Baggerlords Journal

baggerlord · Aug 23, 2003

Quote from porgie:

Isn't this a lonesome business? I truly hope you have a great future in this business...I have tried and failed, with minimal loss. I am ready to go realtime again with real dollars again...Last year was premature entry into market ...

I have a 2 entry system that is proving realtime to work to my satisfaction. 1 catches only the stronger moves, and the other is a reversal strategy...

Today, I think you know which one worked best. Emotion is not a factor simply because I have about 3500 hours of analyzing my 400 daily charts which eventually led to these 2 strategies...10 min charts...1,2,3 trades a day....Good for nerves...I won't say how I know the dead charts talk, but trust me, they do. MA's are part of the equation. Bar charts, candlesticks, line charts, dot-on-close..All the same..Find what works often and tinker with it until it works more and more often. Change the indicators, time frames, etc. Compare the changes and the consistencies..I have finally found what I didn't think was possible..Time will tell if it holds its accuracy..400 daily charts say it will.

Have a Wonderful Weekend

Porgie sounds like you are in the same boat as me. Good luck!

A side note, I have taken another job, one that won't interfere with either trading or skiing. Now between the two I will be able to add $500 give or take to my trading account a month. Will be a workhorse though....That is OK. Work is good for the soul. Guess what the job is? Bagger.

Now I truly am the Bagger Lord!

baggerlord · Aug 24, 2003

I am curious about Forex so I opened a $50 account with Oanda. I shorted GBP/USD and shorted EUR/USD on Friday. Trying to ride big trends, which I have heard is the way to go. Nobody get their panties in a knot over me trying something else new, I'm just playing with $50.

lundy · Aug 24, 2003

Quote from nkhoi:

I am still waiting for sabena to beat william's record. Lundy to predict next day move in advance, FPS to post some charts so, yes...I will wait for your announcement, best.

I gave up predicting the markets, best thing that ever happened to me in trading.

nkhoi · Aug 24, 2003

Quote from lundy:

I gave up predicting the markets, best thing that ever happened to me in trading.

do we get to see lundy, the come back kid or what

baggerlord · Aug 25, 2003

Covered my FOREX shorts, decided I might be chasing them. Made 3.40 on the trade, or 6% or so. LOL. Just shorted AUD/JPY, as it looks like it is set to break to the downside.

baggerlord · Aug 25, 2003

Well it has been an interesting ride. 2k to 4k, 4k to 1k, and now 1k to 2k, right back where I started, all in under 2 months. I've accepted that I don't have the funds to trade the way I want to trade. Any losing streak and I am gone. So I am saving my dough for now, trading my $50(now $65) forex account, and studying/papertrading. If I want to build up my trading level I will do it in forex, because I can do it there in reasonable increments. I won't get back into the minis until I have 5k, and then I will open an IB account. I ruled out swingtrading stocks because I don't want to be handicapped by the PDT rule. So Forex it is for now, until I have 5k. This journal just morphed into a forex journal.

ptt · Aug 25, 2003

no discipline = short trading career

get a plan and stick to it

baggerlord · Aug 25, 2003

Quote from ptt:

no discipline = short trading career

get a plan and stick to it

I've been actively trading for a few months. My original plan was to daytrade options. Should I have stuck with that? I learn, and plans change. I'm certainly not risking my whole basket on my newest venture. I don't have the funds for minis, plain and simple. Forex is my only real option that provides me with the leverage I need to do anything worthwhile with my limited capital. I like Forex, nice and laid back, and hours that suit me better than US markets. I can scale in and out of positions with my miniscule account, and this makes a huge difference psychologically. There is no such thing as taking partial profits trading the minis with a 2k account. I can do that with my $50 account($72 now) in Forex. Thanks for your concern though.

pvTrader · Aug 26, 2003

Baggerlord, I'm interested to read your new adventures with Forex. A few questions:
1) What timeframes do you look at, and what time frame do you enter trades from?
2) How often do you check your positions and adjust stops?
3) How much do you risk per trade on your $50 account?

I like the small account idea with Oanda. Please post charts of your trades when you get some time.

baggerlord · Aug 27, 2003

Quote from pvTrader:

Baggerlord, I'm interested to read your new adventures with Forex. A few questions:
1) What timeframes do you look at, and what time frame do you enter trades from?
2) How often do you check your positions and adjust stops?
3) How much do you risk per trade on your $50 account?

I like the small account idea with Oanda. Please post charts of your trades when you get some time.

Howdy, I am liking the Forex very much. My $50 has morphed into $117.

The style of Forex suits me very well, nice slow trends with predictable breakouts. I trade off a 3 hour and daily chart, with a 30 min for entries. No indicators, MA's, anything. Just price. I check back every three hours if I can, but I don't stress it too much. I am risking 5-10% of my account per trade, depending on my confidence in the setup. I know those are big numbers, but not on a $100 account! One thing that has really helped me is taking partial profites. I will take small profits at every 5 pip increment, so that if the trade should turn against me I will still make money in most cases. Try forex, start small, and have fun!