Quote from RealForexTrades:
You said that you briefly âscannedâ the Journal. Two things (and donât take this personally):
1) I would strongly suggest that you submit a complaint to the moderator to have those who scatter drive by shooting threads that have nothing to do with the actual trade journal itself, to be banned from posting inside this thread unless they have something on-topic and intelligent to add to the journal. That way, you wonât have to read through so much off-topic nonsense just to get answers to your very easily answered questions and I wonât have to answer the same questions about a dozen times. I think that would be a fair way to approach the problem of children who love to play inside of someone elseâs journal with off-topic, go-no-where, do-nothing posts.
2) If you take a close look, you will see that I run a very organized Journal structure. I donât do must things out of order and I come from a background where following protocols and rules actually mean something. So, for your benefit, you will find that my journal entries are organized and structured for ease of reading and comprehension. Iâve been doing this for years and I think Iâve worked out a way such that just about any 10 year old could follow my journal and know whatâs going on at just about any time.
When you look back at the journal you see a format such as this:
24hrs - From 3/20/06 to 3/21/06:
First Day Trade
Long
Entry 2161
Limit 2175
Stop None
Inactive
You will find three (3) trade profiles embedded into one outline as I stated in my first post in this thread. This is for ease of tracking. I update each profile that the system updates with relevant changes in near-real-time when I can (I have other things to do daily as well). My systemâs update time where it rolls over to the next daily bar of data, is 7pm Eastern as Iâve stated several other times before.
Under the âStopâ insert in each profile, you will find the trade status insert with a label of either: Active, Inactive, Pending or Closed. Note that the only reason the very first trade was not labeled âClosedâ was due to the timing of the system update being at 7pm Eastern and Benâs speech ALSO being at 7pm Eastern. I trade LIVE CASH accounts. So, my very first priority is to protect equity â period. Everything else is a distant second. So, when Ben speaks â I listen â especially when I have an open position that his words could easily destroy. So, you donât see the very first trade with a âCloseâ trade status showing the number of pips gained on the trade.
However, you do see a post that does show that I closed the position, what time the position was closed and at what price. That trade was closed for 15 pips. That was my first Day trade this week. The Swing Trade profile shows you that it is still âActiveâ. All you have to do to know its pip total status is subtract the current EURUSD Close Price from the Swing Trade Profile Entry Price to get the current near-real-time pip P/L. Right now, the Swing Trade Profile is up 85 pips and saw a maximum of 100 pips unrealized thus far this week.
I missed todayâs trade which for me began yesterday in the Day Trade Profiles due to Benspeak prematurely downing the price at the open of the last session. The price did move back into the Entry Region that I spoke of yesterday, but I also did not Enter a Limit Entry order to capture it. Had I done so, that trade would have gone on to net approximately 70 pips total as of 12:58pm Eastern time today. However, I am not counting that trade because I did not make it â but the system did perform inline with expectations considering the Ben small mildly hawkish event.
Yes. Take a look at the âClosedâ Position Trade for this Month in the outline of the trade profiles. Also, for the Month of January, the Position Trade net 505 pips. For the Month of Feb, the Position Trade net 297 pips. January, February and March totals = 1,056 net positive pips. Three consecutive months using the new version of the system with zero failures in the Position profiles, or the Swing profiles.
I do not trade Position profiles routinely. Iâm a Day Trader by nature and I can capture more pips that way simply because the system will call both Long AND Short trades throughout an entire month where the Position Trade is only single sided. However, I will use the Position Trade Profiles whenever I need to take a vacation or step away from my trading screen on business for prolonged periods of time.
Thatâs when I will use the long range missiles found in the Position profiles. Iâll use the Swing profiles whenever I cannot entirely focus on Day trading during the course of any given week, but I do not routinely use Swing profiles either. But, it is nice to have these profiles in reserve when I need them. It is always good to have more than one way to skin a cat and continue the revenue flow in this business.
Peace and Profit - I like that.
Fair enough, you started condescendingly but pulled thru with merit!!!!
I was interested in your program as it is similar in nature to one of ours. I have a relatively successfully CTA which I run from SW France and am also involved with a research group based in Italy that has come up with an FX sht term system, also producing fairly consistent results. I had them start a journal (Sht term FX system I think) in order to try and iron out any glitches and let the vultures pick at it a little to show up any obvious faults.....and came across yours.
Will be interested to see your progress.
Peace & Profit
