My way to highway

hi

It is time to wrap up another month!

August was everything what i expected, slow, boring...and profitable.
What i was surprised myself that i was able to keep my drawdown extremely low, ie. <1%, and that apply to any dd, working, total, whatever!!

As for today, i was on fire, only sorry i havent commit more capital behind the trades. But end of the month, no need to mess a potentially nice result.
Only scalping today, 6 entries, NzdUsdx2, GbpCadx2, EurUsd, GbpUsd...all 6 winners.
Total for today: +0.16%

August ended at: + 3.38%
The total gain on the account now at +82.66%.
Most importantly another month in profit.
No open trades, equity = balance = new high.

September looks very promising on multiple levels, and i feel i am just the right mindset stage to tackle them all!

today was NFP Friday, and went as one too.
slow start, some action, sideways drifting after mostly...

lets start with the result for today :+0.25%

NFP aftermath took UsdCad long scalp, 2 part, slippage in, slippage out, damn it, half my profit lost there!! usually things go better, but that doesnt matter what usually is, today it was not a good start for sure, and turned my mood to the darker side.
but the show must go on, and so it went.
more scalping, my focus was on EurCad x3 long, and a short on AudNzd...this one i was tempted to carry for the weekend, has potential, but finally decided against, so, flat for the weekend, as usual.

the week ended at: +1.1%. maybe the sleepy days are over? i wouldnt mind!!

all in all a good, green start for the month!

happy weekend!

Hope you are enjoying Thailand as much as I did !

Great trading so far mate, all the best in your endeavours,keep it up.
250K Baht deposited with 1 broker I hope ? Don't put all your eggs in one basket.

Ride and trade safely.

LuXing

Hi LuXing,

Always a fan of your posts on 00 thread, nice to see you here

Thailand, an ongoing affair for 15 years now, my wife is Thai!

The money, lol, it is actually a little more that I trade, but shhh!, it is secret! Else my wife will be to shop it away!!
Just kidding, she is nice, else why would I be with her, right?

The money I mentioned is actually not in Thai baht, rather something green, if that give enough hint, wink wink!
But since it is not mine, per we, it is where those guys want it to be, my account that to serve as master account for that project will be considerable smaller, ( also not this TE one, a fresh one).
They have broker preference, and as per the big picture, this point I just ride along for the adventure, that might turn out the ticket to the jackpot, or not....whatever will be, at some points the journal will include, and I surely won't die regretting i haven't tried my chance on this opportunity of a lifetime

Should your time permit, drop me a PM, I am curious to know where did you go in Thailand, and how did you find it here!

No volatility = no trading.

Maybe for the better, wrong muscle aches from yesterday, lol.
Went to see a cave, 611 steps up there, same back, plus some around...

Feel little naughty cos I supposed to trade, but I think a healthy balance is better then trying to force entries on myself when there is not a good one, and I am not feeling to be in any zone other than my bed right now

Today's short essey:

The importance of a backup plan!

I am living in a somewhat 3rd world country, Thailand, and the past couple of years, in one of the lessen developed corner of it, on top of that on a farm ( yep, real farm, thus profitfarmer)...not a high tech infrastructure hub, the least to say!
My main internet is some sort of 3G hybrid solution, get wireless from an IPS. It works fine usually, thanks to a nice 7m tall antennae that gets the signals from who cares where.
Time to time when we get some storm, thunderstorm, or just heavy rains, the internet gets shut off. Precaution i guess.
When i was a newer trader, i learnt on the hard way that it tend to happen the very same time you either have a trade on, or few trades on, the larger size the more.
The lesson was, have a backup internet!
Nowadays that get easier, even the 4G start to spread this way, and i can have a reasonable mobile net either monthly, or day by day, great.

Not as often, but time to time, if the storm real bad for precaution they shut off the electricity too ( by local standards of course, never had this in western world!).
That of course kills my monitors, as well as the house net too, 2 birds with 1 stone! Good on them! Cursing time for me!

The good thing that i have a tablet, that if charged, can bridge this problem, along with the backup mobile net, again, if the phone charged too.
I was lucky today, as they were both in good working conditions, as above blackout happened just when i was to scale more into my trade...

Few years ago i would be done to curse only, hope, fear, pray.
For any aspiring trader, i think it is a must to have a solid backup plan, that include internet and the means to trade.
Luckily nowadays technology real good, a phone can be all in one. I dont like to trade from phone, but some do, and all fine.

However if your phone and mobile net is your primary internet, my suggestion to have a different secondary backup still, what can go wrong might just go wrong!!


as for the trades, closed all.
2 part EurNzd long, for the rebound, total +0.17%.
first trades for the week, but at least decent start. in a pitch black room. ( now all back to normal)

today trading started slow, anyway, i was planning to trade the high impact news on CAD, so, was taking it easy before.
prior a while before the news, a tiny Gcad scalp ( short), some slippage in, closed out premature at 5 or 6 pips...probably 0.015% gain? did i say tiny?! lol

the CAD news,
i came fast and furious.
i was ready.
the 3 main cad pairs opened, EurCad, UsdCad, GbpCad. levels checked, marked by alert/beeper, then back to scalping TF, M5.
my choice chart was GbpCad, since i already had that tiny scalp on it, EurCad had some trades few days ago...like to rotate things, less boring.
nah, the real reason is range, the bigger the jump the bigger the chance for a decent counter move.

and the jump was BIG!
exactly 5 sec after the news i was in, manual entry, when the price was over -300 pips down...little slippage, but expected on these types of scalps.
exactly 15 seconds after the entry, i closed the trade, and was done for the day.

some days things go as planned, it was one of that.
today total +0.47%.
i am satisfied with it.

Hi PF ,
sorry for this OffTopic buddy , but it seemed me interesting to show how many FF members were online today , during the Draghi conference : more than 38.000 traders !

you trade a million dollar account dont you...it's nice and consistent. i just don't see you trade this conservative for anything less than say $300k

Hilmy, the truth is that i grew up in a communist country ( Hungary) where salaries are not and were not comparable anything like on the West.
My personal account is a lower range 5 digit one, in the moment. I get when some in 3rd world countries struggle to open a 1k account...
I manage some money, and included that, your assumption is about correct

explains the big volatility earlier in EurUsd...but that always welcome!

today was a relative active scalping day for me...
but apart from that i was on the lookout for a simple, working trade copier that can handle 2 accounts, locally or over the net.
fxblue i could not get working for me, only for 1 account, and this is not where to settle for half success!
ended up testing a trial verson from mql5, the catch is that 150 or 250$ licence! something to think about!
on the positive side, it is something i call idiot proof, even i could set up and make it work within 5 min tops!!
fun fact: setting up played with some pending orders to check response time....not much, maybe 15-20?...guess my friend i trade for will get freaked out to see all the cancelled pending orders, not knowing the reason! LOL.

the trading or scalping rather...
9 entries total today.
started with EurUsd shorts x3, 2 win 1 loss, decent gain, but early exits...actually most trades today turned out that, again...damn!
GbpUsd x2, 1 win 1 loss, wrong timing, i lost a little on this pair overall, should be more patient to hold and let it work out, it would.
UsdCad x3, 2 win 1 loss, second best after Eu results
GbpJpy x1, 1 win.

all together +0.32%. since scalping, individually they arent much gain,but together they added up nicely by the end of the day.
with this September already passed 1%, and looking to be on track for a stronger month ( than August).
things definitely looking bright right now, on many levels.

PS: was invited to a small chat group by few forum traders from here, thanks for them!
it is good to have some feedback, share some thoughts, and take some of the lone aspect part out of trading.

Friday, end of the week!

today, unusual for me, trading started in Asian session, with a sudden breakdown of UsdCad...and pretty much all ended also in Asian session.
being Friday, the positions trades that finally set yo, and was waiting for all week got scratched.
a mistake, especially looking at the chart now toward the end of the day, but there is an unwritten rule try to avoid carry positions into weekend, and thus i prefer to open my position trades on Tuesday to Thursday if possible.

that said, it went on as a good enough scalping day, with many opportunities passed on later the day, having made my profit earlier. maybe another mistake, but hay, weekend is around the corner!!, it is time to take a bit easier.
the entries:
UsdCad x2, 2 win
EurUsd a 2 part, 1 win 1 loss
GbpUsd x2 2 win

total today: +0.32%
the week ended at +1.29%, bringing the running total for this month to just +1.54%.
trading surely get busier so far in September vs August, and i am very happy with the results for now.
drawdown, as i past weeks, stayed <1% at any given time ( <0.5% is correct too for this week)
no open trades, flat for the weekend!

happy weekend!

for few this might be of interest!

Was in a previous post writing about trader funding, or sort of prop trading...
.
since now i see the banner ad here in FF.com, i can comment on with name.
https://fixi.com/8-steps-hedge-fund/
read FAQ too.

for those who are able to open 10k account, i think this opportunity worth the trouble!
note, this is not the usual pay for your combine, pay for education first in hope to get funds, or pay a monthly ongoing fee in "renting" capital to trade with.
i know, that some "prop firms" offer 60-80% of profit, and 25% might sound low, BUT considering that you potentially recieve 5-10x more trading capital from the onset, and no particular monthly profit targets, etc, i think it is decent deal.
the only little drawback is the quarterly payout; for those with the short term mindset that is difficult to work.
my understanding that passing a certain level it is a negotiable detail in the conditions.

now, my side.
i was contacted by one of the committee member via different channel, and not direct sign up, but that doesnt make a difference in the outcome.
was selected for some funding, and this month ( after some delays) trading should commence as well finally.

my immediate aim is to replicate my TE in regards of drawdown, and of course to get in turn multi-million allocation!
is it possible?
time will tell!

some probably will say 180 days consistent profit also impossible with low drawdown, but then here we are!

Awesome. good luck on this new journey! I'm certain you'll make it and some!

Once in a while Monday still offers decent action, like today...only to find me somewhat unmotivated to trade, and ready to fall asleep at the monitors.
1 GbpJpy short scalp, a 2 part UsdNok short scalp... +0.07%
Could be a lot more. Could be a lot less.
Another day, another trade, tomorrow

sometimes things dont go as planned.
today EurNzd was falling like stone, rapidly losign around 140 pips in about 1 hour span, making it a decent scalping candidate for a rebound.
or so i thought. but it wasnt the case really.
since just had made a few pips on it first attempt, i was assuming a double bottom, and went in to repeat.
only to watch it go against me another 80 pips, rapidly enough, with a progressive lot sizing grid, the losses also adding up quick enough that i think some point the drawdown reached 1.2%.
most certainly nothing major, but also most certainly not what i was planning for neither.
basically a decent 20 pips turnaround could save the day any time, only there was some near miss, but no 20 pips or so pullbacks.
in these situations, the best i can do is try to have the bottom out, around/near breakeven, and see if the pullback to happen or not.
in this case was not really, and decided just about 2 pips above my BE point to pull the plug on it.
do you believe that at some point today there will be a pullback to over 1.65 and i could have a very good profit holding this basket until? yes, i do.
am i willing to see the BE trade, that fundamentally not working out to what the plan was for, go back into 1%+ drawdown? no i am not.

out just above BE.
as of the the writing, the price in back to the 1%+ drawdown point ( me out) and i am ready to start to reload...
there is always, always another trade!!
( but if i have a chance i will scalp the shit out of EN today!!)

note: chart is M1 to better show the positions, note bottom closed earlier. it is right before price went back to the low point.

just a little note on TEs...

i like to browse the forum, and like to see live TEs, and check how others perform.
not that much a comparison thing than curious, since i have drawdown of choice that limits return as well.

what i noticed that sometimes the big numbers are misleading.
TE like to take balance as performance to show, and balance can look good even if equity is in 50-60% open drawdown!
also due the nature of TE's profit vs total deposits, if some adds funds later to an existing account is penalized, those who withdraw funds the TE shows lot higher return % than there really is.

that said, i wish more traders would have a TE added.

just noticed that journal passed the 15.000 views.
not many commenting, but some must be checking out...

according to myfxbook, my best W% are on Tuesdays, followed by Thrusdays.
Tuesdays are or better to say were standing @ 97%....
well, someone forgot to tell the market it is Tuesday again, cos today my hit rate more looking like 65%.

heavy scalping day, but sort of fun, apart from that early EN set, that of course had rebound as thought, but without me in the larger drowdown, or me cashing in big.
total 23 entries today.
22 scalp entries, 1 position trade, a scout, opened on GJ, currently in a smallish drawdown. the swap is not bad, the pair is ripe for a pullback, i am ready to hold it overnight with 145.50 in mind.
by end of the day the negative pips suffered on EN worked out to be few plus pips, all is fine in that department too then.
the closed position total: +0.47%.
only the summary: EurNzd x10, GbpJpy x9, NzdJpy x1, EurJpy x1, GbpCad x1.

will see how the GJ position fares, i am prepared to scale into it if there is chance, and of course hope to wake up for a TP...