100 Trades Analysis

Kick ass hilmy, keep it up man!

andersenws

New trade, EUROAUD

http://img243.imageshack.us/img243/1415/dailybj9.jpg

Trade #57
EUROAUD
Percent risk: 2%

thanks man..me like kicking ass

hilmy,
i really admire what you are doing. You are spending the time and putting in all the effort that is needed to make your system. This way when something bad may or may not happen you know how to react. All because you formulated your system. You are the one that is making it better and learning personally from your mistakes or bad choices. there is no other better way. I'll be tuning in to watch how you do. best of luck. i hope that one day i can start something like this. i just need to having a starting point first

josh

Just wanted to add hilmy83, you're doing great - just stick with your system and don't waver - well done

Kind Regards
Steve

thank you for the kind words! It just shows that simplicity combine with consistency is really ALL that you really need.

ps. I have to confess I made a mistake on the gbpjpy! I opened the trade on Sunday which I was not supposed to because I misread some indicator readings! Otherwise, I would've opened a long on Monday, which really my profit should be about 70 pips now. But I still going to put this mistake into my record. I've made 2 mistakes during this thread..one bad..and the this one is good.

human fallacies

oh well

Updates of S/L's of open positions

http://img152.imageshack.us/img152/1526/dailyle6.jpg

Ok, first let me point something out. I noticed in my excel records that I made a mistake in the trade numbers. Basically I went from 23 to 25. So all the trades after 25 is supposed to be 1 less. That is why I was wondering why I had only 19 trades in the second 20 trades analysis. Can't believe I missed that. I knew 21-40 had to be 20 trades total


Oh well. Anyway, we have new trades open (all majors). You might say, this guy is crazy! so many freaking positions opened. But I do monitor my available margin and it's still has room to breathe. Plus this is for the purpose of analysis. Maybe after I'm done with this God forsaken thread, I will minimize my open positions to 10% total who knows..

So here they are:
http://img152.imageshack.us/img152/6413/dailyyr8.jpg

Trade #57
USDCHF
Percent risk: 2%

Trade #58
AUDUSD
Percent risk: 2%

Trade #59
EUROUSD
Percent risk: 2%

Trade #60
GBPUSD
Percent risk: 2%

ALRIGHT!. I finished my next 20 trades. Now I will wait for all of them to close before I figure out what to do next with the next 40 trades. This is a good break, I need it cause frankly, forex is becoming a pain in the ass! It's so damn time consuming!

damn you US retail sales!

Updates of S/L's of open positions

http://img155.imageshack.us/img155/3017/dailysk1.jpg

Great journal Hilmy83!

Trade #54
AUDNZD
Stopped @ 1.1414
Net pips: 9 pips
R: 0.15

Trade #56
EUROAUD
Stopped @ 1.6817
Net pips: -54 pips
R: -0.77

Trade #57
USDCHF
Stopped @ 1.2078
Net pips: -80 pips
R: -1.00

Trade #59
EUROUSD
Stopped @ 1.3229
Net pips: -46 pips
R: -1.00

Trade #60
GBPUSD
Stopped @ 1.9618
Net pips: -90 pips
R: -1.00
Talk about loooosssesssszzzz

thanks! i need a hug after my losses (why can't they have those guy hugs..this one looks too gay)

Right now, I can pretty much tell what the percent wins gonna be. If I close the AUDUSD for profit, I would get a 45% win rate. Same as the last 20 trades. If not, it would be 40%


Is this the fate of trend traders!?!? Low percentage with big ass wins!?!?! Should I continue to test until I get consistently above 50% wins, or should I just submit to this 'fact'????? Oh the dillema!

Well I knew there was this quote somewhere..this will serve as my direction in the future...

<TABLE cellSpacing=2 cellPadding=2 width="95%" align=center border=0><TBODY><TR><TD>"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong."

George Soros


</TD></TR></TBODY></TABLE>

Bingo, that's become my motto too.
andersenws

Updates of S/L's of open positions


http://img440.imageshack.us/img440/6659/dailyqm3.jpg

Trade #50
AUDJPY
Stopped @ 91.96
Net pips: 110 pips
R: 2.20

Trade #52
EUROJPY
Stopped @ 154.89
Net pips: 157 pips
R: 4.90

Trade #53
CHFJPY
Stopped @ 97.12
Net pips: 63 pips
R: 1.18

Trade #58
AUDUSD
Stopped @ 0.7838
Net pips: -32 pips
R: -0.59

I have a plan to trade my next 20 trades. It's a position trading strategy. Basically position trading is the exterme of all trend traders. When a trend starts, a position trader will stay on the trend (keep buying at specific points) until the trend is exhausted. This usually lasts 2 weeks or longer. So this would be the longest 20 trades I believe.

I believe position trading method is the mother of all trend trading methods. Since this plan will always put me in the trade, I cannot do this over 18 pairs. So I plan to use this only on GBPUSD and USDJPY. This pairs have low correlations and also will allow me to use the 20 trades to gauge the effectiveness of this suggested strategy.

I'll start once my two open trades are closed. Can't waaait!!!

ps. Be prepared to give me your money..hah..sike just kidding ..happy trading

I am reading Alexander Elder's Trading for a Living. Man this is a very good book. Almost as good as Van tharp's trade your way to financial freedom..

And it's funny, some of the things he mentions actually exist in this messageboard...

Although I did want to point something out. He compared those who consistently losing at the trading world similar to alcoholics. Basically he suggested that these trading losers go to AA meeting and follow the rehabilitation plan to basically learn to stop losing so much in trading.
However, in AA meeting, you're always introducing yourself as an alcoholic no matter how many years you are sober. The reason is that it will keep you away from going back to alcohol.
So some people should not get near alcohol. Otherwise, once an alcoholic is treated, he should be allowed to drink normally within limits. But the concept of the AA meeting is that you SHOULD NEVER get near alcohol for the rest of your life.

Now would it be possible that the forex market IS the alcohol for some people (if not most). I mean think about it, the forex market brings a lot of promises. A chance to escape your daily job routine, to live out your financial fantasies, etc. I think alcoholics drink for similar reasons. They can't stop and they won't admit they have a problem (most of them). So when Elder encourages those trading losers to go to these AA meetings, isn't he kind of saying 'Forex is not for you. just quit'???

Because, if alcoholics are not allowed to go near alcohol even after years of sobriety, then some people shouldn't trade. I think he made a contradiction by saying alcholics will never say when they introduce themselves as cured, but turn around and say that trading losers can turn around and be profitable.

Basically, my point is, some people are not meant to trade. And no matter how many years of guidance they receive, something in them does not click with this market..

just an observation