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Don4

Market Wizard
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Posts posted by Don4

  5. Posted

    Ok, while I was driving home from work today I was thinking, You guys dont know me,u dont know what im up to or anything,there are so many people on the forums that blow hot air,say how much money theyve got and all that good stuff!!! So ill just put it on the line,I have blown 1 account added to that and finished off the rest of it off in less than a week. From that day on I promised myself I would not go live again until i had a decent game plan to follow so here I am 2 years later after jumping on every bandwagon around in the search of the holygrail having more indacators than u could imagine and couldnt even bring a demo account to a positive level.Yes I worked my butt off everyday reading, demoing,and searching. I would stay up till 2am(eastern time) get up for work at 4am go to work and get back on the computer at work for 12 more hours come home and do it all again, the days when I was off guess where I was you guessd it back on the computer.And get this I am married with 2 kids,So was I being selfish, well to me I was determined to make it to give my family a better life.Like most of us here or at any forum for that matter. And then I relized something Why do 95% of us fail at this or anything else in life. Look above even though I was very determined guess what, I didnt have a plan!!! So now Im back with a plan and a very strict set of rules. I opened up to accounts with $600 dollars in each of them because sometimes 1 trade will last longer than a day and the next day I will have signal in the oppisite direction. So do I think Im going to get rich with what I have in those accounts no, its got to pass the live test for at least 6 months before I add to it.So please if any one has any constructive critisism for me let me have it. But there is something that i feel I owe the ones that will help me along on this journey. From the way I place my trades to let u know I am a honest guy here is my statements from both accounts.Look at the dates and times and compare them with my previous posts.

  6. Posted

    Man this one happened quick!!!

     

     

    Short

    Trade#2 +44pips or 4%,-commision

    Total- +102pips or 8%, -commision

     

     

    I know I will catch alot smack for the way Im posting my trades,and I understand,but u have to understand where I am comming from to.

  8. Posted

    Thanks steve for your comments,each trader has to find what works for them this seems to work good for me. Even though backtesting is not a guarantee

    It does help build confedience and it gives u an idea of what to expect. There is only one true way to test a system and that is what im doing now!

  9. Posted

    Torero I do enter my trades manually,no there is no connection to EFX,but the reason I say it is mechanical I have certain list of rules once i enter a trade everything is set from the start SL and TP ,so once im in thats it.

  10. Posted

    Torero, all my backtesting was done on metatrader manually from two different brokers with same results.All my data is on excel, yea I know not very good way to backtest but sometimes you have to work with what u got. I am now using EFX as my broker so I will have to do a little tweaking.instead of sending my excel file i thought it would be better to do this.My win% was 42% at 2to1.and here was my equity curve

     

    http://www.traderslaboratory.com/forums/attachment.php?attachmentid=1126&stc=1&d=1174526592

    LastScan.thumb.jpg.0df450e671deb45789e6da026059c1ab.jpg

  13. Posted

    Well,its good to get that first trade out of the way! Today was perfect, placed the trade before I left for work and by the time I got to work it was closed out for profit. Even though I know this is going to be a long journey I honestly feel prepared this time. I know through backtesting and forward testing what to expect with my system so I just need to be realistic,and stick to the plan.Even though this is a very simple system it could also be one of the hardest,there will be many days where it will be well into profit just to have it turn to take out my stops.(but i know this in advance)I feel very confident that I have put myself in the best position that i could possably be in. I know the losses will come more than the winners and im well prepared for this. So all i can do is take it day by day and focus on the big picture,long term.

  15. Posted

    I would like to start a journal to keep track of my trading. My system is completly mechanical. And there is no technical or fundamentals involved.

    when i get a signal i take it no matter what!!!!! My money management is always 2to1, based on a risk of 2%.So when i enter a trade im in it till SL or TP is hit.I either lose 2% or make 4% of my account for that day.I only make 1 trade a day and some days there will be no trades.with this said here is my first trade with live account for this system.

     

     

     

    Short-1.9622

    TP-1.9564

    SL-1.9651

    TP Hit +58pips or +4% - commission

  16. Posted

    thanks brownfan, i just dont under stand how one made it and the other didnt, although they both looked identical everything was the same except for a few numbers on my account number as far as the paper work goes.the bank that it was wired from is a very small bank from my home town,I guess i'll just have to wait and see

  17. Posted

    well it is hard to tell what went wrong without the rules to your system,but if u have done your home work with your system then in some ways you know what to expect.if u was following your rules for entry and exits then i would say good job the losses doesnt really matter because they will happen get use to it. If u was playing on emotion chasing the market then,stop!! U wont last long doing that. Only u know if u followed your plan or not.

  18. Posted

    Thanks Kiwi,thats what ill do. Im just aggrevated,been trying to get everything set up since last week and here it is almost wed and still nothing,wife on my back about the missing money,just one of those days:)

    Im sure there is a simple explanation for the money not being there(i hope)

  19. Posted

    I recently opened 2 accounts with a certain broker,why 2 accounts before u ask it was for hedging reasons. So i wired money to two different accounts using 2 different wire transfers at the same time.The problem is only one account was funded. I contacted them they said they have not recieved the other transfer for the other account. So what should i do?

  21. Posted

    Sending out positive energy into the universe. A little esoteric for some, but perfect for a guy like me who's ultra into that sort of thing. My biggest hurdle had been my mind. I was scared to death to take trades, and when I'd have my finger on the trigger, I'd just watch as the trade went in my direction. It was awful.

     

    What have I done to fix this issue? I'm starting the week feeling, not just thinking...but feeling like I've already got my weekly profits booked. In the morning, I've already got my daily profits booked. All other trades are bonus! It takes a lot of pressure off of me, even though the pressure still is *really* there to perform.

     

    So, that's how I start each day now. Had my biggest winning day in a while today, which was awesome. (big for me isn't big for many people, though). Just thought I'd pass what has worked on so maybe someone else could benefit.

     

     

    TinGull ever read the Science Of Getting Rich!!!

  24. Posted

    torero, there is a pretty good economic calender at, forex factory its usually pretty quick post results after news.(not trying to promote anybody just thought i would let u know)

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