Tomorrow is booked thus far to be a paper trade day, few things I need to work on. 1. When to take trades via the method, to skip out flat choppy / changeable conditions. 2. Exiting at a loss, quickly and efficently, not digging in and risking account, need to prove to self, taking small losses occasionaly maybe more so is the way to do this basically. Daytrade practice, 3 weeks before account back, got to get used to MT4 on PC and Android tablet, screw Ipad tablet hateful on that
Lazy day, watched, looks great getting head around again, zero sim trades though, need some, but hey another day, got a 3 weeks.
Paper trading going well, 8 wins in a row up 80pts or $800 easy as on YM, but losers are my issue, so to keep playing until I get a loser and handle it well then keep going till it, taking losers well becomes second nature. 2 weeks till I plan to be back Live!!
Strong ass day, don't want to take a loser on purpose, had 10 trades not 1 went against me, to test my ability to get out fast, all moved so much wouldn't really be a issue unless it went 200pts against me anyway. I can role 20 profitable trades in a row, but then that 1 trade gives it all back, so got to keep Simming till I get some losers
Must get back on this, supposed to be going live again soon, method chosen, quick exits also the plan, not dig in and hope LOL that's suicidal too often. BUSY BUSY BUSY!!!
Ramp up, funding new account soon... Method decision made, going for a really simple setup.... 18sma Envelope 18sma 0.05% main trading range with direction. Envelope 18sma 0.08% this is my Give up and Run point. Real simple, play the range, with the current direction, 2 posititons average in. Practice, Practice Practice, got first 3 days of next week clear to practice, wait till showing demo profits before getting back live as it's been a WHILE!!
Stack of Stupid losers today, wasn't really paying attention then made it all back and more with 1 good mover! Looking forward to having an account back, hate Metatrader mind but needs must FXCM get back 100:1 margin on index's please.
Method check = FINE!! Stay away from painfully slow market conditions and all fine, range works a lot of the time, range with direction is at times very strong and makes 4x's the loss potential, if I'm not stupid and hold for ever for it to come back ofcourse. Need more Sim time, but kinda bored, so we'll see, maybe tomorrow, maybe do something more fun than watchng paint dry.
Still working on perfecting a method. I accept I need to Average in 2 or 3 positions as no way to perfect an entry, all easy after the event. Looking like primary range mainly and direction setup is :- 11sma Envelopes 11sma 0.04% and 0.08% Secondary system Envelope 60sma 0.08% This is, play range within, exit on breakout and trade only with 60's direction if available, looks to settle the issue, of when to quit and when to only trade trend. Looks promising, need a demo day then send the $$$'s back when confirmed okay enough.
Fair bit of testing on the DAX and the new plan, looks promising, IF I can hold it together when it's live and keep losses relatively low ofcourse. Basically playing Flat 60 within the Envelope the 11's Range. Outside the 60's range or 60 has direction, then play the 11's range with direction only. If Flat 60 trade becomes invalid, take the loss quickly, but not to quickly, tricky sometimes get a pull back other times get ass kicked waiting for a pull back, never an easy game LOL Average in, 2 or 3 positions, need to demo trade to see which works best I guess. Swing for the other side of the chop range, only on a break out do I get greedy and hold longer. NEED to get account setup soon, been ages, money just vanishes these days work is slowing down again, need this income up and printing $$$'s by end of November, sooner would be nice. Trying to get back to last time profitable, but with a safety net in place to stop the big draw downs without killing too much of the profit %%% ratio, looking promising, but without real $$$'s, Greed and Fear on the table, no idea yet!