closed at 1.4394. +23pips. (left one dollar, but for journal purposes it is closed).
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Tradingjournals Quest... Turn $100 To $100K or To Ash
- Thread starter tradingjournals
- Start date
summary so far (we are in day 3):
Net: +330pips
Cumulative gains: 353pips.
Cumulative losses: 23
Number of trades:13
Number of trades with gain:12
Number of trades with loss: 1
Net: +330pips
Cumulative gains: 353pips.
Cumulative losses: 23
Number of trades:13
Number of trades with gain:12
Number of trades with loss: 1
e/u at 1.4362. I am going to try the long side.
udpate: stopped at 1.4363.
udpate: stopped at 1.4363.
It looks like an outside day. I have to give sometime before deciding whether it is a true reversal day (due to outside day behaviour).
Quote from Lucrum:
I guess we'll just have to take your word for it.
Gosh if this is all there is to a journal, and all the attention that comes with it, I may start my own. I mean apparently all one has to do is claim he made a trade and profit after the fact and you're set.
I do have a question, will you be deleting trade entry posts after the market moves against you like you did recently in the FX forum?
And before you start crying, remember you said here:
Get your posts out of this thread. This thread is my journal. Do not dirty it with your posts.
If the comment below is what is bothering you, did you consider discussing it with Mr. price?
http://www.elitetrader.com/vb/showthread.php?s=&threadid=218121&perpage=6&pagenumber=15Quote from Lucrum:
I could see 1.50 printing soon.
The price was around 1.49. The distance seemed too short, but it may have seemed too far when e/u hit the 1.39 area. I would not be surprised some people were bullish when price was at 1.49 and bearish when it was at 1.39.
Moderators: If you want a history related to post above, check posts by same posters in above thread url, and also in the politics/religion forum in which e/u are mentioned, but I did not respond to them.
This thread is temporarily in halt until moderators check it, and clean it.
Quote from tradingjournals:
I created an account of $100 to trade it for the purpose of this journal, which is to run a number of experiments that would involve (1) some new entry/exit methods I developed as approximations of some more demanding trading models, (2) some new money management methods, and (3) to ascertain whether small-money vs. big-money has effects on trading psychology.
I would be interested in reading input from experienced traders on how to keep a journal, whether it is worth it, and the metrics one should use to decide whether a journal is worth keeping.
You can make your bets on which would come first: The double of the $100, or its turning to ashes. My vote is the A., but I would not hate to be proved wrong.
Since $100 is small, I plan to trade currencies since one can trade with small amounts such as $100 sizes.
Inputs and questions are generally not welcome, except from the real experienced traders or the real newbies who want to exchange views on trading.
Also no input from sponsors is welcome here, as I do not wish to see sponsors jump on the thread and post filler material just to appear in front of traffic.
I reserve the rights to the content of this thread. I also reserve the right to move this thread and its content to a blog.
Let us start with a question. Suppose that one cannot stay in a trade beyond a time T (2 hours, 1 day, whatever). So the exposure time is fixed, but a trade can be closed early, and of course cannot be kept open after T time has elapsed since its opening.
Q1: what are your favorite probs of success and the corresponding risk/reward?
Q2. What is the theoretical payoff you would consider excellent? Payoff is here defined as expected value of gains divided by expected value of losses.
Q3: Assuming an efficient market, is there a max value for the ratio in Q2?
I am still waiting for the mods to appear. Since I am at a junction in experiment, I thought to write it down before time passes. The total gain have now triggered a function to look at leverage increase. I have been applying between 0.5 and 0.25 (0.5 is the target, but sometimes only 0.25 is taken because it does not reach the second entry).
With regard to trades. e/u is now at 1.4480. Just closed a long trade entered earlier. +70pips. My initial target was 1.4490. I am concerned that some sellers may show up earlier and take from the gains. If any one advice about how to deal with changes in targets like this, I would be interested to know.
Summary:
Net: +401pips
Cumulative gains: 424pips.
Cumulative losses: 23
Number of trades:15
Number of trades with gain:14
Number of trades with loss: 1
Bigggest missed opportunity:
It was yesterday. As I commented in a previous post, I was suspicious of the day low of 1.4360. A signal came in afterhours, at 1.4310. I was not there to take it. I could have take a long trade with a retreat last evening to 1.4325. I hesitated and missed. I could have been a great trade as I had 1.4480 as the target which was hit during the night (europe session). It would have been more than 155 pips, close to 50% of the pips production based on yesterday's tally.
PS: I placed a small order to test whether I would have been filled had stayed with aim to reach my initial target. I put a tiny sell order at 1.44892. Let us see if I would get filled, and if I get filled how long it would take and whether it would happen without a retreat from current 1.4480 level.
With regard to trades. e/u is now at 1.4480. Just closed a long trade entered earlier. +70pips. My initial target was 1.4490. I am concerned that some sellers may show up earlier and take from the gains. If any one advice about how to deal with changes in targets like this, I would be interested to know.
Summary:
Net: +401pips
Cumulative gains: 424pips.
Cumulative losses: 23
Number of trades:15
Number of trades with gain:14
Number of trades with loss: 1
Bigggest missed opportunity:
It was yesterday. As I commented in a previous post, I was suspicious of the day low of 1.4360. A signal came in afterhours, at 1.4310. I was not there to take it. I could have take a long trade with a retreat last evening to 1.4325. I hesitated and missed. I could have been a great trade as I had 1.4480 as the target which was hit during the night (europe session). It would have been more than 155 pips, close to 50% of the pips production based on yesterday's tally.
Quote from tradingjournals:
It looks like an outside day. I have to give sometime before deciding whether it is a true reversal day (due to outside day behaviour).
PS: I placed a small order to test whether I would have been filled had stayed with aim to reach my initial target. I put a tiny sell order at 1.44892. Let us see if I would get filled, and if I get filled how long it would take and whether it would happen without a retreat from current 1.4480 level.
e/u at 1.4606. My fingers (and my left ball) are itching, which, judging by the past, can be a sign for me to consider a trade.
Where are the mods? This thread needs you.
Where are the mods? This thread needs you.
e/u at 1.4640. I am trying the short side. There seems to be trapped bears. I may have to be patient.