Day Trading - Can I Make 10% a Month
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Thread: Day Trading - Can I Make 10% a Month

  1. #1
    Hi All,

    This diary is just a place for me to record my trades, thoughts and feelings as I embark upon my own trading journey.

    That I will be using is Divergence's Flag Trading system loed here -

    it's the first thread I have come across on day trading that actually makes sense to me. It's based largely on price action but uses a few indiors to help confirm an entrance or get you out in some scenarios.

    I have back tested it on data from the beginning of the year and have the following results with the EU.

    78 transactions
    68 wins
    10 loss
    1 trade a day typical
    22 trades per month average
    87 strike rate

    So as you can see it's promise. Now the key will be for me to trade it live and find out whether I could get similar results.

    A few things to note, the results above are based on trading Asia and New York as described by the system founder but these aren't necessarily going to be my final session choices. I am based in Europe so will look to test this on the London Sessions as well as testing other currency pairs (GU and EJ).

    About the name why I have put 10 percent per month is that's my goal initially, if I could do that consistently although not risking to much I will up my risk percentage. Additionally 10 percent each month is what I have calculated as being a necessary return to allow me give up my day job completely and trade full time based on the starting bank I am willing to risk when I loe consistency.

    OK so if all of the house keeping is over with I will end this first post by saying I welcome comments and contribution, although in the event that you want system particulars I will declare now that I am not the specialist and you should consult Divergence and a number of the other senior members around the above mentioned thread.

    Thanks for reading and happy trading.

  2. #2
    Today was another fantastic day. However I got to learn how to strap a pair!

    As with the London session provided me with all the relatively painless profit whilst the US sessions I tried to take among the 123 installations only to exit early for BE and then a few candles later watching the entire position go on hit my profit target. Amazing is not it how you can repeat the same mistake two days in a row, and I'd imagine I shall repeat it again and again as I progress through my journey.

    Anyway I can see in the trades I have taken up to now that sticking together until my profit target or stop is hit will be my biggest obstacle. Don't get me wrong most of the trades I shut early did then go against me for a brief time period and likely would have hit my stop had I transferred it to BE, but the important thing is that they all would have gone to hit my full profit target.

    Therefore my fictitious results could have been 4 trades 4 wins if I had stuck to the rules and just hung in there. I remove the 1 trade because I wouldn't have taken it in the first place if I had read the charts correctly. The main reason I have put my fictitious results is I think that it may be a fantastic contrast to appear back in months to come to have the ability to observe how my mental condition is impacting my trading decisions.

    Should I Stuck to The Rules Trading Summary

    Total Assets to Date: 4
    Wins: 4
    Partial Grow: 0
    Break-even: 0
    Loss: 0

    Trading Overview

    Total Trades to Date: 5
    Wins: two
    Partial Grow: 1
    Break-even: 2
    Loss: 0

  3. #3
    Welcome to the reality of trading vrs backtesting. Whilst I advise backtesting as instrument to validate systems, it's useless if you do not trade that manner when moving live. In backtesting you'll always hit on your profit target or stop since you just click on the screen and the data appears.

    In live trading you have to deal with the pips going around, and then comes emotions that you appear to haven't yet conquered as you are closing trades first, yet telling yourself that the ficticious results it had been 4 winners. Which brings me to my purpose.

    Don't rate a system on it's win/loss%, that is completely irrellevant without your risk:benefit to provide you with your own expectancy. If traders understood this at the start of the journey, I am sure that many years of schooling would be reduced.

    Good luck with your journal.

  4. #4
    I completely agree with you. I am simply maintaining the two different sets of stats hopefully it will show me exactly what the difference would be if I'd stuck to the rules in contrast to my actual outcomes.

    Additionally my r:r is usually 1:1, so anything that goes in my win column is 1:1 or better. That's why I included the partial win column to indie those transactions that I exited early and to get less than 1:1.

    I hope that makes sense.

    Thanks for your wishes

  5. #5
    Stop by just to wish you great luck.
    Hope everything keeps going and things have been so much better.


  6. #6
    OK so that limits another fantastic day and a fantastic week for me. I was battling with my demons and on one trade exited a little to early!

    I started by taking an EU long trade on a combination of the 123 and flag trade. That went to the money but came back and took me outside at BE, I believe that was the ideal decision for this trade as it afterwards continue its move down and could have struck my stop anyhow.

    Then I tried my luck with another 123 that again went to the money slightly but came back providing me with a set up and activate for the short. I was just half invested in the 123 as I really don't have that much confidence in them yet, so I left the long on whilst at precisely the exact same time carrying a complete position on the short. That trade continue down, shot me out of the 123 and hit my target and then some on the short.

    At precisely the exact same time as this I entered a lengthy EU trade which initially went to the money but came to over 0.5 pips from my stop just to rally back up in a matter of moments to provide me with a chance to take profits. The price stalled about half way onto my true TP and I got out for half my TP only to see the price a few bars afterwards continue on to hit my full target.

    Thus all in all a fantastic week, I am up about the week but I might be doing better when I gave my transactions room to breath.

    Next week I'll look to work on my patience issues and hold out for my full profit target. Again if anyone has some ideas on how to remedy this please let me know:--RRB-

    If I Stuck into The Rules Trading Summary

    Total exemptions to Date: 8
    Wins: 6
    Partial Grow: 0
    Break-even: 1
    Weight Loss: 1
    Loss: 0

    Trading Summary

    Entire exemptions to Date: 9
    Wins: 3
    Partial Grow: 2
    Break-even: 3
    Weight Loss: 1
    Loss: 0

  7. #7
    Fantastic luck, we're both in the exact same boat brutha
    I've been doing real well with using Div's method, I use the basic principals of his machine and then made some slight modifiions that function for me.

  8. #8
    I have begun with flag trading too and it's the first easy and profitable system I have observed. Wish You good fortune.

  9. #9
    Just wanted to say all of the very best for your journey. It is a fantastic system - only keep patience and discipline, do not revenge trade and 10% a month is easily acheivable (imho).


  10. #10
    Thank you everyone for your wishes!

    So far my back studying and live trading is telling me this system is really solid.

    I hope moving forward this continues to perform:--RRB-

    I would want to hear from anyone that's been trading this for more than I have, to determine how our results compare.

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