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My live trading account

  • #1
  • First Post: Aug 1, 2011 4:10am Aug 1, 2011 4:10am
I have opened this thread to share opinions with the other traders regarding my live performance. So I declare the debate open, people! Let's begin.
  • #2
  • Aug 2, 2011 12:41am Aug 2, 2011 12:41am
I have moved the S/L on profit on EUR|CAD and I will modify it on a daily basis. We will see how will develop in the next days.

I have closed some good trades yesterday on: USD|JPY, GBP|JPY and EUR|JPY (compensating the initial losses on GBP|JPY and GBP|USD) and closed one problematic EUR|AUD (taken on hurry).

I have made a fast entry on GBP|JPY and I am not sure if it will fall very soon.

More details on my both Overview and Trade list pages.
  • #3
  • Aug 2, 2011 3:14am Aug 2, 2011 3:14am
Keep up the work-will monitor also your decisions!
  • #4
  • Aug 2, 2011 9:09pm Aug 2, 2011 9:09pm
The EUR/NZD trades you are doing very good on. You are up over 90% return I think on those trades. What is your thinking behind making those trades? Thanks in advance!
  • #5
  • Aug 2, 2011 11:57pm Aug 2, 2011 11:57pm
Quoting achun
The EUR/NZD trades you are doing very good on. You are up over 90% return I think on those trades. What is your thinking behind making those trades? Thanks in advance!
As you can see, I have waited for the pair to make lethal signs that were announcing the downside that would break the historical low. And then I have waited, the patience is very important.
  • #6
  • Aug 3, 2011 12:27am Aug 3, 2011 12:27am
I can see the pip count is very big.....what time frame do you us?
Trade responsiblypatience is the key/Swing trader
  • #7
  • Edited 1:07am Aug 3, 2011 12:50am | Edited 1:07am
Quoting Incrediblle
I can see the pip count is very big.....what time frame do you us?
I usually enter on the 4h time frame and keep the trades, if the price does not touch the S/L, for medium to long term (swing trading).

I would be more than happy if anyone could make an AUD|CHF Elliot wave analysis, I am convinced that we are experiencing a 4-wave to the downside in a descending triangle formation (weekly). If I am wright this is the end of the down move on this pair.

Attached Image (click to enlarge)
Click to Enlarge Name: audchf_triangle.jpg Size: 84 KB
  • #8
  • Aug 3, 2011 9:51am Aug 3, 2011 9:51am
Quoting diavolul
I usually enter on the 4h time frame and keep the trades, if the price does not touch the S/L, for medium to long term (swing trading).

I would be more than happy if anyone could make an AUD|CHF Elliot wave analysis, I am convinced that we are experiencing a 4-wave to the downside in a descending triangle formation (weekly). If I am wright this is the end of the down move on this pair.

Attachment
The scenarios has been canceled because of the invalidation of the wave-4 through the wave-2.

Today one notable position on EUR|NZD has been closed (on S/L) with great profit of 537 pips plus some other positions, with a sum of 867 pips, details in the trade list area.
  • #9
  • Aug 3, 2011 10:11pm Aug 3, 2011 10:11pm
Quoting diavolul
As you can see, I have waited for the pair to make lethal signs that were announcing the downside that would break the historical low. And then I have waited, the patience is very important.
Thanks diavolul! It sounds like technical base trading, are you using any fundamental analysis too?

Your AUD/CHF buy trade is bad in the red. Are you worried about it and when will you exit? I see you have elliot analysis but also this is picking the bottom too right?
  • #10
  • Aug 3, 2011 10:15pm Aug 3, 2011 10:15pm
Quoting diavolul
I usually enter on the 4h time frame and keep the trades, if the price does not touch the S/L, for medium to long term (swing trading).

I would be more than happy if anyone could make an AUD|CHF Elliot wave analysis, I am convinced that we are experiencing a 4-wave to the downside in a descending triangle formation (weekly). If I am wright this is the end of the down move on this pair.

Attachment
why on earth are you still holing that trade

in looking at your performance, you should probably stop trading and evaluate your mistakes so yoiu dont keep making the same ones over and over and over
  • #11
  • Aug 3, 2011 10:18pm Aug 3, 2011 10:18pm
mfoste1 with respect the performance is good for diavolul. This is last 12 months returns he is doing better. Month losses are small and win months are big.
Attached Image (click to enlarge)
Click to Enlarge Name: pic1.png Size: 13 KB
  • #12
  • Edited 2:56am Aug 4, 2011 2:42am | Edited 2:56am
Quoting achun
Thanks diavolul! It sounds like technical base trading, are you using any fundamental analysis too?

Your AUD/CHF buy trade is bad in the red. Are you worried about it and when will you exit? I see you have elliot analysis but also this is picking the bottom too right?
I don't like to pick the bottoms or the tops in a certain downtrend or uptrend.
Regarding the AUD|CHF, it is on a correction on a large scale therefore I should keep it 2-3 years. So far with the positive swap it covers 80 pips the rest of loss it is not covered. I am still dealing with it, I have to make a very accurate analysis on it (Elliot Wave) to be certain that will recover, even in the long run.

If my account will recover fast the AUD|CHF trade will decrease significantly, as a percent from the balance.

On my analysis, I rarely use the fundamentals for my trading decisions, I use to watch how are the world's markets are closing (especially the Asian markets for general tone). Technical analysis mostly, I would say 85%.
  • #13
  • Aug 4, 2011 9:33am Aug 4, 2011 9:33am
When my draw down was nearly 85%, after I talked a little wile with a pal, I was enlightened - I have discover that I should trade like a was 200% profit, not like a looser, even tough my account was nearly its extinction. A great mindset made me recover well, I would say, you are more than welcome to comment on my performance, every opinion and ideas are truly welcome.

Thank you guys.
  • #14
  • Aug 11, 2011 10:08am Aug 11, 2011 10:08am
After a run up of almost 800 de pips for this week, it came a fall out of 400 pips, mainly on usdchf. I will close the audchf trade when I will make an additional 1200 pips to cover it up completely.

Some of this week intra-day trades are made with Bobokus method so thank you pal, once again and take care.

And to the rest of you I wish you the best in trade and I will come up with another update next week.
  • #15
  • Aug 11, 2011 10:43am Aug 11, 2011 10:43am
Hi D,
I have read all the posts in the thread, and I do not see any money mnagement ideas, You measure the loss or success in pips.
Am I right ? Or is it mentioned somewhere ?


Thank You
Peter
Jesus Christ is my only Lord !
  • #16
  • Aug 11, 2011 2:19pm Aug 11, 2011 2:19pm
I measure it in pips and percentages. I don't use a certain risk percentage, my stop-losses vary from 30-700 pips, depending on the time span I am using, sometimes intra-day and sometimes medium to long term. I use constant lots in trading, it is not a big secret. And I am shortening them gradually, as the time is passing.

Thank you for your answer, Peter. Have a nice trading day.
  • #17
  • Aug 11, 2011 2:36pm Aug 11, 2011 2:36pm
Quoting diavolul
I measure it in pips and percentages. I don't use a certain risk percentage, my stop-losses vary from 30-700 pips, depending on the time span I am using, sometimes intra-day and sometimes medium to long term. I use constant lots in trading, it is not a big secret. And I am shortening them gradually, as the time is passing.

Thank you for your answer, Peter. Have a nice trading day.
Thank You D,
for answering my post. Excuse my courisity but I simply meet for the first time this kind of approach. I understand that You expect it to bring You profits in longer term, and my next question is : is it Your own innovative approach or do You know anybody - I mean a succesful trader - who aplies it in everyday trading ?

Thank You,
Peter
Jesus Christ is my only Lord !
  • #18
  • Aug 11, 2011 9:41pm Aug 11, 2011 9:41pm
Quoting hipcio
Thank You D,
for answering my post. Excuse my courisity but I simply meet for the first time this kind of approach. I understand that You expect it to bring You profits in longer term, and my next question is : is it Your own innovative approach or do You know anybody - I mean a succesful trader - who aplies it in everyday trading ?

Thank You,
Peter
From the long run perspective, its my own approach. In intra-day trading I use Bobokus method as I have already said earlier in the topic. I don't know anybody of that kind.

Thank you.
  • #19
  • Aug 12, 2011 2:13am Aug 12, 2011 2:13am
Maybe not something you want to hear, but you do exactly the opposite of what successful traders do.

When I look at your trades, you have lots of small winnings and quite a few large losses. No wonder you are in deep drawdown.

Yeah, your win-rate is quite good with 59%, but your account is the perfect example why win-rate alone is not important. You need an okay win-rate with an okay R:R.
As long as you let your losers run, you will never make the turnaround into profitability.

Doesn't look like you thoroughly tested your approach, seems more like you are playing around without knowing if it has a statistical edge or not.
  • #20
  • Aug 12, 2011 2:28am Aug 12, 2011 2:28am
Try to divide your positions into parts and your trades into stages. So when PA moves against you, and you still believe in your prediction - you enter again. If you divide your position and trade into 5 parts (e.g. 1 lot into 0.2 lot), and you think you should short - after you entered your trade, you have 4 more chances to enter higher if PA moves against you. And if you decide to exit - you only lose 1/5th of your position ($ per pip).

In this way you always give PA time and space to breath. I'm sure you noticed many times PA eventually goes in the direction you predicted - but in that time you are already out, your SL was hit.

Divide positions (lot sizes) and trades into parts and stages. More often than not PA goes against you for some time, and you have to be prepared for this.

Never assume PA will go where you predicted, right after you placed a trade.

Do not trade in hit-or-miss style. This is pure gambling.
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