Little and Often Makes Much
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Thread: Little and Often Makes Much

  1. #1
    Hi,

    This journal, like others submitted, is here to not just make a record of my transactions, but also to”set everything on the table” for all to watch and make comments on. My trading is based on a doctrine that was discovered in a fortune cookie not to long ago...

    ”Little and often makes ”

    That I have a few benchmarks I'd like to maintain as I trade. Possessing a win percentage of at least 85%. Typical at least 50 pips each week. I'd also like some help, from those of you prepared of course, to help me specify some other benchmarks to further help crystallize my trading a little.

    Max drawdown? Pip won to pip ratio that was lost? Others I'm not tracking yet?

    Here are my results so far... I'm hovering only about 80% win rate... and as I stated, I'd like to improve that to at least 85%. I have had 58 wins averaging 10 pips per trade, and 13 losses averaging 19 pips per trade to get a total profit of 330 pips.

    On a slightly more thorough basis below are the results for the past five weeks...

    Week of: Apr 22 -- 90% Grow, 10 Wins averaging 8 pips, 1 loss for 17, failed to track Max Drawdown
    Week of: Apr 29 -- 93% Grow, 14 Wins averaging 13 pips, 1 loss for 18, failed to track Max Drawdown
    Week of: May 6 -- 83% Grow, 10 Wins averaging 8 pips, 2 losses averaging 25, Max Drawdown of 45
    Week of: May 13 -- 73% Grow, 11 Wins averaging 8 pips, 4 losses averaging 17, Max Drawdown of 65
    Week of: May 20 -- 72% Grow, 13 Wins averaging 10 pips, 5 losses average 19, Max Drawdown of 85

    since you can see the trend has started to sour since that second week and I need to refocus and get back to where I had been to average the 85% win rate I had. I'm still pip confident every week... but something feels awful.

    I will be making every attempt to post every transaction in this journal because they occur (with a chart snapshot) and will upgrade the numbers each weekend.


    I'd also like to thank Spud and TEB for their threads... MAJOR inspiration for the way I transaction and the principal reason I trade using multiple time frames (MTF). Hopefully I will not embarrass both you along with my results !

    ”Little and often makes ” We'll see... J

  2. #2
    Quote Originally Posted by ;
    glad to see that you follow teb/ spud great men, great thoughts....

    Which of the setups are you using?

    Your succes rate seems good dont be to hard on yourself,...

    cheers

    Rye
    Thank you for the vote of confidence Rye! I actually don't use some of their setups precisely... but I've researched both of them fairly extensivly and then utilized the backbone guidelines that I learned to build my own egy. It's real rough at this time, but it is there. Now it is time to refine things somewhat.

    I do use stochs, RSI and EMA's across distinct timeframes to exchange. I'll post an example chart soon with an excuse.

  3. #3
    Now you've got my curiosity...

    Tebs /Spuds threads were my initial'oh yeah' moments and for that I can only be grateful it just made sense

    I,m also a huge fan of fozzy's thread. It's alot of mileage. .

    So curious to see how you get on

    talk soon

    Rye

  4. #4
    That is funny... I will called them Guiness Moments (aka BRILLIANT!)

    I had a ton of these when studying their threads... Fozzy's is on my list too... as is Jacko's, EricFX and countless others!

    As for the charts...

    I use three Chief indiors... Stochs... RSI and EMA's. I utilize these timeframes...

    5m, 15m, 30m, 1H, 2H, 4H, 8H ß Employed with the actual transaction
    Daily, Weekly, Monthly ß These I use just for general trend info

    Here are the technical preferences...

    EMA's... 4, 13 and 50
    RSI -- 14 (with 72 and 28 rather than 70/30)
    Stochs -- Immediately with 5,3,3

    The trick to my achievement is the simple fact that I zoom to the charts to stay focused on what is happening NOW. I allow myself to examine the 2 bars with the pub obviously being the current instant.

    Via TEB Spud I utilize the Stoch's to reveal signs for entry.
    Via TEB I utilize the EMA's to reveal potential”pip space” for every transaction.
    Via Aggietrader J I utilize RSI to give me an idea of just how much fuel that the trend has.

    Here's a screenshot of what I typically stare in. The charts on the best are all connected to the list in the left. As I click on another pair, all the charts alter... keeps it easy to track many pairs.

    Beginning from LEFT to RIGHT the charts are 5m, 15m, 30m, 1H, 2H, 4H, and the 8H.

    This one really shows a nice long setting up for AUD/USD.

  5. #5
    I suppose its like getting used to 70 mph when youve only been driving at 30 mph... somewhat fast for me.... But makes sense. .

    I have to admit I enjoy simple( it matches my brain capacity) I am using a mixture of spud/teb/fozzy however unconciously i.e not defined as is your method.

    I'VE been waiting for a cross on fozzy. . .then getting in on teb lineup of mtf to keep s/l tighter and get a head start.

    What kind of t/p. . S/l are you and how can you define them???

    cheers

    Rye

  6. #6
    Quote Originally Posted by ;
    As I click on a different pair, all of the charts change... keeps it easy to monitor many pairs.
    How would you set up that?

  7. #7
    Quote Originally Posted by ;
    I assume its like getting used to 70 miles when youve just been driving at 30 miles... a bit fast for me.... But makes sense. .

    I have to admit I like easy ( it fits my mind capacity) I am using a combination of spud/teb/fozzy however unconciously i.e not defined as is your method.

    I'VE been waiting for a cross fozzy. . .then getting in up of mtf to maintain s/l tighter and get a head start.

    What Type of t/p. . S/l are you using and how did you define them???

    Cheers

    Rye
    Been taking just a few pips here and there... every once in a while I grab a major move where I end up accepting 20-50 pips. The losses I take just when the stochs turn against me (long term stochs such as 4h and 8h).

    That's part of the reason behind this thread... my trading functions, but it a little to optional... I need to have the ability to nail it down somewhat better.

  8. #8
    Quote Originally Posted by ;
    How would you set up that?
    That's a feature with Accucharts... right click on the price and then connect into the pricedata. Not sure if something similar can be done with MTF or some other.

  9. #9

  10. #10
    Awesmome aggie,

    merely to respone for your first post.
    I'd say maximum drawdown for me personally is 20%. Anything that makes me anxious. One of my mottos is Maintain what you have if you can, and add to it.

    I would also say that a win ratio of 80% is very great. I'd be pleased with 80% if that's a consistent number as opposed to trying for 85% one month and receiving 60% the next. The farther you push the envelope the more risk you open yourself up to.

    Have a great day!

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