Hi Everyone, I have only recently started posting on Forex Factory, but on a couple of threads, I have been posting that my system gets in the region of about 80% win ratio, so I thought, why not keep a trading journal of what I have been doing, and how they are going?
First and foremost, I did have an account paired with MYFXBOOK, however, an MT4 terminal update has rendered that useless, and I cannot get the EA working.
I took the opportunity to clear up some of my accounts, and I set up a new broker (basically because I get cash back from it... every little helps!) and I stuck in $1606 in there (yes a LIVE account, and the random figure is due to excess funds and currency transfer... whatever that is!) and paired it up with trade explorer on here, so warts and all are able to see...
If anyone wants to let me know how I can put it in my sig, it would be much appreciated!
The short term MOES have nothing to do with me accidently forgetting to add in the V for moves, it is supposed to be MOES… for a specific reason! I did think of calling it the Flaming MOES, but you know all about copy write, and so forth…. And besides I didn’t want the strategy to be shot down in flames…
So what are the MOES? It is my strategy, which I have developed which is mostly a counter trend, reversal strategy, looking funnily enough, at short term moves… I SWEAR I did not forget the V!!!!
Anyway, a lot of this strategy is counterintuitive… I developed it by trying to look for leading indicators that complimented, but ensured a good ratio of wins. I will NOT be divulging the secrets of the system – for a number of reasons, but I would love to help people with any questions.
This Journal is one to show how my mind works when picking trades… again, warts and all, as humans are fallible, and I think I am extremely human… and ipso facto…
So about the counter intuitiveness of this strategy:
We are all told that we should aim for a risk reward of 1:2 or higher… 1:1 is ok for aggressive strategies… well this strategy is usually in the region of 2:1… so for every $10 I hit TP on, I would lose $20.
So is this a losing strategy???
Absolutely not!
I would say one more thing, that the Short term MOES are complimented (although not tested as thoroughly) by the Long term MOES…. I DID NOT FORGET THE V!!!!!!!
These are split up over 2 accounts, so my net worth for the MOES is actually twice the value. I have them over to 2 accounts as I cannot hedge at my broker, so if I get a buy on the short MOES, I may not be able to take it if I am already in a Long MOE sell…
So although I look as though I am risking 2% of my account, it is actually 1% per trade, it just looks like 2%
What I plan to do, is to keep a record of the trades, how they panned out, and also to post some charts – although I usually trade by mobile, so they don’t translate that well, but Hey Ho! J I am hoping that I will be able to give a bit of an idea as to why I trade the way I do, and basically show that an 80% record is possible… for instance at the moment.. my win percentage is 83.3% as of time of writing, which is actually about right… for each 5 wins I usually have a loss.
It is always a constant battle to see why things went wrong, and see how you can improve them, and that is what I am going to be planning to do, and you never know, why not chip in with some ideas on my trading performance, positive criticism is always welcomed… don’t get me wrong, I may well argue with you, but I like to be challenged, and if you are up for a healthy debate, I am always happy to chat!
First and foremost, I did have an account paired with MYFXBOOK, however, an MT4 terminal update has rendered that useless, and I cannot get the EA working.
I took the opportunity to clear up some of my accounts, and I set up a new broker (basically because I get cash back from it... every little helps!) and I stuck in $1606 in there (yes a LIVE account, and the random figure is due to excess funds and currency transfer... whatever that is!) and paired it up with trade explorer on here, so warts and all are able to see...
If anyone wants to let me know how I can put it in my sig, it would be much appreciated!
The short term MOES have nothing to do with me accidently forgetting to add in the V for moves, it is supposed to be MOES… for a specific reason! I did think of calling it the Flaming MOES, but you know all about copy write, and so forth…. And besides I didn’t want the strategy to be shot down in flames…
So what are the MOES? It is my strategy, which I have developed which is mostly a counter trend, reversal strategy, looking funnily enough, at short term moves… I SWEAR I did not forget the V!!!!
Anyway, a lot of this strategy is counterintuitive… I developed it by trying to look for leading indicators that complimented, but ensured a good ratio of wins. I will NOT be divulging the secrets of the system – for a number of reasons, but I would love to help people with any questions.
This Journal is one to show how my mind works when picking trades… again, warts and all, as humans are fallible, and I think I am extremely human… and ipso facto…
So about the counter intuitiveness of this strategy:
We are all told that we should aim for a risk reward of 1:2 or higher… 1:1 is ok for aggressive strategies… well this strategy is usually in the region of 2:1… so for every $10 I hit TP on, I would lose $20.
So is this a losing strategy???
Absolutely not!
I would say one more thing, that the Short term MOES are complimented (although not tested as thoroughly) by the Long term MOES…. I DID NOT FORGET THE V!!!!!!!
These are split up over 2 accounts, so my net worth for the MOES is actually twice the value. I have them over to 2 accounts as I cannot hedge at my broker, so if I get a buy on the short MOES, I may not be able to take it if I am already in a Long MOE sell…
So although I look as though I am risking 2% of my account, it is actually 1% per trade, it just looks like 2%
What I plan to do, is to keep a record of the trades, how they panned out, and also to post some charts – although I usually trade by mobile, so they don’t translate that well, but Hey Ho! J I am hoping that I will be able to give a bit of an idea as to why I trade the way I do, and basically show that an 80% record is possible… for instance at the moment.. my win percentage is 83.3% as of time of writing, which is actually about right… for each 5 wins I usually have a loss.
It is always a constant battle to see why things went wrong, and see how you can improve them, and that is what I am going to be planning to do, and you never know, why not chip in with some ideas on my trading performance, positive criticism is always welcomed… don’t get me wrong, I may well argue with you, but I like to be challenged, and if you are up for a healthy debate, I am always happy to chat!