yeah that was my idea too.....but so basically you punch in everything each day by hand as well right....
Part Time Wealth Building Trading System - Daily Scalping
- #1,865
- Jun 22, 2007 4:58am Jun 22, 2007 4:58am
yeah i do the same thing, i was just wondering whether there is a way to isolate single positions in the trading platform and export them to a file. you know, something more automatic which also lowers the risk of typos
We leave no soldier behind.
- #1,867
- Jun 22, 2007 6:16am Jun 22, 2007 6:16am
depending on your platform, and your broker, set up a different account for each system... it's annoying, but it's one way..
otherwise, improve your typo's, it's the easiest way
or trade one strat per currency pair... then when you print your monthly statement, you know what was what...
in the end, come tax time, what did you start with, what did you end up with... give that to your accountant and if you ever get audited, give them the transaction history and let them sort out the mess. haha
otherwise, improve your typo's, it's the easiest way
or trade one strat per currency pair... then when you print your monthly statement, you know what was what...
in the end, come tax time, what did you start with, what did you end up with... give that to your accountant and if you ever get audited, give them the transaction history and let them sort out the mess. haha
- #1,871
- Jun 22, 2007 7:22am Jun 22, 2007 7:22am
- Joined Jan 2007 | Status: Trader | 3,719 Posts
i closed my g-u short @ 1.9924.
entered a long @ 1.9928, and moved sl at b/e. when this 4h candle closes, i'll move sl @ 1.9944.
as for g-j, same thing. i opened @ 246.15 and my actual sl is @ 246.82, i'll move it up to 247.30 (candle low on my chart) when this current 4h candle closes.
and that's it.
entered a long @ 1.9928, and moved sl at b/e. when this 4h candle closes, i'll move sl @ 1.9944.
as for g-j, same thing. i opened @ 246.15 and my actual sl is @ 246.82, i'll move it up to 247.30 (candle low on my chart) when this current 4h candle closes.
and that's it.
Damn, this GY pair is unstoppable. Im 90% sure it will reach 250 before we see the expected retracement. Currently up 100 pips. Moved stop to 247.
Lost 40 on GU. Damn pair, I decided some time ago not to trade it because its worse than GY in my opinion, it makes really ugly moves without much sense to me. Will keep it as an index for GY from now on.
Nihil Sine Deo.
- #1,876
- Jun 22, 2007 9:05am Jun 22, 2007 9:05am
Well done Al_Have.
These days were quite something to me. One of the best experiences I had on Forex. Learning and also winning. The last uptrend, 11 days of buying, without any retracement or any red candle on the charts and a run of 1000 pips. Damn, how much easier can it get? Now when I look back, i see so many lost opportunities, but at least I learned something.
1. The most important thing I learned is to only trust yourself and your own feeling about the market. If I were to trust others, I would have start shorting since 244. However, hearing so many people talking about the coming fall, i believe this influenced my thinking in a bad way, and thus I didnt take my trade decision as correctly as I should have taken them (exited too early sometimes, or missed some good entry points).
2. Trust your strategy, but dont trade blindly. Look at the current situation on the chart and decide accordingly. i.e. if your strategy has a 50 pip stop loss, but the swing low on the chart is 60 pips below your entrance, better put a 70 stop loss.
3. Dont outsmart the market, but follow it. Instead of starting to short an uptrend thinking that it should fall SOMEDAY, better take a good look at the chart, see that its up, and say what the hell, am I so stupid to sell this one? Continue to buy until the market takes you out and tells you you are on the wrong side. (this is a good idea I got from mr. Jacko's thread)
Easy rules, but very important. I hope they might help somebody, or at least me. Cheers to the trend followers.
Please, let me add:
4) Diversify your positions. Don't trade just one pair and expect it to be a winner everytime. If TK dosen't work in a pair, find another system or just use fundamentals. (I currently have 11 open positions-8 winners, 3 losers so far). Also, diversify your time frame. TK is a scalping methed. Look for longer trends on h4 , D, W. If you are new to forex, you should start long term and graduate to smaller terms with experience.
5) Manage your risk. 5 losses at 10% = 50% loss. It takes 100% gain just to break even.
- #1,877
- Jun 22, 2007 9:37am Jun 22, 2007 9:37am
Amen forgot about these 2. Well now we have the 5 rules of trading you can find in any book - but from the time you read them and think - yeah, it sounds very logical - until you actually start to understand and implement them, it takes quite a long time - very painful and full of losses.
Currently, besider scalping GY with TK and Al_have's ideas, I rely mostly on Fozzy indicator for daily and 4h. I really believe that fozzy combined with simple TLs, Fibs and some MAs on the daily or 4h chart can be one of the best strategies I've seen. I recommend it to all of you here.
Another interesting thread is Jacko's house of pain and pleasure - at the Journal section. Read it to get some very interesting ideas.
What methods are you using Al?
forgot about these 2. Well now we have the 5 rules of trading you can find in any book - but from the time you read them and think - yeah, it sounds very logical - until you actually start to understand and implement them, it takes quite a long time - very painful and full of losses.Currently, besider scalping GY with TK and Al_have's ideas, I rely mostly on Fozzy indicator for daily and 4h. I really believe that fozzy combined with simple TLs, Fibs and some MAs on the daily or 4h chart can be one of the best strategies I've seen. I recommend it to all of you here.
Another interesting thread is Jacko's house of pain and pleasure - at the Journal section. Read it to get some very interesting ideas.
What methods are you using Al?
We leave no soldier behind.
- #1,878
- Jun 22, 2007 9:51am Jun 22, 2007 9:51am
Amen
Currently, besider scalping GY with TK and Al_have's ideas, I rely mostly on Fozzy indicator for daily and 4h. I really believe that fozzy combined with simple TLs, Fibs and some MAs on the daily or 4h chart can be one of the best strategies I've seen. I recommend it to all of you here.
Another interesting thread is Jacko's house of pain and pleasure - at the Journal section. Read it to get some very interesting ideas.
What methods are you using Al?
- #1,879
- Jun 22, 2007 10:09am Jun 22, 2007 10:09am
I use fozzy for a lot of my positions including bullions. I use bat for GU (currently +223). For GY, I use both TKs Open Close (currently +336) & Daily and I use basic fundamentals. I also scalp a lot on bounces on fibs and 24 LWMAs. I.E. I just took a long position on UJ on the 123.88 fib, which happens to be on the 24 LWMA. I will be out soon. GU is also setting up for a bounce around 1.9953ish.
closed my GY long at 247.70, coz I dont like to keep GY open positions over the weekend. Very good week so far. Anyway now the markets seem really crazy, I just noticed how my profits or losses change radically over a minute. The end of month is coming, we had some really strong trends so we should be careful next week.
We leave no soldier behind.