About this blog

This blog was started as a whirlwind. So these objectives are laid out on the top as a reminder to me and for you to remind me. These objectives will change accordingly. Do praise or criticize me for keeping to my plan or deviating from it. This is the start of accountability to my plan.

There are Twitter updates, if you are my friend please identify yourself when you add to your follow list.

Long term objectives
1. To be financially independent so that I can free my time in devoting to God and Family.
2. Money is for memories. I want to take my Family to Disneyland in 2014. I want my daughters to remember this for life. I can also take this to my grave.
3. Trading as a vehicle to secure my daughters' future education requirement.
4. Continued learning/evolution of myself and the markets.
5. This is not for fun, it is a means for an end. Be very ruthless!

Monday, July 6, 2009

A new week and new ideas

I'll update the ES chart and my limited views in a subsequent post.

Today, I'll SIM trade 6E, the EURUSD futures for 30 trading days excluding Sunday. I am trying the 5 min IB for 2 market openings and see which works best.

My test as usual will involve the 1st 5 min bar of the OR; Opening Range. Place OCO stop limit orders 2 ticks above/below bar high/low. Each entry will have 3 contracts in this forward test.

The objective is to test 3 levels of 1/1 R/R ratios. 10, 20 and 30. To find the optimal R/R for the 5 min IB trade. 2 bars involved in this test is 0305h EST bar and 0805h EST bar corresponding to the European and US market open.

Next is also to test the 30 min IB, the 0335h EST bar and the 0835h EST bar.

So 4 entries daily and after 30 days, I will have the results dissected and a conclusion finalized if I could accept the trade parameters.
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