Smoky's Live Trades

Hi all,
I will begin posting up trades this coming Monday, assuming I get a signal. I'm doing this for my own motivation purposes. I am trading from a proprietary black box system that is under development, so I will not go into many details about why I'm taking the trades I am but may outline some of my general strategies.

I also do not gaurantee or make any accuracy claims, although so far I'm getting above average results. I am currently trading in demo but will be moving over to live real money trades as soon as I get some of the system bugs worked out. In my opinion, when trading a mechanical system like this the whole demo vs. live transition does not amount to anything because all emotions are taken out of the equation.

I only trade EURUSD. The daily goal will be anywhere from 15 to 60 pips. Stops will be set usually at -60 pips. I may, from time to time use a hedging strategy that takes the place of using a stop. I will provide more detail on this later if I use it.

A lot of these journals are met with accusations of having an alterior motive, but I assure you that I am not selling anything. I want to make my money trading. Talk to you on Monday.

Smoke

Check that, I'm going to go ahead with the first trade.

EURUSD
Short 1.4827

This should be good for 30 pips.

Most of my entries occur before I go to bed at night which is usually around between 5 - 7 GMT. I was busy last night and didn't check for signals. I just opened up the system this morning to find a nice trade waiting for me.

Looks like that one was good for 32 pips!

KissFan

Actually Kiss, I entered after the spike down to 4797, so as it stands right now, I am only a few pips ahead, but I do expect some more downward movement before the session ends. I will either close the trade and try to pull out a few pips, or I may decide to hold over the weekend.

Smoke

Smoke,

Just wanted to 'drop in' to wish you every success with your journal

Kind Regards
Steve

Thanks StevieT, drop in any time you like.

I decided to hold the first trade over the weekend. When the 'Monday' session opens I will either hold the trade, close it at a small loss, or utilize a hedge to 'lock in' the loss, depending on how things look at that point. I will be back on 'Monday'

Smoke

Closed for a small (-3) loss. I got no signal for this session so the outlook is cloudy. Best to close it up and wait for the next signal.

Smoke

Hey there Smoky,

Good choice in starting a journal, it does provide motivation in your trading.

Wishing you the best of luck with your trading and journal. Remember....focus on your trades, and the money will follow.---->

Have a good day, and week!

Zack

I haven't posted in a little while because I haven't had a trade signal. I did have a trade that I did not post that ended up stopped out going into the hard Euro bullrun. My current system is not designed (yet) for these hard upward movements and is designed more around finding 'pivots' (but not in the traditional sense). The good news is that my system doesn't make bad calls during these times, it just doesn't throw a signal.

I can say that I believe we have most likely reached the monthly high and it should be downhill or at least range bound from here.

Smoky

Time to start posting trades again- I've mostly been doing a lot of development and not much trading, but it's time to start back again.

This should be an easy one-

EURUSD
Long @1.3000
Should be good for up to 100 pips, as of now my take profit is open with an 80 pip stop.

I closed out the trade with an 18 pip gain before the start of the current session. I did eventually get the 100 pip pop-up but I had already exited the trade. I did not enter a trade in the current session.

I like to exit in the same session as the entry and then take a look at what the system is telling me for the current session, so that is why the trade was exited.

Good trading all.

Smoke