Developing a system - LIVE experiment ;)

Net realized P/L:-$245
Account Balance: $714

Trade 13:

Currencty Pair: USD/JPY
Order type: Instant Execution
Buy/Sell: Sell
Lots: 2
Order rate: 118.33
Limit: 117.50
Stop Loss: 118.90

Potential profit: 83 pips
Potential loss: 57 pips
Risk/Reward: 1.45:1

I'm not sure why I follow your journal with interest, but I do. One thing I've noticed is that you either trade against the trend or you trade late in the day. Both of those are tough ways to make money. If you think the USDJPY is going down that's fine. I have no idea and don't engage in predictions like that. The fact is that it has been going down all day. Always drink upstream of the herd, don't wait until all the cows has releived themselves to jump in on a trend. You're 100 pips behind the game already.

P.S. Can you fix the spelling of Portland? I've kept silent for 3 days but can't take it anymore!

Oh, sorry but from your previous thread you said that you were testing out a system fom an ebook, so I though that this was still the same system that you where testing out since you said that you moved the thread.

ok, let's try to not only give criticism, but also something to go forward with..

"Trading with the trend.." good idea. But which trend? Is there a trend, or is it all just ranging..?

One thing is clear. To look for a trend, you go to the higher time-frames.
From there several ways can be taken: what is the price doing, how is the slope of the macd, have certain MA's crossed, what kind of divergence..
Search out for yourself with what you're most comfortable..

So far for the direction.. Secondly, when to enter/exit..?
Maybe you can start on learning on how to spot reversals.. Then, when it becomes clear that the reversal has taken off, enter in the direction of the trend, set your SL right above the reversal point,and base your exit point on f.i. fibo-levels or previous res/sup levels.

Reversal spotting takes a while to grasp, but f.i. candle formations can help, or again also fibo-levels, etcetera..

Ok, maybe you knew allready the most of it, just a refresher than..
in any case,

happy trading.

(and remember: in se, trading is a boring thing, so get your real thrills somewhere else or you're bound to loose)

First off congrats for your account, i am new like you and i believe you really need to listen to some of what these people are saying, first thing u need to do is actually get a system, there are many out there just look in the general discution section and you will see hundreds, follow one and listen to the people like philmcgrew, Dialist, James16 and many many others who are giving you honest advice that is for your best intrest. and maybe after using these systems for a while you will notice some kind of pattern that will fit in a system you create, anyways good luck

G-dogg