My way to highway

hmmmm..me too,totally agreeeeeee

No changes today, some zig, some zag, same open positions, the current open drawdown approx -0.6%.
Still holding all.
Since there was a bit more of the zags today, maybe tomorrow is time for more zigs that take me out at TP? Will see.

Great.

LoL, thx.
The great is when positions closed, account is flat, and at new equity high...
But for today I am OK with the price holding up, and the drawdown looking slightly better than during the day.
USD strengthen against many exotic pairs the past few days, unfortunate HUF was not in that group until now.

Quick update:
Still on the way home, at the airport, waiting for the last connection.

UsdHuf trade still open, and still in a drawdown, positive swap or not
(At least the swap doesn't cost.)
One part closed, approx +0.85%
Two part open, the running drawdown approx -1.8%
So, total about -1% under water on it. Practicing patient, and waiting for the turn.

closed the positions off, after the NFP.
total gain: +0.3% approx.

as it turn out, an hour too early, as in the aftermath all happened as envisioned, only without me.
Euro broke down, and pulled HUF with it, and UsdHuf shoot up, right where i originally thought it will.
of course, it is always better safe than sorry, and any trade could go either way...
disappointed a bit after waited nearly a week for this to developed? yes! sure i am.
but not as much as disappointed i would be waiting for a week to develop into something, running some drawdown, and not taking my chance to be out of it when i get.

there is always another trade

boring Monday, at least for my way of trading.
one small scalp trade, that took forever to move, and get fed up with it, only to see that it could bring in at least something.
the result is 4 pips, or a measly 0.01%! that is, about as good as a bus ticket.

this nothing happening gave me some time to look into the stats a bit, there is always something interesting there.
what did i find?
the account had on Friday the 3rd day ending in loss. that is quite good from approx 100 trading days.
also found that the drawdown is consistent to that of post#1, even if myfxbook's drawdown displaying isnt exactly how drawdown looks in reality, a good indication nevertheless. as far as i can recall the highest running drawdown was still not over 3% since the journal started, and that is something i work on hard.
of course, with lower drawdown, the results are a little lower too, June ended "only" at 5.4%...but with 2 weeks of that travelling and vacation time, trading, when it was done was reduced size too, i am very happy with that result. not to mention that in $ term was the best month so far ( on this account) even if the %gained is lower ( newvdeposit at the beginning of July).

i wont expect much trading tomorrow, but wish the market to prove me wrong.
August is definitely a slow start so far, i would not mind some improvement on it.
in the moment however it looks like i will need to wait until Wednesday to have some of the higher impact news that might bring the preferred setups.

the prediction about boring only held up until the second half of the day...
then suddenly there were moves, finally!
nothing for a position trade, really, they just not yet meet the criteria.
but there was some chance to scalp a bit, and i trying with more or less success to use these chances.
GJ give a nice little entry first, and was in time out before continue to fall.
GU wasnt that simple, in retrospect i should hold on, but that is hindsight; was thinking to put on again, but never really got the chance. ( see chart)
US30, a quick scalp for a few points, as planned, easy. here i missed the re-entry that would work out even better.
few other missed opportunities, once there is movement, seems like all pair moving, and i dont like to divide my attention that much up.

the results: a total +0.2%.
no open trade, new equity high.

when there is nothing to update...
almost nothing.
one tiny scalp yesterday, one very tiny scalp today. maybe total +0.06%? not even sure, but not enough to feed the family, that i am certain!

this week is probably one of the weakest since this account running.
weakest when it comes to my entry signals, or trading setup, or whatever i want to name it.
it is right on the opposite side of ideal.
scalping could work, but this account is not running on scalping as main activity, and apart from 1-2 scalps a day, i try to not overdo it.

tomorrow Friday, and it is never the best to start a position trade on Friday, especially with escalating political tensions in the past days.
that said, my current best bet would probably be UsdJpy, where i have some pending orders in the support zone, that i will leave in overnight.

Friday, and i wont trade into the closing much, but call it a week here.
A boring week. But a green week.
And even small profit is profit.
Today 3 scalp trades (EUx2, GUx1), for a total +0.1%. Unfortunate that UJ not hit the limit buy order, for position trade. Next week maybe.
At about halftime the month stands at +0.72%.
Expected slow August, got slow August

happy weekend!

today was different...
the boring days in the past 2 weeks made me lower some of my guards, a little.
was expecting early another of these days, fully thinking before the second half of the day, will be able to scalp some, then see if i can do something after the news.
wrong thinking!
even though the start was as expected, both the GJ, then EU scalp went approx as usualy, good entry and early exit, lol. always promise myself to work on the exit, but it is just better safe, than turn profit back to loss. well. hindsight is dangerous, not even sure that too much studying oneself's trade not have counter-effects in the end!
i suspect they do!
anyway, came to GU, and that was surely keeping me busy.
entry was initially a scalp, and looked all fine, until started to move against me, then scale in, as per plan, all good...or almost.
just not enough move to take some profit scaling out, after closing the bottom to approx BE on total...
and heading lower once more,
took some patience to pick my line ( not in the sand), and then to hold it once again to BE, then some weakness temporarily spooked me to close all...
tiny gain, compare to the work and headache...
BUT
in hindsight #1, i could hold a few pips longer, and be better rewarded
in hindsight #2, i could hold a few pips longer, then promptly be f@cked for my greediness heading back lower.
the danger of hindsights, greed, and being lured slightly away from the rules by some sleepy days.
last entry ( #5 on chart) is straightforward, something that should deserve to be held longer, but just missed the feeling for it now.

results for today: +0.24%, all closed, new equity high.
(worst running drawdown some point got to approx 0.8%)

Hi Profitfarmer

love the thread, I've subscribed, wish you well

cheers Crowie

thank you for subscribing!

today trade:
GbpCad long, finally a chance for a position trade.
Initially move against me as well, but not enough to allow me to scale in.
On the rebound exit little premature ( not at TP) but interestingly right before a 20 pips pullback...good timing?
Since the month doesnt provide so far abundantly, i hadnt feel to sit this out, just booked what i had, +0.28%.
Not great, not bad, i am happy with it.
Link a pic to show exit

Today some action, finally...only it is Friday!!
I think already mentioned, that as a rule of thumb, i prefer to end the week flat. ( a rule i may break sometimes).
The highlight of the day was GJ ( chart attached). I was little early in, and lot early out, LOL. -20 pip to +40 pip, still good, the bulk of the gain today.
the rest was a Gcad scalp, and 2 Gcad position, sort of average out each, for a small gain.
This Gcad closing i was hesitated with a while. I think it has good potential, for another 20-40 pips, and felt like taking like 0.05% if sabotaging myself.
Yet refer back to the top line, and it puts things in perspective, broker closing in 4 hour from now.
A former brokerage i used still mail me promo things, and one of the last mail was about anytime randomly raise the margin req. /lower leverage due to political tension.
I am not trading anywhere near fully margined out, and frankly, 5x lower leverage wont make any difference to my trading or results, if my current broker start to employ the same...but another point to close out trades for weekend.
Even a 200 pip gap wont raise the red flags really, but just who needs a 200 pips gap? Me, not!

The result: the total profit for today = +0.39%.
The week ended: +0.94% ( and new equity high, no open trades).
The month is at +1.67%
This month still is a laggard, but improved some. Least the drawdown for the month also extremely low, <1%!

Will probably make a post where the drawdown relate in to my trading lately, to do some at things ongoing on personal level...
Happy weekend!

Not big on sharing videos, but here is a motivational i really like, for me it seem to hit home!

Friday mentioned about ongoing things on personal level...those who are not interested it is a chance to stop reading, might be little long.
So here is some update about what is going on:

The journal at the start gave a hint that i am planning to become full time trader some point.
The past month things rapidly changed ( i dont mean my trading performance ).

Sometimes things work out differently as planned, and might just happen to me the same.
The journey starts with having about 1/2 the funds that i perceive i would need to trade full time. My numbers doesnt really changed.
A good month ago for fun i posted my account stat to a newer evaluating site, ranking traders by an algo, based on more things than i should care. Just as myfxbook, or a TE, giving a somewhat different aspect, and it is free, so why not.
The ultimate offer that if you have can maintain a certain score, and balance, in time you might be able to get funded.
I know what comes first in mind is that you already suspect to know about these types of deals, prop funding...( just posted on one in comm. section today)...but it is different!
I wont tell name, and details just yet, it is not a post to advertise anything.
Lets say only one thing, unlike most you come across, there is no promise, and most certainly no payment from the trader side whatsoever.
Nothing like the usual BS prop trading.
From the moment i joined, my track record was on top, and it is still there since. Probably not because i am the greatest, far from it, and believe me when i say it came to me as a big surprise that time, and still does.
Even my track record is shorten then the preference, it was noticed by some people, and again, surprisingly not one, but 2.
I got some offers, from both, and the same day.
It involves fund managing.
As a disclaimer here, before read further: neither it relates to FF.com in any way, nor i advertise it here or elsewhere, all mention on a story level!
One is more the conventional ways, copy trading, and MAM. I am sure all of you familiar with it, the few fanatics who even that bored that check my journal out to pass time! That said, a great chance, and already started to work on it, and will continue.
The other is the more interesting one...( in final closing stage)
The proposition is to have a test out for fund manager ( sort of), having a 250.000$ starting out, that can -if the performance is right- quickly grow into serious backing.
For this, you will need some money, namely a personal real account, but it isnt to pay anyone, it is to use as a signal account to copy your trade, and make sure you have interest not to gamble. But none of it represent a payment, or else, all on your name, no fees, etc, as mentioned above.
Anyway.
This one also comes with restrictions. Interestingly, maybe, they dont really care your return, they are more interested with your drawdown.
Since this is more in the fund management framework, there is rather strict limits are in play, the suggested max drawdown is "only" 2.5%!!
You friend read it correctly, that is 2.5%!
In exchange, i was told with 1% a month they would be very content! Again, 1% i wrote...
You noticed not 10% a month, not 50% a month, nothing like that.
Read again, 2.5% max DD, 1% return...as guidelines.
What i was told, if on the 250k test account the performance is fine, we can quickly scale it up to million(s).
They dont give you just about 20-25% profit, something seem to correspond with fund management, and most certainly diverge from prop trading compensations.
Doing the math, quickly realise that on 250k, with those parameters one wont get rich...true. i know that same basic maths too.
The attached screenshot shows that the past month i was working to reduce the drawdown, and i think it is on track.
When i joined the tracing site boh return and drawdown was about 2x the current, with this number i am very content, and it can be easily sized down to the fund's equity size.

But between the 2 opportunities, plus my own live account that is also growing steadily, i had a decision to make.
I have a stable job, but one that also sends me away from my family for months a time.

So, the decision i made that from this August i will give a shot and trade full time, and lets see where the things take me.
( may put that motivational video in framework?)
I dont expect that before the end of the year every single month's income will cover my expenses, and that is fine.
Have some savings to gap this period, say 6 months or so.
By the spring, latest, i will see if full time trading working out for me or not.
It is something i planned to do about 4 years from now, but if opportunity knocks on the door, i need to answer it, right?
I feel both my trading, and emotionally i am " in the zone" to make things happen.
I would regret not to give it a go now, and i wont regret missing 6 months from my job. ( it will wait for me, that door is open, no bridge burnt, my boss appreciate my work there).

Long read, but i warned all of you!
If you made it to the end, without falling asleep, congrats!
As a note, my fixation on drawdown was there before these options. I can only suggest anyone that there is some real, serious opportunities out there, and if you take care of your trading, and do consistently something that low risk, ok return, you might be surprised but can get noticed!
And this isnt for 18 yrs old kids only, i am middle aged, and it matters little, even a slight advantage i felt! ( whereas most brick and mortar job over 35 you considered old often!)
So, this is where i stand now!

Happy weekend!

That's a tough Drawdown criteria, wish you luck...Id be happy with a 10% max drawdown

crowie,
as i said, it can be scaled.
i use 10% max DD cut on my live account. that is about 5x larger than applicable this case. not that i get near to it often, i know you read my journal entries, DD details all there...
i also have about 5x larger average profits too.
plus that wont be copied/traded from my main account, so, will have the comfort to approach a bit differently.

if you meant you need help to lower your drawdown, i would be happy to have a chat to help you.

the good, the bad, and the ugly...

today got my new monitor delivered....the good
setting up the system my PC refused to start up...the bad
all this late afternoon, with no chance to catch a service open...the ugly

could tell you all about the emotional swing from happy to frustrated!!!
of course this rendered trading to non-existant, or about, the tablet is really a secondary option, for a reason.
one small scalp on EU, for about + 0.03% profit...afraid it won't cover the service cost.

Hope tomorrow will have enough luck to sort this out, ( also wife's birthday, make thing trickier on time management aspect, cos if I have to choose, wife comes first!)