My multi-currency trade journal | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

building multi-pair multi-timeframe scanner 48 replies

Multi timeframe multi chart 13 replies

MCTC 3.1 by Buju - Multi Currency True Currency 33 replies

Multi-Lot Multi-Timeframe Position trading 1,477 replies

Trade Multi ECN accounts on Multi Brokers ? 1 reply

Attachments: My multi-currency trade journal
Exit Attachments

My multi-currency trade journal

  • #101
  • Jul 31, 2014 9:04pm Jul 31, 2014 9:04pm
Update as of 10:00 pm EST, 7/31/14
Current month start date: 7/21/14
Current month end date: 8/22/14
Month 3, week 2

Account balance (7/20/14): $164.68
Account balance (7/31/14): $168.79
%gain = 2.5%
Floating P/L = -$22.76
Net Asset Value = $146.03
% Floating DD = 13.5%
Positions open: 33
Average No. units per position = 49
Margin used = $39.01
Margin Available = $107.02
% Margin used = 37%
RISK = ~$2.45 per 500 pips draw down per position (= ~$81 for all open positions)
%RISK = $81/$168.79 = 48%
  • #102
  • Aug 1, 2014 9:22am Aug 1, 2014 9:22am
How would FIFO rules effect your trading method? I suspect far less than mine.
Cheers, Rap.
  • #103
  • Aug 1, 2014 8:32pm Aug 1, 2014 8:32pm
Update as of 5:00 pm EST, 8/1/14
Current month start date: 7/21/14
Current month end date: 8/22/14
Month 3, End of week 2

Account balance (7/20/14): $164.68
Account balance (8/1/14): $169.82
%gain = 3.1%
Floating P/L = -$24.66
Net Asset Value = $145.16
% Floating DD = 14.5%
Positions open: 32
Average No. units per position = 51
Margin used = $37.55
Margin Available = $107.61
% Margin used = 37%
RISK = ~$2.55 per 500 pips draw down per position (= ~$82 for all open positions)
%RISK = $82/$169.82 = 48%
  • #104
  • Edited Aug 2, 2014 6:25am Aug 1, 2014 8:42pm | Edited Aug 2, 2014 6:25am
Quoting Rap Skallion
How would FIFO rules effect your trading method? I suspect far less than mine..
Hi Rap,

If Oanda institutes a strict FIFO, I would need to adjust an aspect of my trading methodology, but I do have several alternative approaches that I could use to minimize its impact...

Dave
  • #105
  • Aug 1, 2014 10:44pm Aug 1, 2014 10:44pm
Oanda has been FIFO for several years I believe... its pretty easy to get around, either use subaccounts or slightly different lot sizes... FIFO only makes you close the oldest order if its the same lot size... so if you have a 1 lot eur/usd long term trade, and you want to scalp or something, scalp a 1.01 lot. Unless new regs change something I dont know about.
  • #106
  • Edited 9:27pm Aug 2, 2014 6:04am | Edited 9:27pm
Quoting trevwest
Oanda has been FIFO for several years I believe... its pretty easy to get around, either use subaccounts or slightly different lot sizes... FIFO only makes you close the oldest order if its the same lot size... so if you have a 1 lot eur/usd long term trade, and you want to scalp or something, scalp a 1.01 lot. Unless new regs change something I dont know about.
Hi Trev,

You're right about Oanda FIFO; I get around it by using a slightly different lot size. I guess I read too deeply into Rap's question, thinking that Oanda might institute a strict FIFO policy where the oldest order is closed first regardless of the lot sizes of newer orders.

Dave
  • #107
  • Aug 2, 2014 6:27am Aug 2, 2014 6:27am
THanks , guys, differing lot size is easy to implement and will radically change my style come Aug 3: I will test this out with IBFX and see if the same is true there.
  • #108
  • Aug 4, 2014 8:17pm Aug 4, 2014 8:17pm
Update as of 8:30 pm EST, 8/4/14
Current month start date: 7/21/14
Current month end date: 8/22/14
Month 3, Start of week 3

Account balance (7/20/14): $164.68
Account balance (8/4/14): $169.77
%gain = 3.1%
Floating P/L = -$24.20
Net Asset Value = $145.55
% Floating DD = 14.3%
Positions open: 34
Average No. units per position = 50
Margin used = $40.54
Margin Available = $105.01
% Margin used = 39%
RISK = ~$2.50 per 500 pips draw down per position (= ~$85 for all open positions)
%RISK = $85/$169.77 = 50%
  • #109
  • Aug 5, 2014 2:21pm Aug 5, 2014 2:21pm
Quoting Rap Skallion
THanks , guys, differing lot size is easy to implement and will radically change my style come Aug 3: I will test this out with IBFX and see if the same is true there.
Not true with IBFX. rejects earlier trade even with differing lot size. Be careful out there!
  • #110
  • Aug 5, 2014 9:33pm Aug 5, 2014 9:33pm
Update as of 10:00pm EST, 8/5/14
Current month start date: 7/21/14
Current month end date: 8/22/14
Month 3, week 3

Account balance (7/20/14): $164.68
Account balance (8/5/14): $170.94
%gain = 3.8%
Floating P/L = -$26.05
Net Asset Value = $144.89
% Floating DD = 15.2%
Positions open: 35
Average No. units per position = 50
Margin used = $42.43
Margin Available = $102.47
% Margin used = 41%
RISK = ~$2.49 per 500 pips draw down per position (= ~$87 for all open positions)
%RISK = $87/$170.94= 51%
  • #111
  • Aug 6, 2014 8:42pm Aug 6, 2014 8:42pm
Update as of 9:00pm EST, 8/6/14
Current month start date: 7/21/14
Current month end date: 8/22/14
Month 3, week 3

Account balance (7/20/14): $164.68
Account balance (8/6/14): $170.91
%gain = 3.8%
Floating P/L = -$29.60
Net Asset Value = $141.31
% Floating DD = 17.3%
Positions open: 35
Average No. units per position = 50
Margin used = $42.47
Margin Available = $98.84
% Margin used = 43%
RISK = ~$2.49 per 500 pips draw down per position (= ~$87 for all open positions)
%RISK = $87/$170.91= 51%
  • #112
  • Aug 6, 2014 9:47pm Aug 6, 2014 9:47pm
Quoting davelansing
Update as of 9:00pm EST, 8/6/14 Current month start date: 7/21/14 Current month end date: 8/22/14 Month 3, week 3
What is the leverage ration in this account ?
Prachait Saxena
  • #113
  • Aug 7, 2014 5:00am Aug 7, 2014 5:00am
Quoting prachait
{quote} What is the leverage ration in this account ?
Hi Prachait,

The leverage is 50:1

Dave
  • #114
  • Aug 7, 2014 6:37am Aug 7, 2014 6:37am
Quoting davelansing
{quote} Hi Prachait, The leverage is 50:1 Dave
I am expecting the same 50:1 , Thanks |
Prachait Saxena
  • #115
  • Aug 7, 2014 10:39am Aug 7, 2014 10:39am
Quoting davelansing
Update as of 9:00pm EST, 8/6/14 Current month start date: 7/21/14 Current month end date: 8/22/14 Month 3, week 3 Account balance (7/20/14): $164.68 Account balance (8/6/14): $170.91 %gain = 3.8% Floating P/L = -$29.60 Net Asset Value = $141.31 % Floating DD = 17.3% Positions open: 35 Average No. units per position = 50 Margin used = $42.47 Margin Available = $98.84 % Margin used = 43% RISK = ~$2.49 per 500 pips draw down per position (= ~$87 for all open positions) %RISK = $87/$170.91= 51%
After having your leverage information 50:1, I did the maths |
I am having a a/c with Same leverage 50:1 with 100 USD {You can see it in my profile}
I am able to open only 5 orders maxmium with the pairs mentioned |

I am qurious to know

1: Which pair you are trading ?
2: How come your number of open orders is 35, where mine is only 5 ?
3: Define "Average No. units per position = 50" with example |

Looking for the answers and I have more questions for |
In the mean time, I am preparing a list of Pairs with the recommendation mentioned in other threads at
https://docs.google.com/spreadsheets...it?usp=sharing

Thanks, Prachait
Prachait Saxena
  • #116
  • Aug 7, 2014 10:40am Aug 7, 2014 10:40am
Quoting Rap Skallion
{quote} Not true with IBFX. rejects earlier trade even with differing lot size. Be careful out there!
Hello Rap |
Kindly define, what you mean by " rejects earlier trade even with differing "
Prachait Saxena
  • #117
  • Edited Aug 8, 2014 4:50am Aug 7, 2014 11:18pm | Edited Aug 8, 2014 4:50am
Hi Prachait,

please read my first post in this thread; it essentially describes my trading style with regards to the questions that you asked. In a nutshell, I trade all 7 majors and the 21 crosses. At any given time I have at least 28 positions open. My broker is Oanda, which allows nano lot position size (called "Units", where each unit is equal to the value of 1 pip). Because of the nano lot size that I take for each position and the 50:1 leverage that Oanda offers, my margin use per position is extremely low. This is the reason that I can have so many open positions. The "average number of units per position" is simply the sum total of all units I have open divided by the number of positions I have open.

good luck with your trading..
hope this helps.

Dave
  • #118
  • Edited 4:46am Aug 8, 2014 4:35am | Edited 4:46am
Note: Currently, due to limited internet network service, I won't be updating my trading results until either Sunday evening (August 10) or Monday (August 11). Ugh....

Dave
  • #119
  • Aug 8, 2014 5:02am Aug 8, 2014 5:02am
Quoting prachait
{quote} Hello Rap | Kindly define, what you mean by " rejects earlier trade even with differing "
In some brokerages where Fifo is enforced, if you have an earlier trade open with .5 lots, and you wish to close for profit a later trade with 1 lot, the broker lets you do this. IBFX does not allow this. furthermore, all entries in the same pair must have the same Take profit point, or none at all.

You can open more than one entry, but what you are doing is increasing your commitment to the take profit of the first trade. There comes a point in profit with the later trade where you can close the earlier one in loss to take profit in the first, but it is not nearly the same thing as taking profits again and again with later trades and letting the earlier one ride until it come into profit.

I have responded by closing a bunch of trades in loss, until now when I have almost solely single trades going among the pairs I trade (several are not moving at present in a direction I like. I try to trade with the swap or not at all.

The next step is to open a separate account, where the early trades are not seen. And probably with a different broker who is more willing to let me trade the way I want.

Meanwhile, I have a chance to see how well I can do with a single trade per pair. So far, not so well.
  • #120
  • Aug 8, 2014 8:32pm Aug 8, 2014 8:32pm
Hello Dave,
Tell me more on

Quoting davelansing
Hi Prachait, My broker is Oanda, which allows nano lot position size (called "Units", where each unit is equal to the value of 1 pip). Dave
and send me the reference link about nano lot positions / Units on Oanda, so that i am learn from there and get back to you |

Prachait
Prachait Saxena
0 traders viewing now