100 Trades Analysis

wow, looking back, my losses have hit 9 straight in a row...

just gotta keep on goin! so to all the losers out there..i'm with you hehe

And another thing, I don't record any position added to existing trades as separate trade. It's just additional positon that I'm adding so we're still at trade #91.

Don't worry about the straight losers - you are doing fantastic so just keep looking at the big picture. Overall you are winning and that's what ultimately counts. It's so easy to panic after a few losers in a row and start doubting yourself & your system but if it's a long term winner just stick to it

Kind Regards
Steve

thanks man. You gotta lose some battles (or 9 ) in order to win the war right??

hey hilmy

read through your journal and it's really good. it looks like you had somethingn nice going back near 20-40 trades area (i think).

I'm just wondering what are you going to do when you get to 100 trades ? are you going to keep trading ?

Wow, you read through all that?thanx!. The purpose of this journal is to test out different systems. I would pick a system both from FF and ones that I think of and test it for 20 trades over 18 currency pairs.The reason I do this is because I would get a sense of how a system performs in ranging and trending markets very quickly. Then I look at some statistics and add or take out somethign and see what happens in the next 20 trades and so on...

I have used various methods/indicators from moving averages, rsi, cci, heiken ashi to just price action and support and resistance (which is what I am doing now..though not quite successful ). I am trying to implement position adding and understand the concept of price acceptance and rejection. And since I am trying out position adding, I can only trade 2 pairs without risking my margin running out too fast

I would definitely keep on trading after 100 trades but probably without online journals anymore. I feel that I have developed a strong discipline and able to keep my own records without going public.

oh SOB, my USDJPY is stopped out...

I have resistance/support between 121.90 and 121.35. Price has to close away from this area before I initiate a trade.

ps. i have to say this month should be called rangy january

hi hilmy..

yup took a while to read and i did skim through some, but it was good

well i hope that you do find a system that works for you, there seem to be many on FF that do work, with good MM and discipline. I went through a stage where I would try out everything and anything, and as always still looking for improvements

all the best !
anthony

Trade #91
USDJPY
Stopped @ 121.90
Net pips: -42 pips
R: -1.00

And updates with the S/L

http://img440.imageshack.us/img440/5875/dailyjn8.jpg

Ha! my GBPUSD trades still hold. Price was really close to my S/L by few pips. So as of now, I am not updating anything including the S/L....

still trying to find new ways to add positions though

not liking how GBPUSD is looking right now. The potential bullish hammer today is reaaally testing my fear of strong reversal

discretionary is very hard..i'm kind of wish I had a mechanical system to trade with

New trade

http://img372.imageshack.us/img372/9664/dailyad8.jpg

Trade #92
USDJPY
Initial risk: 2% @ 121.56

I am actually implementing a new s/l method. The idea comes from reading steviet's journal. Basically I have predetermined s/l with 2% risk. However, my actual s/l is determined from using pivots and looking at how hourly behave around these levels. For example, today's USDJPY is below the daily pivot and weekly pivot. So it's safe to say that the price has a strong resistance before it hits 121.56.

GBPUSD is still on. I'm leaving the s/l where they are. Can't rely on my gut feelings right now since i'm still new at this. I'm gonna keep variables to a minimum and try to leave out as many discretionary decisions as possible.

Well, January has passeda and so has 6 months of live trade.

My performance has been 'ok'. When I started, I thought I could double my account every 6 months, now..well, reality has struck. hehe

http://img291.imageshack.us/img291/7636/graphgr7.jpg


Well january has been the worst since I started. I guess it's just the transition from mechanical to price action and s/r. And January has been pretty ranging as well..we'll see how the next 8 trades will go..

Trade #89
GBPUSD
Stopped @ 1.9700
Net pips: -78 pips
R: -0.21, -0.47

I would enter long GBPUSD, but if I follow my new pain analysis, I should've entered it yesterday not today..so i'll stay out

as far as USDJPY go, I'm waiting out how price will behave. Shouldn't have entered based on pain..but oh well

GO BEARS!!!

I have spent a couple of days devising my strategy to incorporate my newfound price indicator. When I look back couple of months, it definitely would have helped me decide a trade much quicker without too much thinking and hesitation.

Will leave copies of these indicators here

BEARS SUCK!..damn you grossman!

Something Bulls always SUCK Bears...

New trades:

http://img183.imageshack.us/img183/9573/dailyju1.jpg

Trade #93
GBPUSD
risk: 1%

I will explain my new set of rules in a while

ps. I have started trading my wife's account...haha..hopefully she can withstand the drawdown..