hurvinek trading
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Thread: hurvinek trading

  1. #1
    Welcome to my trading journal. A little background info before I begin posting actual transactions:
    lt;! --[if ! SupportLineBreakNewLine]-
    About me
    I have been trading FX for approximately a year now. I began with 10000 USD, and I've dropped about 50 percent of it. I believe this a fantastic result, knowing that most men and women blow a minumum of one account in annually . This is what I hear all the time.
    I was able to keep a trading journal onto a Hungarian site blog (guess what, I'm from Hungary), but I guessed it's going to be much more fun to do it , where public interest is significantly higher.lt;ogt;
    lt;/ogt;
    About this journal
    I plan to keep an eye on my daily transactions, and also to remark them for my own schooling. Knowing myself, it's not always going to be easy, since I am not a extremely disciplined person. If you don't see me posting, it can mean two things: I'm either too lazy, or I've lost too much to admit in public. I'll be posting my transactions at the end of the afternoon or next morning (GMT 1). Lt;ogt;
    lt;/ogt;
    Concerning my trading system
    I'm trading live. All transactions I post here are real pains and real profits.
    Before one year I've tried a few trading egies, and to cut a long story short I'm now at the stage of -- guess what -- maintaining it easy. I really don't have a real system I follow, I create discretionary trades based on several simple principles I keep fine tuning all the time. It includes both fundamental and technical analysis. More on that later. As you'll notice, I'm a daytrader, usually performing 1-5 transactions a day.

    That is it for today. In another post I'll show you my transactions from yesterday.

  2. #2
    I mentioned that I place my transactions after I have closed them. This usually means that I may have open transactions running, but I won't post about them until they run out. Right now for example I've got two open positions. This usually means that posted comes with an opening price out of this day's range. Well, this really is the reason.

    EURUSD long @ 1.2543 TP 1.2554 11 pips
    Just the usual 10 pip trade. I included an additional pip to compensate for the interest rate difference.

    USDJPY long @ 117.00 TP 117.02 2 pips
    I had been unsure about the leadership prior to the PPI, so I got out around breakeven.

    USDJPY long @ 116.91 TP 117.01 10 pips
    Another classical commerce in my machine. I reentered after the pullback was completed.

    EURUSD long @ 1.2526 SL 1.2498 -28 pips
    I expected a larger pullback. Lesson learnt: enter with the trend.

    USDJPY long @ 117.34 TP 117.44 10 pips
    And another 10 pip trade. I was expecting some more, but it came back from a 25 pip profit, and I wished to get out with a profit, so I stopped at 10 pips.

    Total for the day: 60$

  3. #3
    Welcome to the Forum.
    Good luck and don't be scared to ask for support, there are lots of folk here in order to assist and advise.
    Your English is excellent, allow me to say.
    Please don't hesitate to delete this post if you wish.
    Peter

  4. #4
    Quote Originally Posted by ;
    Welcome to the Forum.
    Good luck and do not be scared to ask for support, there are lots of folk here to help and advise.
    Your English is excellent, let me say.
    Please feel free to delete this post if you desire.
    Peter
    Thanks for your kind words. I will keep this post exactly like any other anyone wants to add here.

  5. #5
    One mistake can ruin a day.

    EURUSD brief @ 1.2500 TP 1.2490 10 pips
    A timeless, well-behaving trade. I entered a pullback of an intraday breakout, and also exited 45 minutes before CPI.

    USDJPY long @117.34 TP 117.54 20 pips
    This was a commerce from yesterday. I didn't see much possible of it going higher and breaking through 117.60 resistance prior to the CPI, so again, I took the profit and conducted. It did really go higher prior to the CPI, but that I could not have possibly expected that.

    EURUSD brief @ 1.2483 SL 1.2553 -70 pips
    I entered 15 minutes following the CPI to a pullback. It might have worked out perfectly, but along came Mr. Bernanke. I thought the direction is provided for the day, and that I did not take the essential precaution. I remained in the transaction during his address, and saw it going into a loss fast. The amusing thing is, I might have gotten out with the usual 10 pip profit prior to the address, but I had been too sure of myself and the market direction. Lesson learnt: get out prior to any major news. Get in Once the dust settles.
    On the other hand I'm a little bit proud of myself due to my exit. I waited for a pullback into the critical level of 1.2550, also exited there, saving 30-50 pips. Taking a reduction is truly painful, adrenaline and emotions run high, therefore it's the most difficult to time it properly. This time I managed.

    EURUSD long @ 1.2553 TP 1.2563 10 pips
    In case my system says it's a good point to exit a losing trade on a pullback, it means that it's also a good point to input in the other direction in a freshly trending market. So at precisely the exact same moment I exited my brief position with a reduction, I entered . Took a quick 10 pip profit to complete the day.

    Total for the day: -165$

  6. #6
    An good day today. No losses. Some fortune, and some area. I reevaluated my short term perspective, and went short on the dollar. There were not any major news releases today, so there was no temptation to go back before. I could also withstand entering the trend. At times it seems to me that FX trading is only about discipline and some really easy technical and fundamental principles. I hope I'm not oversimplifying.

    USDJPY short @ 116.83 TP 116.73 10 pips
    This trade remains out of yesterday. Turned into a risky one, as I entered a bit late, but there was still room for my small profit.

    EURUSD long @ 1.2602 TP 1.2642 40 pips
    This afternoon we bounced back in the Asian session low, and that I entered in the direction of the trend. I let it all run, but we could not undergo 1.2650, not even after a few attempts, so when we were up for about the next time, I stopped.

    USDJPY short @ 116.87 TP 116.76 11 pips
    Throughout the day USDJPY was in a tight range, the yen could not truly gain from dollar weakness. I assumed though, that the topic of the day is dollar weakness, and it might be strange for almost any major currency to shed against the greenback. So I reentered USDJPY short around the surface of the range. 117.00 was a powerful resistance, it came back back, and on one occasion my limit was hit. A classic commerce.

    EURUSD long @ 1.2633 TP 1.2644 11 pips
    Yet another classic in the end of the day. Waited for a pullback, then for your alteration, and entered for a limit under the day's high. Was hit later.

    Total for the day: 345$

  7. #7
    Another moment. It was really so eloquent, and at the end I had such a major advantage, that I started to feel uncomfortable in my positions. I think I did the ideal thing thenI closed them.

    USDJPY short @ 116.83 TP 116.22 61 pips
    This was a commerce from two weeks ago. I entered after the Bernanke speech to compensate for the major loss. Took two weeks to grow. It is a lot more than my usual trading interval, but occasionally trades like this happen. I quit when we attained a resistance level.

    EURUSD long @ 1.2630 TP 1.2644 14 pips
    A very simple commerce on a pullback, for slightly over 10 pips.

    EURUSD long @ 1.2637 TP 1.2685 48 pips
    Following another pullback I reentered planning 10 pips, but we broke through the 1.2650 resistance, and I let it run. When I can watch my trades, I often make discretionary decisions rather than utilizing predefined limit or stop orders. I found that I often have a fantastic opportunity to get out from a dropping trade on a pullback. The risk is of course that there is no pullback. I only use this method in quiet market conditions (meaning no news releases). But it's still risky, and one day I may have to reconsider it after a substantial loss.

    USDJPY short @ 116.18 TP 116.16 2 pips
    This one was a little awkward commerce. I already wanted to get out, pack for the weekend, I had been pleased with the gains I had. I had 20-30 pips possible profit, but along came a pullback, and I did not want to risk ending the week with a reduction or using a stuck commerce. I pulled the trigger just before breakeven.

    Total for the day: 581$

    --------------

    Evaluation of the week:
    It was a very good start for my trading journal. I made some errors, but overall my egy to go for over 10-pip gains seems to work out well. I feel this is due to moving from breakout trades to pullback trades, and sticking to trading in the direction of the trend.
    I created 21 trades (2 breakevens, 3 declines, 16 winners) with over 75 percent winning ratio. Won entirely 785$, that is 22 percent of my account balance from the beginning of the week. I need the weekend to digest this, trying to stay humble but still maintaining the same self-confidence in next week trading. Let us see when this is only fortune, or my trading abilities are actually growing.

    Here is a small summary of the weekly amounts:

    Assets: 21
    Winning trades: 16
    Losing trades: 3
    Breakeven trades: two *
    Winning ratio: 76%

    Complete P/L: 785$
    Account equilibrium increase/decrease: 22.4%


    * I believe that the 2-pip winner a breakeven. Strictly speaking I had 17 winning trades.

  8. #8
    In this article I shall collect my ideas over the weekend. I try to keep this not too long, so I limit myself to ideas about Currency Market trading . I'm doing it to correctly assess the week's results, and to emotionally prepare for the next week.
    In my prior article I summed up my trades, but sleeping I realised there is something missing. The numbers don't tell everything about how I actually performed. 76 percentage winning ratio suggests that I had been doing something right overall, but I know that I made some normal mistakes. Some of those mistakes resulted in losses, but with a few I'd fortune.
    Although it isn't unusual with my own system to get more profitable trades than winners, I tend to encounter big losses once I cannot maintain discipline. Also my average loss is generally larger than my average win. At least it used to be. I hope that with the latest tweak of my body that this will be more balanced. In addition, I hope, that I'll have less breakeven trades.
    To give you an instance, from mid-May to mid-June I created 101 trades. 26 of these were losers. 28 breakevens (or near breakeven), and 47 winners. However, I made only 145 dollars, due to the winners becoming heavier than those winners.
    This week, with the tweak, it seemed to work better. I reduced the ratio of breakevens, kept the ratio of losers and winners, and could let the winners run further than before, while my losses did not rise proportionally. All of these are good signs, however I want to test further:

    I made two errors I talked about (entering the trend, remaining in a commerce during Bernanke's speech). With both trades I could successfully limit my losses applying the same technique for exits as I currently use for entries. I waited for a pullback, and exited once I felt it is reaching a floor.
    Now this technique (as probably all methods ) has its defects. When entering on a pullback, you always risk that you actually input a trend reversal, and you're in for a loss. The trick here for me would be to get the equilibrium between leaving when the reversal is supported, but at the same time keeping losses inside my risk tolerance level. This week I managed to await a reversal verifiion, then a pullback, and exit there. I'm aware that it is not necessarily going to work. Actually with the Bernanke speech I felt really uncomfortable when I had been in a 100 pip with no, and that I had been very close to throwing in the towel.
    There is another mistake I made which isn't evident from the numbers, because I had been lucky with it. The mistake was a classic one: I wanted to take revenge on the market, compensate for the major loss. That is how I entered USDJPY at 116.83. Although it worked out well, took 10 pips on half of the trade, and 61 (that's a lot in my system) on the flip side, the entry was actually a mistake.

    So to sum up the errors from a purely plogical standpoint
    - Entering contrary to the trend.
    - Staying in a commerce during news period.
    - Attempting to compensate for a loss.

    To be honest to myself I would also like to point out the things I did right:
    - Feeling calm when needing to take a loss, using good exit egy.
    - Quick reaction to fad change (after the Bernanke address; this from how was key to have a prosperous week).
    - Properly defined support and resistance areas. I used them both when anticipating ranging market and when letting trades run when price broke .

    One last, very important remark, and also a warning to myself:
    Although 76 percent of my trades were winners, so I turned the week really profitable on the past two days. This is far away from being always right, and is mainly because of recognising the trend and going with it. I had been in a kind of a plogical stability with the market, also that I need to be aware that it won't always be so.

  9. #9
    Fantastic journal you've got here. I like your avatar.

  10. #10
    Yardie, thanks to your comment. Hope you'll like coming back and reading about my daily transactions. Although I am Hungarian, my avatar is a Czech puppet figure.

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