FX_Cowboy

I have now completed my first series of "real" trading with this setup and trading plan. The results continue to indicate that the setup has an edge. Given my present circumstances (working full time with occasional but increasingly frequent travel, and a demanding work schedule), this trading plan -- trading a single setup only a couple of hours a night -- is probably the best I can do for now in terms of reaching my goal to trade professionally.

I've loaded my charting...

Based on my results in the Backtesting and Paper Trading series, I decided to up my trade size somewhat and see if I could duplicate my results. While I cannot claim to have had the same results as during my Paper Trading series, the results so far indicate that the setup continues to be profitable over time. Overall, I continue to be satisfied with the results, although there was an anomaly in this series that may have affected the outcome.

For the first eleven nights of trading,...

Here are the backtesting results I have so far:

# Trades: 37
# Wins: 28
# Losses: 9
W/L %: 75.7%
Avg. Trade Size (Pips): 17.6
Avg. Win Size (Pips): 18.1
Avg. Loss Size (Pips): 16.2
Pips Won: 507
Pips Lost: 146
Net P/L (Pips): 361
Maximum Losing Streak: 3
Maximum Winning Streak: 7

I think these results look pretty good, although they are a bit worse than the results I have obtained...

It's the end of what has been a busy week for me at my "day job". More importantly, last night was the last night in the paper trading series I had laid out for myself (my "night job"). I had decided to paper trade -- at least for an initial period -- for 12 days. This matched the number of days I had paper traded in my last experiment.

I am quite pleased with the results of this trial period. Here is a summary:

# Trades: 23
# Wins: 21...

This blog is a resumption of a journal I initially started elsewhere, the intention of which has been to record my progress toward becoming a professional trader.

I have been working at this for quite a while -- at times in a fruitless, directionless kind of flailing about, but more recently in an organized, more scientific process, which is starting to yield some results.

The more useful course has been guided by the writings and always helpful advice of DbPhoenix....