my journal

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Old Nov 25, 2009, 8:32pm   #833
 
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Re: my journal

Yamato started this thread Wow, made a profit of 900 dollars in a few minutes... went from a loss of 4400 to a loss of 3500. CONGRATULATIONS to myself. Eh eh...!

Anyway, for anyone caring, here's my last version of the system with the changes in red:

OVERSTRETCHED METHOD
Set up a month of hourly candles with pivots on EUR FOREX

If at 8 AM/PM CET:
1) we're >150 ticks lower than at 8 PM/AM CET, and
2) we're close to a pivot line
Then enter LONG

If at 8 AM/PM CET:
1) we're >150 ticks higher than at 8 AM/PM CET, and
2) we're close to a pivot line
Then enter SHORT

EXITS:
1) Stoploss at half a pivot level away
2) Close position after 12 hours

-----

But if anyone wants to really make money.... follow my trades on this journal and do the exact opposite. You'd have made 6000 in less than a week, with a small capital invested.

Seriously, i am consistently unprofitable and with just a few trades. It's easy to be unprofitable by blowing away money on commissions and spread. But I manage to lose everything with just a few trades.
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Old Nov 25, 2009, 8:45pm   #834
 
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Re: my journal

Yamato started this thread Ok, my trade is lost, and I'm going to be at about 5k for now.

No big deal. I am not going to kill myself.

So, let's go over my system again. It's pretty clear to me by now that I've been fighting the trend forever, so I'll fix it somehow. I've got to fix it, because my systems won't take me back to 10k even if i let them run for a whole year. And I don't want to wire more money.

So I'll devise a system that doesn't fight the trend during the day, when the trend is most likely to continue. It will fight it after 9 PM, when it's likely to reverse. My favorite activity has to wait until 9 PM. 9 AM is a reversal time as well, but it doesn't matter because I won't be there. I'll have to work for a while the way things are going.

Pivots will be used. But i want to simplify it a bit. Here it goes:

[... thinking...]

WITH TREND METHOD (between 4 PM and 9 PM CET)
ENTRIES
GO LONG/SHORT if day's green/red and price goes through pivot levels

EXITS
bracket order of 40 ticks


AGAINST TREND METHOD (between 9 PM and 11 PM CET)
ENTRIES
GO LONG/SHORT if price >150 ticks lower/higher than previous top/bottom and we touch a pivot line

EXITS
1) Stoploss at half a pivot level away
2) Close position at 8 AM

Last edited by Yamato; Nov 25, 2009 at 9:16pm.
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Old Nov 25, 2009, 9:15pm   #835
 
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Yamato started this thread Ok, everyone. I am ready for the challenge. From 5k to 10k with this method. In just a week. Ok, deal.
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Old Nov 25, 2009, 9:18pm   #836
 
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Yamato started this thread I am starting tonight. I am definitely short on this mother ****er here. I definitely do not see any pivots lines, so I will not use any stoplosses. This thing can only go down.

I will make 1000 on this trade. I'll close it tomorrow morning before going to work. Then I'll only have 4k to go.
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Old Nov 25, 2009, 9:23pm   #837
 
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Re: my journal

Yamato started this thread This is going to be such an easy win. This is what I am talking about when i use the word "overstretched"! Check it out:

snap1.jpg

An easy 1000 dollars is coming my way. I won't even have to slouch at the screen anymore.
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Old Nov 25, 2009, 9:27pm   #838
 
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Yamato started this thread Ok. I am going to bed. I've worked enough for today. Or rather - I'll go watch tv. I've worked enough today, documenting my losses live for the entertainment of everyone, and of myself, too, in a few months, when I'll have figured out everything on how to be profitable, and I'll come back to read what a fool I was. All right, goodnight. Goodnight to the 2 invisible members reading me and to the unregistered guest, too.

It's funny, now everyone is turning to invisible mode, because when I see people reading the journal for hours I write them private messages and ask them for feedback.
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Old Nov 25, 2009, 9:37pm   #839
 
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Yamato started this thread Despite everything I said, I do feel a bit like Johnny Fontane in this clip:


Last edited by Yamato; Nov 25, 2009 at 10:16pm.
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Old Nov 25, 2009, 9:55pm   #840
 
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Re: my journal

Yamato started this thread Ok, look, sorry to come back after i said i was leaving.

I wanted to note this: the position is losing, despite all the rise it had made. However, look at this: it's not rising much more (it lost 100 dollars). This is what happens at night. It's tired from running all day, it rests, and then it reverses. It almost always happens. But guess what: I almost always enter early and manage to lose rather than win money. "Sitting tight", just like Jesse Livermore said, that's what I am missing. I may be tightass but I don't sit tight.
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