Gio's Journal

[gio9]

I'm posting my journal here for 2 reasons. I have a great system that produces winning pips but I never follow it perfectly which results in slight negatives. Posting these results will help me to stay more consistent. I am trading live. I'll have 2 categories, 1. System Signals. 2 Actual Results

System Signals
5-25-09
Long USD/CHF 1.0356 SL 1.0324 1.0386 TP1 Resulting positive 30 pips on 1/3 of position the break even on 2/3 of position.

Total pips +30



Actual Results
5-25-09 went long but fell asleep at 1am. So exited with 20 pip negative.

 

[gio9]

I'm only going to post my actual results from now on.

Actual Trading
4-28-09
Long GBP 1.9881 sl 9820 tp1 9940 9gmt closed with 16 pip profit. closed trade a little too early. If I would've stuck to system would've made 30 more pips

Total pips today -14
Total pips week +16
Total pips month -14
Total pips year starting Aug 08 -14

 

[gio9]

4-29-08

Short GBP 9651 SL 9690 tp1 9611 5gmt followed rules exactly but price reversed in 2 hrs.
-40

Total pips today -40
Total pips week -24
Total pips month -38
Total pips since inception -38

 

[gio9]

Now entering trade at close past slow gmma

Positive 20 pips for the day, 1st target reached at 60 pips.. set other 2 targets to break even.. and thats what happened

Total pips today 20
Total pips week -4
Total pips month -18
Total pips since inception -18

 

[gio9]

Here is what the daily bars looked like this week, completely sideways and I almost broke even. Not bad

 

[gio9]

Here is the weekly view

 

[gio9]

Didn't follow rules and missed a 45 pip gain. Why Why Why

Total pips today missed 45 pips
Total pips week 0
Total pips month -18
Total pips since inception -18

 

[gio9]

internet got shut off and lost a 30 pip gain.. why again

Total pips week 0
Total pips month -18
Total actual live pips since inception -18

 

[gio9]

I'm changing up my strategy a bit to keep it simple. I backtested 1/2 of april and got a positive 300 pips. I know i'm supposed to backtest more but i'm doing it manually and what can i say? I'm lazy.

1. Enter on 1 hour breakout candle short and long.. no indicators
2. Trail stop loss with the lowest low or highest high of the next candle on hourly
3. Search 5min chart for correct entry
4. Limit order equal to stop loss level.
Taking trades from 4gmt to 13gmt. no trades on hourly candle of news.. unless it's a clear signal
Trading only 3% of the account with a max risk of 1% on any trade.
Not taking candles over 50 pips from open to close
watching higher lows and lower highs for entries as well

 

[gio9]

Plus 9 pips today... actual live.. woo hoo.. but if i would've just followed the hourly charts and avoided looking at 5 and 15 min charts i would've made 35 pips.. ohh well

Total pips week 9
Total pips month -9
Total actual live pips since inception -9

 

[worldreview]

Hi, I am hovering around forex market for searching a best scalping and swing trade EA for nearly two years.But not a single improvement now,would you help me where and which EA can trade profitably?? tks, [email protected]

 

[gio9]

Lost -7 on the first trade
Made +35 on the second trade The second hourly candle really shocked me. I got in on the break of the previous resistance.

Total pips week 37
Total pips month 18
Total actual live pips since inception 18


By the way. My rule for live trading is very strict. I start trading the absolute minimum amount of lots. That is only 30-50 units. I double up my units each week i'm positive. I do not want to lose any money on a testing period.

 

[gio9]

Ok, Since it was friday and my pips were positive 37 and it was a new system and I get to double my lots next week for trading positive, I didn't pull the trigger like I should've so I missed out on a positive 60 pips in 2 trades i didn't take

I can see how emotions will mess with a traders trading. But.. I have tried to use automated software in the past to take out the emotion factor but that didn't seem to work well either. Goodluck everyone. Have a great weekend!


Total pips week 37
Total pips month 18
Total actual live pips since inception 18

 

[gio9]

No Trade Today or yesterday... it moved early in the asian session which isn't of my liking. My system wouldn't have made money today. So no trade


Total pips week 0
Total pips month 18
Total actual live pips since inception 18

 

[gio9]

Yesterday lost 55 pips
I would've only lost 35 pips if I followed rules correctly

Today gained 35 pips

Total pips week -20
Total pips month -2
Total actual live pips since inception -2

 

[gio9]

I missed my 20 pip gain today which would've broken me even. so results are still the same.

Today gained 20 pips

Total pips week -20
Total pips month -2
Total actual live pips since inception -2

 

[gio9]

The summary for the week is this.. Follow your damn rules!
If you look through the past 8 days. If I would've followed rules I would be up 107 pips. But I'm not because.
1. I fell asleep
2. I exited Early ( I listened to SammyMu.. Just kidding sam!
3. Entered a position thinking it was a sure win. (not a part of my rules)

We are our worst enemy.

So this is what I'm going to do.
1. Get an alert created for my entry's.
2. Write rules on a post in and stick it on my screen.
3. Not sleep... just kidding. on that part.

Also looking into the 30 minute charts, I realized that my system could be a good scalping strategy as well on 30 minutes. So I might test it out next week. Have a great weekend.

Maybe I should move to asia or europe so I can trade during the day?
Maybe I would be a millionaire?
Maybe I should get a girlfriend and get a life? Just kidding.. i'm married.

 

[gio9]

missed second trade which would've made me -10 for the day

Today gained -25 pips

Total pips week -25
Total pips month -27
Total actual live pips since inception -27

 

[gio9]

No Trade last night.. i'm reposting rules for myself. I'm creating an EA to create an alarm when i get a signal.

Today gained -25 pips

Total pips week -25
Total pips month -27
Total actual live pips since inception -27

I still believe this strategy is sound but I havn't followed rules properly due to not having a signal alarm. I'm fixing this and hopefully i get in the positive in the next few weeks.

Countertrend strategy rules
1. Enter on 1 hour breakout candle short and long.. no indicators, Must have a higher close then the previous open. Or a lower close then the previous close.
2. It must be the first candle in the reversal. Only trade the first one.
2. Trail stop loss 10 pips above or belowwith the lowest low or highest high of the next candle on hourly
3. Search 5min chart for correct entry
5 Taking trades from 4gmt to 13gmt. no trades on hourly candle of news.. unless it's a clear signal
Trading only 3% of the account with a max risk of 1% on any trade.
Not taking candles over 75 pips from open to close
6. Only trading GBP/USD right now.
7. Minimum target and sl of 20 pips.
8. Risk management is 1 to 1 but SL improves the ratio.

Things I've learned. Simple but solid.
1. Look at smaller time frames to view trend, channel tops and bottoms, clear entries.

 

[gio9]

Made 21 pips last night

Today gained 21 pips

Total pips week -4
Total pips month -6
Total actual live pips since inception -6



Countertrend strategy rules
1. Enter on 1 hour breakout candle short and long.. no indicators, Must have a higher close then the previous open. Or a lower close then the previous close.
2. It must be the first candle in the reversal. Only trade the first one.
2. Trail stop loss 10 pips above or belowwith the lowest low or highest high of the next candle on hourly
3. Search 5min chart for correct entry
5 Taking trades from 4gmt to 13gmt. no trades on hourly candle of news.. unless it's a clear signal
Trading only 3% of the account with a max risk of 1% on any trade.
Not taking candles over 75 pips from open to close
6. Only trading GBP/USD right now.
7. Minimum target and sl of 20 pips.
8. Risk management is 1 to 1 but SL improves the ratio.
7. Check news and don't take trade 2-3 hours before.
8. Watch first 5 min candle.. if it go's in direction enter trade.. if it go's against.. wait to enter at higher or lower price.

Things I've learned. Simple but solid.
1. Look at smaller time frames to view trend, channel tops and bottoms, clear entries.