MRDFX's Journey to Freedom | Forex Factory

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MRDFX's Journey to Freedom

  • #1
  • First Post: Jun 12, 2018 4:12pm Jun 12, 2018 4:12pm
Hello guys and welcome to my journal. :-)

This thread will be where I post my trades, and just to keep track of my own personal trading journey.

I use a range of various strategies as I believe that only 1 strategy is not suitable to all the types of market conditions, so having a variety of strategies can help you to hopefully have an edge in the market.

My most commonly used strategies I employ is trading currency strength, contrarian trading, and also trading trends, and trend reversals. I do believe that using this approach will help me to stay ahead of the other guys.

That being said, as a retail trader we are already destined to fail statistically, that forex truly is a negative sum game, and the challenge is staying on the other side to survive.

I will be posting my trades here as I go when I can, and I do have a linked TE where you can follow along with whats going on on my account. This isn't my main personal account, but most trades are replicated on this one.

Happy trading. Green pips to you all. :-)
Truth is like poetry. And most people f*cking hate poetry.
  • #2
  • Jun 12, 2018 4:26pm Jun 12, 2018 4:26pm
This month has been really good so far, I had a few really good calls that paid off pretty nicely.

This months performance is not typical, but I'll be happy and take it.
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Truth is like poetry. And most people f*cking hate poetry.
  • #3
  • Jun 13, 2018 2:02am Jun 13, 2018 2:02am
Hi, Thanks for your wishes and green pips to you too...

From what I see, as of today, all looks perfect, good return chart, good profit factor, good win rate...

It looks like you have the perfect system here, it remains to be seen how much time you will be able to be consistent with it, I think this is the most difficult part, to keep those numbers over the long run, that's all I wish you !

Good luck!
Simplicity is the Ultimate Sophistication.
  • #4
  • Jun 13, 2018 7:59am Jun 13, 2018 7:59am
Quoting broketrader
Hi, Thanks for your wishes and green pips to you too... From what I see, as of today, all looks perfect, good return chart, good profit factor, good win rate... It looks like you have the perfect system here, it remains to be seen how much time you will be able to be consistent with it, I think this is the most difficult part, to keep those numbers over the long run, that's all I wish you ! Good luck!
Perfect system I wish hahaha..

Yes indeed that is a true test, being consistently profitable.

I will have my losing days for sure, but I use a strict MM so as long as I can have more winners than losers with good MM, I'll keep the account going successfully.

Thanks for joining. :-)
Truth is like poetry. And most people f*cking hate poetry.
  • #5
  • Jun 13, 2018 10:07am Jun 13, 2018 10:07am
Closed out of all USD positions ahead of FOMC.

+4.7%, I think that's enough for the day.

Don't get greedy and when profit is made, SOH!
Truth is like poetry. And most people f*cking hate poetry.
  • #6
  • Jun 14, 2018 8:03am Jun 14, 2018 8:03am
Wow what a day its been!

I opened up some shorts on Gold last night as I was anticipating a stronger dollar so my thoughts was that Gold would drop... wow was I wrong!

What's even more strange is that Gold normally correlates with EU and UJ, but this move with Gold isn't correlating with either of them!

Well I've added to the shorts on the way up to catch some profit when it comes down.
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Truth is like poetry. And most people f*cking hate poetry.
  • #7
  • Jun 14, 2018 9:12am Jun 14, 2018 9:12am
Quoting mrdfx
Wow what a day its been! I opened up some shorts on Gold last night as I was anticipating a stronger dollar so my thoughts was that Gold would drop... wow was I wrong! What's even more strange is that Gold normally correlates with EU and UJ, but this move with Gold isn't correlating with either of them! Well I've added to the shorts on the way up to catch some profit when it comes down. {image}
Ok well things are starting to look a bit better now.

Lets see gold melt!
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Truth is like poetry. And most people f*cking hate poetry.
  • #8
  • Jun 14, 2018 2:18pm Jun 14, 2018 2:18pm
Well managed to close up some of the Gold trades, and close the day with 14.6%, not too bad.

Still holding some DD, but I'll do some cost averaging, and close up the remaining positions in the next few days.
Truth is like poetry. And most people f*cking hate poetry.
  • #9
  • Jun 14, 2018 8:13pm Jun 14, 2018 8:13pm
Quoting mrdfx
Well managed to close up some of the Gold trades, and close the day with 14.6%, not too bad. Still holding some DD, but I'll do some cost averaging, and close up the remaining positions in the next few days.
So Gold dived as expected and all positions closed.

Another 1.4% added to finish with 16% for the day.

With tomorrow being Friday I will only enter positions if I see good opportunity in the market.
Truth is like poetry. And most people f*cking hate poetry.
  • #10
  • Jun 14, 2018 10:37pm Jun 14, 2018 10:37pm
Quoting mrdfx
{quote} So Gold dived as expected and all positions closed. Another 1.4% added to finish with 16% for the day. With tomorrow being Friday I will only enter positions if I see good opportunity in the market.
Hi Captain , having an eye on your logbook.
  • #11
  • Jun 15, 2018 3:44pm Jun 15, 2018 3:44pm
Well its been an eventful week with some pretty good profits secured.

There were a few moments during the week where I was holding some unwanted drawdown, but managed to close up in profit.

Closing the day with +9.3%, and the week with +51.5% wowzers haha..

Lets hope the next week will be as good!

Peace!
Truth is like poetry. And most people f*cking hate poetry.
  • #13
  • Jun 17, 2018 6:47pm Jun 17, 2018 6:47pm
All Gold trades that were holding from Friday have been closed for +1.4%.

I have done my weekly analysis for some pairs, and opened some orders.

I'll do more analysis tomorrow after London opens and see how the week goes.

Here's to another pipful week ahead!
Truth is like poetry. And most people f*cking hate poetry.
  • #14
  • Jun 17, 2018 10:17pm Jun 17, 2018 10:17pm
Quoting VEEFX
{quote} Thanks for putting up a TE. I applaud your courage. VeeFX: Eliminate inconsistencies from your Trading Plan. Please take a pause and re-assess your understanding of the underlined and bold. Relying on something over there to see if it happens over here will only work towards draining your profits and increase drawdown levels. It will always introduce inconsistencies in your performance curve. Traditional Pairs Trading strategies (outside of scalping) similar to going short on GM and long on Ford based on company fundamentals does not work...
Ha Ha
  • #16
  • Jun 18, 2018 7:31am Jun 18, 2018 7:31am
Quoting VEEFX
{quote} Thanks for putting up a TE. I applaud your courage. VeeFX: Eliminate inconsistencies from your Trading Plan.
Thanks for popping by.. I follow my own strategies, and when I enter a position its for a reason. I don't doubt or question my analysis, if and when a trade loses I check back and see what mistakes I made in my analysis, write it down and take note of not to repeat it, this ensures I continuously improve on my trading.

Now I have observed your activity around FF, and I see that you enjoy debating with other members. I'm not here to debate anything, this is my personal journal, and I will ask that you not spoil it with your feuds between other members.

You are welcome to join and follow along if you like, but please keep it tidy. Cheers.
Truth is like poetry. And most people f*cking hate poetry.
  • #17
  • Jun 18, 2018 12:07pm Jun 18, 2018 12:07pm
Well its been a good start to the week +7%, and still holding some trades that were opened last night.

I'll keep monitoring them and take profit if I see the sentiment changing.
Truth is like poetry. And most people f*cking hate poetry.
  • #18
  • Jun 18, 2018 12:20pm Jun 18, 2018 12:20pm
Ok I've been getting many PM's from members asking me all kinds of things lol.. Please note the following;

1. I do not do any kind of teaching or mentoring.
2. I do not offer any signal service.
3. I do not have any copy trade service.

This is a personal journal of my trading to keep track of my trading progress, and also to have a kind of accountability of my trading.

You are welcome to follow along as I trade.

Like I said in the first post I use a variety of different strategies, I don't believe in following only a single strategy to be profitable. The market is dynamic and ever changing, and you need to adapt to the different market conditions if you want to survive.

I mainly trade currency strength, breakouts, S&R, as well as using the contrarian approach, and trend trading. I trade manually, and also have some EA's running on the side. I will access the market conditions, and apply each strategy as needed to make profits.

Another important aspect of trading, something which took me a long time to learn is controlling emotions, and sticking to my trading plan. Letting my emotions dictate my actions and deviating from my trading plan led me to blowing many accounts in my early trading days. Yes I learned the hard way unfortunately, but looking back it was for the best as these expensive lessons I learned help me become the trader I am today.

Well that's all for now, I'll keep sharing my thoughts about trading as we go along. Happy trading guys! :-)
Truth is like poetry. And most people f*cking hate poetry.
  • #19
  • Jun 18, 2018 1:02pm Jun 18, 2018 1:02pm
Just seen this at the bottom of my profile page.

Has anyone else received this?
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Truth is like poetry. And most people f*cking hate poetry.
  • #20
  • Jun 19, 2018 2:05pm Jun 19, 2018 2:05pm
Hello guys wow what a roller coaster day!

Woke up this morning to see the account was holding some almost panicking DD, but throughout the day I managed to do my thing, and bring it down a lot, closing the day with +6.3% profit, and holding less than 10% DD.

The main factors was getting caught on the wrong end of GU and EJ during the night. With this US/Trump/China trade war saga, and the fact that YEN tends to be a favorite safe haven during volatile economic activity strengthened all YEN pairs. The USD also seems to be favoring the current market with USD still very strong overall.

I'm still holding down some GU and EJ trades, and will monitor them closely to do some cost averaging and close them out in profit.

Overall a kinda hair raising day, but still managed to secure some profit along the way!
Truth is like poetry. And most people f*cking hate poetry.
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