My multi-currency trade journal

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I think it would be better for the performance if you would let grow the winner in the portfolio and cut the loser with -1%. didnt you have problems yet because of drawdown? Either you are a finance genius and you have a 100% hitrat or you must have luck. i would test it on demo account

Thanks for your comments srt...

The reason for my closing the profitable positions (once my 1% gain is achieved) and then immediately reopening the same positions is to increase my balance, which then allows me to increase the number of units I can purchase per new position. My back testing indicated that this was the most efficient manner to rapidly increase my account while allowing me to decrease my RISK.

Dave

Thank you for your comments fx902...

I'm no financial genius, lol... and by no means is this the "holy grail", but the results of my back testing (over a seven year period) has given me the confidence to trade this approach on a "live" account.

Dave

My englisch isnt very good but i think i have understand it right, that negative trades will be floating; that means that they are dont closed and you wait until they are positive? Sorry, if i havent understood it yet. If this is right it you have to be a adrenalin-dopehead; On this way you risk your hole account. i cant imagine that this works over 7 years.

Yes, fx902, the negative positions will be floating.. these trades will be closed when the net balance of the entire portfolio of positions (both positive and negative) hits +1% of my account balance. As an aside, I'm not an adrenalin-dope head, lol... My back testing of the 28 currencies over the 7 year period was very laborious, since I had to do it manually, but I was very pleased with the results.

i didnt want to make your strategy, i just wanted to say you live very dangerous to trade without stopp loss. i personally would never forget a stopp loss in margin tradin.

greeting

Update as of 8:00 pm EST....


Account balance: $108.67
Positions open: 28
No. units per pair = 40
Floating P/L = -$5.14
Net Asset Value = $103.52
% Floating DD = 5%
Margin used = $27.56
Margin Available = $76.06
% Margin = 36%
RISK = ~$2.00 per 500 pips draw down per position (= ~$56 for all open positions)

I'm sorry; i didnt read it; i didnt know that you just trade a gambler account; but if your broker doesnt have a airbag function... Forget it; i looked at your Thread because i thought that here would be a excel journal.

Hi fx902,

Everybody is entitled to their own opinion. This is not a "gambler account"; I don't need to defend my strategy as my extensive back testing is proof enough for me.

Dave

Just like i said do what you want; but i think a bigger demo account would be funnier than this real money account;
I am new in this forum and thought it would give here Journal exampls in xls.

Greeting

Update as of 8:00 pm EST....


NOTE: will include %gain (account balance) from start of the monthly period; current month started on May 21 (please see post 1)


Account balance (5/21/14): $104.59
Account balance (6/3/14): $109.80
%gain = 5.0%
Floating P/L = -$5.24
Net Asset Value = $104.56
% Floating DD = 4.8%
Positions open: 28
No. units per pair = 40
Margin used = $28.88
Margin Available = $75.70
% Margin = 38%
RISK = ~$2.00 per 500 pips draw down per position (= ~$56 for all open positions)

Wow , are we similar. Have you been spying on me?

I will follow your account with interest. I honestly think the better you do, the better will I do, we are that similar...

Are you my Doppelgaenger? Do you look like me? I hope not, for your sake.

Thanks Rap...

I look forward to your insights!

Dave

BTW, I look like this....

Update as of 8:00 pm EST....

Account balance (5/21/14): $104.59
Account balance (6/4/14): $110.93
%gain = 6.1%
Floating P/L = -$5.96
Net Asset Value = $104.96
% Floating DD = 5.4%
Positions open: 27
No. units per pair = 40
Margin used = $27.01
Margin Available = $77.95
% Margin = 35%
RISK = ~$2.00 per 500 pips draw down per position (= ~$56 for all open positions)

The balance increases faster than the equity, and that upsets some.

My thinking is that, as long as you are generally going with the long -term trends, the equity will catch up to the balance, sooner or later.



They don't have one of those with a goatee.

Update as of 8:00 pm EST....

Account balance (5/21/14): $104.59
Account balance (6/5/14): $112.01
%gain = 7.1%
Floating P/L = -$6.15
Net Asset Value = $105.85
% Floating DD = 5.5%
Positions open: 27
No. units per pair = 40
Margin used = $26.77
Margin Available = $79.08
% Margin = 34%
RISK = ~$2.00 per 500 pips draw down per position (= ~$56 for all open positions)

You've had several very quiet days and at least one wild one, and still your equity grows.

Rap,

The nice aspect about this trading approach, as "boring" as it is, is that during wild volatile days I'm no longer sitting on pins & needles due to wild swings in my equity (when I was a large lot single position trader). In fact, now I relish volatile days because my %DD doesn't move much due to the spreading of my risk across multiple small positions, yet still gives me opportunity to take profit (as long as that net profit is at least 1% of my balance). As I stated in post #1, after reading, re-reading, and studying posts by you, Bilstein, and NanningBob, I finally had the "ah ha" realization regarding the efficacy of small position sizes coupled with multiple currency positions.

Dave

im also multi currency trade,one day i hope to open my journal. by the way good job davelansing

here is my multi currency @FF :http://www.forexfactory.com/waktong#70