sicktrader

Nice to see quite a few positive days amongst us this week. My trade on the GDP was a 20pt +$250 winner. Might have another shot at 9:55, otherwise I am done for the week.

Finally, a trade. In long on the Euro at 3323, target is at 3343. Not the big target that I was expecting.

No problem with Global here, would advise them to anyone. Since yet again I didn't have a trade overnight, it appears that my entire week will boil down to the GDP news at 8:30. With news like this I still have a good chance of doubling for the week, but the same probability of having all my profits wiped out. Time will tell.

I have a $900 margin for the Euro and Yen, then the others are much smaller. Think the CAD and CHF are only $500, and the AUS is somewhere in between. I don't trade the GBP since it doesn't fit money management wise - $900 margin for $6.25/point. Yes, I use that $900 as my floor. I am allowed to run trades way under it, which I'm sure I will at some point here, but I can't start a trade below my margin. The set-up determines my stop, and sometimes they can be quite large. While I don't know for sure how much I will lose on each trade until I see the set-up, I do know what my average loss has been throughout history. The $400 spread should give me at least three trades (sometimes 2 or 4) before I would need to drop back in contracts. I do not advance contracts during the week. The number of contracts I start the week with, is what I will end the week with assuming a winning week. However, I will decrease the number of contracts as I fall under the margin requirement. So, with a max of three trades left for me this week, it will be difficult to get to $2,600 this week. If that is the case, then I'll just ride 1 contract for next week too. So, no, it is not automatic that as soon as I hit the level I increase the contracts. I suppose it can be, but I know my average number of winners and losers in a week, and I don't like to have my winners be with 2 contracts and my losers be with four contracts. I would rather just win for the week. Hope that provides some further insight. Nice work everyone.

Hope you get better. I don't get migraines but I do have severe TMJ, which results in headaches, neck and shoulder pain among other things. Had a nasty headache this am, but it went away with enough Advil. I should have stayed in bed as well, my system this week is like watching paint dry. If I wasn't in this contest I would have probably screwed around a bit in this account. Hoping for a few more trades within the next 24 hours.

Here is my overnight statement. I had no trades during the night, and none scheduled the rest of the day. As such, no need for me to show a statement on Friday as it will be unchanged for me. This has been an unusually slow week for my system.

On another note, one thing that has always pissed me off are those people saying that "if you double every two weeks you would be a billionaire in blah blah blah". Well, I don't perpetually increase my account. I have a base, I double it, then I cash out, then do it again the next week. I also have a reserve fund ready to post up when I have a big drawdown, which happens a few times a year. I know what I need, or want, to make each month, and I make it. This isn't that difficult.

Well, I don't want to get into details until I have proven something. At this point, I am fine, as I needed to get by $1,300 to reduce the risk of blow-out to single digits. The next step will be to add another contract at $2,600, then every $1,300 from there. In my 20 week goal I assumed doubling my account every two weeks, but my average is better that. I also have a reserve fund, built from what I take out of my account, to use when I have a bad week, which does happen. I have numerous expected trades before the end of the week, so I'll just wait and see how that plays out. I'll stop for the week if I get up 100 to 120 points, which would mean I have doubled. Up 45 points so far, so one or two trades could get me there. Then again, I can lose 50 in a day.

Ha. I used to work for a living, then came the great housing collapse. Placing big bets in California and Nevada didn't pan out well. Now I just go there to get away from the house and take calls from all the banks that I owe. Thanks for the slippage.

Thales, One small rule change request. On Tuesdays and Thursdays I take my 3 year old to pre-school, and don't get to the office until say 9:15. After the greetings and such at the office, I am running very close to 9:30 by the time I get to my desk. I would believe that others may have a similar problem. Can you change it to 10:00, or allow for a little slippage. Thanks.

That was fast. Out +28 pts +280 on the trade. See you tonight.

In long at 9890 on the Cad Dol. Target is set for 9918.

Expecting to catch a trade on the Fed release. I hope, slow week for my setups.

My first one was a winner which will lower my chances of having to post up more cash. +170 for the day (less commish) so far. Won't have a trade until the Fed announcement at 2:15. Good luck to all.

Finally got into a trade. I know we don't have to post live calls, but I have nothing better to do since I am watching it. In long on the Aussie at .9142. Initial stop is at .9117(may be moved up), target is at .9159.

Thales, what a fine job, can't say it enough. My statement in the AM will remain unchanged, as I painfully stood on the sidelines for that 200 point move on the Euro. Things should be moving for me tonight though, hoping to ride the Aussie for a bit starting in a few minutes. PS. I actually have another $.31 in there but for some reason RCG doesn't show cents on that page, only on the daily statement that they email to me.

What sources do you guys use for the news. I use dailfx and forex.com, and verify us news with econoday. Thought that there may be better out there.

Here is a snapshot of my account showing $941 and no open trades. Good luck to all invloved. From now on I will copy my daily statement, but since I didn't trade on this account yesterday none were mailed to me.

I have done it, a few times, and expect to do it here at TL along with others. Must say that at this point the IRS has pretty much all of that (taken by force), but more to be made. Would be nice to have a few more traders in this. Anyway, see you in the AM.

Could anyone please help and provide detailed instructions on how to add an attachment here, I can save my screen shots, but what is the code to attach them? Would rather print them out, wipe off my name and account number with a marker, and fax them to a pdf. Please let me know.

Well done Thales. Certainly put a lot of thought and effort into this Race. I am in. I have $941.31 in my account, and will forward you all necessary documents in the AM. I am usually posting under the influence at night, so I promised myself that I won't post after 8:00 PM, since my posts after this time have fed many of trolls. I normally might have a trade around 2:00 am, but since I am so close to margin I'll wait till around 9:00. Since it is after my self imposed posting cutoff, I would rather not go into any methods or such, as it takes me a while to type this reply. I will be there in the AM, perhaps a trade in the bag or perhaps not. I wish all who participate the best of luck. You will need it if your money management skills aren't at their best. Again, Good luck to all, and hope to see you in Vegas.

Welcome. I believe that sometime this evening Thales will be opening a new thread, and as of midnight you can fire away. Good luck.

Thales, Never promised anything other than my perspective on money management. I hit this about 35% of the time, so wouldn't promise anything. I will reach the 1 mil mark, I expect within 20 weeks, but I haven't made that guarantee.

Hoping for more participants since it will be in good fun. It will be a long journey, so missing a few days won't hurt.

Actually was just kidding around and thought the Steelers were horrid in all picks except for the 1st. Can't stand Ben anymore. In fact the niece of my good friend was dating him, but only lasted a few months. She kept saying why couldn't it have been Sid Crosby in the VIP lounge. She is very hot, I'm thinking of a way to get her on Rome is Burning, then setting her loose on a VH1 reality show since while hot she has trailer park tendencies. But back on topic, Steeler Nation is turning against Ben in a big way, though I'm sure when he throws his first TD pass I'm sure all will be forgot. With his suspension, 8-8 is the best I can hope for. Steelers went for a bunch of those 5'8" receivers, they always work out well.