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Brainless Trading

  • #1
  • First Post: Dec 5, 2006 5:53am Dec 5, 2006 5:53am
I hope to turn $60.00 into either $60,000.00 in 60 short months or $6.00 in 6 long trading days. Since I usually get tired of writing before long I'll try to make entries for one month to start. I'll be happy to get the account up to $120.00 in 4 months. I wanted to name the thread 'How to earn Sixty Million in Sixty Years'.

I hope to start earning money with a variety of methods that take no brains on my part. A person who is the dimmest bulb in the Christmas light string should be able to make these trades. Therefore the $6.00 option is the odds on favorite to end the thread.

My trades will be made in the following ways:
EAs
Signal Services
Chat Rooms and Emails
Other People's Threads that offer suggestions
Wishful Thinking
If I get more money I'll try an occasional dart board trade.

I had to start today because my account equity is around $60.00 at the moment. I'm just planning to post copies of the account statement. I'm too lazy to post and analyze individual trades. I hope to have less than 10 trades a day at the moment because I am almost broke. If I get rolling I'll spend a day seeing how many trades I can make in a day using Goblin or D Trader or one of the EAs on my broker's unpopular list just for the fun of it. I may post some pretty charts just to add color to my thread. They probably will have nothing to do with my trades.

Well here goes. I hope it was worth taking out a second loan on the AMC Pacer, and pawning the babie's stroller to raise $57.12 to fund this account.

I took so long to write this my equity fell almost two dollars. It's a good thing I printed out the account statement when I did.
Attached File(s)
File Type: pdf 1205 Brainless.pdf   26 KB | 647 downloads
  • #2
  • Dec 5, 2006 6:04am Dec 5, 2006 6:04am
Good luck,
Its better to carefully choose each trade, its better to have 1 trade of 60 pips vs 5 trade of 10 pips! overall you reduce risk at the same time.
Buts that the way i see it... :-)
Sorry for my bad english translation
  • #3
  • Dec 5, 2006 6:36am Dec 5, 2006 6:36am
Stick with the darts.

At least that way you will not be getting conflicting advice. If you try to follow all of the other sources of potential trades your problem will be that they will be conflicting most of the time. So then how do you decide what to do when one signal service recommends going long while another recommends going short, at just the same time? This problem will only be compounded by all of the other sources you are considering using.
  • #4
  • Dec 5, 2006 7:06am Dec 5, 2006 7:06am


You cracked me up with that post dude. Nicely written and the very best of luck.
  • #5
  • Dec 5, 2006 2:58pm Dec 5, 2006 2:58pm
Quoting Zeuzere
Good luck,
Its better to carefully choose each trade, its better to have 1 trade of 60 pips vs 5 trade of 10 pips! overall you reduce risk at the same time.
Buts that the way i see it... :-)
Thanks for the good advise.
  • #6
  • Dec 5, 2006 2:59pm Dec 5, 2006 2:59pm
Quoting moonchild
Stick with the darts.

At least that way you will not be getting conflicting advice. If you try to follow all of the other sources of potential trades your problem will be that they will be conflicting most of the time. So then how do you decide what to do when one signal service recommends going long while another recommends going short, at just the same time? This problem will only be compounded by all of the other sources you are considering using.
Very true. I'll stick mostly with EAs.
  • #7
  • Dec 5, 2006 3:09pm Dec 5, 2006 3:09pm
Quoting Money Talks


You cracked me up with that post dude. Nicely written and the very best of luck.
Thanks for the comment. I am having a little fun with the last $60.00 in this account. I view it as half the amount I spent watching Russell Baze trying to break a record riding horses last week at Bay Meadows race track in the San Francisco bay area.

I'm down to $54.00 at the moment.
  • #8
  • Dec 5, 2006 11:17pm Dec 5, 2006 11:17pm
I can't believe it, I wished I had 60 bucks - I am trying to make a million on a demo account, wished that demo money was real LOL

Monarch
  • #9
  • Dec 6, 2006 12:00am Dec 6, 2006 12:00am
Quoting monarch
I can't believe it, I wished I had 60 bucks - I am trying to make a million on a demo account, wished that demo money was real LOL

Monarch
Right now I wish I had 60 bucks too. I suffered a bit of a setback. Now I only have 53 bucks equity. It will be a while before I'm up to a million.
  • #10
  • Dec 7, 2006 4:07am Dec 7, 2006 4:07am
I've been busy playing with a little Firebird and almost forgot to post my update. I'm still not back up to $60.00 equity but I am getting close again. At this rate I'm not going to reach either of my goals within my time frames. Trading through the NFP at the end of the week should move me one way or the other with a little more speed. I took my first dart board trade on the CHFJPY pair and made 2 pips. I'd post the chart but I don't have a chart for that pair loaded up with all kinds and types of pretty lines.

I'm going to try to print out results at the end of the day GMT time. All the times on the statement are GMT.

It was a nice day because my holiday card arrived from my broker today. They wished me all the best in my future trading. It has to be a positive sign. I hope they send my debit card for this account soon. I'll need it so I can start spending all the profits I'll soon earn.
Attached File(s)
File Type: pdf 1206 Brainless.pdf   35 KB | 539 downloads
  • #11
  • Dec 7, 2006 4:42am Dec 7, 2006 4:42am
if you plan to enter a trade before nfp than darts will probably give you the most reliable signal
  • #12
  • Dec 7, 2006 4:48am Dec 7, 2006 4:48am
Quoting nvwine
I've been busy playing with a little Firebird and almost forgot to post my update. I'm still not back up to $60.00 equity but I am getting close again. At this rate I'm not going to reach either of my goals within my time frames. Trading through the NFP at the end of the week should move me one way or the other with a little more speed. I took my first dart board trade on the CHFJPY pair and made 2 pips. I'd post the chart but I don't have a chart for that pair loaded up with all kinds and types of pretty lines.

I'm going to try to print out results at the end of the day GMT time. All the times on the statement are GMT.

It was a nice day because my holiday card arrived from my broker today. They wished me all the best in my future trading. It has to be a positive sign. I hope they send my debit card for this account soon. I'll need it so I can start spending all the profits I'll soon earn.
I see you took my suggestion to stick to the darts and worked out well for you. I am glad.

The only thing which puzzles me is the choice of pairs. I have traded that pair, but becaue of the fairly large spread (7 pips) only when I could see the possibility of a large pip gain. To trade that pair and only get 2 pips out of a trade is dangerous. Have you considered trying pairs with spreads of less than 5 pips? It might be easier making pips. As a matter of fact, with cable, and to some extent fiber and USD/JPY, all pairs with small pip spreads, as long as they are not trending strongly, it is actually possible to randomly take a long and/or a short position and by carefully monitoring and skillfully exiting, make 5 to 10 pips almost any time although you might have a problem with the drawdown given the small size of your account. Another benefit is that the pips of fiber and cable are worth more than CHF/JPY's pips.
  • #13
  • Dec 10, 2006 6:02pm Dec 10, 2006 6:02pm
Thanks for the comments guys. Running way behind today. Woke up late today.

Nothing happened last week so I threw a few more EAs at the account. I'm already in trouble after one hour. One of my Phoenix EAs bought 3 micro lots of EURJPY at my broker's open today. Already down $5.00. At this rate I'll be done in about 600 more minutes. It's shut down until I discover my code error. I switched versions of Firebird this week. Also turned up the risk on a few other EAs. I'm trying to figure out how Brainwashing 1C works at the moment. Since this thread's name and the EA's name both have the word brain in it - A sign of luck? Any way the report below is where I am starting week 2.
Attached File(s)
File Type: pdf Brainless Week1.pdf   46 KB | 400 downloads
  • #14
  • Dec 10, 2006 6:17pm Dec 10, 2006 6:17pm
Is this thread a joke? To think you can be consistantly profitable in forex without investing any of your own energy or thought is completely ludacris. I never liked these kind of threads, there's always the chance some poor newbie will stumble upon it and believe forex is a piece of cake.
  • #15
  • Dec 10, 2006 7:21pm Dec 10, 2006 7:21pm
Quoting aicccia
Is this thread a joke? To think you can be consistantly profitable in forex without investing any of your own energy or thought is completely ludacris. I never liked these kind of threads, there's always the chance some poor newbie will stumble upon it and believe forex is a piece of cake.
I'm trading a live account. I'm not really trying to lose. The trades I'm posting are real. So I don't feel it is a complete joke. I am trading this account with a sense of humor. You would probably wreck your whole afternoon if you were too serious when you trade an account with $60.00 in it. I do realize that trying to see how many trades my EAs can place in an hour might qualify my trading approach here as stupid.

Almost everyone thinks that you can not make money following signals, using bots, or just placing a trade at random with a unique SL and TP. I probably can't either but I am going to try. Can you think of a better use of $60.00? Well you probably can. But this is what I'm going to do with the cost of a dinner or a bottle of wine. I've seen a few other posts on the forum about trading that do not show an excess of brains either. At least I labeled this thread appropriately. Would I trade one of my other accounts this same way? No. I do actually use one of the EAs from this account on a couple of my other accounts.

As for someone thinking forex is a piece of cake - My balance in the coming days or hours may very well prove that wrong. My balance is down 10% and falling on my poor EURJPY purchase today.
  • #16
  • Dec 10, 2006 8:43pm Dec 10, 2006 8:43pm
I'm sorry I didnt read every post here, but if you are trading at as high as one dollar a pip with a 60 dollar account, then just plain randomness is going to knock you out. The other scenario is death by many hit small stoplosses.

I suggest you open an account where you can trade as low as 10 cents a pip. (That is if they accept your 60 to start up an account.)

The reason I say this, is it would be a great challenge to build up your account and you could place a decent stoploss.. of 100 or 200 points at 10 cents. Now of course if you were completely wrong about direction there would be a problem, but not an account closing problem. So in order to avoid that, look carefully at the fundamental strength and price history of the pair you choose.

If the fundamentals are strong and you trade in their favor with a wide stop loss to take care of random noise, then the fundamental strength can pull your trade in the direction you want to go.

Just my ten cents a pip worth.

Lou
  • #17
  • Dec 10, 2006 8:58pm Dec 10, 2006 8:58pm
Quoting Lou
I'm sorry I didnt read every post here, but if you are trading at as high as one dollar a pip with a 60 dollar account, then just plain randomness is going to knock you out. The other scenario is death by many hit small stoplosses.

I suggest you open an account where you can trade as low as 10 cents a pip. (That is if they accept your 60 to start up an account.)

The reason I say this, is it would be a great challenge to build up your account and you could place a decent stoploss.. of 100 or 200 points at 10 cents. Now of course if you were completely wrong about direction there would be a problem, but not an account closing problem. So in order to avoid that, look carefully at the fundamental strength and price history of the pair you choose.

If the fundamentals are strong and you trade in their favor with a wide stop loss to take care of random noise, then the fundamental strength can pull your trade in the direction you want to go.

Just my ten cents a pip worth.

Lou
Thanks, you are correct. If I was entering manual trades with a proper stoploss and money management micro lots would barely be small enough. Actually I'm trading multiple mini-micro lots at 1 cent per pip. My main concerns are when my EAs place all the trades in one direction or like today when an EA places a trade 10 times greater than I expected.
  • #18
  • Dec 11, 2006 7:59pm Dec 11, 2006 7:59pm
One day down four to go this week. I'll confess I cheated on two trades. I took a couple of trades that required watching the charts. It was just too tempting to pick up an easy 80 pips playing the Sunday candles. The force was with me. Thanks to Jedi Orange!

I'm still working on getting the EAs tuned up. I only ended up with one PipBoxer and one Flyer trade not opening as expected. I canceled one of the Phoenix EAs for now. Hard to tell on the Fozzy. I'm might also be fighting the chart and EA limit on this platform. I'm not sure what it is but I can see the platform is becoming sluggish as the load increases. It's not a memory issue I still have 30% of my 1.5 gig free. One of these days I'll get the right combination and get them to all play in the sandbox together. I hope the USDJPY goes down since I have three sell trades open and am expecting 1 or 2 more. Phoenix loves that pair. Also while I'm hoping and wishing it would be nice if the EURUSD fell 125 pips and than rose 160 pips. This would clear 4 more trades.

Total for the first day of the week:
15 Trades closed
11 Trades open
144 Pips from closed trades - includes the 80 pips that I had to think to get.
$59.50 Equity
Attached File(s)
File Type: pdf 1211 Brainless.pdf   11 KB | 345 downloads
  • #19
  • Dec 14, 2006 6:37am Dec 14, 2006 6:37am
Happy Holidays! It's the time of the year to attend Christmas parties every night. I should have time this weekend to update and adjust my little project. My EAs seem to be on a run of bad luck and insist on placing many of their orders in a correlated fashion. This is not promising. Equity is down to $47.00. On a properly traded account I should stop and re-access things. This is not such an account. This account will live or die with it's EAs running. So full speed ahead. When I reach $25.00 I'll change my goal to $25.00 to $2500.00 in 25 short months.

A picture should illustrate the current situation. As Fats Domino and later Sir Paul said "Ain't that a shame".
Attached Image
  • #20
  • Feb 10, 2008 12:31pm Feb 10, 2008 12:31pm
Great thread. I think you're going to get a lot more entertainment out of that $60 than you ever would have if you had simply blown it on a night out. Can't wait to see how it ends up.
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