My Journal

Gentlemen/Women, Welcome to my trading journal! I intend on documenting the growth of my trading methods over the next several weeks (possibly months) in this thread. Feel free to criticize, give advice, or post funny pictures . I will not be disclosing exact methods, the occasional statement will be displayed (demo mostly as this is testing). I wish to develop mainly Money Management that fits with the Trading Strategy.

My method was developed off of past experiences using numerous methods, but key components for my strategy were inspired by the Similarity Thread, Buried Treasure, TZ's Basics by vlady, Similarity: A Practical Approach, a handful of traders, and God Almighty

So far my System has the following qualities and components:
Trading Strategy:
High accuracy 80% - 98%
Multiple Entry points for increased growth
Reasonably Accurate Entries and Re Entries (enters at tops and bottoms pretty well)
There is occasionally Large DD

Current Research remaining:
What is the maximum allowable holding time?
What is the maximum that price can deviate during that time?
Largest Loss in History? How many consecutive Losses have occurred?
Stats were based off of history with news, how does this strategy do by avoiding trades near news?

MM... that must take into consideration DD and the above mentioned Price Deviation:
Initial Lot size % based on Equity? That allows numerous Re-entries (How many Re-entries can be expected?)?
Maximum Allowable DD before closing all trades, or treating each trade individually?
Recovery method after a loss?

Personal Goals:
Gain more experience coding
Build an EA on the above System for testing only (I prefer Manual Trading)
Develop Greater Patience
Find consistency in this trading venture and help my friend in need

So far these are my results with yesterdays demo account, trading manually about 8 hours. There are prior demo accounts with not so pretty looking curves that were during earlier tests. I'm trading aggressively with random lots until I can determine maximum moves against my position and correct Initial lot size based upon that, this demo account will be active for as long as possible until it blows up or I find a flaw in my obviously under developed method lol, lots of work left to do...

PS here's a picture of the equity curve, trading 0.05 - 1 lots on $1000 account (demo)
The indi that created that curve for me is attached, thanks again to this forum for sharing that indi with me in the 1st place!

subscribed!

good luck.

Thanks juri! I read all your posts I'm a big fan! lol!

So far so good I've started trading live with a very small account, to pressure me to use MM. Trade explorer is attached.
I'm using FX Synergy, and a handful of EA's to help with my manual trading, I disable pending orders 1 hour before and after the news as I need to do more research regarding news events.
Currently working on:
- Exact method for recovery after series of losses, I have a decent plan but nothing concrete <- This is high priority, I could get blind sided by a series of losses!
- Developing an EA to close orders all orders... within a time limit relative to the 1st order that was opened in that "group"... "H"
- Research All Pairs and Document which ones are most reliable with my method

I'm happy thus far, I'm trading reasonably aggressive, with numerous re-entrys while using the stop loss from the 1st order I placed for orders that follow.. they end up have better R:R because tighter SL which is great
I do this because I rarely expect Price to deviate far from my entry, and when it does deviate it manages to come back to the original entry at the least, so I use larger lots but same SL for rentry. Once I have the EA setup to close orders within "H Bars" of the 1st entry I will feel a little bit more secure!

I also want to do a bit more research on TZ tops/Bottoms which is currently not part of my strategy... and see how much price deviates upon re-visitation to that area in the future... set a SL based off ADR Value and create a Manual grid of orders back to the original order or just above it... if Price does deviate the strategy generates more profit, if price explodes the wrong way all orders are closed by ADR value Stop (exploding Price is why I currently need to research News Events).
(The strategy doesn't involve Martingale, or a "set" grid... the grid instead is created based off of Past Areas of price that will likely be hit... not SS btw for those who might be wondering, grid values are related more to similarity *hint* and also another Indicator that is linked to more traditional basic PA)

Thanks for reading guys!
Godbless!

So far 3 losses have occurred:
2 of them were due to visual trading with no system!... a rookie mistake, jumping into a trade with no research or plan to back it up
3rd loss was due to a misplaced entry using the system, I jumped into a position instead of waiting for the correct setup

Glad the system is holding thus far, even on trades that I did not enter on. The market offers numerous trades but my screen time limits the amount I can trade, I'm currently developing an EA to help notify me on potential setups.
Still have to document all trades this weekend, details such as price deviation, # of re-entries possible, and time limits.
Still working on finding a correct balance between growth and "guaranteed" recovery after a series of losses

EDIT: Another small loss, I just realized how much larger spread pairs/volatile can hurt me for shorter duration trades. Another thing I'll look into...

I'm back! I took sometime off from trading to do some research, programming, and sort out a few personal matters. I completed most of my research on the prior mentioned topics, and a handful of new topics.
The current method has an accuracy of 80 - 97% regardless of time frame or period of time that the method is applied to
There are no re-entries (martingale or same lots) each trade is independent.
The R:R is 1:1.5 up to a maximum of 1:10
Positions are held from a few hours to several days, and very rarely up to 3 weeks
Trades take into account Longterm Fundamental Bias both Retail and Institutional
Trades are placed at anytime, regardless of news events
Maximal Drawdown is currently set to 35%, monthly growth is from 10 to greater than 40%
Risk is .3% to no more than 7% per trade, (I never will use the 1% per trade logic, a high probability trade should have greater funds committed to it than one of lower probability)
Total ongoing trades risk will never exceed max DD

Fully Automated! (I occasionally throw in my own scalps here and there)

What has been lost:
Accurate Top/Bottom entries in exchange for better R:R (Exits)

Been trading since Dec 24 till Jan 31st with very small lots on my live TE while I was tweaking the programming. I began trading again on Feb 12th with healthy lot sizes, and will stay that way. The TE is off to a healthy start and hopefully it stays that way God willing.

Things completed:
Do news events change the accuracy? Not at all, the accuracy includes all past news events
Re-entries allowed? No. Re-entries are not allowed they increase DD dramatically and Growth... I would rather have a stable growth account than a high growth high risk account.
How much can price deviate? No longer important
Since the R:R and accuracy are good no recovery plan is needed, increasing lots sizes after losses only increases DD. The account recovers just fine under 3 weeks in the extremely rare event of 3 major consecutive losing weeks.


Things I need to do:
Automate a few more filtering methods
Read more about Fundamental analysis ( might learn something new )

Can u share with us ur strategy or what you do or think before ur entry?? thank you and goodluck in ur journey!

The strategy I described might sound amazing, but the research which consists of testing past data and a few small forward tests does not mean it will be viable for future trades. I will describe my basic method in a bit more detail to you and others that are interested in a new thread in a few weeks, sorry for the delay but I am a bit busy. But Thanks for the well wishes and same to you brother!

For newcomers Please don't ask questions here this is my Trading Journal, I will repay this community in due time!

The following is a very very basic explanation of what I do:

I will say that I would not call it a concrete "system." I do intervene with the EA several times a day and have a growing list of things I need to fix/add. The EA I use as a trading tool and not a set it and forget it type system. I also do fundamental analysis every weekend to confirm currency bias, I usually check out Morningstar.com and a few other sites even though they are Stock and not currency based sites... they do provide good Economic Info... Example. I might check out several major sites and literally do a tally of what the bias is for USD < This right here simplifies Fundamental Analysis for the Technical Day Trader that might not have time to do in depth research, I have not had any issues with it yet!

IF Bias is long all my positions will be long for that currency, if I hedge the hedge will be of smaller lot size and for a shorter duration. My Entries are done by...(below):


The trades are partially placed using MTZ theory, also known as "Mid Transient Zones" you can see a few examples in pictures via my prior posts or by searching Forex Factory. Also I attached an example of one... You will see that counter trading a CONFIRMED MTZ is a very solid beginning to a "system," I trade very small lot sizes and am not looking for stupid amounts of growth. I have the mentality: "how many large trades can I lose and still recover from?" <- that is my trading moto, as long as I make slow growth I'm happy, consistency and recovery are key... always be ready for a major loss or series of losses. Most traders lose money, most traders have the mentality "make money make money" but if you approach the markets with a conservative mentality: "conserve money conserve money" you may have better success than the 1st group , and why not try something different than the majority considering that the majority is losing

Here's a picture showing a MTZ that could be traded. (the trader would put a short limit at the blue line at the top of the yellow box) Please do read about MTZ on other locations around FF there are many people that have spent good time describing how to trade them (I Use the Counter Trading method) don't ask me as I'd just be copying and pasting info from others...
PS IGNORE THE 0.01 LOT BUYS THEY ARE NOT MY TRADES THIS PICTURE WAS TAKEN FROM LOWPHAT THEN EDITED BY ME, FOR DISCUSSION REASONS



I suggest you read about Transient zones via the various threads here, and find/download a version of Kprsa's Recurrence Indicator + Xixi's Transient Zone Indicator both of which are posted somewhere here on FF. I am very thankful for learning about MTZs and Transient Zone's they really gave me new perspective on my trading. Goodluck!

I believe success in trading is based off of effort and not experience/age, some people trade for years and never find consistency while others trade for a short period of time and get results... this is due to effort, definitely not experience! Always look for verified trading proof or a reputable vouch before following any method it'll reduce time wasted in this competitive trading environment! I also ask questions, such as the following when I am developing, example: "most traders use MA and RSI etc. most traders fail" < because of this I know I should steer clear of these types of methods, "Most traders use 1% risk per trade," "Most traders use bad R:R," "Most Traders don't use larger Timeframes..... etc etc etc you get the idea. These questions will help give you a new/better perspective, question all your methods and that of traders around you even people that are/appear successful. Make a list of what most traders do and realize that most traders fail, then make a list of things most traders don't do.. These lists will help you stay focused and influence your development, and help keep you away from that "sheep" mentality (blindly following each other)


Thanks for taking an interest in my methods brother I will have a thread in the future dedicated to teaching others, when I am at a point where I can consider myself "good enough to teach." I don't want to be arrogant and cause someone that has faith in me to lose money due to my potentially flawed methods like the many "gurus" around...


Thanks brother I'll stay in touch.

Hello Rparm
I hope you are still gonna update your journal. This method you outlined just above stroke a chord with me as at the time i was doing something a lil bit similar.
I hope you had success with it and good luck in your trading.

interesting, the trading strategy and methods are helpful

I do believe it's important to have Faith in yourself as well as God, if you are an athiest then having Faith in yourself is still very important: it keeps you humbled and focused, faith creates a positive environment in which your dreams can thrive




A few people have been asking me about my trades, I will of course never share my complete methods or sell my methods. I will share Insight with you that is more valuable than just cheap estoric talk. Although the following contains no technical information it does have a few things if looked upon with it a unique mind can be beneficial to the reader

Although my methods are not based exclusively around Mid Transient Zones, all of my trades are based around analysing rare events and taking advantage of any similarities between them. If you are an aspiring or struggling trader understand the following fact: The majority of traders lose, the majority of the methods used by these traders fail consistently. If you don't want to lose, don't use any method used by the failing group of traders.

Any system that you can Google doesn't work consistently for long periods of time. No successful trader would ever share/sell their profitable methods. Develop your own ideas and understand the following: You are human, capable of adapting to any situation, you can thrive in whatever you do given you have enough Faith. Faith will keep you focused upon your goal no matter how great the obstacles; Faith will keep away depression and feelings of negativity that only hinder progress, Faith will allow you to make the sacrifices required to succeed.

I'll tell you all now that I was never top of my class in High School, I don't have any College or University Degree. I'm a young introverted man, I am an Industrial Electrician, I enjoy Programming and working with PLC's, High Voltage Equipment, and Various Industrial Machinery. I like Working out, Meditating, and Eating Well, I live a healthy lifestyle... in short you can call me a recluse...
I like testing out the most wackiest of theories because I know the crazier the idea the greater the probability of it succeeding... Why you ask? The answer is simple, if an idea is "run in the mill" a simple/already done/known by the masses type idea... it has great probability of failing. If the herd fails over and over again, why would you ever want to use any of the methods they use?
..Think use your brain. Your brain has the same potential to succeed as have/did the minds of the greatest inventors, pioneers, and scientists of this world. Develop Unique Perspectives. You can do it. Godbless and Goodluck

Rparm

I check other people trading system out of curiosity but especially to get more ideas or find pieces of information that is gonna make my own trading better. I stop believing long time ago that its possible to find a profitable system online in general and on this forum in particular. I trade ( demo ) only my own crazy ideas and who knows, maybe someday i ll stumble upon something. For the moment im playing with hidden gaps and martingale.

Hey to my Subscribers, Thread Lurkers and Forex Factory Members

I'm sharing an indicator that I've found a bit helpful in the past. It helps display ranging/trending periods. It's a simple EA that Applies a Moving Average to the ATR Indicator.
Some of you may find it helpful. As always all I ask is that you redistribute for free, and if you manage to make use of it I wouldn't mind being involved in further system development.

I have used it on the 1 hour Chart (EURUSD) to visually display ranging/trending periods. Of course the Indicator is lagging because it will show the change from Trending to Ranging and vice versa after the Price Action already made it's move

When the Blue (Aqua) Line is Above the Yellow ATR line it means the market is Ranging
When the Blue (Aqua) Line is Below the Yellow ATR line it means the market is Trending






Do note this indicator is to help "See" market movements, I don't use it to place trades, I did try to develop systems using it but did not have much success; maybe someone else will. You might want to try using it to better know when to use a Range Trading Strategy/Trending Strategy. Godbless and Goodluck

Rparm

Thanks ..

Hey ladies and gents,


I have some crappy news in regards to my trading, but you might just benefit from my experience if you try and use similar tactics to test your Broker.

I have found that Tickmill Delays Execution of Scalping Trades by 3000 to 5000 millisecond causing massive slippage on a regular basis for my ECN type Accounts.

I have withdrawn all funds and am removing all Tickmill Trades Explorers from my Profile. I have confirmed that Delays happen on my ECN Accounts, on the entry and exit for identical trades.

These are unacceptable trading conditions in a so called "ECN" environment. If I have the spare time I will upload Account statements from all of my Accounts displaying the Time the Trade was entered and the Time it was exited, you may then compare the massive differences in Time of Execution and Filled Prices on the different Accounts which are all on the same very fast VPS.

My secondary Broker Darwinex filled all orders with no delays, same goes for Pepperstone.

"ECN" stands for Electronic Communications Network. An ECN trading environment should fill trades within fractions of a second but Tickmill either has bad Servers or is maliciously Delaying my orders. I have a VPS with a 0.5ms delay which becomes useless when Tickmill takes several seconds to execute the orders!

For all of you that say a Broker has no time to scam retail traders or no incentive I will be posting Account Statements here sometime next week for discussion purposes. I suggest everyone trade using a VPS with < 1ms delay and split their funds into numerous Accounts and compare the execution Time for the Entry and Exit of the Trades. Also take a look at the amount of slippage that occurs on Identical Trades on Different Accounts you might just catch your Broker playing games. It's been confirmed many times in the past that Brokers don't always have the best intentions for their Retail Clients so don't kid yourself into thinking a company such as Tickmill or any other Broker has sound operating practices or you just might find yourself parted from your money!

Looking at the positive side of things, this has been an excellent learning experience for me that I won't be forgetting anytime soon. At first I thought it was due to my VPS being slow, but after upgrading to an Expensive Server I confirmed that it was in fact Tickmill taking too long to execute orders. ECN my foot!

The majority of my funds to Pepperstone and will be funding the Accounts next week. I will do similar tests with Pepperstone to ensure that they don't delay trades for several seconds. The information outlined in this message is especially important to Scalpers, if you Scalp and your Broker is delaying execution of your trades your excellent trading system and super fast VPS become useless.

Anyways, have a nice evening everyone!

Rparm

Thank you