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Ziva's Journal

  • #41
  • Dec 16, 2008 3:11pm Dec 16, 2008 3:11pm
I look at the way the daily candle closes on ODL metatrader, which happens at 12:00am GMT (i guess this is now at 7pm EST due to daylight savings time). If I can ever figure out how to post a screen shot of my metatrader chart I'll show what my setup looks like. Hope this is helpful!

thanks.
  • #42
  • Edited 3:56pm Dec 16, 2008 3:22pm | Edited 3:56pm
Quoting Ziva
I look at the way the daily candle closes on ODL metatrader, which happens at 12:00am GMT (i guess this is now at 7pm EST due to daylight savings time). If I can ever figure out how to post a screen shot of my metatrader chart I'll show what my setup looks like. Hope this is helpful!

thanks.
A screen shot would be helpful...You can do CTRL+ALT+PRINT SCREEN on your keyboard to take a screen shot of your MT chart and then paste it in Paint. Save it, then upload it here. HTH!
  • #43
  • Dec 17, 2008 10:23am Dec 17, 2008 10:23am
SHORT USDCHF closed out at around 1.1240 on a retrace and it continued to head way further south. I profited +800 pips.

Here is my update. Since this trade was lot #2, and the first trade closed out with +100 pips, I'll add on pips to my total, but total # trades won't change


# trades taken: 18
# wins: 10
# losses: 6
# break even: 2
total # pips: +3707

I risk 10% of my account for each trade I do. I've decided to keep track of my monthly profit percentage. I will update this with each closed trade.

DECEMBER: +75%

I realize this was an exceptional month, and that these kinds of monthly gains are not to be expected on a regular basis. I'm hoping to gain around 15% per month. With risking 10% of my account on every trade, I think this monthly goal is reasonable as it equates to 150 pips. I also decided anytime I gain 20% or more in a month I would withdraw 5% and never anymore than that so that my account will continue to grow.

I think this marks the end of trading for this year! From April of this year to now I have increased my account by nearly 650%. This was accomplished by trading with extremely risky money management a few months back. Luck was on my side and I'm thankful it worked out as it did, but in the past couple of months I've adjusted my money management so that my trading is safer and I'm risking way less on each trade. I want to be in this business for a long time!

Looking forward to what next year brings!!!
  • #44
  • Dec 17, 2008 11:26am Dec 17, 2008 11:26am
Quoting Ziva
SHORT USDCHF closed out at around 1.1240 on a retrace and it continued to head way further south. I profited +800 pips.

Here is my update. Since this trade was lot #2, and the first trade closed out with +100 pips, I'll add on pips to my total, but total # trades won't change


# trades taken: 18
# wins: 10
# losses: 6
# break even: 2
total # pips: +3707

I risk 10% of my account for each trade I do. I've decided to keep track of my monthly profit percentage. I will update this with each closed trade.

DECEMBER:...
Those are really great results Ziva!!!

One question though, if you do happen to look at the charts anymore, could you please post a screenshot? As that would be very helpful to those that are still trying to get a better idea of this strategy and what a decent setup would look like.

If not, thanks for sharing and happy holidays!!
  • #45
  • Dec 22, 2008 11:06pm Dec 22, 2008 11:06pm
I thought I was done trading for the year, but my charts presented a set-up today. So....

SHORT GBPUSD @ 1.4828, 3 lots all with SL 1.4928, will move SL to BE when PA has moved 50 pips in the direction of my trade

lot#1 TP - 1.4728
lot#2 TP - 1.4728
lot#3 - no TP set, will put 50 pip TSL on when first two lots reach TP
  • #46
  • Dec 23, 2008 5:38am Dec 23, 2008 5:38am
SL has been moved to BE on all 3 lots.
  • #47
  • Dec 23, 2008 6:22am Dec 23, 2008 6:22am
trade closed out at BE. so...

# trades taken: 19
# wins: 10
# losses: 6
# break even: 3
total # pips: +3707

I risk 10% of my account for each trade I do. I've decided to keep track of my monthly profit percentage. I will update this with each closed trade.

DECEMBER: +75%
  • #48
  • Jan 5, 2009 6:38pm Jan 5, 2009 6:38pm
SHORT EURUSD @ 1.3611. SL 1.3711, TP 1.3511 for part of position and TP open for other part of position.
  • #49
  • Jan 5, 2009 10:56pm Jan 5, 2009 10:56pm
PA has moved +50 pips in the direction of the trade so all SLs have been moved to BE.
  • #50
  • Jan 5, 2009 11:27pm Jan 5, 2009 11:27pm
Part of my position closed out at TP, gaining +100 pips. Part of my position is still open, and I put a 50 pip trailing stop on it @ 1.3511.
Here is my overall summary so far:

# trades taken: 20
# wins: 11
# losses: 6
# break even: 3
total # pips: +3807

I risk 10% of my account for each trade I do. I've decided to keep track of my monthly profit percentage. I will update this with each closed trade.

DECEMBER: +75%
JANUARY: +6.5%
  • #51
  • Jan 6, 2009 12:44pm Jan 6, 2009 12:44pm
The remainder of my short position closed out with +150 pips profit.
summary:

# trades taken: 20
# wins: 11
# losses: 6
# break even: 3
total # pips: +3857

I risk 10% of my account for each trade I do. I've decided to keep track of my monthly profit percentage. I will update this with each closed trade.

DECEMBER: +75%
JANUARY: +11.3%
  • #52
  • Jan 6, 2009 1:39pm Jan 6, 2009 1:39pm
Hey Karla,

Some impressive results!

Did you double your risk when you started trading two positions? or did you split your risk between the two? I was initially confused at how many pips you were picking up, and then realized you were counting the pips from each lot.

When are you opening your own hedge fund?

I was short from 1.3560 with a 100 pip stop. I closed at 1.3410 (100 pips from the bottom) Picked up 150 pips.
  • #53
  • Jan 6, 2009 3:38pm Jan 6, 2009 3:38pm
Hey!

I only risk 10% of my account at any one time. So, if I open a trade and PA moves enough that I can move my SL to BE and I'm guaranteed not to lose anything, I can then open another position risking 10% again. If I have two positions opened around the same time I would split the risk between the two. I don't want to have my risk higher than 10% at any one time.

Yeah, my pip count is a little confusing because of the fact that I have more than one lot on each trade, so when the second lot closes on a trade the pip count changes but the trade count doesn't... so, yeah!

How's trading going for you these days? We should discuss our trading strategies in detail sometime!
  • #54
  • Jan 7, 2009 5:35am Jan 7, 2009 5:35am
LONG GBPUSD @ 1.4918. SL 1.4818, TP for half of my position @ 1.5018, TP for half of my position open.
  • #55
  • Jan 7, 2009 6:12am Jan 7, 2009 6:12am
PA has moved 50 pips in the direction of the trade, so all SLs have been move to BE.
  • #56
  • Jan 7, 2009 6:39am Jan 7, 2009 6:39am
half my position reached TP banking +100 pips. The other half is still open with a 50 pip TSL on it.
summary:

# trades taken: 21
# wins: 12
# losses: 6
# break even: 3
total # pips: +3957

I risk 10% of my account for each trade I do. I've decided to keep track of my monthly profit percentage. I will update this with each closed trade.

DECEMBER: +75%
JANUARY: +18%
  • #57
  • Jan 7, 2009 8:24am Jan 7, 2009 8:24am
Yeah I think the only solution to the pip counting would be to just count your pips as if they were for a full 10% position. So, if you close 1/2 of your position at 100 pips that is 50 pips of a full position. If you close 3/4 it would be 75 pips, and so on.

Not like it really matters though.

Yeah, actually minus the indicators our systems are quite similar. I am using technicals to get in and I go to break-even after 40 pips. I also will use different exit strategies depending on what type of trade it is.

But yeah we should meet and discuss sometime soon.
  • #58
  • Jan 7, 2009 9:31am Jan 7, 2009 9:31am
Oh, to clarify the pip count thing, I don't tally up each lot seperately. For instance if I have a trade with two lots that take profit at 100 pips and one lot that takes profit at 150 pips i don't count that as 350 pips... only 150 pips. Hope that's clear. I had a few big trades in the past couple of months that banked several hundred pips, which caused my pip count to go way up in relation to the number of trades i did. All I really care about at the end of the day is my profit percentage.... I guess the pip count isn't really that important.
  • #59
  • Jan 7, 2009 10:16am Jan 7, 2009 10:16am
Ziva, Your doing great. Keep up the good work
Same Whore .... Different Dress
  • #60
  • Jan 7, 2009 11:52am Jan 7, 2009 11:52am
Hi Ziva

With two lots on each pair, how many pairs are you trading now?

A few traders had asked for a chart, I am posting one here if you do not mind with a setup to go long eurusd at close of the bar on the 8th December
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd daily.gif Size: 19 KB
Regards
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