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My little Forex thread

OP
OP
AlwaysCurious

AlwaysCurious

Contributor
Jan 16, 2008
274
56
26
GMT +1
Ok, month's end, next update.

Thanks to all kind suggestions to concentrate more on the trade plans, I managed to perform better this month than before. I also decreased my position sizes to very low amounts until I proved myself, that I really have an edge on Forex and to cut down losses on the way. My first month (well actually it's been just one week) resulted in an 11% loss, in October I made a little more than 12%. Yes, I am exactly at break even again.

This week I performed well, making 684 Pips that lead to a 7,7% increase of my account. Compare this to other investment forms during this stormy times. And remember, I used very small positions, so I had literally no risk (less than 0.2% per trade). I don't mind if I manage to maintain this speed a little longer ;)

And here's the graph:

I am really happy, how the curve avoided the legend on the right :rofl:

I follow two strategies at the moment, all manually.
1) Trading naked without any indicators except support and resistance lines an a 4h to 15m timeframe. See this Forex Factory thread
2) Trading short term divergences using RSI14 and some moving averages on 15m to 1m timeframe. It is similar to the Synergy strategy.

With patience and concentration both strategies play out well. Once again, thanks for the kind comments and the encouragement here.

Happy Halloween
 

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cmartin371

New Contributor
Apr 14, 2008
142
13
22
47
Nashua, NH
Nice work always! Sounds like you made some strides on the MM side of things and tackled the greed factor as well! Keep it up and remember that keeping your money is as important as making the money. Stick to your rules and you will be fine!

PS....good to see you trading naked! Price is all you need.
 

g-dogg

New Contributor
Aug 24, 2008
57
5
17
Good job, im glad to see that you kept your DD under 10%. I like the fact that you are fine tuning your Money Management its really the key to successful trading! good luck, and if you need anything or just want to talk positions feel free to pm me :D
btw the no brainer trades blog looks pretty useful i would look more into it.

Andrew
 

FxInvestor

New Contributor
Nov 7, 2008
24
6
19
Mumbai, India
Hey good job on the trading. I personally like to trade with only S/R and trendlines. It works for many reasons. Getting 100-150 pips on good days can be normal. Sometimes, even 40pips is good. I never take more than 2 trades per day and keep SL to 40Pips.
Entry is just half the battle won. The KEYS to the magic kingdom is Moneymanagement. Mostly GBP/USD is my fav currency as its volatile.
 
OP
OP
AlwaysCurious

AlwaysCurious

Contributor
Jan 16, 2008
274
56
26
GMT +1
Update after 100 days of live trading, now with weekly data:



Looks quite boring, but believe me, it is very exciting. Well, at least for me :smxF:

As you can see, I missed all of my goals, even the minimal one. The last weeks I didn't have enough time to trade seriously, but none the less, I am still near my starting point. Only 5 out of 15 weeks were within target. Biggest weekly loss has been 10.24%, biggest gain 10.19%.

Still I don't want to change my goals. I keep up my optimism due to the fact, that even though I am a complete unexperienced trader in an extreme difficult market situation, I am not amongst the 95% losers in this game. Always look at the bright side of life, eh?
 

cmartin371

New Contributor
Apr 14, 2008
142
13
22
47
Nashua, NH
Update after 100 days of live trading, now with weekly data:



Looks quite boring, but believe me, it is very exciting. Well, at least for me :smxF:

As you can see, I missed all of my goals, even the minimal one. The last weeks I didn't have enough time to trade seriously, but none the less, I am still near my starting point. Only 5 out of 15 weeks were within target. Biggest weekly loss has been 10.24%, biggest gain 10.19%.

Still I don't want to change my goals. I keep up my optimism due to the fact, that even though I am a complete unexperienced trader in an extreme difficult market situation, I am not amongst the 95% losers in this game. Always look at the bright side of life, eh?
100 days....lesson learned? How to keep your money! Good job!
 
OP
OP
AlwaysCurious

AlwaysCurious

Contributor
Jan 16, 2008
274
56
26
GMT +1
It is quite embarrassing for me, but I have to admit, that I failed at Forex so far. Now my live account is down by 30% leaving me a little startled because my personal feeling tells me that I learned a lot about it in the last months. But the outcome is not very promising so far.

But heads up, I am already working on the lessons learned, which I will post later. A thorough analysis takes a lot of time. In the meantime I tossed over all indicators and concentrate only on price action. The next and considerably harder issue on my to do list is to document my trades in more detail, about the set-up, estimated exits, and so on. As a side effect I expect to trade less but more quality set-ups.

I'll keep posting. 70% of my play money is still available...
 

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