To save some time, I won't post pictures of this week's trades, only my account statement.
On GU, there were 3 wins and 2 losses. Something strange happened on Wednesday early morning which caused one more loss, that would not normally happen. I heard some "fat finger" (bank or something like that) made a mistake that caused move more than 100 pips in 1 minute that took my Tuesday's buy and immediatelly went down for SL. So on Wednesday I decided not to trade because the market was quite choppy after that...
On UJ I couldn't trade on Friday and this trade would have been still open. Other than that, I had 2 losses and 1 win. If you want, I can make a picture...
This week, hopefully soon, I would like to make a summary of what I learned during the first 6 months of trading this system and what improvements I make... I will also post some statistics here from myFXbook...
"This week, hopefully soon, I would like to make a summary of what I learned during the first 6 months of trading this system and what improvements I make... I will also post some statistics here from myFXbook..."
ReplyDeleteThank you, this will be a great help
Cecil
Thanks Tomas for taking the time to write your blog. I really appreciate it.
ReplyDeleteI have started the system this week but am finding it hard to put on the trades and then just leave them until the next day. Also the stop losses are high but the system states that there is only a 9% chance of 2 false breakouts. Have you lowered your stop losses at all?
Phil
Hi Cecil,
ReplyDeleteI am glad to see you post here... I will do that for sure, keep coming back.
Take care
Hi Phil,
ReplyDeleteI understand you... If you find the SL high, just lower your risk! Risk only 2% of your account. If you want, I will send you my Excel sheet that counts it for me (how many micro, mini lots, should I trade with). Or we can chat on Skype or somewhere. It is NOT ABOUT THE PIPS, it is about THE PERCENTAGE YOU RISK IN EACH TRADE!:)
The discipline and consistency is the most important thing here. The psychology is crucial in trading. JUST LEAVE THE TRADES BE and live your life!:) I will write in next post about lowering risk...
Thank you Tomas. That would be kind of you, (you have my e- mail address). I am only trading 0.50 GBP. I have been almost 'struggling' on with my trading for 3 years now and not getting very far. I almost need to trade my minimum amount to see it all work for me and see some financial gains...almost 'make or break' if that makes sense!
ReplyDeleteIt would be good to talk sometime.
Thanks again,
Phil
You are welcome... I have just sent it to you with explanation. 0,5 lots (5 mini lots) is too much to start with I think. It depends how big your account is but I would still start with smaller lots (but use my calculator and risk 2% only, then you should feel OK). The calculator will tell you how many mini (micro) lots you should use on each trade...
ReplyDelete