Posts Tagged ‘ EA ’

Difficulties.


Trading continues to be difficult for me with any gains quickly wiped out putting me in a loss for the day for each day this week. I’m definitely noticing that I’m exiting trades in poor positions; I’m exiting profitable trades too early and letting bad trades run when I have  a good sense that they’ll hit the full SL. A couple of trades have hit their SL by less than 1 pip then reversed and hit the profit which is always highly frustrating.

Jon left a truly helpful comment the other day; ‘I told you this before but you thought I was being rude, it simply does not work. Trade another strategy.’ He’s talking about TUFXP. I have two problems with this comment…firstly he didn’t say TUFXP doesn’t work and secondly, the comment is of zero use to me.

Family problems continue to worry me and right now trading really is on the back foot. Hopefully a bit of normality will resume soon. Keeping my chin up either way so fingers crossed my luck will turn around soon.

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No pictures..


Yesterday had the look of a horror show for a while as the early part of my day was nothing short of awful. It started off with my morning trade getting to within 4 pips of my target before reversing and stopping me out at breakeven. It went on to hit the stop-loss so at least I avoided an early loss which was a good positive to take out. Drama wasn’t far away though with TUFXP signalling me into a trade around 20 minutes before the UK unemployment rate came out. The trade was around 10 pips profit pre release and the news spiked down nicely and hit the target on TESS so at this point I’m thinking ‘lovely’. However, a glance at my broker shows me I haven’t been filled on my take profit!! I spoke to my broker and they said it was down to the fast-moving nature of the news and they cannot gauratanee an order will be filled successfully. More like they fancied slipping me and avoiding me taking a nice win. I exited at -17 which left a very bitter taste in my mouth but sticking to my game plan I tried my best to forget it and move on but not before having a nice little chunter to myself.

Anyway to cut a long story short, some decent late afternoon trades yielded some nice returns and a good profit was made on the day. I remember using the saying ‘no pictures on a scorecard’ when I used to play golf a lot and it brought a wry smile to my face when looking back on the days events. Speaking of golf, I think Westwood has an awesome chance to clinch the Accenture Matchplay but Ogilvy is looking equally good. The days are flying by despite it being an uphill battle and already the end of the month is closing in. I’ve got a lot of work to crack on with which is keeping my boredom levels down nicely.

Testing


Well, this is really beginning to get to me now. I was looking forward to a fresh week and the chance of making some decent gains but once again, I’ve fallen at the very first hurdle and I’m immediately on the back foot for the week. I cannot express how frustrating this is and try as I might, my positive outlook is diminishing rapidly. How much longer my mental aspect of trading can take of this I’m not sure. One particular strategy on TUFXP is really letting the side down and everyone who trades it is beginning to feel the pinch a little and also the will to continue with it.

It’s psychologically very hard to stay positive when every single week I kick off with a stinker. Perhaps I should avoid Mondays? Not much else to say really, moral is low, bank is low..

Scrappy


A pretty topsy turvy end to the week yesterday with no positive improvement made. However, I was pleased I managed to scrap back from a precarious position after a very rocky start to the day on GBPUSD. Some insane and awful pinbars made for an ugly morning but thankfully it settled down nicely and I was able to regain most of the earlier losses. I’m still clinging onto the hope that I can find a good pattern and begin on the road to profit..

On the EA front, I’ve added two myfxbook graphs on the right hand side of the blog. They are both very aggressive settings and I’ve also opened two other demo accounts running on a much more reasonable level of settings. As you can see, the gains over 2 days have been nothing short of astronomical but I am positive such gains cannot be sustained without heavy drawdown on these extreme settings. However, my thinking is this; withdraw your initial deposit and then tone down the settings so you don’t have to worry about losing any of the initial deposit. I’m going to run it for another 3 weeks before deciding on which strategy to run with.

Anyway, I best leave it here as my wife is currently having an absolute fit that I’m idling time away on the computer on Valentine’s Day Eve!

Steady, steady…bang!


There is a definite pattern forming to my balance on myfxbook with a big decline followed by 3 or 4 consecutive, solid days. Rinse and repeat. My goal is to eliminate those horror days and get back to a sense of normality and a good equilibrium. Although with the way the currencies are going at the moment, it seems to be matching my trading. Bursts out of nowhere are wreaking havoc but thankfully today, I was on the right side of several good moves. TUFXP has been a little quiet of late and the general consensus is it’s a little off colour at the moment but a few of my strategies are holding their own and sticking their neck into okay profit. The new release of TUFXP shouldn’t be too far away now.

Many thanks to the kind people who left comments and also to those who emailed me some useful documents to help with my confidence issue and I’ve certainly taken a lot in the last few days. It’s a real rollercoaster at the moment with one day feeling like I’ll never make it and then the next day I’m on a high. I’m going to try to separate myself from these emotions and view everyday as a business day like I used to.

I’m trialling a new EA at the moment and I’ve got 30 days to decide whether or not to proceed with it. I’ll make a few worthy comments in the next few days once I’ve seen it in action and got a feeling for how it works.

I’ve enjoyed reading Cassini’s blog of late, he has an excellent mix of interesting stuff and a good sense of humour about his posts.

Ding dong


Well Tuesday was an absolutely biblical battle! At one point I was down 13% and then the recovery kicked in and by the end play I was even stevens for the day. GBPUSD yet again messed me around in the morning with two losing TUFXP trades and as what seems to be the norm for January, the late afternoon provided the fireworks that got me back on track! Perhaps TUFXP doesn’t like being stoked up in the morning? Whatever the case it did perform a nice recovery on EURJPY and GBPUSD.

I’ve been busy doing some reading on trading psychology and the effects it can have on you. With TUFXP, when a trade reaches 90% of its target I usually like to move the stop to breakeven to stop any disaster reverses in price. Lately however, trades have peaked at 90% before going deep into loss before climbing out of the hole and scooting back up to full scalp. If I’d had my stop at breakeven I’d be missing out on 10%. It happened last week with the news, I got stopped out before it zoomed up. Anyway, the point I’m trying to get at is this; turning a winning trade into a losing trade can have greater impact psychologically than you might think. If you’re trading a strategy, do some serious research on results and see whether actually moving your stop is beneficial or hindering you.

I’ve removed a couple of blogs due to one of them being stopped and the other being very slow to update and a boring read! So I’m on the hunt for some interesting blogs again…

I wonder if today will be any calmer? Time to find out..

Bloody and bruised


I have to say I’m incredibly pleased to see the back of this week trading wise as it’s been absolute torture and unbelievably frustrating. My Dubai strategies suffered a bad week this week with not a lot going right for the trades and as soon as they were triggered on GBPUSD they generally retraced almost immediately to the stop-loss. I’ve not seen GBPUSD be so twitchy in a long time. Whilst I’m a little downbeat with the results, I do know that these things can happen and I’m sure it’ll happen again and it might even be next week! The key is to stay relaxed and smooth and stick with the plan and just let the markets play out. However, I have noticed a very particular pattern this week with several of the losers and it’s something I’ll be keeping a very close eye on to improve efficiency. You can keep up with results here.

So a disappointing week but I’m already looking forward to renewing my battle with the markets come Monday. My thirst and desire to improve is growing daily and I’m deeply enjoying the challenges that I come up against despite when I come out with a bloody nose so to speak.

Just a little reminder for those who have purchased either of my e-books about the offer of receiving your investment back by writing a trading article before 31st January.

Well I’m signing off for the weekend as my dog has again managed to chew my power cord for my laptop so time is limited! If anyone has any tips to stop a demented dog chewing everything in sight, suggestions are welcome! Oh and I thoroughly recommend the new Guy Ritchie movie, Sherlock Holmes.