1 sentence summary: out for biz after 17pm and planned to no-trading today;
back after dow open, (knowing that I am not allowed to trade dow!!) I still did a few random picks and violated basically every rule... !!! (see details)
I will ban myself for next 24hr x 3 day from forex because of severe violations below.
i) profit goal VS risk control: will only audit this every day, will not count how many pips
new risk control: modulate s/l and leverage until profit goal is matched exactly (if exceed, drop s/l till MATCH)
12 deals, -20/12=-1.5, average -1.5pips/deal, goal is average -1pips per deal, s/l drop keep -17pip
ii) every order fix s/l at -17: no
long at 1.3560 where seems to break up, then dow 1st rebounce fail and in red... s/l enlarged to 1.3500
iii) follow trend only, using the acc dedicated long for E/U only (base on last week trend) -- was mostly doing long, but did one short and lost -17pip
iv) only 1 position, 1:1 leverage, no more order on gain or loss -- no
1st, added 2 more position on 1st position in red
2nd, not satisfy with score, in the end opened 5x position gamble and in red, then opened 4x position to average. terrible
v) quit order 30min before news till 15min into news, before US open, no trading in dow -- no
out for biz tonight, back at dow open, so traded a little during dow open and was annoyed...
vi) on 1st order close, check news agenda again, do not place a new limit order in 20min, and do not place an order within 20pips away from previous order: -- no
basically my 1st order s/l enlarged, so I hold a dynamic loss order and added more for average out.
vii)
-2% acc loss on a deal? -- no, but -10pip*5=-0.5% dynamic loss happened...
-10% acc loss on a day? -- no
re-enter a direction on a deal loss? -- basically enlarge s/l and did not accept s/l hit, put in more and more work to clean the 1st evil... but commit more evil.
try to use > 50% s/l order to close position -- no, 95% using t/p
when in profit, change s/l to 0 -- no
when in loss, change t/p to 0 -- this is done a lot today
time in report is EST
back after dow open, (knowing that I am not allowed to trade dow!!) I still did a few random picks and violated basically every rule... !!! (see details)
I will ban myself for next 24hr x 3 day from forex because of severe violations below.
i) profit goal VS risk control: will only audit this every day, will not count how many pips
new risk control: modulate s/l and leverage until profit goal is matched exactly (if exceed, drop s/l till MATCH)
12 deals, -20/12=-1.5, average -1.5pips/deal, goal is average -1pips per deal, s/l drop keep -17pip
ii) every order fix s/l at -17: no
long at 1.3560 where seems to break up, then dow 1st rebounce fail and in red... s/l enlarged to 1.3500
iii) follow trend only, using the acc dedicated long for E/U only (base on last week trend) -- was mostly doing long, but did one short and lost -17pip
iv) only 1 position, 1:1 leverage, no more order on gain or loss -- no
1st, added 2 more position on 1st position in red
2nd, not satisfy with score, in the end opened 5x position gamble and in red, then opened 4x position to average. terrible
v) quit order 30min before news till 15min into news, before US open, no trading in dow -- no
out for biz tonight, back at dow open, so traded a little during dow open and was annoyed...
vi) on 1st order close, check news agenda again, do not place a new limit order in 20min, and do not place an order within 20pips away from previous order: -- no
basically my 1st order s/l enlarged, so I hold a dynamic loss order and added more for average out.
vii)
-2% acc loss on a deal? -- no, but -10pip*5=-0.5% dynamic loss happened...
-10% acc loss on a day? -- no
re-enter a direction on a deal loss? -- basically enlarge s/l and did not accept s/l hit, put in more and more work to clean the 1st evil... but commit more evil.
try to use > 50% s/l order to close position -- no, 95% using t/p
when in profit, change s/l to 0 -- no
when in loss, change t/p to 0 -- this is done a lot today
time in report is EST
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