just wanna share with you an honest account of my trading history in my 2-year FX experience.I am not posting MT generated graph because it does not distinguish withdrawal from a loss and a win from adding money to the deposit.
What I did, I exported report to Excell then took all the withdrawals/additions of money out (except for the very first deposit to start from). So here is a pure graph of how I was doing.
Gurus and money makers, tell me - does it look like a normal trading path? where does it lead? Am I getting better? Is yours look different?
Any comments? Picture one is the whole story, two - the last three-four months.
Just waiting for a word of wisdom and support to be honest
is that equity curve if so that's great result, could u share with us your trading system
Forex Indicators Collection
Yes, this is the running trading balance, money "on hand". I had sharp losses in the first 1.5 years as you see, but now I've being doing well, making money and spending them, and I'm uncomfortable as if something goes wrong . So I decided to post it to make sure it is real
My system is very simple. Actually, currently I am working on an indi (a guy is making it for me ) to make it more visual for multiple currencies, MTF-like, and have alerts. Should look very nice and be handy. In a couple of days I will probably have the results.
System is nothing new, 2 MAs, CCI, RSI. As for JMA slope - nice indi - I am planning to use it mainly for 4-1hr timeframe, cause MAs are too slow, and it is quite costly for me on 4hr to be late.
Honestly, I do not have the nerve to quite follow the system. Yesterday for instance I had a clear signal on eur/jpy but instead of following it immediately and let it run, I waited and was left with 80 pips instead of easy 150. Psychology, this is. Once bitten, twice shy. I hate having losses, and can't afford them at the moment for personal reasons.
need to work at it, mate.
I have so much respect to people on some threads here who set far away fibo targets and let prices reach it. When I see more than 50 pips in profit, I become uneasy and tend to grab it and run away
I wish I new it from outset... Well, I do now!
if u dont mind could u share ur template and indis...please....
No problem mate.
As I said I expect to have an MTF and alert indies, but they are not ready yet.
What strategy are you using for Stops?
I'm always interested in the exit strategy than anything else.
i use fibonacci and cci period 30
That's a question of an expert!
MA cross is a simple answer.
But honestly, I cannot formalize it, Kenny. Generally, I use support/resistance on a higher time frame (4hr-1 day). It is (the stop) never is a % of my deposit or a fixed amount of pips. I try to make it logical. Just common sense. And Also I have a pretty strong trust in this Mizuho Corporate Bank, Ltd. London Branch
My normal stop would be an opposite MA cross, again. However, if MA crossed, say, downwards, but price is close to a stong 4 hr support, I will wait and sit with a losing position. Maybe this is TOTALY wrong. Dunno.
SO it is the "gut feeling" rather then anything else.
I know my answer is not satisfactory, but as long as my trading is satisfactory for my wallet, I'm happy.
Attaching a screenshot with my new indy.
Still in testing stage, I will post it later for everyone to use with instructions. I have some "rules of thumb", but I need to formalize them and translate into English before I post it. Don't go away, I will try to do it within a week.
That is a very good answer. Thank you.
I actually find more often that traders with pretty wide stops are quite profitable.
The next question is how do you take profit?
I was going to joke to draw a line across your equity curve to show you are hitting a strong resistance at your current point. So you need to breakout.