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Attachments: Would it be too much trouble to pay me back my $20,000, my sexy darling?
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Would it be too much trouble to pay me back my $20,000, my sexy darling?

today was a great trading day. Although I made much more money on every other day this week, this day is the day I would prefer to have everyday.

1 single trade, half hour screen time, 1:3 risk/reward. 1.2% return

I have only rarely done this before. I usually keep trading, lose my gains and then trade some more to recover or lose more. Im going to try and make my trading days more like this in the future. I returned 20% on my account this week thanks to mondays spectacular rally. I am back to work next week so alot less trading will be happening and even less posting.
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  • Post #522
  • Quote
  • Edited at 8:23am Oct 17, 2011 4:47am | Edited at 8:23am
work got cancelled, traded all day. It was a shocker. 1st 8 trades were all losers and put me 5.3% down. it took the rest of the day to recover to 4.4% in front. The big selloff during london helped alot as I managed to flip short early enough to capture 70pips, a huge trade for me
Quoting M.A.C.Doug
work got cancelled, traded all day. It was a shocker. 1st 8 trades were all losers and put me 5.3% down. it took the rest of the day to recover to 4.4% in front. The big selloff during london helped alot as I managed to flip short early enough to capture 70pips, a huge trade for me
Screen shot of the trades - too many but it worked out well in the end
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Spent a couple of hours trading after dinner(mid morning london time). Managed a 1% return from only 40% success rate. Cut losers short really does work for me, I often lose more trades than I win but still pull in front. My second trade nails the bottom of the Euro drop at support which was cool, probably should have left it at that as I was 0.6% up. It took another 9 trades and two hours to get the other 0.4%

11 trades
4 wins
6 losers
1 breakeven
1% gain
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Great trading Mac.
Euro sells off and reaches support at the end of the NY session. My bias is long given it is the end of the day, price has been sold all session and has hit support. Traders are going to need to close out and book profits which means they will need to buy. I start buying counter trend as usual. I lose my first three trades. My bias is correct and my next three win. The market closed before my last trade finished so I had to overcome a larger spread before finally reaching target

21 pips
1.1% return
o.25% risk per trade
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  • Post #527
  • Quote
  • Edited Oct 24, 2011 12:59am Oct 23, 2011 2:55am | Edited Oct 24, 2011 12:59am
7.9% return for the week

I trade with a tight stop pre-set to 4 pips and a pre set tp of 12 pips for 1:3 risk reward. It rarely works out like that as I wait to enter and usually slip myself a pip or two. I then adjust stops and take profits so it may end up nothing like my presets. I get stopped out alot and often have to re-enter the same trade after already taking a loss. Its messy but its working with only a 50% hit rate and winners only a little bigger than losers.

Here is an example of an ideal trade set up that occured on thursday

Firstly there is an upside breakout so I am looking for a long trade

price returns to ppz which happens to be the central pivot for the day. The 38.2% fib retrace of the breakout move is also in that area. I buy the central pivot

A 4 pip stop and 12 pip tp works fine. Price then craps itself. My long bias was wrong

Of course I didnt trade it that ideally. I entered early and took some losses before finally coming out on top. Thats what I do as a human being. That is why my actual results dont match my intended results.
I dont care, I like being human and imperfect. You only get once chance to be that as far as I know. Why waste time trying to be something else when you dont need to?
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I broke even yesterday. I traded for hours and I was lucky to get my money back. Today was much better earning 44 pips for 1.8% in much less time
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no trades yesterday - to tired from slaving in the hot sun. I am not used to hard work and it killed me. I felt better today so I opened up the platform after work. The set up was there. Really tight stop. It was an A grade set up so I opened two positions. It was all over in 15 minutes. Just the way I like it.
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Quoting M.A.C.Doug
no trades yesterday - to tired from slaving in the hot sun. I am not used to hard work and it killed me. I felt better today so I opened up the platform after work. The set up was there. Really tight stop. It was an A grade set up so I opened two positions. It was all over in 15 minutes. Just the way I like it.
Hi Doug! ... when you are exhausted from the craft work, it is warning to trading... When i was delivery boy + trading = disaster. Regards
  • Post #531
  • Quote
  • Edited at 1:37pm Nov 7, 2011 12:35pm | Edited at 1:37pm
I finished last month with an 18% return. It was much better and I hadnt had a losing day until the last two days. I wanted more but I didnt want to break my unbeaten record for the month. I was trading scared and market conditions were ranging tightly and I lost hand over fist.

On a brighter note I had a brilliant day today gaining 3% from 74 pips. 3 wins, 1 loss and a breakeven. Sometimes I really pull it out of the hat. I think to myself "I am really good at this". Then I remind myself I am trading micro. Reality check!

Anyhoo heres some great micro account trading
First four trades I am trading the range. The market breaks and I am on it. I stay in all the way down to daily support (daily fib+trend line) and then I flip for the bounce. In the zone!
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As always great results MAC Doug ! I've been following you from what seems like years and you're always achieving impressive results Having no losing days is a fantastic feeling, I had that months ago then I stopped trading for personal reasons but now that winter is here I'm going to get back at it.

What does "losing hand over fist" mean, percentage wise ?
Quoting M.A.C.Doug
I finished last month with an 18% return.
Very nice. Well done
Nothing worth having is easy.
  • Post #534
  • Quote
  • Edited at 8:25am Nov 22, 2011 6:14am | Edited at 8:25am
Thanks Patience

Quoting Intensity

What does "losing hand over fist" mean, percentage wise ?
down 5% - very difficult to recover in the same session. It happens when I deviate from my tried and tested techniques

Ive been a bit to busy for much trading or posting lately but I had to show off todays really cool result. Two trades, two wins 1.2% return from 0.2% risk per trade

p.s - I actually missed two more winning trades while posting this - that will teach me for being a show off!
p.p.s - I wonder how many trades I missed posting my p.s's about the trades I missed?
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This chart is a superb set up from last friday I wanted to share as I dont do much teaching these days.
Very high probability set up, the breakout backside retest with a confluence of significant levels from the daily
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Wed 23 nov
strong short bias, all trades were short and then a nice breakout rained pips to take me to 4% in a single day

trades 14
Wins 6
Lose 8
total 78 pips
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Thu 24th Nov

No bias today, just cruising - dancing with price and did better with long trades for what was an easy 2% return

Trades 16
Win 7
Lose 9
pips 43
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  • Post #538
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  • Edited at 6:46am Nov 29, 2011 6:21am | Edited at 6:46am
Got a good breakout signal this session and traded it with a trade management technique I developed months ago specifically for this type of breakout. I never actually used it live until today. It worked as planned returning 6% from three positions. By trailing the stop up with every new entry the account was never more than 1% at risk. I captured 60 pips and 6% from a 30 pip move. It is hard for me to enter again once I have a winning position. I prefer to lock in break even and let the single position ride for 3x my risk. It is clearly out of my comfort zone which is probably a good sign

Anyway, here's how it works

each position has a 10 pip 1% stop. The stop is raised after the second position is taken so that the first is at break even and only the second position is risking 1%. The stop is raised again with the third entry so that trade 1 has 1% locked in, trade two has a break even stop and trade three has 1% risk so the whole thing is now at breakeven if stopped out but with 6% return if the target is achieved - brilliant! if I do say so myself
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  • Post #539
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  • Edited at 9:45pm Dec 17, 2011 9:33pm | Edited at 9:45pm
I managed to trade my old Oanda account into 35% profit for the year. This is the first year I have made a profit in six years of trying. I know it sounds pretty piss weak with all the noobs on this forum claiming those returns every day, week or month but I consider it quite a milestone.

The account was started with $1000 over 2 years ago. I tanked it down to $90 after achieving a high of $3600 in the first six months. The account is currently trading at $300.

My plan is to trade this account back to the original $1000 which I hope to achieve over the next 12 months or so. Having proven myself I will then add more funds.

I am currently not satisfied with my trading. I need to prove to myself that I can be consistent over a 12month period with very low risk. Once I have done this, I will beg, borrow and steal (maybe not steal) to get my account up to a level where the return pays me well for my time. Thats the plan.

Heres how the last 4 months looks on myfxbook since I started to get serious again
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Quoting M.A.C.Doug
I managed to trade my old Oanda account into 35% profit for the year. This is the first year I have made a profit in six years of trying. I know it sounds pretty piss weak with all the noobs on this forum claiming those returns every day, week or month but I consider it quite a milestone.

The account was started with $1000 over 2 years ago. I tanked it down to $90 after achieving a high of $3600 in the first six months. The account is currently trading at $300.

My plan is to trade this account back to the original $1000 which I hope...
An honest forum poster...you are a rare beast indeed.Good luck with your future endeavours.
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