Curious that this thread has attracted so little attention. Maybe my round-robin "Hey guys, a new toy
to play with" have more impact than I imagine, and I have not sent one for this thread.
So, study the attached statement. The slightly odd start balance is because I had a demo account trading as I describe in post 1, that I buggered up when my
Waiting EA code was not quite right. I started again with what would have been the original balance starting with $2000 and up $70. The statement says everything.
More
to the point is live trading, and anyone who ignores this bit
really is an idiot. Everything I describe from here on concerns my live trading account.
I have a number of trades left behind horribly into dd from my experiments with The Beast. I long ago decided
to deal with these one by one as part of my learning-
to-trade stuff.
So, first up was the simplest. A GBPJPY
buy, left behind before the latest Big Tumble that saw the pair hit its all-time low of 116.845 back in August. Not a problem, except that the
buy trade was taken at 139.701, so that is
quite a lot of pips in the hole.
Good thing I had long ago eschewed Bob's 'tiny lot sizes' philosophy - and also might explain why I have no interest in risk-based lot sizing.
A number of hedge trades that I closed prematurely added lots
to the balance but nothing
to the equity.
This blasted trade was sent on the 8TH April last year. It hung around for months, with the so-called psychotic GJ going nowhere for ever and ever and ever.
Shortly after I came up with this trading idea, the damn GJ started
to move, so I started
to take live manual trades as the demo started
to show that the idea had some legs.
I have continued
to take buys as the market broke the latest resistance. The brilliant upsurge today has worked wonders. At its worst, that blasted GJ trade was -$230, or roughly 10% of the account balance (yes, I know, but you have
to be inside my head
to understand my attitude
to dd It doesn't kill me, ok?). As the market has risen, I have stacked more
buy trades, gradually locking more and more profit as the day continued.
So, that maximum dd of $230 is converted
to a positive upl of +$46 courtesy of: scoobs providing the overall trend direction; sq providing the trade trigger.
I have moved the stop of all the profitable trades
to within a couple of hundred of pips (largest trade is +640 pips) or so of the market so that lots of profit is locked in should the market instantly retrace on Monday - always a strong possibility given the strength of the move today. Come what may, the method has offered up lots of profits this week. If the GJ move continues next week, then I shall continue
to follow it upwards. If not, I will probably be left with that original trade but also with a clearer idea about what
to do about it.
So, what I hope is that by this time next week: the GJ basket will have closed at a magnificent profit; I will have made a start on reducing the eurchf and gbpchf baskets still outstanding from the Big Beast days. If I can sort out that little lot, then I really
will have learned how
to trade.
Possibly.
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