Mr Cat learns to trade

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( Decision do i adjust stops in?)

Close position. +45

0, -12, +45 (days profit 3.3%)

 

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AUD/JPY 1 S 91.906 92.100 Risk .2%

(eval - trade is light according to rule 4 should have been .6%)

Stop filled loss -1.79%

 

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0, -12, +45, -2

Shape next deal..... $16.00 profit target. Initial risK .35% As position builds sit at 1-2%.
Dont add to losing deals. Invest profit into risk. OR Look for freerolls aned small locked profits.

Anyhow time for a break.

 

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EURUSD - Qualified for trade. Awaiting trigger.

Stop will be 146300.

 

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Mate the title of this thread is Mr Cat LEARNS TO TRADE.

Wtf are you actually learning p*ssing about like this. And what specifically do you hope to gain from just posting your trades like this. You don't appear to have got sound reasons for your positions, and as such your hit ratio is almost guaranteed to be lower than you need based on your r/r profile (especially taking into account both dealing spreads and market short term noise).

Do yourself a favour. Have a total rethink. Come back with sounder trade rationales, less trades, wider stops, and forget all this 'freeroll' cr@p. You actually have to risk money to make money. What you're doing just amounts to death by 1000 cuts imho.

Hope you take this criticism in the spirit that it's meant. If not, don't worry, I shant post any more. Only reason I'm doing so is I do sense somewhere you genuinely want to leanr.

GJ

Thanks for the feedback..... its nice that you are reading.

There is actually a fair bit of thought behind the system. If your interested i'll discuss it. The short story is that what I am exploring is devising a system that will not be prone to psychological blowout, and which systemically minimises the impact of design error. (ie getting the direction wrong).

As far as noise goes.... its probably the safest thing to trade psychologically. I tested this a couple of weeks ago against the trend and it worked over very limited paper trading, now i'm testing it with the trend with a scale in scale out dimension.

Entry, exit, add, subtract, and closeout all are defined - though this is not my focus at the moment. Once I have something that i feel works - i will backtest and fine tune these definitions. At present i am working on the risk management aspects.

Anyhow I asked you before - how would you trade to daily turn 1000 into 1050-1100 because if I get something that gives 5% a day I would be tickled.

 

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"And what specifically do you hope to gain from just posting your trades like this. "

Well its my journal so I am doing it for me - though i am happy for others to read and heckle or comment.

Just publically posting all the trades keeps me honest. It also I mean by this i dont start wildly experimenting. There are other psychological benifits I am finding, and it is creating habits of recording trades planning. It also means I have a permenant record of what I have done technically, and can identify key decision points in review.

PS I think setting up freeroll situaltions are really important, as they represent time in the market without downside and with upside.

 

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Also writing it down means I have to keep calculating risk ratios. If you cant see the upside in the chart, you have to pull risk in. If you pull the risk right in, or even over into a small profit locked in, if it goes your way you win big time - the zero risk + paper profit factor means you can really load the deal. Its zero risk - the only cost is patience.The more time yr in the market the more time you've got of catching the bottom, so zeros count as losses.

 

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Got a qualifying signal to sell EUROUSD. 1.4640 looks like a place for a stop. Its gonna take a while. Got a qualifung sell on EURCHF. I.6070 looks like a good stop

Maybe I should read some news.

 

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AUD/USD 8 S 0.85187 .85304 Risk 1%

AUD/USD 1 S 0.85095 0.85300

State of play -9 .85177 Stop 300

(Choice point) Q. Do i lockdown and free roll? Wait and if it breaks lock in a profit.

Moved stops out to 85400

Closed position for $1.76 loss on a sharp retraction.

 

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0, -12, +45, -2, -2 = +2.9%

Next deal Ave .53% Target 2%

 

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That big retraction has taken this market off the qualified list.

 

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Anyhow im out for the night. Heres the closed deals.

AUD/USD 1 S 0.85095 0.85194 -9.9 -0.99 0.00 09:28
AUD/USD 8 S 0.85187 0.85194 -5.6 -0.56 08:39 09:28
AUD/JPY 1 S 91.906 92.100 -19.4 - 1.79 04:08 04:33
AUD/JPY 4 S 92.435 91.955 192 17.70 02:53 04:00
AUD/JPY 2 S 92.389 91.955 86.8 8.00 03:26 04:00
AUD/JPY 2 S 92.337 91.955 76.4 7.04 03:37 04:00
AUD/JPY 3 S 92.255 91.955 90 8.30 03:38 04:00
AUD/JPY 3 S 91.895 91.955 -18 -1.66 03:55 04:00
AUD/JPY 3 S 91.991 91.955 10.8 1.00 0 3:51 04:00
AUD/JPY 3 S 92.134 91.955 53.7 4.95
AUD/JPY 1 S 92.475 92.455 2 0.18 03:13 03:32
AUD/JPY 1 S 92.508 92.575 -6.7 -0.62 03:03 03:05
GBP/USD 6 S 1.80296 1.80497 -120.6 -12.06 02:21 02:40
GBP/USD 6 S 1.80339 1.80339 0 0.00 02:01 02:16
Total 44 331.5 29.49 0.00

 

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Total Trades -13
Win 7, Lose 5 Zero 0

Ave Win 6.12
Ave Loss 2.76

Ave Profit to Loss = 2.23 (69%)
Win Lose = 58/42 (Zeros excluded)
Catfactor = 1.6 factor 1.0 = breakeven
(Ave Profit to Loss * Win/.25 = (.69 x .58)/.25)
Profit = 2.9%

 

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Working on thesis. Trade later this afternoon.

 

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AUD/JPY 3 S 89.826 Stop 90.003 Risk .53%

Filled out

Loss 5

 

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GBP/USD 1 B 1.77329 Stop 1.76800 3/09/2008 07:09 Risk = .52 Target 15

Close loss .81

-5, -1

GBP/USD 10 S 1.77260 1.77500 Risk 2.4%

filled out loss 24

-5, -1, -24,

 

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Flurry - silly rather - break in discipline/

-5, -1, -24 -7

I'm breaking discipline - trying to find deals.

Anyhow that takes me over the 3% blowout limit. Stop.

 

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V Important why the discipline break? Cause i wanted to trade even though i didn't have a signal.

Thus I need to have a range of signals tuned to situations and make the switch.

I need to design activity and creativity in so the rules can be obeyed. So I can respond to new situations in a contr4olled and thought out way.

 

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EUR/USD 3 S 1.44390 1.44658 -8.04
EUR/USD 1 B 1.44553 1.44610 0.57
EUR/USD 1 B 1.44523 1.44602 0.79
EUR/USD 1 B 1.44459 1.44601 1.42
GBP/USD 10 S 1.77260 1.77500 -24.00
GBP/USD 1 B 1.77329 1.77247 -0.82
AUD/JPY 3 S 89.826 90.003 -4.92

Total 20 -353.9 -35.00 0.00

WL 3 Wins 4 Losses

Ave win 1

Ave Loss 9

 

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New Day

EUR/USD 5 S 1.44968 Stop 1.45105 2Risk 27.5 2.75 0.00 4/09/2008 06:06