 0.02
Open : 1.23619
Target : 1.23701 (hit target)
Stop : 1.23389

25 Sept 2019
2237HR SGT
Symbol : GBPUSD
Action : Long
Lot : 0.02
Open : 1.23632
Target : 1.23801 (hit target)
Stop : 1.23389

Trade consideration,

  1. Alphahavoc ultra instinct say mean reversion in progress…:smiling_imp:

a7392a11ddab3cc12dbd497c6014a9cc19d28f3d_1_625x500

26 Sept 2019
0104HR SGT
Symbol : EURJPY
Action : Short
Lot : 0.08
Open : 117.982
Target : 117.919
(manually closed at 117.925)
Stop : 118.121

Trading Day 41 (26Sept 2019)

26 Sept 2019
0758R SGT
Symbol : EURJPY
Action : Short
Lot : 0.01
Open : 117.957
Target : 117.901
Stop : 118.101
(Manually closed at 117.989)

26 Sept 2019
0758R SGT
Symbol : EURJPY
Action : Short
Lot : 0.01
Open : 117.957
Target : 117.851
Stop : 118.101
(Manually closed at 117.989)

26 Sept 2019
0950R SGT
Symbol : EURJPY
Action : Long
Lot : 0.02
Open : 117.992
Target : 118.101
Stop : 117.799
(Manually closed at 117.848)

I changed my mind, and decided to go long instead, as i feel that price seem to be moving up, a pullback might be in play. Receding bearish awesome oscillator histogram is showing bullish sentiments at the moment.

26 Sept 2019
1602HR SGT
Symbol : EURJPY
Action : Short
Lot : 0.05
Open : 117.848
Target : 117.699 (hit target)
Stop : 118.021

Another close one today :sweat_smile:, manage to close my long EURJPY In time and double down a short EURJPY. Looks like my initial opinion about EURJPY was right after all.

Trading Day 42 (27 Sept 2019)

27 Sept 2019
0224HR SGT
Symbol : EURJPY
Action : Short
Lot : 0.02
Open : 117.793
Target : 117.659 (hit target)
Stop : 118.001

27 Sept 2019
0224HR SGT
Symbol : EURJPY
Action : Short
Lot : 0.02
Open : 117.791
Target : 117.569 (hit target)
Stop : 118.001

27 Sept 2019
1148HR SGT
Symbol : AUDNZD
Action : Long
Lot : 0.02
Open : 1.07357
Target : 1.07441 (hit target)
Stop : 1.07099

27 Sept 2019
1148HR SGT
Symbol : AUDNZD
Action : Long
Lot : 0.02
Open : 1.07357
Target : 1.07531
(manually closed at 1.07426)
Stop : 1.07099

27 Sept 2019
2128HR SGT
Symbol : AUDNZD
Action : Short
Lot : 0.02
Open : 1.07370
Target : 1.07229
Stop : 1.07521

Late dinner

Trading Day 43 (30 Sept 2019)

30 Sept 2019
1041HR SGT
Symbol : GBPCAD
Action : Short
Lot : 0.02
Open : 1.62668
Target : 1.62559
Stop : 1.63201
(Manually closed at 1.62792)

30 Sept 2019
1041HR SGT
Symbol : GBPCAD
Action : Short
Lot : 0.02
Open : 1.62668
Target : 1.62379
Stop : 1.63201
(manually closed at 1.62792)

30 Sept 2019
1559HR SGT
Symbol : GBPCAD
Action : Long
Lot : 0.04
Open : 1.62791
Target : 1.62881 (hit target)
Stop : 1.62499

30 Sept 2019
1559HR SGT
Symbol : GBPCAD
Action : Long
Lot : 0.04
Open : 1.62781
Target : 1.62881 (hit target)
Stop : 1.62499

30 Sept 2019
1559HR SGT
Symbol : GBPCAD
Action : Long
Lot : 0.04
Open : 1.62786
Target : 1.63001 (hit target)
Stop : 1.62499

1st Oct 2019
0345HR SGT
Symbol : EURJPY
Action : Short
Lot : 0.01
Open : 117.857
Target : 117.799 (hit target)
Stop : 118.001

1st Oct 2019
0346HR SGT
Symbol : EURJPY
Action : Short
Lot : 0.01
Open : 117.856
Target : 117.699
(Manually closed at 117.837)
Stop : 118.001

1st Oct 2019
0346HR SGT
Symbol : EURJPY
Action : Short
Lot : 0.01
Open : 117.856
Target : 117.599
(Manually closed at 117.837)
Stop : 118.001

Trading Day 44 (01 Oct 2019)

01 OCT 2019
1930HR SGT
Symbol : AUDNZD
Action : Long
Lot : 0.02
Open : 1.07618
Target : 1.07651 (hit target)
Stop : 1.07459

01 OCT 2019
1930HR SGT
Symbol : AUDNZD
Action : Long
Lot : 0.02
Open : 1.07610
Target : 1.07721 (hit target)
Stop : 1.07459

01 OCT 2019
1930HR SGT
Symbol : AUDNZD
Action : Long
Lot : 0.02
Open : 1.07614
Target : 1.07801
(Manually closed at 1.07693)
Stop : 1.07459

01 OCT 2019
0303HR SGT
Symbol : AUDNZD
Action : Short
Lot : 0.04
Open : 1.07356
Target : 1.07219
Stop : 1.07651
(manually closed at 1.07502)

Trading Day 45 (02 Oct 2019)

02 OCT 2019
1131HR SGT
Symbol : AUDNZD
Action : Long
Lot : 0.06
Open : 1.07502
Target : 1.07601
Stop : 1.07249 (edit to 1.06999)

02 OCT 2019
1131HR SGT
Symbol : AUDNZD
Action : Long
Lot : 0.06
Open : 1.07502
Target : 1.07701
Stop : 1.07249 (edit to 1.06999)

02 OCT 2019
1332HR SGT
Symbol : AUDNZD
Action : Long
Lot : 0.06
Open : 1.07385
Target : 1.07441 (hit target)
Stop : 1.07249

02 OCT 2019
1333HR SGT
Symbol : AUDNZD
Action : Long
Lot : 0.06
Open : 1.07392
Target : 1.07491
Stop : 1.07249 (edit to 1.06999)

I have merged all my AUDNZD Longs into a one 0.18lot position. At 1903HR i gave up hope, and hedge my AUDNZD Longs with a 0.24lot Short AUDNZD position. All stop loss and target removed as well. I will have to monitor this hedged positions and play by the ear.

Trading Day 46 (3 OCT 2019)

Somehow, i lost control of myself yesterday. Bailed out today. Calmed myself down. I will start out afresh… My mood is rather nonchalant. :neutral_face:

Whoever say trading is easy would be a piece of :poop:

As you know from our talks, this is the only thread I look at anymore on BP and I know I did say I wouldn’t comment…but…:slight_smile:

I think you are demonstrating two very important issues for others here who may be on the same journey.

Firstly, although people often devote perhaps 90% of their attention to their method and entry signals and only 10% to managing their account balance, it should be the other way around. You have returned to your opening balance in one day already twice in this thread due to over large risk-taking. This should never happen. Focus should be 90% on your account management and 10% on your method - which is still ticking along just nicely - but you are not getting the consistent results from it.

Secondly, short term day-trading can work, but it demands intense concentration and strong emotional stability in order to work consistently. People often, mistakenly, think that day-trading brings profits quicker and larger than longer term trading. But the hare and tortoise have already proven that this is not necessarily always the case.

As you know, I am really wanting to see you succeed with this and I am as disappointed as you when I see such mishaps, but, really, with your current account balance should we really be seeing daily swings of amounts like $700 and $300?

End of nag and best wishes for a more sustained future with this! :+1:

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Actually, i was on call for my hospital for 5 week straight. Got one week of rest thereafter, which was last week. This week i am on call again. Overworked , office hour i’m working, after office hours, i’m on standby, got a couple of call back this week. I was exhausted, my entry got looser. Too tired and lazy to analyse carefully. Mood got the better of me. The rest is history… Anyway, just have to start over again… i’m going to sleep now. Seriously lack of sleep… thanks for popping by… i done with trading this week. Need a break. Will start trading again next week. :zzz::zzz::zzz:

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I think this is precisely the point here, @alphahavoc. I am sure you agree that you cannot go on indefinitely at this pace, nor would you want to forever! Therefore there has to be a clear objective for this stage of your trading career.

You currently have the energy and the expertise to work this at the moment but you should have a target in sight for when the time comes that you want to evolve onto other things. And I am sure that the main objective above all others is to build an equity that lets’s you move forward to other trading styles, etc.

But you are not achieving this with these regular setbacks - even back to square one equity wise.

So I think you really need to focus on building and protecting your balance. Otherwise you will end up at the point where your stamina and motivation are both depleted - and with the same balance that you started with.

Instead of always going for the quick fix whenever trades don’t work out, make your golden rule, “there is always another trade on the way”. Switch off and walk away before those make-or-break trades instead of suffering the hangover afterwards.

And set yourself a maximum loss exposure whatever the circumstances - and hopefully you will never again have to say:

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you got this! just get your rest and come back with a clear mind. It’s good you learned from your mistakes, that’s what this is all about

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Will worked on it

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You’re supposed to be asleep!!

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Didn’t get to sleep, did 3 emergency procedure from dusk to dawn. Now starting office hour duty. :man_facepalming:

That is dreadful! Those are inhuman working hours! (I hope you are not also watching the markets on your mobile during these procedures! :scream: :laughing: )

But I have one question for you (when you have recovered). I don’t mean that you should answer it here, rather that you just check on this yourself.

It is my opinion that in order to trade consistently well one needs a comprehensive trading strategy. And that strategy should contain criteria and parameters covering all aspects of one’s trading and not just entries and exits.

I can see a lot of strategic planning in your work but one area evades me.

What are the strategic criteria and parameters that determine your position size?

Given that every new trade is unique and unrelated to previous trades, how are you arriving at your position sizes? Generally speaking, in short term trading, these are often related to the number of pips to the stop loss and the value per pip of the position as well as a general maximum overall currency risk value for each trade and across all open trades. Sometimes it is also related to the target value in the form of an R:R ratio.

But I am not seeing signs of such strategy rulings in your trades? Surely, there is no sense in having rules regulating your choice of instrument, entry reasons, exit levels, etc if your actual position size is just purely intuitive and subject to your feelings on the day or, even worse, related to the outcome of the previous trade(s).

Naturally, no strategy criteria are embedded in stone and the discretionary approach means that these can be overridden. But the fact that such concrete criteria exists means that any deviation should have a specific, identifiable - and retrospectively analyzable - reason.

Just some things to ponder over and to take your mind off work for a while! :smiley:

Now I will definitely leave you in peace for a while!

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Knock knock - how are you doing? Still on a break?

Take care and let us know how you are doing…

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