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All Indicators Trading system

  • #1,941
  • Jan 18, 2014 5:10am Jan 18, 2014 5:10am

As mentioned in previous posts , I had a rude awakening this week .I have made a few changes to my system as below


1.I will only trade a maximum of 8 trades the whole week.

This wont affect my recording of all other trade signals I get .I will pick and choose which ones I will take and which ones I will leave

2.I will only trade a maximum of 1.6% risk per trade ( or equivalent of £1.45 * 40 Pips for some of you like Bradu to understand )

3.The above point makes it clear that I will start risking 40Pips per trade as standard instead of my usual 30, but this depends on the trade


Everything else stays the same


I will get there in the end.I am proud that I had spent almost 2 months now without losing my nerves and discipline , the longest period for me since 17 February 2013.I credit all this to experience and recording of all occasions of what happens every time I lose my discipline.In majority of cases I have lost money and this has helped me stop the habit .I encourage anyone who is reading this post to do the same , just record every trade you take and the reason for that trade , in the long run , your trading will improve , trust me


HAPPY TRADING

Attached File(s)
File Type: xls Actual Vs All Ind Week Commencing 19-01-2014.xls   423 KB | 280 downloads
  • #1,942
  • Jan 18, 2014 10:45am Jan 18, 2014 10:45am
Quoting tafadzwa02
As mentioned in previous posts , I had a rude awakening this week .I have made a few changes to my system as below 1.I will only trade a maximum of 8 trades the whole week. This wont affect my recording of all other trade signals I get .I will pick and choose which ones I will take and which ones I will leave 2.I will only trade a maximum of 1.6% risk per trade ( or equivalent of £1.45 * 40 Pips for some of you like Bradu to understand ) 3.The above point makes it clear that I will start risking 40Pips per trade as standard instead of my usual 30,...
Now I get it, I think you got it all figured out, Congratulation and always stay discipline. You will surely get to your destination as long as you remain Focus.
  • #1,943
  • Jan 19, 2014 12:01pm Jan 19, 2014 12:01pm
I unsubscribed from you tafa. not that I am angry at you or don't like you because I have no reasons to. Last friday you proved you can't trade, you overleveraged, you made lots of mistakes (but I am happy you earned a lot, just bear in mind that not every day will be like that), but somehow I used to like to come to your topic and check you - and waste time this way iso focusing on more important things browsing internet takes me too much time, time I can use on reading etc.
I wish you good luck and all the best, hope you'll get there, but still long way in front of you
On my way to financial independence - if others can do it - I can do it
  • #1,944
  • Jan 19, 2014 2:22pm Jan 19, 2014 2:22pm
Quoting Eur Usd
I unsubscribed from you tafa. not that I am angry at you or don't like you because I have no reasons to. Last friday you proved you can't trade, you overleveraged, you made lots of mistakes (but I am happy you earned a lot, just bear in mind that not every day will be like that), but somehow I used to like to come to your topic and check you - and waste time this way iso focusing on more important things browsing internet takes me too much time, time I can use on reading etc. I wish you good luck and all the best, hope you'll get there, but still...

  • #1,945
  • Jan 20, 2014 6:10am Jan 20, 2014 6:10am
Quoting tafadzwa02
As mentioned in previous posts , I had a rude awakening this week .I have made a few changes to my system as below 1.I will only trade a maximum of 8 trades the whole week. This wont affect my recording of all other trade signals I get .I will pick and choose which ones I will take and which ones I will leave 2.I will only trade a maximum of 1.6% risk per trade ( or equivalent of £1.45 * 40 Pips for some of you like Bradu to understand ) 3.The above point makes it clear that I will start risking 40Pips per trade as standard instead of my usual 30,...
Its actually 10 trades per week MAXIMUM , not 8, about 2 trades a day with a maximum risk of 1.6% ( or equivalent of £1.45 * 40 Pips ) per trade
  • #1,946
  • Jan 21, 2014 11:09pm Jan 21, 2014 11:09pm
I'm glad to see that you're bouncing. Keep focused, disciplined and most importantly, BELIEVED in yourself.

The moment you'll doubt yourself, it is going to hurt your account more.

Cheers,
FxTurtle
Fear prevent possibilities, and so does Greed
  • #1,947
  • Jan 22, 2014 10:59am Jan 22, 2014 10:59am
Quoting xtrader101
I'm glad to see that you're bouncing. Keep focused, disciplined and most importantly, BELIEVED in yourself. The moment you'll doubt yourself, it is going to hurt your account more. Cheers, FxTurtle

  • #1,948
  • Jan 22, 2014 11:20am Jan 22, 2014 11:20am
1.45 lots in EU ....common i know you want 10-20 lots

anyway, it is a pleasure to watch your progress

hope you`ll get over that 5000 barrier
  • #1,949
  • Jan 24, 2014 8:03am Jan 24, 2014 8:03am
I have "discovered" something amazing .
Only 10pips per day , you can never go wrong try it yourself
  • #1,950
  • Jan 25, 2014 1:02pm Jan 25, 2014 1:02pm
Quoting tafadzwa02
I have "discovered" something amazing . Only 10pips per day , you can never go wrong try it yourself
Master Yoda,

Trading successfully is about Reward/Risk. How much are you risking to obtain 10 pips? Are you risking 5 pips and when it's stopped out, you will call it a day or you will continue trading and I bet you will.

What is REALLY your PLAN of ACTION?

First, you made a VOW NEVER to hold a position over the weekend, but I see one now. Hoping for the price to get back up? It may go back up, but the point is you BROKE your vow.

You're going down the wrong path my friend.

Cheers,
FxTurtle
Fear prevent possibilities, and so does Greed
  • #1,951
  • Jan 26, 2014 5:43am Jan 26, 2014 5:43am
Quoting xtrader101
{quote} Master Yoda, Trading successfully is about Reward/Risk. How much are you risking to obtain 10 pips? Are you risking 5 pips and when it's stopped out, you will call it a day or you will continue trading and I bet you will............
This is not your conventional trading stlye .It's is called 10pips a day Trading startegy .SMASH, GRAB and RUN type of trading .Risk reward is not really necessary ( not strict ) but will be ideally at 2/1 i.e Risk = 20 pips , Reward 10 pips .
Its all about 10 pips a day at the end of the day .Get that trade that will "definitely" move at least 10 pips in your direction and cash out .Simple as that .If you don't win first time , no worries , try again , at the end of the day , you should get 10 pips profit , bottom line .
This is the long and short of this strategy

NB:This type of "trading" is still on trial that why I am not really bothered about it.Test resluts will show whether its possible or not

Quoting xtrader101
{quote} ...... What is REALLY your PLAN of ACTION? First, you made a VOW NEVER to hold a position over the weekend, but I see one now. Hoping for the price to get back up? It may go back up, but the point is you BROKE your vow. You're going down the wrong path my friend. Cheers, FxTurtle


I am not really sure what you mean but if its about BREAKING my vow , well I simply could not close the trade because I was stuck somewhere where there was no network and I simply could not close.When it comes to trading , I am 100% true to myself otherwise there is no point of spending all the time I spend recording stats that I never use.I am sticking to my plan and the plan is to follow my system to the letter .Sometimes I simply can't trade according to plan for various reasons , but I always record those scenarios .

examples

when I am working ,
when I am stuck in underground ( like what happened Friday and could not close my trade)
when I am not connected to my internet for what ever reason
when I am doing a school run in the morning

I am happy with the direction my trades are going

  • #1,952
  • Jan 26, 2014 7:58am Jan 26, 2014 7:58am
Quoting xtrader101
{quote} Master Yoda, Trading successfully is about Reward/Risk. How much are you risking to obtain 10 pips? Are you risking 5 pips and when it's stopped out, you will call it a day or you will continue trading and I bet you will. What is REALLY your PLAN of ACTION? First, you made a VOW NEVER to hold a position over the weekend, but I see one now. Hoping for the price to get back up? It may go back up, but the point is you BROKE your vow. You're going down the wrong path my friend. Cheers, FxTurtle

Here is this thing about taking profits: Your risk for that trade falls to zero. You have money in your hand. You have increased ability to take up a good trade setup.
What is not to like?

It is not only the risk you take, but the length of time you endure that risk, that increases the chance that you will not succeed. It's a Goldilocks thing: that length of time also increases the chance that you will succeed. This depends upon the question, will the market head your way? If it is, wait. If it is not, what are the chances it will turn around? If they are low, why wait for some arbitrary stop loss?

Reward and Risk may not be what you think they are...

You go , Mr. T.
  • #1,953
  • Jan 26, 2014 7:31pm Jan 26, 2014 7:31pm
I hope this works for you in a SUSTAINABLE period because from what I observed, nothing sustainable works so far. There are burst of profit then followed by bust within a matter of hours if not days.

Cheers,
FxTurtle
Fear prevent possibilities, and so does Greed
  • #1,954
  • Jan 27, 2014 5:03am Jan 27, 2014 5:03am
Quoting xtrader101
I hope this works for you in a SUSTAINABLE period because from what I observed, nothing sustainable works so far. There are burst of profit then followed by bust within a matter of hours if not days. Cheers, FxTurtle
This is called PRACTICAL experience.Over time , this account will be "perfect", trust me
  • #1,955
  • Jan 27, 2014 6:23am Jan 27, 2014 6:23am
This week ( like every week) I am on 1.6% risk per trade ( or equivalent of £1.42 * 40 Pips )
Please find attached for more information

Happy trading


Attached File(s)
File Type: xls Actual Vs All Ind Week Commencing 26-01-2014.xls   428 KB | 203 downloads
  • #1,956
  • Jan 28, 2014 2:46am Jan 28, 2014 2:46am
Quoting tafadzwa02
I have "discovered" something amazing . Only 10pips per day , you can never go wrong try it yourself
This 10pips per day is not as simple as I thought
  • #1,957
  • Jan 28, 2014 12:43pm Jan 28, 2014 12:43pm
Quoting tafadzwa02
{quote} This 10pips per day is not as simple as I thought
There maybe thousands of traders who went this way before you and are part of statistics now. I am just guessing.

The issue with 10 pips per day is that you must have a super accurate trading system that can fetch 10 pips without risking too much.

If you have an 80% win rate, and the 20% will result in -40 pip lose, you're just breaking even.
If you have an 85% win rate, and the 15% will result in -40 pip lose, you will be ahead.
If you have an 95% win rate, and the 5% will result in -40 pip lose, now you're cooking.

Now try with different stop loss, perhaps -20 or -30 or -50.

But like I said, many went this path before you and never made it. Again, i'm just guessing.

Cheers,
Fxturtle
Fear prevent possibilities, and so does Greed
  • #1,958
  • Feb 1, 2014 7:30am Feb 1, 2014 7:30am
This week I am on the equivalent of £1.45 * 40 Pips .Please find attached for more information .

Happy trading

Attached File(s)
File Type: xls Actual Vs All Ind Week Commencing 02-02-2014.xls   427 KB | 241 downloads
  • #1,959
  • Feb 5, 2014 12:58am Feb 5, 2014 12:58am

IMPORTANT INFORMATION

My trading as an experienced trader ACTUALLY started on the week commencing 19 January 2014.Everything else was part of a learning process

  • #1,960
  • Feb 5, 2014 1:06am Feb 5, 2014 1:06am
hi,

could you explain your aove statement ?
what made you say that

(and by the way: i saw you took a 1.45 x 40 pips stop in eu....twice again )

thanks in advance
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