LTC - Long - TESTING simple strategy and rule following
From listening to Trading in the zone by Mark Douglas I'm going to complete his challenge towards the end of the book.
I'm going to place 20 consecutive trades obeying the rules.
Each trade size will be decided by my stop loss position. i.e. only 1% of my account will be on the line for ea trade.
This way if it goes horribly wrong it will not destroy my account.
Wish me luck - ill update the chart with ea entry & exit.
I will however miss all trades between roughly 2100 - 0400 EST. Sleep is important too.
I'm going to place 20 consecutive trades obeying the rules.
Each trade size will be decided by my stop loss position. i.e. only 1% of my account will be on the line for ea trade.
This way if it goes horribly wrong it will not destroy my account.
Wish me luck - ill update the chart with ea entry & exit.
I will however miss all trades between roughly 2100 - 0400 EST. Sleep is important too.
Trade active:
1st trade underway. second gn candle prompted entry. bought pullback on 15min. SL set.
Comment:
Comment:
I have realised i did not decide on how/when the stop should be moved into profit. So spot decision is to wait for 15 min to make support when in profit then slide it slightly underneath. Possibly 50c's. Will decide this as i first move it and alter the rules to reflect.
Comment:
0 for 1 - Stopped out. Unfortunately did not get a chance to move up the stop. so took out my original stop.
Trade 2 now commenced as GN HK closed above 100ma. Bought 15 min pull back. Not sure why - this one feels more promising.
Trade 2 now commenced as GN HK closed above 100ma. Bought 15 min pull back. Not sure why - this one feels more promising.
Trade active:
Comment:
Comment:
Still watching however it looks likely the next entry may be a week or so away. Alarm still set on 4HR Heiken Ashi Green close.
Comment:
Its been a quiet week across the board. No active trades. 3rd touch of this lower trend line could be a false break lower so well see what happens once we gain the 100ma again on the 4hr.
Trade active:
And were off again for trade #3. Stops in, lets go.
Trade closed: stop reached:
Tough ride but perseverance is key. 3 for 3 no profits yet. All stopped.
Comment:
Comment:
Yesterday afternoon after work i managed to enter again. Been busy until now so heres an update.
Comment:
Comment:
And heres the stop loss MGMT so far. I would have liked to move to position 1 but missed is. Now moved to slight profit at position 2. I calling this a win after the lat 3 trades. Plan from here - Take 1/3 at the top of the green box. 5% and so on. ITS GO TIME.
Comment:
Asleep while we peaked but caught the green candles at 5% up so 1/3 sold.
I've realized my stop loss mgmt states that after moving it into profit I do not move it until I've taken the 10% 2nd 3rd of profit. I'm going to make a decision here to trail it behind the low of the last HK close all the way up. I will stick to this rule from here on.
- Its interesting that the rules I set out initially did not wholly take care of all situations which arise during a trade.
On another note I'm enjoying this shared diary/testing.
I've realized my stop loss mgmt states that after moving it into profit I do not move it until I've taken the 10% 2nd 3rd of profit. I'm going to make a decision here to trail it behind the low of the last HK close all the way up. I will stick to this rule from here on.
- Its interesting that the rules I set out initially did not wholly take care of all situations which arise during a trade.
On another note I'm enjoying this shared diary/testing.
Comment:
Trade # 4 closed by stop loss yesterday (Blue arrow). After making the decision to trail the stop under neath the close of ea 4hr HK candle(Yellow Arrow) the 2nd candle from that decision took me out. With 1/3rd sold at 5% and 2/3rds stopped out at roughly 3.9% it certainly not the worst trade ever. It rallied on from that point to my 10% target which i will say irritated me but I'm happy with the decision and will continue on with this rule until trade 20. Thankfully were seeing some red HK's now so waiting on re-entry.
Comment:
#5 And were off again, interestingly the last rally stopped at the upper trend line which will be 5% on this trade. Lets see if we break through this time. Will not change how we apply the rules.
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Okey Dokey, so most successful trade so far, very nearly stopped, now sold 1/3 at 5% and the 2nd at over 10% -I was at the gym when it rallied. Stop following HK's up. Quite enjoying today.
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Comment:
#6 bought and sold on stop within hours here in this consolidation. Watching and waiting.
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#7 came after the consolidation as above:
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Back to following and waiting.
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I've been watching for a few days now. Nice rally and lots of fomo. Rules is rules. Green CCI on 4hr = no trade.
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#8 and were away. 1st 3rd already taken
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Rest stopped out in profit. Watching for another entry.
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#9 underway, doesn't look too good.
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Yep - rules is rules 9 closed on stop.
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9 stopped out. 10 in and out. possibly a bit eager with the entry.
Comment:
Well i guess i deserve bot of those in hindsight. The 4hr
cci was in the green. Broke an entry rule.
Im unsure wether to count those trades. I think i Will but be more vigilant from here.
cci was in the green. Broke an entry rule.
Comment:
Comment: Well its been a while, missed this entry due to the early hours, feels like i haven't traded in a year. hoping we pull back here to get the CCI in negative territory.
- watching and alarm on 4 Hour HK still active.
Comment:
#11 after what feels like a year. Sold 2/3rd at 5 & 10%, Stop moving up behind with final 3rd.
Comment:
Trade 11 finished with last 3rd stopped out around 8 %, Successful trade.
Trade 12 up and running. Lets go.
Trade 12 up and running. Lets go.
Comment:
Comment:
After 1 month off from trading and a few missed opportunities, were off again. trade 13 underway.
Comment:
Comment:
Trade closed: stop reached:
5% profit on first 1/3. 10% on second. Just above scratch on last 3rd.