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Razors Journal - Basic trading with PA at S/R

  • #401
  • May 13, 2010 4:03pm May 13, 2010 4:03pm
Quoting Razor_trader
Nice work.

Yeah I have been back at it off and on but now winter is setting in business quietens down so I have a little more free time. I try to update things around here but sometimes you just set a trade with a few bells and whistles that alert my mobile what is happening and by then most of the action has happened that I dont have time to update. Ohwell what can you do lol. I feel like I am starting to get back to some normality. This summer was a blur with most weeks working 6 days from dawn till dusk but that is the price I paid for wanting...
i dont much like winter,
yeah i guess running your own business would be hard work, especially when things are flat out and going well, so i can understand you probably look forward to winter in some way's.
Just on the bells and whistles, i got me one of thoses new fangled interweb Iphones a few weeks ago, man it is the best phone i have ever owned so far, i can check my Oanda trades from it, i run another charting package for charts as Oanda seems to be a bit behind the times when it comes to these things, they only offer a market order option, not limit orders as yet, and no charts.
can i ask how it is you are getting the bells and whistles to happen Razor???
i would love to be able to set alerts, that come to my Iphone.

As for the trades, they are running a bit , and have added to them this morning with new positions, not sure how they will go, but might look to take some profit a little earlier than the plan dictates,as we have already had a fair bit of movement, might be time for a little rest and re-test.

BTW your GBP trades made another nice little run down this morning.I love it when a plan comes together.

cheers
Geoff
  • #402
  • May 13, 2010 6:17pm May 13, 2010 6:17pm
Quoting geoffrod
i dont much like winter,
yeah i guess running your own business would be hard work, especially when things are flat out and going well, so i can understand you probably look forward to winter in some way's.
Just on the bells and whistles, i got me one of thoses new fangled interweb Iphones a few weeks ago, man it is the best phone i have ever owned so far, i can check my Oanda trades from it, i run another charting package for charts as Oanda seems to be a bit behind the times when it comes to these things, they only offer a market order option,...
I use Oanda also however have an account with GFT as they have the best charting package I know of. It is with this package that I can set alarms that send text messages to my phone at which point I can either return home or I can call and have an order execute or exitted. I am looking at getting a new blackberry which you can load the application for charting from GFT onto and you can do your trading via Mobile. As far as I know it seems to be sound.

And yes plans that come together make life that much easier. No stress with this trade and while i said I would let it run I took more profit this morning at the 250 pip mark. Nothing beats a smooth equity curve either but I also know that the GBP can do awesome things in a day aswell.

Take Care

Razor
  • #403
  • Edited 7:46pm May 13, 2010 6:32pm | Edited 7:46pm
Quoting Razor_trader
I use Oanda also however have an account with GFT as they have the best charting package I know of. It is with this package that I can set alarms that send text messages to my phone at which point I can either return home or I can call and have an order execute or exitted. I am looking at getting a new blackberry which you can load the application for charting from GFT onto and you can do your trading via Mobile. As far as I know it seems to be sound.

And yes plans that come together make life that much easier. No stress with this trade and while...
ah yes i remember GFT, i used to use them and now that you mention it i use to send messages to my mobile DOH!!!

nothin wrong with scrapping some of the cream off the top.

cheers
Geoff

edit:
just set that up, and it even works on demo
great stuff
  • #404
  • May 14, 2010 2:47am May 14, 2010 2:47am
Quoting geoffrod
ah yes i remember GFT, i used to use them and now that you mention it i use to send messages to my mobile DOH!!!

nothin wrong with scrapping some of the cream off the top.

cheers
Geoff

edit:
just set that up, and it even works on demo
great stuff
Nice, I should have mentioned everything you have live is also available on the demo, alarms included. I will say the only thing you need to be aware of (not sure how relevant it is today as I havent had a demo account with them for sometime) is there are times when the demo platforms data is skewed compared to the live. It is usually easily fixed with some refreshing, cleaning the storage folder and reloading, but in any case the alarm feature is a great sign. Once I get the blackberry I will let you know how it is.

Razor
  • #405
  • May 14, 2010 2:50am May 14, 2010 2:50am
Trade is up an nice and merry 330 pips in total. Account growth has now clear 21% which is a nice sign.

Razor
  • #406
  • May 14, 2010 3:15am May 14, 2010 3:15am
Short EUR/AUD based on the hourly DBHLC. Pair has been in a spiralling free fall for the past millenium so now should be a good time to have my arse handed too me lol.

Short 1.3986 SL about 50 pips away

Razor
Attached Image (click to enlarge)
Click to Enlarge Name: EUR AUD DBHLC.jpg Size: 95 KB
  • #407
  • May 14, 2010 3:51am May 14, 2010 3:51am
Quoting Razor_trader
Short EUR/AUD based on the hourly DBHLC. Pair has been in a spiralling free
Razor
Well spotted Razor. I just pipped in as well. I like those.
Gone to a better place
  • #408
  • May 14, 2010 9:12am May 14, 2010 9:12am
Quoting smikester
Well spotted Razor. I just pipped in as well. I like those.

Well I survive the GBP trade initially with my SL being missed by a handfull of pips and unfortunatly this trade got stopped out too the pip. What can you do. I still like it short but it is now looking to be heading into the weekend so I will see what opportunities are open for me on Monday. Damn that SL lol

Have a good weekend

Razor

BTW GBP trade is still up 300 pips so I can complain
  • #409
  • May 14, 2010 9:14am May 14, 2010 9:14am
Quoting Razor_trader
Well I survive the GBP trade initially with my SL being missed by a handfull of pips and unfortunatly this trade got stopped out too the pip. What can you do. I still like it short but it is now looking to be heading into the weekend so I will see what opportunities are open for me on Monday. Damn that SL lol

Have a good weekend

Razor

BTW GBP trade is still up 300 pips so I can complain
And also the TP for the 1/2 off fell a mere 3 pips short to add insult to injury
  • #410
  • May 14, 2010 9:30am May 14, 2010 9:30am
Quoting Razor_trader
Well I survive the GBP trade initially with my SL being missed by a handfull of pips and unfortunatly this trade got stopped out too the pip. What can you do. I still like it short but it is now looking to be heading into the weekend so I will see what opportunities are open for me on Monday. Damn that SL lol

Have a good weekend

Razor

BTW GBP trade is still up 300 pips so I can complain
Not too bad You have a good weekend too. I leave my gbp/usd shorts to run until I see a daily reversal. Dollar index is bullish. I am leaving USD/CAD to run also.
Gone to a better place
  • #411
  • May 16, 2010 8:13pm May 16, 2010 8:13pm
GBP trade still in play and has cracked the 400 pip mark
  • #412
  • May 16, 2010 9:40pm May 16, 2010 9:40pm
Quoting Razor_trader
GBP trade still in play and has cracked the 400 pip mark

nice work razor,
must be well over the 500 mark right now

im over 600 in a couple of g/j trades now amongst a few others as well

happy days
  • #413
  • May 16, 2010 10:34pm May 16, 2010 10:34pm
Quoting geoffrod
nice work razor,
must be well over the 500 mark right now

im over 600 in a couple of g/j trades now amongst a few others as well

happy days
Yep was up around 620 or so last I looked. I like the distance which is now some 650 pips from my SL. I am now just on the sidelines seeing what adjustments are to be make this week before looking for more southern action. All in all these trades make life I little simpler.

Nice work on the GJ results. I know a few who are onboard with trades that are now well past the 500 mark.

Razor
  • #414
  • May 16, 2010 11:37pm May 16, 2010 11:37pm
Quoting Razor_trader
Yep was up around 620 or so last I looked. I like the distance which is now some 650 pips from my SL. I am now just on the sidelines seeing what adjustments are to be make this week before looking for more southern action. All in all these trades make life I little simpler.

Nice work on the GJ results. I know a few who are onboard with trades that are now well past the 500 mark.

Razor
Thanks Razor,
you have greater resolve than me,
i have been trailing my trades with my stop (manually) as i still cant bear to see my at the moment 10% increase in my account from the trades i have running disappear to nothing, even though i know i have made money on the first half of the trade, ie 1:1, and i might add i take more than half off there as well, it still has an affect when those profits disappear.
i figure there is nothing wrong with taking some profit ie moving my stop.

cheers
Geoff
  • #415
  • May 17, 2010 1:38am May 17, 2010 1:38am
Quoting geoffrod
Thanks Razor,
you have greater resolve than me,
i have been trailing my trades with my stop (manually) as i still cant bear to see my at the moment 10% increase in my account from the trades i have running disappear to nothing, even though i know i have made money on the first half of the trade, ie 1:1, and i might add i take more than half off there as well, it still has an affect when those profits disappear.
i figure there is nothing wrong with taking some profit ie moving my stop.

cheers
Geoff
nothing wrong with that at all.
I have about 1/5 or so of the trade in play as i took profit along the way so i have pre secured profits and even if the trade runs backward i will still be up close to 22% in total (YTD).

In the end I am alittle more aggressive with taking profit as they occur because you cannot expect the big runners often so as such I take care of some profit at smaller amounts to help somewhat guarentee growth and when the big ones come then I will usually leave something aside. As it stands I have taken profit pretty much all the way to 400 pips and I will take off more if the market comes back to 400 however if it looks ripe to fall further (GBP/USD) then I will restrain from taking more profit until after the market has passed through 600-700 and then move that portion off to the 600 mark, hence trailing it in a way that you do but I still try to leave something in play and add to it with other positions.

If I have taken anything aside it is that 2000 pip moves do happen and the fact is that a small position can do just as good. It would be nice to be up 600 pips on full lots (in fact it would be very nice) however they are rare and the small positions are just as valuable in the lower realm as in the upper.

Razor
  • #416
  • Edited 4:49pm May 17, 2010 1:56am | Edited 4:49pm
Quoting Razor_trader
nothing wrong with that at all.
I have about 1/5 or so of the trade in play as i took profit along the way so i have pre secured profits and even if the trade runs backward i will still be up close to 22% in total (YTD).

In the end I am alittle more aggressive with taking profit as they occur because you cannot expect the big runners often so as such I take care of some profit at smaller amounts to help somewhat guarentee growth and when the big ones come then I will usually leave something aside. As it stands I have taken profit pretty...
i would much prefer to be able to take profit as you say you do, but to be able to achieve this using Oanda, i would have to split my trades even further, as it is if i have a trade i place 2 trades , 1 with 70% of my risk, and 1 with 30% of my risk, to do something close to what you do i would have to further split the 30% portion into maybe 10% lots, that would give me an extra 2 chances of taking some profit on that trade and still be able to leave the stop alone.this is assuming i have more than 1 trade on the same pair at 1 time, otherwise it would be just a matter of if i had originally sold, buying back portions on the way, but this doesn't happen a lot when you trade IB's, there is quite often more than 1 trade going at 1 time.

cheers
Geoff

Edit: Im flat all those trades now, such is the price for trailing so close, but i made a 7% gain out of them which is nothing to sneeze at.
I will from now one be splitting my trades even further so as to be able to leave stops in place and take bits of profit along the way, thanks for the inspiration to think a bit more about it Razor.

cheers
Geoff
  • #417
  • May 17, 2010 6:23pm May 17, 2010 6:23pm
To closure on the initial trade with the 400 pip mark being breached however had a short executed last night with an IB. Short GBP/USD 1.4465.
  • #418
  • May 18, 2010 6:26am May 18, 2010 6:26am
Quoting Razor_trader
To closure on the initial trade with the 400 pip mark being breached however had a short executed last night with an IB. Short GBP/USD 1.4465.
Got out profit at 1:1 before being Stopped out by a few pips. Had nice break down about an hour after execution. I am in short again with a BEOB on the hourly, just love this short at the moment. Risk on this trade is about 2%. It is currently lingering around the range of today however we only just broke yesterdays high with the BEOB so I am looking at that as weakness to the upside but time will tell.

Razor
  • #419
  • May 18, 2010 6:31pm May 18, 2010 6:31pm
I must say going to sleep with an active trade can be the best thing to avoid emotions. While I was quite certain that the BEOB that I traded yesterday was good it took a good while of being in the red before it happenened. I woke this morning to be up 140 pips on a FULL trade which is nice. I have now exitted 1/2 at this point and will see how the rest of the day pans out

Razor
Attached Image (click to enlarge)
Click to Enlarge Name: GBP Outside bar trade.jpg Size: 75 KB
  • #420
  • May 18, 2010 6:34pm May 18, 2010 6:34pm
Quoting Razor_trader
I must say going to sleep with an active trade can be the best thing to avoid emotions. While I was quite certain that the BEOB that I traded yesterday was good it took a good while of being in the red before it happenened. I woke this morning to be up 140 pips on a FULL trade which is nice. I have now exitted 1/2 at this point and will see how the rest of the day pans out

Razor
Just looking at the chart posted above there was also an IB that could have been traded later in the day or you could have taken the breakout and pullback of the range which would have worked out just as well and been good for 100+ pips.

Razor
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