It's Just a Game

[1pipatatime 10]

I have decided to keep a journal here of my trading results.

 

I will be trading the GBP/USD pair.

 

My method for this game is based on scalping.

 

I am trading with a good friend and we are doing this basically for a bit of a laugh, to see what can be accomplished with this system that we have started using.

 

I will be posting results after the trades are complete as I will be focused on the trades.

 

All trades will be posted in GMT and in USD.

 

And yes these trades are live trades.

 

Today we decided to start off with 1 mini contract.

 

Margin used for this was $23.47 USD giving us $1 USD per pip.

 

Trade 1

 

Entered long at 02:28 hrs at 1.69529

Exited at 1.69755 for a profit of 22.6 pips or $22.60 USD

 

Trade 2 (this trade was against the trend)

 

Entered short at 02:57 hrs at 1.69621

Exited at 1.69608 for a profit of 1.3 pips or $1.30 USD (thats a big trade lol)

 

Total profit for the day was 23.9 pips or $23.90 USD

 

Trading for the day was stopped due to a death in the family.

 

Will be back trading tomorrow.

 

cheers

 

1pipatatime

[1pipatatime 10]

Sorry for not posting but I went place's asking questions about the purpose of life etc after my uncles death, (he was a father figure as my real father left when I was a young lad).

 

Got back into it tonight and traded a modified version of the system and here are the results.

 

DEAL Closing trades 25/08/09 Spot FX GBP/USD - 1.63981 $ +10 1.64268 $2,870.00 being 28.7 points

DEAL Closing trades 25/08/09 Spot FX GBP/USD - 1.63941 $ -10 1.63938 $30.00 being .3 points

DEAL Closing trades 25/08/09 Spot FX GBP/USD - 1.6382 $ +10 1.63955 $1,350.00 being 13.5 points

DEAL Closing trades 25/08/09 Spot FX GBP/USD - 1.63941 $ -10 1.63746 $1,950.00 19.5 points

 

For a total of 62 points

 

This was just a practise run to get back in the groove after so long.

 

Will be at it tomorrow.

 

Cheers

 

1pipatatime

[JBWTrader 10]

Sorry to hear of your loss 1pipatatime.

 

take care

Best

john

[1pipatatime 10]

Thanks for your message JBWTrader.

 

Back to business re-configured the trailing stop technique which kept me in the trades alot longer (better managed trades), also added a new technique to identify the trend which strengthened the entry system and the results down below show that the system is producing better and safer results.

 

 

DEAL Closing trades 26/08/09 Spot FX GBP/USD - 1.63294 $ -10 1.63059 $2,350.00

DEAL Closing trades 26/08/09 Spot FX GBP/USD - 1.63187 $ -10 1.63233 $-460.00

DEAL Closing trades 26/08/09 Spot FX GBP/USD - 1.63207 $ -10 1.62881 $3,260.00

DEAL Closing trades 26/08/09 Spot FX GBP/USD - 1.62884 $ -10 1.62466 $4,180.00

DEAL Closing trades 26/08/09 Spot FX GBP/USD - 1.62569 $ -10 1.62551 $180.00

DEAL Closing trades 26/08/09 Spot FX GBP/USD - 1.62587 $ -10 1.62395 $1,920.00

DEAL Closing trades 26/08/09 Spot FX GBP/USD - 1.62529 $ -10 1.61837 $6,920.00

 

For a total of 183.5 points bloody hell didn't realise it was that much, I was just focusing on executing the system to the letter instead of over thinking and judging the system. Cool.

 

 

Will be teaming up with my trading buddy tomorrow and aligning on a new game and will share the game plan when finalized.

 

When designing the new techniques I found myself being attached to doing it my way and was only able to let go of this point of view by anwsering the following questions;

 

What is it that has me stuck in this situation?

What do I have to let go of to move forward with my trading?

What do I have to take on to have this endeavor become successful?

What are my strengths as a trader?

What are my weaknesses as a trader?

What worked with the trade?

What didn't work with the trade?

What can I do to strengthen the trading system?

 

I think that was all the questions I asked of myself, If I remember that there was more I will post them here later on.

 

I'm pleased with the results tonight and hope they continue.

 

Cheers

 

1pipatatime

[1pipatatime 10]

Sorry for not posting after trading last night but got side tracked with skype conversation.

 

Only did 2 trades last night as the trading platform crashed and as above got into a who your being conversation.

 

DEAL Closing trades 27/08/09 Spot FX GBP/USD - 1.61977 $ -10 1.61815 $1,620.00

DEAL Closing trades 27/08/09 Spot FX GBP/USD - 1.61831 $ -10 1.61731 $1,000.00

 

For a total of 26.2 points unfortunately, need to keep focused on the game at hand.

 

Got into a conversation about trend and started over thinking again and when I looked back went oh bugger.

 

Will post tonights trades and possibly the game the two of us are going to play, might post the later tomorrow when I have more time will see.

 

Cheers

 

1pipatatime

[1pipatatime 10]

Very tempting to start over thinking again but presenced myself to the indicators and worked the system.

 

Trading results for the night

 

DEAL Closing trades 28/08/09 Spot FX GBP/USD - 1.63294 $ 10 1.62705 $1,760.00

DEAL Closing trades 28/08/09 Spot FX GBP/USD - 1.62765 $ 10 1.63051 $2,760.00

DEAL Closing trades 28/08/09 Spot FX GBP/USD - 1.62819 $ -10 1.62821 $-20.00

DEAL Closing trades 28/08/09 Spot FX GBP/USD - 1.62790 $ 10 1.63233 $4,430.00

DEAL Closing trades 28/08/09 Spot FX GBP/USD - 1.63040 $ 10 1.63255 $2,150.00

DEAL Closing trades 28/08/09 Spot FX GBP/USD - 1.63259 $ 10 1.63300 $410.00

 

For a total of 114.9 points.

 

Trade 3 was a stupid thing as I went against the trend and was very lucky to get out only .2 pips down.

 

Had enough for the night and will be back Monday to start the game off next week.

 

Our aim is to make 100 points a day and after each 100 point target has been reached we intend to double the amount of contracts starting with 1 standard contract.

 

After we have achieved our goals of averaging 100 points a day for 2 weeks we are going to reward ourselves with a holiday drinking black russians by the pool and may be a bit of sight seeing.

 

cheers

 

1pipatatime

[ekshay 10]

1pipatatime, I really like your posts, and just saw this journal.

 

Could you share a screenshot, or maybe just the core philosophy of your scalping method?

 

Cheers.

[1pipatatime 10]

Hi everyone just to let you know where I'm at,

 

I have not run away or anything but I noticed the system I was using had a flaw in it so I have been working on correcting the flaw and have been back testing the sytem and also live testing the adjustments to the system and will be posting here again soon.

 

I hope everyone is doing fine and trading well.

 

cheers

 

1pipatatime

[hunnybunny 10]

Hello, 1pipatatime, i'm new to the forum and trading. I just stumbled across your thread today and think it's great. Great to know you haven't vanished. Thanks for starting this. Welcome back and i look forward to seeing more from you

[1pipatatime 10]

Hi Everyone,

 

I have been enrolled in starting a private group in the invite only section, I can only guide a few people at a time as trading is not only about having a trading system that works but also preparing your mindset for trading as well.

 

The trading system that I use is complicated unless it can be shown and explained in person and then after a few weeks or so (depending on the individual) it becomes more simple.

 

So I wont be explaining how my system works here on this thread.

 

The people in this group have been shown how the system works and once they don't need my support anymore I may take on a few more if I feel up to it.

 

I hope you may learn something from this thread and feel free to ask questions and I will answer them if I can.

 

I will start posting my results again soon I'm just having a little break after a busy few month's.

 

I may post some of the material that comes up from the other thread (pyschology wise) but only with the other person's agreement.

 

P.S I'm not looking for people to teach as I have enough people knocking on my door already, so please don't be offended if I say sorry I'm too busy at the moment.

 

Cheers

 

1pipatatime