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Amyc Trade Journal

  • #581
  • Jun 17, 2010 10:48pm Jun 17, 2010 10:48pm
Quoting UncagedEagle
Are those three accounts live or demo?
live, different strategies for different accounts
  • #582
  • Jun 17, 2010 11:14pm Jun 17, 2010 11:14pm
Quoting amyc
live, different strategies for different accounts
You started this thread in March. Did you start the live account that is up 950% in March as well? What are your money management and risk ratio rules if you don't mind my asking? Thanks
  • #583
  • Jun 17, 2010 11:20pm Jun 17, 2010 11:20pm
Quoting amyc
Hi uncaged eagle

Thanks for the comments. I am well ahead on the 2.5% a week goal. The markets were very kind to me in May, one account is up 950% another is up 50% and the third is up 30%. I will start to post the weekly amounts starting from August. I am going to be away for a month from next week so I can start from afresh when I get back.
You should become a MM. You do far better than some of the HF Managers that I have worked with. Actually, far better than any of the GS managers too. You have a real talent. Great stuff Amy
  • #584
  • Jun 17, 2010 11:23pm Jun 17, 2010 11:23pm
Quoting UncagedEagle
You started this thread in March. Did you start the live account that is up 950% in March as well? What are your money management and risk ratio rules if you don't mind my asking? Thanks
Those are my figures since the start of the year.

The account that is up 950% is an account where mm is loose to say the least. It has a much smaller amount of money than the other 2 accounts, and once a profit like that is made it is taken out and put in one of the other accounts. It is an account where I take trades that don't fit the strict criteria for the other accounts but I want anyway, an example this year is shorting the euro even when my charts didn't give a perfect entry. I have been shorting the euro since 1.45 in january which is why it has done so well.
The other thing I use the account for is practising on different markets, I don't use demo accounts.
I find it to be a very handy account, the key is to only leave in it an amount of money you are willing to lose.

In my other 2 accounts mm is very tight, I like very tight stops and large position sizes, average stop is around 10 pips and average win is around 100 pips.
  • #585
  • Jun 17, 2010 11:32pm Jun 17, 2010 11:32pm
Quoting Saxon
You should become a MM. You do far better than some of the HF Managers that I have worked with. Actually, far better than any of the GS managers too. You have a real talent. Great stuff Amy
Trading for yourself is easy, i'm not sure that I would do so well trading someone elses money.
  • #586
  • Jun 18, 2010 12:02am Jun 18, 2010 12:02am
AU is heading for next weeks green highs, I picked up some longs yesterday and today that I want to try and hold to that point. Once those highs are hit there should be a reversal down to the weekly lows. This can happen in the same week or it can move down and open the following week under the weekly pp and sell down into that weeks weekly lows. From there the next trend will be defined, it will either move up and do another 3 weeks up or move back to 81. The open on 1 July should clarify this move.
Attached Image (click to enlarge)
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  • #587
  • Jun 18, 2010 1:16am Jun 18, 2010 1:16am
Quoting amyc
Those are my figures since the start of the year.

I like very tight stops and large position sizes, average stop is around 10 pips and average win is around 100 pips.
With a 10 pips stop, are you using an STP, ECN or retail broker? When you say large position sizes, what is your percentage of account per single trade? If you looking at 100 pips swings, what TF are you using and what your average time holding a trade?
  • #588
  • Jun 18, 2010 1:37am Jun 18, 2010 1:37am
Quoting UncagedEagle
With a 10 pips stop, are you using an STP, ECN or retail broker? When you say large position sizes, what is your percentage of account per single trade? If you looking at 100 pips swings, what TF are you using and what your average time holding a trade?
I have accounts with both ecn and retail. The way I look at money management is I say when I win I want to get the most I possibly can, so to do that I need to trade as many contracts as possible. So say you decide you are willing to risk 1% of your account per trade then every single trade you take will either result in a 1% loss or a profit of an unknown amount.

(My sl amount is much less than 1%. I could probably increase it but I know how easy it is to have a bad day and suddenly 5% of your account would be gone at 1%.)

Once you've chosen an entry then you need to chose a stop loss that is as tight as possible so that you can buy the largest amount of contracts you can get for 1%.

The only important number when you trade is the win/loss ratio, ie how much you win when you win and how much you lose when you lose. If you can get this number above 5 then it is almost impossible to be a losing trader unless your entries are consistently bad.

Doing it this way I take a lot of small losses, over the course of the year I average around 50% winners. But if each time you win you make 5 times what you lose then that is a very good outcome.

I trade mostly off the daily timeframe which is how I manage to make the average win so big. One account is for trades that are held for 1-5 days and the other is for those with monthly targets.
  • #589
  • Jun 18, 2010 1:43am Jun 18, 2010 1:43am
Hi Amy,

how long have you been forex right since demo if i can ask?

thks

Quoting amyc
I have accounts with both ecn and retail. The way I look at money management is I say when I win I want to get the most I possibly can, so to do that I need to trade as many contracts as possible. So say you decide you are willing to risk 1% of your account per trade then every single trade you take will either result in a 1% loss or a profit of an unknown amount.

(My sl amount is much less than 1%. I could probably increase it but I know how easy it is to have a bad day and suddenly 5% of your account would be gone at 1%.)

Once you've chosen...
  • #590
  • Jun 18, 2010 1:48am Jun 18, 2010 1:48am
Quoting coolshades
Hi Amy,

how long have you been forex right since demo if i can ask?

thks
I have been trading forex for 1 year, I went straight to live. I learnt to trade on index futures. I started in 2007 and spent all of that year and most of 2008 giving the market my money. I have it all back now though.
  • #591
  • Jun 18, 2010 2:50am Jun 18, 2010 2:50am
Quoting amyc
I have been trading forex for 1 year, I went straight to live. I learnt to trade on index futures. I started in 2007 and spent all of that year and most of 2008 giving the market my money. I have it all back now though.
Very impressive and very motivating Amy!

I totally agree with you to keep losses small and let profits run. However, it is easy to say this than to do it. I've violated this rule twice and those two times cost me more than half of my account size!

We will definitely miss your posting whilst you're away!
Enjoy your holiday!
  • #592
  • Jun 18, 2010 2:56am Jun 18, 2010 2:56am
Quoting GoldenGold
I've violated this rule twice and those two times cost me more than half of my account size!

We will definitely miss your posting whilst you're away!
Enjoy your holiday!
I know I am very aware that over confidence in a direction could be my downfall. I have said to my husband that if he sees a loss in my accounts that is bigger than acceptable he is allowed to close it, I leave everything open all the time so he sees what I am doing. Hopefully that will stop me from putting my head in the sand over a position.

Thanks will do. I am taking my charts though so I might post from time to time.
  • #593
  • Jun 18, 2010 5:39am Jun 18, 2010 5:39am
Quoting amyc
I know I am very aware that over confidence in a direction could be my downfall. I have said to my husband that if he sees a loss in my accounts that is bigger than acceptable he is allowed to close it, I leave everything open all the time so he sees what I am doing. Hopefully that will stop me from putting my head in the sand over a position.

Thanks will do. I am taking my charts though so I might post from time to time.
Enjoy your holiday, Amy!
Thanks for answering my questions here in FF!
  • #594
  • Jun 18, 2010 6:10am Jun 18, 2010 6:10am
thats extremely impressive.

if i am not wrong, it takes a good 3-4 years for the average trader (the ones with a full time job) to be consistently profitable. there are those who do it in fewer years and there are those who take longer, but most i have interacted with talk about a 3-4 year cycle.

you are truly exceptional.

Quoting amyc
I have been trading forex for 1 year, I went straight to live. I learnt to trade on index futures. I started in 2007 and spent all of that year and most of 2008 giving the market my money. I have it all back now though.
  • #595
  • Jun 18, 2010 6:14am Jun 18, 2010 6:14am
Quoting epeks
Enjoy your holiday, Amy!
Thanks for answering my questions here in FF!
Thanks epeks, I'm still here till Thursday next week so a few more days to go yet.
  • #596
  • Jun 18, 2010 6:17am Jun 18, 2010 6:17am
Quoting coolshades
thats extremely impressive.

if i am not wrong, it takes a good 3-4 years for the average trader (the ones with a full time job) to be consistently profitable. there are those who do it in fewer years and there are those who take longer, but most i have interacted with talk about a 3-4 year cycle.

you are truly exceptional.
I have been trading full time since 2009 so I probably have more screen hours than those with a job. So it probably works out about the same. Thanks for your kind words though.
Also currencies move the same as index markets so the learning curve was not steep when I started with them 1 year ago.
  • #597
  • Jun 19, 2010 1:53pm Jun 19, 2010 1:53pm
Quoting amyc
I have accounts with both ecn and retail. The way I look at money management is I say when I win I want to get the most I possibly can, so to do that I need to trade as many contracts as possible. So say you decide you are willing to risk 1% of your account per trade then every single trade you take will either result in a 1% loss or a profit of an unknown amount.
That is great. I've been experimenting with something similar in demo but haven't perfected it enough to try it in my live yet. Amy, do you notice any difference between your ecn broker and your retail broker in regards to your stops being taken out (or slippage, freezes or requotes)? In other words, do you have more losers in your retail account than your ecn account? Seldom do I have the fortune of running across a trader that uses both retail and ecn at the same time, so its nice to get an unbiased opinion on this very controversial topic. Thanks
  • #598
  • Jun 19, 2010 10:18pm Jun 19, 2010 10:18pm
Hi Uncaged eagle

I don't believe that retail brokers stop hunt, bc my stops are so tight at least once a week I wake up to find that my stop was missed by a fraction of a pip over night. Very rarely do I get taken out and then the trade continues in my direction. If I am taken out it's usually bc I am wrong.
Also if I saw that my retail broker had spiked the price lower than the what the actual price was then I would load up on longs and I suspect i would not be the only one doing that. I don't think that it would be in the financial interests of the broker to do that just to take out a few retail stops.
If a broker didn't want you as a customer then they might make it hard for you to get a fill, I have heard of that happening.

As far as slippage or requotes goes make one of your accounts a fixed spread broker. I have some money in a fixed spread cfd account, I can put orders in to buy or sell a breakout during news and have never had anything but a perfect fill. (I don't regularly trade news but sometimes it coincides with where I want my entry to be).
  • #599
  • Jun 19, 2010 10:32pm Jun 19, 2010 10:32pm
AU will continue up into 8763 this week. After that bc it will have done 3 weeks up the probability of a retrace to the weekly lows becomes high. That means that if it hits 8763 on Monday it could sell down to 8538 by later in the week or it could consolidate then drop the week after.
It could also continue straight up but I will be exiting my longs.
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  • #600
  • Edited Jun 20, 2010 12:47am Jun 19, 2010 10:38pm | Edited Jun 20, 2010 12:47am
EU should continue up into at least 1.2456 this week. I think first though it should pullback towards the weekly pp. I will be looking for a long in this area to trade up.

I think that the EU retrace should continue up into July before the next major swing down occurs. This is because when price moves off the monthly lows (yellow), then opens the next week above the weekly pivot point this normally sees price up into next months highs.
Attached Image (click to enlarge)
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