Four Kids 2nd Journal

ucad closed at 1.0267 +40 pips
ucad closed at 1.0267 +48 pips
ucad still open, currently at +40 pips

eu short 1.3654, sl 1.3752, tp 1.3530
eu short 1.3654, sl 1.3752, tp 1.3590

eu moved sl from 3590 to 4610. I made a mistake. Stop was on the wrong side of 4600 round number. If it had of been placed at 4610, it would be closed now with +ve pips.

ucad closed at 1.0275 +40 pips

Both eu trades still open

eu hit target at 1.3610 +44 pips
eu still open at +23 pips

eu closed at 1.3598 +56 pips

fourk, what kind of sls do you use and the risk you take per trade?

Hi cools. Stops are placed at, about, the last sr area, but round numbers and atr are taken into consideration. If you look back at my trades and take note of the entry , sl, and tp prices, you will see that the risk is usually greater than the reward. I am also risking more than 2,3 or 5% of my account.

So my money management and risk to reward is not what all the guru's and teachers and authors would approve of.
I dont know how much per trade I risk, never bothered to work it out, but it is not something silly like 40 50 or 60%

As you can see it has taken 9 weeks and about 60 trades to go from about $80 to a bit over $400, so I think I have been taking a slow but not anal approach.

Common sense is the approach I take.

People get so anal about working out exact percentage's when it comes to mm and r/r.

Imho the most important thing to have is more winning trades than losing trades coupled with a common sense approach to mm and r/r. I know that sounds obvious, but to a lot of people it isn't that is why they spend so much time and energy, preaching and writing about mm and r/r, because they are worried about having more losers than winners, or about one bad trade dealing them a bad blow.

If you have more wining trades than losing trades then you are making money. I know one bad trade can wipe out a lot of your account therefore mm, blah blah blah, I say common sense. I also know you can have +ve pips and -ve money and visa versa blah blah blah, been their suffered that, once again I say common sense.

Another thing that people will disaprove of is the way I count pips, but they can count their pips their way and I will count mine my way.

The bottom line is I am making money, that's all that matter's.

On some of my next trades I will explain the stop placement's.

Geez, just read my last post. Sorry about the rant. Didn't mean to come across so arrogant, must of needed to get something off my chest.

Would you keep up your journal ?

yes

Four pending orders:

ncad short .7145, sl .7255, tp open
ncad short .7145, sl .7255, tp open

gchf short 1.5980, sl 1.6150, tp 1.5920
gchf short 1.5980, sl 1.6150, tp open

Thank Q FourKids

Weekly roundup:
6 trades, 2 won, 2 open, ( ncad +2, +2 ), 2 pending ( gchf's )
Last weeks ucad's closed at +40, +40, +48
This week eu +44, +56
+228 pips for the week
Balance at start of week $437, at end of week $519

Watch list:
ea, ecad, eg, ej, uchf. All at sr level's. All 5 are in downward trends, so I will only be looking for shorts. Eg is a weekly, ej is a 4hr, the others are daily's.

The pending order's for gchf are still in place. Ncad's have been triggered.

gchf's triggered at 1.5980

gchf closed at 1.5949 +31 pips
gchf still open

ncad still open
ncad still open

hey fourk,

is this the only system you trade or also scalp or somethign else?

Hi coolshades,
I also trade off the 15 min charts. Usually when I am looking at entering a trade such as the ncad and uchf trades that have been triggered, I will enter early off a 15 min bar, and also enter correlated pairs such as nu and gj in this case. These trades will last from minutes to days.

I don't show these trades here for 3 reasons: 1) They are higher risk trades. 2) I can have several trades open at once and that requires a lot more concentration, more than I have to be able to trade and type about it at the same time. 3) I do it because I am impatient and bored, and this is what caused me to blow up my 1st journal. These are traits/ characteristic's that I am trying to get out of my trading, because I don't want to spend hours in front of the computer, unfortunately I am totally addicted, also I do alright at it. Last night for instance ( my time ), I made 270 pips.

Sorry I haven't explained any stop's yet, will do that soon.

thks. do you trade a larger account as well? or this micro account is a lark?

Four Kids you still have a GCHF still floating , do you think it would be drop again ?