pegmomejom13
12-06-2007 08:14, 08:14 AM
This is actually the first time that I am tracking all my monthly transactions with results difficulty. The date which I started to do that was not a monthly rounded day, therefore my first tracked month began from 26 October and will be 5 times longer than calendar . I guess this isn't the last shift from the strict methodologies that I will be trying to pursue during my tading career. I was initially intended to trade GBP/USD but I fail to confirm this happy marching of GBP comparative to USD based on my understanding of fundamentals. GBP appears to me to be no longer involved in all this credit crisis and home collapse jumble than dollar. Yet it flew from 2.05 five hundred pips in a couple of days so I barely managed to shift my grid. Eventually I lost all of the entry opportunities with no business tendency on the happening. I excused this opportunity loss by that if you're not certain, you for sure don't need to be in.
So I traded largely two pairs: EUR/USD and GBP/JPY. There continue to be some other very rare adventures to not to say my next pair of selection is by good degree basically adventurous alone. As well as the matter of the truth:
lt;ugt;EUR/USD:lt;/ugt;
My traded pair. I am generally bullish on the Euro due to all of the known reasons, which can be periodically being discussed by many researchers. The first buy was Q4 in 1.4374. After I promptly shifted my grid to that with butt at my first commerce and up at 1.4816. It was largely 1 way excursion with dollar failing struggle with all the Chinese revaluation, bad industry and banks performance, home fears, which allow little expectation for dollar. Two transactions had been my bread and butter commerce with 30-40 pips profit, while 3 others were manually closed with 100-115 pips profit. All took no more than 3-4 days. It appeared that with 350 pips go at a week I was too fearful and should better utilize moving stop-loss. At 6 November I opened one Q3 and a single Q4 commerce with firm intention to squeeze the maximum from them here came 3 times with about 6% reduction at the Stock Exchange, which triggered carry trade unwind with consequitive appreciation of dollar thus partially compensating the bad news influence. Everybody state dollar is lined towards 1.5 within a couple of months. It looks so, but when all are bearish I become to worry. I want to see dollar attentively. If come back begins it willl be a very long way back. At 9 November during 3rd consequitive significant stocks decrease I heavily downgraded my stop losses EUR/USD much farther than my grid indies - type of matter, which might be blamed of by every disciplined trader with egy, which I am pretending to be. But why should I decrease my position during momentarily return to dollar secure haven if I am sure from the general up tendency? I truly don't know and allow to myself. Will I be penalized? You never know until you bet.
Lt;ugt;GBP/JPY:lt;/ugt;
This is my daring pair. I has a very long history with it and very mad one, but in another side I pretend to feel familiar with this crazy creature, the only keyword in which will be carry trade. When everything is smooth that the pair steps up , when something unusual (China decrease, home slump, inventory deep underperformance, funding crisis fears, big banks or hedge fund losses) happens it might fall like guillotine. Even at plain times day moves of 3 hundred pips aren't uncommon. It need to be played extremely closely. In fact I use something different in my flagman 4x1 egy. 2 upside transactions initiated in late October on the tide of US interest reduction and growing hope of international credit launch gave me some adequate (relative to the pair proportions) pips. The downside play at stocks fall in 7 October gave some 180 pips and the following day there was initial reduction during 10 trading days and some douzen trades. I was fairly right on the carry trade unwind will follow the stock going down but that I was mistaken in timing and placed a close stop loss which is simply childish within this pair. Because of this I not missed a crazy dip of 470 pips but also took a reduction of 41 pips.
So I traded largely two pairs: EUR/USD and GBP/JPY. There continue to be some other very rare adventures to not to say my next pair of selection is by good degree basically adventurous alone. As well as the matter of the truth:
lt;ugt;EUR/USD:lt;/ugt;
My traded pair. I am generally bullish on the Euro due to all of the known reasons, which can be periodically being discussed by many researchers. The first buy was Q4 in 1.4374. After I promptly shifted my grid to that with butt at my first commerce and up at 1.4816. It was largely 1 way excursion with dollar failing struggle with all the Chinese revaluation, bad industry and banks performance, home fears, which allow little expectation for dollar. Two transactions had been my bread and butter commerce with 30-40 pips profit, while 3 others were manually closed with 100-115 pips profit. All took no more than 3-4 days. It appeared that with 350 pips go at a week I was too fearful and should better utilize moving stop-loss. At 6 November I opened one Q3 and a single Q4 commerce with firm intention to squeeze the maximum from them here came 3 times with about 6% reduction at the Stock Exchange, which triggered carry trade unwind with consequitive appreciation of dollar thus partially compensating the bad news influence. Everybody state dollar is lined towards 1.5 within a couple of months. It looks so, but when all are bearish I become to worry. I want to see dollar attentively. If come back begins it willl be a very long way back. At 9 November during 3rd consequitive significant stocks decrease I heavily downgraded my stop losses EUR/USD much farther than my grid indies - type of matter, which might be blamed of by every disciplined trader with egy, which I am pretending to be. But why should I decrease my position during momentarily return to dollar secure haven if I am sure from the general up tendency? I truly don't know and allow to myself. Will I be penalized? You never know until you bet.
Lt;ugt;GBP/JPY:lt;/ugt;
This is my daring pair. I has a very long history with it and very mad one, but in another side I pretend to feel familiar with this crazy creature, the only keyword in which will be carry trade. When everything is smooth that the pair steps up , when something unusual (China decrease, home slump, inventory deep underperformance, funding crisis fears, big banks or hedge fund losses) happens it might fall like guillotine. Even at plain times day moves of 3 hundred pips aren't uncommon. It need to be played extremely closely. In fact I use something different in my flagman 4x1 egy. 2 upside transactions initiated in late October on the tide of US interest reduction and growing hope of international credit launch gave me some adequate (relative to the pair proportions) pips. The downside play at stocks fall in 7 October gave some 180 pips and the following day there was initial reduction during 10 trading days and some douzen trades. I was fairly right on the carry trade unwind will follow the stock going down but that I was mistaken in timing and placed a close stop loss which is simply childish within this pair. Because of this I not missed a crazy dip of 470 pips but also took a reduction of 41 pips.