31 March 2009

Trades for 1-April Overnights

I am not sure if I will continue this or not, but lets go ahead and post my trades.

Here are my trades that I will make tonight. I guess the GMT day will be April 01.

Pair - Stop type - Entry - S/L - T/P
EU Sell 1.3220 1.3308 1.3120
GU sell 1.4275 1.4385 1.4115
GJ Buy 142.35 141.20 143.48
EJ Buy 131.95 130.59 133.50

30 March 2009

The Point of an Edge

I was listening to an interview with Mark Douglas and here is the main points that I gathered from it:
  • Outcome of trades are random.
  • Indicators may look the same as they did in the past, but these are just mathematically formulas.
  • Markets are moved by people, not these formulas.
  • The point of our system is to give an edge, meaning we will trade more winners than losers.
  • We have to accept loss as part of the system.
  • Paper trading results versus real trading results shows us what we need to learn about ourselves.