RCRT2

[humblepeasant 10]

I was considering posting some charts to thalestrader's "Reading Charts in Real Time" thread, but instead of adding more bloat to that thread, I thought I'd just start a new one. 

This post is partly a test to see if my posts still require moderator approval due to my relatively "new" account (it's not that new, but I haven't posted much)...approval can take days, which would sort of defeat the point of posting in "real time."

I'll post my "plan" tomorrow (Wednesday), then begin trading/posting on Thursday.

Maybe some others will join in the fun!

[humblepeasant 10]

Good news is my posts no longer seem to need moderator approval!

Beginning tomorrow, I will be day-trading two currency pairs: EUR/JPY and GBP/USD. I'll trade during the morning and afternoon hours, New York time. 

I'll be using an Oanda "core pricing + commission" account. I plan to trade a "practice account" through the end of January, then a small "live" account beginning February.

I've set my charts up to closely resemble the format popular in the RCRT thread (NinjaTrader + MetaTrader). My trading style will primarily consist of what I've learned from that thread. I'll track my performance in terms of R-multiples. 

The purpose of this thread is just for a little fun with some bonus accountability. I've got nothing to sell/teach, and I will probably lose money! 😁

[humblepeasant 10]

Potential EUR/JPY short

[humblepeasant 10]

Nice way to start! Don't get used to it haha. Netted 2.28R. However, I made a mistake with my position size calculation and accidentally only entered at 91.4% of the size I intended, so based on the actual risk rather than the intended risk, this trade was about a 2.5R winner.

[humblepeasant 10]

Whoops, I've basically neglected this thread and trading this week so far. I will fully trade/post Thur-Fri, just like last week. Then next week, I will attempt to trade/post Tue-Fri. Doesn't really look like I've missed much this week anyway. Here's hoping the next two days produce some opportunity! 

[humblepeasant 10]

Welp, I actually haven't managed to get any trading time in at all since the trade I posted Jan 24! I will 100% sure be able to trade the full days the next two days, Thur-Fri. Hopefully there'll be some good opportunity I can trade/post! I'm hoping/determined to post something this week to get this thread/project going again!

[humblepeasant 10]

Potential GBP/USD long

[jfw215 11]

its so tough to stay consistent! are you still doing it? I stopped for awhile and thinking getting back in. 

[landorra 3]

I'm also interested. Can you please update info?

[zdo 20]

Landora

This thread illustrates a couple of things that humblepieasant hopefully/probably learned

1 day/short term trading is for the few, not the many.  Finding systems that optimize win rate with risks is formidable.  Finding such systems that are also self compatible is exceedingly rare.

2 posting is expensive.  ie It really doesn’t pay short term or long term to give if you don’t got...

3 the need for the kind of “accountability”hp mentioned above is - in a word - transitional.  ie Accountability needs to be turned and referenced inward instead of spread outward...

4 hp would have been much better off trading “a small "live" account through the end of January, then a small "practice account" account beginning February, ... then back live.

...

1 Don’t just look for an edge.  Look for an edge that is also true to your nature.  If an edge is not true to your nature, you will still never be able to make it work consistently.

2 Post what you are learning and see.

3 Post what you are trading and see.

4 See.  ... maybe decades later...

All the best

zdo