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G-dogg's Journal

  • #1
  • First Post: Edited Nov 22, 2006 11:26am Nov 21, 2006 2:24pm | Edited Nov 22, 2006 11:26am
hi, first off thanks for taking a look at my journal, i wont mind if you post in my journal but i will start out by listing one rule for anyone posting "If you dont have something nice to say its better to say nothing at all", i.e. if you think im a looser, punk, failer what ever keep it to your self and enjoy watching me fail/succeed(that is the point of the whole journal anyway). hopefully we have that cleared out of the way, now to tell you more about what my plan is, i found an amazing system called the priscan system its sweetness lies in the 3hr, 1 day, 1 week charts honestly works like a charm. i have backtested it alot and demo tested it for a week or two and it seems quite reliable and i have trust in it. i started trading it live since yesterday and it has given me outstanding results using XAU/USD so here is what i have so far and i will try to keep this journal updated as much as my old skool note pad journal.
EP= entry price
TP= take profit

11/20/06 XAU/USD 2units long EP=624.90 TP=625.90 hit +100 pips
11/20/06 XAU/USD 1unit long EP=621.70 TP=621.80 hit +10 pips
11/20/06 Eur/Gbp 400 units short EP=0.6754 TP=0.6753 Closed manually -2 pips
11/20/06 XAU/USD 1unit long EP=623.10 TP=625.0 Closed manually +70 pips
11/20/06 XAU/USD 1unit long EP=624.40 TP=625.40 hit +100 pips
11/20/06 Usd/JPY 500 units long EP=118.09 TP=118.50 OPEN
11/21/06 XAU/USD 1Unit long EP=627.40 TP=628.40 hit +100 pips
11/21/06 XAU/USD 1unit long EP=626.80 TP=627.80 hit +100 pips
11/21/06 XAU/USD 1unit long EP=629.10 TP=630.10 OPEN (edit Closed on 11/22/06 target hit +100 pips)

so far im up this week about +578 pips, i know many will argue why didnt i keep the positions open, well thats a weakness on my side i feel safer with a TP but im trying to get over that and stick with the system's orignal rules it takes time but i will get there!

G-dogg
Egyptian and proud of it!
  • #2
  • Nov 21, 2006 3:12pm Nov 21, 2006 3:12pm
what is XAU? or whatever that is?
  • #3
  • Nov 21, 2006 3:51pm Nov 21, 2006 3:51pm
Quoting enoc2g
what is XAU? or whatever that is?
Gold i trade it through oanda
Egyptian and proud of it!
  • #4
  • Nov 21, 2006 4:36pm Nov 21, 2006 4:36pm
I have something nice to say: Keep the good work, i wish you sucess in trading but more important in live Negative comments will arrive, it's just the nature of humans, don't let that affect you G!

  • #5
  • Nov 21, 2006 5:10pm Nov 21, 2006 5:10pm
Quoting g-dogg
hi, first off thanks for taking a look at my journal, i wont mind if you post in my journal but i will start out by listing one rule for anyone posting "If you dont have something nice to say its better to say nothing at all", i.e. if you think im a looser, punk, failer what ever keep it to your self and enjoy watching me fail/succeed(that is the point of the whole journal anyway). hopefully we have that cleared out of the way, now to tell you more about what my plan is, i found an amazing system called the priscan system its sweetness lies in the 3hr, 1 day, 1 week charts honestly works like a charm. i have backtested it alot and demo tested it for a week or two and it seems quite reliable and i have trust in it. i started trading it live since yesterday and it has given me outstanding results using XAU/USD so here is what i have so far and i will try to keep this journal updated as much as my old skool note pad journal.
EP= entry price
TP= take profit

11/20/06 XAU/USD 2units long EP=624.90 TP=625.90 hit +100 pips
11/20/06 XAU/USD 1unit long EP=621.70 TP=621.80 hit +10 pips
11/20/06 Eur/Gbp 400 units short EP=0.6754 TP=0.6753 Closed manually -2 pips
11/20/06 XAU/USD 1unit long EP=623.10 TP=625.0 Closed manually +70 pips
11/20/06 XAU/USD 1unit long EP=624.40 TP=625.40 hit +100 pips
11/20/06 Usd/JPY 500 units long EP=118.09 TP=118.50 OPEN
11/21/06 XAU/USD 1Unit long EP=627.40 TP=628.40 hit +100 pips
11/21/06 XAU/USD 1unit long EP=626.80 TP=627.80 hit +100 pips
11/21/06 XAU/USD 1unit long EP=629.10 TP=630.10 OPEN

so far im up this week about +478 pips, i know many will argue why didnt i keep the positions open, well thats a weakness on my side i feel safer with a TP but im trying to get over that and stick with the system's orignal rules it takes time but i will get there!

G-dogg
Gold moved 500 pips in 2 days? What the, let me in on some of that action. oh and what is this system that u have?
Ghost Swoopen in for my pips while no one is lookin !!
  • #6
  • Nov 21, 2006 5:23pm Nov 21, 2006 5:23pm
Quoting Miguel
I have something nice to say: Keep the good work, i wish you sucess in trading but more important in live Negative comments will arrive, it's just the nature of humans, don't let that affect you G!

thank you i apreciate your encouraging remark , btw this is live trading!. good luck with your trading
Egyptian and proud of it!
  • #7
  • Nov 21, 2006 5:26pm Nov 21, 2006 5:26pm
Quoting Ghostpipper
Gold moved 500 pips in 2 days? What the, let me in on some of that action. oh and what is this system that u have?
yep, every time gold moves up or down 1 dollar in price that's a 100 pip move, if you look at kitco charts you will see how much gold moves with in a day it can easy move 500-1000 pips a day with out breaking a sweat, thats the main reason i started trading gold!, im using the priscan system by mestx41 on the 3hr, 1 day, 1week charts
Egyptian and proud of it!
  • #8
  • Nov 21, 2006 5:37pm Nov 21, 2006 5:37pm
Quoting g-dogg
yep, every time gold moves up or down 1 dollar in price that's a 100 pip move, if you look at kitco charts you will see how much gold moves with in a day it can easy move 500-1000 pips a day with out breaking a sweat, thats the main reason i started trading gold!, im using the priscan system by mestx41 on the 3hr, 1 day, 1week charts
im going to have to get to know this gold trading, who do u use for a broker? does gold move that much all the time?
Ghost Swoopen in for my pips while no one is lookin !!
  • #9
  • Nov 21, 2006 5:49pm Nov 21, 2006 5:49pm
Quoting Ghostpipper
im going to have to get to know this gold trading, who do u use for a broker? does gold move that much all the time?
im using oanda, and gold seems to move alot just go to kitco (its a dot com website i dont want to put a link for it because mods might think im advertising or something) and look at the charts you will see alot of movement in the past couple of hours (it seemed to have moved up and down a few dollars within the last 12 hours) it moves alot on a daily basis as you can see from the amount of trades i took it. but watch out for the spread its usually around 50 pips or so.
Egyptian and proud of it!
  • #10
  • Nov 21, 2006 5:58pm Nov 21, 2006 5:58pm
Quoting Ghostpipper
Gold moved 500 pips in 2 days? What the, let me in on some of that action. oh and what is this system that u have?
Gold moves well but doesn't have the same value as currencies.

1 pip on a mini account ($10000) = 0.10

So 500 pips would only be $50

I have been following it for a while on demo and it's nice to trade. Doesn't jump around as much as currencies and tends to have a regular pattern.
  • #11
  • Nov 21, 2006 6:21pm Nov 21, 2006 6:21pm
Quoting g-dogg
im using oanda, and gold seems to move alot just go to kitco (its a dot com website i dont want to put a link for it because mods might think im advertising or something) and look at the charts you will see alot of movement in the past couple of hours (it seemed to have moved up and down a few dollars within the last 12 hours) it moves alot on a daily basis as you can see from the amount of trades i took it. but watch out for the spread its usually around 50 pips or so.
wwwwwooooooowwwwww 50 pips?
Ghost Swoopen in for my pips while no one is lookin !!
  • #12
  • Edited Nov 23, 2006 11:35am Nov 22, 2006 11:44am | Edited Nov 23, 2006 11:35am
so since the dollar took a big hit today cuz of the news, gold seems to be going up, my tp was hit on my last trade so im up +100 pips to a total of +578 pips this week, im very proud because i brought my account from $26.24 to about $32.79 this week which is a $6.55 gain which is +24.9% increase
anyway's these are my current open positions as we speak

11/20/06 USD/JPY 500 units long EP=118.09 TP=118.50 OPEN
11/22/06 XAU/USD 1unit Long EP=629.20 TP=631.20 (Closed at +20 pips due to possible pin bar formation going south)
11/22/06 EUR/CAD 100 units long EP=1.4774 TP=1.4784 OPEN (first time to trade this pair lets see...) EDIT: Target hit +10 pips
11/22/06 XAU/USD 1unit Long EP=629.40 TP=630.40 OPEN (hmm not very sure about this one, but pin bar formation doesnt seem to have done any thing gold still seems to be in a bullish trend,we'll see tomorow morning anyways ) EDIT: WHOO target hit +100 pips

thinking about it i might stop trading currencies all together and just stick to gold as it seems to be much more predictable, well the way i think of it gold is not a country it usually remains the same and not alot of new's affects it usually only the usd dollar affects it. vs. the fact that when trading currencies one has to look out for any new's affecting the other currency, movements of that certain currency from banks to market affects the price so its harder to predict imo. well no trading for tomorow though, happy thanksgiving to everyone, now go cook some turkey !!!
Egyptian and proud of it!
  • #13
  • Nov 23, 2006 1:49am Nov 23, 2006 1:49am
hey g-dog i'm glad to see the systems working for you! good luck with your trading and if you have any questions just PM me.
  • #14
  • Nov 23, 2006 3:33am Nov 23, 2006 3:33am
i am curently demoing with oanda i cant find any charts over 1 day can you please tell me how can i set up my charts to weekly
thanks
  • #15
  • Nov 23, 2006 11:32am Nov 23, 2006 11:32am
Quoting JK$$$
i am curently demoing with oanda i cant find any charts over 1 day can you please tell me how can i set up my charts to weekly
thanks
i dont use oanda for charting, i use MT4 due to its flexablity and wide range of charts. good luck with your trading
Egyptian and proud of it!
  • #16
  • Nov 23, 2006 11:34am Nov 23, 2006 11:34am
Quoting mestx41
hey g-dog i'm glad to see the systems working for you! good luck with your trading and if you have any questions just PM me.
thank you very much, its an honor that you would post in my journal. i will pm you if i have any questions
Egyptian and proud of it!
  • #17
  • Nov 23, 2006 5:19pm Nov 23, 2006 5:19pm
g dogg thank you for your reply 1 last Q? where do you go on MT4 to add the XAU/USD i find all the other pairs cant find Gold i ma sorry i am a newb and i still try to discover how my platforms work
  • #18
  • Edited Nov 24, 2006 9:24am Nov 23, 2006 6:15pm | Edited Nov 24, 2006 9:24am
Quoting JK$$$
g dogg thank you for your reply 1 last Q? where do you go on MT4 to add the XAU/USD i find all the other pairs cant find Gold i ma sorry i am a newb and i still try to discover how my platforms work
i downloaded MT4 from here this is northfinance's website i downloaded thier MT4 version which includes thier demo which offers gold in it, you'll like MT4 for chrating as you can virtually download any indicator or EA for it and it uses multiple time frames and data for the previous years too, and finally if you really like it you can transfer to a broker that uses it. Good luck with your trading and if you have any other questions feel free to ask .

EDIT couldnt resist the urge of not trading today so i took a postion and here it is:
11/23/06 XAU/USD 1unit Long EP=631.10 TP=634.10 edit Target Hit +300 pips
11/23/06 XAU/USD 1unit Long EP=632.90 TP=634.10 edit Target hit +120 pips
11/24/06 XAU/USD 2Units Long EP=639.70 TP=640.70 OPEN

and for the first time i had to take my biggest loss since starting this journal, its a -180 pip loss on the USD/JPY, that hurt big time, but taught me a good lesson a 50 pip stop would have been a whole lot better than this. Finally i would like to add that this journal is making me more responsible with my trades as i show all my profit and loss to everyone so i feel ashamed of my losses. i feel like i will continue doing this for a long time

G-dogg
Egyptian and proud of it!
  • #19
  • Nov 23, 2006 11:03pm Nov 23, 2006 11:03pm
g dogg thanks alot for your help i downloaded the MT4 and it seems promising they got great charts and almost evry indicator thanks again and good luck with your trading i will checking your journal for more info about applying priscans method on gold
  • #20
  • Nov 23, 2006 11:40pm Nov 23, 2006 11:40pm
Quoting g-dogg
i downloaded MT4 from here this is northfinance's website i downloaded thier MT4 version which includes thier demo which offers gold in it, you'll like MT4 for chrating as you can virtually download any indicator or EA for it and it uses multiple time frames and data for the previous years too, and finally if you really like it you can transfer to a broker that uses it. Good luck with your trading and if you have any other questions feel free to ask .
Hi g-dogg,

i downloaded the MT4 from nf and i see gold offer but i dont find XAU/USD as you mention in ur thread.

Pls advice, thank you in advance.
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