MickDs Common Sense journal. - Page 5
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Thread: MickDs Common Sense journal.

  1. #41
    Very 'flat' market day for me today, apartment as in continuous trend against meo

    I'm short AJ with about 5 units in, sitting comfy though with just a third of my hazard to gain back, if and when the swing back happens I'll be set to capitalise on it. There have been short swings although maybe not enough for me to bother banks the takings, best sit for some time until we get some volatility and ch up then.

    I was planning to have an easy moment! The biggest problem was jumping in too early and not getting a sense of the market.

    On a fantastic note, however, I pulled myself into the deep end again twice last night and swam my way out with tidy profits. As soon as it is possible to pull off trades like this and still make money it's a real confidence booster I must say, I'll start to twist in my chair once I reach my risk tolerance though but I still have loads of space right now.

    I'll post the results back later.

    I was pretty much ahead and it seemed like it was going in my favour - quite slowwwly - so I put in two or three tp's for my first two units and went to bed. They got filled and I walked away with $151 (about 0.15 percent/day) for a losing trade

    I opened the accounts about 1?1/2 months ago and have been trading this way for about a week, so far I've made 2%, not bad but hard job! I enjoy this kind of trading however so I'll stick with it and see how it stands out.

  2. #42
    So far so great!
    Had another commerce on the past night, I went long on AJ for fun, it seemed like it was bottoming out soon anyhow, so I left it immediately as the market is really slow due to insufficient volume I would say.
    I was down for some time and it turned in my favour this afternoon I rode up it and got out after both components I had in were in profit, I was getting pretty tired I must say. 15mins later it taken up another 30 odd pips! , that'll learn me

    That will do me for this year anyway, so far while trading this manner I haven't reserved a loss and normally earn ~0.02% of account balance each trade, that's pretty good considering I am trading against the trend! (is ther a trend??)
    I am being pretty conservative though and that I might ramp it up a little once I am a bit more familiar with the amounts, margin is the big one to see here more so than risk, especially when I go live with a substantially bigger account, I don't want the call I'll never get

  3. #43
    Happy New Year All, wish you all the best on your trading this year!

    I'm still on demo to get a little until the market settles into the new year, I'll open a live account next week, probably 500-1000$ to begin together and see how it goes. Working out a safe position size to protect margin is going to be the toughest first obstacle but dependent on %ages that I've been using I should be okay with mini/micro lot sizes.

    Here is my activity record so far this year, I am pretty pleased with it
    I need some way to plot an equity curve out of my reports, I am guessing I will have the ability to with Oanda once I go live, you will find a number of options disabled in demo mode, we will see.

  4. #44
    Believe it or not, I'm still long about the A/J! My blotter does not seem to healthy at the moment but I'm still taking gains as they become available on the swings.
    So far I've had this position for three days and I've pulled out a considerable amount.
    My goal in the very least is to acquire square where I was another day or much better, if the purchase price keeps rallying upward though I will keep hanging on until 'square up' my blotter and call it a day if it seems like it will return again.
    This will still leave me with a fantastic profit.

    When I have something I'd change on this kind of trading is my own hazard, this is a very competitive position, I allowed myself to danger 10% of my funds with this 1 position to see how I'd manage it, exactly what the margin could be etc.. Thus far I've got to around $6500-7000 potential loss but in saying that I've also pulled about $4000 in small profits so that still leaves me with a loss of around $3000 so I still have space to hold on if I want it.

    I'd probably bring my danger back to 1-2% if trading this sum however, but I could try this with a small amout, state a $1000 accounts simply to build it somewhat quicker. If I can bank a couple bucks early I will then use the home money to keep going high-risk else start again until I build a half decent account size.

    Scary stuff indeed!

    P.S. see also the take gains in my personal activity blotter, these were set overnight, I might have played a bit better if I was watching the action, ie. I'd have held several transactions a bit more time to compound the gains. At the stage though I was happy if they all got closed out to get a little profit

  5. #45
    Following 4-5 days I'm making headway, if I closed out my position now I would be 2k ahead! There's still a bit left in the tank I hope to close out my other damaging components in gain and it'll have all been worthwhile.

  6. #46
    A quick update:
    Through the night I put my tp's at some fib levels I put yesterday and many were struck to leave me with a negative on my blotter of just -$2500 and an account balance of approx. $ sweet!

    I started up this morning to watch a couple more struck my 1.618 fib level only to miss it by a couple of pips then watch it plough down to the -0.382 degree. I had been buying in 12500 agian .

    Looks like another long day, on the bright side although it's hit the lower level and it is clawing it's way back up so let's see if I could pull a few more k out before finally calling it quits with a very reasonable profit.

  7. #47
    I eventually pulled the pin this morning as the A/J was coiling up in the 97.00 mark. Now I was still down 2700 in my blotter but I had managed to construct my book up to over 115k, and so I reserved the little loss and still walked away very happy with a 11k gain (or there abouts), the action blotter below.

    My 'view' at this stage is that there is a fantastic prospect of the price heading south but I'm not jumping in again until I see some conformation, it might well break resistance in 97 and mind skywards which is what the daily would cause you to think.

    I've learned volumes on this trade! MM - margin and vulnerability, MO - what's my target and stick with it, PA - I've been using fib's into 'expect' price entry and gain goals (after a quick read over in Skunny's ribbon) and using these the last few days has been amazing! I'm not leaving home with no golden ratio, it was a real eye opener

    Anyway, I'm likely to have a break for a day or two, play some fib's and some numbers as I find time and fine tune my entry and exits a little more. I also need to crunch some numbers to suit my measly 1k account once I open it soon

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