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4% A Day Forever

  • #141
  • Jul 30, 2009 9:52am Jul 30, 2009 9:52am
Quoting Turveyd
We all fall off the wagon and into the stupid zone at times.
Turveyd, accept my sincere apologies, i've been very unpolite laghuing at you in that way, but forgive my skeptism, 85% win rate with a 2 RR sounds unreal and i don't like to be fooled, but i had no reason to laugh at you like that.
Again sorry
Happy trading!
  • #142
  • Jul 30, 2009 12:01pm Jul 30, 2009 12:01pm
Quoting Beman
Turveyd, accept my sincere apologies, i've been very unpolite laghuing at you in that way, but forgive my skeptism, 85% win rate with a 2 RR sounds unreal and i don't like to be fooled, but i had no reason to laugh at you like that.
Again sorry
Happy trading!

Chill, as said it's been a 5year mission on and off mainly off you can find my system in my journal, it's really good and really hard to master although simple when mastered kinda. And I only take the safest setups mainly!!

only +5% here, was trading in a team with a mate on MSN, the lag meant she was already in, I'd decided against so went in anyway to be fair and lost 1

Need headsets, typing too slow to get on moves on M1.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #143
  • Jul 30, 2009 10:21pm Jul 30, 2009 10:21pm
Quoting The Fool
Thank you amigo. I don't believe for a minute that I have lost my mojo. But it slipped on the first days when I started a public trading journal. Classic Instant Karma.

It is helpful for me to confess my sins, maybe shame will be the secret ingredient that will help me learn.
I am glad you started this trading journal (even as I vow to not do my own, if there is Instant Karma involved...)

I am also a scalper, also live, and also having good results. And yes, also did an Excel spreadsheet to run some numbers. Having a goal seems to be almost as important as having a solid, non-emotional strategy.

It has been interesting reading how people plan (or are) managing large accounts. I am just starting to research that myself, and am open to other's opinions.

...and Fool, I'll bet you a jar of kosher dills that you'll make it!

GOOD LUCK, and DON'T GET GREEDY
  • #144
  • Jul 30, 2009 10:32pm Jul 30, 2009 10:32pm
Quoting babyleaps
I am glad you started this trading journal (even as I vow to not do my own, if there is Instant Karma involved...)

I am also a scalper, also live, and also having good results. And yes, also did an Excel spreadsheet to run some numbers. Having a goal seems to be almost as important as having a solid, non-emotional strategy.

It has been interesting reading how people plan (or are) managing large accounts. I am just starting to research that myself, and am open to other's opinions.

...and Fool, I'll bet you a jar of kosher dills that you'll...
Thanks babe,

I have been waiting to update my spreadsheet until suchtime as I can show that I am on track with the 4% thing. I will probably be there tomorrow. Fair? Sure, its my thread. If I can show several weeks running of strong results, I am going to fund this spot account up to a level that I can trade multiple lots. I have problems staying interested when I am making <$100 for a days work, even if it is +4% per day.

The spreadsheets are fun, but honestly, I don't often look at mine or even think about it much.

Not a big dill pickle fan, but I'm glad you are on my side. Best of luck to you, too.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #145
  • Jul 30, 2009 11:13pm Jul 30, 2009 11:13pm
Quoting The Fool

The spreadsheets are fun, but honestly, I don't often look at mine or even think about it much.

Not a big dill pickle fan, but I'm glad you are on my side. Best of luck to you, too.
Okay, no pickles.

I just do the spreadsheet for fun, too, but it does help keep me focused. My goal per month is 10% (I am conservative with my money management) but I was up 44% last month. I do not expect to do that all the time.

I read through this thread and have seen a lot of people pointing out (accurately) the difference in psychology between trading with small numbers, and that of trading with huge lots. I've thought a lot about that, and hopefully discipline in trading and money management will carry over to trading in larger orders. Change display to show pips won/lost instead of cash, use MT4 that retains the order size you're trading (so it is nearly automatic to place a larger order), have a solid steel-clad technique that you can do like clockwork, and BACK AWAY FROM THE SCREEN when all that doesn't happen.

Here's to hoping we both get to that point.
  • #146
  • Jul 30, 2009 11:32pm Jul 30, 2009 11:32pm
Quoting babyleaps
Okay, no pickles.

I read through this thread and have seen a lot of people pointing out (accurately) the difference in psychology between trading with small numbers, and that of trading with huge lots. I've thought a lot about that, and hopefully discipline in trading and money management will carry over to trading in larger orders.
The more capitalized you are, the more conservatively you can afford to trade. I would bet also, the more conservatively you will be inclined to trade. I hope we get the chance to find out
"If The Fool persists in his Folly he will become wise." - William Blake
  • #147
  • Jul 31, 2009 3:35am Jul 31, 2009 3:35am
Quoting The Fool
The more capitalized you are, the more conservatively you can afford to trade. I would bet also, the more conservatively you will be inclined to trade. I hope we get the chance to find out

It's all very well blowing a £1000 account yes it sucks ( $6000 to near zero in 3 days trading options 7years back ), but with £50,000 it'd be suicide time!!

Got a mate, who's spent 2years building up a 250K account, he was shorting SPY at $500 per pip recently picking tops slipped back to his old ways and he's down $72K in 3 weeks, I could live off that for 3years, scarey.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #148
  • Jul 31, 2009 4:27am Jul 31, 2009 4:27am
Hi Turveyd,

I have been scalping E/G this LO and beyond. E/G kinda slow, but well-behaved - and $16+/pip per lot its alright. Have made a couple percent. As of the moment up 15% on the week. Bedtime, will check in at the NY open to see if there are some good setups.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #149
  • Jul 31, 2009 4:42am Jul 31, 2009 4:42am
Quoting The Fool
Hi Turveyd,

I have been scalping E/G this LO and beyond. E/G kinda slow, but well-behaved - and $16+/pip per lot its alright. Have made a couple percent. As of the moment up 15% on the week. Bedtime, will check in at the NY open to see if there are some good setups.

+15% nice but it's not the 4% you promised me


Not trading today, my last work and clients to see / do before I go Full time ecccckssssssssss!!!!

I'm more of a really short term read near immediate trend following guy, I can't think quick enough to scalp, plus FXCM slips me 1-2pips every order so I've got a spread of 5 really


Take it easy dude
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #150
  • Jul 31, 2009 12:08pm Jul 31, 2009 12:08pm
If you held your EU all the way up then you should over take your 4% per day target easy peasy


Please say it's so
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #151
  • Jul 31, 2009 12:26pm Jul 31, 2009 12:26pm
Quoting Turveyd
If you held your EU all the way up then you should over take your 4% per day target easy peasy


Please say it's so
haha coulda shoulda woulda. Closed that long position half in the .4090's and half at .4120. Probably won't trade again til next week. By the time I get the sleep out of my eyes here on the West Coast come a Friday morning, the week is basically done. I am feeling just a tad wiser, though, so should be back on track next week.

Have a good weekend, mate.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #152
  • Jul 31, 2009 12:37pm Jul 31, 2009 12:37pm
Quoting The Fool
haha coulda shoulda woulda. Closed that long position half in the .4090's and half at .4120. Probably won't trade again til next week. By the time I get the sleep out of my eyes here on the West Coast come a Friday morning, the week is basically done. I am feeling just a tad wiser, though, so should be back on track next week.

Have a good weekend, mate.
There was no way to know it would do that to be fair, so you got out with nice profits and all is well.

West Coast so it's still 8:30am or something there ??

Definately time zone wise the worst place in the world to trade from, it's okay in the UK

You to dude, Full time next week SCARED!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #153
  • Jul 31, 2009 3:16pm Jul 31, 2009 3:16pm
Quoting Turveyd
4th trade +23.2% today, the secret is to never have losers

Most of you guys have obviously not been doing this long enough. if you can have those kind of returns while controlling your exposure and risk, then you'll become the richest person in the world very soon.
  • #154
  • Jul 31, 2009 3:36pm Jul 31, 2009 3:36pm
Quoting dunningduke
Most of you guys have obviously not been doing this long enough. if you can have those kind of returns while controlling your exposure and risk, then you'll become the richest person in the world very soon.
Hey, tough job, but somebody's gotta do it.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #155
  • Jul 31, 2009 3:36pm Jul 31, 2009 3:36pm
Quoting dunningduke
Most of you guys have obviously not been doing this long enough. if you can have those kind of returns while controlling your exposure and risk, then you'll become the richest person in the world very soon.

Well, Forex nearly 5 years, very casually not taking it at all seriously until recently., I trade stocks for 4years and lived off trading Options for @9months.

So 10years all in nearly I think here.

28% is easy, not many pips on a £350 account, it can swing the other way just as easily, my percentage will drop off sadly as I lower my risk!! ( @80pips all week at $2 per pip ), if you find 80pips profit in a week unreal you need to learn how to trade quickly


I went from £56 to £84 +£28 or a straight 50% increase in 1 trade, risk 100% ( to £50 Margin ), as a example.

Simple math's people!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #156
  • Aug 1, 2009 10:18pm Aug 1, 2009 10:18pm
Spreadsheet updated, attached. Shows on-target (barely) since inception. Some fudge in the numbers because I show a daily 4% target with a 30% extraction of each days profit, which I have not extracted (not worth the effort for a daily $20 payout) - so, in truth, I am short. However, technically, July 31 trading day will not end until midnight on my next Sunday (8/2), since the "days" on the sheet run midnight-midnight. So I have the Monday Asian session and the FO to trade and potentially add to 7/31. This is fair since my Friday has almost no "Friday" Asian session (and the "Monday" Asian session occurs on my Sunday) - one drawback of living on the west coast USA, possibly the worst location to daytrade from, in my view.

Anyway, pretty poor performance, as I have documented earlier. I do, however, somehow feel wiser, just a little. Started looking closely at trading E/G (& did make some good E/G scalps) and also paying much more attention to pivot levels and making better entries on all trades. I feel like I am finally growing some healthy respect and habits for risk management and now before any trade I spend a good long while asking myself, "What can go wrong? Why do this? etc, etc" Hopefully not to the point of paralysis. In the coming week I am going to learn how to upload a chart & will do that.
Attached File(s)
File Type: xls earn-project-73109.xls   53 KB | 525 downloads
"If The Fool persists in his Folly he will become wise." - William Blake
  • #157
  • Edited 5:52am Aug 2, 2009 4:08am | Edited 5:52am
http://www.pbs.org/wnet/ascentofmone...to-bubbles/44/

Have been watching "The Ascent of Money" n PBS. You can read the book in less time than the 4-hr film, but the latter is better.

http://www.pbs.org/wnet/ascentofmoney/

... might be a better link.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #158
  • Aug 2, 2009 5:28am Aug 2, 2009 5:28am
Doing okay there +$249 or 16.8%, which is enough to annoy the 4-5% per month crowd!! With alot more of the month left

Building a account from nothing sucks cause at first the gains are too small to almost bother doing it.

But the advantage is if you blow it then you lose nothing relatively.


Sadly I'm in the smaller account building business.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #159
  • Edited 2:37pm Aug 3, 2009 2:00pm | Edited 2:37pm
Tried scalping a little around LO but was too tired. Woke up for the NYO and scalped successfully. Took a little nap and entirely missed the move up from 4300 to over 4400, but then scalped repeatedly short from 4430 down toward 4400. Up 9.2% on the day. Am watching for a deeper retrace below 4400 but it seems to be holding well. Probably will not trade again unless I see good PA in the Asian session.

Wow, first time I ever posted a chart. Not much to see, probably won't waste too much bandwith by doing it often. But I (try to) save every day's trades as a screenshot...
Attached Image (click to enlarge)
Click to Enlarge Name: 080309EU.png Size: 103 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #160
  • Aug 3, 2009 2:03pm Aug 3, 2009 2:03pm
Quoting The Fool
Tried scalping a little around LO but was too tired. Woke up for the NYO and scalped successfully. Took a little nap and entirely missed the move up from 4300 to over 4400, but then scalped repeatedly short from 4430 down toward 4400. Up 9.2% on the day. Am watching for a deeper retrace below 4400 but it seems to be holding well. Probably will not trade again unless I see good PA in the Asian session.

9.2% but thats not possible, no 1 can do that


Holding EJ Long for a bounce, but it's looking rough trend trying to turn down, hmmmmm!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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