555,000 from 555 sheets

[counter_violent]

All trades closed for today, no open pozzies overnight. Here's what it looks like.
11 down 289 to go.

 

[counter_violent]

1 Trade open overnight in EJ, the spread sheet shows the overnight cost of financing.
There are various options open to us in terms of managing any offside pozzies.

1) We can do nothing (often the best option)
2) Oppose in a related instrument eg Eur or Jpy cross or an index like Dow or S=P. It all depends on what is aligned at the time.
3) Work the original pozzie as and when additional set ups are favourable.
4) Stops, which I do not favour as a way of managing, but there we are !

19 Trades so far, 18 closed which represents 6% of the 300 planned for.
So 18 down 282 to go.

 

[Forexmospherian]

Hi CV

I notice your largest pip drawdown on one trade so far as been 127 pips

You are hoping to achieve your 300 trades in under 6 months I believe. What will happen at that time if some of your trades are still open after say 2 or 5 months and with a few with drawdowns over 500 or 1000 pips in the wrong direction ?

Do you plan to take extra trades to cover their smaller cash losses - or leave them on a year or three and hope that one day they will come back into profit??

Regards

F

 

[counter_violent]

Hi CV

I notice your largest pip drawdown on one trade so far as been 127 pips

You are hoping to achieve your 300 trades in under 6 months I believe. What will happen at that time if some of your trades are still open after say 2 or 5 months and with a few with drawdowns over 500 or 1000 pips in the wrong direction ?

Do you plan to take extra trades to cover their smaller cash losses - or leave them on a year or three and hope that one day they will come back into profit??

Regards

F

Problem trades will be worked out individually as we go along and as and when they occur. Consider this, a problem trade can be used as a foil. By this I mean, trades in other related instruments which may be taken to oppose or run alongside the problem trade. I can do this many times over of course.

The central point is, as long as Equity gain outstrips any Drawdown, then there is no problem.

 

[timsk]

There are various options open to us in terms of managing any offside pozzies.

1) We can do nothing (often the best option)
2) Oppose in a related instrument eg Eur or Jpy cross or an index like Dow or S=P. It all depends on what is aligned at the time.
3) Work the original pozzie as and when additional set ups are favourable.
4) Stops, which I do not favour as a way of managing, but there we are !

Hi c_v,
Great stuff - looking good so far!


Of the four options for managing those pesky trades that don't behave, options 1, 2 and 4 are more or less self explanatory. However, I suspect that subscribers to your thread might be a bit puzzled by option 3. Would you care to expand on this and, ideally, provide an example of how this might work?
Cheers,
Tim.

 

[counter_violent]

Hi c_v,
Great stuff - looking good so far!


Of the four options for managing those pesky trades that don't behave, options 1, 2 and 4 are more or less self explanatory. However, I suspect that subscribers to your thread might be a bit puzzled by option 3. Would you care to expand on this and, ideally, provide an example of how this might work?
Cheers,
Tim.

Hi Tim, first it's important to understand that Option 3 would be used sparingly.

eg: you have a live trade which is offside, at some point you may feel that the instrument or even better, a group of related instruments, are displaying price action that you feel compelled to get involved in. So you could open up an additional pozzie in the same direction as the original thus giving a better average price and scope to adjust the target price(s) to close off the add and/or both.

It's also very important to remember that even if Option 3 is used, Option 2 is always still available to neutralise or bias stake in a related instrument in the opposite direction.

What we cannot do, is be of the narrow mind set, where we only have One rigid plan that deals with all market activity.

 

[counter_violent]

These threads are getting more complicated as I get older.

Honestly Split, this is not complicated, but it may require a shift in thinking. Of course, this may be a shift you are not prepared to make, but that's fine, each to their own.

 

[timsk]

What we cannot do, is be of the narrow mind set, where we only have One rigid plan that deals with all market activity.

Thanks for the explanation c_v.
I note the point quoted, which leads me to one more question if I may . . .

Would I be right in thinking that the method of entry and whether one is long or short is very much subservient to the trade management process - especially the four techniques for dealing with offside trades? If the answer is yes, would you go so far as to say that the entry criteria don't matter that much - or is that taking it too far?
Tim.

 

[counter_violent]

Thanks for the explanation c_v.
I note the point quoted, which leads me to one more question if I may . . .

Would I be right in thinking that the method of entry and whether one is long or short is very much subservient to the trade management process - especially the four techniques for dealing with offside trades? If the answer is yes, would you go so far as to say that the entry criteria don't matter that much - or is that taking it too far?
Tim.

Whilst it's always desirable to take a trade that goes into profit from the get go, the reality is that over half will not do so and especially when you factor in the spread cost which puts you minus on nearly every trade from the start.
Each time we make a trade, all we are doing is picking some arbitrary price level both for entry and exit.

So my view on trading & timing the markets has certainly shifted over the years, almost to the point where I don't really care where or when I enter a trade, with perhaps the One proviso which is, I like prices to be stable'ish on entry so I can plan my next move should price go the right way or the other way.

The reason why I can trade in this manner is because I have a good understanding of the interconnectedness and relationships between lots of related/correlated instruments. So if a trade is looking a bit iffy, then Option 2 can come into play.

 

[counter_violent]

Another day another dollar.
27 pozzies down which represents 9% of the 300 series. Only 273 to go !

2 Trades open overnight. Same EJ long trade from the day before and a Dow short which may or may not close in the night.

Existing EJ long trade was already in play today and further weakness developed in crosses of JPY which made that my foil trade, also suggesting that index's may become weaker during the day.
Dow cash was my instrument of choice and to be fair, I hammered it to produce decent gains as you will see on the spread sheet.

 

[FX-Parity]

Interesting thread. When I say interesting, I am also saying it from the angle of: I have no idea what the point of your score card is? (I have clearly missed something). Does it actually serve as an integral part to your trading process? Or is it some sort of deliberate gimmick / mickey-take that was written about else-where on this forum?

Correct me if I am wrong, but you're being quite blasé and vague? Maybe for a reason or unintentionally?

Just my thoughts!

 

[counter_violent]

Interesting thread. When I say interesting, I am also saying it from the angle of: I have no idea what the point of your score card is? (I have clearly missed something). Does it actually serve as an integral part to your trading process? Or is it some sort of deliberate gimmick / mickey-take that was written about else-where on this forum?

Correct me if I am wrong, but you're being quite blasé and vague? Maybe for a reason or unintentionally?

Just my thoughts!

There is no real point in the card, but some of us do like a giggle on t2w.

If the card has any purpose, it would be this: a combined total or monetary sum, something to aim for, a reason to be disciplined to arrive at your goal.

On the blasé point, I will allow you that criticism
But on the vague point, I can assure you, there is nothing at all vague about what I'm doing.

 

[12WBT]

36 Three dozen

Hello Again

First full(hum) week of the bingo challenge.

Work Ethic
Monday was a write off after late night Sunday watching movies, bed early this Sunday.
Tuesday was good, got into the zone for about 2 hours, felt like I was sitting on top of the line on my chart and giving it direction, but then the sounds of Emmerdale Farm came calling.
Wednesday bored, done very little, which helped for Thursday and Friday.

Patience and focus will be the key for me completing this challenge.
Discipline is Work in progress.

To sum up the week.
I traded like trying to find the keys in my handbag, least I turned up for work, might not have done much when I got there.

Will call in next week after the first week of March.

Regards
12WBT

PS have decided to tick the numbers off in order, just can't hit those bloody big numbers. Hope this is okay Counter.

 

[counter_violent]

Hello Again

First full(hum) week of the bingo challenge.

Work Ethic
Monday was a write off after late night Sunday watching movies, bed early this Sunday.
Tuesday was good, got into the zone for about 2 hours, felt like I was sitting on top of the line on my chart and giving it direction, but then the sounds of Emmerdale Farm came calling.
Wednesday bored, done very little, which helped for Thursday and Friday.

Patience and focus will be the key for me completing this challenge.
Discipline is Work in progress.

To sum up the week.
I traded like trying to find the keys in my handbag, least I turned up for work, might not have done much when I got there.

Will call in next week after the first week of March.

Regards
12WBT

PS have decided to tick the numbers off in order, just can't hit those bloody big numbers. Hope this is okay Counter.

Struggling to get to grips with the pdf, but if the card numbers are nett gain then I'd say pretty good.

btw, you do this for yourself, it doesn't matter if it's looks ok to me. Know what I mean !

 

[12WBT]

24 Knock at the door

Hello There

Another week of the bingo game.

Work ethic was good from Tuesday on wards, blame Sunday again.
Did get called away once, Harley died in Corrie Street, the tears flowed.

Only got in the zone once, after NFP Friday.

Patience, discipline and focus need loads of work.
Maybe FXMO could do zone and focus classes.

To sum up the week.
Found the keys in my handbag, but they were for the wrong car.

Regards
12WBT

PS even looking forward to Monday, what has become of my life.

 

[Dinos]

Interesting thread CV, good luck mate.

 

[12WBT]

54. Clean the floor

Hello Bingo Lovers

Another week of bingo trading (boring).

Sat in the chair most of the week and watched the numbers go up and down like a chinese takeaway.

This week I thought to myself I'm going to focus and concentrate on that moving line, 5 mins later what was I thinking about. Oh that line moved.


Patience, discipline and focus still need loads of work, there is glimmers of hope.

To sum up the week
Got the right keys for the car, but the bloody car would not start.

Regards
12WBT

PS
I thought this bingo lark would be easy and I would be half a millionaire by Easter.

 

[counter_violent]

Sorry guys, can't play along for the foreseeable. Got massive work commitments for a few months.

-----------------------------------------

Dinos..........anything you want to talk about on the thread ?

Anyone else ?

-------------------------------------------

12........ Not quite sure i understand why you are working up the numbers at 1 dollar stakes, could take quite a while to complete the card ! Have you considered a 2 dollar stake now you have some fat on the acct, making targets less and easier to hit. eg number 56 would be 28x2 stake. Just a thought, but your doing very well and continued good luck with it !

 

[12WBT]

88 Two Fat Ladies - RIP

Hello Everyday Bingo People sigh

Another week of the bingo game - sigh

This week has been - sigh

Was up to number 70 midweek, hang in there for a few more numbers, then the USA had a lift me up party, back into the 50's - sigh
Now I know what a tail stop is after the rat has run - sigh

To Sum the Trading Week.
I locked my keys and handbag in the car - sigh

Regards
12WBT

PS
What's a girl to with out the daily FXMO soap opera, it's like Eastender's without the Carter family - sigh

 

[12WBT]

7 - David Beckham

Hello Again




Regards
12WBT


PS