Live & Die by the sword....

[FetteredChinos]

yup.. seems to have got a bit dirty over the weekend and the signals are getting cloudy lol...

 

[trendie]

oof. stopped out for -39 at 1.7595.

now long from 1.7596...

hmm..

what happened to the 50-pt trailing-stop ?
rule change ?

 

[FetteredChinos]

it dipped to 1.7545 just after entry so i moved my stop to 1.7595.

looks like the long is about to bite the dust too..

 

[trendie]

I agree. I went LONG at 1.7594. But I will wait for breach of S-1 at 1.7560 to bail-out.
Or maybe earlier...

 

[FetteredChinos]

nadgers, out for -34 at 1.7562

short from 1..7562 now....

hmmph..

 

[FetteredChinos]

stop moved to 1.7561 (+1)

lets hope it runs down for the rest of the day...

 

[SvenFoster]

nadgers, out for -34 at 1.7562

short from 1..7562 now....

hmmph..

Any newbies out there(i include myself in that list) should look on in ore at FC's discipline in following the rules of his system.
Bearing in mind this may only be an experiment and he most likely entered into it expecting to lose I still think that you're exhibiting several of the traits I am sorely missing from my trading, namely discipline and systematic approach.

It strikes me that I should follow the random approach(exactly) for 20 or so trades and see if it improves my discipline. Also I suspect that any success no matter how limited may give me more confidence in my own developing approach as its got to be better than tossing a coin right?

keep up the good work old bean (until your pockets or plans have been satisfied)
Its given me a few thoughts to ponder.
cheers - Sven

 

[FetteredChinos]

thanks Sven, im glad you are finding it useful.

posting on this board is also ramming the discipline back into me. its a good training exercise at the least, and over the long run, it should at least break even in theory. which is a lot better than 80% (or whatever the figure is) of traders out there.

im gonna keep doing this til the end of july, by which time we should have some 60 trades or so to analyse..

toodle-oo.

fc

 

[FetteredChinos]

phooey, stopped out for +1

now long (!!!!! another direct flip!!!) from 1.7558, stop at 1.7508

im gonna give this another week, then tighten the stops somewhat to perhaps 40 pips...

FC

 

[trendie]

phooey, stopped out for +1

now long (!!!!! another direct flip!!!) from 1.7558, stop at 1.7508

im gonna give this another week, then tighten the stops somewhat to perhaps 40 pips...

FC

or....
take two trades.
allow one as trending, with trailing stop, as currently.
and the other as a profit target, say 2ATR.

 

[FetteredChinos]

hmm, but the expectancy of the one with a profit target is going to be zero isnt it? or do you advocate trailing the stop on that one as well?

 

[trendie]

when you take the trade, both will have a absolute stop, in your case, of 50 pts.
but when the trade goes in your favour, the second trade, hitting the profit target, is to account for the situation when the market is rangey.
I have found, on my journal, that the profit target helps to bag profits in rangey markets.

In fact, most of the more believable ideas, such as jeminipatel, 1-2-3, Ross Hooks, etc, have some short-term profit target, and allow the rest of the trade to develop.
I think it helps on the psychological side.
( eg; if the trade was to go to 49 pts before reversing, back to break-even. this would do my head in.)

PS; take this all with a pinch of salt. I am dpwn 111 today, so far !!

 

[FetteredChinos]

viz my recent trade... was +51 at one point, closed at +1 in the end... hmm, hence my desire for something a wee bit tighter..

ahem.

 

[FetteredChinos]

stopped out yet again for a total oof -99 for the day


overall score:

Trades:11
Wins:5
Cum Profit: (3)

back to breakeven. but runs of losers are to be expected...

fc

 

[JillyB]

Hi FC

I've been looking at a little strategy of my own for FX (this is all your fault - I was never interested in it until I started reading this thread :cheesy: ). I was wondering if you would mind if I add a couple of posts a day when the strategy gives me a buy/sell signal. You can then :-

a) give me your thoughts on it,
b) laugh outrageously
c) tell me to get lost
d) all of the above.

It's worked on a 15 min chart, so it's been generating about 2 trades a day so far.

If you'd rather I didn't clutter up your thread, just say - won't be offended.

 

[FetteredChinos]

go for it Jilly, im all ears for new ideas..

fc

 

[JillyB]

Ok, thanks. Will post first one in the morning.

 

[FetteredChinos]

coolio.. i'll look fwd to it..

how are you determining entry /exit, or are they top secret?

 

[JillyB]

That's a bit of a long, long story - its sort of work in progress, but quite a simple theory that seems to give good entry points. I'll post a chart with the entry point so you can see.

Exit points and stops will be set based on MA's for exit points and a wide bollinger for stops. I usually move these up as the trade progresses.

 

[haleh]

That's a bit of a long, long story - its sort of work in progress, but quite a simple theory that seems to give good entry points. I'll post a chart with the entry point so you can see.

Exit points and stops will be set based on MA's for exit points and a wide bollinger for stops. I usually move these up as the trade progresses.

Why don't you guys get married, i provide the rice(fried rice ) i can't take this any more, it's making me ill. respect