Cwn6161's Trading Log

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aliassmith
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Postby aliassmith » Tue Nov 09, 2010 5:19 pm

cwn6161 wrote:Entered in with a fairly fast stop out. Back to phase one size. I'm going to move out to the H4 time frame, in order to get a better view of the trend.

Image


It did move down fast after it tagged the H1 zline. No worries you'll get it.

AS a side note:
I was watching "Millionaire Inside" on Hulu and a guy on there said he
turned $1000 into $1,000,000 in 5 years. So I was wondering how that
could be done. I figure 350% yearly return would get you there. Not too
bad when targeting 1000%+ yearly.

What this really tells me is there is no reason to force trades, be greedy,
or rush anything. Having a yearly goal seems to be more relaxing than
worrying about daily progress.
Trade Your Way as Long as It Makes Money!

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cwn6161
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Postby cwn6161 » Tue Nov 09, 2010 5:42 pm

aliassmith wrote:
cwn6161 wrote:Entered in with a fairly fast stop out. Back to phase one size. I'm going to move out to the H4 time frame, in order to get a better view of the trend.

Image


It did move down fast after it tagged the H1 zline. No worries you'll get it.

AS a side note:
I was watching "Millionaire Inside" on Hulu and a guy on there said he
turned $1000 into $1,000,000 in 5 years. So I was wondering how that
could be done. I figure 350% yearly return would get you there. Not too
bad when targeting 1000%+ yearly.

What this really tells me is there is no reason to force trades, be greedy,
or rush anything. Having a yearly goal seems to be more relaxing than
worrying about daily progress.



That's something I go back and forth with in my mind. Part of me wants to be more relaxed, looking for one complete phase each month. 58-76% per month is awesome. The other part of me wants to push as hard as I can, because I'm only using 500 to start and I have enough saved to go bust a few times. And risking 3% per trade means it would take a fairly long time.

Looking back at October and taking an aggressive approach, I could have completed 5 full phases. Thats turning 500 into 7k in a month. Crazy.

cwn6161
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Postby cwn6161 » Thu Nov 18, 2010 2:09 pm

Still forming more ideas, testing little things out here and there. I'm trying to make things structured, but not mechanical.

One thing I was thinking about was my exits. Previously, I was looking to take a strict 4:1 return on every trade. I think thats too mechanical, so I might change my exit to seeing an entrance in the opposite direction.

That brings me to my latest trade...

Image

I entered short on the red line after seeing a few wicks. Obviously I've been stopped out. Part of me says "you idiot, you missed the wicks that formed a new entry for long" and another part says "if you are going to be holding until a real opposite entry forms, there are times you will give up everything you've gained, in order to try and take even more next time"

Looks like I need to look back again and let different wick patterns sink into my head.

cwn6161
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Postby cwn6161 » Fri Nov 19, 2010 4:38 pm

I am currently waiting for a short signal, since the last valid signal was long.

cwn6161
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Postby cwn6161 » Wed Dec 01, 2010 9:34 pm

After a number of attempts and failures, I'm in a state of frustration. Looking for wicks on the 4H has proven to be a hassle due to my schedule, and I end up missing a number of signals. On the 19th I said I was looking for a short signal, and somehow I managed to miss out on some 700 pips in the recent drop. I've made a few winning trades, but have been stopped out at others and so remain just under breakeven.

I'd like to have a method that allows me to look for trades at the start of the day, from 8-12 or so.

I'm going to go back to the beginning to CCs, while keeping my money management phases in mind.

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cwn6161
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Postby cwn6161 » Thu Dec 02, 2010 4:48 am

I think I need to look over my method and critique it for better ideas.

Pair to trade - EU.

Overall goal/idea - I know that every week, price will move x amount from the extremes. Someone once said you shouldn't be entering a trade unless you expect to make at least 100 pips from it, so I'd like to start out going for 100 pips in a week. I'm not thinking of cash here, I want to work on taking big pips from the market each week.

I work full time, but have the ability to check trades when I need to. If I could check in the mornings (Monday would be best) for the extremes and look to enter, that would be key for me.

Timeframe - H1 or H4. Using CC in both.

Risk - 6% a week. Initial trades will risk 3%, so I've got two tries to catch the movement. My current stop loss is 25 pips. I'm questioning if that's enough for the timeframe I'm trading?

I'd add more to this later. If anyone has ideas on the stuff above I could refine, please say so.

cwn6161
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Postby cwn6161 » Fri Dec 03, 2010 8:08 pm

Gonna try something new, and stick with it.

Looking to make 200 pips, while risking 50. 4:1 return. On top of that, I'd like my money management to follow a similar pattern. Everytime I increase size to trade, I'd to have 4 chances before I break even.

For example:

Trade 1 - Use 5 lots and risk 50 pips to make 200.

Trade 2 - Use 5 lots and risk 50 pips to make 200 (I can lose 4 times before I'm back to starting capital)

Trade 3 - Use 10 lots and risk 50 pips to make 200 ( from last 2 trades I can fail 4 times with 10 lots before I break even)

Trade 4 - Use 20 lots and risk 50 pips to make 200 ( from last 3 trades I can fail 4 times with 20 lots before I break even)

I will only look at daily charts. I hope this will prevent me from looking at my trades all day and reduce the emotional aspect of trading. Looking at a trade does nothing if I'm not planning on getting out.

My horizontal lines will be price multiples of 250 pips. 1.3, 1.3250, 1.35 etc etc.

cwn6161
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Postby cwn6161 » Tue Dec 07, 2010 7:06 pm

Trying out the multiple CC combo to look for entries. White follows gray, but has closed higher which I take to mean that gray found resistance. Short in the 1.3300 area for a 50 pip stop. Looking to get 200+ pips.

Image

cwn6161
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Postby cwn6161 » Mon Dec 13, 2010 3:41 pm

Stopped out. What can I learn from this? Last week I was offered 100 pips numerous times, should I have taken what was given me, or was it ok to try and hold for something bigger?

Image

cwn6161
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Postby cwn6161 » Tue Dec 14, 2010 1:46 pm

Going to trade 1 micro so I stop thinking about money, and focus on what the market is trying to tell me.

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