Lepiricus' Journal

I am starting this journal to help me document a new system I am still tweaking. So, I ask that nobody trade these as signals. This experiment may be a magnificent disaster.

Trades will be on a 10k mini IBFX demo account.
I am trading these on my live account simultaneously, but at a reduced risk until proven profitable.

Edit:

I was originally going to have 2 types of trades journaled here, but decided on doing just one type. The trades I will be making are price action type trades, but I haven't ironed out the exact entry an exit procedures, so this is a work in progress

Some trades may be open for days and there will be some averaging, especially if they start tanking. I will bail out on a trade at a loss when my system tells me, but usually its for a nominal loss.

Floating drawdowns can get pretty high, especially on gbp/jpy trades, but the averaging helps mitigate that.

I will try to update this first post with a weekly statement to help keep me honest. My goal is to try this out for a few weeks until I am comfortable enough to fully transition it to my real account.

Feb 29th update:
Account Balance: $21,642, up 116% in 17 trading days.
Total Gross Pips: +4012

PA trade

Long gbp/jpy at 209.12 w/ 3 mini lots
TP at 210.50
no stop

Added a buy limit order at 208.00 for gbp/jpy for 3 minis

New PA trade:

long on Eur/usd at 1.4624 with 3 mini lots
target 1.4750
no stop

Added 3 more minis gbp/jpy long at 206.32

Added 3 eurusd long at 1.4562

Added long on eurusd at 1.4488 with 3 minis

Avg buy at 1.4558 over the 3 positions for eurusd
Avg buy at 207.81 over 3 positions for gbp/jpy

Waiting for an exit point for both... set my gbp/jpy TP at 209, expecting chop for a while

Took Profit at 208.91 on the 3 gbp/jpy positions

Total pips are: -31 + 91 + 253 = 313
net pips after spread: +286

Account balance: $10,898

The 3 eur/usd longs are still open. I have a pending eur/usd buy at 1.4400 should it continue to slide.

Set the eurusd TP to 1.4600 tentatively.

New PA trade:

Long aud/usd at 0.8942 w/ 3 minis
TP at 0.8970
no stop

The 3 euro long positions are still in play.

Open trades:
3 long eurusd positions with avg buy at 1.4558
1 long audusd @ 0.8942

Placed pending buy limits for:
eurusd @ 1.4440, (3rd addon)
audusd @ 0.8915 (1st addon)
gbp/jpy @ 208.55 tentitive TP at 209.70(new PA trade)

System says longs are still good for these pairs.

Audusd position closed at 0.8970
canceled the pending buy

buy at 0.8942, close at 0.8970, +28 pips (23 after ibfx rape spread)

Account balance: $10,966
Total gross pips: +341

16 hours is a quite a long wait for 28 pips, but I stay true to the system.

I actually should have held this for longer, as I see price still has more upward potential, but pips are pips.

Cancelled pending buy on gbp/jpy.

NEW TRADE:
gbp/jpy long at market 208.97 with 3 minis
Target: Open
Stop: Open

existing trades:

3 longs on eur/usd with avg buy at 1.4558

I will be buying into dips on this geppy trade, didn't want to miss the bus waiting for a discount to buy at 208.55. This should be a significant uptown bus

Closed gbpjpy long at 209.24 for 27 pips.

Still have the 3 eurusd longs open

+368 pips gross total

gbp/jpy long again at 208.90
TP at 209.50
no stop

I closed that one on market open to take advantage of the gap up.

still have 3 euro long positions open

New Trade:

short aud/usd at 0.8992
TP at 0.8975
no stop

1st add-on, short again at 0.9019
TP at 0.8975
no stop

I'm late on updating this, but I have added 2 more longs to this gbpjpy position

1st addon at 208.00
2nd addon at 207.14
pending 3rd addon at 206.00
avg is at buy is at 208.01
Set TP for all 3 positions at 209.00

existing positions
2 short audusd from 0.8991 and 0.9019, pending short at 0.9080, TP is at 0.8975

3 euro longs with avg buy at 1.4558
pending 4th long at 1.4442
TP for the euro is at 1.4700

Closed the gbp/jpy long trades at 208.50 for -40, +50, +136 (+146 total pips)

gross pips to date: +514

I am expecting the resistance to stall the upward movement for a while, but system is biased for more upward movement so I go in again after swiping some pips off the table.

New Trade:

Long gbp/jpy at 208.50
TP at 209.50
no stop

I will be buying dips on this starting with a pending buy limit at 207.60


The audusd short and euro longs are still hot also.

You're an inspiration!
Great start. I think I need to quit following other threads full of opinions and get more into my own opinions more like you.

Thanks Poocher, its good to see ya!

New Trade:

Long nzd/jpy @ 84.22
TP 85.00
no stop

This one might be weak, went in with small lots

Closed trade at 84.40, signal was getting weak
+18 pips
gross pips to date +532

Current trades are

3 long euro positions
2 short aussie positions
1 long gbpjpy position

Hi Lepiricus,

Thanks for the journal. A question about when you average out your positions. If a trade is going against you so much, when do you finally decide to close it. At some point the price will not seem that it will turn around in your favor, so Id like to know how you decide when that point is.

Thank you