Several posts ago I alluded to the fact that I'm working on two systems concurrently. I'm not yet ready to post the details of the second system yet, but I wanted to post a few screen shots to show a few of the great trades that I've been in on ...

Bytebodger's Pip-Burning Journal

Actually, I would appreciate some clarification on "lot allowance". Do you mean that you have a total lot allowance for each position - regardless of how many positions you already have open? Or do you mean that you have a total lot allowance for ...

Bytebodger's Pip-Burning Journal

This is great feedback. To be honest with you, almost immediately after making my "command decision" last night, I realized a shortcoming of this approach. Last night I had three trades going - AUDNZD, EURCHF, and USDJPY. Now, according to my new ...

Bytebodger's Pip-Burning Journal

OK, I've made a command decision on this one. I have 19 different pairs that I monitor for trades. I don't necessarily want to trade 19 pairs simultaneously, but I prefer to monitor a greater number of pairs because I feel that I have a better ...

Bytebodger's Pip-Burning Journal

Thank you for your response! I'm definitely not ditching this, but as you'll see from my subsequent post, I'm actually working on a few systems simultaneously. Some will probably see this as a sign that I am foolishly chasing systems, but I see it ...

Bytebodger's Pip-Burning Journal

I didn't post any trades today because last night was absolutely horrible. I went to bed late and before I did, I saw a number of perfect set-ups coming into play. So I had about 8 different pairs running as I fell asleep and I set my alarm to get ...

Bytebodger's Pip-Burning Journal

In analyzing yesterday's results, I have gained some more insight about the question of how many lots to open and when to close them. I was originally wondering if there is any benefit to opening two lots and closing one when it had reached a small ...

Bytebodger's Pip-Burning Journal

Trade update (new trades in bold): Buy 2 NZDUSD @ 0.7391, SL @ 0.7363 = closed @ 0.7391 (-34) Sell 2 AUDCAD @ 0.9212, SL @ 0.9220 = stopped out @ 0.9215 (-6) Buy 2 EURGBP @ 0.6840, SL @ 0.6836 Buy 2 EURUSD @ 1.3545, SL @ 1.3539 Buy 1 CHFJPY @ 98.75, ...

Bytebodger's Pip-Burning Journal

Trade update (new trades in bold): Buy 2 NZDUSD @ 0.7391, SL @ 0.7363 Sell 1 USDCAD @ 1.1088, SL @ 1.1070 = stopped out @ 1.1070 (+18) Sell 1 GBPUSD @ 1.9800, SL @ 1.9800 = stopped out @ 1.9800 (+0) Sell 2 AUDCAD @ 0.9212, SL @ 0.9220 Buy 2 EURGBP @ ...

Bytebodger's Pip-Burning Journal

Yeah, I have a 6-pip spread now. Like I said, I wasn't worried about it - I knew from past experience that it would tighten, but it still amazes me that almost no one was trading the pair at that time. Yes, it's an off-pair, but I just figured that ...

Where is the liquidity?

Trade update (new trades in bold): Buy 2 NZDUSD @ 0.7391, SL @ 0.7363 Sell 1 USDCAD @ 1.1088, SL @ 1.1077 Sell 1 GBPUSD @ 1.9800, SL @ 1.9800 Sell 2 AUDCAD @ 0.9212, SL @ 0.9232 Buy 2 EURGBP @ 0.6840, SL @ 0.6832 Buy 2 EURUSD @ 1.3545, SL @ 1.3535 ...

Bytebodger's Pip-Burning Journal

Oh OK - please disregard my previous post then. I think your approach makes perfect sense. On one hand, I really like the process of using the SAR points for progressive SLs. I hate automated trailing stops because they can take you out of a winning ...

Bytebodger's Pip-Burning Journal

Trade update (new trades in bold): Buy 1 CADJPY @ 108.33, SL @ 108.55 = closed 1 @ 108.64 (+31) Buy 2 NZDUSD @ 0.7391, SL @ 0.7356 Sell 1 USDCAD @ 1.1088, SL @ 1.1088 Sell 2 GBPUSD @ 1.9800, SL @ 1.9829 = closed 1 @ 1.9783 (+17) Sell 2 AUDCAD @ ...

Bytebodger's Pip-Burning Journal

Good luck with your trades. I'm not pushing this system for anyone else, but if you think it suits you, then I'd be happy to hear how you do with it. As for money management, I'm going to stay with my current strategy, but I would love it if someone ...

Bytebodger's Pip-Burning Journal

Trade update (new trades in bold): Buy 1 CADJPY @ 108.33, SL @ 108.55 Buy 2 NZDUSD @ 0.7391, SL @ 0.7353 Sell 1 USDCAD @ 1.1088, SL @ 1.1088 Sell 2 GBPUSD @ 1.9800, SL @ 1.9829 Sell 2 AUDCAD @ 0.9212, SL @ 0.9249 Buy 2 EURGBP @ 0.6840, SL @ 0.6828 ...

Bytebodger's Pip-Burning Journal

I'm going to echo some of bluebuddha's comments here. I think this totally depends on the timeframe in which you are trading. If you are doing traditional "day trading" - trading on timeframes of minutes or hours - then I think it's very unwise to ...

To hold or not to hold trade during week-end?

I don't want to refute your method - you should do whatever works for you - but I feel compelled to point out for the noobs reading this thread that your stated strategy runs counter to "conventional wisdom" doled out by many successful traders. I ...

How long do you hold your position..?

When did the topic of conversation switch to Russian Roulette??

The Daily Fozzy Method