Took a relatively small loss in the Forex markets today and four pars in the NQ. Over the weekend I did testing on longer timeframes in the NQ and ES and am now trading charts similar to a 5 minute timeframe. My goal is to try and filter out the noise and get the bigger, stronger moves that will pay me better. This should cut down on comissions significantly, choppy trades, and trying to trade for ticks rather than points.
More in depth explanations available in the video. Its short at 5:51 and recaps the trades of the day and talks about the timeframe change in more detail.
http://www.screencast.com/t/XQI0Pu04h1
Trade Results:
Forex: -21 Pips
NQ: +0.00
Monday, June 15, 2009
Friday, June 12, 2009
+29 pips... or $8.70... wtf?
So I went live today in FX and ran into the reality of margin I hadn't quite planned on. For some reason in my tiny little math confused brain I thought I could come in here with 100.00 and be able to trade 10,000 lot size with 50:1 margin. Durrrrrr no I can't. I can trade 3,000 lot size.
So I traded this morning, took some good entries, all winners and walked out with 29 pips after an hour and half. And on 3,000 lot size that is... 8.70. Saweet! But lets think about this in terms of percent return for a second. After the paypal fees the actual deposit was $97.80. Which means my 8.70 profit was actually a 8.8% return on the account. Not shabby I suppose.
In the future i'll add more funds to it so I can up the size buy for right now I think its probably a really good exercise for me to trade with this small size and see what I can do. No sense adding funds to an account that I can't grow. I need to be able to prove a distinct change in my profitability in both my futures accounts and my Forex account if i'm going to move forward trading.
Have a great weekend guys!
Trade Results:
NQ: +0.00
Forex: +29 Pips
So I traded this morning, took some good entries, all winners and walked out with 29 pips after an hour and half. And on 3,000 lot size that is... 8.70. Saweet! But lets think about this in terms of percent return for a second. After the paypal fees the actual deposit was $97.80. Which means my 8.70 profit was actually a 8.8% return on the account. Not shabby I suppose.
In the future i'll add more funds to it so I can up the size buy for right now I think its probably a really good exercise for me to trade with this small size and see what I can do. No sense adding funds to an account that I can't grow. I need to be able to prove a distinct change in my profitability in both my futures accounts and my Forex account if i'm going to move forward trading.
Have a great weekend guys!
Trade Results:
NQ: +0.00
Forex: +29 Pips
Thursday, June 11, 2009
Up in FX, Down a smidge in NQ
Not a bad day, things were much choppier in the currency markets than yesterday all out directional slam fest. Took some pretty nice losses early in the day but kept with it and made it all back and then some. In fact, I had 4 losses in a row this morning... one winner erased them all. Thats the kind of stats I want to get behind. Ended out the day with +46 pips.
In the NQ it was not a bad day (ended down a point) but I just didn't get fills on 90% of the moves and the ones I did get in didn't really go anywhere and at the end of the day I caught a smaller loser for -1.5.
I am getting much better on the execution of these trades and the analysis. I had to work out kinks the hard way earlier this week with losses to figure out I needed to relax stops, and focus on the good directional moves, but i'm getting things nailed down. Furthermore, the currency markets are proving to be really good practice on the entries, management, and analysis in getting me back on my feet.
4 days of losses isn't anything i'd brag about - but if it was for a purpose and it taught me something its fine by me.
Trade Results:
NQ: -20.00
In the NQ it was not a bad day (ended down a point) but I just didn't get fills on 90% of the moves and the ones I did get in didn't really go anywhere and at the end of the day I caught a smaller loser for -1.5.
I am getting much better on the execution of these trades and the analysis. I had to work out kinks the hard way earlier this week with losses to figure out I needed to relax stops, and focus on the good directional moves, but i'm getting things nailed down. Furthermore, the currency markets are proving to be really good practice on the entries, management, and analysis in getting me back on my feet.
4 days of losses isn't anything i'd brag about - but if it was for a purpose and it taught me something its fine by me.
Trade Results:
NQ: -20.00
Wednesday, June 10, 2009
Quick Update
Got nailed hard in the futures today. A stupid idea to try and limit risk ended up costing more money than it was worth. GIVE YOUR TRADES ROOM TO WORK. Lost enough to limit me to the NQ only for the time being.
In FX land walked away netting +187 pips today. Yup. While on sim, the fills are as real as they can get in forex unlike some futures account simulations. If I could do 1/10th of that each day i'd be stoked. Just waiting on my account verification to start funding.
Video is high resolution (close to 1400 X 700) but relativly short (8:05). Make sure you click the "Full Size" button at the top of the screencast page to view it correctly so it doesn't look janky.
Link deleted due to bandwidth concerns.
Trade Results:
I don't want to talk about it.
In FX land walked away netting +187 pips today. Yup. While on sim, the fills are as real as they can get in forex unlike some futures account simulations. If I could do 1/10th of that each day i'd be stoked. Just waiting on my account verification to start funding.
Video is high resolution (close to 1400 X 700) but relativly short (8:05). Make sure you click the "Full Size" button at the top of the screencast page to view it correctly so it doesn't look janky.
Link deleted due to bandwidth concerns.
Trade Results:
I don't want to talk about it.
Tuesday, June 9, 2009
Papa Got Camtasia
I finally got Camtasia studio so I can finally embed videos and share them with you. The video is 21 minutes long. I know. I'm not that interesting.
First couple minutes are a daily recap of the action and signals, the opening of a new Forex account and then I delve into my new "discovery".
Probably the most "DUHHHHHHH" discovery I could ever share with you all. But its enough to get me back into the signals and methodology I was using at the beginning of the year.
You get a e-high five if you actually making it through the entire video without punching your screen or thinking "why won't this douchebag stop talking?"
P.S. I promise my other video updates (baring break throughs) won't be nearly as long. It took damn near a half hour for this video to render on my laptop!
Link deleted due to bandwidth concerns.
Cheers folks!
Trade Results:
ES: -62.50
NQ: +0.00
First couple minutes are a daily recap of the action and signals, the opening of a new Forex account and then I delve into my new "discovery".
Probably the most "DUHHHHHHH" discovery I could ever share with you all. But its enough to get me back into the signals and methodology I was using at the beginning of the year.
You get a e-high five if you actually making it through the entire video without punching your screen or thinking "why won't this douchebag stop talking?"
P.S. I promise my other video updates (baring break throughs) won't be nearly as long. It took damn near a half hour for this video to render on my laptop!
Link deleted due to bandwidth concerns.
Cheers folks!
Trade Results:
ES: -62.50
NQ: +0.00
Monday, June 8, 2009
Day 1
Another video update and explanation of trades taken today.
Link deleted due to bandwidth concerns.
Trade Results:
ES: +0.00
NQ: -80.00
Link deleted due to bandwidth concerns.
Trade Results:
ES: +0.00
NQ: -80.00
Wednesday, June 3, 2009
Video Update + My New Method Explained
I decided to do videos tonight for the first time. I finally got my mic working and thought i'd give ole Jing a try again and get some videos explaining updates on this blog, my deadlines, profitability, etc as well as my new found discovery which i'm trading from here on out.
This came out of the blue, it goes against everything i've ever looked at or tried but I like it, its consistent, it works and its going to be my winning method from here on out. Oh yea, and i'm going to share it with you all.
I recently started reading this blog http://www.fourhourworkweek.com/blog/. I highly recommend checking it out. Its from author Tim Ferriss of the "4 Hour Work Week" and while some of the blog is focused on business, marketing, traveling, random pen tricks, it was just a really good place I stumbled onto when I was depressed after having a losing streak on monday prior to this discovery. Reading a few of his posts on mental performance, stories of overcoming opposition and making the biggest discoveries in the 11th hour really got me back into it.
I may fail at this profession this time around - but i'm going to give it hell for the next two weeks and either rebound or go out with a bang. I've got nothing to lose and everything to gain. Stay tuned.
Part 1: Update on blog, my deadline.
http://screencast.com/t/VXAYRnTU
Part 2: The new discovery - Intraswing S/R.
http://screencast.com/t/AlGRsnvfRq3
Part 3: More examples.
http://screencast.com/t/z0DKYdZleA
Please give me feedback on this methodology!!!
This came out of the blue, it goes against everything i've ever looked at or tried but I like it, its consistent, it works and its going to be my winning method from here on out. Oh yea, and i'm going to share it with you all.
I recently started reading this blog http://www.fourhourworkweek.com/blog/. I highly recommend checking it out. Its from author Tim Ferriss of the "4 Hour Work Week" and while some of the blog is focused on business, marketing, traveling, random pen tricks, it was just a really good place I stumbled onto when I was depressed after having a losing streak on monday prior to this discovery. Reading a few of his posts on mental performance, stories of overcoming opposition and making the biggest discoveries in the 11th hour really got me back into it.
I may fail at this profession this time around - but i'm going to give it hell for the next two weeks and either rebound or go out with a bang. I've got nothing to lose and everything to gain. Stay tuned.
Part 1: Update on blog, my deadline.
http://screencast.com/t/VXAYRnTU
Part 2: The new discovery - Intraswing S/R.
http://screencast.com/t/AlGRsnvfRq3
Part 3: More examples.
http://screencast.com/t/z0DKYdZleA
Please give me feedback on this methodology!!!
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