My GBP Trading recommendations & Journal

[cementman]

First of all alsalmo alikom ans orry for writing in english but i'm too slow in arabic so I'd appreciate if some one could translate this so that all of you get the benefit of it.

I hope you don't find this boring but I'm giving here my years of experience so even if you don't entend to follow the signals you'll find it informative and you might find answers to things that been in your head and know body dares to talk about it so my advice to you is to read this it might change a lot of the way you think in your trading.

I mainly trade GBP/USD and GBP/JPY(why would I look for others if they are giving me enough pips)

•My initial SL for the G/U is 100 and for G/J is 150.

•I'm a swing trader that's why my stops are a little big, i have 2-3 trades for each pair on average, so if my stops or trading style don't suit you please don't follow.

•I divide my position to 3/3 the first target is @ 50 pis profit 2nd @ 100 and the 3rd is open until I have an opposite signal or smell a rat

•Some times I start the position with only 1/3 and start buying another one(in case of long position and the opposite for short)after the market is against me or in favor by 30-50 pips..and that's not adding to a losing position(caz your SL doesn't change and in the same place for all) that's averaging if my stop got hit I'm out. so be with me when I say I'm buying just 1 or 2 or what ever.

•I started these recommendations in other forums 2 weeks ago with 6000$ so that I'd be able to start with 3 mini lots which is 5% of the account(1:100)
so I'd be showing pictures of this account to show how much we did at the end of each week.

•I'm doing this as a sign of gratitude to the people who I've learned from and inspired me with a lot of great ideas to improve my trading style, not only here but in other great forums 2 every and each one of them added to my knowledge and I'm saying trading style caz it's not really a system it's a style,
that's why I can't explain it here, I know that some people will say why don't you tell us your system and I'm answering now caz it can't be just told it should be mentored until its a second nature and maybe first, and it takes time that's why its a style.

•Some times I will not be here(that's why you don't see much post for me here or on any other forums though I've been a member years ago) so forgive me caz though I'm a full time trader and i trade for a living I learned that if you're in a bad mode or you don't feel like it today go do something else instead of losing your money caz your first target is not to lose money and the second is to make it ..Believe me it saved me a lot.

•Since I'm doing this out of gratitude I don't like people who comes to threads with there negative attitude God knows that I've seen a lot of people here and there and i know they're losers or they're snake oils but I don't like it i just leave maybe some people will get some good out of it, so if you don't like it here just leave it's my trading journal I don't have to prove anything to anyone.

•Some of the trading methods I've seen is not realistic like trading zillion pairs and on the same time or trading with 90-100 % of the account on one trade and the others show some scalping experts on 1m and it would make you a million $ in a month starting with only 22 cents or what ever .. This is bullshit I know people who trades 1:1 and even they wouldn't dare to put there eggs in one basket , also I don't believe in experts(sorry guys I know there are great programmers here but I only trust my manual trading and I have to be the one who push the buy or sell button)specially if you're trying to scalp the smaller time frames the retail brokers that most of us individuals deal with will either stop you or eat you alive until they squeeze your last $,I'm not saying also to trade 1:1 and lose one of the best advantages in the forex world I'm a moderate trader who trade with 1:100 , with 5-10% of my capital , with a good trading style , good risk and money management and ends up with 5-40% some times at the end of the month trading no more than 2 pairs and why should I trade more if these are making me money with less headache .. so what else could I hope 4..what could any of us hope 4 ..I'm just one of you(I'm feeling like I'm running for presidency with these sentences )

•A lot of times if I made my target which is 100 pips a week I close all my positions and enjoy my time..so if you saw me done by Tuesday that's it don't wonder. I've seen people do hundred pips in one day and they were stupid enough to spend the rest of the week losing it and maybe some more , so again what more could you possibly hope 4 you've done about 3-5% on your money in one day don't through that a way just because of the fun and the sake of adrenalin in your blood , don't go spit in your hands every day with a big cup of coffee beside you and say ok lets trade and go get them ..the market will be here days after you like it was days before, so slow down what keeps you from being a millionaire is only you trying to do it so fast that you make mistakes prevent you from ever being while if you would've done it just a little bit slowly and using your brain you would of done it in few years.

•Now for the last thing caz I don't like to talk a lot(Boy.. for some one who never liked to write and didn't had much posts this sure is a loooooooong post ).who I am? I'm a guy who's my first language isn't English by the way so forgive my typos, I was an architect till 1998 I've started trading stocks and I've started to take courses and read every book I can lay my hands on and even traveled overseas to learn and spend a fortune on learning caz trading is like any other business you have to spend money to get revenues , any way I switched to futures at 2001 and after a year I heard about forex and started trading it at 2002 beside the futures and after a while I began concentrating on forex mainly and now I trade forex and future currencies and in all that path as usual I've blown some demos and couple of real accounts and it was normal and a part of each trader learning cycle when he enters a new market , now one more thing if I gave a signal and you didn't see it until later on and you find that the price had made first target which is about 50 pips never do that trade even if it comes back to the signal price and also if I gave a signal and it moved 20 pips or so don't say it doesn't matter caz you'll have to put your SL at the same point as me but if the market go against my position I'll be losing 50 and you'll be losing 70..the only case that you could still do the signal is if I gave the signal and the market go against me instantly and you could get the trade for a better price in that cas if I lost I'll lose 50 and you'll be risking 30 or what ever.. don't bend the rules I'm giving you 9 years of experience to avoid my mistakes the moment you'll feel confident and say that I'm sure of that one and I'm going to load the boat on that one most probably it's going to be the losing one that get you all the way back to zero point I've seen statements with hundreds of winnings and 4 losers again 4 losers that blow the whole account , also I've seen accounts went from 10,000 to 120,000 in 5 months and ended with a margin call in less than 2 weeks…this is not trading this is gambling and the casinos always win and if there is professionals here and I'm sure there is they'll know what I'm talking about , they'll know that if you apply for a trader job in a reputable place they'll ask you for a track record and when they have it they have people to analyze it they look for your risk in each trade and your management to the account and most important your CONSISTANCY , they're not interested in one who makes 100% in one month and lose them or lose even 70% in the second one they don't like sudden falls and collapses they look for people who make 5- 10- 7 that kind of percentages each month and if he had a losing one it should be contained in 2-3 max. look at the performance of the big funds they're making 30-40% yearly have you ever asked your self why? Caz they limit there risk and it's a lot more harder to manage billions caz you have to have a certain technique to get out of your position caz when you do with these kind of money you actually move the market against you so if you losing you'll lose more and if you're wining the market has to move way out of your average so that when you get out you still ends out wining..look at the futures you'll see in the daily reports that funds had bought for instance 10,000 contracts and commercials had sold 4,000 and the next day funds are buying 6,000 and commercials are selling 2,000..see what the funds are doing which is where the big money is, they're getting out of there positions but they can't do that buy selling each day 10,000 lots or contracts or what ever caz the market will fall and it will move against them and instead of ending the year wining they'll lose so this is there technique and there is others using options 2 if you know where to look..any way I'm telling you all that not because I read it in an article but because I learned it the hard way and I was there I was a trader for a one of these companies dealing in the futures market, and because of being lazy as if you didn't already figured that out I left it and I like working for my self doing the money I want with out any one telling you to wear a tie or where had you been you're late..see that’s why when I make my weekly target I stop..and here I stop.

[cementman]

Besm ellah..nabda2 insha'allah

Sell 1 lot GBP/USD @ 1.9992 and 2 @ 2.0002 SL for all positions if triggered @ 2.0092 ..Leave TP open for now.

[أسامه عبده]

Dear cementman

I have read every single word of your looooooong thread, and I really found it very useful. It shows that you have good experience and wise mind.

I really liked what you have said and I wish you can split such useful knowledge and experience in several short articles with different topics instead of having them all in one looooooong article.

This will help others to make the best out of it. And of course it will be preferred if you write it in Arabic since most of the members can’t read English that good.

Wish you all the best in your recommendations, and we are proud to have you as a member of our forum.

[شريف دعبس]

و عليكم السلام و رحمه الله و بركاته
كلام جميل بس احب اسجل اعتراضى على تللك الكامات
1-This is bullshit لا تليق كلمه لا يجب ان تكتب فى المنتدى
2- swing trader محتاجه توضيح كيف تكون سوينق و اهدافك 50 و 100 و تكتفى 100 فقط فى الاسبوع محتاجه شرح ( يعنى جنى ام تحريك استوب ام ماذا)
3-signals & recommendations الافضل شرح طريقه او تحليل مرفق بتشارتات( اسباب الدخول و الخروج)
تحياتى

[cementman]

عزيزي ابوعاصم..انه لمن دواعي اعتزازي ان انتسب لمنتداكم الموقر و ان تقوم شخصيا بالرد على موضوعي المتواضع و ساحاول جاهدا الكتابة بالعربي وان كنت ارجو من احد الاخوة ان يقوم مؤقتا بالترجمة لتعم الفائدة لأني اعلم ان الكثيرين قد لا يهتموا حين يجدون الموضوع بالانجليزية ساحاول جاهدا ولكن ليس قبل نهاية الاسبوع لتقسيم الموضوع كما نصحت..فلا تعرف مدى المعاناة والوقت الذي اتكبده لكتابة هذين السطرين..وبالرغم من حبي للغتي العربية الا اني اقول لاخوتي ان اول مراحل بذل الجهد في العلم و حتى لجني ارباح هذه التجارة الا اتقاعس عن تعلم لغتهم فمن تعلم لسان قوم امن مكرهم على الاقل لاعرف ما اقوم بالتوقيع عليه عند فتح حساب والذي رايت الكثيرين يقومون بالتوقيع لان فلان قال له وقع هنا..وكذلك لمعرفة الاخبار..على كل حال ساحاول ولكن كما ترى ان لي قلىل من المشاركات بل اكاد اقول نادرة..لاني منشغل بالتجارة الحقيقية اكثر من التواجد حتى ان كثير ممن يعرفوني يعلمون اني لا اقوم بالرد على الهاتف او الماسنجر حتى نهاية اليوم حتى لا اخرج من التركيز الشديد و لكني ساحاول..شكرا مرة اخرى و مع اصدق امنياتي بمزيد الازدهار لمنتداكم العامر.

[cementman]

cancell all the sell orders for G/U for now this train had left without us gentlemen. lets seemaybe we can stll ride the G/J down from a good point.

[cementman]

و عليكم السلام و رحمه الله و بركاته
كلام جميل بس احب اسجل اعتراضى على تللك الكامات
1-This is bullshit لا تليق كلمه لا يجب ان تكتب فى المنتدى
2- swing trader محتاجه توضيح كيف تكون سوينق و اهدافك 50 و 100 و تكتفى 100 فقط فى الاسبوع محتاجه شرح ( يعنى جنى ام تحريك استوب ام ماذا)
3-signals & recommendations الافضل شرح طريقه او تحليل مرفق بتشارتات( اسباب الدخول و الخروج)
تحياتى

Dear brother first i had this copy and paste from another thread i started in another foriegn forum its me also who wrote it but i forgot this word..and because i have limited time i will not be able to answer questions until the weekend, so please follow the recommendations if you want from now and i'll try to answer every thing when i have time at the weekend.
second and third if you read my words carefully you'll see that my first target is 50 then 100 then trailing..also what is the definition of swing trader and who said that its defined by points..if you stayed in a trade for a week or more and at the end you got out at break even does that make you an intraday trader or you're still swing trader it's not by target believe me..also as i said it's not a signal system like most of the people describing in other threads so i can explain or show charts its a discretionary style..i hope that helpsand thank you for your contribution.

[cementman]

sold 2 lots G/J @ 239.21 SL @ 240.71 our first TP is @ 238.71

[cementman]

sold another 2 lots G/J @ 239.42 with the same SL

[cementman]

Take profit for the second 2 lots(sold @ 239.42) @ 238.92 and leave the first 2 open for now.

[cementman]

we got out of the second 2 lots with 50pips*2=100 pips = 83$
and the other 2 lots are still open.

[X-Master]

Cementman,

Thanks first of all for your article, although it requires a little bit of organizing (but that’s okay).

Cementman, since you have a long experience in your trading, I would like to ask you three simple questions, which are as follows:

What is your “recent” average drawdown for the last 3 months…

What is your “recent” average success percentage of your “STYLE” (as you call it)?

What is your profit factor?

That’s all... and leave the answers to the weekend as you like, although I think that they won’t take a long time to answer according to your experience…

You may even consider the answers as privet information….that’s up to you, but if you wish to answer, that would be helpful to the Arabic Trader members “in general”.

Kind Regards,
X-Master.

[cementman]

Cementman,



Thanks first of all for your article, although it requires a little bit of organizing (but that’s okay).

Cementman, since you have a long experience in your trading, I would like to ask you three simple questions, which are as follows:

What is your “recent” average drawdown for the last 3 months…

What is your “recent” average success percentage of your “STYLE” (as you call it)?

What is your profit factor?


That’s all... and leave the answers to the weekend as you like, although I think that they won’t take a long time to answer according to your experience…

You may even consider the answers as privet information….that’s up to you, but if you wish to answer, that would be helpful to the Arabic Trader members “in general”.


Kind Regards,

X-Master.

Thank you for your contribution X-Master and to answer you r questions,

1-there is maximal drawdown wich is the money you were down from your initial capital and didn't exceed 5% and there is relative drawdown wich is the money you were down from your initial capital + profits at a point of time and this could go all the way to 10-15% but generaly as i said in my first post i don't allow my self to lose more than 5% in a day and 10% in a week and 15% in a whole month and thank God it never happened at least in the few past years maybe in the beginning of my career when i didn't have a certain plan..so if i had a loss more than 5% in aday i stop and the same for the week and month and go do something else until my mind is clear and also if it went the other way..i mean if i already made my 100 pips target or my money target for the day or week i stop also..but some times i leave a position or 2 running and trail them but only after i secure my target so it go both ways if you know what i mean i have a plan for wining and losing and the most important thing in trading is to have a plan and write it down so you could commit your self to it..to make a long story short i only had one losing month and it was about 2% in the past years and that was during some circumstances that i only traded few days and i didn't trade the full month to end up a winer also i'm sorry i don't trade metatrader platforms unles its one of my clients and i have to..but i do my analysis on it,so thats why i don't have the statics that shows up in the metatrader like drawdowns and profit factor i'm answering you honestly only from my memory.

2-My average succes(lilah alfadl wa almenah) was from 5% up to 40% in my personal account monthly..but some of the people i trade for sometimes ask for more aggressive trading so i open it up a little and i do a lot better percentage and i mean a lot i have statements that went from 300,000 to 1,200,000 but in the futures market and that was during my job as a trader in the company i've talked about in my first post..and i have other things to do sometimes i'm teaching people some time i'm studying my self or as i told you i spent a month at the states taking a trading course and i might travel again to apply for series 3 license or working in a company , so all of that sometimes keep me from trading my personal account and sometimes i'm trading for people or giving advice and recommendatios like now ..but most of all sometimes i don't feel like trading or i'm in a bad mode and let me tell you something that my mentor once told me if you had a fight with your mother in law or you had an accedent or a bad traffic day even..just don't trade most probably you'll lose trading needs focus i for myself have a trading din and i keep a bed in it and no body is allowed to enter or disturbe until i walk out even my phone is switched off most of the time..please try my advices it will help you a lot in your trading these advices i payed money for.

3- As for the profit factor i don't have a statement like the one in metatrader that shows a number like 3.2 or 2.1 but i can tell you roughly from the memory also i have 2-3 losing ones every 10 so you figure it out i'm not saying that to tell you that i'm good but as i said also in the first post i don't rush the trade to happen if every thing doesn't look perfect i just walk a way from the screen but i never twist it jsut to trade, and thats why sometimes a few good trends skip away from me but i never regret it caz to miss a trade is a lot better than to jump in a losing one like releasing 1000 criminals is better than to send one inocent to jail..see thats a part of the style, fighting your human nature its phsycology and there is a lot of good books on that subject but its a shame that most of people don't read they only want to know a system and to make money fast but what they don't know that these subjects like money and risk management and phsycology is 80% of your succes and the trading system is 20% and even that depend on the trader by 10% at least so thats why you give the same system to 2 traders one of them will blow his account in a month and the other will come thanking you because he became a millionair after a year or so..not only one could be a trader thats why when you work for a reputable company and they put you in assesment center they study every thing about you,your IQ your handling to problems under pressure and a lot of stuff and when you're done you'll find that a lot of the people you thought you were sure that they'll get the job is back in the street and you succeeded.

I know i write a lot but i want to pass my experiences to the people caz i see a lot of wrong thoughts and there is no one to say guys stop this is not the right way i hope that more and more people read this and one day say that a guy called....told us that a time ago (Gazah allh 7'ayran).

[Rally]

اخي العزيز ...

بالبداية اشكرك على حرصك على نقل خبرتك وعلمك الى اخوانك فشكرا جزيلا.

لقد قرأت مشاركاتك بالامس ولكن لم استطع الرد عليك ، وقد انتظرت ردك على الاخ الذي سألك مؤخرا لانه لخص بعضا من الاسئلة التي كنت اود ان اطرحها عليك فالشكر موصول له ....

انت بالنهاية لم تقل لنا ما هي طريقتك وانا مقدر لذلك ، وقد فهمت منك انك تركز على ادارة المال والمخاطر بالدرجة الاولى لانها تشكل 80% من النجاح ، ولكن هل تعتمد على التحليل الفني في الدخول والخروج ام على التحليل الاساسي ام كلاهما ؟؟

ما هي الكتب والمصادر التي تنصح بقراءتها والتعلم منها ؟
هل هناك دورات معينة وتكون اون لاين نستطيع ان ناخذها ونستفيد منها ؟

طبعا بحكم خبرتك الطويلة ما شاء الله وقرائتك للكثير من الكتب وحضور الكثير من الدورات اسألك ان تعطينا الافضل .

ماذا تعني بنسبة 5% خسارة من الحساب في الاسبوع الواحد او 15% بحد اقصى بالشهر الواحد ؟؟ هل تعني بذلك كمية الدولارات التي لن تخسر اكثر منها ام هل تعني كمية المارجن المحجوز الذي ستدخل فيه من اصل الحساب ؟

ما هو اقل مبلغ يستطيع الشخص ان يبدأ فيه في الفوركس سواء بحساب عادي او مصغر ؟

اخيرا ما المقصود بـ Series 3 هل تقصد بها الشهادة التي تقدمهاNational Association of Securities Dealers - NASD ؟؟

هل هناك شروط للحصول عليها كأن تكون صاحب خبرة او مؤهل اكاديمي عالي ؟؟ هل تختص بالعملات والهدج والسيكيوريتز ام تشمل الاسهم ايضا ؟

[cementman]

close the 2 first lots with a small loss @ 239.39 (-18*2= -36 pips= -29.97$)