Don4

I would just like to say that while i post my journal (for u that are following)the way that i trade and my thought process is not for everyone it is only what feels comfortable to me. If you trade a different way great in no way am i saying that i am right and u are wrong ive only been in this live for 3 days (other than my blown account:) ) there are many skilled traders on this site with different opinions than mine and i dont want anyone thinking that i am trying to take away from them with what i post.

well i have three days under my belt now with two perfect trades not because they were winning trades but because i stuck to my plan,but after analizing todays trade i found a problem that could have cost me big time. i will not sugar coat any thing I will tell every mistake that i make (as well as i can remember) during this process and if you see anything else let me know!!! here was my first mistake. I got my signal i was ready and waiting just a few more pips ,i was pretty calm ok (buy) i was following my plan to a tee (order rejected) im thinking in my head what just happened i hit buy again(order rejected) so price went above and turned back down 1.9652 im thinking in my head great i can get in at a better price with less risk but i got to be quick this is where i made my mistake!!! so i reclicked my quotes, so i could place my order (market rejected) and that was it. so what was my mistake? later on i realized i had no stops in place on my third trade.wow, i broke one of my main rules and didnt even realize it! yea price went back up and it wouldnt have heart me but it could have just as easly went down. so i was really lucky today and it was a free lesson, in this big world of forex a simple mistake like that could cost ya big time.

No problem, I figured some would find it handy.

Ok thanks torero ,thanks soultrader tingull already posted it.

K,thanks tingull

What is the rules on posting links,I have found a site that some people could benefit from.

Ok I have a question,is it common for order rejects on ECN? There wasnt any big news going on, the spread was even,the market was hardly moving at the time I tried to place my order. Just wondering.

Ok just got to work checked the highs,looks like it made a high of 1.9690 so I would have been stopped out, but I still wish the order would have been accepted :mad: So for now Im done till next week!!!!! Today-No Trades Total- +102pips or 8%, -commision

ok lets see my TP would be at 1.9693 ST 1.9642 lets see what would have happened

I never expected this out of a ECN:rolleyes:

Wow funny thing,been trying to buy at 1.9659 but the order keeps getting rejected all the lights are green but cant get my order out!!!

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=1130&stc=1&d=1174616184My Pictures.zip

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.

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.

WoW,Great thread!!!

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!

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.

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

12hr shifts and the 1hr drive home is a killer:D

Torero,im at work now ill post it as soon as i get to the house.

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.

The broker just contacted me and the money was just funded in my second account,thanks. So im good to go!!!

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

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

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.