Tradex Forex Journal

Discussion in 'Journals' started by Tradex, Jun 7, 2020.

  1. Onra

    Onra

    Glad you made something back for the weekend!

    But why EURJPY so late in the session?
    It already had a decent range...
     
    #151     Jun 12, 2020
  2. Tradex

    Tradex

    Thanks Onra.

    Yes I know, EUR/JPY has "already" made its move.
    But in trading, "decent" ranges can become indecent in a heartbeat.

    On Friday's, a currency can move 100 pips up or down, consolidate a little, and then move another 100 pips (or more) during the last 2 hours, without any warning or even news.
     
    #152     Jun 12, 2020
    Onra likes this.
  3. Tradex

    Tradex

    Out EUR/JPY at 120.88, 28 pip loss.

    Oh well, still +22 pips for today.
     
    #153     Jun 12, 2020
  4. destriero

    destriero

    Dude, you didn’t put me on ignore. You’re unreliable. The guy trades into the NY close on Friday... total amateur hour.
     
    #154     Jun 12, 2020
    ChipShotTrader likes this.
  5. old coot

    old coot

    OK, just trying to keep up. So, you're talking about being +22 for the day, which is good, are you still down 66 or something like that? Maybe you can put a box at the bottom of your post saying something like

    Day 4
    +xx for the day
    - XX for the total.
     
    #155     Jun 12, 2020
  6. Tradex

    Tradex

    Sure, I was about to do that today.

    Trading results since the beginning of this thread (Monday June 8, 2020):
    EUR/CAD: Breakeven
    CAD/CHF: Breakeven
    NZD/CHF: -10 pips
    EUR/CAD: -33 pips
    AUD/NZD: -21 pips
    EUR/USD: +50 pips
    EUR/JPY : -28 pips

    Total this week: -42 pips.

    The system keeps the losses short and waits for the big trend.

    In fact, if a trader does not love small losses then he has no business trading. How the trader deals with losses is what truly differentiates the amateurs from the pros.

    And again, profitable trading has nothing to do with the winning percentage.

    Have a good weekend and see you next week.
     
    Last edited: Jun 12, 2020
    #156     Jun 12, 2020
  7. heispark

    heispark

    So, basically, your system is a lottery model.....

    "the lottery model where you make many small bets and lose most of them with the hope of hitting a ten bagger trade on just one of your tries and the insurance model where you win almost all your small bets and try take as few big losses as possible."

    https://www.bkforex.com/boris-schlossberg/you-dont-sell-insurance-in-a-hurricane/
     
    #157     Jun 12, 2020
  8. Tradex

    Tradex

    No, for the simple reason that markets are not random, they trend. In other words they have a tendency to continue doing what they are already doing.

    A trader like you should know that by now.
     
    Last edited: Jun 12, 2020
    #158     Jun 12, 2020
    heispark likes this.
  9. Last edited: Jun 13, 2020
    #159     Jun 13, 2020
    Tradex likes this.
  10. Tradex

    Tradex

    Well, we all need to be a little crazy if we want to survive in this crazy trading business. :D
    Thanks for stopping by ChipShotTrader.
     
    #160     Jun 13, 2020
    ChipShotTrader likes this.