Elite Trader's Gambler's Anonymous ETGA

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Gawd Electric,

You are pouring your heart out to a bunch of anonymous characters in an Internet Forum...

Read your last post tomorrow and embarrass yourself...

Come to bed now and don't forget to shut the loft window, its cold tonight here in Denver, Co.

Wifey

P.S. Electric, You are NOT the only Trader that has discovered "Interest Earned", in Forex
 


I am not embarrased.

System#2 trades along quietly and there is not much more to do to the Spreadsheet. Its just the job of execution and the occasional trading. I am in the process of "dialing down" the gambling meter as you know. It is far too high for my liking. 3.50:1 will be a day to celebrate!

I played around and plugged some numbers into the spreadsheet to see what I must do to get back to trading and not gambling...I need a $3,291.00 increase in Cash as of 06/04/05. This will go up daily, with slight fluctuations due to the daily adjustment I make for the "snap-shot" variations in the UnRealized. By reaching the goal of 3:50:1 reduced the projected yield down to 27%....

Don't get greedy folks, do you know how much 27% a year compounding can give your retirment account?

Michael B.
 
Thanks, I can read this color now easily.

I will post questions when I have completed the reading , right now I am at page 39. I don't want to spoil this thread with irrelevant/ necessary or questions that have already been asked by others.
 
good to see you're still slogging it out es. i love checking up on it to see what progress you've made.

regarding your volatility grabber here's an idea for you to test. try making your targets larger than your increment spacings. eg. if you're buying every 20 pips try going for targets of a 100pips or more if you have the margin. doing it this way will mean the pool will take longer to be filled but in the long run it's way more profitable.

after a while you will be taking profits at every 20pips instead of a hundred.

good luck
 
but my targets are your time increments! (if there is not much to take I simply wait until the next snapshot) I have discarded a target or intraday replacement trade. I love your time increments! Don't take them away from me. oh wait....i could just put on the two trades (long and short) at the snapshot and let them disappear according to those larger targets. the pip increment in the spreadsheet could be the target and 17:00 est could be the entry. What do you think?

Quote from faure:

good to see you're still slogging it out es. i love checking up on it to see what progress you've made.

regarding your volatility grabber here's an idea for you to test. try making your targets larger than your increment spacings. eg. if you're buying every 20 pips try going for targets of a 100pips or more if you have the margin. doing it this way will mean the pool will take longer to be filled but in the long run it's way more profitable.

after a while you will be taking profits at every 20pips instead of a hundred.

good luck
More...
 
Sigh...

I changed the spreadsheet to calculate the range off of 2000 days and to automatically figure out beginning trade size and target. I will probably update it weekly. Martingale will be added later.

Entries simply are made based off of "faure" time resulting with entries on a 24 hour recurring period (17:00est). The wider range day entries and targets are wide apart and slow days are closer together. see attached.....

I don't know how the dwstart figures into all of this yet...

Michael B.

P.S. What I am suggesting here, is Faure Time increments are no longer the targets but the entries! (it will be exciting every day to open up the platform and see what the market gives and if any targets hit!)

 

Attachments

Yes Sir,

I am pondering which currencies to start with...any suggestions?

Michael B.

P.S. Maybe I should test this privately for a while and continue System #2 here...I have not decided yet. If I am going to lose a lot of money, I do not want so many to see it! But I consider myself experienced enough to dig out, so don't worry folks. Also I have other capital committed in the markets elsewhere. Plus, I hope that many would not try to trade System #1 while testing. I can get away with it, but this is not for the inexperienced. I would not want to be responsible for someone misunderstanding this Journal and attempting to trade anything that I say.


Quote from faure:

i think you're on the right track here.

are you going to test it in this journal?
More...
 


Folks have you ever felt like you are sitting with a "Boiling Pot of Water" ?I was once long a casino stock many years ago known as Aztar and had this same feeling as it went through the stratosphere..no not the Casino Stratosphere :))

Something good is going to happen, I know it. I feel it. many good things already have come from this Journal, and these good things don't seem to stop coming..

This anxious feeling is setting me up for some time off! Time off is a good thing. It helps you to gain perspective, there is not any hurry, I have the rest of my life.

Michael B.
 
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