my journal

[Yamato]

Tell you what: i'll just trade the euro with semi-sniper settings, using all the correlations i've been using. But focus on the EUR nonetheless. Yeah, this is great: same target.

 

[Yamato]

There goes my second missed pro-trend trade: they were both profitable. Both discarded because I considered the situation to be too oversold.

 

[Yamato]

What's great is that despite being on the wrong side of the market at each crossover I am get more and more on the right side. But I am not losing any money as I would have otherwise, because now I am using as "sight" the fast moving average. I'll go LONG at the next bullish crossover.

 

[Yamato]

As long as you have something to keep you waiting, on hold, like a moving average, you're going to be ok. The problem is when you're totally free to gamble as you please.

I think today I found the right mix to make about a 1000 dollars every day. Quitting my job soon...

 

[Yamato]

hunches and intuition are good... good to have ideas by looking at the chart... but your idea has to pass the test of the fast ma.

Went long.

If it doesn't cross it, you can't enter the trade. And if it re-crosses it you have to exit.

 

[Yamato]

Also, "correlations" of the last 15 minutes are proving to be invaluable.

 

[Yamato]

Ok, so basically the method is this: you have to stay in a trade from one crossover till the next. That's all there is to it.

Wait. Important also to keep an eye on where the trend is, and where pivots are, and where the slow moving average is. Because you don't want to always go against the slow ma trend: only when it's highly overstretched.

Also have to keep an eye on what time of the day it is.

And if the range is low, limit yourself to that one famous single sniper trade per day.

 

[Yamato]

Exited with actually a small loss: but that was my victory. Being able to exit with a small loss. I used to stay because I had a small loss.

Now I'll enter at the next bullish crossover, and each time the trend will be more on my side.

 

[Yamato]

Entered again.

 

[Yamato]

Exited again. Lost hundreds in the two last exits, combined.

 

[Yamato]

Starting to get upset, at the risk of gambling...

 

[Yamato]

Ok, entered again. This better be the right time.

 

[Yamato]

it's killing me... the trend is changing maybe... but the crossing and re-crossing every two minutes is really giving me problems.

 

[Yamato]

According to the rule I had just created, I should have entered and exited 20 times already. And I'd be at minus 1000 for the day (would have lost 50 dollars per trade at least).

That's why after all the bracket order is better than the moving average as an exit method. And that is why one trade per day is more than enough, because you'd otherwise pick the wrong trades.

I guess I've just been experimenting all these days, despite the fact I was saying "never again this" and "from now on always this"... and similar.

 

[Yamato]

Ok, here it goes. Today I feel that I will make 2000 dollars on the EUR. Non-stop rising from now till the end of the day.

 

[Yamato]

I am gonna hold it at least until it reaches the pivot line. I'll start countin the money from now: 44

 

[Yamato]

94 (two contracts)

 

[Yamato]

120

 

[Yamato]

150

 

[Yamato]

170