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Thread: Forexchain Forex Trading Diary

  1. #1
    This is the first time that I'm monitoring all my monthly trades with outcomes issue. The date which I started to do that was not a monthly rounded day, so my first monitored month started from 26 October and will be 5 times longer than calendar. I guess this isn't the last shift from the rigorous methodologies that I will be trying to pursue throughout my tading profession. I was originally meant to exchange GBP/USD but I fail to confirm this happy marching of GBP comparative to USD based on my comprehension of fundamentals. GBP seems to me to be no longer concerned in all of this credit astrophe and housing meltdown mess compared to buck. Yet it flew from 2.05 five hundred pips in a few days so that I hardly managed to shift my grid. Eventually I dropped of the entry opportunities with no firm inclination. I excused this chance loss by that if you're not sure, you for sure do not want to maintain.
    So I traded mainly 2 pairs: EUR/USD and GBP/JPY. There continue to be some other quite rare experiences not to to say that my second pair of selection is by good degree basically adventurous alone. And to the matter of the fact:
    lt;ugt;EUR/USD:lt;/ugt;
    My most traded pair. I am generally bullish about the Euro due to all of the known motives, which are occasionally being discussed by several researchers. The first purchase was Q4 in 1.4374. After that I immediately shifted my grid to that with bottom at my first commerce and upward at 1.4816. It was largely one way excursion with dollar failing struggle with all the Chinese revaluation, poor banks and industry functionality, housing fears, which let little hope for buck. Two trades were my bread and butter commerce with 30-40 pips gain , while 3 others were manually closed with 100-115 pips gain. All took no longer than 3-4 days. It seemed that using 350 pips go in a week I had been too fearful and should better utilize moving stop-loss. At 6 November I started one Q3 and a single Q4 commerce with company intention to squeeze the maximum from them arrived 3 times with about 6% loss at the Stock Exchange, which triggered transport commerce unwind with consequitive appreciation of buck so partially compensating the bad news influence. Everybody state buck is lined towards 1.5 in a few months. It looks so, but if all are bearish I become to worry. I need to see buck attentively. If return begins it willl be a long way back. At 9 November through 3rd consequitive heavy stocks decline I greatly downgraded my stop losses on EUR/USD much farther than my grid suggests- kind of thing, which may be blamed by each disciplined trader with egy, which I'm pretending to be. But why should I decrease my position throughout kindly return to buck safe haven if I'm sure in the overall up tendency? I really don't know and let to myself. Will I be punished? You can't until you gamble.
    Lt;ugt;GBP/JPY:lt;/ugt;

    This is my daring pair. I has a long history with it and very upset one, but in another side I feign to feel knowledgeable about this crazy creature, the sole key word in which is carry commerce. When everything is eloquent the pair steps up steadily, when something unusual (China decline, housing slump, stock deep underperformance, funding crisis fears, big banks or hedge fund losses) occurs it may fall like guillotine. At plain times day movements of 3 hundred pips are not uncommon. It need to be played exceptionally carefully. In fact I use something different in my flagman 4x1 egy. 2 upside trades initiated in late October about the wave of US interest decrease and expanding hope of international credit launch gave me a few decent (relative to the pair percentages) pips. The disadvantage play at stocks drop at 7 October gave some 180 pips and the next day there was loss during 10 trading days and a few douzen trades. I had been pretty right on that the transport trade unwind will follow the stock going down but that I had been mistaken in time and placed a close stop loss which is simply childish in this particular pair. As a result I not missed a wild plunge of 470 pips but also took a loss of 41 pips.

  2. #2
    The rest of the month has been spent under survival mode, because carry commerce unwind was anticipated and I was able to enter some trades up. With mortgage dilemma company or fresh bank I only tried to exit at every tiny gain chance that was positive and there were days when I was at 20 percent draw-down. It was quite unpleasant experience but as my lt;a goal=_ href=

  3. #3
    And to outcomes:
    1) Number of trades entered: 56.
    2) Number of trades shut: 44.
    3) Maximum profit: 324 pips.
    4) Maximum reduction: -193 pips.
    5) Number of profitable trades: 40.
    6) Gain: 23.13%
    7) Detailed path: http://spreadsheets.google.com/pub?k...JsDSQa0KW_TEcg

  4. #4
    How easy it was to initiate the diary to only realise I hadn't had formerly any clear image of my trading action. Montly results issue and each and every trade tracking after about a year of trading and it's first time that I see consistent profit at my accounts. Can it be the influence of the discipline or is it that the diary start was in the moment once I was ready to become successful and was really the result of my contemporary form? What is the reason and what's the consequence?
    I begin to think of myself as a ”rewarding”. There's some grab. I look at my Excell where all of the transactions are listed and watch about 90% profitable trades rate and I feel that this pretty view begins to influence my judgement. And this is purely bad without any single sign of some advantage. If I beleive entirely in any dealer intellect this is that I should not take my results into consideration during trade decision. If I am at 15% monthly profit in the middle of this month this should not make me less willing to trade because a few montly goal is already achieved. This is true in precisely the same sense as is true to not to try battle back when in loss. The outcome bad or great has nothing. What's everything to do with trading is plan following which means basic analysis, price action learning, etc..
    Another ch is it to declare myself rewarding after a month and a half rewarding trading might be slightly incorrect. It is might be a matter of luck. And another ch is that I am currently trading with money values that are little that are super. Theoretically, moving into larger values with same approach maintaining should not alter the outcome, but who knows? I'm for myself another month and a half before I add into my account and begin to trade with 10 fold amounts relative to today.

  5. #5
    December was spent on the wave of economic data under the indiion of buck correction in US. It would look like concerted action, if I had been a fan. Dollar looked and with all of the press exposure any small indiion of stability that was pro-dollar was able to cause the snowfall. Together with my plays buck (EUR/USD, NZD/USD, AUD/USD) that I sinked but not quite deeply, due to the light leverage. Near the end outside and even was able to get a decent gain. I perform super conservatively, using leverage entrances and picking entries carefully and concious of the respected dealer would consider this kind of approach in polite words an under-use of all Forex advantages. This puts a pressure on me to grow the risk. I was surprised to find this approach brings me to my present goal - roughly 5% a months gain. Medium profits were picked up by me here and there. My carry-on GBP/JPY played which I consider the continuation of this carry trade was a perpetuum generator of pips.
    And to outcomes:
    1) Number of trades entered: 36.
    2) Number of trades shut: 27.
    3) Number of trades closed from prior months: 8.
    3) Maximum gain: 202 pips.
    4) Maximum reduction: -256 pips.
    5) Number of profitable trades: 24.
    6) Profit: 4.24 percent
    7) Detailed path: http://spreadsheets.google.com/pub?k...JsAoRScqRfHmYg

  6. #6
    In some very first days of the new year I lost all my last two months achievemnts and many more. There are two chief reasons I'll number - you immanent into my trading egy and you is personnal.
    My trading egy accounts on trend. My stop-losses are actually found in the zone in which the trend should be considered to be broken, i.e. my stop-losses are quite far from the price action. The reduction is big, if the trend is actually broken. Change. The carry trade was finally broken which led to significant losses. The second rationale is personnal. I shifted my carry trade stop-losses not beleiving that following permanent revival throughout the previous year from any bottom it will be actually broken. That widened my losses.
    Inspite of the new egy of Colin McGinley to take constatnt 100 pips stop-losses I still am trying to work together with the last egy, where reduction is approved only in the case of trend reversal suspicion, leaving no room for error. It applies that I want to be 100% correct in my bets. I recognise that it could be not approach but still can't imagine something better. Continue.
    And also to outcomes:
    1) Number of transactions entered: 33.
    2) Number of transactions closed: 33.
    3) Maximum profit: 316 pips.
    4) Maximum reduction: -739 pips.
    5) Number of profitable trades: 23.
    6) reduction: -51.74%
    7) Comprehensive path: http://spreadsheets.google.com/pub?k...Rba9rR5n2u89aA

  7. #7
    I continue the prior trends: down dollar, carry trade down. I ch the movement on pull-backs. The dollar counterparts are EUR, AUD and NZD - the first because of great everlasting pro-EUR sentiment, 2 last since they are commodity monies and we've got a commodity boom in inflationary times. The same AUD is the carry trade counterpart of JPY playing now on side that is down . I nearly did not follow closely the information during this months, relying completely in my favourite analysts resumes post factum to only keep at myself with the large image. Entry and exit points were of almost no value. I utilised my comfortability grid to input 1:1, 2:1, 3:1 and 4:1 lots.
    My trading habit was quite calm and the significant thing was the growing ability to not enter the transaction when only approaching the trading table but instead waiting for the price reach the grid hubs. Multiple limit orders were of great use and they triggered most of the transactions.
    1) Number of transactions entered: 44.
    2) Number of transactions closed: 36.
    3) Maximum gain: 251 pips.
    4) Maximum reduction: -145 pips.
    5) Number of profitable trades: 35.
    6) Gain: 28.74 percent
    7) Detailed track: http://spreadsheets.google.com/pub?k...RbZxF5ka1VhZIA

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