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Thread: Trades of newbie... we know how it started, where will it end?

  1. #1
    Hello everyone,

    If you browse the newbie forum you will remember me as one of the many that lost his account on account of the previous mistakes a lot of us do when coming to exchange FX (along with other markets where your broker gives you access to large leverage). I spent some months in reclusion, thinking of what to do next and testing system following system (being disapointed by nearly all of these ) and trading to a demo account waiting for the time when I would feel confident enough to return with real cash.

    This time seems to have returned a few weeks back. I began trading again with real cash and trying to apply some principles as to prevent astrophe from ocurring again (well, at least the exact same astrophe, if it strikes it will be a new sort of tragedy from where I will find new things I hope). So now I'm taking smaller places risking between 3-5percent per trade and I also trade less frequently and more relaxed than before... trying to not squeeze the trigger on anything that moves.

    On paper trading and backtesting I usually attempted USD/JPY first so I became friends with this pair. For this reason nearly all of my transactions will be with this pair (also for cash management principles, 5 minilots in USD costs me less than the very same lots in EUR that is my very own currency) although I might go ocassionaly to EUR/USD if I see a excellent pattern that I believe increases the odds in my favour.

    In keeping this diary I am hoping that the pressure of placing my transactions live online for everyone to see will make me embarrassed if I ever put the trigger too early thus preventing me from doing dumb things. If anyone has pleasure or learns something out of this, it is going to be even more positive

    My aim is very positive I think, but I feel that if I have to aim, then I might as well aim for the stars. I would like to exchange for a living (quiting my real job) in the next 15 to 20 years. To be able to achieve this I left some math and realized this implies that in this time I have to collect around 250K EUR (get out of debt and have sufficient funds to go trough bad months).

    This translates to an yearly return rate between 17% and 25 percent with additional funding of 1k EUR annually - keep in mind I'm very badly funded in the present time so it's going to be very debilitating but hopefully it will work out.

  2. #2
    Trade #5 2007.12.26
    Shorted EURUSD @ 1.45
    SL @ 1.4530

  3. #3
    Trade #5 Ceased @ 1.4530

    Trade #4 still Available with SL @ 113.67

    Outcomes for the month: -105 pips

  4. #4
    Trade #4 ceased @ 113.67

    Outcomes for the month: -90 pips (-80 in the event that you count the 10 additional pips out of swap on such USD/JPY position)

    Trade #6 2007.12.09
    Short GBP/JPY @ 226.79
    SL @ 227.6
    TP @ 226.1

  5. #5
    What are your money management rules buddy? It seems to me your going for two many pips

  6. #6
    Quote Originally Posted by ;
    what are the cash management rules friend? It seems to me your moving for two many pips
    Hi, sorry I have not been updating this. I had some requests from several men in a different forum I frequent and I only been posting (too much work submitting on both forums )

    I typically risk roughly 4% of my account on every trade but I've made some screwups from time to time. So I guess I will often fix that part of my trading, they generally bite me.

    Here's a whole list of my trades because my comeback:
    Date Pair Short/Long Entry Exit Pips
    #1 11-12-07 USD/JPY CURTO 111,50 111,45 5
    #2 17-12-07 USD/JPY CURTO 113,10 113,40 -30
    #3 19-12-07 USD/JPY CURTO 112,93 113,43 -50
    #4 21-12-07 USD/JPY LONGO 113,52 113,67 15
    #5 26-12-07 EUR/USD CURTO 1,4500 1,4530 -30
    #6 27-12-07 GBP/JPY CURTO 226,79 227,19 -40
    #7 28-12-07 CAD/CHF CURTO 1,1577 1,1528 49
    #8 28-12-07 CAD/CHF CURTO 1,1558 1,1503 55
    #9 31-12-07 USD/JPY CURTO 112,24 112,09 15
    #10 02-01-08 CAD/CHF CURTO 1,1381 1,1445 -64
    #11 02-01-08 CAD/CHF CURTO 1,1394 1,1264 130
    #12 02-01-08 CAD/CHF CURTO 1,1360 1,1315 45
    #13 02-01-08 EUR/USD LONGO 1,4736 1,4695 -41
    #14 03-01-08 USD/JPY CURTO 109,30 109,20 10
    #15 03-01-08 USD/JPY CURTO 108,64 108,29 35
    #16 03-01-08 EUR/USD LONGO 1,4770 1,4740 -30
    #17 03-01-08 USD/JPY CURTO 109,25 109,52 -27
    #18 03-01-08 USD/JPY LONGO 109,71 109,11 -60
    #19 03-01-08 EUR/JPY LONGO 161,31 160,71 -60
    #20 04-01-08 EUR/JPY LONGO 161,08 160,85 -23
    #21 04-01-08 CAD/CHF CURTO 1.1264 1.1120 144
    #22 04-01-08 CAD/CHF CURTO 1,1214 1,1169 45
    #23 04-01-08 CAD/CHF CURTO 1,1090 1,1050 40
    #24 04-01-08 EUR/USD LONGO 1.4795 1.4735 -60
    #25 07-01-08 EUR/USD LONGO 1.4675 1.4725 50

    Can't whine pip-wise (reddish trades were out of fear... I completely screwed them up and didn't follow my trading method) and money wise I'm up because I started but I would be better when I admired MM all the time.

    I consider that I'm on the right path and my account will survive long enough for me personally to become a good trader.

  7. #7
    Nice man....hope it work out nicely remeber the more the reward to risk just have a trade if u stick to get greater than lose. . .this can keep yur account

    all the very best buddy. .let us know how they're getting together...

  8. #8
    This week went better but still some things I do Not Enjoy about my trading... lets see if it keeps Advancing...

    Need to Exchange less I Presume...
    #25 07-01-08 EUR/JPY CURTO 160,00 160,35 -35
    #26 07-01-08 USD/JPY CURTO 109,07 109,64 -57
    #27 08-01-08 USD/JPY CURTO 109,64 109,39 25
    #28 08-01-08 SP500 CURTO 1421,00 1405,00 16
    #29 09-01-08 EUR/JPY CURTO 161,43 160,63 80
    #30 09-01-08 USD/JPY CURTO 109,50 109,90 -40
    #31 09-01-08 USD/JPY LONGO 109,98 109,71 -27
    #32 09-01-08 CAD/CHF CURTO 1,1031 1,0956 75
    #33 09-01-08 CAD/CHF CURTO 1,0985 1,0958 27
    #34 09-01-08 CAD/CHF CURTO 1,0951 1,0920 31
    #35 10-01-08 CAD/CHF CURTO 1,0876 1,0810 66

  9. #9
    Should be noted that from the graph pips are divided by 10... so actual numbers:

    December lost 11 pips and January I am up 245 up to now.

    First goal is complete... my account lasted more than last time

  10. #10
    Focus on winning, I passed for that.
    Blowing account after account.... Then at some stage you left up some egy that works and you stabilize.

    Of course involving every wipe out, think, examine, enter into a deep reflection and mend what has been made wrong.

    Then there is another period, something like stagflation, not win but not shed.
    Subsequently win win win....
    Then stagflation again
    nicely at least tha occurred to me personally.

    And they cycle repeat , the trick is that dont make you reach a boiling point but recognize it as ordinary procedure for developing,

    ultimately that cycle its own broken and you begin going big silver and green smart.

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