Subscribe to:
Post Comments (Atom)
skip to main |
skip to sidebar
My results:
August +675 so far
July +1075
June -2912
May +1595
April +153
March -680
February -2105
January -1671
My forex trading diary... My goal is to make several thousands USD from less than 200 USD in one year
Forex Morning Trade
Zulutrade - it can work when you are not greedy
My results:
August +675 so far
July +1075
June -2912
May +1595
April +153
March -680
February -2105
January -1671
Cash back for trading
Money paid by Cashback forex
132$
Important parts of my blog
Great sites on the web
Followers
Blog Archive
-
▼
2010
(93)
-
▼
May
(19)
- EURCAD trade - update
- May 30th results
- Down we go again...
- EURCAD trade
- May 22nd weekly results
- This is crucial, read it!
- May 16th weekly results
- No system is perfect...
- AUDCAD channel trade - update 4
- 1 minute trades this week
- Crazy end of the week brings crazy results:)
- EURCHF
- AUDCAD channel trade - update 3
- AUDCAD channel trade - update 2
- AUDCAD channel trade - update
- AUDCAD channel trade
- EURCHF - SL moved
- Statistics
- Trade statement
-
▼
May
(19)
Hi,
ReplyDeleteSo based onyour past performance eg - trading 10% on a trade does that mean your potentially down 30% eg 3 losing trades at 10% each?
Thanks
Exactly... And the SL on short trade did actually get hit, so I am -30% today. But that is my aggresive trading, I don't recommend anybody to risk 10% as I do... You have to stick to your system and accept the losers. The winners will come...
ReplyDeleteOf course I always count 10% of my balance before every trade, that means after one loss the risked amount of money is smaller...
ReplyDeleteAhh I see standard procedure :) - Let me know when your back up ov er your 30% DD be interesting to see if you end up this week on a +% also do you skype I am sure we could share trading ideas I have a very good and accurate Reversals system producing nice profits - Thanks :)
ReplyDeleteHi Anonymous:)
ReplyDeleteI am not sure if I will get my 30% back by the end of the week, but I am sure I will by the end of the month:) That is just the way I trade this system... But I trust it because it is based on logical thinking and is almost mechanical, I cannot influence it with my emotions...
I sure do Skype, write me an email, we can get in touch.
Hi!
ReplyDeleteCould you update how 1minuteDaily works?
I am interested in.
Since when have u bee ón using it?
Hi Anonymous,
ReplyDeleteI am updating every week. This week so far is not very succesful. Actually there are more losses, but that was expected. And unfortunately I am away on a journey so I missed one positive trade today... I will post a statement on sunday night when I get back or on monday...
And if you look and read the first posts you will find out, when I started:) It was around Jan 26th...
ReplyDeleteHi, I am Andras.
ReplyDeleteI bought the system as well and discovered that GBP/USD performs very well, but I counted as well that from 1st of Jan 2010 the USD/JPY gained only 74 pips if you deduct the spread.
I lost this week on USD/JPY very much, so I guess so I finish it and use the system only for GBP/USD.
USD/JPY may need other settings, I will count it for other timeframes( for example night range from 21 - 09 GMT and I will see how it performed from 1st of Jan 2010.
What do u think about USD/JPY? Can u confirm my counting?
Bests,
Andras
Hi
ReplyDeleteThey also trade GBP/JPY.
Is thete a reason why you dont?
By the way, on one screen shot you mention moving your stop. What is your criteria for doing this?
Hi Andras,
ReplyDeleteI have different statistics with UJ, I have 52 wins : 35 losses in USDJPY... within the last 3 months of trading it. So I will surely not skip it and keep trading it:) Dont worry about pips, worry about % of your account! Pips are useless if you don't use proper MM... Your account can grow with 30 pips distance as well as with 150 pips distance. You should always risk the same % of your account.
Take care,
Slurpee
Hi Pat,
ReplyDeleteI dont trade GJ because the spread is bigger than in the other pairs and also because I simply looked back a few months and it had negative results. I added EJ now to my trading, today was a first win on this pair, cool:) But I will only trade it if the distance of the belts is lower than 120 pips or so...
Yeah, thats is just my discretion... If the pair moves almost to hit my TP (to a distance between 5-10 pips usually, I move my SL to BE+1 or just under/above closest swing high. But that is not strictly the system. I do it because if the price gets very close to the target, I dont want to lose the whole 10% of my account. But we shouldnt do that too often, it takes out the mechanical part of the system which is great (set and forget)!
Slurpee:
ReplyDeleteI examined not only 3 monthsn but form 1st of Jan until 13th of May. So, in this period were 58 good order and 45 order in minus. This means 605 pips plus within 4,5 months, but u need to deduct the spread and others, so the net profit is still 74 pips within 4,5 months.
However I examined as well that in 2009 USD/JPY performed very well, so I decided that until it performs about 0 like now, and not minus, I keep on trading it as well, because never known when does it start performing very good again.
I just hope it does not turn into loss overall.
By the way: GBP/JPY performs very bad, noboday should trade it.
Do you have any good trading ideas, or systems, signal providers?
I have one very good signal provider. We could change info. Write me to nemethandriska@yahoo.com if you think so.
Bests,
Andras
Ah, and I think so that pips are very important, MM is just the second important. If you gain losses, u could have any good MM. The point is to use very good performing systems.
ReplyDeleteBests,
Andras
Andras,
ReplyDeletefirst of all, MM is the MOST IMPORTANT thing, not second. And that is not only my opinion, it is opinion of more experienced traders. You can have 90% win ratio and still lose money. 58 wins x 45 losses is great! Don't worry about the pips, trust me. I ask you a question: what is better, 20 pips with 5 standard lots or 200 pips with 5 micro lots? If you have 7 losing trades and every loss is 10 pips and 3 wins, where each win is 50 pips, what do you get? You make money. That is why I dont count pips at all. I count wins over losses in this trading system because in history it proved to have more winners than losers...
I dont use any signal provider, but of course if u know some good one, I would like to look at it...
Slurpee
Slurpee,
ReplyDeleteThe point is if you use 5 lots or higher and make only 74 pips (form 58-45 trades)it is still not good performance, because you can easily wiped out and using other system u can make much more. 74 pips can easily turn into losses. In my opinion!
In the meantime I counted it for GBP/JPY as well and the result is surprising. It made 1957 pips net (deducting spreads and other losses per trade) within 4,5 months. I guess so I am going to use it as well from next week. You just need to take care not to trade the ones with big night ranges, because that ones are losing trades (occured only 2 ones bigger then 300 pips in night range; do not trade them in the future, I think so).
Back to MM: 1minutedaily says to risk always 5% or 10% of your equity. I use it. It is good. But think about it in USD/JPY It gives about 0 profit, because when u have more money u use higher lots. U loose, then u use smaller lot, If u win with smaller lot, u win less money then u lost with higher lot. So, the result is about 0 profit if you make only 74 pips within 4,5 months.
Nevertheless, as I said, it still worth to use USD/JPY because never known when it starts performing good again.
But this is my opinion.
Bests,
Andras
Hi Andras,
ReplyDelete74 pips with 10 standard lots is 7400 USD, I think, that is quite OK:) Of course 1000 pips would be much better. What I am talking about is that you shouldnt trade with the same amount of micro/mini/standard lots. You have to count it against your acount. But that is only my humble opinion:) I will make and post here a table which shows the strength of proper money management here.
I will look at GJ, it sounds interesting what you say...
As I have written here, I risk always 10% of my account (which is VERY risky) when trading 1 minute daily system. And will try to make a summary of UJ so far for my trading with my MM...
Have Fun:)