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Attachments: My One Percent Per Day Trading Journal
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My One Percent Per Day Trading Journal

  • #21
  • Apr 4, 2011 7:11am Apr 4, 2011 7:11am
I've taken 40 Pips profit so far, and will update at the end of the day today with my tracking spreadsheet.
  • #22
  • Apr 4, 2011 7:12am Apr 4, 2011 7:12am
Quoting Dreamliner
I've taken 40 Pips profit so far, and will update at the end of the day today with my tracking spreadsheet.
alright,well done !
Hero calls followed by margin calls...
  • #23
  • Apr 4, 2011 8:57am Apr 4, 2011 8:57am
Dreamliner

I have been trading your Going Home strategy for two months now with good success and intend to carry on with it. Really fits in with my style. If what you're using now is of a similar nature then I will be very interested.

Wishing you great success.

Z

(subscribed)
  • #24
  • Apr 4, 2011 8:58am Apr 4, 2011 8:58am
Quoting Dreamliner
I've taken 40 Pips profit so far, and will update at the end of the day today with my tracking spreadsheet.
Nice for first day
EKO
  • #25
  • Apr 4, 2011 12:30pm Apr 4, 2011 12:30pm
Z, this is great to hear, I know a lot of people are doing real well with that.

This is a different system that I found on the Internet through a search (it was literally on page 24, the guy doesn't hype ) and I fell in love with the system.

Quoting Zr-fx
Dreamliner

I have been trading your Going Home strategy for two months now with good success and intend to carry on with it. Really fits in with my style. If what you're using now is of a similar nature then I will be very interested.

Wishing you great success.

Z

(subscribed)
  • #26
  • Apr 4, 2011 12:43pm Apr 4, 2011 12:43pm
Quoting Dreamliner
Z, this is great to hear, I know a lot of people are doing real well with that.

This is a different system that I found on the Internet through a search (it was literally on page 24, the guy doesn't hype ) and I fell in love with the system.
Interesting. Any more details available?
  • #27
  • Edited 1:07pm Apr 4, 2011 12:44pm | Edited 1:07pm
Greetings all,

I assure you this is no April Fool's joke, I absolutely have no time for those.

What I wanted to share with you today is how this system works regarding balance and equity. While balance continues to go up in a nice line, equity is up and down, while over time making its way up.

The tide patterns in the world oceans are showing a steady increase over time, so imagine an island in the ocean: even though the tide comes in and goes out every 12 hours, overall the tide is increasing and will begin to slowly cover the island.

Our balance is always going to increase (I'm now up 84 pips) while our equity "breathes." The reason this is important is because, depending on where I jumped in with this system, equity could go up or down. This system requires time to show the steady increase of equity.

I have attached a chart that I drew by hand to represent this. Let's say each point (A, B, C, D, etc.) is a day's worth of trading, and let's say that I got into this system live at point C. Wow, the very next day my equity tanks, and if I am like most traders, I immediately get out of this system and tell everyone how it does not work. Whereas if I get in live at point D I will think this is the best system ever invented by man .

The point is that equity goes up and down (Dr. Zeus understands this well as his system does similar).

Another point I want to make is that I have mis-titled this thread; it should not be 1 percent per day, because each person will use more or less leverage than someone else. One person can make 1 percent per day on 10 pips, another can only make a quarter of one percent per day on 100 pips (due to the differences in stop losses, risk management, leverage, etc.).

So the only thing that really matters, in my opinion is number of pips per day. One person will crank up the leverage and make 2 percent per day, another more conservative trader will lower the leverage and make a half percent per day, all on the same number of pips.

So the name of this thread is wrong and I would change it if I knew how. The inventor of it makes an average of 186 pips per day (I've made 84 so far today).
Attached File(s)
File Type: doc Balance and Equity.doc   28 KB | 1,091 downloads
  • #28
  • Apr 4, 2011 1:17pm Apr 4, 2011 1:17pm
Dreamliner...

will you ever explain the system or point people where you found the system?

I think this is what traders are waiting for.... :-)
Market is like a puzzle, YOU have to fit the pieces!!
  • #29
  • Edited 1:52pm Apr 4, 2011 1:51pm | Edited 1:52pm
Chris, this thread is really just for my accountability. In the past I have found (or made) a good system, but did not trade it in a disciplined manner and ended up blaming the system. I figured if I start a public journal it will help to keep me stay consistent and disciplined.

Had I wanted to divulge the system publicly I would have started this in the "Trading System" section, as people have a right to expect the divulging of the system in that section. This is just a journal thread.

I have, on occasion, given out the website through PM if people have asked, but only if I thought they were just going to use it for themselves. I really have detested people in the past who have pointed people off of Forex Factory to something that costs money and I don't want that to happen here (even though I am not the inventor of this method--the website is not mine).

Quoting Chris_B
Dreamliner...

will you ever explain the system or point people where you found the system?

I think this is what traders are waiting for.... :-)
  • #30
  • Apr 4, 2011 3:10pm Apr 4, 2011 3:10pm
Dreamliner,

I think your missing a big part of what the Forex factory is all about.

If your just going to use it to advertise about the amount of pips your making or losing daily whilst nobody has a got a clue about the system your using, I'm afraid you'll probably end up annoying a lot of traders and newcomers who are confused enough as it is.

I've read a lot of your contributions on your threads and have learnt a lot from them, they've been extremely positive.

I don't think it's time to play games with people.
  • #31
  • Apr 4, 2011 3:25pm Apr 4, 2011 3:25pm
There are very clear rules of forexfactory.
One can not post or in any way advertise about a commercial system.
(Or your whole thread gets moved to the commercial section)
The system that Dreamliner is trading is not one that he invented himself.
For him to explain the system would be

1/ against forexfactory rules
2/ revealing the intellectual property of the person who invented the system.

Dreamliner has provided tons and tons of valuable input here on Forexfactory, just read through all the posts he has made.

This is his journal to keep himself on the straight and narrow.
(If you publicly share your trades, you will be less inclined to delude yourself)

He CANNOT reveal this system.
I am certain he did not mean to be coy when he started this thread.

PGPB
  • #32
  • Edited 4:46pm Apr 4, 2011 4:43pm | Edited 4:46pm
I think you are misunderstanding the purpose of the journal thread, or are possibly confusing it with the Trading System threads. I have purposefully opened this in the journal thread, that is not playing games. You have the option of reading or running; either way feel free to do whichever you think best. But negative posting like this will be quickly banned from this thread.

Quoting Eamonn
Dreamliner,

I think your missing a big part of what the Forex factory is all about.

If your just going to use it to advertise about the amount of pips your making or losing daily whilst nobody has a got a clue about the system your using, I'm afraid you'll probably end up annoying a lot of traders and newcomers who are confused enough as it is.

I've read a lot of your contributions on your threads and have learnt a lot from them, they've been extremely positive.

I don't think it's time to play games with people.
  • #33
  • Apr 4, 2011 4:46pm Apr 4, 2011 4:46pm
Thank you pgpb, you are 100 percent correct here. My objective is not to advertise a system but to provide accountability in my trading, hoping the public viewing will help maintain discipline and consistency. This is a very valuable part of Forex Factory.

I have not hesitated to reveal to my friends the website where I got the system, but as you said I cannot and will not advertise it publicly.

Quoting pgpb
There are very clear rules of forexfactory.
One can not post or in any way advertise about a commercial system.
(Or your whole thread gets moved to the commercial section)
The system that Dreamliner is trading is not one that he invented himself.
For him to explain the system would be

1/ against forexfactory rules
2/ revealing the intellectual property of the person who invented the system.

Dreamliner has provided tons and tons of valuable input here on Forexfactory, just read through all the posts he has made.

This is his journal to keep himself...
  • #34
  • Apr 4, 2011 6:49pm Apr 4, 2011 6:49pm
Today I have gained 84.20 pips total on two currencies (of course the day is not over and more could be coming). I was going to post my spreadsheet, but there is no need as it requires the first trade listed to close before providing any statistics, and the first trade listed is still open.

It is not like people can't gain 84 pips in a day (although you must admit today was slow on most pairs) it is that it took me literally 10 minutes to do, and 5 of that was recording the trades in my spreadsheet. No screen time, no direction picking, no opening-of-some-session trading, no hope trading. Just mathematical and statistical trading.

One important tip in trading, that I have finally learned, is to not chase pips around the screen; meaning following lagging indicators simply does not work. I read once where it has been proven that no indicator provides any statistical advantage to trading whatsoever. Whether that is true or not I do not know, but it has certainly proven true in my own experience.

I hope you all grew your account today.
  • #35
  • Apr 5, 2011 7:54am Apr 5, 2011 7:54am
Greetings all,

Well last night's trading was wonderful. I woke up to find a total of 386.4 pips in my account.

Again the spreadsheet is not updating due to the first pair on the list having not closed yet. I have written to the developer of the spreadsheet and asked him to make the spreadsheet update regardless of whether or not the first trade has closed, let's see what he will say.

As I mentioned earlier, our balance will always go up with this method, but in trading what we are really interested in is equity. Equity is the net of all trades open and closed. As I told you earlier, with this system, balance goes up in a straight line whereas equity bounces around and lags behind the balance.

All that to say, this method must be given time for equity to follow the balance.

Will update again at the close of the day today, and hopefully with the spreadsheet this time.
  • #36
  • Apr 5, 2011 8:00am Apr 5, 2011 8:00am
Quoting Dreamliner
Greetings all,

Well last night's trading was wonderful. I woke up to find a total of 386.4 pips in my account.

Again the spreadsheet is not updating due to the first pair on the list having not closed yet. I have written to the developer of the spreadsheet and asked him to make the spreadsheet update regardless of whether or not the first trade has closed, let's see what he will say.

As I mentioned earlier, our balance will always go up with this method, but in trading what we are really interested in is equity. Equity is the net of all...
sounds pretty cool.
would like to hear more about ur system and especially some example trades

jonas
Hero calls followed by margin calls...
  • #37
  • Apr 5, 2011 4:41pm Apr 5, 2011 4:41pm
As you know, I am trading this system live, but I started with very low lot sizes because I wanted some experience in trading this before increasing lot size. I'm glad I started small. Here is what I learned.

I had a couple of trades hit stop losses today. Of course, this is normal, but I noticed that those trades (especially the GBP/JPY trade) took much more out than I was expecting. I discovered my error. I had a specific Lot Size (unit size in Oanda) set to make each trade with. However, 10,000 units of EUR/USD is not the same, monitarily, as 10,000 units of GBP/JPY. Now I have known this before, but did not take it into account when beginning live with this method.

So I have made 77 pips total since starting, but my account is approximately $1.00 less than when I began. This is due to the improper lot sizing, as normally a 77 pip profit should equal a money profit .

So, I have selected the lot sizes appropriately in Oanda now, and am starting over right now. I'm just not going to count those positive 77 pips but start fresh.

I also got a brand new spreadsheet from the developer so I'll be able to post that along with total pips on Friday this week.

I suppose I'll always be learning something in this Forex business. That's one of the reasons I like it so much. Don't you?
  • #38
  • Apr 5, 2011 4:47pm Apr 5, 2011 4:47pm
Quoting Dreamliner
As you know, I am trading this system live, but I started with very low lot sizes because I wanted some experience in trading this before increasing lot size. I'm glad I started small. Here is what I learned.

I had a couple of trades hit stop losses today. Of course, this is normal, but I noticed that those trades (especially the GBP/JPY trade) took much more out than I was expecting. I discovered my error. I had a specific Lot Size (unit size in Oanda) set to make each trade with. However, 10,000 units of EUR/USD is not the same, monitarily,...
alright... GBP pairs were driven by fundamentals today.
important step is now to learn by the fail trades.

keep on !

see ya tomorrow
phanti
Hero calls followed by margin calls...
  • #39
  • Apr 5, 2011 4:51pm Apr 5, 2011 4:51pm
Quoting Dreamliner
....I had a couple of trades hit stop losses today.....
My first thought was, that your system doesn't use a stoploss because of the steady climbing balance curve you've mentioned
  • #40
  • Apr 5, 2011 8:52pm Apr 5, 2011 8:52pm
Like Iwjw, I thought you weren't using SLs either. Another aspect of systems with steadily growing balances and jumpy navs is small TP and large SL.

I see you got caught by the pip value error! I think this is first time I've read where someone had positive pips but negative account growth, lol. I've set Oanda at 50:1 leverage and 2% account usage per trade, so all my trades are the same dollar amount. I don't know if something like that will work for what you are doing.
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