forexnoob101s journal - Page 4
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Thread: forexnoob101s journal

  1. #31
    Overall the week went well considering that the terms of a choppy market and unable to find any decent trades to adhere to. Unfortunately I have two open trades which are currently in the red. Closing these trades may take a few weeks so I will not be putting any new trades unless I can get at a Grab and Go commerce fast and easily. I really don't like being in this scenario I must wait patiently, but I have to do so for the safety of the account. This scenario will happen many times, but it's the only way I am able to protect the account balance. I will be posting on here when the open trades are shut or any other changes have been made to the account. Thank you.

    Hint = $1,571.61 USD
    Win / Loss Ratio Between 6-22-08 into 6-27-08 = 5:0
    Performance Between 6-22-08 into 6-27-08 = 23.74%
    Complete Performance - Since Inception (June 11th, 2008)= 170.29%

  2. #32
    Both transactions are closed for a couple of days now, just never had the time to have the ability to post on this. I decided to shut both positions at rest even after interest. The main reason I did this is mainly because I didn't have time to await the price to come into my favor. I am happy overall with the functioning of the trades.

    Trade # 008-06-SAVA-026
    Currency Traded - GBP
    Impact = 0 pips

    Trade # 008-06-SAVA-027
    Currency Traded - GBP
    Impact = 0 pips

    Balance = $1,571.61 USD
    Complete Performance - Since Inception (June 11th, 2008)= 170.29%

  3. #33
    Just wanted to say thank you to everyone who has watched my own diary. It's been a blessing to have soo many people watching, sending me private messages, e-mails, and instant messages. I'm glad not many people have responded on forum itself because it requires me a awhile to reply, but am grateful for the very few.

    Well due to the achievement of the diary I've been real busy over here meeting with a few clients that are interested in moving forward with financing accounts to exchange the foreign exchange market. After many discussions with the main concerns of the safety of the funds, as well as the life of the account I have decided to prevent this journal and start another journal which will replie the accounts functionality.

    Once again thank you to forum for getting me here and thank you to everyone watching. Although this diary has been very brief, I look forward to staying here for quite a while.

    Total Performance - Since Inception (June 11th, 2008)= 170.29%

  4. #34
    The Laws

    1. Constantly use a mental stop loss. Should you walk away from the trade place a stop loss.
    2. Never trade to get revenge on the market. Never enter a trade simply to get your money back, or boost your lot size to make up a loss. Make sure you are prepared for every transaction.
    3. There will be losses. Not every trade will be a winner. Should you get a few losses in a row, then walk away the following week and trade.
    4. Anticipate the unexpected. Do not get trigger-happy, be over-confident, trade for no reason, forecast the market, or think that it will go your way.
    5. Do not expect to earn a thousand dollars . Be patient with your trades. The market will be there tomorrow. Can you?
    6. Use your overall trading style, and money management that matches each transaction.
    7. Practice the laws. Memorize them. Make certain that you use them before entering every transaction.

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