Demo Trading Journal

Keeping a journal from a method from the “Trading Section” here at FF.
***All credit is due to EDGETRADER*** and a special thanks to PAULUS and SWINGMAN
Will be DEMO trading 5M charts from 5am to 11am (EST) in the direction of the 1H determined by PA
*Or until Target is reached.

Currencies: EU, GU, GJ & EJ
Starting DEMO balance: $5000
Risk: 4-10%
Max SL: 30 pips
Target: 2-10% account growth per day.
* Not sure if Im going to stick to a set %Target daily or let it go signal to signal
*All trades will either be closed at 1pm or the SL will be adjusted


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7/14/09 INDICATORS & SETTINGS
Moving Average (Period 14, Linear weighted, Weighted Close)
5M SMTRIX (2,0,False,1500)
1H SMTRIX (4,0,False,1500)
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6/18/09 RE-FUND DEMO ACCOUNT
Wasn't a true forward test...

Well there were 3 valid signals and I have missed them all today. Oh well there will be other days.

--->Short 1 LOT GBPJPY @ 161.46 / SL @ 161.76 / TP @ 160.93= +53
--->Long .5 LOT GBPJPY @ 161.30 / SL @ 161.02 / TP @ 162.00= +70
--->Long .5 LOT GBPUSD @ 1.6465 / SL @ 1.6431 / TP @ 1.6479= +14


Potential Profit for the day: +137
Daily Account Growth: 19%
*Account growth is a estimate as I did not actually place these trades

Many things learned on the 1st full day DEMO’ing this method.
---> First and foremost, I need to have some kind of exit strategy. Just saying “I want to gain xxx% a day” will not cut it.
---> Secondly, I need to respect the news. This is a NO BRAINER but needless to say I let that slip.
--->Third and final, I need to treat this demo as if it was a REAL account.

As of tomorrow my daily goal will be 25 pips. I believe this to be attainable if one is patient.

For the most part I was able to stick to the rules and wait for the set-ups. Sometimes this is extremely hard. Was looking at potential 1M entries to compliment the 5M, though more testing is needed as this may prove too difficult to focus on along with the original set-up.

Goal was met and exceeded for the day. If going by the 2% a day I’m 6 days ahead of schedule, kinda nice…

The only loss of the day the GJ was a 1M trade. I still need to make a logical mathematical approach to 1M trades if indeed they are to be used.


The last 2 days of trades are attached...

So the report for today is a bit flawed. Lost connection after I placed the EJ long. Needless to say that got stopped out for (-50) when in theory it should have been a (-24) then a short should have been triggered wich would have given the target and more.

There was plenty of opportunities in the EU for 5-10pips, though PA was very choppy on this pair.

1M looked very promising on both GJ & EJ but Im thinking that this was just a classic trend day for them.

Re-funding and Re-starting the DEMO today.

Found myself entering for all different reasons and thus it would not be a true FORWARD TEST using this strategy…