Watch the rise (or fall) of a trader gone naked
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thread: Watch the rise (or fall) of a trader gone naked

  1. #1

    Watch the rise (or fall) of a trader gone naked

    Current standing, November 25th 2010: I've made it past the initial hurdle, or will be the 10th...? I've obtained a profitable system! Would you think that?! Oh it feels really good!

    It is entirely technical, no distinct decisions at all, without any fundamentals. Backtested the **ker for ten decades, and it's got drawdowns, but nothing good old MM can not take care of. Been trading it for a little while now, and it's attracted 11 percent to my account.

    Naturally, there are no guarantees that it'll continue to be profitable, but the chances are good. It has got a couple of crucial compontents. Additionally, it is simple and straightforward.

    I am also aware that there are more hurdles ahead but they'll enhance my system.

    I will not share it. I've been taught (Thank you so much! You know who you are...) that one has develop as a trader (and as a person) by yourself. It makes findings that more clear and one accomplishes a greater understanding for the machine and the indiors in it, and how they operate on the inside.

    But I am Pleased to discuss another system. I exchange it on EU 1H. There's a summary in post 397 in this thread. Please feel free to comment and/or as questions. I've been trading it for nearly two months and since that time it's added 16% (2% risk) to my account.

    Three threads that has been very useful:Https://www.cliqforex.com/trading-sy...ys-course.html CrucialPoint (excerpt from my trading journal over time ) Jacko's Forex House of Pleasure and Pain
    The aforementioned was added AFTER this thread was started. Below is the original first post.

    Hi *,

    I've been trading for a couple of decades, give or take a couple of months. Stocks, stock options, FX, scalping, indiors, this particular system and that system. Lost approx. 10% on a 15K account, went straight back to some 2,5K account and dropped approx. 75 percent of that. Got kicked in the a** by volatility. Etc, etc..

    However, I just can not feel that I won't eventually succeed. As of JulyI changed my egy (again...) to trading daily charts just. Buying or selling, together with the principal trend, in the conclusion of retracements. Maybe I will publish this egy in greater detail later, but I've pretty much got all of it from different threads here at FF.

    I must say (even though it's a common newbie statement), please bare with my misspelling and bad grammar. English isn't my first language.

    Anyhow, go on and learn some thing, or, more likely it seems, have a good laugh on my behalf. More inclined as from the 95 percent will fail rule...Pro's: Feel free to post constructive criticism. Newbies: Don't repeat my mistakes!
    Until later, have a nice day, month and week

    Regards,

  2. #2
    Short @ 1.2907
    SL @ 1.2930

  3. #3
    Most folks around here the challenge is getting me to shut the f**k up!
    Maybe afterwards...

    Only look for major areas and try not to wind up with a chart covered in flat lines and fashion lines (that I do not care for much, myself).
    I will not go blurring my charts again, like I did initially. Person, the charts looked enjoyed a Christmas tree, all blinking in different colours.

    Of course, it will mean that your stops will increase as you look for decent S/R areas to conceal your ceases behind and this is where you are money management skills will improve as well. So, your normal position size will fall. But if you are keeping to a sensible risk profile (1-2percent ) then the fact that you aren't getting stopped out thus frequently should balance this all out.
    So that you are not monitoring your stops? My gut feeling tells me neither should I, but I have read posts from many a nude trader that trailing stops would be the key.

    Reading my ribbon is optional - there are no magic bullets in there!
    I am not looking for one.

    But there is at least one post that will let you find that making mistakes comes with the land,
    I understand. It's all part of the road I must travel. Wish I knew the E.T.A.. .

    even in the event that you sound as in the event that you understand what you are talking about .
    Tricked you!!!

  4. #4
    Junior Member anpknittousa's Avatar
    9
    Hello *,

    I have been trading for two decades, give or take a couple of months. Stocks, stock options, Currency Market, scalping, indiors, this system and this system. Lost approx. 10% on a 15K account, went back into a 2,5K account and dropped approx. 75 percent of that. Got kicked at a** by volatility. Etc, etc..

    But I simply can not feel that I won't eventually triumph. As of JulyI changed my egy (again...) to trading daily charts just. Buying or selling, together with the main trend, at the end of retracements. Perhaps I will publish this egy in detail...
    Before you make your initial trade, you should place your egy here first.
    That helps to ensure that you have a egy.

    Trade well. And also make lots of money.

  5. #5
    Before you make your first transaction, you should put your egy here .
    This helps to ensure that you have a egy.

    Trade well. And also make lots of money.
    Sure, will do. However, I can not guarantee that I can do that before my first transaction. Already in my trade

    Take care

  6. #6
    It isn't complex and not extensive. And nothing new. As I said, I have picked the bits from the forums here at the mill.

    Here's a summary:
    1. With the trend.
    2. No indiors or fashion lines.
    3. Daily charts.
    4. Search for higher highs/lows and lower highs/lows to specify whether a true trend is about.
    5. Input immediately after a reversal bar has emerged (or in case of a quick moving stage, at the prior high/low of the market).
    6. Majors (forex, commodities,...).
    7. Stops or monitoring stops at preceding fashion high/low.
    8. In case of a loss , take an opposing trade.

    In regards to money management, normally I'd risk no longer than 2 percent of the account, but in this small experiment between just $2K, I will stick with the smallest trades enabled together with my broker. It's 0.1 lots.

    I've got more thoughts on this that I want to talk about, but that'll have to be later. Got to go to work now

  7. #7
    You are persistent, which means that your success will come.

    All of the best,

    DW
    Thank you DW!

  8. #8
    First, I am pretty sure that nobody trades completely without feelings.

    BUTI know I will not learn to exchange with a cool mind until my trading indies a reasonably steady profit. Maybe this is true for most of us.
    To some degree, however, I believe that one can control feelings when trading, before arriving in profit territory.

    Although this post does not really fit from the Trading Journals forum, I like to share my thoughts on trading. Pure trade places will come, but I will include the background thinking behind every transaction.
    In case you don't like it, then please ignore my own thread.

    Peace

  9. #9
    Hi,

    August 13th produced a reversal pub. Therefore I took a long position the day following at 1.4272 with a trailing stop loss starting at the last low at 1.4086. That first position went down the drain in no time whatsoever and I got slapped in the mind at 1.4122, leading to an initial loss of 150 pips.

    When that occurred, since I was clearly wrong about market direction, I placed a stop order to sell at 1.4080 (under the previous low) with a TSL starting at previous high at 1.4327. It got hit, and I'm now in a short position that is currently 65 pips the incorrect way. The TSL is now at 1.4294.




    ReflectionsI'm not certain about how to decide for the proper entry price. Since I've got a daytime job I can't track the 15 minutes chart, as an example. Was considering placing the entry order at exactly in the middle of the change bar. Or something... I'm not sure whether my stops are in line with the current volatility. Have to think more about that. I believe that entering was correct on, given that the market had generated a higher high and a higher low. And of course indied the end of the retracement with the reversal pub. Have to get better at creating charts with descriptive points inside...

  10. #10
    It isn't complied and not extensive. And nothing new. As I said, I have picked the pieces from the forums here at the factory.

    Here's a summary:
    1. Together with the trend.
    8. In case of a reduction , take an opposing commerce.

    Beam
    You do realise that both of these comments are conflicting. If you placed a very long trade because you felt the trend was upwards why on earth would you want to go short straight off only because you chose a loss?

    What you should do is get straight back and see whether your initial trend decision was correct. If it had been the next question is did I choose a reduction? Can I have had my halt in the wrong loion? Did I pick the wrong candle/bar to put in on? Did I jump the gun and exchange on expectation rather than on careful assessment?

    Accepting a reduction is part of this game (as you know). The main problem when beginning is to truly analyse why a transaction went wrong. As soon as you've got a basic idea of the normal kind of error you are making you can at least deal with it.

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