FX-Petra’s Trade Journal
I am starting this journal for me. If others read it and can take anything useful from it, that is ok with me. I know that the great majority of posters here at the factory strongly disagree with my market views. I am not starting this journal to argue with you! If you disagree, then please just leave me to my own demise.
I will respond to reasonable questions. Please keep in mind that while my system is pretty easy to employ, the reasoning and mathematics behind it are not. Fully explaining my system and the math that it took to devise it is not something that I have the time or patience to do. If you are very mathematically inclined, or have master’s level or higher formal training, then I welcome your thoughtful questions. I am a very humble person and am not trying to be arrogant in any way--- but I just do not have the time teach a course in predictive statistics.
This system will eventually fail. I believe I have devised a way that gives me a fighting CHANCE to still be alive after 10,000 trades. If I reach that level I will have made a large enough lump sum of cash to live my life in the manner of my choosing.
So here goes:
1) Market Entry --- Random, but not suicidal. I am not trying to predict where the market is going, but I am also not stupid enough to step in front of a freight train. If a big move is underway, I will wait until things settle down until I make a new entry.
2) Currency--- Eur/Usd (low spread cost)
3) Market Exit --- 22 pip stop loss (from entry), 25 pips take profit (from entry)
4) Daily Goal--- 2 winning trades per day
5) Starting Pip size--- .10 pip per 12,000 of equity
6) Biggest pip size --- 204.8
7) Maximum trade sequence --- 12 trades (12 losses in a row will end this experiment and result in a total drawdown of $9,213.)