jwpdad's Journal

I'm not a fan of Ichimoku but those are some crazy returns! In my quick glance I didn't see any indications of irresponsible money management either. Congrats!

Jwpdad's performance is really impressive.

Good thing he started this live account with $186,000.

I do notice now losses around 10%. That is pretty high risk.

His average risk per trade seems to be between 6% and 10%. At the same time his average reward is almost 2x of risk. The only issue will be if this system encounters several losses of over 6% in a row.

Let's hope for the best.

Thanks, I wish, unfortunately I was only able to start with $175,000. (OK, it might be a LOT less than that, I already mentioned I am not making a living from trading yet. Of course with my family's expensive tastes, maybe I still wouldn't be making a living at that level! Just kidding again, we love thrift stores!)

As I said in the explorer's profile page, I don't recommend this high leverage. This is only one of my accounts and this trade explorer is for demonstration purposes, as well as my own financial gain purposes (hopefully long term). I have already withdrawn the initial investment I made in this account so this is "house money" so to speak, although profit is profit, and I don't want to lose it if possible.

I hope to bust the myth that one can't start from a small account and build to a big account, we will see how it goes. If I can maintain this for 8-10 months or more then I think that might prove the point. As I mentioned at the beginning I cannot predict the future, so I have no idea if this will continue. But this is the first time I have had consistent results for this long.

I have done extensive backtesting and I do feel the method I am using is sustainable, just hope the drawdown doesn't get too bad. I did have 4 consecutive losses a couple weeks ago, but that was after a very nice winning streak so overall the profits were still good. Again, I am tracking the trades in series of 20, hoping each of these is at least somewhat profitable. What happens on any single trade or even 4 or 5 trades doesn't really mean anything.

The other thing about my risk level is that I am only taking one trade at a time. So I see others on here that might be risking 2% per trade, but have several trades on at once, which may be exposing their account to more risk than me. As always each trader must make their own decisions and take full responsibility for their own actions when it comes to managing risk. I typically only take one or two trades a day. I am very strict about not widening my stops, if the trade fails, it fails, no big deal, just move on to the next opportunity.

As long as you can handle the drawdowns it's no big deal. I like to think in terms of R more than I do %, because the percent really only becomes an issue if you have long streaks of losers. I look forward to observing your progress over the next year.

Thanks, I appreciate your comments very much.

Sell EURUSD @1.2993, SL 20, TP 110

SL Hit -22 Net

Buy GBPJPY @140.79, SL 48, TP 150

Exit @141.26, +45 Net

Buy GBPJPY @141.38, SL 45, TP 150

SL Hit, -49 Net

Buy EURJPY @121.74, SL 27, TP 133

Exit @122.07, +31 Net

Buy GBPJPY @141.25, SL 50, TP 150

Exit @142.73, +145 Net

Nice winner today, it had been somewhat of a tough start to March with some losses and also a couple of the winning trades were in drawdown for a long time and almost hit SL a few times before finally turning in my favor. It seemed like I couldn't pick a good trade to save my life, that's the value of being patient and sticking with it, let the market decide what it will give you. Anytime I try to outguess the market it seems like I almost always come out on the wrong end of things.

I did exit this trade just a little early, I actually entered a bit late so I should have had +150 at 142.73 so I went ahead and closed. If I am at the computer and I see that the price is real close to the target a lot of times I will go ahead and take it to prevent a possible reversal, but only if it's very close. And of course I don't just sit and watch the charts all day, just if I happen to be around at the time.

I am done for the week, no trading for me on NFP Friday tomorrow. Good trading to all.

Thought I would post this as a thought for the weekend, from The Disciplined Trader by Mark Douglas.




Objectivity is a big key in my opinion to finding success in the markets. While I respect the opinions of many established traders both on here and elsewhere, I can't let that affect my decisions. I have to make my own analysis based on my own research which led to the development of the method I am using, just as everyone else must do the same. For all the experts that think EURUSD will go down, there are plenty more equally respected folks who think it will go up at any given point in time. Short of flipping a coin, the most objective way to trade is to rely on your own analysis, pull the trigger, and let the trade play out.