No Rules - High Risk Capital Building from £3k

[episteme]

Some clumsy oaf in the SnB warned the public to expect higher interest rates in the future and they would not protect the currency any more.
I bought USDCHF, EURCHF too hard to call.

Do did you do the catching , or were you in before and were the one caught?

 

[episteme]

added £15pp @1.0134.

Trade average £50pp @1.0130.

Really am not looking for much from this.

 

[elitejets]

Do did you do the catching , or were you in before and were the one caught?

I did some catching, unusually for me. I think I had better stop reading this thread

 

[episteme]

I did some catching, unusually for me. I think I had better stop reading this thread

although that looked a tad reckless even to me.

 

[episteme]

about recklessness. I've added another £20pp making the trade £70pp @ 1.0134.

I've put TP in at 1.0126 and I'm off to bed now. We are pushing some new highs though so I may not like what I wake up to. I really should be cutting my loss here.

 

[shadowninja]

Jeez. GL!

 

[episteme]

That was a dumb ass trade. Took me a while to force myself but I'm out for a loss of £575.

Account Balance £4531


(and repping this post won't be deemed funny).

 

[episteme]

So I'm going to add another rule.

4) Don't try and scalp on a pair with 4 pip spread - that is just dumb. especially against what you can see happening on larger TF.

 

[episteme]

That was thr right decision!

Buy USDCHF @1.0571 £20pp , added another £10pp @ 1.0564, and another @1.0553. Making average 1.0565 @ £40pp.

 

[Black Swan]

That was thr right decision!

Buy USDCHF @1.0571 £20pp , added another £10pp @ 1.0564, and another @1.0553. Making average 1.0565 @ £40pp.

ah well, all done now given it *crashed* to 1.0540...never mind...

 

[elitejets]

Usdchf

Have faith, I am staring it back up again.

 

[Black Swan]

Re: Usdchf

Have faith, I am staring it back up again.

Yay, go for it Nic...

 

[episteme]

ah well, all done now given it *crashed* to 1.0540...never mind...

you're jumpy!

Was on the train to work for that so it doesn't count anyway as I didn't see it. Anyway I've had a look and am now up - only fifty quid but no need to panic.

 

[episteme]

ah well, all done now given it *crashed* to 1.0540...never mind...

also next time you think the market is heading down can you post here so I can double up. That's twice you called the capitulation point to the pip. I'll take the other side of your trades anyday.

 

[SuperDriveGuy]

That was thr right decision!

Buy USDCHF @1.0571 £20pp , added another £10pp @ 1.0564, and another @1.0553. Making average 1.0565 @ £40pp.

Great thread!

Are you trading spot or near quarter futures?

GL

SDG

 

[gamma]

you're jumpy!

Was on the train to work for that so it doesn't count anyway as I didn't see it. Anyway I've had a look and am now up - only fifty quid but no need to panic.

Hi episteme,
I wonder how do you cope with the pressure of everyone being aware of your open positions?
I did something similar on a much smaller scale, a while back to prove, that you can trade effectively with a 100 pound bonus offer, However I did not publish my trades and account until such time as I had completed the task.
I can't help but think, that if you had not published before hand and made you trades public you would no doubt achieve your aim.
None the less I greatly admire your spirit and wish you success!

 

[episteme]

I'm in a rush, so look at questions later - but closed out @1.0579 for £570ish. I just wanted my balance back above £5k is all the reason I had.

thanks to elitejet for bringing CHF to my attention!

 

[elitejets]

I don't know about Episteme but I publish my trades as I take them, not for the whole world to see but enough people to make me aware of it. It actually helps me a lot ... everyone that looks pretty much knows my rules so if I bottle on a trade or go against them everyone knows. It works for me like having built in risk control and every little helps in that department.
I am pretty sure if you asked Pozzie he would say that calling his trades in a journal helps him too.

 

[gamma]

I don't know about Episteme but I publish my trades as I take them, not for the whole world to see but enough people to make me aware of it. It actually helps me a lot ... everyone that looks pretty much knows my rules so if I bottle on a trade or go against them everyone knows. It works for me like having built in risk control and every little helps in that department.
I am pretty sure if you asked Pozzie he would say that calling his trades in a journal helps him too.

Hi elitejets,
Interesting how different people cope with public awareness of their trades.
I expect one has to be very strong in their conviction in such a case not to be swayed by any arguments one might hear to the opposite.
For myself I find it easier not to have any alternate views clouding my judgment.

 

[elitejets]

Hi elitejets,
Interesting how different people cope with public awareness of their trades.
I expect one has to be very strong in their conviction in such a case not to be swayed by any arguments one might hear to the opposite.
For myself I find it easier not to have any alternate views clouding my judgment.

TBH I Am pretty OK with being wrong about an entry or direction, it happens all the time. I am not the oracle and I don't have a great win rate.
The scrutiny helps with my discipline re trade management mostly and I think trade management is key to profitability (as Episteme is showing nicely). There are a lot of times I might have bottled out or cut trades (against my rules) had I not had the extra scrutiny.

Example: I went short EURCAD yesterday on a break of the lows. It failed to make my TP by 5 pips yesterday and today came back up and tested my entry to the pip. I wanted to cut it break even but its against my rules so I went for a walk instead and avoided a nasty PM from someone who watches me It just paid off but if no one was watching I would probably just have had a breakeven trade.