10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Convention

[counter_violent]

10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Convention

It's about time I sullied the journals section so here goes.
To set the ball rolling here are the last 2 days results.
Don't worry if you don't understand what i'm doing...cos I don't know either
There are no rules. Make it up as we go.

 

[Mr. Charts]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

"Don't worry if you don't understand what i'm doing...cos I don't know either
There are no rules. Make it up as we go. "

Are you looking for a career in politics?

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Politics hmmmmm.
I wouldn't want to belong to any club that would have me as a member!

Ok starting balance on account was £110.57
Gains so far £64.70
Overnight charges (0.24)
New balance £171.03

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Earlier in todays session booked 3 more winners.
£6.10
£4.00
£4.00

3 trades remain open over the weekend, all underwater, so I will work those on monday.

to be continued........

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

One winner added today £ 8.50
Over weekend charges 3 positions (75)
Overnight charge 3 positions (24)

New balance £192.64

Of the 3 positions open 2 are in profit but limits are not yet hit.

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

From another Journal posted by B S
-------------------------------------------------------------------------------------------------------
Mods Mods..there's a nasty man who got a bit shouty when he found me out... Anyhow bud, just checked out the ten pence gold thread, what can I say but huge respect! and I also believe the younger generation often say "You Da Man", or is that 90's speak...I lose track?

Now that's how you keep a journal, clarity, brevity...but where's your fooking charts, we supposed to take those 3 quid gains on trust? Pffttt!!
--------------------------------------------------------------------------------------------------------

U want charts...he posted no2


OK charts...i'll give ya charts then...current and going forwards...when a trade or trades are closed...the lines will disappear leaving only open trades as they stand or new trades added.

Bear in mind...if i'm long then I can only open longs...if short only shorts. It's one way management only...but I expressly reserve the right to make up any new rules i fffing well like at a mins notice or sooner whichever occurs first.

Was that "clar"and"brev" enough for you.

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

120 point winner @10p just filled @ $1128.50 £12.00

Starting balance on account. £110.57
Gains so far.....................£ 94.07
New balance on closed trades £204.64

Trade Tally
Wins... 12
Losses.. 0
Open.... 2

 

[arabianights]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

What's the balance including the open trades?

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

What's the balance including the open trades?

Morning mr nights

Just opened a 3rd position @ $1114.50
Combined underwater to the tune of (26.00)

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

3rd position closed @ $1126.50 for anther 120 point £12.00 winner.
2 positions remain open.
to be continued.....full update later.

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Not many voted in the poll.
Perhaps I should add another option....I don't know the answer

 

[trendie]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Not many voted in the poll.
Perhaps I should add another option....I don't know the answer

without knowing the context of the trades, and reasoning for them, its difficult to make any judgement.

good trades so far. I thought you were trying to show that big/no stops were better than small stops.

 

[timsk]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

without knowing the context of the trades, and reasoning for them, its difficult to make any judgement.

good trades so far. I thought you were trying to show that big/no stops were better than small stops.

Hi c_v,
Yes, I agree with trendie, background info' in terms of what you're doing is a tad thin on the ground! I thought it was one of those trader_dante type threads in which you try to run up a very small account quite quickly, just for the fun of it. Anyway, regardless of the method and the objective - you seem to be doing great. So, well done and long may it last!
Tim.

 

[Mr. Charts]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

I thought it was a spanish (but minus ego and plus brain) thread showing you could be profitable with random entries with expandable stops.
Richard

PS This is likley to be profitable as long as you do the opposite of most of the normal beliefs (i.e. myths) of trading.
Making up the rules as you go along should help a tad too.

 

[Black Swan]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

I voted; check out the link (under the photo) for a funny photo of Mc Cain/Palin, it's for real

http://www.localphotoratings.com/funny_photos/vote_for_obama.jpg

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

without knowing the context of the trades, and reasoning for them, its difficult to make any judgement.

good trades so far. I thought you were trying to show that big/no stops were better than small stops.

Ok trendie you mention the stops, well stops don't figure largely in this strat and certainly not in the first 3 positions as the market can expand and contract quite normally in this range. There will however be cato stops in place.

A stop essentially is the end of a trade. It always makes me smile when I hear people talk about stops as part of their trade management. Just stating the obvious, but there is nothing to manage when a stop is hit...it's over. Finito Benito.

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

Hi c_v,
Yes, I agree with trendie, background info' in terms of what you're doing is a tad thin on the ground! I thought it was one of those trader_dante type threads in which you try to run up a very small account quite quickly, just for the fun of it. Anyway, regardless of the method and the objective - you seem to be doing great. So, well done and long may it last!
Tim.

Yo Tim, Your right it is a very small account and because of this it needs position sizes probably even smaller than 10p, but we can only work with what we have so earlier on I was happy to take small monetary wins...but actually quite big wins 4%-6%for the size of account. As the account increases then there will be more rigidity applied to entry and exit levels.

Also, and this is very important...rolling over does not close and re-open existing positions (this would drain much needed capital and deplete margin) so some providers would be wholly unsuitable.
The financing overnight charges are manageable as part of the strat.

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

I thought it was a spanish (but minus ego and plus brain) thread showing you could be profitable with random entries with expandable stops.
Richard

Ta muchly.

PS This is likley to be profitable as long as you do the opposite of most of the normal beliefs (i.e. myths) of trading.
Making up the rules as you go along should help a tad too.

Ok it's very much a work in progress but entries will be based on what I would call a "dynamic grid". An expandable grid overlay on price. Bet size will be constant at each progressive (or should that be regressive) level, so it's not martingale in style or other such nonsense.

Reserving the right to intervene when needed...it's impossible to say what action may be required at any point along the way...but it would be foolish to be completely robotic about the strat.

cheers cv

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

2nd position now closed 80 points@10p £8.00

Never traded gold before last week....jolly good fun isn't it !

1position remains open ...target $1136.00

 

[counter_violent]

Re: 10p Gold Limits Stops Averaging Bad Trades & not Giving a Flying *** About Conven

First position now closed hit target @ $1136.00 gain of 63 points £6.30

Starting balance on account... £110.57
Gains so far..................... £120.21
New balance on closed trades. £230.78

Trade Tally
Wins..15
Losses.0
Open.. 0