I wont post any charts for this session as there would have been a lot of good setups and hopefully you made positive pips
I stopped after 47 pips (in Asian session) as I had things to do here in NZ in the evening (start of London).
I'm currently analysing my trade log (you do keep one ... don't you) and I'll post analysis of it shortly ie risk/reward, win/loss ratio etc. This is my first serious month so hope this will help a few of you new guys.
- #15,723
- Nov 25, 2009 1:29pm Nov 25, 2009 1:29pm
Well, my EURUSD Buy trade just won with this spike up. 
Only got 10 pips this morning for NY... But better than nothing. I'm going to start to also trade the GBPUSD together with EURUSD just to get some more trades in, otherwise, 1-2 scalp trades per day isn't quite enough and hard to make my goals. ^^" I'm done for today... Best wishes everyone.
Only got 10 pips this morning for NY... But better than nothing. I'm going to start to also trade the GBPUSD together with EURUSD just to get some more trades in, otherwise, 1-2 scalp trades per day isn't quite enough and hard to make my goals. ^^" I'm done for today... Best wishes everyone.
- #15,725
- Nov 25, 2009 3:45pm Nov 25, 2009 3:45pm
- | Commercial User | Joined Jul 2009 | 1,436 Posts
This is my first month where I managed to turn the tide ... now winning (EDIT: Yes it's a live account).
Here's the results for my first week of Nov ... typical of my poor performance.
Here's what happened after I became 'enlightened'
I know that this isn't great compared to normal full-time traders but it's a good start.
Now the big thing to note is that the number of trades I took in the rest of Nov (nearly 3 weeks) is less than the first week. So the lesson is to trade less! Trade only the best setups.
Also, my average loss is 12.5 pips ... I'm OK with this as I trade the M15 and I usually set my stop to between 20-30 pips.
I would like my Win/Loss to be more than 70% and my Risk/Reward to be 2:1 or better.
Hope this info is useful to some of you.
Here's the results for my first week of Nov ... typical of my poor performance.
Here's what happened after I became 'enlightened'
I know that this isn't great compared to normal full-time traders but it's a good start.
Now the big thing to note is that the number of trades I took in the rest of Nov (nearly 3 weeks) is less than the first week. So the lesson is to trade less! Trade only the best setups.
Also, my average loss is 12.5 pips ... I'm OK with this as I trade the M15 and I usually set my stop to between 20-30 pips.
I would like my Win/Loss to be more than 70% and my Risk/Reward to be 2:1 or better.
Hope this info is useful to some of you.
Is my honesty being questioned? If someone can tell me how to post a simple log from my oanda account ie simple to read showing pips without my 'lots' I will post it it better.
Here's my transaction log ... monetry figured blanked out, you will have to work out the pips from entry and close lines.
EDIT: Note that this is FXTrade (real) and not FXGame (Demo)
There is a free utility at http://www.alojacores.com/fxhit.zip which will analyse your Oanda trades.
It is basically cut & paste from the Oanda history - a bit flaky but does work. If you just want to show pips, you can screen cut from here.
You can probably write something much better in your spare time - lol
Thanks for great work on the mini charts ...
- #15,731
- Nov 26, 2009 3:50pm Nov 26, 2009 3:50pm
I've posted nothing the last month or so, but i've tested the system in my spare time when i was not working or went to school. I think i understand more and more the system, i only add something to my chart. I think that you need to make it personel i hope to go live after the newyear.
This system needs practice, you need to understand it. follow the rulus, maybe personelize them and yes, you can make pips. But you need focus, it is so important to concetrade on trading, more than i could expect.
This is absolutly the best system i've seen the last years!
(yes, i know, my english is bad!
)
i hope to go live after the newyear. This system needs practice, you need to understand it. follow the rulus, maybe personelize them and yes, you can make pips. But you need focus, it is so important to concetrade on trading, more than i could expect.
This is absolutly the best system i've seen the last years!
(yes, i know, my english is bad!
)
- #15,733
- Nov 26, 2009 4:14pm Nov 26, 2009 4:14pm
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
Keep It Simple
- #15,736
- Edited 1:53am Nov 27, 2009 1:37am | Edited 1:53am
- | Commercial User | Joined Jul 2009 | 1,436 Posts
OK ... I'm 
Just did my largest ever THV scalp ... GU short 86 pips. Here's a shot of my account (for the sceptics) before I cashed out.
EDIT: That means I beat my daily record as well ... I'm well over 100 pips for the day and all during Asian session.
If you look at my THV chart, you'll see I was a little aggresive ie didn't wait for cross of zero (fast trix) and coral. I knew the trend was with me and we just came out of overbought.
Just did my largest ever THV scalp ... GU short 86 pips. Here's a shot of my account (for the sceptics) before I cashed out.
EDIT: That means I beat my daily record as well ... I'm well over 100 pips for the day and all during Asian session.
If you look at my THV chart, you'll see I was a little aggresive ie didn't wait for cross of zero (fast trix) and coral. I knew the trend was with me and we just came out of overbought.
- #15,737
- Nov 27, 2009 2:00am Nov 27, 2009 2:00am
- | Commercial User | Joined Jul 2009 | 1,436 Posts
I can't believe how large the movements have been for each session ... hope you guys get as much during the others.
Here's my stats for todays ranges on the 3 currencies I trade EU, EJ & GU:
EDIT: Open/Close times are in my local time (NZ = GMT + 13)
Here's my stats for todays ranges on the 3 currencies I trade EU, EJ & GU:
EDIT: Open/Close times are in my local time (NZ = GMT + 13)
- #15,738
- Nov 27, 2009 2:34am Nov 27, 2009 2:34am
- | Commercial User | Joined Jul 2009 | 1,436 Posts
I'm now considering what the definition of a trader is. What goal can I set that once achieved I can remove the question mark from my picture?
Some people are traders because of their job position. That doesn't mean they meet the 'right' criteria to be considered one ... they may be hopeless at what they do.
I wish I knew criteria eg pips, income, risk/reward ratio, win/loss ratio that would consider one as having "met the standard".
I've heard an average of 40 pips per day (or 800 per month) is the minimum standard. What do you guys think?
Anyone brave enough to set me a goal? ... for the removal of my '?' after the word trader?
Some people are traders because of their job position. That doesn't mean they meet the 'right' criteria to be considered one ... they may be hopeless at what they do.
I wish I knew criteria eg pips, income, risk/reward ratio, win/loss ratio that would consider one as having "met the standard".
I've heard an average of 40 pips per day (or 800 per month) is the minimum standard. What do you guys think?
Anyone brave enough to set me a goal? ... for the removal of my '?' after the word trader?
- #15,740
- Nov 27, 2009 6:17am Nov 27, 2009 6:17am
Not sure whether that makes me a trader... but I'm extremely happy with 20 pips/day average, traded with as a low risk as possible.
Compounded that gives me enough to make a living.
Sounds few, but is still not easy do achieve, at least for me
Compounded that gives me enough to make a living.
Sounds few, but is still not easy do achieve, at least for me
"The only successful substitute for brains is silence."