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Buildcity's Trading Journal

  • #1,261
  • Dec 2, 2010 9:53am Dec 2, 2010 9:53am
Again, took several plays only today, the DB on EU saved me in BE status.

No more play, go to my reading section.

Good night.
Eric
  • #1,262
  • Dec 2, 2010 10:13am Dec 2, 2010 10:13am
Quoting Buildcity
Chinese word? Thanks for the visiting
An attempt, at least

Great journal, keep it up.
  • #1,263
  • Dec 2, 2010 10:28am Dec 2, 2010 10:28am
Quoting Buildcity
Nothing to do in lunch break, caught small 8 from AU.

Entry is not good, SL set right below the bottom support, so waited for bit longer, it didnt break then let go.

PS - the market is so slow, switch down to M5 for minor wave
hmm.. did you enter on close of that IB(agressive play)?
  • #1,264
  • Dec 2, 2010 10:30am Dec 2, 2010 10:30am
Quoting Buildcity
I read once half year before, one of my best mates here gave it to me, but it is in english so bit hard for me. Now the one I got is in chinese version and I can get more understanding.

My trading now is rather slow and look forward to improve my skill by next yr while I finish this book together with other ebooks on my reading list, all related to price action trading, wooooow........ I'm really die hard to trade in this way.

Happy trading Rufus

Eric
sounds goood
can you share that price action related books' list with us?
  • #1,265
  • Dec 2, 2010 10:32am Dec 2, 2010 10:32am
Quoting Gravi
hmm.. did you enter on close of that IB(agressive play)?


plus the r/n stop, look little left, you find a resistance too
  • #1,266
  • Dec 2, 2010 10:38am Dec 2, 2010 10:38am
Quoting Gravi
sounds goood
can you share that price action related books' list with us?
Plenty of good articles form this guy (at least for me), and many of them really make sense to me.

PS - not a commercial promotion.
http://www.yourtradingcoach.com/
  • #1,267
  • Dec 2, 2010 8:38pm Dec 2, 2010 8:38pm
1st trade AU took +8 1st half, 2nd half BE +1;

Asian Market is slow, so switch down to M5, of course still marked the s/r zone from HTF off.

Now focus on AU and EJ, 2 pairs during Asian session

PS - again, off work today to clear annual leave, so I can be so relax to play while reading, if there is a chance, go for it, if no, just reading my books.
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  • #1,268
  • Dec 2, 2010 11:05pm Dec 2, 2010 11:05pm
1st half realised at 6 since the market is too slow;
2nd SL out with +3
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  • #1,269
  • Dec 2, 2010 11:08pm Dec 2, 2010 11:08pm
Its really quite hard for scalping during Asian session, especially tons of major news today...........

Well, play calm is the key...
  • #1,270
  • Dec 3, 2010 12:04am Dec 3, 2010 12:04am
2 long trades,

1st + 7; not a good entry though; closed while the daily high is approaching.
2nd +9; entry for this one cos a good support is right below
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  • #1,271
  • Dec 3, 2010 12:10am Dec 3, 2010 12:10am
will be back around London opening, see you

PS - daily target achieved, hereafter bonus portion
  • #1,272
  • Dec 3, 2010 2:41am Dec 3, 2010 2:41am
Quoting Buildcity


plus the r/n stop, look little left, you find a resistance too
later you told you were trying to be not agressive... you would like to wait for deeper retracement... but that was agressive ib play... ))))
  • #1,273
  • Dec 3, 2010 2:42am Dec 3, 2010 2:42am
Quoting Buildcity
Plenty of good articles form this guy (at least for me), and many of them really make sense to me.

PS - not a commercial promotion.
http://www.yourtradingcoach.com/
Thanks man!!
  • #1,274
  • Dec 3, 2010 3:30am Dec 3, 2010 3:30am
Quoting Gravi
later you told you were trying to be not agressive... you would like to wait for deeper retracement... but that was agressive ib play... ))))
something deep in your heart cant change
  • #1,275
  • Dec 3, 2010 3:31am Dec 3, 2010 3:31am
This is the offer from Oanda, during UK's services PMI
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  • #1,276
  • Dec 3, 2010 3:35am Dec 3, 2010 3:35am
Those news are just keep coming, no much room to play.........
  • #1,277
  • Dec 3, 2010 5:28am Dec 3, 2010 5:28am
Hi Eric,

Thanks for this wonderful Journal. I am regular visitor of your's & Sho's thread, although I don't post much.

Just curious to know what's your risk (in percentage) per trade and how much 30 Pips per day (in percentage) adds to your account.

Thanks,

Alifari
The purpose of knowledge is action, not knowledge
  • #1,278
  • Edited 7:27am Dec 3, 2010 7:11am | Edited 7:27am
Quoting alifari
Hi Eric,

Thanks for this wonderful Journal. I am regular visitor of your's & Sho's thread, although I don't post much.

Just curious to know what's your risk (in percentage) per trade and how much 30 Pips per day (in percentage) adds to your account.

Thanks,

Alifari
Hi mate,

Honest, I dont count much on the risk (in %) of a/c size. May be put it this way, it depends on the leverage offers by my broker.

Say my ECN one, which offers 50:1 now so I would play in conservative way; as long as I know my max SL is cover well (i.e. dont get margin call, haha) and the a/c size is good enough for me to play 5 trades (including the max loss) in one time (normally not!!)

#1 - say it cost me $250 margin for 1 trade, and $1/pip in average, then each trade I am investing 250+20 (my max SL) = $270, so my a/c size is min. at 270 x 5, so you can count what the risk size I am.

Stop trading if 3 max loss in a row!! do something else, or at least cut down your lot size to 50%, until you build up your confident back. But option 1 is always prefer.

For broker with higher leverage (this one I used to test differnet strategy), I usually can play in more aggressive way base on my rules above, cos the margin requirement is a lot smaller.

Your 2nd question, I've been tried $1/pip ~ $4/pip, I can really calm to play in $1 to $2/pip, more than that I still cant control my emotion at the moment. So I'm now slow down this increment, say $1, then $1.2, then 1.4 and so on in parallel with the a/c growth. This approach applicable to mini a/c broker cos lot size is much more flexible.

But now I normally play $1/pip (much smaller when I play with Oanda cos this a/c is still in testing status), I want to put more time to study prior to next yr, keep my trading equity in safe.

Hope this help.

PS - my play is quite risky, you guys should stick to 1 to 2% a/c size for each trade.
  • #1,279
  • Dec 3, 2010 7:50am Dec 3, 2010 7:50am
Tell you what, dont trade with Oanda when there is major news, such as announcement of US unemployment rate, you simply cant access to its server
  • #1,280
  • Edited 9:15am Dec 3, 2010 9:14am | Edited 9:15am
Eric,

Thanks for your reply.

My Win Rate is about 65% and I am expermenting different money management techniques in terms of Risk/Reward, such as taking half off once price is 7 pips in profit and instead of moving stop loss to break even, I set it to -7 pips. As I observed lot of time price retrace to atleast 50 to 60 percent of previous candle (which is one's entry point) considering spread and slippage. This technique gives our entry little breather and chance for big runner. If price come back and hit our stop loss then still its a breakeven trade.

Just wanted to share my view.

Thanks,

Alifari
The purpose of knowledge is action, not knowledge
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