Grants Journal [Awarded Title: Guru of the Gurus]

[Darren]

If you could just place one trade a day, imagine if they could always be like that one! (wd)

[Grant]

Evening,

Some trades from this week attached, some good results, some poor results, some could have been better results....

Above all though they all followed the rules as i trade which is what i look for.

have a great weekend all
Grant

[Grant]

Evening,

first day of trading this week due to work. Couple of m1 trades that saw me just the right side of BE for the day

1. EU S1 -1 pips (-0.15%)
2. GU double seed just after US news (7 + 0) / 2 = 3.5 pips (0.5%)

big news events both thurs and friday so will be looking but only taking the best set ups..

cheers
Grant

[immy]

Evening,

first day of trading this week due to work. Couple of m1 trades that saw me just the right side of BE for the day

1. EU S1 -1 pips (-0.15%)
2. GU double seed just after US news (7 + 0) / 2 = 3.5 pips (0.5%)

big news events both thurs and friday so will be looking but only taking the best set ups..

cheers
Grant

Nice Trading matey!

[Grant]

Morning,

Half term is over (Yay!!), so my wife and kids are back at school/work.

Whilst off last week i had a chance one night to review my trading and evaluate how its all progressing. After looking at the last few months results since starting the half close routine it, i am still very happy with how the system and rules are holding up to the changing fx market landscape.

However, when i looked closer at these results, if i had left the entire position open (not close half @1:1) my % gain would have been a lot better.

For example January :

with part close +20.43%
without part close +40% ish. All BE trades were treated as losses and given -1%

So even with the BE trades being treated as losses the results could have been twice as good.. Bearing this in mind i will try and do the same in my live trading for the next couple of weeks and see how it goes...

So this am despite being on call i managed a lovely GU m1 At LO. (pic attached)

cheers
Grant

[Nikita]

Almost impossible to see such numbers! Amazing trades!
I was really thinking about such way of trade, but decide to take a few pips out of any trade. But looked I your statistic I understand, that I m just not ready for such risk, as I have I lot rent in compare with you.
Wait for results of your research! May the pips be with you!

[immy]

Morning,

Half term is over (Yay!!), so my wife and kids are back at school/work.

Whilst off last week i had a chance one night to review my trading and evaluate how its all progressing. After looking at the last few months results since starting the half close routine it, i am still very happy with how the system and rules are holding up to the changing fx market landscape.

However, when i looked closer at these results, if i had left the entire position open (not close half @1:1) my % gain would have been a lot better.

For example January :

with part close +20.43%
without part close +40% ish. All BE trades were treated as losses and given -1%

So even with the BE trades being treated as losses the results could have been twice as good.. Bearing this in mind i will try and do the same in my live trading for the next couple of weeks and see how it goes...

So this am despite being on call i managed a lovely GU m1 At LO. (pic attached)

cheers
Grant

Grant,

Thank you very much for sharing this information. Its really powerful stuff. and this trade, man its amazing! where else can you grow your account by 5.4% in a matter of minutes?

cheers

[Grant]

TBH Immy i didnt believe the difference until i had checked it twice. I thought the result would be better but double!!!

We have come a long way from chasing 10 pip scalps chinaman style....

Grant

[immy]

TBH Immy i didnt believe the difference until i had checked it twice. I thought the result would be better but double!!!

We have come a long way from chasing 10 pip scalps chinaman style....

Grant

I always thought we were at a disadvantage based on my own testing and results but I still think its good for beginners as there is a plus side to it and that is to do with the mind. New traders may still find it easier to handle when they have closed half and managing a free trade. We all have different heads, personalities, risk tolerance et cetera. But I think I agree with you, for you at least, not closing part and getting that 40% a month would certainly be a better option.

Yes we have come along way. the 10pip scalps did help though. Remember the anxiety and the emotions? haha

[Dave]

Morning,

Half term is over (Yay!!), so my wife and kids are back at school/work.

Whilst off last week i had a chance one night to review my trading and evaluate how its all progressing. After looking at the last few months results since starting the half close routine it, i am still very happy with how the system and rules are holding up to the changing fx market landscape.

However, when i looked closer at these results, if i had left the entire position open (not close half @1:1) my % gain would have been a lot better.

For example January :

with part close +20.43%
without part close +40% ish. All BE trades were treated as losses and given -1%

So even with the BE trades being treated as losses the results could have been twice as good.. Bearing this in mind i will try and do the same in my live trading for the next couple of weeks and see how it goes...

So this am despite being on call i managed a lovely GU m1 At LO. (pic attached)

cheers
Grant

Good post Grant, and something I’ve also been thinking about lately. The biggest issue in my mind is that by closing 50% of our position on winning trades we’re effectively halving the potential profit. But when we take the full rent hit it’s at 100% of position. This in itself isn’t a problem, so long as when the free trade is achieved we genuinely give it a proper chance to run, but to just trail the position on the current timeframe as you ordinarily would even if you hadn’t closed 50% seems to be doing ourselves a disservice.
Obviously the greatest benefit of closing half is to negate any risk and make it truly stress free, but if you have the fortitude to just suck it up and be cool in any situation then in my opinion that’s much better, and your research supports this.
I’ve struck a bit of a happy medium with my management and that’s not to set a hard and fast rule of closing 50% at a take profit equal to the stop loss, but rather being aware of when the free trade is met and then giving the position a chance to keep going if it wants to. So often my close 50% is greater than my stop loss, especially if a trade really bolts! And then I manually close half when I start getting the urge to take something off the table and see what the remaining half wants to do. For now this works well in achieving my goal of letting positions run a bit longer, and when we hit a genuine impulse wave I’m happy not to choke half of my position with a 6 or 7 pip take profit, knowing true W3s are in the order of 20 or 30 pips.
Anyway, good post mate, good food for thought. I just need to grow the b@lls to sit and let a trade mature at full risk!