Times (के जरिए forex_trader_89392)
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Times चर्चा करें
Nov 13, 2012 at 12:55
165 व्यू
1 Replies
forex_trader_89392
तबसे मेंबर है Aug 29, 2012
2 पोस्टों
Jan 21, 2013 at 09:11
This is a day trading program that utilizes a simple technical system with moderate leverage. Money management and rigorous discipline in trade execution are at the core of this project.
Trading is closed on Weekends and during US & UK Public Holidays. Trading hours are 2.00 am to 11:30 am EST (GMT-05:00). More than 5 trades are estimated on an active day. Only the EUR/USD pair is traded and only one trade is open at any time (A new trade is executed only after the previous trade is closed). Each trade has a stop loss of 0.8%. The maximum time a trade can remain open is 2 hours. Daily loss limit is set to 1.6%.
The program commences on Tuesday 22 January, 2013.
NOTE: There are a few data points from a different system (from 2012) that I have separated using custom statistics.
Trading is closed on Weekends and during US & UK Public Holidays. Trading hours are 2.00 am to 11:30 am EST (GMT-05:00). More than 5 trades are estimated on an active day. Only the EUR/USD pair is traded and only one trade is open at any time (A new trade is executed only after the previous trade is closed). Each trade has a stop loss of 0.8%. The maximum time a trade can remain open is 2 hours. Daily loss limit is set to 1.6%.
The program commences on Tuesday 22 January, 2013.
NOTE: There are a few data points from a different system (from 2012) that I have separated using custom statistics.
forex_trader_89392
तबसे मेंबर है Aug 29, 2012
2 पोस्टों
Jan 26, 2013 at 14:53
Weekend Review: January 24 was the first day with a drawdown. Why did the day end negative? Below, I discuss the possible causes and remedial steps.
The biggest loss was 35 pips even though losses were not supposed to exceed 20 pips. I identified the reason to be operating with a mental stop loss, which was flawed since price spikes can travel several pips within seconds. To prevent any recurrence every trade will now come with a hard stop-loss and I have pre-set the loss limit at 18 pips (in effect since January 25).
The 46 pip win was a pyrrhic victory. Even though the trade came with minimized risk, I had to stare at the chart for 9+ hours and that was an ordeal I wouldn’t like to repeat. A good trade should be one that comes with minimal risk and turns a decent profit in a short while. At some point the trade was up by 70+ pips and I was thinking it will hit 100. That was an error since this is a short term system and my focus would be to take multiple short wins and pile them up while restricting losses. It is good lesson though because when I started out and had the 2 hour limit for a trade, I was thinking primarily about losing trades not winning ones. To keep in tune with the system every trade will now come with a pre-set 18 pip take-profit limit and I would bail out if it isn’t hit within the 2 hour limit without waiting for the win to get bigger.
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