Don4

Went long this morning,stoped out -2%. Pretty good week over all entered 4 trades.won 2 lost 2,total 4% for the week.

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Since im done for the day, i figured i would give some thoughts on this weeks trading so far. Monday started of slow with no trades taken.Tue had a sell signal so entered short hoping there would be a pullback to TP level.Late that evening it came within 7pips of take profit,but it didnt happen.So this would be the first trade that carried into the next day.Wed With tuesday short still running.My next sig is another short, im thinking in my head this isnt the smartest thing to do. But,i had to trust my system and enter another short position (with different ST and TP) it was looking good for a while again it made it down to 7pips from TP on tuesday trade,then exploded up taking out my Stop for wed trade, so now im thinking this is serious support, wow 2 times in a row it made it down to 1.9717 and 2 times it couldnt push through the support!! Today Woke up this morning with tue trade still running and again another signal to sell now at this point im thinking this really isnt very smart, 2 times it couldnt push through support and im entering against the daily trend. 1 time u can get away with it 2 times your pushing your luck but 3 times in a row entering against the trend!!!! Well i just bit my tounge,even though it was against what i learned over the past 2 1/2 years,I had to trust in my system, so with a TP for todays trade at 1.9687 again i doubled up on Tuesday trade against the daily trend!!!! And the end results was TP hit on both trades,Once it pushed down through support it was just a matter of time.

ok well this morning my system gave me another sig to short so i doubled up once again this time it payed off both TP hit. +8%

Tuesdays trade is still in hasnt been stopped out yet, not alot going on might have my first hedge in the morning!!Who knows!!

This mornings trade was stopped out for -2%.Yesterdays trade is stilll running looking for a TP of 1.9710.

Torero, did u see those numbers for the ADP Nonfarm Employment Change!!!

Or,fundimentals:D

Yea,there from technical side prob not the smartest thing to do but i have to follow the signals that my system gives me.

Woke up this morning and yesterdays trade was still active,had another signal to sell so im doubled up, first TP at 1.9710 second at 1.9679. Just have to wait now and see how it goes.

Well ive been into this trade(short) since the early morning hours this is the longest trade ive been in since starting this journal. Ive mostly been outside helping my father with his camper,fooling around with the horses,and yes playing with the kids. Checking the charts everynow and then. Im finding out that finding other things to do helps you from getting to attached to the trade!! (Boredom will make you do some crazy things) Anyway i have a TP of 1.9710 so i guess we will see how it goes!!

ok just checking.

Torero, are u still long?

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Thanks torero,as i said at the begining this is going to be a very slow process and honestly i dont feel a need anymore to jump in and trade just to be trading, if it doesnt come to me then i could careless. You asked me a while back what the maxdrawdown was on my backtesting ,sorry i didnt answer you then, i must have overlooked it but the answer is 8 consecutive losses -16%.

Today there was no trade taken.

Well so far so good,nice trade!!! Have u took profit yet? Or are u still in?

This is a debate that could last forever,they both have good and bad points, but in the end, its what works best for you !!!

Here ya go torero! Pips won- 210 Pips lost- 67 Total pips- +143 Win%- 57%

Ill go ahead and post my excel sheet(max drawdown) at the end of every week. http://www.traderslaboratory.com/forums/attachment.php?attachmentid=1196&stc=1&d=1175298870 MaxDrawdown.xls

Thats it pippy,u win some u lose some.

TP hit +4% Total- -8%

Nice,Pippy23!!!

While driving to work this morning(you guessed it) I was thinking:D I was trying to find something that compares to trading that i have experienced,and i figured it out, hunting. (indicators)Think about it, in hunting u have so many products out there whether it be scents,scent blockers,gamecalls,tracking cameras u name it they got it people buy into these products looking for any edge they can find,if it doesnt work a couple of times they move on try something different.(All the products in the world isnt going to do a bit of good without applying whats written below). Hunting requires alot of patience and dedication,you dont just run in the woods with all your fancy gear thinking your going to kill the state record you may see some deer but getting a shot may be another story,although some people get lucky every now and then: (Backtesting)You have to have dedication, scouting months before season even begins, looking for a good area to hunt to try and almost pattern the deer in that area. Looking for bedding areas,trails,feeding areas scrapes,rubs etc..placing game camras just trying to understand their actions and looking for the best possible location for a stand.(Trade setups) Patience,sometimes u will set from daylight to dark through rain, sleet and snow without even seeing a deer for days or even weeks passing up smaller bucks in hopes that u may see a trophy. Some will take the first shot of the the first buck that crosses their path and always wonder why they can never find that mega buck !!! (Entering the trade)Now that your patience and dedication has payed off and your in a position to take that shot of the trophy buck, not knowing what to expect when u pull the trigger, but u know that through trial and error to even make it to this point is a great accomplishment. Win or lose the outcome doesnt matter as much because you are starting to find your edge. You understand what it takes and once your there ,there is no looking back !!!!!! So with that said i dont chase the markets,i dont even care where it goes i place my limit orders(the stand) and set patiently and wait. I let the market come to me If it doesnt come to me then o'well, there is always tomarrow,i dont care what technicals or fundamentals im trading against although sometimes while in a trade i will watch and see how things play out, it doesnt have any decision on the way i enter a trade. So weither this system passes the test or not, it does not matter i will be thankful for the system i have created, for opening my eyes and giving me a better understanding what needs to be done. As with traders and hunters there are many different types.What works for me may not work for u. Its up to each person to find what works for them ,its not something that can be handed to u on silver platter, its whats within yourself!!!

yea it was from my system,I noticed that flag forming to, i hope it works out for ya, if i do enter a trade today it will be long,so might be another boring day for me.