I look forward to your success in 2005. Goodluck. I am a trend follower. But to diversify, I need reversal system to compliment my equity curve. And, my mistake I missed your modifications posting.
I am holding USD/CHF shorts through the updraft, will reassess after the stop runs....my entry was terrible. I didn't wait for daimyo or murrey. Murrey gave me more than 50 pips profit yesterday. the same can be said for my gbp/usd entries, more than 50 pips profit easy if I waited for murrey! oh well, i'm not panicking, I just have to break a rule for a few hours and see what's next.
no worries, thanks for the encouragement! try murrey math with tight stops, you'll be surprised how well it works on equities and futures.
I panicked this afternoon. not smart. have to get over these nerves. trading to be right now, rather than to make money. I decided that this is an opportunity to become a better trader, so instead of pulling my stops (which held anyways), i am going to trade the range and take profits sooner. and here's a new trade which came up... 20k EUR/USD B 1.3193 Limit 1.3300 Stop 1.3112
10k GBP/USD B 1.9269 Limit 1.9390+ 121 10k USD/CHF S 1.1515 Exit 1.1484 +29 10k GBP/USD B 1.9048 Exit 1.9176 +128 10k USD/CHF S 1.1623 Limit 1.1474 +149 10k EUR/USD S 1.3412 Exit 1.3410 +2 10k USD/JPY B 104.25 Stop 103.90 -35 10k USD/CHF S 1.1585 Stop 1.1620 -35 10k USD/CHF S 1.1615 Exit 1.1557 +58 10k EUR/USD B 1.3207 Exit 1.3285 +78 10k EUR/USD B 1.3259 Exit 1.3350 +91 10k EUR/GBP S .6935 Stop .6960 -25 20K GBP/USD S 1.9335 Stop 1.9415 -160 10k GBP/USD S 1.9400 Limit 1.9300+100 20k USD/CHF B 1.1360 Exit 1.1370 +20 10k EUR/USD B 1.3460 Exit 1.3530 +70 10k EUR/USD B 1.3460 Exit 1.3461 +1 10k EUR/JPY B 138.35 Exit 138.65 +30 10k GBP/USD S 1.9400 Exit 1.8820 +590 10k EUR/JPY B 138.35 Stop 138 -35 20k USD/CHF S 1.1675 Stop 1.1776 -202 20k GBP/USD B 1.8830 Exit 1.8860+60* 20k EUR/USD B 1.3193 Exit 1.3230+74* ___________________________________________ Starting Balance(assume one dollar for each pip): 2000 USD Closed Balance 3099 USD *I re-adjusted my exit to 1.3280 on EUR/USD this afternoon and, somehow, was filled at that price. I still can't believe my tradestation, I expect this trade to be voided. So I'm going to compromise on my pip totals. The exit on GBP/USD is an actual execution however. And, of course, so is the USD/CHF stop out. Guess the USD is really retracing finally =) Next USD/CHF buy sig will be very large size trade for me. I am going to take a week off here and try to settle my nerves a bit. I am taking each trade too personally. I had a nicely profitable week but I actually lost sleep over the two losses
i got a pm from a programmer this weekend and he created a modified CCI with a bollinger band around it. its an improved indicator over the daimyo and a plain CCI for sure. simply because the lines of support and resistance are dynamic now rather than static at +/- 100. there is also a new component that daimyo never had. the "squeeze line"(which measures bollinger band contraction)it can predict when a nice size price move will happen. it just so happens that these moves are followed by reversals when the outer bollinger-fibo is pierced. i really like this new indicator because the bollingers get really tight during trend phases, so there aren't any signals until the trend is definetly over. during the november moves you can barely see the CCI because its buried inside the tight bollingers. a sign there aren't any reversals regardless of where price is in relation to the bollinger fibos. in the back of my mind i am laughing as i cursed the cci for it sluggishness in the past. but it wasn't the cci, it was the price action. it was trending, and this system i trade is a reversal system. the solution was to find a way to stay out, or be in, with the trend. well, i finally found it.
This week, I did make one trade. It was the big one I was anticipating on the USD/CHF to try and average out of my huge drawdown from october. I bought 100k USD/CHF at an average price of 1.1655, for the total of my trades my break even price is now 1.1885. Took partial profits on half at 1.1800. I won't count it towards my posted trades, but I am sure relieved to have made a huge chunk of my drawdown back in less than 24 hours. There's nothing as satisfying being right when the big money is on the table. See ya next week!
20K GBP/USD S 1.8695 Limit 1.8615 Stop 1.8750 Open trade(based on model size portfolio) 10k USD/CHF B 1.1655 Limit 1.2146 Stop 1.1730 Indicators gave a buy sig yesterday but the slope of the BBCCI was far too flat. I took a scalp for 10 pips on the 0/8th MML but I didn't have any conviction in the rally. Spoofed by my own system today. The sell, looks much better here.
10k GBP/USD B 1.9269 Limit 1.9390+ 121 10k USD/CHF S 1.1515 Exit 1.1484 +29 10k GBP/USD B 1.9048 Exit 1.9176 +128 10k USD/CHF S 1.1623 Limit 1.1474 +149 10k EUR/USD S 1.3412 Exit 1.3410 +2 10k USD/JPY B 104.25 Stop 103.90 -35 10k USD/CHF S 1.1585 Stop 1.1620 -35 10k USD/CHF S 1.1615 Exit 1.1557 +58 10k EUR/USD B 1.3207 Exit 1.3285 +78 10k EUR/USD B 1.3259 Exit 1.3350 +91 10k EUR/GBP S .6935 Stop .6960 -25 20K GBP/USD S 1.9335 Stop 1.9415 -160 10k GBP/USD S 1.9400 Limit 1.9300+100 20k USD/CHF B 1.1360 Exit 1.1370 +20 10k EUR/USD B 1.3460 Exit 1.3530 +70 10k EUR/USD B 1.3460 Exit 1.3461 +1 10k EUR/JPY B 138.35 Exit 138.65 +30 10k GBP/USD S 1.9400 Exit 1.8820 +590 10k EUR/JPY B 138.35 Stop 138 -35 20k USD/CHF S 1.1675 Stop 1.1776 -202 20k GBP/USD B 1.8830 Exit 1.8860+60 20k EUR/USD B 1.3193 Exit 1.3230+74 20K GBP/USD S 1.8695 Exit 1.8665 +60* ___________________________________________ Starting Balance(assume one dollar for each pip): 2000 USD Closed Balance 3159 USD *Entry was far too low to be confident the trade can yield much more. Will look to reshort later today. Open trade 10k USD/CHF B 1.1655 Limit 1.2146 Stop 1.1730