Daytrading Currencies

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you need to get your commission rate down, that is your first problem. you should be paying .25-.35 over exchange cost max. per 100k so i will do it in CME currencies 1.85-1.95 a side per 100k, go over your records and see what your profit would have been with that commission rate
 
Quote from max1950:

you need to get your commission rate down, that is your first problem. you should be paying .25-.35 over exchange cost max. per 100k so i will do it in CME currencies 1.85-1.95 a side per 100k, go over your records and see what your profit would have been with that commission rate
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1 post Guru with a brilliant answer.

Vendor power on forum.
 
Quote from 1a2b3cppp:

Can you quantify why you're strategy isn't working as you had hoped?
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He is trying bottom fishing , the entries are against resistance , where he is buying the risk reward ratio is small.There are professional traders selling just above where he is buying.They are trading resistance shorts against his buys , and price action shorts The price has been rejected above his buying level , there is no demand above where he is buying.

Searching for reversal profits is statistically unprofitable , unless a full reversal has taken place and new trend established.

http://www.elitetrader.com/vb/showthread.php?threadid=220746
 
I can't post Account overview, waiting for IB to get their act together..
July 20th statement doesn't show the trades executed on that day...

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Quote from 1a2b3cppp:

Can you quantify why you're strategy isn't working as you had hoped?
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Most of the trades taken since inception of Journal were not related to core strategy...
Core strategy gives infrequent signals (days w/out signals) which drives me to engage in a type of trading that would be best described as "Eyeballing the chart - Shooting from the hip - Flying by the seat of my pants"...
It works fine most of the time but the lack of structure makes it open to all kind of excesses and to the occasional and maybe(but maybe not) inevitable "downward spiral of madness"..

I repeat: Friday's loss was NOT due to the Core strategy not working.


Core strategy is a fading strategy well suited for the choppy European sessions which is when i'm supposed to trade it..

Positives: extremely high win rate: 100% between April02 and July20 yes, 100% win rate..

Negatives:
1- Risk/reward ratio "out of whack"..risk is MUCH greater than the reward..actually the risk is unknowable when i start the trade..but there's a stop somewhere..

2- Infrequent signals..maybe 1 or 2 trades a week on average..
 
Lol, dude, even this is a small account but no need to pee your panties by hedging your neg. pnl in KRW from your Kospi trades. Thats less than 900 usd, with a 10% move in USDKRW you gained/lost 90 usd. you wanna pay IB each time you hedge this "risk" 2 dollars or so minimum commission charge? (sorry forgot what the minimum is but I recall its somewhere around there). Just a small tip, whether this is a real or paper trading account.



Quote from Instant Karma:

I was all over the place today, awful trading..throwing trades at the market....careless moron.. and as it turned out i got away with crime...ending up positive...
Greed, man...GREED IS THE BOSS OF ME.

(I got re-acquainted with the Kospi 200 this morning, i traded this instrument last year for a couple weeks.. I like the way it moves and all but it's way too expensive (1 lot = $25 per tick) for my small account..)

+150.20 USD


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