smallballs 2012 Live Trade Journal w/ Trade Explorer

[Angie]

I lived in Port Townsend for a spell after high school. I loved the rain forest, however I hated the gloominess of winter for this region. I will take sunshine and a bit of chill over that anyday. I really don't do anything with TF's that low, therefore I will not add much comment, but I wish you the best of luck.

Good luck!

Dust

[basamo]

OK, 2 losers and 2 small winners this morning and , yes the losers were bigger than the winners....yuck

Thus, the harm was held in check with my money management program.

This is how I'm approaching MM:

The concept is to raise position size since I gain equity and reduce size during a losing time. I specify a max loss for the week and employ a egy to keep from getting knocked out in the early part of the week.

1. I specify a max% loss for the week...6 percent ( beginning of 500.00 X 6% = 30.00)

2. Divide the loss amt. By 50 pips (I wish to keep a 50 pip pillow between me and the end of my trading week)

3. As I close trades in any semester, I recalculate the space between my current equity along with my original loss threshold for the week and split that new $amount by 50 pips ( if my latest transaction is a winner, my size rises,
and the reverse if the transaction was a loser)

This morning I had a loss of $9.00 following 3 transactions, so I reduced my size down from 6000 units lt;60 cents/pipgt; into 4200 units lt;42 cents/pipgt; to match my new max dollar loss for the week (21.00) to 50 pips of distance

My next trade was a little winner which raised my weight reduction space to 23.00
which afforded a new position size of 4600 units.

4600 units ( 46 cents/pip) will be the size of my next trade

I hope that was clear.

[basamo]

Alright, Just had my final trade of the afternoon

8 pips.... Improved my loss threshold to 27.00/ 50 pips = 5400 components

My following commerce will have a 5400 unit position size or 54 cents/pip

See article #3 to excuse

[jmoi]

Very good luck on your transactions! I'm the west coast as well. I enjoy your money management.

[basamo]

Thanks guys!

[basamo]

Before I discuss my entry standards, I wish to emphasize the reality that I think plogy and cash management are more important----- probably much more significant than entry criteria. That having been said, this really is the entry criteria that I am using.

Here's a link to a movie I made on my entry criteria





Allow Me to know if you have some queries.

[basamo]

I basically went on a binge of undisciplined trading this morning

Rats

OK, back to the wagon for the next session

[JCMZN]

Hey Small how's the trading going? The youtube vid isn't functioning for some reason. I always enjoy learning other people systems.

Wishing you all the best
johnn2pips

[albempkXi]

Hi small,

I see you havent posted in a while. Let me help you out. Seriously. You must be losing your arse,because unless you are becoming under 1 point spreads that is impossible almost in the USA, you can't win on 5 min or lower charts. The home will get all of your money. And #2, all of the games and manipulation are guided first at guys like you to prevent out you and steal your cash. If I may be so bold as to suggest moving to 60 min time frames at minimum, you will enjoy much better achievement no matter what your system. Look at it this way, its just like being an overall and having a much better perspective of the battlefield. Think of General Patton because great movie with George C. Scott.

I personally am involved today with Fibonacci clusters and Harmonic trading. Let me know what system you are using and maybe we can work together on something. You are right. . .trading is such a glorious game. Dont let it destroy your life,though. In fact,if you give me a PM, then I will inform you the personal system of cash mgmt a professional trader told me allows him to conduct a finance without any worries. I dont guarantee it but its about the best cash management I have observed.

[basamo]

Greetings to allthis is my thread ,

that I will begin this diary with these aims:

1. Socialize with some like minded people around the bolts and nuts of trading success.

2. Conduct my trading company operations in a transparent manner.

3. Contribute and get benefit from the community of traders.

Here is a little about me:
My family and I live in the Pacific Northwest region of the USA

I began trading fx at the summer of 2009... it's been a harrowing journey.

I truly love trading and'm convinced it is the very best business opportunity . To this point, I have lost more than I have made. I think it is time. I have spent approximately 6-7000 hours over the last 2Â 1/2 years reading, studying, charting, trading and losing cash.

All that said, I think I finally have my trading priorities in the ideal order and'm encouraged about the future. PLAN, MINDSET, MONEY-MANAGEMENT, TRANSPARENCY and SYSTEM ( in order of significance )

I'll be day trading at the London and U.S. sessions ( mostly US--I live on the west shore )

My system is very simple-- 5 and 1 min. Charts, a couple of moving averages, ichimoku cloud, and a ma_angle indi.

Here is a pic. Of my chart opinion



I'll share more on the methodology as we proceed along