The Legend of The Gambler - page 24
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I'm done manually trading the Tortoise account this week.
There are a few open trades from the RAS service, but it looks like it is hedged pair so if there is any kind of loss, it should be small.
The Tortoise account is comfortably above $10K unless something disasterous happens today or tomorrow. So that would be another +14% increase based on last week's ending equity. I don't think I can keep this up, it is mentally draining.
hello
hello kenny
ahh fishing....intresting..some people say thats something which calm the emotions down...i cant image but maybe its true.. i like your patiance you have in writing this thread journal here. Mostly out is very nerveous and quick.....so you said you need more patiance...well we all need...but im sure you have also alot of patiance yet...however good fishing
regards lodol
^ Thanks, Radatats.
I've been trading manually more and more. There is some stuff going on personally, so there are some distractions at the moment. It has made me realize that I need to work and change myself. I need to have more patience in life, and pay more attention to the people that are closest to me. I also talked with a buddy to get some perspective, and the advice was to spend some money for the hell of it and splurge every once in awhile to blow off the steam.
I will be going fishing this weekend. I bought my annual fishing license at the sporting goods store, and I plan to go fishing more often in the future.
I've been scalping the market lately. Taking a couple pips here, a couple pips there...just taking what little I can get. I think the economic times has even influenced my trading since I see so much desperation and unemployment on the street. I also see that patience is key to getting maximum gains, you sit there and wait for the fish to come.
Some people are always talking about trading their account to 1 million dollars, which is some mythical golden standard. I figured that if I take $20 chunks per trade, and I do that successfully 10 times per day without a losing trade. And if I trade approximately 250 days per year. It would take me 20 years to make a million dollars BEFORE tax. LOL. Some people just don't realize how big a number 1 million dollar is until they put real money on the line to try to make it.
Anyways, I'm hitting singles and bunting. Slowly chopping away.
On my manual trades this week (Tortoise Account, Mini, 200:1)
#) lots x pips ($1 per pip)
1) 4 x 15 = 60
2) 4 x 38 = 152
3) 2 x 18 = 36
4) 2 x 73 = 146
5) 2 x 17 = 34
6) 2 x 21 = 42
7) 2 x 53 = 103
8) 2 x 18 = 36
9) 2 x 30 = 60
10) 2 x 19 = 38
11) 2 x 11 = 22
12) 2 x 16 = 32
13) 2 x 15 = 30
14) 3 x -68 = -204
15) 2 x -44 = -88
16) 2 x 15 = 30
17) 2 x 106 = 212
18) 4 x 89 = 356
19) 3 x 68 = 204
20) 3 x 10 = 30
21) 3 x 10 = 30
22) 2 x 21 = 42
23) 2 x 12 = 24
24) 2 x 18 = 36
25) 2 x 50 = 100
I'm just trading the range, putting trades in the middle of the range and letting them go. It's amazing how many times they get hit, and I just wait until there is a little bit of movement, and I close them. The price will move back again, and I'll just keep putting the same trades back on. Fishing the same areas over and over again.
I fear that one of these days, if my personal stuff spill over to my trading, I'll just go full tilt and trade some serious size to blow off the steam. Right now, I'm just slowing easing back into my routine.
NOTE: I have also been trading the account with my own manual trades, so this Tortoise account (how fitting!) increased $200 from the RAS signals and I also made about $900 on my own manual trades. The equity for my Tortoise account is now sitting around $8 8XX xx. (So that's about a +14% increase)
OK, it's Friday, and I'm not even going to look at the charts today. There is 1 more open trade left from the RAS signal service, and it shouldn't be a problem. All of my manual trades are closed. Done for the week, honestly, no more.
Let me go tally up all the little singles and bunts on the Tortoise account.
My manual trades comes out to be about +$1500 for this week. My equity is approximately $10 7XX.xx. (So that's about a +21% increase from last weeks total)
I just want to point out that 1 or 2 bad trades on my style can wipe out your whole week's gain. It happens from time to time if you hold and the price goes against you, especially those price action where there are no retraces. You just have to eat those. You also have to have balls of steel to hold in the face of mounting loss, and know when to take the profit and run. You have to always remember that you can always get back in later.
Update: The last RAS trade closed in a loss. So my account is actually ended at $10 6XX.xx. No biggie. There are no open trades, which means I don't have to worry over the weekend and can enjoy my fishing trip.
Came back from fishing today, and I didn't catch any fish. It was a real bummer. Not even a single bite, and I was out there for about 6 hours.
Anyways, I'm tired as hell, and it is back to trading.
So I'm putting out some fishing lines on the charts instead.
I'm putting a pending sell limit on 4 minilots of the GBPUSD to sell at 1.4075 with a target of 1.3914, no stop loss. Normally, I'll set a target profit, but most of the time I'll close the trade manually for smaller gains quickly.
The price of GBPUSD is at 1.4024, so there is plenty of time before anything happens, and this trade will be cancelled if the price action comes in unfavorable.
But most nights, it is just like this, put the lines out there, let the trade hit and take the singles and bunts.
/chuckle
The RAS signal is putting on a stradle on the Swissie. I get a kick out of that.
I put in more pending orders for fishing, but it's too much trouble to type, so I'll just attach a picture. Now, it's just sit back and wait.
I'm putting a pending sell limit on 4 minilots of the GBPUSD to sell at 1.4075 with a target of 1.3914, no stop loss. Normally, I'll set a target profit, but most of the time I'll close the trade manually for smaller gains quickly.
The Pound trade just got triggered. I'm going to take a shower and see how this comes out.
The trade was up $100 at one point, and now it's down -$28. Hmm...maybe I should have just closed it quick. I think this is one of the hardest aspect of trading...when to close or when to let it run.
Adding another pending sell limit order to 1.4187 for the Pound. Going to bed.
Both GBPUSD sell trades had triggered last night, and I just closed both of them in profit. I'll post the blotter. I think I mistyped the sell limit order from the post above, as the new limit order for GBPUSD is at 1.4157, not 1.4187. But the 1.4187 would have triggered as well, and made you another $90.
Both EURUSD sell trades triggered as well, those are still open. I went ahead and cancelled the pending buy trades on the EURUSD as they were unlikely to be triggered.
So here are the 2 Euro trades that I have open from last time.
As you can see, I'm in a bit of a drawdown, but since my GBPUSD trades were profitable, now I have more room to play with. I can simply close these and still make a good total profit from all of the closed trades. So mentally, it is already a load off of my mind.
Now, here is what I like to do when I have multiple trades on the same pair going on. And some of the trades are in profit, I would lock in the small profit when it gets to like $30-$50 on 1 profitable trade...then immediately reset the pending order from the original spot. This way I lock in the profit by scalping it, and if the market moves away from me, then I get the same trade but with a little profit already locked in.