Sackie's live trading experiment

Discussion in 'Share Investing Strategies, Theories & Education' started by Sackie, 20th Jun, 2021.

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  1. MTR

    MTR Well-Known Member

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    Yes, I get this

    But still a very interesting thread to follow

    thx
     
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  2. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
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    Location:
    Vaucluse, Sydney.
    Trade: 10(open)
    Pair: GBPNZD
    Time frame: 4h chart
    Trading direction: short (down)
    org.PNG
     
  3. Sackie

    Sackie Well-Known Member

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    Location:
    Vaucluse, Sydney.
    Trade: 9 (close)
    Pair
    : usd/jpy
    Time frame: 15 chart
    Trading direction: short (down)
    Win/Loss: loss
    Risk to reward: 1:0
     
  4. Sackie

    Sackie Well-Known Member

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    Location:
    Vaucluse, Sydney.
    Trade: 4(update)
    Pair
    : GBP/NZD
    Time frame: 4h chart
    Trading direction: SHORT. Red line is SL, Green is entry.
    Comments: Starting to make it's move. Who knows . Anything can happen. Will move SL soon

    Screenshot_20210624-213958_MetaTrader 5.jpg
     
  5. Sackie

    Sackie Well-Known Member

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    Sorry guys, I've been really busy lately and haven't taken all the screenshots, but I'm still trading it. I really want to document this but tbh it's time consuming and not so convenient to take all the screenshots etc for 100 trades.

    I'm currently on 22.4% return since I started. I dont expect that to keep up because the return is insane. I haven't calculated my RR yet but it'll be around 1 to 6 so far. Started before very first trade on $250 and currently on $304.


    I'll start again with documenting but keep it simple. 30 trades. And I'll take one snapshot showing entry and exit with result.

    Anyway this is currently where I am, 2 trades open.

    ccc.PNG
     
    Last edited: 29th Jun, 2021
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  6. Sackie

    Sackie Well-Known Member

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    Starting at $308 on 29/6/21,
     
  7. MTR

    MTR Well-Known Member

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    How do you work out/decide what currencies you will trade?
     
  8. Sackie

    Sackie Well-Known Member

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    I mainly stick to the major and some minor ones. I stay away from the exotic ones as they are too volatile for me.
     
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  9. Sackie

    Sackie Well-Known Member

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    Trade 1 and 2 closed:

    Trade 1: Risk to Reward was 1:3

    Trade 2: Risk to reward was 1:7

    Running balance: $319.25 (31.6% return on equity since start)
    cscs.PNG
     
    Last edited: 30th Jun, 2021
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  10. Sackie

    Sackie Well-Known Member

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    Finally placed trade 3.

    Still on going. EURCAD long. 1 hour chart. When this trade closes i'll update numbers. So far got a beautiful RR on this trade.
    ec1.PNG
     
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  11. inertia

    inertia Well-Known Member

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    sorry if i missed it in the thread, but what is the cost per trade? is it insignificant, or are you wearing it to test the theory, which you will then apply to significant value trades?

    Cheers,
    Inertia.
     
  12. Sackie

    Sackie Well-Known Member

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    This. Over the years every time a new set up shows promise I test it with a small amount of money to assess its viability.

    I have just been slack to keep up with screenshots and post. But I am committed to finishing these 30 trades to test this new setup. Currently on trade 3. Started with $250. Currently on $370.
     
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  13. Piston_Broke

    Piston_Broke Well-Known Member

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    For a while I traded a system that waited for inside candles, then put a buy and sell above and below the previous outside candle. TP 30pip SL 10pip.
    Worked well for a couple years with small amounts (only 1 neg mth -5%), then just as I thought I'll increase the trades it had 4 losing consecutive months. Maybe revisit next year, but IME these things will probably never work again for a long time.
    199.png
     
  14. MTR

    MTR Well-Known Member

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    Is this why 95% fail trading ???
     
  15. Sackie

    Sackie Well-Known Member

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    Risk management is the reason imho. And the psychological part in trading is maaaaaaassive . Buying real estate is a picnic in comparison.
     
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  16. MTR

    MTR Well-Known Member

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    This is exactly why I decided cant do this, I will fail. But well done to anyone that can make this work
     
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  17. Sackie

    Sackie Well-Known Member

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    You'll probably stay more sane than most losing traders:)
     
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  18. Sackie

    Sackie Well-Known Member

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    When I get home I think I'll post more detail on my setup to maybe add more value to this thread for certain individuals.
     
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  19. MTR

    MTR Well-Known Member

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    I have done the hard yards, fulfillment/contentment ie family, lifestyle etc is what matters me
    No point doing something I dont enjoy
     
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  20. Piston_Broke

    Piston_Broke Well-Known Member

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    Uhmmm not sure that question can be answered.
    I think one of the reasons is that just like at the casino or slot machines many people cannot leave with a loss. Just one more hit...it's ready to pay.
    Another reason IMO is the TA does not work. It does the opposite by teaching people to lose their money. The whole TA industry make heroes of losers.

    In the 90s you could trade on a daily swing charts and do well.
    In the 2000s carry trades were popular and I did ok with them too. Turkish lira was paying 16%.
    It got to the point where the news was saying "Japanese house wives beat the central banks" and I knew that game was up. There even was a thread on somersoft with people saying the RBNZ was gonna get hammered by carry traders...ya right.
    Then there was news trading, then automated news trading, then brokers opened spreads and then the big firms and quants got the news in advance. Game over.
    Then big moves brought back trend traders, and the big trends became less and more jumpy. And the rates paid are negative, meaning it costs to hold a trade.

    And another reason is that everyone is against you. Banks, market makers, other traders and your own broker.
    If you lose your money in forex or CFDs, it goes to the broker who is most times on the other side of the transaction. The broker then decides if he wants to hedge part or all of his position.
    When a trader makes a large amount the broker will start closedly scrutinizing the trades to see if they are breaking the rules and they don't have to pay out. Or make sure to always hedge his trades.

    Just look at Robinhood broker selling out it's customers who think they get cheap brokerage.

    Absolutely.
    I do like most of the process.
     
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