22 January 2009
Jan 22
I went live yesterday. I ended up funding a small account, and trading micro's. Over the past few months my EA has been doing very well, so I figured it was time to give it a try.
15 January 2009
Jan 15
I have not updated this in a while, I think it became too much of a hassle to write down every trade. So I think I will resort to less often writings and just a summary of whats in my mind.
So far everything seems to be good in my demo accounts. My $2000 EA demo account that I started trading on 12/22 is now up to about $3500. I have moved to a different demo now, and so I am back to $3000. The main reason I stopped trading the ODL account was because I think my initial account will be with FXDD, therefore I wanted to run their demo. I put in my application last week, but they are backed up because of the bonus program.
My manual trading seems to be going better, but I have 2 trades open now that could eat away at my recent gains. The $2000 manual account I opened last week is showing about $2485, I have had some good trades and feel more comfortable settling into the higher time frames with a bigger S/L and T/P level and only executing a few trades per week
My two open trades are in the red right now, they are the EURUSD and GPDUSD. I have a hedge opened on the GPDUSD because I am not sure this will come back in my direction within the next week. The EURUSD was a continuation of a trade I made last week that I closed for about 200 pips. My new T/P on the EURUSD is 1.3000, but signs for tomorrow point to an up day, so we shall see.
On the USDCHF I see a breakout coming, I am not sure which way though, so I have decided to play with a couple break out trades. When the price was at about 1.1200 I opened a buy and sell stop order. Lets see how this works out, I am a little nervous as this is outside of my normal trading. I tried to set the numbers outside of the current channels so that a trade would not be signaled unless there was decent movement.
On the USDJPY, I see a uptrend on the D1 and a downtrend on the W1 so I am staying out until they are in agreement.
Finally, I decided to get a VPS. I was not comfortable utilizing the machines I was for trading. I found a 3 month free coupon with experthost, so I set it up yesterday and started trading today. So far the performance is acceptable.
Profitable trading,
Husky
So far everything seems to be good in my demo accounts. My $2000 EA demo account that I started trading on 12/22 is now up to about $3500. I have moved to a different demo now, and so I am back to $3000. The main reason I stopped trading the ODL account was because I think my initial account will be with FXDD, therefore I wanted to run their demo. I put in my application last week, but they are backed up because of the bonus program.
My manual trading seems to be going better, but I have 2 trades open now that could eat away at my recent gains. The $2000 manual account I opened last week is showing about $2485, I have had some good trades and feel more comfortable settling into the higher time frames with a bigger S/L and T/P level and only executing a few trades per week
My two open trades are in the red right now, they are the EURUSD and GPDUSD. I have a hedge opened on the GPDUSD because I am not sure this will come back in my direction within the next week. The EURUSD was a continuation of a trade I made last week that I closed for about 200 pips. My new T/P on the EURUSD is 1.3000, but signs for tomorrow point to an up day, so we shall see.
On the USDCHF I see a breakout coming, I am not sure which way though, so I have decided to play with a couple break out trades. When the price was at about 1.1200 I opened a buy and sell stop order. Lets see how this works out, I am a little nervous as this is outside of my normal trading. I tried to set the numbers outside of the current channels so that a trade would not be signaled unless there was decent movement.
On the USDJPY, I see a uptrend on the D1 and a downtrend on the W1 so I am staying out until they are in agreement.
Finally, I decided to get a VPS. I was not comfortable utilizing the machines I was for trading. I found a 3 month free coupon with experthost, so I set it up yesterday and started trading today. So far the performance is acceptable.
Profitable trading,
Husky
08 January 2009
Jan 08
After yesterdays losses, I am taking it easy today and trying to study what I see in the markets, that re-occurs. Here is what I am seeing so far
1. EURUSD, 7am and 12noon
2. USDJPY - 5 day cycle
Anyway, as for my trades. I have only closed one, and another is executed.
EURUSD - 17:08 sell @ 1.3713, 18:48 trailing stopped at 1.3687. My profit level was expected to be around 50 pips, but put the trailing stop because I was sick of loosing :(.
I have open a USDJPY Based on the d1, The D1 is showing a downtrend, and is at the top of the channels
USDJPY, Sell at 91.27, SL at 92.10 (this is big), TP at 89.75. I put my stop loss at what I felt was reasonable based on the past action history.
1. EURUSD, 7am and 12noon
2. USDJPY - 5 day cycle
Anyway, as for my trades. I have only closed one, and another is executed.
EURUSD - 17:08 sell @ 1.3713, 18:48 trailing stopped at 1.3687. My profit level was expected to be around 50 pips, but put the trailing stop because I was sick of loosing :(.
I have open a USDJPY Based on the d1, The D1 is showing a downtrend, and is at the top of the channels
USDJPY, Sell at 91.27, SL at 92.10 (this is big), TP at 89.75. I put my stop loss at what I felt was reasonable based on the past action history.
07 January 2009
Jan 07 Close
It looks like I am still having some issues with my trading technique. First off I broke my 3 rule trade. Here are my additional trades for the day.
A little more analysis on the previous order listed above.
Sell 12:27 EURUSD @ 1.3604, S/L 1.3655, TP at 1.3503. Stopped out for -51 pips. Personally, I thought everything lined up. After taking a look tonight, it looks like I traded in the middle of the channel, which is a no-no.
Here was the new order
Sell 19:28: EURUSD @ 1.3614, SL1 at 1.3655, SL2 at 1.3670, TP at 1.3581 Stopped for -56 pips.
My first mistake was moving my stop because I thought about triple Wednesday. Also, since my original s/l was 40 or so pips, my lots were scaled accordingly, making me loose more money. This trade did come within about 10 pips of my TP :(. The other thing that sucks is that the price turned right at my stop, and headed down. Fundamentally I really do not see much error, I should have kept my original s/l and re-entered as it passed down through 55 again.
I am down about 1% account value today.
A little more analysis on the previous order listed above.
Sell 12:27 EURUSD @ 1.3604, S/L 1.3655, TP at 1.3503. Stopped out for -51 pips. Personally, I thought everything lined up. After taking a look tonight, it looks like I traded in the middle of the channel, which is a no-no.
Here was the new order
Sell 19:28: EURUSD @ 1.3614, SL1 at 1.3655, SL2 at 1.3670, TP at 1.3581 Stopped for -56 pips.
My first mistake was moving my stop because I thought about triple Wednesday. Also, since my original s/l was 40 or so pips, my lots were scaled accordingly, making me loose more money. This trade did come within about 10 pips of my TP :(. The other thing that sucks is that the price turned right at my stop, and headed down. Fundamentally I really do not see much error, I should have kept my original s/l and re-entered as it passed down through 55 again.
I am down about 1% account value today.
Jan 7
Over the past few weeks, I felt that my manual trading was doing poorly but my overall profit was held up by my EA. This concerns me, because given the MT4 statements, I found it hard to extract my manual trade data. In an effort to make sure my manual trading system is properly debugged, I have decided to open a new demo, that only these trades run on.
I opened the account yesterday, and so far I am up, but my win loss ration is 2 wins, and 1 loss.
Going forward, I have decided to hunker down my manual trading. I think I was getting to anxious to trade.
The following rules are being reinforced:
2009.01.06 22:43 sell eurusd @ 1.3499 Trailing Stop hit at 1.3467, + 32 Pips
2009.01.06 22:44 buy usdchf @ 1.1178 Trailing stop hit at 1.1178, + 0 Pips (Good trade, but need to clean up my trailing profit strategy)
2009.01.07 03:40 sell usdchf @ 1.1153 Manual TP at 1.1029, + 124 Pips
2009.01.07 12:27 sell 0.10 eurusd 1.3604 S/L at 1.3655, - 51 pips (I still believe in the trade, but should have checked the news times first, the price seems to be coming back around)
Trades I am looking at:
I have a sell stop on EURUSD, at 1.3580 (one pip past barry's support) with S/L at 1.3638 (Using the H1 uptrend in case we are in retracement and not direction now), and a TP at the day open of 1.3503. If I see good price action, I will move this to a Trailing stop. The H4 lines up, the D1 looks like we are below the shi channel but not my LRC so I am a little nervous.
I opened the account yesterday, and so far I am up, but my win loss ration is 2 wins, and 1 loss.
Going forward, I have decided to hunker down my manual trading. I think I was getting to anxious to trade.
The following rules are being reinforced:
- Trade on the H1, wait until the initial signal candle closes and wait for the second to confirm
- Trade has to be confirmed on the H4, and somewhat supported on the D1
- I will take trades on the H4/D1 if I see an opportunity, but I still have to be into the 2nd candle.
- Proper money management
- Plan the trades.
- Use support/resistance as the guide for my.
- I want to limit myself to 3 trades per market day. This should limit my wanting to pull the trigger to fast.
- Wait to pull the trigger as long as possible.
2009.01.06 22:43 sell eurusd @ 1.3499 Trailing Stop hit at 1.3467, + 32 Pips
2009.01.06 22:44 buy usdchf @ 1.1178 Trailing stop hit at 1.1178, + 0 Pips (Good trade, but need to clean up my trailing profit strategy)
2009.01.07 03:40 sell usdchf @ 1.1153 Manual TP at 1.1029, + 124 Pips
2009.01.07 12:27 sell 0.10 eurusd 1.3604 S/L at 1.3655, - 51 pips (I still believe in the trade, but should have checked the news times first, the price seems to be coming back around)
Trades I am looking at:
I have a sell stop on EURUSD, at 1.3580 (one pip past barry's support) with S/L at 1.3638 (Using the H1 uptrend in case we are in retracement and not direction now), and a TP at the day open of 1.3503. If I see good price action, I will move this to a Trailing stop. The H4 lines up, the D1 looks like we are below the shi channel but not my LRC so I am a little nervous.
06 January 2009
Jan 6.
So its been a while, but I did not do much trading over the holidays. To be honest I lost some, and that was because I was not studying the markets enough. Yesterday was a pretty good day but I think I traded way to much.
Since there is no one reading this, I think I will use the blog as a way to analyze my loosing trades. I still need to record trades that I entered, but need to figure out a good balance.
I need to refocus, as I think I have lost my way abit, the only thing that is keeping my account from loosing money is my EA that I made.
So here is going to be my focus for the next week:
1. No instant orders they should all be pending, at least for market opening
2. Do not trade until the current candle is closed, or at least put in a pending trade. I have been stopped out too many times because the first 15 minutes of the 1h show a reversal, and going back to the longer trend, but then the candle moves back to the retracement direction.
My current Account balance:
$2189.32 (At least im up 10%)
Pending Trades:
EURUSD, Sellstop @ 1.3376, S/L at 1.3455, TP at 1.3250.
When I input this pending order, I thought EURUSD was done with retracement, the previous candle closed down after a couple ups from the days previous move down. It looks like we just went past the .50 fib. My price point was the close of the 1600 candle, which looked like the restart after the initial retracement. My S/L was based on the high of that same candle, and my T/P was what the Shi Channel would be a few time frames ahead. If the price breaks the .61 fib, I will probably cancel this order.
Since there is no one reading this, I think I will use the blog as a way to analyze my loosing trades. I still need to record trades that I entered, but need to figure out a good balance.
I need to refocus, as I think I have lost my way abit, the only thing that is keeping my account from loosing money is my EA that I made.
So here is going to be my focus for the next week:
1. No instant orders they should all be pending, at least for market opening
2. Do not trade until the current candle is closed, or at least put in a pending trade. I have been stopped out too many times because the first 15 minutes of the 1h show a reversal, and going back to the longer trend, but then the candle moves back to the retracement direction.
My current Account balance:
$2189.32 (At least im up 10%)
Pending Trades:
EURUSD, Sellstop @ 1.3376, S/L at 1.3455, TP at 1.3250.
When I input this pending order, I thought EURUSD was done with retracement, the previous candle closed down after a couple ups from the days previous move down. It looks like we just went past the .50 fib. My price point was the close of the 1600 candle, which looked like the restart after the initial retracement. My S/L was based on the high of that same candle, and my T/P was what the Shi Channel would be a few time frames ahead. If the price breaks the .61 fib, I will probably cancel this order.
Subscribe to:
Posts (Atom)