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  • BRM's Manual Trading Journal and Adventures

    Herein lies the official journal and general adventures of BRM the 2nd.

    big_river_man-640x540.jpg

    Why am I doing this?

    1) to make myself accountable.
    2) to improve my reasoning and thought process
    3) as a public record which hopefully will help me to be the best that I can be
    4) some other reasons that I've forgotten

    I have thought about having some form of blog for some time now to do with Forex. Be it my own journey of trading, or be it to help others not fall into the traps that I have along the way.
    For now I will record some thoughts on here, hopefully weekly. I do not trade full time but the more I do this the more I have decided I need to take this seriously and treat it like a job. It's time to get ****ing serious now. First thing is to become profitable then to start my blog. Journal will suffice for now. I will endeavor to constantly edit and add to this front post.

    I have been a member here for years, in fact I had an alternate name when I first started I can't even remember what it was now. But at least 3 years I have been here. While there have been some successes there have also been failures. Until now the failures more than outweigh the positives if I'm brutally honest. BUT luckily for all you buggers that have only been here since 2015 then you've come to the right spot as you are able to literally walk and trample over the skulls of the many that have fallen before you. There are a few of us that are still around from the beginning days. But not many. RIP unknown trader friends......<minutes silence>

    I have copped every single loss via signal that connectforex.com could line up, that forexsignals.com could line up, and to top it off I have been a really shitty trader now for going on 3 years. Consistently OK and quite profitable but essentially never been able to trade with SL's or to add to trades etc etc. What happens is that a small loss quite often becomes a large loss. I thought I was done with it after 2014 but I did have another loss this year a couple of months after the CHFbomb (where my account was margin called by following TA and Smart). I got hit and basically knocked out by Smart Scalper and DayFox @ the end of 2014 which I thought was going to be the end of my Forex days but I have dug in, and despite this loss midway through 2015 and the CHFbomb of 2015 I am determined. In fact that DayFox escapade was sadly worsened by a copier issue on a few accounts which really hurt. I basically lost almost everything to my name, and not only that but I had lost the love of my life at a similar time. Needless to say that there have been some immensely dark days. Sometimes you need to hit these deep lows to appreciate life. Sigh.

    I have excelled at everything that I have ever put my body or my brain into in the past, so I see no reason why this cannot continue.

    Failure to me is not an option.

    That being said I have strict trading cut off date this year. If i cannot show myself that I can be profitable from now until that date then I will have to walk. If I am profitable in signals but not in manual then i will stop manual trading and just become the boss of EA's and signals. No shame in that.

    The site seems to have some great traders for now. Vijay, Jeff and Phil look solid. Steady Capture obviously we need to watch as of course we all got hit there. Yet, looks good. Sorry to see Tony fall by the wayside. Just goes to show you how hard this game is. I want to be the 5% and NOT the 95%. This site hopefully is going to make that a reality via signals. BUT why not see if I can actually make money myself while I am at it.

    I have been through the RINGER so many times that this thick head of mine doesn't want to feel those emotions again.

    So can a bad trader become good by learning his lesson? We'll see.

    Tune in and subscribe if you have any interest, all good to me, I don't care so much either way, I am going to try out this journal for my own productivity anyhow to see where it takes me.

    Much love to all.
    Last edited by Big River Man; 08-26-2015, 10:16 AM.

  • #2
    Practice Week 1

    So funded account and wanted to play around with my ideas and trading from demo to iron out some flaws for 2 weeks of practice trading. Would be great to do it with fake money but I want it to feel as real as possblie. So it's 2 practice weeks with real money and my real account. Then to start trading fresh for the new month of August (dumb time to start real trading I know)

    Practice week 1 of 2

    First week. Real money.
    First day. First mistake.

    Took a trade on Monday in the excitement to get started. Have been trading paper money for weeks with success. With all intentions to write my letter of intent for trading. Had been digesting whether or not to trade on Monday’s with the thought process being that I wouldn’t barring an A+ trade setup.Needless to say 1 EG short trade was taken at market value on Monday. From hence on in there will be no trading on Monday barring a high probability setup during weekend analysis. Contemplating the same for Fridays. It has been possible in testing phase to make the wanted % per week in 3 days. Tue-Wed-Thu.

    The system if run purely with not trailing stops or early exits on profit targets or stop losses will breakeven with a 34% win ratio.

    Using these first 2 weeks to set my weekly, monthly (and therefore yearly) profit targets.
    Currently 0.65% a week equates to 2.63% a month which will create a 40% profit for the year which is more than acceptable if drawdown can be kept to 10-15%

    I would consider stop trading if a week or month was to make 3x the wanted gains. For example, a profit for the week of 2.6% (4 x 0.65%) on equity for all closed and open positions will suffice and all trades to be closed. Rest of the week can be off trading as a mental break. Same will go for monthly gain of 10.52% (4 x 2.63%). Will use myfxbook stats for this.

    Purely compounding account. No dividends to be paid. Want to run this account as if it were to be trading exchangeable for any sized account from $5000 to $1 million.

    Results.
    PracWeek1Gain.png
    PracWeek1Growth.png

    Best trade of the week.
    GC long WED - bottom of BB on 1H and 4H, reversal candles
    PracWeek1BT.png

    Worst trade of the week
    EU short THU - uptrend 4H, strong bullish reversal previous candles, pre europe open. Got this COMPLETELY WRONG!!!
    PracWeek1WT.png

    Biggest Mistake of the week
    Not trusting my instincts and not pulling the trigger on comdolls trades d/t initial losses
    Trading on Monday without proper risk profile set ups
    Using myfxbook as a economic news calendar. It’s unreliable with it’s red flagged events.

    Biggest Success of the week
    Writing this journal
    Last edited by Big River Man; 08-26-2015, 08:29 AM.

    Comment


    • #3
      Practice Week 2

      Practice week 1 of 2

      Second Week
      Second Mistake. Well sounds better that way but multiple mistakes made in first week.

      The mistake here is by letting the Signal accounts affect my own individual trading. This week specifically Smart Squared was shorting the GJ, a trade I personally disagreed with at the time. We got into quite some drawdown and this stress affected my own personal trading on Inari. Another week another lesson learned. And this is WHY I am doing this journal.

      As a result this week had some pretty shit trades. Some pretty unlucky ones. The only solace that I can take here is that majority of trades hit my TP (ummmm yes after it hit the SL) - well this may be a pointless statistic, yes true, however, it does give me solace that I have to right thought process.

      I am having some difficulty running through my trade management idea. I am toying with this idea of cutting off trades if weekly profits hit 3x target. In fact I am not just toying with this I am indeed implementing it. My issue currently (raised by my girfriend with little to no forex experience) says to me “Well what is your cut off for losing in a week?” My response on the phone was silence. My response in my head was “****!” It is a very good and legitimate point, HOWEVER, for now…...I am going to monitor this and trade without a minimum loss. Were I to cop 10 losses in a row I would be down 5%. Well that is about 2 months worth of profit there. Hmmmmmmm. Can I cop 10 losses in a row. Yes sure. Of course. Have I yet? No. I see 3 fixes here - wait I can only remember 2. Shit.

      trade 0.25% risk per trade rather than 0.50%. So effectively half my risk...but also half my profit. So really in reality this doesn’t fix shit all.
      put a similar daily/weekly loss limit on the account - my issue with this is my risk reward is for the most part 1:2 thus I can lose 5 or 6 trades in a row and be down 3% but the next 2 hit profit and I am only down 1% for the week which is fine. But do to the trading have a higher risk reward the win ratio will be less….thus for the moment I do not want to put a loss limit in as the recovery can just be upon the next trade

      I have a form of mentor, no wrong word, I have a guardian angel that has access to my account. That angel is a forex trader. The understanding here is to touch base once or week (or more) and essentially for him to tell me to pull my head in. I also have another friend that is not a forex trader but a trader of commodities in banks. He also has access to the account and will give a weekly advice or once over and ask questions more pertaining to risk. I want to make myself accountable.

      The decision to trade ONLY on TUE-WED-THU has been made and it is a bloody load of my shoulders. Monday will be prep work, to wait for any gaps or weekend news to settle and to give me time to organise. If something comes along that looks like Kate Upton stranded on an island beach though I will think about taking it. Otherwise it’s hand s off. Friday I will not OPEN and new trades but if I have trades open I will just monitor them and set SL’s to profit targets if in profit, or let trades run if in loss.

      Results.
      PracWeek2Solo.png
      PracWeek2Mono.png

      So far......
      PracWeek2Gain.png
      PracWeek2Growth.png

      Best trade of the week.
      **** ALL really but UF long was a few pips away from TP so I moved the SL to breakeven plus 20%. As you can see it hit the SL for a small profit then went on to hit my SL. This was one of several occurrences this week.
      PracWeek2BT.png

      Worst trade of the week
      UC long - because I broke my rule. I moved my SL. Lost 0.67% on this one. Obviously if you look at the chart you can see that i had the right idea. Doesn’t matter though. That’s a 1.67% turnaround there.
      PracWeek2WT.png

      Biggest Mistake of the week
      Moving my bloody SL.

      Biggest Success of the week
      Unfortunately again writing this journal. Hopefully in upcoming weeks I can say that my success has been enacting the rules that this journal aims to initiate.

      Comment


      • #4
        Hello BRM,

        Good stuff, and interesting to read about your forex experiences so far I am nowhere from being a profitable trader but here would be some thought I would like to share with you:

        - 40% performance ; with 15% Risk
        I would recommand aiming for 3less risk maximum, so dividing by 3 it would be 13% annually for 5% risk. Having 15% can be a handicap and scare off big money investors....

        - Maybe you should backtest your strategy over the years to determinate your optimal Risk/Return ratio and optimal WinRatio. If your strategy is technical that should be done. However if you are more of a fundamental trader, I think your strategy can not be backtested

        Goodluck, you have a long road ahead of you !!!

        Comment


        • #5
          Originally posted by Big River Man View Post
          Herein lies the official journal and general adventures of BRM the 2nd.

          [ATTACH=CONFIG]1256[/ATTACH]

          Why am I doing this?

          1) to make myself accountable.
          2) to improve my reasoning and thought process
          3) as a public record which hopefully will help me to be the best that I can be
          4) some other reasons that I've forgotten

          I have thought about having some form of blog for some time now to do with Forex. Be it my own journey or trading or be it to help others not fall into the traps that I have along the way.
          For now I will record some thoughts on here, hopefully weekly. I do not trade full time but the more I do this the more I have decided I need to take this seriously and treat it like a job. It's time to get ****ing serious now. First thing is to become profitable then to start my blog. Journal will suffice for now. I will endeavor to constantly edit and add to this front post.

          I have been a member here for years, in fact I had an alternate name when I first started I can't even remember what it was now. But at least 3 years I have been here. While there have been some successes there have also been failures. Until now the failures more than outweigh the positives if I'm brutally honest. BUT luckily for all you buggers that have only been here sicne 2015 then you've come to the right spot as you are able to literally walk and trample over the skulls of the many that have fallen before you. There are a few of us that are still around from the beginning days. But not many. RIP unknown trader friends......<minutes silence>

          I have copped every single loss via signal that connect forex could line up, that forexsignals.com could line up, and to top it off I have been a really shitty trader now for going on 3 years. Consistently OK and quite profitable but essentially never been able to trade with SL's or to add to trades etc etc. What happens is that a small loss quite often becomes a large loss. I thought I was done with it after 2014 but I didn't have another loss this year a couple of months after the CHFbomb (where my account was margin called by following TA and Smart). I got hit and basically knocked out by Smart Scalper and DayFox end of 2014 which i thought was going to be the end of my Forex days but I have dug in, and despite this loss midway through 2015 and the CHFbomb of 2015 I am determined. In fact that DayFox escapade was in fact worsened by a copier issue on a few accounts which really hurt. I basically lost almost everything to my name, and not only that but I had lost the love of my life at a similar time. Needless to say that there have been some immensely dark days. Sometimes you need to hit these deep lows to appreciate life. Sigh.

          I have excelled at everything that I have ever put my body or my brain into. Failure to me is not an option. That being said I have strict trading cut off date this year. If i cannot show myself that I can be profitable from now until that date then I will have to walk. If I am profitable in signals but not in manual then i will stop manual trading and just become the boss of EA's and signals. No shame in that.

          The site seems to have some great traders for now. Vijay, Jeff and Phil look solid. Steady Capture obviously we need to watch as of course we all got hit there. Yet, looks good. Sorry to see Tony fall by the wayside. Just goes to show you how hard this game is. I want to be the 5% and NOT the 95%. This site hopefully is going to make that a reality via signals. BUT why not see if I can actually make money myself while I am at it.

          I have been through the ringer so many times that this thick head of mine doesn't want to feel those emotions again. So can a bad trader become good by learning his lesson? We'll see. Tune in and subscribe if you have any interest, all good to me, I am going to try out this journal for my own productivity anyhow.

          Much love to all.
          Thanks BoozyBum (I remember your old name)

          Appreciate you going to the time to put this together and I'll be following your progress with great interest. The post did give me a bit of a chuckle, especially the minutes silence (which I of course respected).

          Good luck and god speed!
          Would you like free lifetime access to our forex trading room?

          Open an account at Blueberry Markets and save the $97/monthly fee.

          Click here to find out more.

          Comment


          • #6
            Originally posted by Nick View Post
            Thanks BoozyBum (I remember your old name)

            Appreciate you going to the time to put this together and I'll be following your progress with great interest. The post did give me a bit of a chuckle, especially the minutes silence (which I of course respected).

            Good luck and god speed!
            BoozyBum! That was it! Drinking and trading. What a legacy. Thanks for finding this thread. Wasn't sure if anyone would find it. My journal is about 3 weeks behind so I'll catch up over the week. So much stuff going on in markets that I've decided to stand aside and let the dust settle. Good time to start the thread and stop being a lazy shit. [emoji12] [emoji12]

            Comment


            • #7
              well looking forward too follow up on this journal

              Comment


              • #8
                Good luck with it all BRM.

                Keep at it mate, nothing comes easy however you seem to have the winning attitude and your not giving up which are very important attributes to have in this field.

                I will be following your journey with great interest.

                Comment


                • #9
                  Didn't spot this one, subscribed straight away

                  Really looking forward to hearing your updates,

                  Great thing you have started here, 👍

                  //ben


                  Sent from my SM-N910F using Tapatalk
                  http://www.myfxbook.com/members/dupapa

                  Comment


                  • #10
                    Originally posted by yoyomoma View Post
                    Hello BRM,

                    Good stuff, and interesting to read about your forex experiences so far I am nowhere from being a profitable trader but here would be some thought I would like to share with you:

                    - 40% performance ; with 15% Risk
                    I would recommand aiming for 3less risk maximum, so dividing by 3 it would be 13% annually for 5% risk. Having 15% can be a handicap and scare off big money investors....

                    - Maybe you should backtest your strategy over the years to determinate your optimal Risk/Return ratio and optimal WinRatio. If your strategy is technical that should be done. However if you are more of a fundamental trader, I think your strategy can not be backtested

                    Goodluck, you have a long road ahead of you !!!
                    Hi yoyomoma,

                    Thanks for your post. Regarding the 15% risk...at the moment this is floating but I am more thinking that it will be a cut off for me to stop trading. Or at least to have a rethink. However if I were to make 40% with a 15% max in a year then I' still be be very happy. My strategy will be easily changeable. All I will do is risk less per trade, simple as that. So if any big money investors were interested then I would simply tone down the risk per trade. No problem. Anyway this would be a highly unlikely scenario anyway and isn't particularly something on my radar.

                    ONLY thing on my radar is to actually be profitable whilst keeping risk realistic. From there anything is possible.

                    Comment


                    • #11
                      Start of Trading Week 1

                      New Month - August
                      Start of Trading
                      Week 1



                      Booooyah! This is the kind of week that just makes you smile. Let it happen!!!

                      4 trades 4 wins. Feels nice. What else can I say. Even better I was finished trading by Thursday morning (Wednesday night in Europe and USA). So it means that I can crack open a beer on Thursday night and watch the football without a care in the world until next Monday’s preparations.

                      Closed 2 positions when I woke up on Thursday morning as it took me to the 2.6% positive cut off for the week. Not going to kiss these profits goodbye.

                      I am still a bit perplexed on what to do in regards to a losing week cut off. And I am also still considering my options in relation to the risk I take per trade. Currently 0.5%. Thought process is to bring that lower. For now will leave it and just concentrate on my win % and trying to pick my trades. Last week had almost every losing trade hit TP after I hit SL, so that tell me that I need to work on my entries. Have been incorporating some FIBONACCI levels into the purely SR trading that I had been doing the first 2 weeks.

                      My biggest concern currently is the correlation between pairs. Hence why i am thinking to reduce the risk to 0.25% per trade. I signaled for myself GC, GN, GA all for long trades. But I only took 2. If I am wrong and GBP dives then I stand to lose 1.5%. For now I am being more selective on pairs. TBC.




                      Results.
                      W1Mono.png
                      W1Solo.png

                      So far…….
                      W1Gain.png
                      W1Growth.png

                      Best trade of the week.
                      GN long
                      W1BT.png


                      Worst trade of the week
                      None!

                      Biggest Mistake of the week
                      Flawless.

                      Biggest Success of the week
                      Sticking to my rules. Hitting the weekly cut off. The rest of the week afterwards felt like a just reward. I bought myself a Rib Eye steak rather than sausages.


                      Comment


                      • #12
                        Week 2

                        New Month Start of Trading Week 2



                        Now here is an interesting week. I was on a high from last week hitting 4x weekly goal of 0.65% (remember I am trying to hit this weekly goal to reach 40% a year - who’s going to be happy with that? I most certainly am.)

                        So Wednesday pre european open I was up 1.5%, I genuinely felt a solid sniff of poop in the air. It was absolutely steaming through my computer monitor. I checked my shoes and it wasn't something I had trod in whilst going for a run, it was in fact the reek of change in the markets. Despite this I decided I would get drunk and go out to the pub for trivia. I left all my pending orders open that I had set in previous hours. Needless to say when I got home from the pub I was at 0% profit. Very annoyed, NOT because the trades hit SL BUT because I broke a RULE.

                        Drinking + Trading = Nightmare.

                        That’s right kids, don’t do this @ home. I was also pissed off because I should have listened to my spidey sense.

                        Okay so this requires me to publish and devise some rules. I’ll attach those to the initial post in some time I guess.

                        I was PISSED OFF. I need to treat this like a business and with professionalism like I do with my “day job”. There is no time for anything but respect for my job on a day to day basis, this should be the same for my trading. GRRRRRRRRRRRRRRRRRRR…….

                        I won $100 at trivia for coming 1st….but it was small solace for sniffing that smell of poo in the air and ignoring it.

                        Thankfully I finished up the week with a beautiful trade and hit 1% profit for the week anyway. 2 weeks of serious trading and feeling good. First 2 practice weeks still have me in an overall loss, but I cannot hide from them and will leave them on my trading record.



                        Results.
                        W2Mono.png
                        W2Solo.png

                        So far…….
                        W2Gain.png
                        W2Growth.png

                        Best trade of the week.
                        EC long - Asian trade idea. Used SR/SD areas combined with FIBS to jump onto a strong move from the previous day.
                        W2BT.png

                        Worst trade of the week
                        Every trade that was hit while I was drunk at the pub.
                        W2Trades.png
                        W2WT.png

                        Biggest Mistake of the week
                        Being a ****ING IDIOT!!!!!

                        Biggest Success of the week
                        Staying positive and not letting any other traders opinions on Twitter or the trading room affect my personal bias.

                        Comment


                        • #13
                          Good work mate, keep it up.

                          I'm enjoying reading your journal

                          Comment


                          • #14
                            Yeah, drinking and trading never go well together!

                            Instead of trading I play online poker with a small amount in the knowledge that I'll likely lose it, but it's better than gambling on the markets.
                            Would you like free lifetime access to our forex trading room?

                            Open an account at Blueberry Markets and save the $97/monthly fee.

                            Click here to find out more.

                            Comment


                            • #15
                              Boozy bum you sneaky bastard

                              Gl mate.

                              Comment

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