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4% A Day Forever

  • #181
  • Aug 8, 2009 5:26pm Aug 8, 2009 5:26pm
Quoting The Fool
Just stay cool T. & you will make it. Good luck this coming week!
Haven't really got a option, kinda adds to the stress of it somewhat LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #182
  • Aug 8, 2009 5:29pm Aug 8, 2009 5:29pm
Quoting The Fool
I'm just gonna do what I do and see how it goes. What I have been really trying to do lately is learn how not to lose money in my trades. I still think I suck at that and I have a long way to go. I think trading larger will help me in the risk management game, actually. Putting $50 at risk in a trade is something I would not even think about. But when its $5,000 then it will be different & I better have all my shit in one sock.

Your tradings been fine, other than that EU you held up for 200pips and got lucky you got a pull back when you did your doing fine, holding against the trend OOHHHHH NO, do that and $20 per pip and 4K down wouldn't be nice.

Most of the time you'll get lucky eventually, sometimes Margin call will come first.


10K account, I'm jealous I'd creep up those lots slowly, start with $2 standard, then if profitable go to $3 next day and continue

Okay $20 first trade and you know it
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #183
  • Aug 9, 2009 10:09am Aug 9, 2009 10:09am
Quoting The Fool
Spreadsheet updated, shows account increase of 62.4%, (or 4.8%/day) in the 13 trading days since this thread was begun. This is not counting results of a trade I am holding over the weekend (E/U long position from about avg. .4175) which is currently in profit. I am expecting a retrace north on Sunday and have tp's set above .4225. Will post spreadsheet when that trade is closed, hopefully during Sunday Asian session.

I had a pretty good dayjob payday recently and some of that has gone into the spot and futures accounts. Spot account will trade...

Wishing you the best of luck.
I'll be watching. Hope you can pull it off!

AZ
I found the guy who keeps losing me money. Its "ME" SHOOT HIM!
  • #184
  • Aug 9, 2009 11:58am Aug 9, 2009 11:58am
Quoting AZ-Heat
Wishing you the best of luck.

AZ
Thanks! Best of luck to you, too!
"If The Fool persists in his Folly he will become wise." - William Blake
  • #185
  • Aug 9, 2009 10:26pm Aug 9, 2009 10:26pm
E/U longs held from Friday taken profit, but one locked in at BE. Would be nice to see the retrace kiss the DP. Should have let them all run, I don't get the chance to score 50+ pips very often. Killed 2/3 around .4210. I'm not used to Asian session & the slow pace. Will stay away if I ever settle into a stable forex schedule.

Coming week will be a test, as I have hard dayjob deadlines to meet, so the plan is to try for 1-2 hours scalping around the FO/LO and then again at NYO & that will be all.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #186
  • Aug 9, 2009 11:32pm Aug 9, 2009 11:32pm
hi new here great thread more pips to ya fool
  • #187
  • Aug 10, 2009 12:53pm Aug 10, 2009 12:53pm
Updated spreadsheet. 5% per day average over last 3 weeks. Next weeks results will show new beginning from a larger starting capital value, account infusion came through this AM.
Attached File(s)
File Type: xls earn-project-080909.xls   53 KB | 457 downloads
"If The Fool persists in his Folly he will become wise." - William Blake
  • #188
  • Aug 10, 2009 1:02pm Aug 10, 2009 1:02pm
Scarey dude, I would love a huge account infusion, okay kinda need it
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #189
  • Aug 10, 2009 1:05pm Aug 10, 2009 1:05pm
Quoting Turveyd
Scarey dude, I would love a huge account infusion, okay kinda need it
Yup, I will do my best not to lose it. Won't be able to trade so much for next several days, into next week....maybe a blessing in disguise.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #190
  • Aug 10, 2009 1:52pm Aug 10, 2009 1:52pm
Quoting The Fool
Yup, I will do my best not to lose it. Won't be able to trade so much for next several days, into next week....maybe a blessing in disguise.

Yeah a week to calm down


Making some stupid trades here, dumping my range system totally, sticking to purely trend plays, can make enough of them can't take the losses of the range currently Doh!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #191
  • Aug 14, 2009 1:53pm Aug 14, 2009 1:53pm
Well, this has been a pretty f---ed up week. I put a bunch of money in my account & it got there on Monday. I knew I was going to be really busy with dayjob work & was thinking I would just stay out for the week. I had been rattled by the price dynamics following previous week's NFP and was not feeling so adventurous. But then Monday night I started seeing that big gangster roll sitting there & I succumbed to greed and started trading. Started scalping of all places G/J which I had not ever even done b4 but that was fun and I made some money. Then did the same in E/J and broke even. By Wed. I had gotten really stupid & decided to trade the FOMC announcement. I shorted E/U b4 the announcement and actually made alot of money but I had a full lot sitting down around tp=.4121 & big spike down missed tp by a pip at most and then stupidly I let it run, without a sl.

Duh.

So, of course, I kept shorting all the way up above .4300 to try to correct that mistake. At one point dd was over 20%. Anyway, this is the beauty (and the peril) of having a good sized account buffer. Took profits on some of the shorts on the run back down today and left some open. Currently sitting at +8% for the week but have open trades in the red over the weekend & if everything were closed now it would be about a break-even week. Will be watching during Monday Asian session and may just kill everything quick if E/U looks bullish.

Messed me up on the daywork, too so now I will have to work all weekend to make a deadline that should have been hit today.

I am going to chalk this one up to straight up Greed. I just hope one of these days these painful lessons start to sink in...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #192
  • Aug 14, 2009 2:34pm Aug 14, 2009 2:34pm
Quoting The Fool
Well, this has been a pretty f---ed up week. I put a bunch of money in my account & it got there on Monday. I knew I was going to be really busy with dayjob work & was thinking I would just stay out for the week. I had been rattled by the price dynamics following previous week's NFP and was not feeling so adventurous. But then Monday night I started seeing that big gangster roll sitting there & I succumbed to greed and started trading. Started scalping of all places G/J which I had not ever even done b4 but that was fun and I made some money. Then...

I get the girl I trade with to shoot me in the ass with a BB gun, when I make stupid trades.

+8% is good, I think everyones had a bad week and losses this week, I have 30% area, also greedy not sitting back letting the market come to me, forcing bad situations cause we need to get making money, slowed it down today and got 12% back or something though

Added some more $$$'s to won't hit till mid next week, lets get this party started

Averaging down against the trend, nearly wiped my account twice over the last 10 days, yes with enough money you can generally dig yourself out, but 1 day it'll fail and fail badly don't do it dude!!

Good weekend, there will be pips available week after next, don't lose your day job yet!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #193
  • Aug 14, 2009 2:54pm Aug 14, 2009 2:54pm
Quoting Turveyd
... don't lose your day job yet!!
Man, I heard that. I have got a long way to go...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #194
  • Aug 14, 2009 3:09pm Aug 14, 2009 3:09pm
Quoting Turveyd
I get the girl I trade with to shoot me in the ass with a BB gun, when I make stupid trades.
  • #195
  • Aug 14, 2009 9:22pm Aug 14, 2009 9:22pm
Quoting The Fool
Man, I heard that. I have got a long way to go...
You and me both sadly, thankfully I've got some extra work on, which will buy me a extra month maybe 2.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #196
  • Aug 14, 2009 9:44pm Aug 14, 2009 9:44pm
Quoting Turveyd
You and me both sadly, thankfully I've got some extra work on, which will buy me a extra month maybe 2.
Well, good luck T. I am sitting here this evening scribbling down some "Rules".

I always thought having written Rules was kindof a joke, but since I keep making the same bush league mistakes I figure I might try to give myself a little more "structure" ... and we'll see how that goes. I feel alot better now than I did, say, Thursday night, though....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #197
  • Aug 15, 2009 3:13am Aug 15, 2009 3:13am
Quoting The Fool
Well, good luck T. I am sitting here this evening scribbling down some "Rules".

I always thought having written Rules was kindof a joke, but since I keep making the same bush league mistakes I figure I might try to give myself a little more "structure" ... and we'll see how that goes. I feel alot better now than I did, say, Thursday night, though....

I've written the rules down so many times and forgotten where I saved them, or never looked at them again, or had those very same rules cost me.


Go back to your $2 per lot trading, then set profit targets where above you trade $3 and so on and so forth, ease yourself into it and only risk your profit not your stake.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #198
  • Aug 15, 2009 11:21am Aug 15, 2009 11:21am
Quoting Turveyd
I've written the rules down so many times and forgotten where I saved them, or never looked at them again, or had those very same rules cost me.


Go back to your $2 per lot trading, then set profit targets where above you trade $3 and so on and so forth, ease yourself into it and only risk your profit not your stake.
Yeah, the "rules" need to be habits, internalized, made second nature. A few basic things though, off the bat, and you are right about trade size. No more full lots until I grow the account some more. Half-lot max; better to have a position of multiple small entries anyway, imho.

Also, stay away from trading the major news events. Tempting, but just too easy to get burned.

I am going to try to focus on the things that have worked for me: scalping in the most liquid pairs at their most liquid times of day, maybe playing breakouts otherwise. I want to keep working at swing trading but, since I'm not that good at it, I will just do it very small until I get better.

I need to settle into a schedule I can live with, too, and I might have to give up the LO, then get up early and catch a few hours of the London/NY overlap. Trying to do both LO and NYO and have some normal dayjob hours has been simply too much. Trying to trade when I'm exhasted has been a definite contributor to my many f--k-ups.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #199
  • Aug 15, 2009 1:16pm Aug 15, 2009 1:16pm
Quoting The Fool
Yeah, the "rules" need to be habits, internalized, made second nature. A few basic things though, off the bat, and you are right about trade size. No more full lots until I grow the account some more. Half-lot max; better to have a position of multiple small entries anyway, imho.

Also, stay away from trading the major news events. Tempting, but just too easy to get burned.

I am going to try to focus on the things that have worked for me: scalping in the most liquid pairs at their most liquid times of day, maybe playing breakouts otherwise....

I'm waking up 2hours earlier than normal currently and not adapting well and walking around like a zombie for most of the day, definately not helping.

1/2 sized positions sound sensible, I'd imagine full lots the $ amount kinda changes pretty quickly and scarily, $2 is sometimes too much for me

Avoid news for sure.

I'm pretty much sticking to EJ, look for a direction, look for a entry with the direction and wait easy!! and Changing my system to reflect this, anything else seems to be a pure gamble currently.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #200
  • Aug 16, 2009 8:01am Aug 16, 2009 8:01am
Sorry, The Fool. I saw your oanda attachments and I cant understand your system.
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