EUR/JPY Daily (By forex_trader_3695)
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EUR/JPY Daily Discussion
Apr 07, 2010 at 17:45
1,187 Views
5 Replies
forex_trader_3695
Member Since Nov 26, 2009
8 posts
Jul 20, 2010 at 17:06
I just wanted to give an update to anybody that may see my results. From the first of March to the end of June I was mainly entering trades on a 4hr chart using everything that i've learned during my time trading forex. Starting the first of July I have switched my entries to the 15minute time frame only, targeting the daily move and not staying in longer than one day at a time. I find that this has reduced stress on my part and helped me to become a little more profitable. To each his own i guess, we all have to find our own way in this maze.😄
Court
Court
forex_trader_3695
Member Since Nov 26, 2009
8 posts
Jul 21, 2010 at 18:20
My excessive drawdown on June 28th is due to an order entry mistake on my part. I entered 0.90 lots when I meant to enter 0.09 lots on a straddle trade. I often trade the inside and breakout of small ranges with a stop and reverse, and since I entered the market with 0.90 I was forced to counter it with an equal or greater position for the reverse, otherwise I would have been stuck with a permanent loss instead of a short bounce of drawdown.
Court
Court
forex_trader_8139
Member Since Mar 04, 2010
423 posts
Jul 21, 2010 at 18:48
intelexence posted:
My excessive drawdown on June 28th is due to an order entry mistake on my part. I entered 0.90 lots when I meant to enter 0.09 lots on a straddle trade. I often trade the inside and breakout of small ranges with a stop and reverse, and since I entered the market with 0.90 I was forced to counter it with an equal or greater position for the reverse, otherwise I would have been stuck with a permanent loss instead of a short bounce of drawdown.
Court
Hi,
EA always able to avoid human error.
Thanks,
SIM
forex_trader_3695
Member Since Nov 26, 2009
8 posts
Jul 22, 2010 at 00:13
Thanks for the reply Sim, and yes you are correct, an EA would have avoided this mistake. That is why I am going to automate my entries with scripts from now on. It's through mistakes that I become a better trader.
Thanks,
Court
Thanks,
Court
Nov 17, 2010 at 09:50
@intelexence: are you a MM?
forex_trader_3695
Member Since Nov 26, 2009
8 posts
Nov 22, 2010 at 16:53
Well, I do manage a small amount of my own money, but I don't manage any for clients. Eventually I plan to invest more into my own personal account and when that time comes I might take a few clients. I'm thinking I would like to see another year of trading results which are better than this years results before taking it to the next step.
Thanks,
Court
Thanks,
Court
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