My 200 Pips And 20% Weekly Journal

Hello Traders and welcome to my live journal. Here, we, will be making an average of 200 pips per week trading Gold and that should be around 20% equity growth per week. The rules are simple and clear cut and all that remains, as in any successful trading anywhere, is the discipline to follow the system to the letter only making objective tweaks along the way.

Making 20% per week sounds out of this world and I am sure I will get a lot of stick here for even proposing its possible. Well, earlier in my career, i did average http://www.forexfactory.com/showthread.php?t=261494 45% weekly, albeit for half a year or so, so I am sure this should be easier, as it has been so far.

My next post should contain the trading system but you can access my explorer in the meantime.

looking forward to more posts

Thank you

So why aren't you a billionaire by now? 45% every week, you could grow that like nobody's business. And you sure as hell wouldn't be sharing it on forexfactory. What are you selling mate?

There has been no signal for us today but we are already up over 700 pips this week so far so we are not in a hurry to take any but the most genuine of trade signals this week.

Kanzler, I'm not selling anything, this is my journal to document my trades as well as share with other members for mutual growth. Should I, or anyone benefit from this thread, Ill breathe a happier person.

Why Gold? Ill also look to take a deeper look at Gold price theories so that we can understand the history of this precious metal and maybe look to place some long term trades based on this information.

Objectives Of The Trading System

1. Make an average of 200 pips on XAUUSD per week
2. Create an environment of relative discipline in execution of trading orders.
3. Generate low-risk EV+ trade signals EV=Expected Value
4. Dictate sound position sizing and money management principles
5. Create a better trader and person in general out of me

Position Sizing

1. A weekly fixed fractional position sizing of 10:1 on current account balance.

Money Management

1. Take profit at current Pivot+2.
2. Stop Loss at nearest point of S&R
3. Re-entry (not accounted for at this stage)
4. Manual exit at reverse signal

Indicators and Objects

1. 63 Smoothed Moving Average
2. 3 Smoothed Moving Average
3. Daily Pivot Points
4. RSI(63)
5. S&R levels (Manual entry)

Entry Trigger

1. MA crossover
2. RSI above/below 50

Exit Trigger

1. Reversal crossover
2. TP/SL

All entries will be done at the close of the candle.

Seems like we did get some action today, getting two sweet long trades going. Nice profit banked today. 15%

Yesterday was a lovely day as well, we managed to make about 1k. We have so far this week bagged over 700 pips and the 200 minimum limit we've set well surpassed.

No trades for today as yet but im keeping my eye open for a huge move later today

Hello. My friend nice to see your post. I am trader too From Mongolia. My Skype ID is KhangaiFX. Can you add me?

Its been a pretty generous week and we have managed over 1000 pips since the start of this thread. Lets hope the market gods favor continues next week.

Over the weekend we'll look at gold and the common myths.

MongolTrader I will. mine is iansqo

Ur results look amazing I must say

one thing i dont understand is why bother with the rsi as it bassicaly mimics the moving average cross

what time frame do you usually trade? i take it 15 min by your pics but just making sure. have set up Ea to alert me when SMA's cross. Looking forward to testing this strategy next week and thank you for the hard work you put into this. It looks very interesting.

Thank you phillip. Its true the RSI imitates the cross almost every time but i like to have it there for visual effect and confidence boost. You can use Williams percent range (126) with a -50 level as the confirmation level.

Theddreport, yes its the 15 min frame. All the best.

And that's my 20% for this week then traders.

Starting my next trade, ill be recording each trade and adding a comment next to it on explorer as i place the order. This will be to help reduce errors in taking and closing trades.

Ill hope for constructive input from fellow traders.

little bit confused thought you was going to gain 20% not lose it lol by that i mean the open trade what is down 22%

Im not understund, whay you buy 36 lots, on the price where is no cross of MA, and buy on the most hight level1288, where price whasnt, or its somthing what im not undersund corectly?

hey Maghiavelli..wtf?! you lossing all your mony?

Just pick your self up and start all over again. You have proved time and again that you can do it. The only problem I see is that you lose control when it matters the most. You had close to 1000% return, and this was the time to ease the foot off the accelerator and enjoy the fruits of your sweat.

You will be back soon, and very soon, if the past is anything to go buy. If any thing, you inspire us and keep us looking forward.

Regards

jN

Stay strong my friend.......you live and you learn.

hi friend cut the trading and contact me, i may help you

looks he using some EA