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Yes, and that sucks sometimes! Although I can't complain about always pulling a net profit. If I can always win, I shouldn't complain, since 90%+ are losing their shirts everyday!
I have a eur/usd chart from last night's trading. Wonderful short. I also shorted AUD/JPY....one hell of a short!!! charts attached.
Was it the first bet, second, third?....I tried black jack and rullette...doesn't work...but with trading it is different...I don't have huge loosing streaks as in casino....
Yesterday I hit my winner on my 4th trade and my 5th trade consecutively.
I was down about 1% over the course of 24 hours and made it all back plus a small profit.
No, I don't have huge losing streaks. Usually I win within 1-5 trades. I have been winning ever since I started this experiment.
Yes the casino has terrible odds. Unless it's poker, then you can create your own odds to an extent.
Do you have set SL & TP or it changes from trade to trade?
The stop loss is a reversal, which can change from trade to trade.
The take profit target is loosely set on each trade based on pivots/S&R. Also, if I've lost more than a few trades in a row, my goal is to hit breakeven, PLUS a small profit (5-20pip past B/E point), then I close the position at a net gain. This stops the losing streak dead in it's tracks. Lately I have not exceeded more than 4 losing trades in a row.
I need to work on my exit if there is anything needing to be tweaked. But so far it seems to work.
Last edited by daytraderjay; 11-05-2009 at 03:13 AM.
The stop loss is a reversal, which can change from trade to trade.
The take profit target is loosely set on each trade based on pivots/S&R. Also, if I've lost more than a few trades in a row, my goal is to hit breakeven, PLUS a small profit (5-20pip past B/E point), then I close the position at a net gain. This stops the losing streak dead in it's tracks. Lately I have not exceeded more than 4 losing trades in a row.
I need to work on my exit if there is anything needing to be tweaked. But so far it seems to work.
For exit I use trendline that is parallel to the previous slope
I have only traded a few hours this week and I'm already +.005% (Half a percent of account).
October 5th-November 5th my return was 6%. I think I can surpass this return. I'm going to attempt to double it up to 10-12%. Nay Sayers step down!! Haha.
My big trade last night was GBP/USD. Not sure what fueled the MASSIVE short, but it was some kind of technical break I hear, as there was no GBP news or USD news at the time of the break.
Took too many trades this week. Account bounced from +.005% to -1% and I kept making errors, like falling asleep at the controls and missing my take profit points. . . .
I can now say one of my worst weeks is behind me, which resulted in NO loss. Completely flat after all the trades I took, except had I not missed the 134 TP on eur/jpy short into thursday morning, I would be UP about .005%.
Oh well, I'm flat. And it's due to human failure, not my system or rules. A person must sleep at times too...
Nay Sayers step down!! Haha.
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