Forexchain Forex Trading Diary
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Thread: Forexchain Forex Trading Diary

  1. #1
    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.

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

  3. #3
    How easy it was to initiate the diary to only realise that I hadn't had any clear image of my trading action. Montly results issue and each and every transaction monitoring following a year of trading and it's first time I see constant profit at my account. Is it the influence of the discipline or can it be that the diary start was at the moment when I was prepared to become profitable and has been actually the consequence of my modern form? What's the reason and what's the consequence?
    I start to consider myself as a”profitable”. There is some ch here. I look at my Excell where all of the trades have been listed and see roughly 90% profitable trades rate and I feel this pretty view begins to affect my conclusion. And this is only bad without any single sign of some benefit. If I beleive entirely in any trader wisdom that is that I shouldn't take my results into account during trade choice. If I'm at 15% monthly profit in the middle of this month this shouldn't 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 out fight back when in loss. The outcome bad or good has nothing to do with trading. What's everything to do with trading is egy following which means fundamental analysis, price action learning, etc..
    Another ch is that to declare myself profitable after a month and a half profitable trading may be slightly incorrect. It is still may be a matter of luck. And another ch is that I'm currently trading with super little money values. Theoretically, moving to bigger values with identical egy keeping shouldn't change the results, but who knows? I'm for myself another month and a half until I add to my account and begin to trade with 10 fold sums relative to now.

  4. #4
    December was spent under the indiion of dollar correction over the tide of amazingly powerful economic data from US. If I had been a conspirological enthusiast it'd look like concerted action. Besides of it dollar looked like overstretched and with the excited press vulnerability any slight indiion of pro-dollar equilibrium was able to trigger the snowfall. Together with of my plays against dollar (EUR/USD, NZD/USD, AUD/USD) I sinked but not very deeply, because of the light leverage. Near the close of the month I swimmed out and even was able to receive an adequate profit. I play super conservatively, with very low leverage, multiple entrances and selecting entries carefully and completely concious of the many respected trader would believe such an approach in considerate words an under-use of Forex advantages. This puts a strain on me to increase the risk. So I was amazed to see that this covard egy brings me to my current target - about 5% a months profit. I picked up medium profits here and there. My carry trade GBP/JPY played in the direction of the trend that I still consider the continuation of the carry trade was a perpetuum generator of pips.
    And to outcomes:
    1) Number of transactions entered: 36.
    Two ) Number of transactions shut: 27.
    3) Number of transactions closed from previous months: 8.
    3) Maximum profit: 202 pips.
    4) Maximum reduction: -256 pips.
    5) Number of profitable trades: 24.
    6) Profit: 4.24percent
    7) Detailed path: http://spreadsheets.google.com/pub?k...JsAoRScqRfHmYg

  5. #5
    In some first days of the new year I dropped all of my past two months many and achievemnts more. There are two chief reasons I may number - one immanent into my trading egy and one is personnal.
    My trading egy accounts on tendency. My stop-losses are actually loed at the zone in which the tendency ought to be considered to be broken, i.e. my stop-losses are quite far from the price action. If the tendency is really broken the built-in reduction is quite big. What have happened on the year change. The carry trade was eventually broken which resulted in significant losses. The next rationale is personnal. I shifted my carry trade stop-losses not beleiving that after permanent revival during the previous year from any bottom it'll be really broken. That widened my losses.
    Inspite of the new egy of Colin McGinley to take constatnt 100 pips stop-losses I am attempting to work together with the last egy, where reduction is accepted only in the case of trend reversal suspicion, leaving no room for error. It applies that I need to be 100% correct in my stakes. I recognise that it could be not successfull egy but nevertheless can not imagine something better. Continue.
    And also to outcomes:
    1) Number of transactions entered: 33.
    Two ) Number of transactions closed: 33.
    3) Maximum profit: 316 pips.
    4) Maximum reduction: -739 pips.
    5) Number of profitable trades: 23.
    6) Loss: -51.74percent
    7) Comprehensive track: http://spreadsheets.google.com/pub?k...Rba9rR5n2u89aA

  6. #6
    I continue the previous tendencies: dollar , carry trade down. I ch the movement on pull-backs. The dollar Presents are EUR, AUD and NZD - the first because of great everlasting pro-EUR opinion, 2 last since they're commodity currencies and we have a commodity boom in inflationary times. The same AUD is the carry trade counterpart of JPY playing today on side. I nearly did not follow closely the news through this months, relying solely in my favourite analysts resumes post factum to only keep at myself with the big picture. Entrance and exit points have been of almost no value. I used my comfortability grid to enter 1:1, 2:1, 3:1 and 4:1 lots.
    My trading habit was very calm and the important thing was the expanding ability to not enter the transaction when only approaching the trading desk but instead waiting for the price get to the grid hubs. Therefore multiple limit orders were of excellent use and most of the trades were triggered by them.
    1) Number of trades entered: 44.
    Two ) Number of trades closed: 36.
    3) Maximum profit: 251 pips.
    4) Maximum reduction: -145 pips.
    5) Number of profitable trades: 35.
    6) Profit: 28.74percent
    7) Detailed track: http://spreadsheets.google.com/pub?k...RbZxF5ka1VhZIA

  7. #7
    The remainder of the month was mostly spent under survival mode, since carry trade unwind was more than I expected and I managed to enter up some trades. With new bank or mortgage issue company reporting billion reductions each and every day I was only hoping to exit at each small positive profit opportunity and there were days when I was at 20 percent draw-down. It had been very unpleasant experience but as my favourite lt;a goal =_sterile href=

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