My journal - Spread-betting 7 FX pairs

awe

Active member
120 7
Some good points there, meanreversion.

I can recommend the book meanreversion mentions, even though I've not yet completed reading it, I can tell it's a book worth reading and recommending.

LiamH, I go for a 3:1 R/R on my trades and no leverage. I don't often get the full 3% but I do make more than I lose and my strike rate is around 50% at the moment. I think I'm being realistic about things. I only risk 1% per trade.

My system isn't entirely mechanical, I will intervene if I see things have developed a certain way which means there is a high probability of x happening. What is cast iron is my risk %. That stop never gets moved further out.

I plan to compound my earnings for now and if I show consistent profit over a sustained period i.e. 2 years, then I'll hopefully feel confident increasing my account balance ten-fold with my own funds. I'll just need to try and treat the account as I do now but with the decimal place moved one spot to the right.
 

awe

Active member
120 7
Hey there Sam, thanks for remembering me and dropping by.

In reverse order; It's going good thanks and no, I'm not currently trading.

I think I alluded to having other priorities in previous posts and it's those priorities that have caused me to pause my trading, which although frustrating, is the right thing to do for now.

Whilst trading I had to be strict with my time as, although [fortunately] it was going well, it still only represented a meagre fraction of my total income so the time I was starting to devote to it was disproportionate and I can't afford for my other interests to suffer.

That coupled with the imminent (barring anything unforeseen) launch of another venture means my sebatical from trading is, as of now, of an undefined length.

I do plan to resurrect this thread in the future.

Thanks for dropping in and good luck with all that you're doing!
 

megamuel

Experienced member
1,098 164
No problem, it was looking to be a good thread so its a shame that other priorities got in the way but it will be good if you start it again one day. I remember you telling me about your other business interests, you certainly seem to have a lot on your plate! May I ask how you got into property? I would love to get into it but I have very little money so its a big no no at the moment!

Sam.
 

awe

Active member
120 7
Blimey. Nearly a year to the day that I last posted here.
 

awe

Active member
120 7
Well - I finally returned to trading in August 2018, so just a short break :LOL:

I've been active in other parts of the forum again since about Spring last year and had forgotten about this journal until spotting some of my old trading videos on my old YouTube account which I've also resurrected (the account, not the videos).

I have solely been day trading US stocks (and CFD's of the stocks where available because no uptick rule as I like to go long and short).

I've not been doing very well since then. I've traded most trading days but am struggling with some common problems, namely: over-trading, revenge trading, FOMO and not cutting failed trades quickly enough.

I've started a free chat room with a couple of other traders from this forum that also trade US stocks and in a similar way to me, please feel free to join https://discord.gg/vWkYxdG

And I also post trading recap videos after I've finished trading for the day, as a way of forcing me to analyse trades and also provide a future reference/benchmark. If you would like to see them please visit https://www.youtube.com/user/almurray2000

I won't be resurrecting this journal however as this was for tracking my Forex trading which I don't currently do.
 

awe

Active member
120 7
what happened to your FX adventure?
It stopped mid-2010 when I stopped this journal and I hadn't traded anything until deciding to start again last year. It may well be something I go back to as it wasn't going bad but I never got to the stage of feeling confident enough to increase my lot size and let a trade play out over hours as it was swing trading.

When coming back sort of fresh last year I wanted to trade shorter time frames for the reasons above. I also thought having volume, level 1 and level 2 data would be useful so I decided to trade US equities as it leaves the bulk of my working day free, although the same may be true for UK/European markets if I traded the first hour or so from the open but I want to focus and hopefully achieve consistency before adding anything else back in.
 

FXX

Experienced member
1,264 258
It stopped mid-2010 when I stopped this journal and I hadn't traded anything until deciding to start again last year. It may well be something I go back to as it wasn't going bad but I never got to the stage of feeling confident enough to increase my lot size and let a trade play out over hours as it was swing trading.

When coming back sort of fresh last year I wanted to trade shorter time frames for the reasons above. I also thought having volume, level 1 and level 2 data would be useful so I decided to trade US equities as it leaves the bulk of my working day free, although the same may be true for UK/European markets if I traded the first hour or so from the open but I want to focus and hopefully achieve consistency before adding anything else back in.


I trade fx but don't swing trade and don't utilize technicals. I hold down a full-time job but manage to make aprox 10% monthly. I am able to achieve a good balance between work and trading because i know exactly when i will be trading instead of waiting and watching for a trade to come my way. I do that through the economic calendar and trade news flow and it works extremely well for someone that has limited time during the day. Just thought i would let you know that there are ways to profit in FX without needing the time commitment you originally spent.
 

awe

Active member
120 7
Great work FXX! That's very commendable, I will check out your journal and may very well be in touch to pick your brains in the near future (y)
 

FXX

Experienced member
1,264 258
I haven't updated my journal in a long time so probably won't help you much. Just wanted to help you see there is a viable option to your requirements as I have the same requirements
 
 
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