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The Trader Behind the Trade™

  • #21
  • Dec 20, 2012 10:34am Dec 20, 2012 10:34am
I speculate a daily close below 3150 to be the restart of the bearish trend

Attached Image (click to enlarge)
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The daily chart showing signs of weakness

1. shooting stars
2. Extended price move away from moving averages
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  • #22
  • Dec 20, 2012 5:04pm Dec 20, 2012 5:04pm
Everybody has idols.

My idol when it comes to the financial markets : Paul Tudor Jones
I always admire his attitude towards what it takes to be a profitable trader and successful money manager. Also he's from my Alma Mater

One of his interviews


My idol in sports: Cristiano Ronaldo
Talented, but more importantly; his work ethic is very inspirational.

Inserted Video
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  • #23
  • Dec 21, 2012 12:45am Dec 21, 2012 12:45am
Quoting TPOTrader
Everybody has idols.

My idol when it comes to the financial markets : Paul Tudor Jones
I always admire his attitude towards what it takes to be a profitable trader and successful money manager. Also he's from my Alma Mater

One of his interviews


My idol in sports: Cristiano Ronaldo
Talented, but more importantly; his work ethic is very inspirational.

http://www.youtube.com/watch?v=zjAZZaYjcos
I'm huge fan of PTJ as well. Not only is he a great trader/investor, he likes to give back. He shares his wealth, through his charities and other donations and he has done that since day one. It probably helps with taxes as well. Lol
Damn The Torpedoes, Full Speed Ahead!
  • #24
  • Dec 21, 2012 12:29pm Dec 21, 2012 12:29pm
Not yet done trading for this year. no no noooo

I plan on trading with the peons on thursday and friday next week. Well see how big the spreads are.
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  • #25
  • Dec 21, 2012 12:34pm Dec 21, 2012 12:34pm
Hi TPOTrader

Do you mind elaborating a bit more on your trading strategy?
  • #26
  • Dec 21, 2012 12:42pm Dec 21, 2012 12:42pm
Quoting FxIntern
Hi TPOTrader

Do you mind elaborating a bit more on your trading strategy?
I would, but then i would have to kill you.

But seriously, I don't plan on sharing the details of my trading system. I do trade using order flow using variety of tools like 6E futures data, COT chart, news feeds and some good ol' technical analysis.
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  • #27
  • Dec 21, 2012 12:47pm Dec 21, 2012 12:47pm
Looking through your trade history,I could see that you dont have fixed stop-loss and take profit levels.......do u have any rationale behind this action.

Or could it be its time-based exit?....cos looking at the trade you took today,which eventually went to loss,was intially in a big profit up to 30pips.
  • #28
  • Dec 21, 2012 1:07pm Dec 21, 2012 1:07pm
Quoting FxIntern
Looking through your trade history,I could see that you dont have fixed stop-loss and take profit levels.......do u have any rationale behind this action.

Or could it be its time-based exit?....cos looking at the trade you took today,which eventually went to loss,was intially in a big profit up to 30pips.
yea that shiet happens sometimes. My TP is not timed based, but price level based. It just didn't get to that price today. I also had trades that I could've taken for 10-20 pips, but my historical performance shows that it's better to stick to price level target because that what has worked.
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  • #29
  • Dec 21, 2012 1:39pm Dec 21, 2012 1:39pm
Quoting TPOTrader
A little about myself:

I daytrade the EURUSD in the European session (2am cst). I also have a full time job as a Quality Engineer at a healthcare manufacturing company.

I never forget May of 2011; that is when my trading income exceeds my regular job income after 5 years of trading. I remember my first few purchases with profit I took from that month; 44" flat screen tv, sofa set, and gaming PC.

I also will never forget November of 2011. Lost $30k in the span of 3 days. Just couldn't let go of the fact that EURUSD was tanking. Just kept buying...
Inspirational story. Doesn't matter where one is at in his trading journey, it's always great to hear one. Thanks for sharing, and all the best with your future endeavors.
  • #30
  • Dec 22, 2012 10:23am Dec 22, 2012 10:23am
Nice, Very Nice TROTrader!!! Continue!!!
I like to see traders succeed!
  • #31
  • Dec 26, 2012 10:32am Dec 26, 2012 10:32am
My trading system have been through multiple revisions over the years. However, the core ideas behind my system hasn't changed.

My system revolves around auction market theory and order flow trading.

I started daytrading (by it's definition) in 2009. I found AMT in 2010. Found order flow trading in 2011. Trading both concepts in 2012.

I am currently backtesting my current system rules to the past historical prices. This is a manual bar by bar backtest using the free tester script you can find on FF. I'm going back 4 years (2009-2012).

Yes historical backtesting has its limitations. Especially when your system has subjectivity in it like mine (trading S/R is not as clear cut as you think) But the error is negligible if you apply negative slippage to all your trades.

Still working....backtesting is boring as fawk.

Will resume trading tomorrow.
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  • #32
  • Dec 26, 2012 12:51pm Dec 26, 2012 12:51pm
Over the years, my penmanship skills have deteriorated to something barely recognizable. I belong to the generation Y, we just know how to type fast.

Some of my notes from the backtests:

Attached Image
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  • #33
  • Dec 26, 2012 3:08pm Dec 26, 2012 3:08pm
Still trying to decipher your strategy from the meager of information you have provided thus far;am following with keen interest.
  • #34
  • Dec 27, 2012 11:26am Dec 27, 2012 11:26am
FINALLY completed my backtests of my current system rules applied to eurusd 5 minute from 2009-2011 (still awaiting data on 2012 to complete).

It reinforces my undertanding behind compounding growth. However, it's important to take note how asymmetrical leverage can affect your equity growth.

some basic information on the parameters of the backtests:

1. -0.5 slippage applied to all losing trades, and -0.2 slippage applied to winning trades (I use TP 99% of the time)
2. Start equity $10,000
3. Three different scenarios in terms of money management

a) Daily compound on new equity high. On a loss, maintain size until margin defict-then recalculate new size
b) Quarterly compound on new equity high. On margin deficit, maintain size until margin deficit-then recalculate new size
c) Fixed 100,000 units (1 lot) = $10/pip size for all trades

Here are the results:

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Looking at my trade explorer..i'm due for some retracement based on historical performance.
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  • #35
  • Dec 28, 2012 3:11am Dec 28, 2012 3:11am
That's it for me for 2012. Was a great month to end a good year.

Time to review the trading performance and also adjust the trading size going into 2013.

Will also jot down lessons learned in 2012.

Time to get paid!

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  • #36
  • Dec 30, 2012 2:35pm Dec 30, 2012 2:35pm
Trading Lessons 2012

1. Always trade with a small enough size to maintain that position through a drawdown
2. Plan for worst case scenario drawdown
3. Adjust position size on a fixed schedule based on equity gain and price volatility

Goals for 2013

1. Gain minimum 100% return
2. Maintain strict risk profile and not deviate from it during times of winning and losing
3. Buy a house (biiiig goal)
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  • #37
  • Dec 31, 2012 7:54am Dec 31, 2012 7:54am
Everybody has a unique motivation to be in the market, and believe it or not it's not always about money.

Some people come to this market to boost their ego. Talk about their biggest loss, or how great of a trader they are; all to elicit a "hey you are great" response. That feeds their ego, gives them a high. I'm not going to lie, I fall into this also. Human beings LOVE to be praised, it's our nature.

For me, when I think deep down why I started trading was the same reason why I tried doing the Ebay business right after college, to be independent of a job income. I didn't really care about making boat loads of money, just enough that I can pay the bills and live off it. Now i'm doing it in forex. I guess I always find it attractive to be able to respond to the question "what do you do for a living?" - well "I work for my own- I (inset work here), so what do you do?"-again this is an ego trip


Then there's a few of those who have lost their pride. Always wanting to be the "victim"? Those that talk about their losses all the time. How they fucked up and now they are spending the rest of their trading career to recoup that loss. Sometimes talking about how bad they fucked up gives them a sense of "accomplishment" . That "hey look, i know I'm a loser, but back in the day i used to trade like a rogue..."

Then there's some people that I would call the "lost". They come here asking about how YOU trade, what OTHER people are buying/selling so they can get along. Fucking sheep. These guys trade a few pennies and just wondering around in this shark filled ocean hoping to make a buck or two. They sort of "like" the market- but never really commit to going all out or putting all effort to learn. I hate these guys.

Whatever form of validation you seek, you will get it from this market. Everybody has issues. Everybody has fucking problems and psychotic in their own ways. Each one of us puts up a front with other people, but the market reveals the truth about who you are as a person.
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  • #38
  • Dec 31, 2012 8:20am Dec 31, 2012 8:20am
Quoting TPOTrader
Everybody has a unique motivation to be in the market, and believe it or not it's not always about money.

Some people come to this market to boost their ego. Talk about their biggest loss, or how great of a trader they are; all to elicit a "hey you are great" response. That feeds their ego, gives them a high. I'm not going to lie, I fall into this also. Human beings LOVE to be praised, it's our nature.

For me, when I think deep down why I started trading was the same reason why I tried doing the Ebay business right after college, to be independent...
Agree....

Happy New Year my friend....full of health and pips!
  • #39
  • Dec 31, 2012 11:37am Dec 31, 2012 11:37am
Quoting 4xPIPAHOLIC
Agree....

Happy New Year my friend....full of health and pips!
to you and everyone else here.

may all your losses belong to me....uh..i mean....

god bless us everyone!
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  • #40
  • Dec 31, 2012 2:25pm Dec 31, 2012 2:25pm
Quoting TPOTrader
Trading Lessons 2012

1. Always trade with a small enough size to maintain that position through a drawdown
2. Plan for worst case scenario drawdown
3. Adjust position size on a fixed schedule based on equity gain and price volatility

Goals for 2013

1. Gain minimum 100% return
2. Maintain strict risk profile and not deviate from it during times of winning and losing
3. Buy a house (biiiig goal)
Need to update return goal:

Gain minimum of 50% return

Rather be on the conservative side.
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