FTMO: trendies trading trials and tribulations II

trendie

Legendary member
6,841 1,399
I thought I would give it a go!
Had the account since early April, but started in earnest this week. (today)
(needed to outsource my other stuff)

This is a scalping adventure.
£35K.
Got off to a schoolboy error, put the decimal on the wrong place.
Down around £500.
Will update later.
 

trendie

Legendary member
6,841 1,399
First day was a wobbly.
I used 3.0 lots for DAX, when I intended 0.3. (schoolboy error)
Second trade was for 0.3.
Third trade on US30 was for 0.3.

3 trades, down £422.

Plan: on 35K, target =3,500.

I decided to split this into 20 trades, each risking £175 max.
This is 0.5% per trade.
Only looking at DAX and US30.
I would need to take 20 consecutive losers to hit the 10% max drawdown.
However, I can only take about 10 trades a day, to avoid the 5% max daily drawdown.
I only plan to take 2-3 trades per day, even though I consider this scalping.

Plan is not to take more than 20-30 pips risk, so thats how much I need to get, if I consider this a coin-flip 1:1 R:R.

Today was a settling-in day!

EDIT: really inspired by Emanita, and of course, Captain Currency, with their progress.
 
Last edited:

trendie

Legendary member
6,841 1,399
ftmo-day01a.PNG
ftmo-day01b.PNG
 

trendie

Legendary member
6,841 1,399
No trades yesterday.
2 trades today, for the morning session.
1 win for +1.5%.
1 loss for -0.5%. (hated this one, will explain later)

Lunch. Then afternoon session.
 
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trendie

Legendary member
6,841 1,399
I might be giving unimportant and unnecessary info with my screenshots, but I like Emanitas style of transparency, so will copy it.
I calculated the risks "properly", so,
DAX: for a 0.5% risk of about £170,
I would trade
0.8 lots for a risk of 25 pips.
1.0 lots for a risk of 20 pips.
US30:
1.0 lots for a risk of 25 pips.
1.2 lots for a risk of 20 pips.

Would you believe it, the US30 got really wild, so I only risked 0.5lots. (ideally, should have avoided the US open)

Trade 1: DAX short; got 1.5% return; (£532.36, which is +75 pips at 0.8lots)
Trade 2: DAX short; lost 0.5%,( £-177.23,which is -25pips at 0.8lots)
* I went short too early, and my StopLoss of 25 pips (0.5%) got taken at the VERY top (to the pip!)
* Coulda/Woulda/Shoulda: should have been more mindful of the round number 15200)
Trade3: US30 short: got 0.4% (£142.30, which is +40pips at 0.5lots)

Let me know if I am being too detailed!
 
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trendie

Legendary member
6,841 1,399
Bad trade to start!
Went short US30, trade went in my favour, I put a SL just close to BE to make a cuppa, and I come back to find my trade closed out at close to BE, and went off to hit what would have been my TP.
Not happy.
US30 unusually wild.
Have been *free-styling*.
5 trades, 4 wins.
1 BE, 4 wins each at 0.25%. (each around the £100 mark).
Am exhausted! Off till lunch.
 

trendie

Legendary member
6,841 1,399
I seem to be more comfortable with Sells rather than Buys.
I was too focussed on Sells, and missed the Buy signal on US30.
Anyway...
5 trades;
+32.55 (essentially BE trade)
+101.16; 29 pips at 0.5lots (half size)
+115.71; 32 pips at 0.5lots
+104.91; 30 pips at 0.5lots
+105.24; 30 pips at 0.5lots

Thats £459, which is approx 1.25% increase.
Maybe I need to get more involved, since looking at other FTMO accounts that get analysed on YT seem to have loads of trades per day!
Time will tell.
PS: my account graph looks like a cup-and-handle pattern!
ftmo-day04a.PNG
ftmo-day04b.PNG
 
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trendie

Legendary member
6,841 1,399
I really need to get the Short side out of my system!
3 trades, nett losing around £60.
Will update later.
No trading this afternoon, as I suspect it might be choppy.
Will update my thoughts, as I am not taking enough trades for this to be useful.
 
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trendie

Legendary member
6,841 1,399
3 trades:
01:Went Short US30, then realised I meant Long (!!), and got out for a small profit, (£+2.47)
02:Went Short US30 (deliberately), and got out with a small cost, as market move was too much to the upside. (£+12.68)
03: US30: Given what I say in line above, why did I go Short again?? Cost me £-85.47.

Upside: I got out with small overall loss.

Weekly remarks:
I need to increase my risk amounts. My risk, of 0.5% per trade, means I should be trading many more markets.
Or, to risk larger on the fewer markets.
My normal rules risk 0.5%,but am willing to take a 25-30% drawdown before I revisit my rules.
So, still adjusting to FTMO 10% max loss rules, as well as how unrealised need to be accounted for.

Will have a review over weekend about adjusting my risk:reward, but NOT my rules.

Hope you all had a good trading week.
ftmo-day05a.PNG
ftmo-day05b.PNG
 

trendie

Legendary member
6,841 1,399
No trades yesterday.
2 trades today. Not happy.
Went Short DAX at 15546 earlier today.
When it went enough in my favour I brought SL to close to BE.
Market, then spiked up, took out my stop, and went down on its merry way, without me.

Also went Short US30 at 15546 late morning.
At the frantic opening at 2:30pm, market spiked up, took out my SL, and went down.
Not happy, bit frustrated.
Only another day, which can be parcelled off and put away.

DAX, profit £+49.15.
US30, profit, £+17.91.

Oh well.
No need to upload screenshots for such a paltry day.
 
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trendie

Legendary member
6,841 1,399
The odd chart would be handy for us gongoozlers, no need to disclose your strat with entry, exit, SL etc
Nothing special, or secret. Just a pullback player.
There is nothing exotic about the settings.
Just using Stochastics, to pick an Overbought condition in a downtrend, or an Oversold condition in an uptrend. I am getting bored of the Longer Stochs on my charts, might ditch them!
There is a 60-SMA (!!) with 20-pip bands (10 above and 10 below)
I am not totally committed to the settings, its just a principle.
I have a 3-SMA line, as a way to wean myself off indicators, as it allows me to see Support and Resistance without squinting.
I am learning Sup/Res stuff, so allow myself the occasional freebie trade as a learning tool.

Below: I have annotated just one chart, just as examples. It is not a complete analysis.
t2w_01a.PNG
t2w_01b.PNG
 
 
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