Final pip count for April 3 is +13 weighted, markets continue to basically not go anywhere, see what happens tomorrow.

jwpdad's Journal

Final pip count for April 2 is +25 weighted.

jwpdad's Journal

No trading again yesterday due to the holiday. I'm in the market today, weird day so far with not much movement on my trades, we'll see what happens.

jwpdad's Journal

As a thought for the weekend, I made this post in the thread "Why Do Newbies Lose?" It lays out a process that I feel most if not all successful traders go through to achieve consistent profits in the markets. Happy Easter to all!

jwpdad's Journal

I believe that newbies cannot possibly fully understand what they are getting into when they first start trading forex, I know I didn't when I started. I did read on forums like this that it usually takes a couple years or more to become profitable. ...

Why do Newbies Lose?

Weighted pip count for the week is +428.

jwpdad's Journal

Pip count -87 weighted today. Overall good week, I am done for the week as tomorrow is a bank holiday in most countries. Happy trading and wishing many green pips to all.

jwpdad's Journal

Hey tgxworld, Things have been going good overall but I have had a few losses today. I am currently risking 2% or less per trade. I will have no more than 6 trades open at any one time, most of the time there won't be that many trades at once. ...

jwpdad's Journal

Thanks!

jwpdad's Journal

Good day today, pip count is +179 weighted.

jwpdad's Journal

Yesterday was pretty much a BE day, EURAUD from yesterday just resolved about an hour ago. The market seemingly wouldn't go anywhere all day. Pip count was +7 weighted.

jwpdad's Journal

I like to keep track of pips in a weighted fashion so that the gains and losses are more standardized. I size positions based on SL and TP levels, my lots on GBPJPY will be less that with EURUSD because I use a wider stop on that pair, so I weight ...

jwpdad's Journal

Thanks, yes it feels good, but sticking with it when it feels bad is the key. All of these trades started with a pretty strong move against my positions, GJ almost hit SL.

jwpdad's Journal

Also I wanted to mention that instead of tracking trades in a series of 20, I will now be tracking results by days, so every 20 trading days will now be a new series, the first day in this series is today, March 25, 2013.

jwpdad's Journal

image Looks like I picked a bad day to reduce leverage. Seriously, it's just one of those days today where the bears are having a field day across the board. I actually set the SL wrong on the EJ short, it also would have been a big winner. ...

jwpdad's Journal

Yes, that is correct.

100 Fold Challenge -> Interested? TEST yourself

100 Fold Challenge contest entry attempt #2: Starting Equity: $102.03 Account Currency: USD Broker Name: Oanda Leverage: Max 50:1 Trade Explorer Link: url

100 Fold Challenge -> Interested? TEST yourself

I would like to cancel my first attempt with this contest and start over. I am employing a different risk strategy which should result in a smoother equity curve with similar growth to what I was having before this past week.

100 Fold Challenge -> Interested? TEST yourself

The key is diversifying the risk to offset the losses with hopefully enough winning trades to overcome them. I have found that there should be some very strong winning days, several good days, some days where everything about breaks even, and a bad ...

jwpdad's Journal