Sorry for not posting I have been busy. Not that there is much to post. this week EURUSD was basically in consolidation mode meaning no trends and nothing but stop outs. after Mondday's trading I incurred about 3 30 pip stop outs and a -16 pip reversal on a trade for a -106 pip total Last night I had 2 positive trades for +45 and +40 pips. Total pips: -21 Currently long at 1.55015, this trade looks like it may put me over the breakeven point for the week hopefully. I desperately need a large move or two. Acct: 2990
IF YOU LOSS $2000 IN A $5000 ACCOUNT IN ONE DAY,,YOU ARE TRADING LIKE IT'S A GAME. YOU CAN'T TRADE LIKE THAT WITH OTHER PEOPLE'S MONEY OR IF YOU WORK FOR SOMEBODY. YOU HAVE RULES IF YOU TRADE OTHER PEOPLE'S MONEY.
I never lost $2000 in one day. I have had $2000 dollar swings in PnL tho over a week. That means that maybe I went from -500 to +1500 in a few trades. Its not a big deal because that is mostly in the past as I tried things that lets just say didnt quite work out. I actually do not think that trading is a game, I do take it seriously or I wouldnt bother with it at all. However, I do take it easy, money is just paper in the grand scheme of things, and by taking a light hearted attitude I dont let gains or losses cloud my judgement. The worst is to get depressed over losing 500 bucks and having wild mood swings causing revenge trading and losing more, been there, done that, got over it. Ideally you should be totally detached from thinking of the numbers on the screen as being money. The people that can do that have been the best traders I have seen. As for managing other people's money I agree you have to be careful and deliver only small losses. But currently I am only using my money to learn and develop techniques so all losses are on me and me alone so there is no one else to be concerned about. Finally back to my trading. I held up well all week in expectations of some trends and I finally caught one last night. I made 115 pips on EURUSD which made my PnL for the week and I am even positive since I started. I am back in the saddle and hopefully I will rock it again next week. Week 5: +$240 +7.9% Acct: 3270 Blotter to follow after work.
Here is the blotter as promised. In total I was able to clear over 200 pips in 3 trades on EURUSD which I really needed. I am excited about next week as I think there may be more decent moves. When I look back I am impressed by my prog trades (+400 pips) and I will try hard not to screw it up in the future so it actually reflects in my PnL lol. Have a great weekend everyone.
I missed the short trade last night because I didnt turn on my program in time (I coulndnt since I wasnt home) That would have been yet another 120 pip trade. Absolutely sick trends for my system. However, I think that 3-4 great trades in a row are what you usually get before a drawdawn occurs so I will hold off starting this week to see if maybe I can skip out a few stop outs and conserve my acct.
I turned on the program last night and caught some of the move up after an erroneous stop out. I was prob up 60 pips net the stop out but now the EUR is falling and I can only watch. Unlike last time however, the prog is on and will take the profit but if exited manually I would have gotten out at about 1.5613, over 20 pips ago..... I will post blotter after work. Acct is prob about 3370 or so.
I just wanted to post some of my latest signals on 30 min. The last 5 signals were pure beauty. Sadly I missed out on about 130 pips for not catching the last big short and messing up the last long a bit.
I was debating keeping the prog onthrough the FOMC announcement. Hoped I wouldnt get stopped out by sharp moves but I wasnt so lucky. I had two stop outs for 60 pips. Not much else to comment.