100 Trades Analysis

Trade #3
EUROCHF
Stopped out @ 1.5951
Net Pips: -11 pips
R: -0.40

Trade #5
USDJPY
Stopped out @ 117.92
Net Pips: -56 pips
R: -1.00

Trade #4
EUROCAD
Move S/L to 1.4527

Trade #7
USDCAD
Move S/L to 1.1316

We got a lot of trades open

Trade #8
SHORT
GBPJPY @ 224.07
S/L: 225.05
Pips risked: 98 pips

Trade #9
SHORT
GBPUSD @ 1.9026
S/L: 1.9137
Pips risked: 111 pips

Trade #10
LONG
AUDNZD @ 1.1558
S/L: 1.1515
Pips risked: 43 pips

Trade #11
LONG
USDJPY @ 117.81
S/L: 117.05
Pips risked: 76 pips

Trade #12
SHORT
CHFJPY @ 94.68
S/L: 94.90
Pips risked: 22 pips

Trade #13
LONG
USDCHF @ 1.2442
S/L: 1.2374
Pips risked: 68 pips

Trade #14
SHORT
EUROUSD @ 1.2809
S/L: 1.2869
Pips risked: 60 pips

Trade #15
SHORT
EUROJPY @ 150.81
S/L: 151.26
Pips risked: 45 pips

ps Keep in mind, that I do rate these trades in order. And I keep decent amount of usable margin as buffer.

Don't want to dog or knock how you trade, just thinking that you may want to keep your pairs down to a 'managable' amount, that way you don't have so many pairs to worry about.

My 2 pips...

well my system is very much mechanical. I move from one market to the next rather quickly only spending about 2-3 minutes to see if my system gives any trigger.
Plus I use proper percentage risk on each trade. So if i have 10 triggers, I rate them accordingly, and place the lowest risk onthe least probable trade. That way, I make sure that my margin available is controlled properly

I was checking my trades online at work. Seems like a few trades were very close to hitting my stop losses. Some a few pips above or below, and one pair was actually dead on the stop loss I set. But since I used MT4 for analysis, thus using IBFX prices, the prices may vary a bit from Oanda, so I don't know which pairs got stopped out during these horrendous 'negative' news we've been getting.

Crazy news traders

Sounds good, i just remember me when i first started trying to get a piece of every action, in every currency pair... Yea it didn't go to well, now i just focus on a couple pairs, use a higher TF, and wait for my entry. Some other traders on here said it better "It's about the quality of the trades, not the quantity" Again man, not trying knock your trading style, just trying to give you input. I don't want to waste anymore of your trading journals posts, so good luck!!

B

Ok some updates. The news today were pretty psychotic so some of our trades were stopped out.

Trade #12
CHFJPY
Stopped out @ 94.9
Net Pips: -22 pips
R: -1.00

Trade #15
EUROJPY
Stopped out @ 151.26
Net Pips: -45 pips
R: -1.00

Trade #14
EUROUSD
Stopped out @ 1.2869
Net Pips: -60 pips
R: -1.00

Wow, so far we haven't had a single winner :
This is a good example of one of those drawdowns that all systems experience once in a while. This is when disciplined and consistency must be summoned in order to overcome any negative thoughts that might come into play. In order for me to move on from a 'newbie' to the next level, I must able to deal with these losses and move on.

ps.
I had a trade closed today using the same system but before I made the thread

EUROAUD
Stopped out @ 1.6712
Net Pips: 197 pips
R: 4.47

Remember to stick to the trading system, and your reward shall follow.

Trade Updates

Trade #4
EUROCAD
Move S/L to 1.4540

Trade #7
USDCAD
Move S/L to 1.1345

Trade #8
GBPJPY
Move S/L to 223.32

Trade #9
GBPUSD
Move S/L to 1.9032

Trade #10
AUDNZD
Move S/L to 1.1519

Trade #11
USDJPY
Move S/L to 117.24

Trade #12
USDCHF
Move S/L to 1.2389

Some of these trades have some profits locked in, and others have the risk minimized.

Ok, new trades.

Trade #16
SHORT
EUROJPY @ 150.78
S/L: 151.18
Risked pips: 40 pips
Percent risked: 2%

Trade #17
SHORT
EUROUSD @ 1.2813
S/L: 1.2861
Risked pips: 48 pips
Percent risked: 2%

Trade #18
SHORT
EUROAUD @ 1.6728
S/L: 1.6769
Risked pips: 41 pips
Percent risked: 1%

I let you know what these percent risks are later

Hmmm, 14 trades and not a single winner? I think you might be missing some pre mkt preps before making trades. Anyway i wish you all the best in your 100 trades analysis. I'm sure all of us will get to learn something out of it. Thanks for sharing.

Jest

Just to clarify I have made 14 trades so far, but I have not yet have a winner. It doesn't mean I have 14 losses. I still have open trades.

Check the beginning of the thread to see what I mean.

I see, apologies, my bad.

Ok let me explain to anyone who's interested about the 'percent risked'. The percent risk in a system pretty much designates how much of your equity is going into each trade. A lot of people seem to follow the 1-2% rule, but others may use 5% or more. This really depends on you as a trader but more importantly on the system you use. You need to run forward tests to see how well your system behaves than use proper risks based on its performance.

I decide that I will use 1% or 2% of my current equity (minus risks of open positions) on my trades. I have implemented a rating system based on the rules of the system. So like I said, if I have many triggers, I would rank them, then assign the appropriate percent risk. I didn't do this in the beginning (my mistake), but I will from now on. The % risk helped me to 'bet' on high probability trades and minimize my exposure on the low probability trades.

The % risk is also important in my system because it will decide on how much I will add on a position (when opportunities exist). But we'll visit this issue later when the time comes.

In addition, for those who are following this thread (I hope), you will know that I also record these trades in an excel format. So all the information plus some additional ones are recorded as I make a trade and as it closes. This of course would ease the analysis process once we get our 100 trades in.

I have attached the excel file that I have with the information thus far.

Trade #4
EUROCAD
Move S/L to 1.4556

Trade #7
USDCAD
Move S/L to 1.1358

Trade #9
GBPUSD
Move S/L to 1.8974

Trade #10
AUDNZD
Move S/L to 1.1560

Trade #11
USDJPY
Move S/L to 117.59

Trade #13
USDCHF
Move S/L to 1.2427

Trade #17
EUROUSD
Move S/L to 1.2845

Alright updates on closed trades

Trade #8
GBPJPY
Stopped @ 223.32
Net Pips: 75
R: 0.76

(no emotions here..hehe)

Trade #16
EUROJPY
Stopped @ 151.18
Net Pips: -40
R: -1.00

Trade #18
EUROAUD
Stopped @ 1.6769
Net pips: -41
R: -1.00

Trade #19
SELL
AUDUSD @ 0.7650
S/L: 0.7663
Pips risked: 13

Trade #20
SELL
CHFJPY @ 94.61
S/L: 94.81
Pips risked: 20

Woops, I just noticed my mistakes. The S/L's should be

Trade #4
EUROCAD
Move S/L to 1.4556

Trade #7
USDCAD
Move S/L to 1.1356

Trade #9
GBPUSD
Move S/L to 1.8960

Trade #10
AUDNZD
Move S/L to 1.1560

Trade #11
USDJPY
Move S/L to 117.56

Trade #13
USDCHF
Move S/L to 1.2438

Trade #17
EUROUSD
Move S/L to 1.2845

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Journal Update,

I will break the 100 trades analysis into sections. What I mean is that I am testing out a few filtering methods so that we can reduce our drawdown.
After I get my first 20 trades closed, I will implement a filtering method and we will see how that affect the trades.

I get this idea from Mark Douglas 'Trading in the Zone'. In it, he mentioned one should follow a system for 20 trades in a row purely without any deviation from the rules. Then analyze the results and modify it to improve its performance.

So basically I will:

Get 20 trades in
Analyze the results
Implement a filtering system to improve performance

We will keep doing this until I am satisfied with the results that fits my personality.
Basically a system with a decent winning percentage (>50%), low drawdowns, and enough frequency so that I wouldn't feel out of the market too long (no more than a week).

Let's continue on...

http://img179.imageshack.us/img179/228/pictq9.jpg


Just updates on the trade. I think the system has a lot of promise. It just needs a few decent filters so I don't have to trade ALL the time, and not have to experience large drawdowns

Another update. I've got to find me a filter

Trade #19
AUDUSD
Stopped @ 0.7663
Net Pips: -13
R: -1.00