So this is a demo trade only? If so it seems kinda misleading when you talk about performance/earnings using whatever model/indicators, given that you haven't actually made any money.
A Forex Trader's Journal
- Thread starter sKaLpZ
- Start date
"seems kinda misleading"?
well, seeings that all the numbers, gains, performance ARE very real since all trades are opened/closed using live, real-time, global currency quotes with no delay, albeit the money is virtual, only someone who counts the trading model being used here - set at 20:1 by the 'factory' - as 100% non-existent would come to that conclusion.
If you think otherwise, then please do open up a currency trading account... ANY account... demo or live, and duplicate these same results.
Even these.
Can you do that? Live or demo?
ONCE you do (if you can)... you may not think the same way about this trade.
As you can see, folks, my mention of "hedge fund" has some hedge fund managers (who don't do so well) in a bit of a tizzy seeings that the average gain for ALL "professionally-managed" and commercial hedge funds for the entire 2005 year was less than what is being produced in this trade.
*yawn*
Thanks for the comments, Stealthscraper.
sKaLpZ
ps: It should be noted again for the record, as I've stated a number of places in this thread, that the trading structures being used in this trade are some of the actual ones I use in my Live forex trading account. So, they are being traded in a live market environment.
- s
well, seeings that all the numbers, gains, performance ARE very real since all trades are opened/closed using live, real-time, global currency quotes with no delay, albeit the money is virtual, only someone who counts the trading model being used here - set at 20:1 by the 'factory' - as 100% non-existent would come to that conclusion.
If you think otherwise, then please do open up a currency trading account... ANY account... demo or live, and duplicate these same results.
Even these.
Can you do that? Live or demo?
ONCE you do (if you can)... you may not think the same way about this trade.
As you can see, folks, my mention of "hedge fund" has some hedge fund managers (who don't do so well) in a bit of a tizzy seeings that the average gain for ALL "professionally-managed" and commercial hedge funds for the entire 2005 year was less than what is being produced in this trade.
*yawn*
Thanks for the comments, Stealthscraper.
sKaLpZ
ps: It should be noted again for the record, as I've stated a number of places in this thread, that the trading structures being used in this trade are some of the actual ones I use in my Live forex trading account. So, they are being traded in a live market environment.
- s
Ya see, Stealthscraper, here's the thing.
"Traders," or those who fancy themselves as such, when they look at their Live trading platform and see their Account Balance, the only thing they see is a digital number (1 thru 9) followed by some zeros.
Money is money. That is market Law.
Money represents money.
It's not like you're going to pull $5 out of your pocket then say to yourself, "Oh, THAT'S money!!" But then look at your trading account and say, "Oh, but THAT... is THAT money, too???"
There's not a single person in this WORLD who I do NOT advice to trade on a forex DEMO account before they ever trade a Live account.
There's not a single person in this WORLD who I do NOT advice to CONTINUE trading on a currency trading demo account ongoing AFTER they open and are trading a Live account.
I've been trading forex (both live and demo accounts) for 18,000-hours (apart from sleeping, seeings that fx trades 24-hours a day - the 'market' never closes).
I run ALL my tests and trading system experiments on Demo accounts FIRST before they are EVER brought into a live trading environment for continuing progression.
If trades cannot or do not work in a virtual trade setting, they sure will not work in a Live trading environment.
This is what people who are new to currency trading should understand.
'Live' money does NOT produce good (live) results just because it is sitting on a live trading platform represented by numbers in your Account Balance.
Your out-of-pocket Cash, and its currency counterpart resemblence or symbol in your trading platform Account Balance, are the same.
I say, folks, produce good results first with none of your own real Cash at stake.
After you can do that feat, then think about opening a Live trading account.
What I've demonstrated in this thread is based on this: There are Live and Demo accounts. But the Money and what you can (and cannot) do with it is all Real in significance.
As long as you are trading Live, Real-time, non-delayed currency quotes, the results are the same.
IF someone who fancies him/herself a 'trader' is still freaking out emotionally after they put on a trade, their trading SYSTEM or structure is not where it needs to be for them to trade well on a Demo OR Live account.
Good and sensible trading habits are what you need to be trying to develop. Those that when applied can and do produce good and consistent results in both Live and Demo trading accounts ongoing and in all market environments.
If they don't, then your out-of-pocket Cash that you make live forex trades with will end up in my pocket.
Coinz
"Traders," or those who fancy themselves as such, when they look at their Live trading platform and see their Account Balance, the only thing they see is a digital number (1 thru 9) followed by some zeros.
Money is money. That is market Law.
Money represents money.
It's not like you're going to pull $5 out of your pocket then say to yourself, "Oh, THAT'S money!!" But then look at your trading account and say, "Oh, but THAT... is THAT money, too???"
There's not a single person in this WORLD who I do NOT advice to trade on a forex DEMO account before they ever trade a Live account.
There's not a single person in this WORLD who I do NOT advice to CONTINUE trading on a currency trading demo account ongoing AFTER they open and are trading a Live account.
I've been trading forex (both live and demo accounts) for 18,000-hours (apart from sleeping, seeings that fx trades 24-hours a day - the 'market' never closes).
I run ALL my tests and trading system experiments on Demo accounts FIRST before they are EVER brought into a live trading environment for continuing progression.
If trades cannot or do not work in a virtual trade setting, they sure will not work in a Live trading environment.
This is what people who are new to currency trading should understand.
'Live' money does NOT produce good (live) results just because it is sitting on a live trading platform represented by numbers in your Account Balance.
Your out-of-pocket Cash, and its currency counterpart resemblence or symbol in your trading platform Account Balance, are the same.
I say, folks, produce good results first with none of your own real Cash at stake.
After you can do that feat, then think about opening a Live trading account.
What I've demonstrated in this thread is based on this: There are Live and Demo accounts. But the Money and what you can (and cannot) do with it is all Real in significance.
As long as you are trading Live, Real-time, non-delayed currency quotes, the results are the same.
IF someone who fancies him/herself a 'trader' is still freaking out emotionally after they put on a trade, their trading SYSTEM or structure is not where it needs to be for them to trade well on a Demo OR Live account.
Good and sensible trading habits are what you need to be trying to develop. Those that when applied can and do produce good and consistent results in both Live and Demo trading accounts ongoing and in all market environments.
If they don't, then your out-of-pocket Cash that you make live forex trades with will end up in my pocket.
Coinz
thought I'd figure rough stats on the trade. this is what I pulled up:
Around 5.25-pips profit gained per day for 8-months - based on 30-days a month. Average pip value is $1.72 each.
Like I indicate, this is very rough figuring and not exact. Just a side note for anyone interested.
Coinz
Around 5.25-pips profit gained per day for 8-months - based on 30-days a month. Average pip value is $1.72 each.
Like I indicate, this is very rough figuring and not exact. Just a side note for anyone interested.
Coinz
OK, I'm thru messing around. Things finally fell into place enough to warrant putting on a heavier trade - boost those profits!
For my detractors: A very similar structure is being opened on the same pair in my Live account. Never fear, if this trade makes money, I'll be making coinz in my Live trading account as well. Same with the situation should I lose money here.
The new (heavier) position I just opened is USD/JPY long (a buy direction wherein I am selling JPY).
Here's the snapshot just taken.
<img src=http://elitetrader.com/vb/attachment.php?s=&postid=973489>
You'll notice the trade (position) just opened is two 25,000-unit bangers USD/JPY culminating with the other two 7,500-unit trades that were formally sitting 280-pts in drawdown.
Now the average price of the complete USD/JPY is only 66-pips in drawdown, meaning should USD/JPY retrace 66-points (up) I will be even - at that point I can close that trade (and begin again) or let her climb - taking profit later.
(for the technical junkies): Margin Used increased to $7265.50.
As soon as I close the EUR/USD trade, I may pour it on those unit amounts too for the next EUR/USD short trade - beginning a structure of increased profiting - increasing risk as well.
For the record: My overall goal here is to top 200% increase at the end of 24-months.
That may not be able to be done because I would possibly need to bring in trading structures too close to ones I use in my Live trading account, and I just don't give away my systems.
sKaLpZ
For my detractors: A very similar structure is being opened on the same pair in my Live account. Never fear, if this trade makes money, I'll be making coinz in my Live trading account as well. Same with the situation should I lose money here.
The new (heavier) position I just opened is USD/JPY long (a buy direction wherein I am selling JPY).
Here's the snapshot just taken.
<img src=http://elitetrader.com/vb/attachment.php?s=&postid=973489>
You'll notice the trade (position) just opened is two 25,000-unit bangers USD/JPY culminating with the other two 7,500-unit trades that were formally sitting 280-pts in drawdown.
Now the average price of the complete USD/JPY is only 66-pips in drawdown, meaning should USD/JPY retrace 66-points (up) I will be even - at that point I can close that trade (and begin again) or let her climb - taking profit later.
(for the technical junkies): Margin Used increased to $7265.50.
As soon as I close the EUR/USD trade, I may pour it on those unit amounts too for the next EUR/USD short trade - beginning a structure of increased profiting - increasing risk as well.
For the record: My overall goal here is to top 200% increase at the end of 24-months.
That may not be able to be done because I would possibly need to bring in trading structures too close to ones I use in my Live trading account, and I just don't give away my systems.
sKaLpZ
Note to investors: I don't have a hedge fund (I'm a private trader at this point) (if I did have a hedge fund I could not be running these trades openly like I am doing here) so you're out of luck but I do know the forex and currency trading well enough to say this:
If you're thinking about investing some of your money with a hedge fund manager who trades global currencies make sure you locate one who is a master of his domain in a thing called carry trades.
Basically there's two opposite ways of trading forex: One where a trader opens a single trade then closes it based on gains or losses. Then begins again with a new trade.
The second form is where a trader opens a trades... then let's her ride the winds of the world (currency rate fluctuation-wise).
A master fx trader should be proficient at understanding why and when to open and close trades set in a carry trade structure.
Another thing: Don't keep pulling your money out of a hedge fund(s) (such as the one I just described) at every downturn of the market against your money manager.
By doing so, you're actually making yourself the market trader thru your hedge fund manager.
Doing that is stupid, I'll tell ya that right now.
So when you think you've got enough balls to commit some of your cash to a hedge fund manager leave it with him or her for a period of at least 2-years.
This is the hottest thing going right now and those who keep pulling their money out (redemption) and / or switching fund after fund are just plain dumb.
Ya gotta get your meat close to the fire if you want it cooked, ya know what I mean?
So, it is better to NOT invest with a hedge fund manager while you do your homework of identifying the right person to trade your money in the markets for you, than to play the nervous jerk with a competent hedge fund manager who is highly trained to make profits in volatile markets.
And, "volatility" implies the market going against your position at times.
Good luck,
theskalper
If you're thinking about investing some of your money with a hedge fund manager who trades global currencies make sure you locate one who is a master of his domain in a thing called carry trades.
Basically there's two opposite ways of trading forex: One where a trader opens a single trade then closes it based on gains or losses. Then begins again with a new trade.
The second form is where a trader opens a trades... then let's her ride the winds of the world (currency rate fluctuation-wise).
A master fx trader should be proficient at understanding why and when to open and close trades set in a carry trade structure.
Another thing: Don't keep pulling your money out of a hedge fund(s) (such as the one I just described) at every downturn of the market against your money manager.
By doing so, you're actually making yourself the market trader thru your hedge fund manager.
Doing that is stupid, I'll tell ya that right now.
So when you think you've got enough balls to commit some of your cash to a hedge fund manager leave it with him or her for a period of at least 2-years.
This is the hottest thing going right now and those who keep pulling their money out (redemption) and / or switching fund after fund are just plain dumb.
Ya gotta get your meat close to the fire if you want it cooked, ya know what I mean?
So, it is better to NOT invest with a hedge fund manager while you do your homework of identifying the right person to trade your money in the markets for you, than to play the nervous jerk with a competent hedge fund manager who is highly trained to make profits in volatile markets.
And, "volatility" implies the market going against your position at times.
Good luck,
theskalper
sKaLpZ wanted this posted ;-)
For those interested...
This acct has sat pretty much dormant since 02-05-06 when the last update was posted.
Interest was drawn for over 4 months, but no trading was done.
A couple trades were made in the last 24-hours:
NZD/USD was closed (in profit) and tossed. GBP/JPY was also closed in profit, and re-entered.
Balance has gone up to $15,983 ($100k is the base) from $10,662.09 - an increase of over $5300.
With drawdown, the net profit stacked in has been almost $3,000.
Margin Used at this time is less ($6902.82).
Trade is still extremely stable and low risk, and was started 5-24-05.
Time duration was two-years from the start.
If trade was closed right now it netted almost 12% in about 13/mos.
DrawDown
<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1128994>
For those interested...
This acct has sat pretty much dormant since 02-05-06 when the last update was posted.
Interest was drawn for over 4 months, but no trading was done.
A couple trades were made in the last 24-hours:
NZD/USD was closed (in profit) and tossed. GBP/JPY was also closed in profit, and re-entered.
Balance has gone up to $15,983 ($100k is the base) from $10,662.09 - an increase of over $5300.
With drawdown, the net profit stacked in has been almost $3,000.
Margin Used at this time is less ($6902.82).
Trade is still extremely stable and low risk, and was started 5-24-05.
Time duration was two-years from the start.
If trade was closed right now it netted almost 12% in about 13/mos.
DrawDown
<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1128994>
A key component about this trade, started 05-24-05, is its Margin Used (MU) factor.
You'll notice that all gains were attained using no more than $7,300 (peak) exposed to market (to margin), beginning with under $5,000.
A few more trades were made today, reducing MU even further to its current level of $6149.81 from $6903.75.
$16,443.65 (over 16%) was gained on this low MU number in less than 14 full months.
Net current profit sitting at $12,684.12.
Wanted to point this out for those thinking that a lot has to be risked in order to obtain good, stable, solid returns trading currencies. It ain't so.
This trade has another 10-months to go in its 2-year time frame.
You may also want to note the Margin Call number at $3074.23 - nonexistent.
And, the low drawdown of $3759.54 - doesn't even register.
DrawDown, the god of ForEx
<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1131338>
You'll notice that all gains were attained using no more than $7,300 (peak) exposed to market (to margin), beginning with under $5,000.
A few more trades were made today, reducing MU even further to its current level of $6149.81 from $6903.75.
$16,443.65 (over 16%) was gained on this low MU number in less than 14 full months.
Net current profit sitting at $12,684.12.
Wanted to point this out for those thinking that a lot has to be risked in order to obtain good, stable, solid returns trading currencies. It ain't so.
This trade has another 10-months to go in its 2-year time frame.
You may also want to note the Margin Call number at $3074.23 - nonexistent.
And, the low drawdown of $3759.54 - doesn't even register.
DrawDown, the god of ForEx
<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1131338>