Hi guys, Jezzode here, aka BaconSandwich - I wanted to share my live account here in ET to gain both exposure, criticism and at times maybe a pat on the back, ha! I started speculation in 2008 and specify in FX, specifically GU and EU via CFD's since i'm based in the UK. Bio: This is a direct 'demo' mirror link to my personal live account and is for public viewing. Because this account is a true reflection you will see that pending orders and open orders will be displayed; trade history will also be available. This account has been benchmarked to $10,000 to keep performance measures simple and clean. Trading Style: 100% Technical Analysis. Placing orders on a Sunday evening for the upcoming week based on significant pricing levels which are fed into a systematic process. I will list the pending orders for the upcoming week in this thread at each weekend - therefore I am never trading in hindsight and hopefully will have some credit to my analysis and calls. The outcome from this is systematic orders with no discretionary intervention. Sounds fancy, but ultimately it's a highly developed set of fixed rules which determine trade levels with the highest probability based on passed performance over a large sample size. Currently we are looking at about a 55% win rate (excluding all breakeven trades which may hit the P&L as a minor loss) with average RR coming in at 1:2 risk to reward. Link to myfxbook account >>> https://www.myfxbook.com/members/BFXequity Here you can feel free to look at my verified results on the above account. This is a rather new public account which I have been asked to produce, so try not to be too heavy handed as the sample size is yet to be big enough to draw any conclusions from. Please look at the account which is called "The Systematic Account - Weekly Signals "....all trades that take place in this account will be discussed here in this thread. I want this journal thread here at ET to basically run alongside the public account in myfxbook - simple, right? Intentions Each weekend i'll be posting the trade levels that i'm interested in within both EU and GU. I'll also drop a few charts here to visually show the levels. I only ever look for one trade per week in both GU and EU and prodomentally use the 4H TF for key analysis. It's also really important to remember that even I disagree with some of the levels that my own system suggests entering orders at, however I will be following it 100% of the way - it has an edge and has been proven statistically. >> Also, feel free to criticise should you want too, I'm thick skinned and have been in the online forum game for quite a number of years within retail FX speculation
Do a solid 2 year track record - get it audited by KPMG/Deloitte/E&Y/PwC. Don´t overtrade. Keep your open positions low. Don´t leverage more than 1:3. Anything above will not be regarded by institutional addresses as "risk adjusted" but pure lucky "punting". And yes, FX as an asset class should be promoted. But then: What’s Driving the Unusual Calm in Currency Markets https://www.wsj.com/articles/whats-driving-the-unusual-calm-in-currency-markets-11552827600 FX market volatility at its lowest level since 2014 https://www.ft.com/content/82409b6c-4a55-11e9-8b7f-d49067e0f50d FX: Volatility in free-fall https://www.fxstreet.com/analysis/fx-volatility-in-free-fall-201903191259 Seems, you haven´t chosen a good time to enter this space.... Good luck + Good trading Nighthawk
Hey @Nighthawk I'm not doing this journal for institutional leverage or either to be compared to institutional 'benchmarks'. I'd much rather remain as a private retail trader, regardless of the success vs that of the city boys. Yea the volatility is low, but like everything in the markets it's only cyclical, i've been in this game for quite a few years - it will come back, just a waiting game and trying to adapt to what the markets are potentially offering, all bit it less than what we are used too. Should it ofcourse not return to the levels of which we have been used too then we are simply going to have to adapt and realign to a underlying change; but let us hope it doesn't come to that! Hopefully see you around!
Let us get the ball rolling by discussing this current weeks trades which are open at the time of typing this. The levels were listed over the weekend just gone.... Week 12 of 52 - Trade Levels GBP.USD - This week i’m looking for either a long at 1.2961 or a short at 1.3310. This would be an OCO set-up where one cancels the other upon being triggered. In both instances I will be using a 70pip stop and a 140pip TP based on the ATR which dictates this. The position size will be 0.28 std lots which represents a 2% of account risk. EUR.USD - This week i’m looking for either a long at 1.1176 or a short at 1.1330. This would be an OCO set-up where one cancels the other upon being triggered. In both instances I will be using a 40pip stop and a 80pip TP based on the ATR which dictates this. The position size will be 0.47 std lots which represents a 2% risk of account. Pre-trading week levels to look for LIVE UPDATE: As we can see both of the short positions have been triggered, with EU on Monday and GU on Tuesday. It's not looking great in EU with the TP set to BE, awaiting this to be reached - if it even gets reached, unlikely. However, GU looks promising and the entry was very accurate at the high of the current week to date. Here is a screenshot visually showing the two open trades so far... as seen in the myfxbook link also provided on post #1
I think it's really worth focusing on the GU trade that was triggered today - here is a screenshot showing just how on the money the trade level actually was when drilling down to a 15M TF. That's the second time this month where I've shouted a weekly level that's been within 1pip of the absolute weekly high/low which has been produced in GU - if only all the times rolled like this, especially in EU too
It's ok - the 19th March will be an afternoon to remember...no doubt as I retire for the night price will rally up past the entry price and i'll have to delete these posts
Other than this being proof of nothing; you will not find a backer. And the demo account mirroring your production account is just absurd. Treat it as a method of maintaining discipline and nothing more. GL.
Other than this being proof that you can't read, or indeed don't read; because I've not even stated that I want to find a backer? This is me and my account, with live calls before the trading week even starts - which is far more than most people here are willing to give out in terms of verified proof and credibility. These are the same real trades that take place in my real live cash account, just with proportional adjustments made to the position sizes given the differential between the live and demo account balances. Obvious stuff really. If I want to hide my own personal account net worth by deciding to go through a 'benchmarked' demo account than that is my own personal choice and certainly not something you have the right to comment upon. Unless of course I was looking for a backer, in which case it would be absurd - but I just can't seem to find where I actually said that! urghhhh GL to you too...