mauzj
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Bought back GBP/USD at 1.48637.
I'm just doing my trades on an Oanda demo FX account as I'm not experienced enough to use real cash yet. So I'll post my account balance (started at £100,000) every now and then to keep track of overall performance. I aim to roughly risk 1% per trade.
Balance: £104,819.27.
I'm just doing my trades on an Oanda demo FX account as I'm not experienced enough to use real cash yet. So I'll post my account balance (started at £100,000) every now and then to keep track of overall performance. I aim to roughly risk 1% per trade.
Balance: £104,819.27.
mauzj
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I've done a few more trades, using the 3 ducks (http://www.trade2win.com/boards/forex-strategies-systems/26464-3-duck-s-trading-system.html) to choose entry direction, but with other discretionary elements for entry/exit.
I'm mostly using a clip size of 100,000 as this is part time and I don't have the time to calculate dynamic sizing. So I've mostly been risking around 300 per trade.
Balanace £105,600.
I'm mostly using a clip size of 100,000 as this is part time and I don't have the time to calculate dynamic sizing. So I've mostly been risking around 300 per trade.
Balanace £105,600.
mauzj
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Balance £104,800
It was my busiest day for this demo trading today.
I bought EUR and GBP, riding the moves up, but got stopped out early on EUR after trailing my stop up.
I feel that the spread on gold with Oanda is a bit wide so I'll stop trading it.
At the moment I've just done EUR, GBP and JPY against USD. I'll add the other 3 majors later. I'm setting up my charting stuff to fit all the charts on one screen. So that'll be 6x3=18 charts on a 17" laptop screen!
I'm vaguely tempted to sod it and get CQG, but that'll be a few hundred a month, which is a lot when I won't be using it for real trading yet.
It was my busiest day for this demo trading today.
I bought EUR and GBP, riding the moves up, but got stopped out early on EUR after trailing my stop up.
I feel that the spread on gold with Oanda is a bit wide so I'll stop trading it.
At the moment I've just done EUR, GBP and JPY against USD. I'll add the other 3 majors later. I'm setting up my charting stuff to fit all the charts on one screen. So that'll be 6x3=18 charts on a 17" laptop screen!
I'm vaguely tempted to sod it and get CQG, but that'll be a few hundred a month, which is a lot when I won't be using it for real trading yet.
westernforce
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Mauzj, don't use a fixed stop amount. 30 Pips is irrelevant if it just falls arbitrarily on the chart. It may sound good, but it's meaningless to an unfeeling market.
Use some previous high, or low, to hide behind.
mauzj
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£99,300
I've been trading quite actively, but am still breakeven.
My friend went to India for a few weeks so I've been tinkering with his tradestation, trying to get it to help me to find good entry methods for the 3 ducks. Mostly I've just been using breakouts in combination with the 3 ducks. But nothing is helping me to get any good results.
I've been trading quite actively, but am still breakeven.
My friend went to India for a few weeks so I've been tinkering with his tradestation, trying to get it to help me to find good entry methods for the 3 ducks. Mostly I've just been using breakouts in combination with the 3 ducks. But nothing is helping me to get any good results.
BSD
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Good stuff !
I think it's all that spread trading you're normally up to in your firm that's messing you up for the realities of the real world. 😀
But hey joking aside all this seems perfectly normal so far.
Had this interview with Market Wizards author Jack Schwager on file, should cheer you up as what you're doing is basically not unlike what Seykota was up to, ie solid, robust trend following:
"Fleckenstein: The vast majority of the Wizards are discretionary traders, people who regardless of their discipline still include a large dose of human judgment in their decision making. Very few depend on a mechanical systems. Ed Seykota, who was in the first Wizards book, was an exception. Have you found that it's harder to achieve outstanding results with a Black Box vs. a well-disciplined but still discretionary approach?
Schwager: Yes. All the Market Wizards have a specific methodology, but most of them do not have systems. There's a reason for that. It's very difficult to develop a trading system that can realize tremendous returns with low risk. There are people who have systems that make a lot of money but have high volatility. Even in the case of Seykota, his phenomenal returns were still achieved with great volatility. When I went out to Nevada to interview him, I remember his pulling out this 15-foot-long graph, showing his equity appreciating from $10,000 up to $15 million. But along the way, it could drop from, say, $6 million down to $3 million."
Good trading !
🙂
I think it's all that spread trading you're normally up to in your firm that's messing you up for the realities of the real world. 😀
But hey joking aside all this seems perfectly normal so far.
Had this interview with Market Wizards author Jack Schwager on file, should cheer you up as what you're doing is basically not unlike what Seykota was up to, ie solid, robust trend following:
"Fleckenstein: The vast majority of the Wizards are discretionary traders, people who regardless of their discipline still include a large dose of human judgment in their decision making. Very few depend on a mechanical systems. Ed Seykota, who was in the first Wizards book, was an exception. Have you found that it's harder to achieve outstanding results with a Black Box vs. a well-disciplined but still discretionary approach?
Schwager: Yes. All the Market Wizards have a specific methodology, but most of them do not have systems. There's a reason for that. It's very difficult to develop a trading system that can realize tremendous returns with low risk. There are people who have systems that make a lot of money but have high volatility. Even in the case of Seykota, his phenomenal returns were still achieved with great volatility. When I went out to Nevada to interview him, I remember his pulling out this 15-foot-long graph, showing his equity appreciating from $10,000 up to $15 million. But along the way, it could drop from, say, $6 million down to $3 million."
Good trading !
🙂
mauzj
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£104,600. I got lucky catching a few large moves, though I was stopped out a couple of times on eur early in the day. Basically i thought it was going up, and went long, but my stop got hit before it went my way.
I'm still trying to use the ducks to choose direction. But am trying to buy after price pulls back, and then starts going for it again, rather than entering on new breakouts.
If a trade gets stopped out I'm willing to get involved again if it looks like the move is starting again.
I'm still trying to use the ducks to choose direction. But am trying to buy after price pulls back, and then starts going for it again, rather than entering on new breakouts.
If a trade gets stopped out I'm willing to get involved again if it looks like the move is starting again.
mauzj
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£104,200.
I got whipsawed a few times on eurusd. It was because I set my stop losses at a fixed 40 pips, rather than just above a resistance level. Live and learn! After giving up eurusd moved the way i thought it would.
I've caught good moves on cable, usdjpy and cable today. Alas I don't really have an exit plan.
I got whipsawed a few times on eurusd. It was because I set my stop losses at a fixed 40 pips, rather than just above a resistance level. Live and learn! After giving up eurusd moved the way i thought it would.
I've caught good moves on cable, usdjpy and cable today. Alas I don't really have an exit plan.
