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go live or bust ... diary of an fx live-trader-wannabe

  • #1,441
  • May 5, 2010 7:53pm May 5, 2010 7:53pm
planned to take the N/U as a swing trade. completely missed the entry b/c i 1) failed to set an alarm for an early entry & 2) failed to set-up a back-up entry off the daily chart ... price shut up after rate announcement ...

still watching the U/J
"Believe nothing you hear and half of what you see." Proverb
  • #1,442
  • May 6, 2010 12:36am May 6, 2010 12:36am
im in another. no confidence again (this seems to be a chronic condition with me) ... presently up 20 pips ...
"Believe nothing you hear and half of what you see." Proverb
  • #1,443
  • May 6, 2010 1:15am May 6, 2010 1:15am
Quoting fxgrinder
im in another. no confidence again (this seems to be a chronic condition with me) ... presently up 20 pips ...
i have issues ... banked another 1% on 1/2 position. SL to b/e. we'll see if london goes for more.
"Believe nothing you hear and half of what you see." Proverb
  • #1,444
  • May 6, 2010 1:24am May 6, 2010 1:24am
Quoting fxgrinder
i have issues ... banked another 1% on 1/2 position. SL to b/e. we'll see if london goes for more.
i took another 1/2 off ... trade is locked in at yesterday's low & im up 1.8% on this trade. last stop 2750.

boy am i glad i decided to postpone going live until after NFP week! :-P
"Believe nothing you hear and half of what you see." Proverb
  • #1,445
  • May 6, 2010 1:36am May 6, 2010 1:36am
Quoting fxgrinder
haha, joke's on me. dropped another 75 pips.
(G/J trade) ... im up 200 pips. what a week. this is doing wonders for my confidence.
"Believe nothing you hear and half of what you see." Proverb
  • #1,446
  • May 6, 2010 1:38am May 6, 2010 1:38am
Quoting fxgrinder
i took another 1/2 off ... trade is locked in at yesterday's low & im up 1.8% on this trade. last stop 2750.

boy am i glad i decided to postpone going live until after NFP week! :-P
this could have something to do w/ the bombing in Athens & the strikes too, but i really dont know.
"Believe nothing you hear and half of what you see." Proverb
  • #1,447
  • May 6, 2010 1:59am May 6, 2010 1:59am
Quoting fxgrinder
i took another 1/2 off ... trade is locked in at yesterday's low & im up 1.8% on this trade. last stop 2750.
bailed at 2755. it's still dropping.

im up 7.2% for week.
"Believe nothing you hear and half of what you see." Proverb
  • #1,448
  • May 6, 2010 2:38pm May 6, 2010 2:38pm
Quoting fxgrinder
(G/J trade) ... im up 200 pips. what a week. this is doing wonders for my confidence.
made it to my target of 140.00 ... LOL ... a pittance compared to what happened this morning.
"Believe nothing you hear and half of what you see." Proverb
  • #1,449
  • May 6, 2010 2:39pm May 6, 2010 2:39pm
Quoting fxgrinder
still watching the U/J
just used the standard entry off the daily charts. thing tanked over night. woke up and found 300 pips in my account & closed it out.

oanda crashed shortly thereafter & i have no idea what my balance is.
"Believe nothing you hear and half of what you see." Proverb
  • #1,450
  • May 6, 2010 2:49pm May 6, 2010 2:49pm
Quoting fxgrinder
just used the standard entry off the daily charts. thing tanked over night. woke up and found 300 pips in my account & closed it out.

oanda crashed shortly thereafter & i have no idea what my balance is.
alright, im up 38.4% on my swing trades since the 8th. $384.39 on a $1000.00 account in just under a month. nothing fancy. not highly leveraged (oanda only allows 50:1 max), not over-analyze or overtrade and no more than 2% risked per trade. go figure.
"Believe nothing you hear and half of what you see." Proverb
  • #1,451
  • May 6, 2010 2:53pm May 6, 2010 2:53pm
not sure what this market's going to be like now.

no daily trades for me for sure today and my intraday EU is likely to be sideways. i also wonder how great my first live week will be after a week like this so im torn about going live into a potentially ranging market.
"Believe nothing you hear and half of what you see." Proverb
  • #1,452
  • May 7, 2010 2:28am May 7, 2010 2:28am
Quoting fxgrinder
not sure what this market's going to be like now.
acted like NY ... i stuck to the plan of my exercise of pulling the trigger even tho i expected it to be a total disaster (pre-NFP & post-massive-selloff) ... and, it certainly did not disappoint in the disaster department. (and it was pulling the trigger, not the win/lose numbers was the goal tonite, altho, i do have a twinge of regret seeing an end to a beautiful week of trading.)

despite taking the losses tonite in the pull the trigger exercise, i learnt some things & i am still moving forward w/ my plan to go live next week.

fingers crossed.
"Believe nothing you hear and half of what you see." Proverb
  • #1,453
  • May 9, 2010 5:50pm May 9, 2010 5:50pm
starting the week off w/ a gap fill in EU on demo. demo b/c it's not a true gap fill as the market began moving from where it left off on friday around 11am today as shown on my oanda account.

have also entered a swing trade on the G/U off the daily pin (also demo). much speculation about not being viable due to friday closing activity, but it's hard not to attempt this one. w/ proper MM, im only risking 2% so what the heck.

i am watching and waiting for an opportunity to begin my live trading using my E/U intraday strategy. am i scared. naaa. piece of cake right? ;-)
"Believe nothing you hear and half of what you see." Proverb
  • #1,454
  • Edited 1:18am May 10, 2010 1:03am | Edited 1:18am
first day of live trading is a win. no trades. no lost money. LOL (there was a potential set-up, but i completely blanked on it)

seriously, there just wasn't any set-ups. the 2 trades i demo'd were losers.
"Believe nothing you hear and half of what you see." Proverb
  • #1,455
  • May 10, 2010 1:51pm May 10, 2010 1:51pm
Quoting fxgrinder
first day of live trading is a win. no trades. no lost money. LOL (there was a potential set-up, but i completely blanked on it)

seriously, there just wasn't any set-ups. the 2 trades i demo'd were losers.
who knows why i blanked on these, but i did. have to overcome a whole new fear of losing.
Attached Image (click to enlarge)
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"Believe nothing you hear and half of what you see." Proverb
  • #1,456
  • May 11, 2010 1:43am May 11, 2010 1:43am
well, im live. a fellow trader friend of mine suggested i trade pennies on my live account starting out to break myself in (i told him about my blanking out on the charts last nite) ...

so, im trading pennies instead of 1-2% risk.

turns out, pulling the trigger was a breeze tonite. raced down to my 1/2 position (40 pips), SL to b/e ... target 2600-ish.

i didn't even bother to look at it ... truth be told, i twisted my ankle & i am forced to stay on the couch so i cant watch my trades & goof things up.
"Believe nothing you hear and half of what you see." Proverb
  • #1,457
  • May 11, 2010 5:26pm May 11, 2010 5:26pm
Quoting fxgrinder
turns out, pulling the trigger was a breeze tonite. raced down to my 1/2 position (40 pips), SL to b/e ... target 2600-ish.

i didn't even bother to look at it ... truth be told, i twisted my ankle & i am forced to stay on the couch so i cant watch my trades & goof things up.
this trade is still running & at 100+ pips. SL has been trailed to prior target. looking next for 2587 ... new target 2462. think i will keep trailing this in stages as price runs down.

missed a re-entry at 11am, but my foot is a mess & it's making it a bit more challenging to get over to the desk for the alarms or to check the charts.
"Believe nothing you hear and half of what you see." Proverb
  • #1,458
  • May 11, 2010 5:27pm May 11, 2010 5:27pm
my EU, EJ, & GU swing/daily trades still running & have 3 new trades entered for the GJ, AU, & UCAD.
"Believe nothing you hear and half of what you see." Proverb
  • #1,459
  • May 13, 2010 9:40pm May 13, 2010 9:40pm
Quoting fxgrinder
my EU, EJ, & GU swing/daily trades still running & have 3 new trades entered for the GJ, AU, & UCAD.
EU was closed after nearly hitting my target.
EJ still running & in the black
GU still running & in the black
GJ hit my target
AU is in the red
UCAD never triggered, but i manually entered today

i have a limit order placed for the UJ today
"Believe nothing you hear and half of what you see." Proverb
  • #1,460
  • May 13, 2010 9:44pm May 13, 2010 9:44pm
something terrible happened to my trading partner & friend yesterday so i only played one set-up & blitzed on the second. same thing happened this morning. hoping to get my concentration back.

has been a very strange week to initiate live trading.
"Believe nothing you hear and half of what you see." Proverb
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