How to Trade 10.x Like a Boss

[Jemook]

So far I've lost half of what I've made in a steady string of losses. The winning days are still much better than the losing so for now I'm going to keep at it and see how this works in the long run. If I lose all my gains I will rename this thread to "How to Trade 10.x Like an Employee"

[nicoacademia]

some markets have been trying to transition to a new normal.
but have yet to find their feet.

some markets like the AUDUSD have stuck to their current theme.
whereas others have been jolted.
hence the jumbledupness.

i still use the principles of 10.4 but altered the tools used customised to my liking.

[Jemook]

Ouch! The account is hurting big time. Even with trying to keep my losses small I'm struggling to catch on to a trend. I can see AUDUSD and EURUSD were great trades this week but I didn't enter them for some reason. Not sure if this lacklustre performance is cause I may be too busy with other things to be able to focus on this properly but I'll try and work out if something needs changing.

ouch.png

Ahh.. The ever elusive crack to the FX code still eludes me

[nicoacademia]

Ouch! The account is hurting big time. Even with trying to keep my losses small I'm struggling to catch on to a trend. I can see AUDUSD and EURUSD were great trades this week but I didn't enter them for some reason. Not sure if this lacklustre performance is cause I may be too busy with other things to be able to focus on this properly but I'll try and work out if something needs changing.

ouch.png

Ahh.. The ever elusive crack to the FX code still eludes me

do you see something encouraging? (despite that it is a downward equity curve)

the losses are small.

that's a good sign.

the markets are...really not in a very trend mode.
its all been plays inside the range.

if you look at the S&P500 it too is trying to discover whether it has fully digested what tapering means. on its ETF it is just 2 dojis and a block of green.

i would keep going on the system for at least a target of until the end of the year to fully appreciate(and not miss out) what it can do for you.

just imagine we are in a market where if you dump 1 billion into it. you can move it only by maybe at crazy best...40-50pips.

without these small losses. there is no key to this FX code.

[Jemook]

I might look at tweaking the money management so I only cherry pick trades with a really high R:R of say 1:6 and letting them run. I just don't have the time these days to baby sit the trades.

Also trying to get back in on a trend 3 times and closing them at .33% loss before it hits the 1% SL is the same as a 1% SL anyway so it's like a "death by 1000 cuts" to quote someone I admire.

I have some thinking to do! I still think this strategy has merits but I might need to tweak a bit to suit what screen time I can afford these days.

Will keep you in the loop!

J

[Jemook]

LOL well that was an easy GBPCHF trade! 3.4% gain ..

2013-07-04 09.40.20 pm.png

GBPUSD also hit TP with 1.3% ..

2013-07-04 09.50.37 pm.png

2013-07-04 09.42.05 pm.png

Finally some good news

[cmeade2]

That was a lucky call, that I am sure was welcome.

Amazing impact of that Bank of England non-statement.

LOL well that was an easy GBPCHF trade! 3.4% gain .. GBPUSD also hit TP with 1.3%

2013-07-04 09.40.20 pm.png

2013-07-04 09.42.05 pm.png

Finally some good news

[cmeade2]

FWIW I think the root of our problems is that CSS curves have all been bunching up towards 0. There may be some crosses and the color may change for the CSS, but it really doesn't mean much because there is no trend. All of this is reflected in Baluda's global market trend indicator which has been sliding towards 0 all week. Interestingly, recent dive in the Gbp only makes it worse because it plunged from a high back to 0.

[Jemook]

BTW CM I haven't forgottem about your PM just had some big fish to fry this week. Will get back to you as soon as I can.

J

[Jemook]

Ok I think I may have been overtrading and taking too many setups and not being able to focus on what's in front of me. From now on it's one trade a day only looking for the most rewarding and juicy setup. Still sticking to same rules.

I worked out that I averaged about 7 trades a day since I started so hopefully focusing on just 1 trade a day will improve my stats. Let's see if I can pull a rabbit out of a hat.

J