Redarts smartlive journal

Caught the overnight upmove in cable for 100pips or so (£15 profit)

My best wins are always whilst im away from the screen.

Next update will either be a blowout with account back to £350 or if I get my account upto my 3rd target of £600, at which point i'll likely end the journal
 
Came close to my possibly final £600 target earlier. Lost a little since. We'll see how tomorrow goes. DOW refuses to have a decent down day.
 
TARGET ACCHIEVED:

We are at the £600 in equity mark. (£603 to be precise)
New highs (despite the stupid metatrader chart which tracks the balance as oppose to the equity.)

Now I will probably change tactics and look into trading in a very different wy now that i have built up a buffer, as per my plan laid out in my opening few posts of the thread.

I will likely keep it to myself though and end the journal.

Cheers.
 

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redart said:
TARGET ACCHIEVED:

We are at the £600 in equity mark. (£603 to be precise)
New highs (despite the stupid metatrader chart which tracks the balance as oppose to the equity.)

Now I will probably change tactics and look into trading in a very different wy now that i have built up a buffer, as per my plan laid out in my opening few posts of the thread.

I will likely keep it to myself though and end the journal.

Cheers.
Click to expand...

I think you need to sort out your risk reward ratio and overtrading. I've done what you have done before without any knowledge on what i was doing. Nice job though
 
redart said:
TARGET ACCHIEVED:

We are at the £600 in equity mark. (£603 to be precise)
New highs (despite the stupid metatrader chart which tracks the balance as oppose to the equity.)

Now I will probably change tactics and look into trading in a very different wy now that i have built up a buffer, as per my plan laid out in my opening few posts of the thread.

I will likely keep it to myself though and end the journal.

Cheers.
Click to expand...

Get it up to £850 and withdraw a nice £500 to blow on beer and then start again from the same £350
 
Devilicus said:
Get it up to £850 and withdraw a nice £500 to blow on beer and then start again from the same £350
Click to expand...

That'd be nice. Got it upto £615 now. Got 100 pips profit from the spx overnight for another £10 or so :cheesy:
 
£650 target achieved.
will now be switching to more risk aware type trading with tight stops where I imagine I will slowly lose what I have made through my 'naughtier' methods :eek:
My stops have been very big up until now and I think ive been lucky to have oso few of them hit. If I carry on as I am, i feel its only a matter of time before I have 3 losers in a row which will put a huge dent in my account.

So, as from tomorrow (or maybe monday depending on how busy i am) Im trading with much tighter stops, Will increase stakes from 10p per pip to about 50p I think.
Risk of a blowout trade is gone, but from experience, I think 'death by a thousand cuts' may be on the menu.

We'll see. Either way, I need to give it a go.

Still, happy to have more than I started with at the mo:
 

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Last edited:
mate I wouldn't decrease stops AND increase size at same time... I'd personally stick with 0.10p a point and check how your new strategy works out...
 
Maybe you're right.
I'll stick with just 10p for the moment and accept that the account isn't gonna move much in either direction and think of it more as a test of my methods.
Just that due to my current run of winners and my slightly wreckless methods, im used to making about £10 per day profits recently from the 10p trading, which just wont be possible at 10p per point once I start trading 'properly' with much tighter stops.
 
Thanks redart for taking the time to write your sml journal.
I have just started running a demo acct with slm, I'm new to trading so learning the ropes and digesting as much information as my brain can take. T2W and alot of you guys on here (too many to mention) have been a really big help to me so far - Big Thank You Guys!
I'm using one trading strategy on sml which at this early stage is working well for me but I am having problems understanding how margin requirement and each trades profit/loss are being calculated.

eg.
Demo acct balance 10,000 and leverage 1:100
EUR/USD - Margin Req 0.25% - Minimun 0.1 Lot - 1 Lot =100,000

My trade was:
Size 0.10
Sell - 1.39917
Closed @ 1.39476
Margin used was 22.19
Profit was 28.04

Just learning about margin and leverage now but me not being able to get to grips with this shows I'm along way off understanding this vital part of trading.

Appreciate it if anyone could show me how this is being worked out.
 
I dropped my mobile phone (pay as you go) in my pint of beer whilst drunk :(
This saddens me
 
Greenlight said:
This is not a good start to your week!
Click to expand...
I know!
Annoying.
I was building up quite an impressive list of girls who didn't call me back! lol
Maybe the sim card will still work. I had a lot of credit on there. I Dont know.

As for your earlier, question (just noticed it), you're asking the wrong person.
Start you own thread, or ask in the smatlive thread maybe...
If your size was 0.10 (like what i trade) and you made 44pips, then I would have thought your profit would be £4.40? (not £28.04) I dont know anymore than you im afraid.
 
Thanks anyway - that's whats confusing me?? size 0.10 (44 pips) should be £4.40.

If you've lost your impressive list of girls, no problem i've got loads on my phone - NOT!!! lol
 
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