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elite's personal journal

  • #1
  • First Post: Edited 9:41pm Mar 12, 2006 9:33pm | Edited 9:41pm
This thread will serve the purpose of displaying results of elite's system.

This system was mentioned in another thread but I never got around to posting the specifics of it for various reasons. One of those reasons is that I believe I have stumbled upon a system that cannot fail and that information could be valuable. Another reason is that I want to test it out publicly over an undetermined period of time to see what kind of progress is made. I will post a chart every day that at least one order has been closed beginning with 3/12/06.

This thread will used as a personal journal. I am not trying to sell or prove anything.
  • #2
  • Mar 12, 2006 9:40pm Mar 12, 2006 9:40pm
Summary: Short term transactions.
Balance increase: US$347.00 ( 5.67% )
How happy am I with today's trades? (1-10): 6

http://www.fcxi.com/images/reports/3-12-06.JPG
  • #3
  • Mar 13, 2006 3:55am Mar 13, 2006 3:55am
Quoting elite
Summary: Short term transactions.
Balance increase: US$347.00 ( 5.67% )
How happy am I with today's trades? (1-10): 6
This overview is lacking a few details, such as:
How many lots are you trading?
Entry and exit positions?
Entry and exit times (so we can have a look at the charts to compare)
S/L and T/P (where relevant, it depends on the system, of course)

Cheers!
  • #4
  • Mar 13, 2006 5:02am Mar 13, 2006 5:02am
Quoting CescoAiel
This overview is lacking a few details, such as:
How many lots are you trading?
Entry and exit positions?
Entry and exit times (so we can have a look at the charts to compare)
S/L and T/P (where relevant, it depends on the system, of course)

Cheers!
Yes, I'm aware. I wish my reports would spit this information out automatically, but for some reason it doesn't. The exit times are there, obviously, but you have no clue if I was going short or long. I didn't log these details yesterday manually, unfortunately. My lot sizes range from 40,000-80,000. No stop losses ever used. I'll be sure to throw in my positions/entry times as well as lot sizes after today's trading.
  • #5
  • Mar 13, 2006 4:31pm Mar 13, 2006 4:31pm
Hi Elite,

Are you going to post the details of your system so we can see what methodology you're using?
Dave If you can't swim with the sharks stay out of the water!
  • #6
  • Mar 13, 2006 4:46pm Mar 13, 2006 4:46pm
Hey Dave,

Yeah, I'll have to go into some of it in order to explain why I've done some things. My system makes it hard to inform of entries though. I'll put a little more description into tonights posting. Not the best trading day today, though! No losses, but I feel like I'm in limbo land... waiting for some action.

Quoting downunderdave40
Hi Elite,

Are you going to post the details of your system so we can see what methodology you're using?
  • #7
  • Mar 13, 2006 4:50pm Mar 13, 2006 4:50pm
Quoting elite
Not the best trading day today, though! No losses, but I feel like I'm in limbo land... waiting for some action.
Haven't traded today either... Nice chance to play with MetaTrader's MQ language and play with a test expert I'm working on...
  • #8
  • Mar 13, 2006 9:38pm Mar 13, 2006 9:38pm
Summary: Overall short term transactions. Today was spent trying to get out of what I call 'limbo periods'. Using my system, risk management is about 100% effective, however you must sometimes work your way out of situations where the price range is within the hedge containers (you'll get it when I post the system). Unfortunately, I was forced at a bad time to protect myself in an undesirable position later in the day and will be forced to fight out of limbo again tomorrow.
Balance increase: US$197.46 ( 3.05% )
How happy am I with today's trades? (1-10): 3.5

http://www.fcxi.com/images/reports/3-13-06.JPG
Due to the structure of my system, it wouldn't make sense to list when my entry times were. I apologize for this, but it will make sense when I post the system.

Here is a list of my positions:

80,000: Long 1.1931 - 1.1940
80,000: Long 1.1924 - 1.1929
80,000: Short 1.1949 - 1.1947
80,000: Short 1.1949 - 1.1948
50,000: Short 1.1950 - 1.1947
40,000: Short 1.1950 - 1.1947
80,000: Short 1.1980 - 1.1977
80,000: Short 1.1980 - 1.1978
50,000: Short 1.1979 - 1.1978
40,000: Short 1.1980 - 1.1979
  • #9
  • Mar 14, 2006 4:07am Mar 14, 2006 4:07am
Hello! I'm also trading with about $15,000. but instead of making a few hundred bucks on a daily basis, I've been losing that amount everyday. maybe trading is really not for me... but I'll try your system before I give it all up. please post it soon...

meanwhile, could you please shed more light on the list below? for example, regarding the 1st line, what does the price 1.1931 - 1.1940 mean? does it mean that you went long between that price range? if so, where did you put on your hedge positions? and why? besides, you've a lot more short positions than long positions, why is that? are they also hedged? how?

80,000: Long 1.1931 - 1.1940
80,000: Long 1.1924 - 1.1929
80,000: Short 1.1949 - 1.1947
80,000: Short 1.1949 - 1.1948
50,000: Short 1.1950 - 1.1947
40,000: Short 1.1950 - 1.1947
80,000: Short 1.1980 - 1.1977
80,000: Short 1.1980 - 1.1978
50,000: Short 1.1979 - 1.1978
40,000: Short 1.1980 - 1.1979
  • #10
  • Mar 14, 2006 4:21am Mar 14, 2006 4:21am
Quoting bluefox
Hello! I'm also trading with about $15,000. but instead of making a few hundred bucks on a daily basis, I've been losing that amount everyday. maybe trading is really not for me... but I'll try your system before I give it all up. please post it soon...
Hi,

Hope you don't mind me giving advice. But if you're constantly losing money, why not try demo trading first?

Oh yeah, sorry for invading your thread elite.

Regards,
East
  • #11
  • Mar 14, 2006 7:02am Mar 14, 2006 7:02am
Quoting bluefox
meanwhile, could you please shed more light on the list below? for example, regarding the 1st line, what does the price 1.1931 - 1.1940 mean? does it mean that you went long between that price range? if so, where did you put on your hedge positions? and why? besides, you've a lot more short positions than long positions, why is that? are they also hedged? how?
Hey bluefox,

The lines are laid out simply as: # of lots: Position(long/short) Entry - Exit.

The hedges for all containers were made at different times for different reasons. I'll try to get more into this when I've posted the system. Overall, I usually keep myself safe by always having hedges working for me. There are more short than long just because of the way the market acted yesterday. I wasn't really able to exit from my long orders. I spent most of the day waiting unhedged so that I could bring my hedges closer together, but ended up having to take an undesired position to manage my risk. It's likely that today will see more closed long orders than short.

I apologize if this seems confusioning, but it would take a while to explain when/how/why I hedge different orders at different times.
  • #12
  • Mar 14, 2006 7:09am Mar 14, 2006 7:09am
sounds interesting. I'm eager to learn more ....
  • #13
  • Mar 14, 2006 4:50pm Mar 14, 2006 4:50pm
hello Elite! thanks for the reply! I think I understand a bit more now. I'll keep following your posts, and continue asking dumb questions :-). looking forwrd to seeing a full description of your system.

hello East! thanks for your advice. you are right, I should have traded demo 1st. but I didn't. and now I can't go back trading demos, because once you've traded a live account, you smiply couldn't go back operating a demo, there is just no fun in that ...
  • #14
  • Mar 14, 2006 6:59pm Mar 14, 2006 6:59pm
Quoting bluefox
hello East! thanks for your advice. you are right, I should have traded demo 1st. but I didn't. and now I can't go back trading demos, because once you've traded a live account, you smiply couldn't go back operating a demo, there is just no fun in that ...
I wish you wouldn't say that...
I think we always have a decision on our actions..

But then again, it's your decision...
And I don't want to breath down your neck and tell you things so I guess,
it would be better for me to wish you the best in your trading..

But IF ever you need help, you can always come back here.. I'm sure members are more than willing to help..

Regards,
East

P.S.
By the way, I did trade a live account first... That's why I'm in demo trading now...
  • #15
  • Mar 14, 2006 10:15pm Mar 14, 2006 10:15pm
Quoting bluefox
hello East! thanks for your advice. you are right, I should have traded demo 1st. but I didn't. and now I can't go back trading demos, because once you've traded a live account, you smiply couldn't go back operating a demo, there is just no fun in that ...
Mate, are you saying that making a loss (of REAL money) each day is more FUN than making a loss (of monopoly money) each day? Well, I have to hand it to you ... you sure do know how to have easy and expensive fun

Seriously, if you are not going to demo you might want to reduce your position sizes (use micro lots of $1000 instead of mini lots of $10,000 ... this would reduce your loss considerably on each trade). Reduce the amount of money you will lose while retaining that emotional/psychological situation that comes with trading real money (which you don't get with demo trading).

I am interested in learning how Elite is trading as well.
Cheers,
Linc.
  • #16
  • Mar 14, 2006 11:00pm Mar 14, 2006 11:00pm
Summary: Short term transactions again. In my opinion, stagnant price for EUR/USD today. Still looking to work out of limbo. Market did not move overall in my favor, however that will only limit my profit. I really cannot cry about it, I pulled out a pretty decent return today considering the circumstances
Balance increase: US$304.40 ( 4.55% )
How happy am I with today's trades? (1-10): 4

http://www.fcxi.com/images/reports/3-14-06.JPG
It's late, so I'll try to get the lot sizes, positions, entry/exit prices later on.
  • #17
  • Mar 15, 2006 1:48am Mar 15, 2006 1:48am
Quoting elite
Summary: Short term transactions again. In my opinion, stagnant price for EUR/USD today. Still looking to work out of limbo. Market did not move overall in my favor, however that will only limit my profit. I really cannot cry about it, I pulled out a pretty decent return today considering the circumstances
Balance increase: US$304.40 ( 4.55% )
How happy am I with today's trades? (1-10): 4

http://www.fcxi.com/images/reports/3-14-06.JPG
It's late, so I'll try to get the lot sizes, positions, entry/exit prices later on.
I wish one day I could also have such a list to post here, strictly profit, no losses :-). the good news is, I've also made a huuuuge profit today, to the unbelievable amount of ....... $8. :-(
  • #18
  • Mar 15, 2006 1:57am Mar 15, 2006 1:57am
btw, elite. what's that premimum fee you've been paying? is it commission? I thought no brokers charged commission for trading forex. you must have a very good reason for picking one that does so. and some of your profits are enclosed by brackets, ($1.50) etc. why is that?

I've also noticed that this thread is named your personal journal. does it mean that you'd like to keep it clean? if so, I'll try to only speak when I absolutely have to :-).

good day, and good trading.
bluefox
  • #19
  • Mar 15, 2006 2:32am Mar 15, 2006 2:32am
Quoting bluefox
btw, elite. what's that premimum fee you've been paying? is it commission? I thought no brokers charged commission for trading forex. you must have a very good reason for picking one that does so. and some of your profits are enclosed by brackets, ($1.50) etc. why is that?

I've also noticed that this thread is named your personal journal. does it mean that you'd like to keep it clean? if so, I'll try to only speak when I absolutely have to :-).

good day, and good trading.
bluefox
I believe that's interest I'm paying. I'm not an interest expert, but I believe when you hold long you earn and when you hold short you lose. The brackets are negative because I was holding short orders past 5PM EST. I use FX Solutions for my broker.

I don't care if you post here.. I like to chat! Pollute it all you want! haha. I look forward to anything anyone has to say!

As far as your $8 profit.. what sort of trading are you doing? (lot size, leverage, etc)
  • #20
  • Mar 15, 2006 5:33am Mar 15, 2006 5:33am
Hi elite,

I hope you don't mind me asking.. But how do you measure your trade temperature?

I mean, you have there "how happy I am with today's trade"... And I think I read it somewhere.. Maybe from Van Tharp.. I really can't remember..

But anyway, I think that it is something I may want to add in my trade logs..
Could you please give me more detail about it?

Regards,
East
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