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Up 58% in 2 trades last week - need help
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Up 58% in 2 trades last week - need help

  #1 (permalink)
Trading Apprentice
Los Angeles CA
 
Futures Experience: Beginner
Platform: fxTrade, MT4
Broker/Data: Oanda
Favorite Futures: Forex
 
Posts: 3 since May 2014
Thanks: 15 given, 1 received

Up 58% in 2 trades last week - need help

Hey all,

After 4 years of agonizingly slow growth, I finally had the week I've been working towards. 2 shorts of GBP/USD netted me a total of 174 points. (Charts or Myfxtrade link provided on request) I'm trading live, using Oanda's prop. platform fxTrade but I just downloaded NinjaTrader 7 and Kinetick's feed and I'm back to being quite stupid.

I want access to as many markets as I can (for American traders) but I don't know how to organize the glut of information into a simple (preferably graphical) easy to memorize format. Please be aware I am retired on disability and short of cash for now. I've traded the GBP/USD live exclusively for six months trying to become familiar with one instrument and I'd like to begin to expand my harem of beauties - if you follow my meaning.

I'm working through introductory NT7 videos and hopefully it won't take forever to get a handle on how to set up, access feeds and complete order management tasks.

I hope I made sense here. I'm temporarily overwhelmed with NinjaTrader/Kinetick + New Markets + New Instruments and if possible, I'd like to simplify the process of organizing this monster - tip: I think visually and I like pictures... if that helps.

Thanks for reading and good trading,

Mike
Los Angeles

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  #2 (permalink)
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  #3 (permalink)
Trading Apprentice
Canada
 
Futures Experience: Advanced
Platform: MetaTrader
Favorite Futures: Forex, Futures
 
Posts: 5 since Nov 2014
Thanks: 0 given, 1 received


May I ask you how much % you risked on each of these 2 trades? Did you break your risk management rules as well or did you just have a large R:R ration

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  #4 (permalink)
Market Wizard
New Orleans, La (Mardi Gras City)
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Ninjatrader / Optimus Futures / AmpFutures
Favorite Futures: ES / 6E / 6B / CL
 
DavidHP's Avatar
 
Posts: 1,002 since Aug 2009
Thanks: 802 given, 1,367 received


FXL5 View Post
I hope I made sense here. I'm temporarily overwhelmed with NinjaTrader/Kinetick + New Markets + New Instruments and if possible, I'd like to simplify the process of organizing this monster - tip: I think visually and I like pictures... if that helps.

Why change what you are doing.

If you just want to learn new stuff that is fine and a good thing to do.
But don't be fooled by one trade that all is golden.

All trades in new markets / tools / instruments should be sim for a while.

Continue to do what you were doing with live trading on the platform and methods you used.
(if it ain't broke, don't try and fix it)

Everyone I have known that 'got lucky' has lost all or more than they gained in a few months.
Don't add to that statistic.

FWIW

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
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  #5 (permalink)
Trading Apprentice
Los Angeles CA
 
Futures Experience: Beginner
Platform: fxTrade, MT4
Broker/Data: Oanda
Favorite Futures: Forex
 
Posts: 3 since May 2014
Thanks: 15 given, 1 received

ChristosZora, I usually risk 2% and have wildly varying r:r - the why of which, I don't understand. I use my full NAV on each trade, if that helps.

DavidHP, thanks for that. I don't have any kind of a support network so everything I do is in my head which is an interesting place on the best of days. I've traded GU all year and it just finally started moving with some noticeable structure, which is nice. But it's been a tough year otherwise.

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