Let's have some discipline

Happy Sunday everyone

I hope you enjoyed a nice weekend. In the coming weeks I wish to work on my personal discipline. I made a lot of adjustment lately on the account concerning which pair I’m going to trade and what time frames I am going to use. I made some changes on the money management and on the strategy itself too as I want to simplify the way it was working. I also set up a calendar to take note of my daily statistics.

All those adjustment took a little bit of the account equity. For now I really feel that all my stuff is good and nothing need to be change anymore. So all I need to do is stick to my plan and leave it untouched for a good moment.

I wish everyone a nice week ahead!

You can see my etoro profile for market update

Miguel Bousquet

Email : miguelbousquet1986@gmail.com

Setting up a personal account calendar

Setting up a personal account calendar

Today I am setting up a calendar for the account to have a better idea on how the account behaves when high importance news is release. I am doing to maximize profitability on the account and I really like how take note of everything can boost your confidence in trading!

Before I was using the result straight from my broker and I was doing it on a weekly basis which could be fine but could be wrong at the same time as I cannot see really well where it went wrong and have could do better result because of those subtle mistake. I am pretty sure I will be able to do less mistake with that calendar.If you want to set up your calendar i find my Excel monthly calendar template here.

Trading against the retail Forex market

Trading against the other retail trader or against the crowd is something that I did most of the time and I will always be doing it. I think it is healthy doing it sure it is not a certitude but when my strategy is against the crowd is it where it work the best. I always feel more comfortable in those times.  Just a little tips that I use!

You can see my etoro profile for market update

Miguel Bousquet

Email : miguelbousquet1986@gmail.com

Best time to trade!

Best time to trade!

Today I want to share with you the improvement that I will to bring to the account during the coming week. I want to improve the profitability of the account by focusing on the better day to trade during the week. So how it is going to work on the weekly basis on Sunday night I will open position on the weekly analysis only and on Monday to Thursday night I will open position based on my weekly and daily analysis. On Thursday night before Asian market session I will close all positions to go through Friday and the weekend without exposure.

Why I bring this improvement?

I came to this decision as I find out that I often lose money on Friday and by bringing this improvement I will reduce the risk exposure during the weekend. Sure I will have to pay the spread on position that I would have kept open before this improvement. But on good side I will cash in profit so it will produce a compound interest effect on the account has I will have a bigger equity on Sunday night.

I wish everyone a nice profitable week.

You can see my etoro profile for market update

Miguel Bousquet

Email : miguelbousquet1986@gmail.com

Lessons learn today…

Lessons learn today…

Today I lost around 7.00% on total equity (unrealised/realised equity) on the US fed interest rate decision. I made a big mistake on this one to thing that my long term position could not be affected on this risky event! So I assume my mistake and note it in my guide line book so this kind of mistake won’t happen again. And remember even if you are pretty sure of the outcome of the big new or event, the direction is not known yet!

It’s important to note your success and mistake!

I think by noting your mistake and success you will avoid making your mistake again and helping you to repeat your success. With discipline following your guide line and your plan that you have noted down you will be successful!

Have a great rest of the weekend

Miguel Bousquet

You can see my etoro profile for market update

Let this week begin!

Let this week begin!

Last week was an amazing week! I proved to myself that my stuff work on the real market, and want to continue this way! I want to thank my new copier on etoro @alervielma for his trust and hope you will give a chance to learn from me!

Let’s improve my stuff!

During the weekend I took time to analyse my last week even if it goes well it is not a reason to take it for granted, I always check the trade I did to see where it work and where it don’t. So during this weekend analysis I see that I could use one more time frame on my multiple time frame strategy to put all the chance on my side! If you want to know more on my strategy you can see this blog post My first blog post.

What’s coming for this week?

This week we have a high probality of interest rate raise by the FED on Wednesday so I will be look at the USdollar pretty closely!

You can see my etoro profile for market update

Have a great week everyone!

All the systems working fine!

All the systems working fine!

I have not much to say today, except that my system is finally working fine on the real market! I try not to be over excited about that, because too much excitation when trading can make you take bad trading decision!  I think it’s important to have this mindset when you trade.

I wish everyone a good rest of the week I will come back with more technical stuff later

You can see my etoro profile for market update

The power of backtesting

So today we will speak about back testing your strategy, I speak a little bit about it yesterday in my article on the stop loss setting.

Why back testing your strategy?

For my part I use back testing has it help me gain confidence in my stuff has i can confirm my idea on the market by using past market behavior. It can also save you a lot of time versus a normal live testing.  But always keep in mind that the past behavior of the market is not a guaranty of the future. This is why I recommend to do back testing on a regular basis and by doing it regularly you will become better at it too and the best part is that it is totally free to do it!

What to do when back testing?

The most important thing to do when back testing is to take note of everything you see. For myself I always had paper note book to write my stuff when I back test. You can leave note on the computer or anything as long as you take note its fine. Don’t do the mistake to leave it in your head as you will lose your idea or leave place to interpretation or distortion from your first idea!

Now let’s talk about how the week begins!

Last night I got a really bad sleeping night, has I enter the market with my improved strategy last Thursday, even if I got a lot of confidence in the practice mode with my strategy it put a lot of stress on me when I put new stuff on the real market! Even if it all working fine! I never find any way to deal with this stress in this 2-3 days period!

So for now my multiple time frame system that I explain a little here, is working fine and can wait to see where the market bring us!

You can see my etoro profile for market update