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.