my trading diary

[maq]

this is my trading diary starts today

i have been testing this system for 5 months+ with very impressive results and i am going to trade it live now also update my entries live here

am starting with a bank of £900 with cmc markets and will be trading at £1 per pip


good luck to me

 

[maq]

first trade short g/y 150.90 target 160 pips lets see s/l 152.28 = 138 pips away

 

[Shikamaroo]

so what's the strategy/time frame? and dont you care tomorrow is a bank holiday in england?

 

[maq]

bank holiday i know but i just want to stick to my plan

so what's the strategy/time frame? and dont you care tomorrow is a bank holiday in england?

 

[GladiatorX]

You are doing directional trades on a highly volatile market with a £138 stop loss in a £900 account, Christ your entry criteria must give you one hell of an edge !

 

[leovirgo]

first trade short g/y 150.90 target 160 pips lets see s/l 152.28 = 138 pips away

Looks like sl got hit before going to the said target the following day. Did you re-enter the trade?

 

[maq]

yes the s/l got hit the trade could only manage about 80pips before it lost

next week hopefully will make back the 138 lost

no i don't re-enter trade if it loses i wait till next week for a trade

Looks like sl got hit before going to the said target the following day. Did you re-enter the trade?

 

[maq]

i have back tested this and in a term of speaking forward tested this so accept the risk involved

You are doing directional trades on a highly volatile market with a £138 stop loss in a £900 account, Christ your entry criteria must give you one hell of an edge !

 

[maq]

trade 2

153.00 buy ( long ) g/j
152.00 s / l
154.40 t p

 

[maq]

forgot to say £1 a pip the min that cmc let you trade

so 100 pip s /l = £100 risk
target profit 140 pips = £140

 

[Mr10%]

Can you not enter a trade with £1, then close 50p from it. Most spread bet companies have minimum requirements, but allow you to trim in intervals of 10p.

 

[maq]

no min option is £1

Can you not enter a trade with £1, then close 50p from it. Most spread bet companies have minimum requirements, but allow you to trim in intervals of 10p.

 

[Mr10%]

So you enter a trade and you have to exit for the full £1. That is a crap platform mate.

 

[maq]

who do you use?

So you enter a trade and you have to exit for the full £1. That is a crap platform mate.

 

[PualoP]

you need to open an account with IG or someone and trade smaller size. £1 is too big for your strategy. At this rate you'll have done your £900 before month end.

 

[GladiatorX]

Your risk is too big;
In roulette - If your averaging down with a 1/2000 chance of losing your entire account... The longer you play, the more likely you will blow up.

This example can be applied to the way your trading.

 

[JDTRADER]

Where are you at now ?

I started on CMC last year with £250 and got up to £600 before blowing it all with taking out my stops. The market hit the floor and I hate to see where the GBP/USD is now lol

Just demo trading on paddypower, hate the software but its free to use and play out ideas for trading. This account gives you £10,000 paper money to use.

I want to day trade with just popping in and out as I have not got the time to watch Bloomberg all day or follow all the news. I look at the charts for One Month to set trend lines or Suuport and Resistance lines. I colour the lines for red to sell and blue to buy and look for any change of direction over the week or day on the charts, thats my plan for next week.

Got a all day session booked with CMC next month and will be loading up my account with £500 to see how I get on. Starting 19th Oct 2009 Live trading.

 

[JDTRADER]

For anyone interested I have started my Journal:
http://www.trade2win.com/boards/trading-journals/73616-cmc-spreadbetting-500-boom-bust.html

 

[maq]

trade 3 short @ 150.30 g/j
s/l 150.90 for £1

60 pip risk

 

[maq]

tp @ 149.00