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Monday was pretty slow as usual

admin — Mon, 06 Jul 2009 09:54:14 +0000

I lost 17 pts today, but considering the huge swings i have had lately 17 pts seems like a minor blip, so nothing to worry about, tomorrow I wont be able to trade as I will be going away for the night, so it will be nice to have a break.

I have just come up with a wonderful idea today, something I am quite excited about, so I will start testing that on Thursday, it seems like a fail safe no lose method, i know, many people say things like that, but seriously if I am not greedy, this really is a fantastic idea. can’t wait to see how it performs.

Saturday to end my trading fortnight

admin — Sun, 05 Jul 2009 10:42:22 +0000

Saturday was a terrible day, I ended with -51.5 , I couldn’t believe how bad it went, the main culprit was my previous superstar system AUS #1, that lost me 44 pts, I guess it really had been going far too well and was due to pull back to reality at some point. The over all results for the week were not so great :

2nd week results

AUS value = -4.3 pt
UK drift = 3.5 pt
AUS drift = 1 pt
AUS #4 = 36 pt
AUS #1 = -2 pt

Total fortnight results

AUS value = 7.2 pt
UK drift = 3.5 pt
AUS drift = -4 pt
AUS #4 = 84 pt
AUS #1 = 62 pt

Total fortnight profit = 152.7

That is a great result, but I need to refine the three top systems, so the next two weeks I will drop “AUS value” completely, and turn “AUS drift” upside down which was my original plan during testing anyway. I will keep UK drift as i have great plans for that, and in fact I think it is going to be my best and most successful system,

Bring on next week.

Tuesday was a nightmare

admin — Wed, 01 Jul 2009 08:39:13 +0000

What a day this was, by far the worst so far, it seemed like nothing could ever go right.

But as i always like to take positives from everything I possibly can, I am glad this happened, as I now realize a couple of important things in trading, firstly you must never trade with too much of your accounts balance at risk, I had read many times professional traders advising to risk just 2-5% of your bank on any one trade, now I know why, because it is inevitable you will get bad days, the successful trader is one that has more good days than bad days, and doesn’t let their bad days effect their trading plan.

Also i realized that it is very possible to have bad days, possibly even twice as bad as this one, but in the long term it does not necessarily mean anything, just a small blip on a very large map.

So if you believe in your system, u can not give up if you have a scary day. All part of the psychology in Trading. Those who are strong will have a far greater chance of succeeding.

Over all my strategies I had -44.5 pts today, the worst ones being AUS drift and UK drift. My original strategy lost 2 pts, for the third losing day in a row, but only -10pts all up.

I will look forward to tomorrows results.

Monday the day of discovery

admin — Mon, 29 Jun 2009 10:50:54 +0000

Well today was virtually a non event, so nothing much to tell, except something amazing in terms of my luck.

Since I started this trading study, I have traded on 9 days straight, now check out some of these totally whack numbers.

I have had 213 trades
I have had 18 losses
The losses have equaled a total of 210 pts
5 of the losses were in the last 2 trades
and those 5 losses equaled 57.5 pts

So my last two trades have caused me 28% of my losing trades and have lost me 28% of my profits.

Over the 9 days I would average 23.5 trades per day, so i should have had a loss in my last 2 trades less than 1 time and only lost about 12 pts. So this is really a huge statistical anomaly, and hopefully it will correct itself.

So as for the days results, I just made 3.6 pts over all my strategies, my original strategy lost 3.5 pts again due to the final trade losing me 10.5 pts.

Sunday bloody Sunday

admin — Mon, 29 Jun 2009 10:05:21 +0000

Well a lot of work for basically nothing today, I am starting to think my original strategy is not so great, I got another negative day out of that, down 4.5 pts, but i lost 11.5 pts on the last trade of the day, seems to be becoming a common thing for me, am I really so unlucky, or is it just an anomaly ?

For the day I was up 41.5 pts, thanks to AUS #4, but it is early days and over the last week I am well up over all, I decided to make a sheet using Google docs, so soon when i have enough data I will be able to make some charts or graphs that will give a more visual indication of how my strategies are going.

Day 2 I made stupid errors

admin — Fri, 19 Jun 2009 10:12:12 +0000

Ok today is my second day trading, I started after work again, and followed the same plan, I had an early loss, but soon recovered and got back even, then i made two really silly mistakes, buying in then watching tv and totally forgetting about it, during this time my sell triggered, but i didn’t realise and it went on to lose me money, it happened twice, and so after my 2.5 hrs of trading i finished with a loss of about 55$ on the day.

I now have about 412$, but i know if i had concentrated i would not have had a loss on either trade, and should have finished in front for the second day running.

I will not let this effect my strategy or my confidence as it was my own stupidity, nothing wrong with the system.

Tomorrow i have no work, so it will be a big day.

My new trading strategy

admin — Fri, 19 Jun 2009 10:03:54 +0000

Well i have spent the last while taking down a stack of statistics and trying to develop a trading strategy that doesn’t require too much of my time researching, and is reliable to give decent returns over the long term.

I feel like i have found it, it does require my time to trade the system, but at least i don’t need to think too much to do it.

I started my first trading day on June 18, after starting with 300$, and ended the day with 469$. I made no mistakes and traded for about 2.5 hours after work.

I am going to try and keep a record of how i go, because i know the only thing that will make this thing fail is my own laziness, or lack of concentration.

I will start the first few days talking in dollar values, but after that I will move to talking in terms of points, that way it is easier to see a real value, as the profit is totally dependent on the level of investment made.