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  • #161
  • Apr 15, 2010 4:11am Apr 15, 2010 4:11am
Quoting neutro
You traded the plan, and that's a good thing.

I went short yesterday on that little EURAUD daily pin but got out too quickly (got scared after the fast retrace off FTA @ 1.4570). Didn't stick to the plan (gap fill) and that's a no-no. Another entry in the journal to review at the end of the week.
Yeah I know...I looked at the chart was retracing exited when wrote the post...looked again and it had gone through...I could still be more patient at times like that.

emotions and psychology associated with watching winners go back to BE or losing is what causes us to cut winners prematurely...we get scared as we see the $$$ getting lower in the profit column and that cuases our emotions to make us cut the trade. I found this very very hard to overcome at first...trading my P/L was my biggest issue and it took me a long time to re-wire my mind to trade a plan rather than exit upon emotional impulses.
  • #162
  • Apr 15, 2010 4:13am Apr 15, 2010 4:13am
Quoting neutro
Big thumbs up for you. 170% in 2 weeks is really something.

I'm going to do that sometime in the future.
Thanks...it should be more though, still plenty to learn and improve on...there are far better traders on here than me, but hopefully it shows what can be done if you know where confluenced areas are etc.
  • #163
  • Apr 15, 2010 4:14am Apr 15, 2010 4:14am
Quoting lovejoy80
Yeah I know...I looked at the chart was retracing exited when wrote the post...looked again and it had gone through...I could still be more patient at times like that.

emotions and psychology associated with watching winners go back to BE or losing is what causes us to cut winners prematurely...we get scared as we see the $$$ getting lower in the profit column and that cuases our emotions to make us cut the trade. I found this very very hard to overcome at first...trading my P/L was my biggest issue and it took me a long time to re-wire my mind...
Those emotional impulses s*ck. I'm doing them for some time and I don't seem to get over them. But a journal sure helps. That and not having the terminal window opened and leaving a trade to do it's thing without checking on it every 5 min.
  • #164
  • Apr 15, 2010 4:14am Apr 15, 2010 4:14am
Quoting lovejoy80
fxPro or Oanda...no problems with them so far.

Oanda is easier to get more precise lot sizes (I am rubbish at working out correct lot size for amount @ risk of available equity quickly - I need to use a calculator like Oanda has)...although I am looking to try out spreadbetting gold and oil at IG Index (it's a UK thing - the biggest advantage is that any gains or not subject to capital gains tax compared to using a forex broker!).
I am also crap in calculating sizes. I can send you a very simple excel calculator (my girlfriend did it for me LOL!).

First fill in your total equity and your risk % (Green cells).

Then:

Select the pair clicking on the yellow scrolling cell.
Select the number of pips for your SL
It calculates automatically your position size.

Hope it helps.
Congratulation with your achievement.
Attached File(s)
File Type: xls Position Sizing.xls   45 KB | 250 downloads
  • #165
  • Apr 15, 2010 4:16am Apr 15, 2010 4:16am
Quoting lovejoy80
Thanks...it should be more though, still plenty to learn and improve on...there are far better traders on here than me, but hopefully it shows what can be done if you know where confluenced areas are etc.
Yes you're right, but if you had a large account (50-100k, I assume you're not trading that kind of money now (I might be wrong)) would you still be doing the same thing? Risking 1-2000 $/E per trade is a big thing (both financially and emotionally).
  • #166
  • Apr 15, 2010 4:17am Apr 15, 2010 4:17am
Quoting ogeid
I am also crap in calculating sizes. I can send you a very simple excel calculator (my girlfriend did it for me LOL!).

First fill in your total equity and your risk % (Green cells).

Then:

Select the pair clicking on the yellow scrolling cell.
Select the number of pips for your SL
It calculates automatically your position size.

Hope it helps.
Congratulation with your achievement.
Doing your position size in your head is a real good mental exercise. It's worth the effort. And it's not like calculating integrals and limits.
  • #167
  • Apr 15, 2010 4:18am Apr 15, 2010 4:18am
Quoting neutro
Those emotional impulses s*ck. I'm doing them for some time and I don't seem to get over them. But a journal sure helps. That and not having the terminal window opened and leaving a trade to do it's thing without checking on it every 5 min.
It took me ages and I'm still not that great at it...but I've accepted I'm never going to be able to trade completely emotinoless, as long as I can control them enough and most of the time then I do ok....see what I mean on exits...closed GJ far too early.

It is harder on the lower time frames as you have to constantly look at the charts when price is moving fast like yesterday and today...when price is moving slowly or trading higher tmieframes it is much easier to set alerts for areas you are interest in and when setting a trade setting alerts at problem areas and then just do something else (having a life) in between. I also used to hide the P/L column on my platform so I wouldnt make exit decisions based on P/L.
  • #168
  • Apr 15, 2010 4:23am Apr 15, 2010 4:23am
Right more positions on AJ, EJ, CJ, UC,EC
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aj.gif Size: 17 KB
Click to Enlarge Name: cj.gif Size: 18 KB
Click to Enlarge Name: ec.gif Size: 14 KB
Click to Enlarge Name: ej.gif Size: 17 KB
  • #169
  • Edited 4:27am Apr 15, 2010 4:26am | Edited 4:27am
Quoting neutro
Doing your position size in your head is a real good mental exercise. It's worth the effort. And it's not like calculating integrals and limits.
I've tied but I just cant do it...trading in GBP doesnt help...I'm actualy pretty good at maths (physics degree) but seem to have a mental block in this regard...will try again to go through this over the weekend and see if I can crack it lol.
  • #170
  • Apr 15, 2010 4:47am Apr 15, 2010 4:47am
Quoting lovejoy80
I've tied but I just cant do it...trading in GBP doesnt help...I'm actualy pretty good at maths (physics degree) but seem to have a mental block in this regard...will try again to go through this over the weekend and see if I can crack it lol.
Well, a little help is indeed needed.

I have it in Euros.
Attached File(s)
File Type: mq4 Market-Value_GBP.mq4   3 KB | 183 downloads
  • #171
  • Apr 15, 2010 4:52am Apr 15, 2010 4:52am
UC was long @ 0.9994 2%
EJ short @ 125.95 2%
GJ short @ 143.21 - 1%
E/C short @ 1.3547 - 2%
C/J short @ 93.08 - 2%
G/U added short @ 1.5407 - 1%
G/CHF (again ) short @ 1.6330 - 1%
short gold @ 1151.53 - 1%

Be back later on...
  • #172
  • Apr 15, 2010 6:26am Apr 15, 2010 6:26am
Exited GU shorts @ 1.5385 - support level.

CJ hit TP @ 92.94 - could have reversed for a long.
EJ both exited @ 126.14
Oil exited @ BE
E/A exited @ 1.4510
G/CHF exited @ 1.6306
Gold out @ BE
AJ out @ BE



G/J, A/N, U/C, E/C, E/U still in play

TAG now @ 199.84%
  • #173
  • Apr 15, 2010 6:34am Apr 15, 2010 6:34am
Quoting neutro
Those emotional impulses s*ck. I'm doing them for some time and I don't seem to get over them. But a journal sure helps. That and not having the terminal window opened and leaving a trade to do it's thing without checking on it every 5 min.
I am short EJ from 126.84, GJ from 143.77, Gu from 1.5461 and long UC from 9963 and 9968.

And i have no idea what my equity is, how much floating profit i have or how much i made while taking partial profits.

And it's really helping me holding on to my winning trades.
.
  • #174
  • Apr 15, 2010 6:36am Apr 15, 2010 6:36am
Quoting lovejoy80
Exited GU shorts @ 1.5385 - support level.

CJ hit TP @ 92.94 - could have reversed for a long.
EJ both exited @ 126.14
Oil exited @ BE
E/A exited @ 1.4510
G/CHF exited @ 1.6306
Gold out @ BE
AJ out @ BE



G/J, A/N, U/C, E/C, E/U still in play

TAG now @ 199.84%
Sorry LJ i was't paying attention to those figures.

You made 200% while risking 2% on each trade in two weeks?

Is that a real account?
.
  • #175
  • Apr 15, 2010 6:44am Apr 15, 2010 6:44am
Quoting nasir.khan
I am short EJ from 126.84, GJ from 143.77, Gu from 1.5461 and long UC from 9963 and 9968.

And i have no idea what my equity is, how much floating profit i have or how much i made while taking partial profits.

And it's really helping me holding on to my winning trades.
.
I find that defintely helps too...can the focus on trading the charts instead of trading the P/L.

Can you share why long UC from those levels?
  • #176
  • Apr 15, 2010 6:52am Apr 15, 2010 6:52am
Quoting nasir.khan
Sorry LJ i was't paying attention to those figures.

You made 200% while risking 2% on each trade in two weeks?

Is that a real account?
.
Yep...made nearly 200% in 8 trading days.

Yes, real accounts...I trade over three accounts on Oanda, fxPro and Alpari...not a big account (yet) but that's the aim.

you are better than me at entries and exits and spotting setups so I expect you to make more...yesterday and today must have made it a decent start to your first live week?

I record all trades and results in excell spreadsheet so I have one central place with all stats etc...attached is P&L graph for current close trades.

Had a quick look and win % is 67.5% if taking all trades but if not including trades which are part of an overall trade (i..e. going short E/U and adding positions and the last position is a loss but the overall net short position is a win then this is counted as win not loss) if taking these as net winners then win rate is 74.0%.

Biggest winner was 5.41R
Attached Image (click to enlarge)
Click to Enlarge Name: PnL_chart.png Size: 46 KB
  • #177
  • Apr 15, 2010 7:01am Apr 15, 2010 7:01am
Quoting neutro
Well, a little help is indeed needed.

I have it in Euros.
Thanks I'll take a look at this later
  • #178
  • Apr 15, 2010 7:02am Apr 15, 2010 7:02am
Quoting ogeid
I am also crap in calculating sizes. I can send you a very simple excel calculator (my girlfriend did it for me LOL!).

First fill in your total equity and your risk % (Green cells).

Then:

Select the pair clicking on the yellow scrolling cell.
Select the number of pips for your SL
It calculates automatically your position size.

Hope it helps.
Congratulation with your achievement.
Thanks for this
  • #179
  • Apr 15, 2010 7:13am Apr 15, 2010 7:13am
Quoting lovejoy80
Yep...made nearly 200% in 8 trading days.


Had a quick look and win % is 67.5% if taking all trades but if not including trades which are part of an overall trade (i..e. going short E/U and adding positions and the last position is a loss but the overall net short position is a win then this is counted as win not loss) if taking these as net winners then win rate is 74.0%.

Biggest winner was 5.41R
WOHW!!!!

You should buy yourself a pressy. Congratulation again.
I will definitely follow you closely.

If I can ask, in terms of pips which have been the max gain/drawdown?
I like to ask you because my tendency is to hold on too much on a trade.

Tx
  • #180
  • Apr 15, 2010 7:20am Apr 15, 2010 7:20am
Quoting lovejoy80
I find that defintely helps too...can the focus on trading the charts instead of trading the P/L.

Can you share why long UC from those levels?
http://www.forexfactory.com/showpost...ostcount=60897
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