Hey mate what was your largest loosing month in your back testing?
- #841
- Feb 9, 2007 9:14am Feb 9, 2007 9:14am
- | Joined Jul 2006 | Status: Will take it all off for Pips! | 1,105 Posts
- #845
- Feb 9, 2007 11:24am Feb 9, 2007 11:24am
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hey mate what was your largest loosing month in your back testing?
Anyhow, I'm 687 pips down so far in Feb and that's only just over 10.5%. I'm now using a smaller pip size as the balance has decreased as per plan.
Kind Regards
Steve
- #846
- Feb 9, 2007 11:26am Feb 9, 2007 11:26am
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hi Steve!
I have been following your thread a while, and I'm amazed by your trades! It looks that you have a great strategy!
About your latest losses, hang in there! There are plenty of people including me that have been losing their trades in february!
I will continue to read your thread every day.
Wish you all the luck!
Dennis
It's been a case of 3 steps forward (Nov,Dec,Jan) & 1 step back (Feb) so I shouldn't be too dispondent. I made an error of judgement last night on GU which I will learn from but apart from that I feel I have stuck religiously to the system.
We'll get there....
Kind Regards
Steve
- #847
- Feb 9, 2007 11:29am Feb 9, 2007 11:29am
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hi Steve,
I am with you in your annoyance. This February has not been good to this system. I still have big hopes for it because I see it as a reasonable way to make some money and build your capital while you continue to hold to your "real" job for a while. Lets hope this ranging $%^$#@!!! ends soon and the trend starts to give some nice pips.
I can hardly wait to write my resignation letter and spend my time at home, playing some golf, spending lazy hours at a bookstore, checking the internet for hours looking for the best deal for my next 2-week trip to the Bahamas, and...trading to pay for all that.
So c'mon!!! let the trend begin!!!!
It sounds like you have it all planned out - it will come with perseverance but like anything worthwhile it's never a straight road - just been through a couple of chicanes these last weeks but hang in there.
Kind Regards
Steve
- #848
- Feb 9, 2007 11:31am Feb 9, 2007 11:31am
- Joined Jun 2006 | Status: Trader | 2,512 Posts
I hear you Al... Because of February I had to postpone my plans to actually buy the Bahamas. Not to mention the fact that the repo man got possesion of my Ferrari and my lovely wife. Oh well... I will miss them both.
- #849
- Feb 9, 2007 12:54pm Feb 9, 2007 12:54pm
It's been a case of 3 steps forward (Nov,Dec,Jan) & 1 step back (Feb) so I shouldn't be too dispondent. I made an error of judgement last night on GU which I will learn from but apart from that I feel I have stuck religiously to the system.
We'll get there....
Kind Regards
Steve
Steve,
First off, this has been a rough road in Feb. for you, sorry to hear that. Secondly and most importantly, CONGRATS! for sticking to your plan and most importantly your Money Management, this is the "Holy Grail" to trading and you are proving it. 20 out of 21 losses I think I read somewhere in the last few days, survivability in such times is paramount and only disciplined money management can get one through such times, whether it was due to bad calls are a minor weakness in ones system is irrellivent, such times do and will occurr, a trader just has to be prepared for it and you are doing just that. Once this storm is over for you and your dedicated followers, you will walk back into the sunshine with a new found sense of security, knowing that your system and money management (which is all one) can survive, that psychological boost is worth losing 600 or so pips, because it will happen again, and next time it will be easier on the psyche as you have already ventured down this path. Like you said 3 steps forward, 1 step back. Keep up the positive outlook and the great work my friend.
Cheers,
Northpro
- #850
- Feb 9, 2007 1:10pm Feb 9, 2007 1:10pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
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Steve,
First off, this has been a rough road in Feb. for you, sorry to hear that. Secondly and most importantly, CONGRATS! for sticking to your plan and most importantly your Money Management, this is the "Holy Grail" to trading and you are proving it. 20 out of 21 losses I think I read somewhere in the last few days, survivability in such times is paramount and only disciplined money management can get one through such times, whether it was due to bad calls are a minor weakness in ones system is irrellivent, such times do and will occurr, a trader just has to be prepared for it and you are doing just that. Once this storm is over for you and your dedicated followers, you will walk back into the sunshine with a new found sense of security, knowing that your system and money management (which is all one) can survive, that psychological boost is worth losing 600 or so pips, because it will happen again, and next time it will be easier on the psyche as you have already ventured down this path. Like you said 3 steps forward, 1 step back. Keep up the positive outlook and the great work my friend.
Cheers,
Northpro
It's actually 21 straight but I'll be able to lock in 20 pips on USDJPY tonight - currently up 90 pips
. I may even have a party to celebrate 
You are right of course that events like these can only make me tougher in the knowledge that they can, do & will happen. The important thing is to come out smiling the other end ready to bag those profits as they come our way.
At first this journal was just that, to record trades to ensure I didn't ever cheat the system and so far that has worked out well. What I didn't envisage was the support, encouragement & experience of traders too many to mention here but you know who you are
Later on I'll post my thoughts for the week.
Kind Regards
Steve
dude! don't be so hasty ditching those lines! thats how i trade! 
seriously, if your back-testing didn't make use of them then you could dump them yes, but if you did then i would reconsider!
most trendlines end in failure, unless you take weekly or monthly views on them. it looks like there is a pending sell on GU now that it's looking like it will close below it.
seriously, if your back-testing didn't make use of them then you could dump them yes, but if you did then i would reconsider!
most trendlines end in failure, unless you take weekly or monthly views on them. it looks like there is a pending sell on GU now that it's looking like it will close below it.
Make that 20 & 21 straight losses - USD CHF stopped out for minus 65 - hit my s/l & reversed back - no surprises there
USDCAD stopped out for minus 36 pips.
Will post the numbers later if I can bear it lol.
Two current trades are up 97 pips as I speak & unless UJ reverses on me will be able to lock in a small amount of profit tonight - get the flags out
I'm so annoyed I didn't just trade the candlesticks on GU & UCHF - stupid mistake. From now on I vow never to bother with trend lines etc. Yes, they do bounce of them but they have to be breached sometime and that sometime was today. Instead of bemoaning losses on GU & UCHF if I kept to my plan I would be plus 120 on GU now & plus 40 on UCHF.
Steve you stupid boy lol. OK, I'll be back later with an update.
Kind Regards
Steve
i think sir alex ferguson would refer to this situation as "squeaky bum time", so get clenching steve...
stevie,
stay positive my man, things will turn around, we both know that
congrats for sticking to the plan brother, thats hard to do especially when the plan is giving you a red buttocks
you'll recover no problem, keep a level head, which you seen to do without fail
have a good weekend brother
pipple
the market will test everybody sooner or later to see if you've got what it takes - it will ask all: "have you the right mindset, a winning plan, enough discipline and patience to follow it through?" nobody can avoid it if they're gonna succeed long term.
in situations like these this is where those 95% of wannabes disappear (down the plug-hole).
stick to your guns, weather the storm you're in and you'll be a much better trader once it all blows over. it will help put the good times in perspective and i find it helps me not to get carried away when you rake in the pips. after a series of good harvests, you have to keep some pips instore for the next bad season.
your chickens will come home to roost soon enough (that is if they don't catch bird flu first!!).
have a chilled out weekend steve! (and all his fellow readers)!
in situations like these this is where those 95% of wannabes disappear (down the plug-hole).
stick to your guns, weather the storm you're in and you'll be a much better trader once it all blows over. it will help put the good times in perspective and i find it helps me not to get carried away when you rake in the pips. after a series of good harvests, you have to keep some pips instore for the next bad season.
your chickens will come home to roost soon enough (that is if they don't catch bird flu first!!).
have a chilled out weekend steve! (and all his fellow readers)!
Hi Dennis,
It's been a case of 3 steps forward (Nov,Dec,Jan) & 1 step back (Feb) so I shouldn't be too dispondent. I made an error of judgement last night on GU which I will learn from but apart from that I feel I have stuck religiously to the system.
We'll get there....
Kind Regards
Steve
- #856
- Feb 9, 2007 3:50pm Feb 9, 2007 3:50pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
stevie,
stay positive my man, things will turn around, we both know that
congrats for sticking to the plan brother, thats hard to do especially when the plan is giving you a red buttocks
you'll recover no problem, keep a level head, which you seen to do without fail
have a good weekend brother
pipple
Have a great weekend yourself pipple - watching your journal too
Kind Regards
Steve
- #857
- Feb 9, 2007 3:55pm Feb 9, 2007 3:55pm
Hi Steve,
Just wanted to put my own .02pips in here..
You have shown you have what it takes to do it! You are planning your trades, and then trading your plan!! Keep it up!! I stand by one of my last posts.. you will survive!
Take care,
D.
Just wanted to put my own .02pips in here..
You have shown you have what it takes to do it! You are planning your trades, and then trading your plan!! Keep it up!! I stand by one of my last posts.. you will survive!
Inserted Video
Take care,
D.
Red Buttocks
Have a great weekend yourself pipple - watching your journal too
Kind Regards
Steve
- #858
- Feb 9, 2007 3:57pm Feb 9, 2007 3:57pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
i think sir alex ferguson would refer to this situation as "squeaky bum time", so get clenching steve...
Yup, I was counting on that trendline - typical that the first time I trade off it, it decides not to bounce
. I had in mind the last time it headed towards this line that it bounced & I'd gone short.Actually I didn't use trendlines at all in backtesting which is why I was a little annoyed at myself for trying to be too clever. I know they form a basis for many people's trading & trendlines do have merit - it's just they shouldn't form part of my system in live testing.
Have a great weekend too my friend & keep those comments coming.
Kind Regards
Steve
- #859
- Feb 9, 2007 4:03pm Feb 9, 2007 4:03pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hey steve,
Just thought I'd say hey, and compliment you on the success you've had! I wouldn't worry too much about this month, as the preceding months show, you will get your money back. The fact that you stay positive during losses is very admirable! Anyway, wish you the best of luck, and keep up the good work!
Regards,
Kevin
Thanks bro - that BB method you have there is very interesting - I've been taking a peek at what you're doing
I'm sure this is just one of those times that sorts the men out from the boys and I intend to keep going come what may. Having to tell all you wonderful folks each trade I make keeps me honest and I can't wait to be posting some more positive news in the months to come
Thanks for dropping by.
Kind Regards
Steve
- #860
- Feb 9, 2007 4:05pm Feb 9, 2007 4:05pm
- Joined Jun 2006 | Status: Trader | 5,709 Posts
We seem to have a backside theme going tonight don't we
Yup, I was counting on that trendline - typical that the first time I trade off it, it decides not to bounce
Actually I didn't use trendlines at all in backtesting which is why I was a little annoyed at myself for trying to be too clever. I know they form a basis for many people's trading & trendlines do have merit - it's just they shouldn't form part of my system in live testing.
Have a great weekend too my friend & keep those comments coming.
Kind Regards
Steve
. But i found that it's better to let price confirm my assumption with a bullish candle off a given trendline before I decide to enter.