2010 Trade Journal

Mr J · 22 January 2010

Stop is 20 pips, it's usually about 50. This is more of an insurance trade in case it doesn't get back to prices I'd prefer to enter at. I don't really think much of this trade, I'm just applying my entry method mechanically. I'd prefer to take good and bad trades than be hesitant and take none at all.

Well, it looks like that trade is now in your favour!! Good luck

Things can change fast .

Mr J · 25 January 2010

That one obviously didn't work. Review? I didn't like the trade, it was the third test of a level which I thought would be broken (I'm expecting a larger retracement). Still, following rules without discretion for now (at least for entries).

Trades: 1
Net profit: -20 pips
Win %: 0%

Short order at 1.4210, with stop loss at 1.4250.

Mr J · 27 January 2010

Picked up 40 pips last night buying 1.4050 and selling at 1.4090. Also moved the short order from 1.4210 to 1.4130. I won't be looking to hold it, I'll see how it plays. Rules would suggest buying 1.4050 again, but I'm leaving it for now.

Mr J · 28 January 2010

Well that was unexpected. Missed two potential trades (just woke up). First a short at 1.4040 at 11am. Couldn't have gotten this one without being awake though, since price was at 1.4040 when I went to sleep so I couldn't place an order for it. Second was a buy at 1.3950 at about noon, which I should have ordered. Not sure why I didn't even think about it.

Placing a short order at 1.4030, stop 1.4080.

Mr J · 29 January 2010

I didn't actually update my short order to 1.4030, but was on the spot earlier this evening and grabbed 1.4042 instead. Just sold about half at 1.3960. The stop for the rest is at 1.40, but things might change before I go to sleep.

MRC & Co · 29 January 2010

Think you need to post the charts J.

Mr J · 30 January 2010

Pictures are prettier than words, and it will allow me to comment and get feedback on price action.

Trembling Hand · 30 January 2010

Mr J said:
I'm starting this because I've barely made any effort so far this year, and a public journal might keep me honest. I've had about 20 opportunities, and taken just 2.

Mr J said:
Part of it is because I currently have no routine, and the other part is hesitation since I can't really afford a rough patch (I know ). I've had both of these problems before I got into trading, and they're stupid problems to have because they're easy to fix. All I have to do is force myself to trade and get into a routine.

Hmmmmmmm.......

whats that 6 trades in 9 days? whats your expectancy expressed in R's per trade? let me play around here,

Lets say 50/50 win rate 1 to 2 risk:reward.

Thats a 1 R expectancy per trader. 1 trade every 1.5 days = 166 trades = 166 R per year. less account drag (data, living etc) how much is your AAD? (annual account drag ) it would need to be exceptionally low or your account exceptionally high OR your R value very high as an account % to live off such a system.

Where is the

hesitation since I can't really afford a rough patch

coming from, A rough patch OR underlying depression from the realisation that reality aint matchin expectation?

Just askin'

Mr J · 31 January 2010

I can't estimate expectancy at this point. I expect my winrate to be at least 60%. If I didn't hold during trends, I'd aim for 1:1 and a trade a day. Since I do aim to hold during trends, R:R should be pushed quite a bit higher (e.g. my open position is currently about 4:1), but pyramiding and riding trends will also lower my number of trades. I still expect number of trades to be at least one per day because I'm currently restricting myself.

Thats a 1 R expectancy per trader. 1 trade every 1.5 days = 166 trades = 166 R per year.

Those figures are more than acceptable :.

it would need to be exceptionally low or your account exceptionally high OR your R value very high as an account % to live off such a system.

I don't need to live off the bankroll for a while. At some point I will need to, which is why I need half-decent results.

Trembling Hand · 31 January 2010

Mr J said:
I can't estimate expectancy at this point. I expect my winrate to be at least 60%. If I.................

One day I will come back to this point.

Mr J · 31 January 2010

Winrate or knowing whether I'm profitable? I know I'm profitable, I just don't know to what extent and don't have evidence to back it up :.

Trembling Hand · 31 January 2010

Mr J said:
Winrate or knowing whether I'm profitable? I know I'm profitable, I just don't know to what extent and don't have evidence to back it up :.

From somethings you have said like:

Not wanting to spend hours at the screens,

missing trades,

Needing to make yourself trade,

Your system is simple/unsophisticated etc

I don't see why you don't spend two days on NT or Ami automating it and be done with the torment.

Mr J · 31 January 2010

I don't see why you don't spend two days on NT or Ami automating it and be done with the torment.

It's not that much more trouble to do it manually, and I prefer doing it. I'm not missing trades anymore anyway.

Mr J · 2 February 2010

Short at 1.3924, stop 1.3974.

ThingyMajiggy · 2 February 2010

Charts.

Timmy · 2 February 2010

ThingyMajiggy said:
Charts.

This any good Sam? 4 Hr Bar (Mr J's preferred I think). As of now.

Chart from NetDania http://www.dailyfx.com/charts/netdaniachart/

MRC & Co · 2 February 2010

J, is your stop always a standard 50 pips?

ThingyMajiggy · 2 February 2010

Timmy said:
This any good Sam? 4 Hr Bar (Mr J's preferred I think). As of now.

Chart from NetDania http://www.dailyfx.com/charts/netdaniachart/

Yep thats the stuff, bit easier to see where he is placing his trades etc.

Thanks for that Timmy

MRC & Co · 2 February 2010

ThingyMajiggy said:
Yep thats the stuff, bit easier to see where he is placing his trades etc.

Thanks for that Timmy

Yes, much much easier. As for a trend, support trade, wouldn't take this one personally. See how it plays out.

skc · 2 February 2010

Wouldn't take that myself either...

What's the profit target, J? OR just let it run?

Timmy said:
This any good Sam? 4 Hr Bar (Mr J's preferred I think). As of now.

Chart from NetDania http://www.dailyfx.com/charts/netdaniachart/

Wow Timmy. That's fantastic service. Could you also do my charts from now on?!

And a flat white with one sugar please

2010 Trade Journal

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2010 Trade Journal

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