The Due Diligence Fund (PhotoBook)

This is for personal use only.

Intro

Q: Why are you trading?
A: I have always loved trading. When I was 12 I would trade world of warcraft accounts on markeedragon.com for money and better accounts. I couldn't get enough of it. Then when I was 13 I went to a week long stock trading camp on the basics and had been in love sense. The reason I am trading forex is because I like to be able to focus on only 4 pairs instead of 1000's of companies if I was trading the stock market. I also like that it trades 24/5 instead of 8-3 with big gaps every day.

Q: How has this changed over time?
A: As I became unprofitable I noticed that it no longer seemed as if I was trading because of the love of the game so to say. I started to feel like all I wanted in trading was to have huge profits on each trade and to be trading with massive volume(ex: I wanted to be a big player/I began to over reach). I need to get back to how I was before. Trading just for the love of the game. Not because I want to be able to say I trade with huge volume, or I made so and so money. I want to trade because of my love for trading.

Q: What are your expectations?
A: I am expecting to consistently grow my net worth for the rest of my life. Trading forex is my retirement plan. I am just beginning it while I'm young. My overall goal is to gain 10,000%(no deadline). Ideally I would like to see returns of about 20% each month. That being said I will not worry about goals or dead lines and I am just going to take it trade by trade.d

Q: When do you realize you are wrong?
A: Once roughly 2.5%-5% of account has been losses on the position or once my stop loss is hit. If neither of these have occurred but a buy or sell signal in the opposite direction of the trade has occurred, I will exit the position.

Mental Plan: I am going to practice discipline, humility and patience in every day aspects of my life. I am going to focus on living more of an optimistic life. Two of my favorite quotes that go well with my mental plan are:
"I am an optimist. It does not seem too much use being anything else." Winston Churchill
"Be at War with Your Vices, at Peace with Your Neighbors, and Let Every New Year Find You a Better Man" Benjamin Franklin

The 4 P's To Profitability

1. Preparation - Make sure your charts and indicators are prepared every day(S/R Levels Drawn, EMAs, etc).
2. Patience - "A man who is a master of patience is a master of everything else." George Savile
3. Price Action - Respect and recognize the price action. Only trade with the trend.
4. Pull The Trigger - Never be scared to take a profit and remember if you can't take a small loss your only going to take a bigger one.

Focus Pairs(Currently 8, Subject To Change)
EURUSD
GBPUSD
AUDUSD
NZDUSD
USDCHF
EURAUD
USDJPY
GBPCHF

Position Size
$1,000.00 - .10 Lots Per Position
$2,000.00 - .20 Lots Per Position
$3,000.00 - .30 Lots Per Position
$4,000.00 - .40 Lots Per Position
$5,000.00 - .50 Lots Per Position
etc

Long Entry Rules
TDI Must Have Cross Upwards
HA Must be Blue
You may not enter the trade if more than 2-3 Blue HA candles have already formed.

Short Entry Rules
TDI Must Have Cross Downwards
HA Must Be Red
You may not enter trade if more than 2-3 Red HA candles have already formed.

Entry Examples(Taken from the Trading Made Simple Thread)

EU Long

UC Short

Trade 1


Trade 2

UJ Long Entry Wretched Trade

GBPUSD Long Part 1

GBPUSD Long Part 2

AUDUSD Entry Bad Trade

I will no longer be posting photos as I don't see the need since Trade Explorer has pics of all of them already. This will become more of a traders log with my thoughts/etc.

Took a bad AUDUSD short last night and lost more than I should have on it. Will be working to make it back. I need to let the market do the work for me.

On that note I have started basketeering a bit.

Glad the week is over. Excited for the next one.

I was setting up an EA so i can enter the markets with macros and they were not set up correctly costing me many pips x.x

nothing too crazy but I'm Glad its fixed now haha

One thing you didn't address in your OP: When do you admit to yourself that it's time to take your losses and quit?

Ty for pointing this out to me. i will add this to my original post very shortly.

So far the week has been alright. Holding C14 Basket and JPY7 Basket long. Both are in the money about 400 pips. JPY7 looks like it really wants to break out.

Im going to start posting the pics of the basket charts so I can see what the actual trade looked like instead of looking at the individual pairs of the basket when I go back.

JPY7


Closed as price is reversing strongly.

+190 pips roughly

C14


Closed as Price is starting to go back down
roughtly +130 pips

After reviewing those trades I realized I should have used my TP levels that my EA sets(Both were hit). Would have locked in many more pips.

C14 Sell Trade Triggered




closed trade for +88.5 pips

Not sure what happened since VPS is screwing up and won't save screenshots due to storage issue so i don't have a pic of that last closed position. After closing the position the EA got short C14 again

Price going to turn around?



closed basket via auto protect ea for nice 311 pips. Will be looking to short again on 15 min once price bounces

Got my EA all worked out. I figured out this basket above was opened because I had two conflicting with each other. This should no longer happen.

NOTE: I will only be trading the C14 Basket(More Diversity).

RE entered basket short. 4 hour just closed red HAS and printed two reds on the I-XO-A-H's This usually means a strong downtrend is likely to play out. Might be a quick drop once price breaks through resistance.

JPY Pairs currently squeezing my basket. The other 8 pairs are basically hanging around the entry points.



Current HAS
Daily: Red(May Close blue today)
4H: Red
1H: Red
15M: Blue

Watching for 15 min to turn red again to continue downtrend.

Also since the JPY pairs have been leading this charge on the basket I have been watching USDJPY for it to turn around

Currently facing resistance @ 102.40