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My One Percent Per Day Trading Journal

  • #41
  • Apr 5, 2011 9:47pm Apr 5, 2011 9:47pm
Quoting iwjw
My first thought was, that your system doesn't use a stoploss because of the steady climbing balance curve you've mentioned
But remember the rest of what I said, steady climbing balance, zig-zagging equity. The stop losses of course cause the equity to zig zag.
  • #42
  • Apr 5, 2011 9:50pm Apr 5, 2011 9:50pm
Sheesh, did I ever say I don't use stops? I re-read the first post and it's not there. I do use them .

Hi Doc, good to hear from you. I love your system too. This one is a bit like yours, different in some substantial details.

Regarding the "percentage" option at Oanda, I was told that changes with number of units available. This is why I went with the option number 3, which is "USD". Do I have this wrong?

Quoting dr_zeus
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.
  • #43
  • Apr 5, 2011 10:16pm Apr 5, 2011 10:16pm
Quoting Dreamliner
Sheesh, did I ever say I don't use stops? I re-read the first post and it's not there. I do use them .

Hi Doc, good to hear from you. I love your system too. This one is a bit like yours, different in some substantial details.

Regarding the "percentage" option at Oanda, I was told that changes with number of units available. This is why I went with the option number 3, which is "USD". Do I have this wrong?
Oh yeah, USD will work too. I use 2% that way it automatically increases my lot size as my account grows (or reduces lot size if the account declines.)

I don't use stops myself. I am testing my system with a couple of different stop losses on demo but it will be several months before I can conclude if they help. The opposing trades hedge my positions well enough for my live account.
  • #44
  • Apr 5, 2011 10:21pm Apr 5, 2011 10:21pm
Yes, the reason I went with USD instead of percentage is because my method can use nearly all the units available, and as we approach the maximum the number of units per trade would decrease if using percentage but not if using USD. I may be misunderstanding this, but that's the way I understand it.

I not only use a stop loss but also a stop loss recovery which "recovers the stop loss" around 90% of the time, leaving us with just profit.

Let me know how your stop loss technique evolves and what is working for you. I really appreciate your method.

Quoting dr_zeus
Oh yeah, USD will work too. I use 2% that way it automatically increases my lot size as my account grows (or reduces lot size if the account declines.)

I don't use stops myself. I am testing my system with a couple of different stop losses on demo but it will be several months before I can conclude if they help. The opposing trades hedge my positions well enough for my live account.
  • #45
  • Apr 6, 2011 8:42am Apr 6, 2011 8:42am
Greetings again,

I have now got everything squared away: money management, spreadsheet, everything. So because all was well, I entered trades on all 20 currencies I trade on, and the screenshot shows the results.

Now please remember that while balance goes up steadily, equity lags a bit. What you are seeing in the spreadsheet is closed trades, not equity. But this is enough to help us see how balance does go up. By the way, this is a live account on Oanda, and the starting balance was $109.22.
Attached Image (click to enlarge)
Click to Enlarge Name: Oanda Live.jpg Size: 168 KB
  • #46
  • Apr 6, 2011 9:45am Apr 6, 2011 9:45am
Hi Dreamliner

thanks for posting this.
Very impressive spreadsheet.

I know it is early days with you on this, I am sure I am not the only one who will be watching your results.

Am I reading that correctly that you are up 914 pips?
Or maybe because of 4 digit/5 digit it actually means you are up 91 pips?

I know that balance and equity will fluctuate due to open positions.
So the number of total pips will also go up and down as trades hit profit and stop loss and then are recovered with the stop loss recovery method.

I know that for various reasons such as:

1/ traders are fascinated by trading spreadsheets
2/traders are drawn to the success of other traders
3/ you are a popular guy on forex factory due to your other threads and posts

.....you will be deluged with questions about the system, and I will remind people this is simply your journal and you can not reveal anything about the system

I do think it is good discipline for you to continue to post your (hopefully) increasing pip and increasing account total.

Best wishes

PGPB
  • #47
  • Apr 6, 2011 10:21am Apr 6, 2011 10:21am
PGPB,

What a sensible guy you are! Very logical and clear in your thinking. Well done!

Yes, the spreadsheet at this point means very little, but it does mean something. Balance is going up, equity is fluctuating around. You said it exactly right when you said total number of pips will go up and down based upon targets reached and stop losses hit.

Remember the balance/equity document I posted earlier, and if you begin this process at the wrong place equity can take a hit, until you keep taking profits.

You were correct, it was 914 pips. I say "were" because now it is at exactly 1017 pips in 24 hours. The spreadsheet accounts for the digitals so it is accurate.

Quoting pgpb
Hi Dreamliner

thanks for posting this.
Very impressive spreadsheet.

I know it is early days with you on this, I am sure I am not the only one who will be watching your results.

Am I reading that correctly that you are up 914 pips?
Or maybe because of 4 digit/5 digit it actually means you are up 91 pips?

I know that balance and equity will fluctuate due to open positions.
So the number of total pips will also go up and down as trades hit profit and stop loss and then are recovered with the stop loss recovery method.

I know that for various...
  • #48
  • Apr 6, 2011 11:48am Apr 6, 2011 11:48am
Dreamliner,

Do you hold until the stop gets hit or a TP occurs, or can you close at a loss before the SL? Your SL:TP ratio is about 4:1 so you'll need to have a hit rate to make this work, unless that's just a disaster stop.
  • #49
  • Apr 6, 2011 11:52am Apr 6, 2011 11:52am
We count the trades as a "unit" and the target to stop loss ratio is 1:1. I just can't list them that way on the spreadsheet as the spreadsheet is not designed to work with "units."

Quoting dr_zeus
Dreamliner,

Do you hold until the stop gets hit or a TP occurs, or can you close at a loss before the SL? Your SL:TP ratio is about 4:1 so you'll need to have a hit rate to make this work, unless that's just a disaster stop.
  • #50
  • Apr 6, 2011 12:14pm Apr 6, 2011 12:14pm
Congrats Dreamliner...

It's a great feeling when you find a system that clicks for you.

Best of luck - I'll be following along and hope things continue to be successful for you.
  • #51
  • Apr 6, 2011 12:20pm Apr 6, 2011 12:20pm
cgrey, great to hear from you, I'm honored that you came by. I've learned a ton from you over time and appreciate your willingness to teach. Glad to see you!

Quoting cgrey
Congrats Dreamliner...

It's a great feeling when you find a system that clicks for you.

Best of luck - I'll be following along and hope things continue to be successful for you.
  • #52
  • Apr 6, 2011 12:41pm Apr 6, 2011 12:41pm
Quoting Dreamliner
cgrey, great to hear from you, I'm honored that you came by. I've learned a ton from you over time and appreciate your willingness to teach. Glad to see you!
I was intrigued by your opening post... I'm experimenting with some short-term strategies to complement the long-term stuff I do. Interested in following along with those that are doing well trading more frequently than mine.

There are a lot of "BS" threads around the factory - I pick and choose those I follow based more on my impression of the person presenting than anything else. You're one of the few people I'm interested in following, everything I've seen from you thus far has been well thought out and professional - tells me you''re a winner....
  • #53
  • Edited 6:07am Apr 7, 2011 3:40am | Edited 6:07am
Hi Dreamliner,
sorry didn't know if i wasn't suppose to ask these stuff, so i edited my post. guess i just have to find the info somewhere else. will still visit this thread thou..
  • #54
  • Apr 7, 2011 9:01am Apr 7, 2011 9:01am
Dreamliner,

You should have labeled your journal as "Demo." Then no one would bug you for the system, lol!
  • #55
  • Apr 9, 2011 9:31pm Apr 9, 2011 9:31pm
Greetings,

Just wanted to give an update on my trading this week. First, I ended up with a total of 246 pips (see attached spreadsheet). This of course is down from the higher amount that I had at the middle of the week.

These results are exactly as expected, as my system first takes profits, then hits stop losses, and then enters into the Stop Loss Recovery mode. We are in part two of the three part method currently.

I'm very happy with 246 positive closed pips for the week, and really have nothing else to say. All is well, continuing on as planned.
Attached Image (click to enlarge)
Click to Enlarge Name: Week Ending April 8.jpg Size: 224 KB
  • #56
  • Apr 10, 2011 6:59am Apr 10, 2011 6:59am
Glad to hear all is progressing as planned. What else could any of us ask for?

Dave
Is it Break Time yet?
  • #57
  • Apr 11, 2011 12:23pm Apr 11, 2011 12:23pm
Seems like things are going well for you, congratulations!

If you don't mind questions about this system, I am curious: when you say not uni-directional, is this system based on cross pair trading or something similar to grid trading on one pair at a time?
  • #58
  • Apr 15, 2011 9:03pm Apr 15, 2011 9:03pm
Hi Dreamliner,

how did it go this week?
  • #59
  • Apr 15, 2011 9:06pm Apr 15, 2011 9:06pm
Hi Waltini, it has gone very well this week. Up 120 pips. However, the problem with the spreadsheet that happened initially has happened again. There is nothing but %Value in the cells. I am working with the developer again to try to get it fixed. I'm horrible with spreadsheets.

Anyway, so far so good, all is well and I'm thoroughly enjoying the method, thank you for asking.

Quoting waltini1
Hi Dreamliner,

how did it go this week?
  • #60
  • Apr 22, 2011 8:40am Apr 22, 2011 8:40am
How are you doing this week with your system Dreamliner? Max
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