My FF high risk account Journal

Hi guys,

Long long ... LONG, time since i have made a thread.

A little bit about me, I have been trading for 12 or so years before full muscular development. Have been a broker, trader in bonds, company CEO and an investor. Forex has been my life for a very long time.

Recently I started posting again after a long time. I used to be fairly active in the board when I was a wee one but stopped posting when a lot of the old boys club stopped posting.

I was posting in the EUR/USD thread, which provides a daily dose of entertainment and autistic thought (by this I mean that you shuffle between charts that are bullish and bearish and neutral and it spins you in a circle) and Deltaone? I think thats his name, challenged me to put up a live account. Unsure on the reason, it had something to do with me being a bit offended by a knowledge of US index comment, water under the bridge.

I felt a journal would be a good way to present it and perhaps share something with you guys as well as keep me on the straight and narrow as I am using high risk for the account size.

My trading is pretty simple, identify the longer daily flow movement and enter from the short term flow changes. Use pivots or s/r as exits and stop and reverse for losses. I don't use hard stops, i prefer to use a hedge and stop method which takes losses only on a confirmation of flow change whilst hedging so that I am pointed in the other direction. A neutral market will generally mean no trade.

My brokerage settings are what some brokers might consider abusive. I have an IB account for my own trading account which i earn $15 per lot in rebate (spread 2.5 pips for e/u). I take this from a model I traded when I was trading bonds where the "seat" is paid by the rebate and the income is from the equity gain. Since I am not a company, the rebate is my "income" and the equity gain is my "growth". If equity grows so does income. I live in Greece, so the cost of living is pretty low, technically 100 lots a month is a livable wage providing the equity is protected.

Without further a due, I present my journal, an up and down journey of a high risk account trading lot sizes equivalent of the average retail trader. The actual challenge itself started on the 11th of July (approximately, ill have to check deltas post history) where i put 1k into the trading account. This account had previously been used to test various grid EA's that essentially blew out when the market trended.

I will try to make one post per trading day regarding the account as well as some trading ideas.

Cheers and I hope you enjoy the journey.

Do you mean 2.5 pips or points on EURUSD?

pips... 25 pts.

Please explain why you choose a broker with 2.5 pip spread on eurusd.

Hi Maxi,

I take the mark up in my spread. The broker does not charge it. When I first started trading eur/usd spread was 5, and I learned to trade in that environment. So why not take some rebates when you can. I get between $15 and 18$ per lot depending on pair.

Today was a bit of a rough day. The market is a bit mixed up and the crosses have been heavy in play, in particular eur/gbp.

I got the signal of flow changes early in the morning and then the market went flat. The flow change was a positive USD one, so I stacked heavily on gbp/usd as it has had the most momentum and took light positions on eur/usd and usd/chf (which were losers). Fortunately the GBP didn't disappoint and i managed to take 5% in the day.

I was hoping that the eur/usd move would gain some momentum on the basis that Draghi's comments were a bit dovish overall. Alas, the market wasn't having it and eur/usd looks like it may be bullish again next week.

USD/CHF started to switch momentum, i took the trade and then CHF seemed to become superman. I kept it light, and managed to add a position at the bottom to lower the pain.

There was no solid direction today so the only thing produced was volume.

This week closed 122% up with another 31% in rebates to pay for my chewing gum.

Next week is going to be a super tough one with the potential for a reversal, however looking at the US politics right now and sean spicer resigning it looks like the USD is set to fall. If I were a betting man, I would bet on a large option to sell the dow.

Have a good weekend all.

Nice performance this week. What are you using to identify entries/exits?

If you earn $15 per $100.000 roundturn, you earn $15 * 1.17 (current eurusd exchange rate) = 1.755 pip
2.5 pip spread - 1.755 pip rebate = 0.745 pip spread you pay
Many broker are cheaper, especially with IBs.

122% nice....Inspiring enough

I have worked for many brokers over the years. I am comfortable with the one i have and conditions i have. Because I know the lines are not aggregated and I will always get good fills. You cannot expect good fills at decent size when you are on a 0 spread aggregated feed with 100k per price. The deal I have is a good one.

My entries are flow based.

The last two days were a bit weird, I was trading from my tablet as I went on an impromptu trip to northern greece as I had some surprise visitors.

The trades I currently have (Eur/usd short) were especially weird as i should have been long pretty quick, but my wireless connection disappeared. When I got back to a connection (at a toll booth on the road) I checked the longer term and noticed a good short set up so decided to hold instead of close out in loss.

I will make a youtube video or two showing ways to identify entries like mine and how to manage your risk accordingly. Obviously this journal is high risk, but the trades are copied from my main account directly via a trade copier.

What an interesting week so far.

FOMC weeks are always a bit dodgy, but to top it off, we have all the crazy politics going on.

Currently sitting at 150% for the week approximately and I have increased the lot size at 200% return despite my not wanting this story to end. Still running profitable but the heightened risk has not left me comfortable. Its good to trade with a little discomfort I guess, stops one from getting complacent.

Currently only holding aud/usd longs on the bounce. The flow looks good this morning to get out of them today and end the month at around 280% return. Not looking for other trades but if something pops up will take it.

Currently sitting at $800 worth of rebate as well, which almost covers my deposit for this account, likely will be "risk free" on Monday once some trades are closed and will feel a little bit better about this experiment at that time.

For those who are wondering about my strategy, I am watching the price action and using ichimoku clouds as a line in the sand. So ultimately whatever side of the cloud the price is on is the direction of the trades I will take. I use price action and momentum to then enter the trades for a move in the trend. I review 15m and 30 min charts mostly, but if I am in a trade that is a bit dirty, I will refer to higher frames.

Obviously if the market has no momentum I trade range bound or am neutral.

If you have a high deposit, its stable for long term equity growth, it is rare that I would take this kind of risk but can never say no to a challenge.

Cheers.

Hi guys,

Have been a bit pre-occupied with a bunch of medical tests, so haven't been around so much other than the odd eur/usd post with my mobile. Also trading from mobile, so activity is low.
Last week I had a bit of a DD when a hedge and reverse flatlined, Alas, this morning we are out with an overall profit after the hedging fiasco.

The risk on the account still feels a bit much, but following my plan is important to me so I will keep it going for now as the money is starting to be somewhat valuable.

Account is up 330% in total in 3 weeks. Not too shabby. I have 100% from the rebate stockpiled in my ib account as well which is good to know so I can keep running my compound calculation. From here it should be fairly quick to get to $1000 in rebate, probably once every 2 weeks if the account survives.

Lots of news out this week so have to be careful, NFP weeks are always tough, although right now everything seems to be +selldollar, i have a feeling when the anti dollar sentiment ends its going to all come crashing down.

I also started investing in Myriadcoin, my first dive into cryptos, its a stable coin 3 yrs old with a sub cent price, so I picked up a bunch to stockpile and have set up one of my old pcs to gpu mine them. Thats pretty exciting to me.

Cheers

Welp that was fun whilst it lasted. Using a trade copier is hard. On my main account I am using about 7 times less risk than i was on this account and when you are hedging to force close and don't have enough equity this is what happens. Although, I have managed to pull 2,073.16 out of the market in rebate (yesterday was 100 odd lots on 4k which is insane) I did end up killing the account because of hedges forcing margin call when additional positions weren't added.

I will transfer 1k into the account, lower the risk a bit and start again. I have ''2 deposits'' sitting in my dormant account from the rebate so lets get this right.

Didn't keep the journal up to date so much this week its 44 degrees and i am melting like two scoops in the sun.

Put in the 1k, went up 150%, not compounding anymore. Volume was decent but not amazing as the volatility was wide.

Looks like the USD bearishness is going to end this week so I am looking for confirmations on that.

Decided to also teach some of the staff i have the trading method I use and see if it can be replicated or I am just insane..

Another decent day, another 50% added to the balance. Brings me to 200% since the re-deposit. Not compounding this time just keeping it cool. Drawdown is way more managable now even in a slow market.
Only 1k to go to get back to the equity before the last kill, hoping to reach it by the end of the week.

Another great day. Very happy with the results despite the horrible liquidity in the market.

Carried on with the new downtrend on eur/usd and long on usd/jpy. The market really delivered and the US has amazing job numbers coming out. Grabbed another 100% (of initial deposit) and am now back to where we were before the compound disaster.

Still not compounding, this time just going to keep the lots low, the risk is going down significantly now and I am going to make this sucker last the distance.