Skaven's Road to the Banks
Posted: Fri Jun 04, 2010 12:15 pm
So, here it is. I have decided to keep on on-line journal. I will post all my sucesses here. Positive thinking does not allow for me to have failures; however, since those shall and will happen as well, I will post those here to. Perhaps if I am doing something wrong, somebody on this board will point it out and help guide me in the right direction. Or laugh. At least it will be something.
Since I am just getting started and set back up, I have no charts to post yet (except for the problem that will be posted further down in the thread). Upon reading through the NLA thread and dabbling in the Drain the Bank threads, I offically have information overload. So, I will go through it again (I got up the the page 150 range....zLine area) while focusing on the basic of basics. All I am looking at now is the SweetSpots (xx00, xx25, xx50, xx75) and the Buzzards. The concepts are simple. I have actually been trading them for a couple weeks on demo and went live this week. I'm not exactly "Draining the Banks" yet, but I am sticking to my money management and doing very well. At least by my standard.
Looking at my detailed statement, I have made 12 trades this week (mostly SweetSpot trades). 9 wins with 3 losses. I feel comfortable with the trades. 9 good solid trades that went exactly where I "SAW" them going. In fact, 2 of the 3 losers were good trades too. The first was a pending order that I saw was not going to go where I wanted it to go. As I was in the process of deleting the order, it hit my price. Instead of closing the order instantly with only my spread loss, I tried to ride it out and gain something. My mistake, lesson learned. The second was a good trade that simply went against me. It will happen in Forex and I still feel good about it. Those two trade happened back-to-back, so my day was over with only a 0.5% loss to my account (I had two winners before that). The last losser was operator error on my part with the trading platform. Hit the wrong button.
I don't know exactly what I am "seeing" yet, but I do see something. I confidently entered those trades (except for my error), and they did exactly what I thought they would. I didn't get greedy and took some pips. Almost 3% on my account in the 3 days I traded. I am done for this week (since I got 2% today trading the Buzzards) and I look forward to a weekend of reading and the upcoming trading week. As I get set-up more, I will post what I do (with charts) as well as my methods with my trading rules in greater detail. Until then.
Good Trading
Edward
Since I am just getting started and set back up, I have no charts to post yet (except for the problem that will be posted further down in the thread). Upon reading through the NLA thread and dabbling in the Drain the Bank threads, I offically have information overload. So, I will go through it again (I got up the the page 150 range....zLine area) while focusing on the basic of basics. All I am looking at now is the SweetSpots (xx00, xx25, xx50, xx75) and the Buzzards. The concepts are simple. I have actually been trading them for a couple weeks on demo and went live this week. I'm not exactly "Draining the Banks" yet, but I am sticking to my money management and doing very well. At least by my standard.
Looking at my detailed statement, I have made 12 trades this week (mostly SweetSpot trades). 9 wins with 3 losses. I feel comfortable with the trades. 9 good solid trades that went exactly where I "SAW" them going. In fact, 2 of the 3 losers were good trades too. The first was a pending order that I saw was not going to go where I wanted it to go. As I was in the process of deleting the order, it hit my price. Instead of closing the order instantly with only my spread loss, I tried to ride it out and gain something. My mistake, lesson learned. The second was a good trade that simply went against me. It will happen in Forex and I still feel good about it. Those two trade happened back-to-back, so my day was over with only a 0.5% loss to my account (I had two winners before that). The last losser was operator error on my part with the trading platform. Hit the wrong button.
I don't know exactly what I am "seeing" yet, but I do see something. I confidently entered those trades (except for my error), and they did exactly what I thought they would. I didn't get greedy and took some pips. Almost 3% on my account in the 3 days I traded. I am done for this week (since I got 2% today trading the Buzzards) and I look forward to a weekend of reading and the upcoming trading week. As I get set-up more, I will post what I do (with charts) as well as my methods with my trading rules in greater detail. Until then.
Good Trading
Edward