Xaron's 1,000 to 10,000 live trading horror show

Hi all,

I just thought about my trading and want to try something new (for me) here. I will trade only technical stuff here and my approach is pretty simple:

1) I trade the hourly chart with a setup based on Phil Nel's 5m system. So basically everything above the 50 SMA are long trades only, everything below short trades. So I will try to buy into retracements within a trend. That's all.

2) I use higher highs/higher lows and such stuff as well.

3) I use simple trend lines.

That's all.

I trade over there at RBS Marketindex which gives me some additional things to trade like commodities, indices and bonds to diversify a bit. I'll start with EUR 1,000 today and will post my entries and other stuff as usual. I don't know how far this goes and if it will be successful but my first target are 10k, no matter how long it will take.

How's the trading position going Xaron? BTW you're a German pimp man.

Account today:

http://www.xaron.net/dl/fx/2010/mi/account_060410.png

Thanks. Had some tough times with my pimped BWILC style. Actually I want to lower my overnight exposures as it's sometimes a bit stress.

EUR/GBP looks like a screaming buy to me, possible bounce of the daily trendline plus the fact that I think the pound will tank heavily this year:

http://www.xaron.net/dl/fx/2010/mi/eurgbp_060410.png

Went long USD/CAD at 1.0009 (might bounce from the obvious big parity barrier) and short AUD/JPY at 86.77 (lower lows in the hourly and possible equities sell off, plus the fact that the RBA has hiked and might pause now).

Chart for the AUD/JPY:

http://www.xaron.net/dl/fx/2010/mi/audjpy_060410.png

You see the failure to make new highs in the hourly at the top and new lows. I think there is a bubble to pop.

i have Same trades. including GJ and EJ too.

Good Luck.
.

Good luck to you as well!

New trade: Short crude oil at 85.55 with 30 units.

The reason for this counter trend trade is simple: The daily looks a bit overstretched and we might have a double top in the hourly:

http://www.xaron.net/dl/fx/2010/mi/oil_060410.png

This comes hand in hand with my long USD/CAD as well, so let's see how this plays out.

Shouldnt you turn weekend candles off to use MAs effectively?

Good to hear from you again. I will keep my thumbs pressed!

Yes of course. I did that but this does not work correctly at MI... And the MA's are only a very, very rough thing, nothing in stone.

Have you had the chance to formulate some protective rules which would help prevent big losses if the market isn't aware of what it "should" do?

The main protective rule is low leverage. The second thing is some kind of comfort zone (which comes from BWILC), the third is closing losers when it's obvious that I am totally off.

My first week was rather bad, got stopped out in my Oil short exactly to the pip at 86.40 only to see it reach my target of 84.50 after, without me.

AUD/JPY was stopped out as well and took a dive afterwards, Thursday and Friday I was just sick, so let's see what next week will bring.

1h charts are still rather choppy so I decided to switch to 4h charts.

Current account state and positioning:

http://www.xaron.net/dl/fx/2010/mi/account_120410.png

I lower my target for EUR/GBP to 8900 for 2/3 of the position because of a daily trend line coming down there. Added more longs in EUR/USD all with a target of 1.38.

Hi Xaron,
I am very happy you started this thread.

Would you please be so kind to elaborate on the low gearing and how you define your lot size and stop? I guess the whole concept of trading this way is very much related to the low gearing and large stops and compounding, am I right?

Also, I was thiking to try and put together the Vegas 4 hour tunnel or similar system with very low gearing and compounding.

Along the thread it would also be nice to understand what went wrong with the BWILC

Luca

hi Xaron, why don't you post again in this thread? do you still doing your plan? thanks

That was with MarketIndex, I continue my trading at Oanda here: http://www.forexfactory.com/showthread.php?t=250605