Michael Dunbar's Daily System Trading Journal

[awilcox]

i'm apprehensive about doing this, but figured some accountability to those in the know would be helpful as i embark on using this daily system. anyone who is interested in the system can email me at awilcoxphd@gmail.com and I'll send you a copy of Michael's pdf. Since I work full time in a highly stressful and very time consuming profession, a daily system seemed more likely to jive with my crazy schedule.

i've "messed with" forex for years. i've taken rob booker's course among others and never been able to have much success, mostly due to a lack of discipline on my part, a tendency to want to overtrade, and an inability to be consistent. so those are the issues i've been working on lately, and am working on now, and i'll share my results here good or bad.

i don't have time to post daily, so i'll probably post sundays as that's when i'm likely to have a consistent break.

i've tried a ton of different ea's and none are particularly impressive imho. i do have fapturbo running on my account now with very small risk levels, and i'll indicate which trades are ea trades and which are daily system trades.

i'm using forex.com as a broker through their UK office. my account is a mini/micro with .01 lot sizes. i'm located in the central time zone of the US.

i'll appreciate help and feedback always!

best,
hadley


8/2/09-8/8/09:

2009.08.05 01:24 sell 0.01 cadjpyfxf 88.88 91.32 86.38 2009.08.05 12:39 88.40 0.00 0.00 0.00 5.04 (MD daily system trade)

2009.07.31 20:00 buy 0.01 eurgbpfxf 0.8533 0.8369 0.8589 2009.08.06 14:09 0.8537 0.00 0.00 0.11 0.67 (fapturbo trade)

2009.08.06 14:11 sell 0.01 gbpjpyfxf 160.59 163.10 159.59 2009.08.06 17:28 160.48 0.00 0.00 0.00 1.15 (personal trade based on retracement)

2009.08.06 03:03 sell 0.01 gbpjpyfxf 161.17 162.00 159.00 2009.08.06 06:27 162.00 0.00 0.00 0.00 -8.71 (personal trade)

2009.08.05 01:27 buy 0.01 usdcadfxf 1.0725 1.0630 1.0819 2009.08.07 03:27 1.0766 0.00 0.00 -0.08 3.81 (MD daily system trade)

2009.08.05 13:26 buy 0.01 eurcadfxf 1.5462 1.5190 1.5590 2009.08.07 11:41 1.5590 0.00 0.00 0.20 11.78 (MD daily system trade)

2009.08.06 14:02 buy 0.01 usdchffxf 1.0677 1.0583 1.0737 2009.08.07 12:30 1.0583 0.00 0.00 0.01 -8.88 (MD daily system trade)

2009.08.07 12:34 buy 0.01 usdjpyfxf 95.87 0.00 0.00 2009.08.07 12:36 96.21 0.00 0.00 0.00 3.53 (MD daily system trade)

2009.08.07 14:23 buy 0.01 cadjpyfxf 89.67 86.54 91.25 2009.08.07 16:57 89.95 0.00 0.00 0.00 2.87 (MD daily system trade)

2009.08.06 14:04 sell 0.01 audusdfxf 0.8383 0.8470 0.8253 2009.08.07 20:49 0.8372 0.00 0.00 -0.08 1.10 (MD daily system trade)


total: +12.36 week one

[Forex37]

Great idea to have a journal on this method. Still I would like to point out, that Michael Dunbar was the writer of the ebook, but the actual method was called Daily Fozzy, developed by Fozzy, stewardship of Beachbum, with a loooong threads and loyal following over at FF. Daily version, 4hr version and nice indicator/EA available - albeit no creations from master programmer SwingMan.

I'm sure, this will be an interesting read. Thanks

Forex37

[awilcox]

thanks so much forex37 for clarifying that! i didn't know!
so i guess when i list the trades, i'll just put DS next to the daily system trades and not ascribe a "founder" to them!!

i appreciate your support! thanks again,
hadley

[awilcox]

hi,

i'm posting this now because i'm done for the week. i have one trade open that will hold for awhile, but fridays being what they are, i've got most trades closed out now.

6684649 2009.08.14 13:45 sell 0.01 gbpjpyfxf 157.10 0.00 156.29 2009.08.14 14:01 156.55 0.00 0.00 0.00 5.82 manual trade by me (retracement trade)

6635464 2009.08.13 01:13 sell 0.01 usdchffxf 1.0754 1.0884 1.0645 2009.08.14 13:45 1.0700 0.00 0.00 -0.05 5.05 dtrade signal

6671948 2009.08.14 02:54 buy 0.01 nzdusdfxf 0.6803 0.6608 0.6893 2009.08.14 13:44 0.6840 0.00 0.00 0.00 3.70 dtrade signal

6632738 2009.08.12 22:55 sell 0.03 eurusdfxf 1.4211 1.4275 1.4151 2009.08.13 09:16 1.4275 0.00 0.00 0.00 -19.20 megadroid ea trade

6613937 2009.08.12 13:46 buy 0.01 gbpjpyfxf 158.42 0.00 159.00 2009.08.12 14:06 159.00 0.00 0.00 0.00 6.04 dtrade signal

6498412 2009.08.07 01:48 sell 0.01 nzdusdfxf 0.6699 0.6850 0.6625 2009.08.12 06:35 0.6625 0.00 0.00 -0.29 7.40 dtrade signal

6583786 2009.08.11 14:59 sell 0.01 gbpjpyfxf 158.21 159.31 157.31 2009.08.12 04:43
157.31 0.00 0.00 -0.05 9.43 dtrade signal

6498394 2009.08.07 01:47 sell 0.01 gbpchffxf 1.7855 0.0000 1.7755 2009.08.11 11:53 1.7822 0.00 0.00 -0.05 3.05
6560683 2009.08.10 22:00 sell 0.01 cadjpyfxf 89.20 91.25 88.10 2009.08.11 10:09 88.10 0.00 0.00 0.00 11.38 dtrade signal

6479905 2009.08.06 13:08 sell 0.01 gbpjpyfxf 161.31 163.51 158.26 2009.08.11 00:37 160.12 0.00 0.00 -0.22 12.27 dtrade signal

0.00 0.00 -0.66 44.94
Closed P/L: 44.28
Open Trades:
Ticket Open Time Type Size Item Price S / L T / P Price Commission Taxes Swap Profit
6648804 2009.08.13 11:57 buy 0.01 audusdfxf 0.8435 0.8174 0.8667 0.8396 0.00 0.00 0.04 -3.90
0.00 0.00 0.04 -3.90 dtrade signal
Floating P/L: -3.86




this was a good week, and i spent little time at the computer, basically an hour a day checking in in the morning and setting any trades at night.

i took megadroid off my account. it has had some good trades in the past but the losses are too large when they happen.

we will see what next week brings!
hope everyone has a good weekend!

hadley

[awilcox]

it occurred to me that it might be more helpful if i posted the trades when i see them and take them.

i'll try to do that when i can.

there's nothing inspiring tonight other than maybe a short eur/usd trade. i'll post it if i take it.

thanks,
h.

[awilcox]

sell eur/usd 1.4178 TP 1.4078, SL 1.4260 (70% ATR 117)

[awilcox]

absolutely nothing (i can find) of real interest tonight other than a usd/chf buy trade which i got into too soon, but which will hopefully produce some pips over the next few days.

i bought the usd/chf at 1.8016 (8pm est would be a better time to enter this if you decide to try it) with a TP of 1.0916 and SL of 1.0746. it is currently trading at 1.0779.

the eur trade last night went right to the TP of 1.4088.

am still in an aud/usd trade from last week that is proving to have been a bad decision, but will stick with it this week and see if it improves.

i currently have a couple of scalping trades from FAPTURBO EA. will report on those at the end of the week.

GL and GT,

hadley

[awilcox]

re-entered long usd/chf at 1.0786 TP 1.0870 SL 1.0700

[awilcox]

well the week was up a tiny bit. The "if you fail, try try again" strategy was NOT a good one with the usd/chf.
having gotten stopped out once i should have stopped. that's my problem not the daily system's. but having to own my problem here makes it less likely i'll repeat it. i think. i hope.

overall, i'm pretty darn happy.

i like the system, there weren't many trades on it last week and i took a couple on my own little ride the gbp/jpy up and down which worked out fine. i'll keep the robots running for at least a month, anything less isn't a fair trial.

good weekend, gl and gt to all,
hadley


icket Open Time Type Size Item Price S / L T / P Close Time Price Commission Taxes Swap Profit
6791881 2009.08.19 13:39 sell 0.01 gbpjpyfxf 154.12 0.00 153.72 2009.08.21 05:01 153.72 0.00 0.00 -0.11 4.27 my trade
6809194 2009.08.19 21:42 sell 0.01 eurchffxf 1.5163 1.5332 1.5115 2009.08.20 09:39 1.5167 0.00 0.00 0.00 -0.38 fapturbo
6813188 2009.08.20 00:25 sell 0.01 usdcadfxf 1.0958 1.1108 1.0913 2009.08.20 01:45 1.0952 0.00 0.00 0.00 0.55 fapturbo
6811527 2009.08.19 23:46 sell 0.01 gbpchffxf 1.7627 1.7785 1.7580 2009.08.20 01:08 1.7623 0.00 0.00 0.00 0.38 fapturbo
6812024 2009.08.19 23:56 buy 0.01 usdcadfxf 1.0947 1.0796 1.1007 2009.08.20 00:25 1.0958 0.00 0.00 0.00 1.00 fapturbo
6808060 2009.08.19 21:01 buy 0.01 usdcadfxf 1.0945 1.0791 1.0994 2009.08.19 22:08 1.0951 0.00 0.00 0.00 0.55 fapturbo
6750832 2009.08.18 12:24 buy 0.01 usdchffxf 1.0786 1.0700 1.0870 2009.08.19 14:01 1.0700 0.00 0.00 0.01 -8.04 daily system
6791830 2009.08.19 13:37 buy 0.01 gbpjpyfxf 154.28 0.00 154.50 2009.08.19 13:45 154.50 0.00 0.00 0.00 2.34 my trade
6769943 2009.08.18 23:58 sell 0.01 eurgbpfxf 0.8539 0.8695 0.8479 2009.08.19 08:30 0.8581 0.00 0.00 0.00 -6.90 fapturbo
6771457 2009.08.19 00:45 buy 0.01 gbpchffxf 1.7786 1.7626 1.7841 2009.08.19 04:21 1.7785 0.00 0.00 0.00 -0.10 fapturbo
6766231 2009.08.18 22:32 sell 0.01 eurchffxf 1.5203 1.5369 1.5161 2009.08.19 01:16 1.5203 0.00 0.00 0.00 0.00 fapturbo
6767374 2009.08.18 22:58 sell 0.01 usdcadfxf 1.1016 1.1179 1.0972 2009.08.19 00:22 1.1011 0.00 0.00 0.00 0.45 fabturbo
6768573 2009.08.18 23:48 sell 0.01 gbpchffxf 1.7824 1.7988 1.7768 2009.08.18 23:55 1.7814 0.00 0.00 0.00 0.93 fapturbo
6764592 2009.08.18 21:05 sell 0.01 eurgbpfxf 0.8536 0.8690 0.8493 2009.08.18 23:48 0.8533 0.00 0.00 0.00 0.50 fapturbo
6752318 2009.08.18 12:52 sell 0.01 gbpjpyfxf 155.70 0.00 155.04 2009.08.18 13:13 155.68 0.00 0.00 0.00 0.21 my trade
6734098 2009.08.18 00:19 buy 0.01 usdcadfxf 1.1064 1.0910 1.1113 2009.08.18 03:21 1.1064 0.00 0.00 0.00 0.00 fapturbo
6733826 2009.08.18 00:14 sell 0.01 eurchffxf 1.5183 1.5350 1.5140 2009.08.18 03:16 1.5183 0.00 0.00 0.00 0.00 fapturbo
6717573 2009.08.17 12:28 buy 0.01 usdchffxf 1.0816 1.0746 1.0916 2009.08.18 02:19 1.0746 0.00 0.00 0.01 -6.51 daily system
6730675 2009.08.17 22:12 sell 0.01 eurgbpfxf 0.8616 0.8774 0.8557 2009.08.18 01:20 0.8616 0.00 0.00 0.00 0.00 fapturbo
6732134 2009.08.17 23:09 buy 0.01 gbpchffxf 1.7609 1.7439 1.7662 2009.08.18 00:40 1.7612 0.00 0.00 0.00 0.28 fapturbo
6731614 2009.08.17 22:59 sell 0.01 usdcadfxf 1.1073 1.1230 1.1033 2009.08.18 00:19 1.1064 0.00 0.00 0.00 0.81 fapturbo
6720031 2009.08.17 13:46 sell 0.01 gbpjpyfxf 154.00 0.00 153.20 2009.08.17 15:28 153.86 0.00 0.00 0.00 1.49 my trade
6694519 2009.08.16 21:30 sell 0.01 eurusdfxf 1.4178 1.4250 1.4088 2009.08.17 10:19 1.4088 0.00 0.00 0.00 9.00 daily system
0.00 0.00 -0.09 0.83
Closed P/L: 0.74

[awilcox]

sell aud/cad .9044 tp .8954 sl .9104 currently trading at .9015

sell chf/jpy 88.67 tp 87.67 sl 90.37 currently trading at 88.64

sell eur/aud 1.7072 tp 1.6972 sl 1.7192 currently trading at 88.66

buy eur/usd 1.4290 tp 1.4350 sl 1.4252 currently trading at
1.4285

buy aud/usd .8435 tp .8867 sl .8119 currently trading at
.8368