QAM Trading Journal $US1000 to ???

nice journal mate. how you use heatmap and fundimental news

MM so what is the point of knowing you're behind the motivated accumulated daily gain!.... IF you're sticking to your rules etc ?

Welcome juisen25!

Heatmap:

The heatmap (via myfxbook) is used as a guide only to the current pip movements on the current 13 pairs.

At the start of each trading day you'll notice that I post a screenshot of the heatmap. Although a one off look at the heat map will give a trader an idea of how a pair or pairs is/are tracking what needs to be done is making comparisons over a period of time since this changes throughout the course of the day. So what I do is check back regularly and make comparisons each time I view it. This is simply a convenient place to view the pip movements on several currencies on the 1 chart. The heatmap will become far more important when multiple pairs are being traded on the account. By multiple pairs I mean more than 6 pairs at a time but this is unlikely to occur until the account gets closer to the 10K mark at which point I'll address how I apply it to trading at the right time. It is NOT the trigger to make trades or to be used solely for pair selection but rather its for general overview of the traded pairs to form an opinion only.

There are several other currency statistics that I refer too as well with volatility being one of them (also available on myfxbook as well as many other sources). Sometimes before choosing a pair or pairs to trade I will compare their historical and current day volatility and then decide which TF to trade for each pair as I do not always trade QAM with M1 on #1 pair and M1 on #2 pair. Often it is M1 on #1 pair and M5 on #2 pair etc.

As time goes on and the account starts to get a lot larger then other considerations need to be made for example which pairs to use on a +10K account when current floating DD >= 7-10% and you want to start hedging your trades. What pair should you choice based on the 3-4 pairs you have currently running. More pairs can generate more income but its a 2 edged sword as the DD can also escalate if you are not careful or prepared for such an event!

News:

News for the current trading day is assessed as have very little to moderate to large impact on trading a given pair.
If its a red news (high news impact) day on a given pair then its best avoided (trader choice)
I say trader choice because there are times on certain low volatility pairs (like EURCHF + EURGBP + EURUSD) that trading a cycle during a news event might be ideal for getting some volatility happening in a turtle pair. Assess the likely risk and decide to trade it or not to trade it.

On a small 1K account as is being traded currently it is far better to avoid trading during the news events because the pressure of DD buildup can easily create a major problem. On a far larger account trading smaller lot sizes the situation can be far different but each case would need to be assessed on its own merits.

Personally, I have paid subscriptions to live news feeds as well as listening to Bloomberg and Reuters all day long. This is very useful in making decisions that I see as necessary on cycles of trades being traded at the time. An awareness of news that has the potential to move a currency in a certain direction might mean that I immediately close out half the trades on a given cycle if PA on the chart starts to show some effect and even if the PA is not showing an immediate impact I still might close out at least a few trades.

All of these measures are there to protect this little account until it grows up and can defend itself somewhat better!

Masterrmind........

Motivation

1. To make me aware of the gap in $$ to where I'd like the account to be and

2. To make me focus on looking for ways to carefully close this gap caused by unfavorable cycles.

ps. I am steadily closing the gap so my short term goal is to be square by the end of the trading month but this does not mean trading too aggressively as always the preservation of the trading account is the most important consideration. Closing the gap and continuing to grow the account is a close second.

pps. Sticking to my rules will always be my plan but I like to be motivated too!

Masterrmind...........

Thanx a lot for your nice reply. hope for the best and can learn more from you

Feel free to ask whatever questions you like because although part of this strategy is geared towards trader discretion this doesn't mean that some form of an explanation can be used to answer the whys and why nots.

This thread as too the QAM Trading Strategy thread are both fully transparent meaning nothing is hidden.

Live trading account linked to a TE + myfxbook!

Plus the trader himself all accessible from the 1 location ........

I hope you gain something from the thread and enjoy the journey.

Good trading,

Masterrmind...........

Wednesday May 25 - Day # 38

Heat Map (myfxbook)

News

Daily gain

Motivated daily gain is $6.01

Motivated accumulated daily gain is $208.68

Currently US$46.25 behind the motivated accumulated daily gain!

Lets see what the market gives out!

Masterrmind...........

NZD news

Positive trade balance data for the NZD currency has seen quite a bit of movement this morning.

Masterrmind........... :nerd:

2 quick sets of manual trades @ 0.02 lots each during the ATW session each on AJ + NJ

AUDJPY [M5; 40/manual]



NZDJPY [M5; 40/manual]



Masterrmind........

End of ATW session for Wednesday (end of Day #38)

Manual cycles taken on AJ and NJ



8 trades

8 winners
NO losses

Daily $gain obtained was US$7.37 > motivated Daily $gain (US$6.01)

Net daily% gain was + 0.63%

Masterrmind............

In a week almost erased that big loss
Now you have some "space" again.
Two consecutive whole 10% losses are less likely

Yes exactly right!

Profit buffer is being built up once again to cover such an event in the future.

Far less likely to have 2 events in a row but we need to realize that it still is a possibility.

One great advantage is to produce a buffer profit without ever having lost any of the initial balance which is what I've done with this account.

Be motivated and be focused but NOT too aggressive and the QAM -1K live account will be back on track very soon (market willing).

Note 1: notice today how I applied manual trades in quick succession and took an early profit (with no further trades)
Note 2: be patient and keep focused and the market will reward you!

Masterrmind............

1K account comparison

To some traders out there the progress of this account might appear to be very turtle like in its profit generating abilities.

Unfortunately with the Quantum trading approach being so DD based the reality is that the account must be traded very carefully and developed very slowly (initially) as if it were made of brittle glass. This is due mainly to it being only 1K which is relatively small.

Letting your guard down is NOT an option here, you need to think clearly and you need to act swiftly when required.

Try to put this small trading account into perspective with larger accounts (using a very simplistic approach) as follows:

1K account current return is close to 17% = US$170 over about 6.5 weeks which is about US$26.15 on average per week!

10K account would return at close to 17% = US$1700 over about 6.5 weeks which is about US$261.54 on average per week!

100K account would return at close to 17% = US$17000 over about 6.5 weeks which is about US$2615.38 on average per week!

*** Everything should always be put into perspective and this is why I tend to talk % since they apply across the board ***

The time to go from 1K to 10K is rather long but its important to build it slowly and carefully.

From 10K onwards the scene will change alot and so too the trading so I'm looking forward to reaching this stage.

Good trading,

Masterrmind...........

Thursday May 26 - Day # 39

Heat Map (myfxbook)

News

Daily gain

Motivated daily gain is $6.04

Motivated accumulated daily gain is $214.72

Currently US$44.92 behind the motivated accumulated daily gain!

Lets see what the market gives out!

Masterrmind...........

Quite a lot of news out today so I'll wait until Tokyo gets going before committing to any cycles.

Masterrmind............ :nerd:

2 cycles currently in action (albeit slow) on EG + GU

Note: several manually placed entries on any given pair(s) are likely throughout the trading day!

Masterrmind........

EG cycle closed out now.

GU cycle allowed to run longer..... total assigned risk applied is < 10%.

Note: perhaps closing out the GU will a little overall loss was the better option .... only time will tell now!

Masterrmind............

GU cycle

Expert generated 9 short entries.

I manually added 1 more short.

10 shorts now in total

Expert pulled from the chart

Stops just above 1.48 handle

All TPs set at 1.46100 way down low.

Trades will be closed out if sufficiently profitable or if DD starts to escalate!

I'll be interested in the obstacles to price on the way down including the DO line and the pivot point to name a few.

NB. aware of the news due out in less than an hour!

Masterrmind...........

GU - update

closed out 3 shorts in quick profit.

7 shorts remain (at this stage no more shorts will be added unless price drifts up much higher)

Note: Sell Limit orders could be applied but no need to rush in yet........

Masterrmind...........

End of ATW session for Thursday (end of Day #39)

Cycles taken on EG and GU



22 trades

20 winners
2 losses

Daily $gain obtained was US$24.71 > motivated Daily $gain (US$6.04)

Net daily% gain was + 2.07%

Masterrmind............