Would it be too much trouble to pay me back my $20,000, my sexy darling?

Im back in long after price broke this 15 min TL late Asia -
EDIT: had to endure some consolidation but we got their taking profit at the central pivot and reversing the trade

I have a short bias based on the daily chart which shows a cluster of reversal candles at the 38.2 fib resistence as a convincing bear flag is forming. I managed a 1.9% return trading with this bias today. 15 of my 21 trades today were short
I have manually calculated the statistics, I will put an excell spread sheet together for this purpose asap so I can post my daily results and review my performance in more detail. Today was excellent as the stats reveal

trades: 21
pips: 30.9
average trade: 1.4 pips
total return: $44.31
percentage return: 1.89%

winners: 14
pips won: 58.6
average win: 4.2 pips
gain: $72.68

lose: 7
pips lost: 27.7
average loss: 3.9 pips
loss: $28.37

win/loss: 2.1
win %: 67%
profit factor: 2.6
max draw: 0.54%

Continuing my short bias for another day produced excellent results as the market finished over 100 pips lower. I took 38.9 pips earning 2% return. It took 4 hours and 20 trades to do it and I earnt $46, Thats $11.50 an hour! Ok, its a long way from porches and yachts or even getting my losses back but not bad for doing a hobby I really enjoy. This time last year I was watching my account slowly leak the last dregs of my funds after being liquidated on a single bad trade. Slow and steady wins the race! My sexy darling is being very co operative lately.

trades: 20
pips: 38.9
average trade: 2 pips
total return: $46.84
percentage return: 2%

winners: 15
pips won: 56.2
average win: 4 pips
gain: $67.12

lose: 5
pips lost: 17.3
average loss: 3.5 pips
loss: $20.27

win/loss: 3/1
win %: 75%
profit factor: 3.3
max draw: 0.3%

I formed a mild long bias today after a hammer candle formed on the four hour chart at fridays close
Price did trend upwards from the open but I did not trade asia. I came online early london and noticed I had missed the 50 pip move and price was now consolidating. A bullish penant was forming in line with my bias so I traded mostly long anticipating a breakout and continuation to occur. I did 23 trades and despite some good gains early in my session, price remained contained and I ended up losing my profits and finishing slightly down. I notice that price later went onto breakout of the triangle as expected.
My bias was correct
I correctly predicted what price was going to do
I lost money - I wasnt trading when the moves I was expecting occurred - thats bad luck. Fortunately due to my risk management I only lost 0.3% of my account. I am very happy with that performance

I flipped to strong short bias today as a bear flag had formed on the hourly. This suggested price was going to continue its downtrend. A Double top occurred at R1 pivot resistence and it was clear to me what was about to occur. Price just dropped 100 pips in 2 hours.I began positioning short close to the top. I had my pips in the bag before the break even got going achieving another 2% return. 22 of my 24 trades today were short, I could not lose today.

trades: 24
pips: 39.28
average trade: 1.64 pips
total return: $50.91
percentage return: 2%

winners: 17
pips won: 63.4
average win: 3.7 pips
gain: $82.17

lose: 7
pips lost: 24.1
average loss: 3.45 pips
loss: $24.1

win/loss: 2.4/1
win %: 71%
profit factor: 2.63
max draw: 0.24%

Impressive thread!

Great performance

Your sexy darling really likes you


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http://www.myfxbook.com/members/pc8multifx

We have had our share of bad times and she continues to be very difficult at times

That leads usually to a long lasting relationship ...

Good luck!

I think we will be together for life now, thanks for your encouraging comments

I aim to have more winners than losers, and for those winners to be larger than the losers. It is not necessary to be positive in both camps to be profitable but for me its like double insurance for profitability. I do not like taking losses that are bigger than I can recover on the next trade and I like winning more than losing so this formula best suits my personality. I try to make sure my trading stays within these parameters. Monitoring my performance keeps me in touch with my trading. It exposes areas that need improvement as well as reassuring me when the results alone suggest otherwise. My spreadsheet is complete and it supplies me all the stats I need and includes a nice graph to look at too. I was hoping to display it in this journal but it wont display as a pic - only a link.
Here it is if anyone one would like to use it. You need to manually enter the size and pips won/lost for each trade and the spreadsheet works out all the rest. The buy/sell column is not used to calculate anything at the moment but I will probably add a ratio calculation for this column later

easy pickings today all trades were short on the carcass of the currency formerly known as the Euro. Another 2% gain

trades: 9
pips: 42.1
average trade: 4.68 pips
total return: $46.38
percentage return: 2%

winners: 7
pips won: 42.4
average win: 6.1 pips
gain: $46.78

lose: 2
pips lost: .3
average loss: 0.15 pips
loss: $0.39

win/loss: 3.5/1
win %: 78%
profit factor: 118.67
max draw: 0.01%

Handy spread sheet, thanks. You appear to be able to manage well at this point, good luck.

Thanks bankshot - the excell sheet has got a bug in the drawdown calculation, It only works upto about row 7, Ill let you know when the final version is ready

Another sell day with 7 out of ten trades short - of the two losers both were buys so I would have been better to stick with selling. You have to keep on your toe's though, the market can turn anytime.

trades: 10
pips: 35.8
average trade: 3.58 pips
total return: $35.18
percentage return: 1.4%

winners: 8
pips won: 42.7 pips
average win: 5.34
gain: $44.62

lose: 2
lost: 6.9
pips average loss: 3.45 pips
loss: $9.44

win/loss: 4/1
win %: 80%
profit factor: 4.72
max draw: 0..37%

I started the day with 3 losing trades - I hate that!! I recovered my losses and went on to finish with good gains. All I did today was sell rallies. 21 out of 22 trades were short and yet price trended up all session. I was lucky there werent any serious breakouts or it would have been a different story.
Stats are not as good as they have been but I still won more than I lost with an average winner bigger than my average loser. I have to go back to work the day job next week so I anticipate less trading and posting. I will try to drop in at least once a week

trades: 22
pips: 36.6
average trade: 1.65 pips
total return: $34.19
percentage return: 1.34%

winners: 15
pips won: 60.6 pips
average win: 4.04
gain: $83.60

lose: 7
lost: 24.4
pips average loss: 3.49 pips
loss: $33.40

win/loss: 2/1
win %: 68%
profit factor: 2.5
max draw: 0.6%

The Excel is excellent, you put a lot of effort into it.
Scalping is not my thing but seems you're really good with it. Congrats!

Thanks - your absolutely right - I am not the most pc literate and only have a little experience with excell - it took me three full days and about another week off and on to get it done and had to resort to my math geek computer nerd brother in law for the drawdown formula


Im selling rallies based on my daily chart analysis - Ive already reached my 1% return today and the market has barely got going. I am leaving small positions behind to participate in the bigger moves down should they occur. At this stage I am very confident they will

I did 28 trades today, selling rallies at resistence for a 3.48% return, adding $90 to the account, my best single day result since opening

trades: 28
pips: 59.9
average trade: 2.14 pips
total return: $90.66
percentage return: 3.48%

winners: 17
pips won: 82.4 pips
average win: 4.84
gain: $114.87

lose: 11
lost: 22.5
pips average loss: 2.05 pips
loss: $24.21

win/loss: 1.6/1
win %: 61%
profit factor: 4.75
max draw: 0.21%

Great stuff MAC, keep it up.

very useful spread sheet i borrowed it from you
thank you sir

Well done..keep up good performance...you are proving to everyone that one make small number of short profitable trades.