Wednesday, September 26, 2007
Taking a long long break
For those who have been following my blog, you're probably wondering what I've been doing. I haven't been trading since August. I was in a messy state of mind then, taking care of numerous tasks at the same time. As a result the demo account also ended up in a big mess. As such I decided to take a long break and come back later, starting afresh again. So till then, take care!
Wednesday, August 8, 2007
Summary of July trades
July has not been a very good month for me. Overall I hit a % lower than the norm. Both Strategy 1 & 2 ended up in losses for this month. I've checked with my trainer, KS, on my losing trades and result. Most of the losing trades were genuine losses, i.e. not a mistake on my part. The result was also partly due to the fact that I've not entered some of the winning trades.
Lesson learnt for July:
It is possible to lose money even for a month. Like every investment, Forex also depends on your time of entry or what I like to think of as, luck. But I still believe that Forex can make us money (definitely not big bucks) in the long run. I shall continue to persevere in my journey with the Naruto spirit!
Lesson learnt for July:
It is possible to lose money even for a month. Like every investment, Forex also depends on your time of entry or what I like to think of as, luck. But I still believe that Forex can make us money (definitely not big bucks) in the long run. I shall continue to persevere in my journey with the Naruto spirit!
Live account
I entered a trade at 117.50 on Mon when market dropped responding to the drop in stock market. Meant it to be a carry trade if it didn't hit my PL. The trade closed at my PL of 118.50 later in the day, a 100 pips gain. Recovered back part of the large loss in the live account. Way to go!
Results for the past week
I haven't been updating my results for the last week. Have not had much time to do trading as I'm into some big renovation project now. Anyway, here's the results of my past trades.
Open Date: 07/31/2007 00:44:19
Instrument: USDJPY
B/S: Sell
Open Rate: 118.86
Lot: 0.5
Close Date: 07/31/2007 03:03:25
Close Rate: 119.16
Gross PL: -$125.91
Open Date: 07/31/2007 11:17:58
Instrument: USDJPY
B/S: Sell
Open Rate: 118.99
Lot: 0.5
Close Date: 07/31/2007 14:35:45
Close Rate: 118.89
Gross PL: $42.06
Open Date: 08/01/2007 02:31:59
Instrument: USDJPY
B/S: Buy
Open Rate: 117.88
Lot: 0.5
Close Date: 08/01/2007 03:27:17
Close Rate: 118.00
Gross PL: $50.83
Open Date: 08/01/2007 23:22:21
Instrument: USDJPY
B/S: Sell
Open Rate: 118.7
Lot: 0.5
Close Date: 08/01/2007 23:37:00
Close Rate: 118.6
Gross PL: $42.16
Open Date: 08/05/2007 20:03:49
Instrument: USDJPY
B/S: Buy
Open Rate: 117.68
Lot: 0.5
Close Date: 08/05/2007 21:00:54
Close Rate: 117.38
Gross PL: -$127.79
Open Date: 08/06/2007 05:47:05
Instrument: USDJPY
B/S: Buy
Open Rate: 117.78
Lot: 0.5
Close Date: 08/06/2007 06:47:55
Close Rate: 117.88
Gross PL: $42.41
Open Date: 08/06/2007 12:15:55
Instrument: USDJPY
B/S: Buy
Open Rate: 118.13
Lot: 0.5
Close Date: 08/06/2007 12:40:22
Close Rate: 118.26
Gross PL: $54.95
Beginning Balance: $1,000.00
Ending Balance: $1,075.44
Profit: 7.544% (reduced)
Open Date: 07/31/2007 00:44:19
Instrument: USDJPY
B/S: Sell
Open Rate: 118.86
Lot: 0.5
Close Date: 07/31/2007 03:03:25
Close Rate: 119.16
Gross PL: -$125.91
Open Date: 07/31/2007 11:17:58
Instrument: USDJPY
B/S: Sell
Open Rate: 118.99
Lot: 0.5
Close Date: 07/31/2007 14:35:45
Close Rate: 118.89
Gross PL: $42.06
Open Date: 08/01/2007 02:31:59
Instrument: USDJPY
B/S: Buy
Open Rate: 117.88
Lot: 0.5
Close Date: 08/01/2007 03:27:17
Close Rate: 118.00
Gross PL: $50.83
Open Date: 08/01/2007 23:22:21
Instrument: USDJPY
B/S: Sell
Open Rate: 118.7
Lot: 0.5
Close Date: 08/01/2007 23:37:00
Close Rate: 118.6
Gross PL: $42.16
Open Date: 08/05/2007 20:03:49
Instrument: USDJPY
B/S: Buy
Open Rate: 117.68
Lot: 0.5
Close Date: 08/05/2007 21:00:54
Close Rate: 117.38
Gross PL: -$127.79
Open Date: 08/06/2007 05:47:05
Instrument: USDJPY
B/S: Buy
Open Rate: 117.78
Lot: 0.5
Close Date: 08/06/2007 06:47:55
Close Rate: 117.88
Gross PL: $42.41
Open Date: 08/06/2007 12:15:55
Instrument: USDJPY
B/S: Buy
Open Rate: 118.13
Lot: 0.5
Close Date: 08/06/2007 12:40:22
Close Rate: 118.26
Gross PL: $54.95
Beginning Balance: $1,000.00
Ending Balance: $1,075.44
Profit: 7.544% (reduced)
Tuesday, July 31, 2007
Back into action!
I'm back into action with my practice account once again. Closed 2 trades yesterday. The second one was a loss due to the fact that I've entered the trade too early...hmmm...so that can happen for Strategy 2 as well. Another lesson learnt.
Open Date: 07/30/2007 01:26:59
Instrument: USDJPY
B/S: Buy
Open Rate: 118.59
Lot: 0.5
Close Date: 07/30/2007 02:59:48
Close Rate: 118.69
Gross PL: $42.12
Open Date: 07/30/2007 10:23:57
Instrument: USDJPY
B/S: Buy
Open Rate: 118.69
Lot: 0.5
Close Date: 07/30/2007 11:35:59
Close Rate: 118.39
Gross PL: -$126.7
Beginning Balance: $1,000.00
Ending Balance: $1,096.74
Profit: 9.674% (reduced)
Open Date: 07/30/2007 01:26:59
Instrument: USDJPY
B/S: Buy
Open Rate: 118.59
Lot: 0.5
Close Date: 07/30/2007 02:59:48
Close Rate: 118.69
Gross PL: $42.12
Open Date: 07/30/2007 10:23:57
Instrument: USDJPY
B/S: Buy
Open Rate: 118.69
Lot: 0.5
Close Date: 07/30/2007 11:35:59
Close Rate: 118.39
Gross PL: -$126.7
Beginning Balance: $1,000.00
Ending Balance: $1,096.74
Profit: 9.674% (reduced)
Friday, July 27, 2007
An expensive mistake!
I made a drastic mistake yesterday night in my live account. I had one position opened for carry trade. Seeing the downtrend, I wanted to short the market. But when I placed my Short trade, I forgot to hedge it. Due to the nature of this trading platform, my carry trade was closed. As a result, I lost not only all my previous profit, but also dipped into my principle amount. All due to a pure human error! On top of that I had 2 consecutive losing trades from entering the wrong time using Strategy 1.
Under my kind of emotions yesterday, there was no way I can make a right judgement. So I made a correct decision to off the PC and went to sleep. It was a good decision. I woke up this morning and realised that if I had entered the market again, there is a huge possiblity that I could lose another one.
I am back to my normal self today. After checking with my trainer, I realised that I had missed a few good trades for Strategy 2 by focusing too much on catching Strategy 1. It was an expensive but good lesson learnt.
What my trainer said was right. When it's going to stop (referring to the downtrend yesterday night), nobody knows for sure. Just trade as the system and see. Losses are inevitable in Forex. They serve as good lessons for us to reflect upon our mistakes and make us grow, hopefully, into a better trader. The important thing is not to lose your direction after losses and to move on from there.
Under my kind of emotions yesterday, there was no way I can make a right judgement. So I made a correct decision to off the PC and went to sleep. It was a good decision. I woke up this morning and realised that if I had entered the market again, there is a huge possiblity that I could lose another one.
I am back to my normal self today. After checking with my trainer, I realised that I had missed a few good trades for Strategy 2 by focusing too much on catching Strategy 1. It was an expensive but good lesson learnt.
What my trainer said was right. When it's going to stop (referring to the downtrend yesterday night), nobody knows for sure. Just trade as the system and see. Losses are inevitable in Forex. They serve as good lessons for us to reflect upon our mistakes and make us grow, hopefully, into a better trader. The important thing is not to lose your direction after losses and to move on from there.
Same early worm again
The classic "entering a market too early is no good" example happened again yesterday night. As a result, I lost another trade using Strategy 1.
Open Date: 07/25/2007 06:10:37
Instrument: USDJPY
B/S: Buy
Open Rate: 120.33
Lot: 0.5
Close Date: 07/25/2007 06:37:27
Close Rate: 120.43
Gross PL: $41.51
Open Date: 07/26/2007 06:16:04
Instrument: USDJPY
B/S: Sell
Open Rate: 120.27
Lot: 0.5
Close Date: 07/26/2007 07:06:34
Close Rate: 120.17
Gross PL: $41.61
Open Date: 07/26/2007 07:29:58
Instrument: USDJPY
B/S: Buy
Open Rate: 119.97
Lot: 0.5
Close Date: 07/26/2007 09:06:00
Close Rate: 119.52
Gross PL: -$188.27
Beginning Balance: $1,000.00
Ending Balance: $1,181.32
Profit: 18.132% (reduced)
Open Date: 07/25/2007 06:10:37
Instrument: USDJPY
B/S: Buy
Open Rate: 120.33
Lot: 0.5
Close Date: 07/25/2007 06:37:27
Close Rate: 120.43
Gross PL: $41.51
Open Date: 07/26/2007 06:16:04
Instrument: USDJPY
B/S: Sell
Open Rate: 120.27
Lot: 0.5
Close Date: 07/26/2007 07:06:34
Close Rate: 120.17
Gross PL: $41.61
Open Date: 07/26/2007 07:29:58
Instrument: USDJPY
B/S: Buy
Open Rate: 119.97
Lot: 0.5
Close Date: 07/26/2007 09:06:00
Close Rate: 119.52
Gross PL: -$188.27
Beginning Balance: $1,000.00
Ending Balance: $1,181.32
Profit: 18.132% (reduced)
Wednesday, July 25, 2007
Loss reduced
The loss by the "early worm" was reduced by the next winning trade via Strategy 1. This was the second time it happened. The first was end Jun, similar situation. So far this is the only way I encountered losing trade with Strategy 1.
Open Date: 07/24/2007 23:57:31
Instrument: USDJPY
B/S: Buy
Open Rate: 120.10
Lot: 0.5
Close Date: 07/25/2007 00:43:53
Close Rate: 120.22
Gross PL: $49.90
Beginning Balance: $1,000.00
Ending Balance: $1,286.47
Profit: 28.647%
Open Date: 07/24/2007 23:57:31
Instrument: USDJPY
B/S: Buy
Open Rate: 120.10
Lot: 0.5
Close Date: 07/25/2007 00:43:53
Close Rate: 120.22
Gross PL: $49.90
Beginning Balance: $1,000.00
Ending Balance: $1,286.47
Profit: 28.647%
Early bird catches the worm, but......
There's a saying that an early bird catches the worm. But it never tells you whether the worm is poisonous!! --> Jade's philosophy...lol......
I woke up very early today. Saw the chance to enter a trade according to Strategy 1 and I merrily entered. The trade got engaged, but it turned out to be a loss. :( This was the same case as one of my previous Strategy 1 trades. I had entered too early, so to speak. Hopefully the next trade to be engaged will be a winning one. This was also my first losing trade in my live account.
Open Date: 07/24/2007 18:57:29
Instrument: USDJPY
B/S: Buy
Open Rate: 120.28
Lot: 0.5
Close Date: 07/24/2007 21:02:22
Close Rate: 119.83
Gross PL: -$187.80
Beginning Balance: $1,000.00
Ending Balance: $1236.58
Profit: 23.658% (reduced)
I woke up very early today. Saw the chance to enter a trade according to Strategy 1 and I merrily entered. The trade got engaged, but it turned out to be a loss. :( This was the same case as one of my previous Strategy 1 trades. I had entered too early, so to speak. Hopefully the next trade to be engaged will be a winning one. This was also my first losing trade in my live account.
Open Date: 07/24/2007 18:57:29
Instrument: USDJPY
B/S: Buy
Open Rate: 120.28
Lot: 0.5
Close Date: 07/24/2007 21:02:22
Close Rate: 119.83
Gross PL: -$187.80
Beginning Balance: $1,000.00
Ending Balance: $1236.58
Profit: 23.658% (reduced)
A mistake, but a good one
Yesterday while engaging an opposing trade, I accidentally close one open position (I forgot to hedge on my new trade). It was a lucky mistake as the first trade was a losing trade. So I had prevented a bigger loss...lol...
So I had one losing trade and 2 winning trades for yesterday. One of the winning trades was based on the SMS alert.
Open Date: 07/23/2007 22:59:00
Instrument: USDJPY
B/S: Sell
Open Rate: 120.47
Lot: 0.5
Close Date: 07/24/2007 01:15:49
Close Rate: 120.62
Gross PL: -$62.19
Open Date: 07/24/2007 01:18:09
Instrument: USDJPY
B/S: Buy
Open Rate: 120.63
Lot: 0.5
Close Date: 07/24/2007 05:04:01
Close Rate: 120.74
Gross PL: $45.54
Open Date: 07/24/2007 04:40:44
Instrument: USDJPY
B/S: Buy
Open Rate: 120.69
Lot: 0.5
Close Date: 07/24/2007 06:26:49
Close Rate: 120.81
Gross PL: $49.85
Beginning Balance: $1,000.00
Ending Balance: $1424.37
Profit: 42.437%
So I had one losing trade and 2 winning trades for yesterday. One of the winning trades was based on the SMS alert.
Open Date: 07/23/2007 22:59:00
Instrument: USDJPY
B/S: Sell
Open Rate: 120.47
Lot: 0.5
Close Date: 07/24/2007 01:15:49
Close Rate: 120.62
Gross PL: -$62.19
Open Date: 07/24/2007 01:18:09
Instrument: USDJPY
B/S: Buy
Open Rate: 120.63
Lot: 0.5
Close Date: 07/24/2007 05:04:01
Close Rate: 120.74
Gross PL: $45.54
Open Date: 07/24/2007 04:40:44
Instrument: USDJPY
B/S: Buy
Open Rate: 120.69
Lot: 0.5
Close Date: 07/24/2007 06:26:49
Close Rate: 120.81
Gross PL: $49.85
Beginning Balance: $1,000.00
Ending Balance: $1424.37
Profit: 42.437%
Tuesday, July 24, 2007
The dip again
The dip on Friday night seems to be continuing though this time on a much smaller scale. Nonetheless, I was able to profit from it.
Open Date: 07/22/2007 22:33:26
Instrument: USDJPY
B/S: Buy
Open Rate: 121.09
Lot: 0.5
Close Date: 07/23/2007 05:30:36
Close Rate: 121.22
Gross PL: $53.61
Beginning Balance: $1,000.00
Ending Balance: $1391.37
Profit: 39.137%
Open Date: 07/22/2007 22:33:26
Instrument: USDJPY
B/S: Buy
Open Rate: 121.09
Lot: 0.5
Close Date: 07/23/2007 05:30:36
Close Rate: 121.22
Gross PL: $53.61
Beginning Balance: $1,000.00
Ending Balance: $1391.37
Profit: 39.137%
Sunday, July 22, 2007
Live Account
Some of you know that I have actually started my live account trading in July. So far I have based my live trading on Strategy 1 since I'm more confident of handling that. The results so far have been encouraging. I've engaged 5 trades so far, all winning trades. I shan't go into the details of my live trades since they're mirror of what I did in my practice account. The ROI so far has been about 5%, which I consider satisfactory.
I hope to grow confident in doing Strategy 2 soon, maybe in another month or so, so that I can have more trades for my live account. But I've learnt one lesson so far. We should not be impatient and rush into things. So I will continue my Forex journey in my practice account and hope to see more of you joining in my journey soon.
I hope to grow confident in doing Strategy 2 soon, maybe in another month or so, so that I can have more trades for my live account. But I've learnt one lesson so far. We should not be impatient and rush into things. So I will continue my Forex journey in my practice account and hope to see more of you joining in my journey soon.
Saturday, July 21, 2007
Finally, winning trades again
Yesterday I had 3 trades and all of them were winning trades. Two based on Strategy 2 and one on Strategy 1. Hopefully this signifies that my "bad luck" (I like to think of the string of losses as that) is over, at least for a while...lol...
Open Date: 07/20/2007 02:01:26
Instrument: USDJPY
B/S: Buy
Open Rate: 122.27
Lot: 0.5
Close Date: 07/20/2007 03:34:19
Close Rate: 122.37
Gross PL: $40.85
Open Date: 07/20/2007 09:55:13
Instrument: USDJPY
B/S: Sell
Open Rate: 121.96
Lot: 0.5
Close Date: 07/20/2007 10:02:05
Close Rate: 121.86
Gross PL: $41.03
Open Date: 07/20/2007 10:50:17
Instrument: USDJPY
B/S: Buy
Open Rate: 121.16
Lot: 0.5
Close Date: 07/20/2007 11:10:18
Close Rate: 121.28
Gross PL: $49.46
Beginning Balance: $1,000.00
Ending Balance: $1337.77
Profit: 33.777%
Friday was an exciting night. The chart was moving so fast and so much that I could not take my eyes off the screen for long. Can you feel the excitement I felt looking at this?
I consider myself very lucky indeed to be able to participate in the Forex market. Everyday I wake up feeling blessed that I am able to trade again. I just simply love Forex!
Open Date: 07/20/2007 02:01:26
Instrument: USDJPY
B/S: Buy
Open Rate: 122.27
Lot: 0.5
Close Date: 07/20/2007 03:34:19
Close Rate: 122.37
Gross PL: $40.85
Open Date: 07/20/2007 09:55:13
Instrument: USDJPY
B/S: Sell
Open Rate: 121.96
Lot: 0.5
Close Date: 07/20/2007 10:02:05
Close Rate: 121.86
Gross PL: $41.03
Open Date: 07/20/2007 10:50:17
Instrument: USDJPY
B/S: Buy
Open Rate: 121.16
Lot: 0.5
Close Date: 07/20/2007 11:10:18
Close Rate: 121.28
Gross PL: $49.46
Beginning Balance: $1,000.00
Ending Balance: $1337.77
Profit: 33.777%
Friday was an exciting night. The chart was moving so fast and so much that I could not take my eyes off the screen for long. Can you feel the excitement I felt looking at this?
I consider myself very lucky indeed to be able to participate in the Forex market. Everyday I wake up feeling blessed that I am able to trade again. I just simply love Forex!
Friday, July 20, 2007
Losing chain
This week I've experienced a whole chain of losing trades. It's almost in the pattern of one win followed by one loss. I remember what my trainer, KS, said before, that having consecutive losing trades is possible. That is where our money management plays an important part. Anyway, I shall not be discouraged by these losing trades. It is a good experience to have gone through them so that we will not be taken by surprise when we encounter such in a live account.
Open Date: 07/18/2007 11:34:31
Instrument: USDJPY
B/S: Sell
Open Rate: 121.74
Lot: 0.5
Close Date: 07/19/2007 05:48:42
Close Rate: 122.04
Gross PL: -$143.49 (including interest loss of $20.55)
Open Date: 07/19/2007 07:57:13
Instrument: USDJPY
B/S: Buy
Open Rate: 122.07
Lot: 0.5
Close Date: 07/19/2007 20:43:13
Close Rate: 122.17
Gross PL: $47.67 (including interest of $6.75)
Beginning Balance: $1,000.00
Ending Balance: $1206.43
Profit: 20.643% (reduced)
Open Date: 07/18/2007 11:34:31
Instrument: USDJPY
B/S: Sell
Open Rate: 121.74
Lot: 0.5
Close Date: 07/19/2007 05:48:42
Close Rate: 122.04
Gross PL: -$143.49 (including interest loss of $20.55)
Open Date: 07/19/2007 07:57:13
Instrument: USDJPY
B/S: Buy
Open Rate: 122.07
Lot: 0.5
Close Date: 07/19/2007 20:43:13
Close Rate: 122.17
Gross PL: $47.67 (including interest of $6.75)
Beginning Balance: $1,000.00
Ending Balance: $1206.43
Profit: 20.643% (reduced)
Wednesday, July 18, 2007
Are you sleeping, are you sleeping, brother john?
Can't help but sing this nursery rhyme when I look back at the trades I had for the day. I must be like brother john, sleeping through the day. Today I experienced a day of pure bad luck! :( Missed at least 2-3 winning trades. I wasn't monitoring closely when the market is in swing and by the time I noticed, the trend was over. Those I managed to engage in ended up in loss (well, most of them). The trade which was rollover from yesterday ended up a loss too.
Open Date: 07/17/2007 11:34:15
Instrument: USDJPY
B/S: Buy
Open Rate: 122.36
Lot: 0.5
Close Date: 07/17/2007 18:28:46
Close Rate: 122.06
Gross PL: -$116.14 (after deducting interest of $6.75)
Open Date: 07/18/2007 02:39:49
Instrument: USDJPY
B/S: Sell
Open Rate: 121.59
Lot: 0.5
Close Date: 07/18/2007 03:42:50
Close Rate: 121.89
Gross PL: -$123.09
Open Date: 07/18/2007 05:38:53
Instrument: USDJPY
B/S: Buy
Open Rate: 122.13
Lot: 0.5
Close Date: 07/18/2007 08:40:05
Close Rate: 122.23
Gross PL: $40.90
Beginning Balance: $1,000.00
Ending Balance: $1302.25
Profit: 30.225% (reduced)
I have one more trade engaged, this time a selling trade. I hope it won't end up like my trade yesterday night.
Open Date: 07/17/2007 11:34:15
Instrument: USDJPY
B/S: Buy
Open Rate: 122.36
Lot: 0.5
Close Date: 07/17/2007 18:28:46
Close Rate: 122.06
Gross PL: -$116.14 (after deducting interest of $6.75)
Open Date: 07/18/2007 02:39:49
Instrument: USDJPY
B/S: Sell
Open Rate: 121.59
Lot: 0.5
Close Date: 07/18/2007 03:42:50
Close Rate: 121.89
Gross PL: -$123.09
Open Date: 07/18/2007 05:38:53
Instrument: USDJPY
B/S: Buy
Open Rate: 122.13
Lot: 0.5
Close Date: 07/18/2007 08:40:05
Close Rate: 122.23
Gross PL: $40.90
Beginning Balance: $1,000.00
Ending Balance: $1302.25
Profit: 30.225% (reduced)
I have one more trade engaged, this time a selling trade. I hope it won't end up like my trade yesterday night.
Tuesday, July 17, 2007
It's update time!
I must admit I've been a little lazy with my update for the past few days. Apologies to those following my results. Anyway, I've got a mixture of wins and losses here, all by Strategy 2.
Open Date: 07/15/2007 21:15:24
Instrument: USDJPY
B/S: Buy
Open Rate: 122.11
Lot: 0.5
Close Date: 07/16/2007 00:52:23
Close Rate: 121.84
Gross PL: -$110.80
Open Date: 07/16/2007 00:59:35
Instrument: USDJPY
B/S: Sell
Open Rate: 121.81
Lot: 0.5
Close Date: 07/16/2007 05:05:59
Close Rate: 121.71
Gross PL: $41.08
Open Date: 07/17/2007 03:20:55
Instrument: USDJPY
B/S: Sell
Open Rate: 121.73
Lot: 0.5
Close Date: 07/17/2007 06:33:51
Close Rate: 122.00
Gross PL: -$110.68
Open Date: 07/17/2007 08:04:00
Instrument: USDJPY
B/S: Buy
Open Rate: 122.04
Lot: 0.5
Close Date: 07/17/2007 08:35:31
Close Rate: 122.14
Gross PL: S$40.93
Beginning Balance: $1,000.00
Ending Balance: $1500.59
Profit: 50.059%
The above 4 trades gives a net loss of $139.47. That brings my account level down to $1500.59.
For those who loves figures and stats, here they are.
So far, Strategy 1 has yielded a winning rate of 91.67%. This month has 100% winning trades so far, though I've only managed to catch 3 out of 4 trades.
Strategy 2 has a winning rate of 77.42% so far. This month alone has achieved 81.25% winning trades so far.
I've got one more trade engaged after the market finally moved a little. Shall report the result later.
Open Date: 07/15/2007 21:15:24
Instrument: USDJPY
B/S: Buy
Open Rate: 122.11
Lot: 0.5
Close Date: 07/16/2007 00:52:23
Close Rate: 121.84
Gross PL: -$110.80
Open Date: 07/16/2007 00:59:35
Instrument: USDJPY
B/S: Sell
Open Rate: 121.81
Lot: 0.5
Close Date: 07/16/2007 05:05:59
Close Rate: 121.71
Gross PL: $41.08
Open Date: 07/17/2007 03:20:55
Instrument: USDJPY
B/S: Sell
Open Rate: 121.73
Lot: 0.5
Close Date: 07/17/2007 06:33:51
Close Rate: 122.00
Gross PL: -$110.68
Open Date: 07/17/2007 08:04:00
Instrument: USDJPY
B/S: Buy
Open Rate: 122.04
Lot: 0.5
Close Date: 07/17/2007 08:35:31
Close Rate: 122.14
Gross PL: S$40.93
Beginning Balance: $1,000.00
Ending Balance: $1500.59
Profit: 50.059%
The above 4 trades gives a net loss of $139.47. That brings my account level down to $1500.59.
For those who loves figures and stats, here they are.
So far, Strategy 1 has yielded a winning rate of 91.67%. This month has 100% winning trades so far, though I've only managed to catch 3 out of 4 trades.
Strategy 2 has a winning rate of 77.42% so far. This month alone has achieved 81.25% winning trades so far.
I've got one more trade engaged after the market finally moved a little. Shall report the result later.
Saturday, July 14, 2007
Ups & downs?
Life is full of ups and downs, so is forex trading...lol...
After losing the double trades, I had a little win which bring my account back a little. :)
Open Date: 07/13/2007 08:38:00
Instrument: USDJPY
B/S: Sell
Open Rate: 122.21
Lot: 0.5
Close Date: 07/13/2007 09:19:56
Close Rate: 122.11
Gross PL: $40.97
Beginning Balance: $1,000.00
Ending Balance: $1,640.06
Profit: 64.006%
After losing the double trades, I had a little win which bring my account back a little. :)
Open Date: 07/13/2007 08:38:00
Instrument: USDJPY
B/S: Sell
Open Rate: 122.21
Lot: 0.5
Close Date: 07/13/2007 09:19:56
Close Rate: 122.11
Gross PL: $40.97
Beginning Balance: $1,000.00
Ending Balance: $1,640.06
Profit: 64.006%
Friday, July 13, 2007
Trades finally close, but...
The 2 trades finally close, but they are losses! And so I've incurred a DOUBLE loss this round and a large depreciation on my a/c level. 
Open Date: 07/12/2007 11:35:05
Instrument: USDJPY
B/S: Buy
Open Rate: 122.53
Lot: 1
Close Date: 07/13/2007 04:28:05
Close Rate: 122.23
Gross PL: -$231.93 (after deduction of $13.50 interest gain)
Beginning Balance: $1,000.00
Ending Balance: $1,599.10
Profit: 59.91% (reduction)
Open Date: 07/12/2007 11:35:05
Instrument: USDJPY
B/S: Buy
Open Rate: 122.53
Lot: 1
Close Date: 07/13/2007 04:28:05
Close Rate: 122.23
Gross PL: -$231.93 (after deduction of $13.50 interest gain)
Beginning Balance: $1,000.00
Ending Balance: $1,599.10
Profit: 59.91% (reduction)
SMS win
On a happier note, I've made a winning trade today base on the SMS alert.
Open Date: 07/13/2007 01:20:55
Instrument: GBPUSD
B/S: Sell
Open Rate: 2.0285
Lot: 0.5
Close Date: 07/13/2007 02:40:16
Close Rate: 2.0273
Gross PL: $60
Beginning Balance: $1,000.00
Ending Balance: $1,831.02
Profit: 83.102%
Open Date: 07/13/2007 01:20:55
Instrument: GBPUSD
B/S: Sell
Open Rate: 2.0285
Lot: 0.5
Close Date: 07/13/2007 02:40:16
Close Rate: 2.0273
Gross PL: $60
Beginning Balance: $1,000.00
Ending Balance: $1,831.02
Profit: 83.102%
Trade still not closed
The double trades I had yesterday was rollover. Till now they're still not closed as market has been moving sideways today. From the look of it, they do not seem to be moving in my favour. :(
As what KS has mentioned, it is always not good for a trade to be in the market for too long.
As what KS has mentioned, it is always not good for a trade to be in the market for too long.
Double trades engaged...arrrggghhhh!
I was placing my trade just now in the practice account while on the line. After the trade was submitted, nothing happened. I waited for a while for the trade to appear on my chart, but still nothing shown. Not suspecting anything (or rather not remembering to suspect something, coz such cases happened before), I went ahead to resubmit another trade. Still nothing shown on the chart. It was only then did I recall the problem and restarted my VT Trader. Sure enough, I had actually placed 2 exact trades. Now I must pray hard the market moves in my favour, otherwise I will incur double loss!
My latest results
I've got a more trades closed since my last update. Looks like I must really find time to update the results more frequently so that I don't end up losing track of them.
Open Date: 07/11/2007 16:03:00
Instrument: USDJPY
B/S: Buy
Open Rate: 122.29
Lot: 0.5
Close Date: 07/11/2007 16:09:07
Close Rate: 122.39
Gross PL: $40.83
Open Date: 07/11/2007 22:01:29
Instrument: USDJPY
B/S: Sell
Open Rate: 122.22
Lot: 0.5
Close Date: 07/12/2007 02:59:35
Close Rate: 122.12
Gross PL: $40.95
Open Date: 07/12/2007 08:29:37
Instrument: USDJPY
B/S: Buy
Open Rate: 122.19
Lot: 0.5
Close Date: 07/12/2007 08:52:16
Close Rate: 122.29
Gross PL: $40.88
Beginning Balance: $1,000.00
Ending Balance: $1,771.03
Profit: 77.103%
Open Date: 07/11/2007 16:03:00
Instrument: USDJPY
B/S: Buy
Open Rate: 122.29
Lot: 0.5
Close Date: 07/11/2007 16:09:07
Close Rate: 122.39
Gross PL: $40.83
Open Date: 07/11/2007 22:01:29
Instrument: USDJPY
B/S: Sell
Open Rate: 122.22
Lot: 0.5
Close Date: 07/12/2007 02:59:35
Close Rate: 122.12
Gross PL: $40.95
Open Date: 07/12/2007 08:29:37
Instrument: USDJPY
B/S: Buy
Open Rate: 122.19
Lot: 0.5
Close Date: 07/12/2007 08:52:16
Close Rate: 122.29
Gross PL: $40.88
Beginning Balance: $1,000.00
Ending Balance: $1,771.03
Profit: 77.103%
Wednesday, July 11, 2007
Too busy to trade
I had been so busy today that I haven't got much time to trade. I manage to close one more trade yesterday late night (based on Strategy 1). That makes strategy 1 an overall winning of 91.67% so far.
Open Date: 07/10/2007 11:15:30
Instrument: USDJPY
B/S: Buy
Open Rate: 122.18
Lot: 0.5
Close Date: 07/10/2007 13:09:31
Close Rate: 122.3
Gross PL: $49.05
Beginning Balance: $1,000.00
Ending Balance: $1,648.37
Profit: 64.837%
Open Date: 07/10/2007 11:15:30
Instrument: USDJPY
B/S: Buy
Open Rate: 122.18
Lot: 0.5
Close Date: 07/10/2007 13:09:31
Close Rate: 122.3
Gross PL: $49.05
Beginning Balance: $1,000.00
Ending Balance: $1,648.37
Profit: 64.837%
Tuesday, July 10, 2007
3 trades closed today
The market has been moving sideways earlier with me wondering when I can close the trade rollover from yesterday. Then towards the later part of the day it has dropped drastically over 130 pips! And so I was able to benefit from the volatility and had 3 trades closed, including the rollover trade.
Open Date: 07/09/2007 10:40:34
Instrument: USDJPY
B/S: Sell
Open Rate: 123.25
Lot: 0.5
Close Date: 07/10/2007 07:41:26
Close Rate: 123.15
Gross PL: $33.75 (after deducting interest of $6.85)
Open Date: 07/10/2007 05:50:19
Instrument: USDJPY
B/S: Sell
Open Rate: 123.18
Lot: 0.5
Close Date: 07/10/2007 07:46:53
Close Rate: 123.08
Gross PL: $40.62
Open Date: 07/10/2007 09:12:11
Instrument: USDJPY
B/S: Sell
Open Rate: 122.69
Lot: 0.5
Close Date: 07/10/2007 09:21:25
Close Rate: 122.51
Gross PL: $73.47
Beginning Balance: $1,000.00
Ending Balance: $1,599.32
Profit: 59.932%
The last trade was my "let your profit run" attempt. The market was moving furiously down then and I happen to catch it. :D
As of now, Strategy 1 has a winning rate of 90.9% (10 wins, 1 loss) and Strategy 2 has a winning rate of 81.82% (18 wins, 4 losses).
Open Date: 07/09/2007 10:40:34
Instrument: USDJPY
B/S: Sell
Open Rate: 123.25
Lot: 0.5
Close Date: 07/10/2007 07:41:26
Close Rate: 123.15
Gross PL: $33.75 (after deducting interest of $6.85)
Open Date: 07/10/2007 05:50:19
Instrument: USDJPY
B/S: Sell
Open Rate: 123.18
Lot: 0.5
Close Date: 07/10/2007 07:46:53
Close Rate: 123.08
Gross PL: $40.62
Open Date: 07/10/2007 09:12:11
Instrument: USDJPY
B/S: Sell
Open Rate: 122.69
Lot: 0.5
Close Date: 07/10/2007 09:21:25
Close Rate: 122.51
Gross PL: $73.47
Beginning Balance: $1,000.00
Ending Balance: $1,599.32
Profit: 59.932%
The last trade was my "let your profit run" attempt. The market was moving furiously down then and I happen to catch it. :D
As of now, Strategy 1 has a winning rate of 90.9% (10 wins, 1 loss) and Strategy 2 has a winning rate of 81.82% (18 wins, 4 losses).
First trade this week...win again :)
This week started off with a Strategy 1 trade, which closes nicely without having to rollover.
Open Date: 07/09/2007 04:24:40
Instrument: USDJPY
B/S: Sell
Open Rate: 123.37
Lot: 0.5
Close Date: 07/09/2007 10:43:42
Close Rate: 123.25
Gross PL: $48.68
Beginning Balance: $1,000.00
Ending Balance: $1,451.48
Profit: 45.148%
I've got another trade engaged, based on Strategy 2. The currency pair seems to be moving sideways, not too sure whether it'll go up or down. So how this trade closes is still a mystery...lol...
I've learnt an important lesson while trading yesterday. We must really practise detaching ourselves from emotions during trading. Not only applies to stop loss, but also profit taking. Do not be greedy and try to out beat the market, coz you may end up losing a trade which was originally winning and supposingly closing much earlier.
Open Date: 07/09/2007 04:24:40
Instrument: USDJPY
B/S: Sell
Open Rate: 123.37
Lot: 0.5
Close Date: 07/09/2007 10:43:42
Close Rate: 123.25
Gross PL: $48.68
Beginning Balance: $1,000.00
Ending Balance: $1,451.48
Profit: 45.148%
I've got another trade engaged, based on Strategy 2. The currency pair seems to be moving sideways, not too sure whether it'll go up or down. So how this trade closes is still a mystery...lol...
I've learnt an important lesson while trading yesterday. We must really practise detaching ourselves from emotions during trading. Not only applies to stop loss, but also profit taking. Do not be greedy and try to out beat the market, coz you may end up losing a trade which was originally winning and supposingly closing much earlier.
Saturday, July 7, 2007
Last trade for the week
This is the last trade I closed before the market rests over the weekend. Hopefully will have more chances to trade next week.
Open Date: 07/06/2007 06:31:06
Instrument: USDJPY
B/S: Buy
Open Rate: 123.29
Lot: 0.5
Close Date: 07/06/2007 08:31:13
Close Rate: 123.39
Gross PL: $40.51
Beginning Balance: $1,000.00
Ending Balance: $1,402.80
Profit: 40.28%
Open Date: 07/06/2007 06:31:06
Instrument: USDJPY
B/S: Buy
Open Rate: 123.29
Lot: 0.5
Close Date: 07/06/2007 08:31:13
Close Rate: 123.39
Gross PL: $40.51
Beginning Balance: $1,000.00
Ending Balance: $1,402.80
Profit: 40.28%
Friday, July 6, 2007
Trading resumed
I haven't got much time to trade in the last 2 days as I was busy packing and reorganising my room. Anyway there hasn't been much opportunities too in the last 2 days. Sort of resume my trading today, though I'm still in the midst of my packing. Manage to close one trade so far.
Open Date: 07/05/2007 17:10:44
Instrument: USDJPY
B/S: Buy
Open Rate: 123.00
Lot: 0.5
Close Date: 07/06/2007 00:03:45
Close Rate: 123.10
Gross PL: $40.61
Beginning Balance: $1,000.00
Ending Balance: $1,362.29
Profit: 36.229%
Market is moving upwards so far. I'm waiting it to continue moving up for another chance to go in, hopefully later.
In another less than 7 hours, the non-farm payroll report will be released. It'll be interesting to catch some waves there.
Open Date: 07/05/2007 17:10:44
Instrument: USDJPY
B/S: Buy
Open Rate: 123.00
Lot: 0.5
Close Date: 07/06/2007 00:03:45
Close Rate: 123.10
Gross PL: $40.61
Beginning Balance: $1,000.00
Ending Balance: $1,362.29
Profit: 36.229%
Market is moving upwards so far. I'm waiting it to continue moving up for another chance to go in, hopefully later.
In another less than 7 hours, the non-farm payroll report will be released. It'll be interesting to catch some waves there.
Thursday, July 5, 2007
Automated Trading System
Went for the automated trading system briefing yesterday night. It is a system that does all the tradings for you. The past returns is between 3-5% per month, or 10-12% per quarter.
The director of the company was the one who gave us the briefing yesterday. Hw went on to explain the kind of strategies used in this automated trading system and why they are relatively safe trades. The system is designed in such a way that it will only close each trade when it hits a certain profit target. There are only rare occasions when this cannot be done (e.g. slippage) and hence results in a loss.
Personally I view this as a good investment opportunity and have signed up. After all, this is an opportunity opened only to the course students. ;)
The director of the company was the one who gave us the briefing yesterday. Hw went on to explain the kind of strategies used in this automated trading system and why they are relatively safe trades. The system is designed in such a way that it will only close each trade when it hits a certain profit target. There are only rare occasions when this cannot be done (e.g. slippage) and hence results in a loss.
Personally I view this as a good investment opportunity and have signed up. After all, this is an opportunity opened only to the course students. ;)
Tuesday, July 3, 2007
Another strategy 2 win
Got another win for today, base on strategy 2 too.
Open Date: 07/03/2007 05:39:29
Instrument: USDJPY
B/S: Sell
Open Rate: 122.34
Lot: 0.5
Close Date: 07/03/2007 09:34:01
Close Rate: 122.24
Gross PL: $40.90
Beginning Balance: $1,000.00
Ending Balance: $1,321.68
Profit: 32.168%
Account is slowly climbing back to where it dropped off from...lol...
Open Date: 07/03/2007 05:39:29
Instrument: USDJPY
B/S: Sell
Open Rate: 122.34
Lot: 0.5
Close Date: 07/03/2007 09:34:01
Close Rate: 122.24
Gross PL: $40.90
Beginning Balance: $1,000.00
Ending Balance: $1,321.68
Profit: 32.168%
Account is slowly climbing back to where it dropped off from...lol...
The start of a new month
The start of July is good so far. I've won 2 trades, one on each strategy.
Open Date: 07/02/2007 09:27:52
Instrument: USDJPY
B/S: Sell
Open Rate: 122.47
Lot: 0.5
Close Date: 07/02/2007 10:31:46
Close Rate: 122.37
Gross PL: $40.86
Open Date: 07/02/2007 15:08:43
Instrument: USDJPY
B/S: Buy
Open Rate: 122.38
Lot: 0.5
Close Date: 07/03/2007 01:57:39
Close Rate: 122.50
Gross PL: $55.72 (include interest of $6.75)
Beginning Balance: $1,000.00
Ending Balance: $1,280.78
Profit: 28.078%
Open Date: 07/02/2007 09:27:52
Instrument: USDJPY
B/S: Sell
Open Rate: 122.47
Lot: 0.5
Close Date: 07/02/2007 10:31:46
Close Rate: 122.37
Gross PL: $40.86
Open Date: 07/02/2007 15:08:43
Instrument: USDJPY
B/S: Buy
Open Rate: 122.38
Lot: 0.5
Close Date: 07/03/2007 01:57:39
Close Rate: 122.50
Gross PL: $55.72 (include interest of $6.75)
Beginning Balance: $1,000.00
Ending Balance: $1,280.78
Profit: 28.078%
Monday, July 2, 2007
My mistakes
Have confirmed the previous two losing trades were partly my mistakes.
The first one, as I've said earlier, I was experimenting with some parameters. Although the trainer also commented in some occasions it might work, this is just not one of those occasion. ;P
The second one, according to the trainer, I've done it wrongly, although I think in a correct case, it may still be a losing trade, according to the trend I see.
But never mind, all in all, it's still part of my learning journey.
I'm glad that this blog has inspired some of you to learn forex and try to create a little income for yourself. I don't think I will get very rich trading forex. But if this can be another source of income for me, with a returns much better than leaving the money in the bank or losing them to some other online scams, then why not? :) Ultimately, it's better to depend on ourselves than on others to generate money for us. Be in control!
The first one, as I've said earlier, I was experimenting with some parameters. Although the trainer also commented in some occasions it might work, this is just not one of those occasion. ;P
The second one, according to the trainer, I've done it wrongly, although I think in a correct case, it may still be a losing trade, according to the trend I see.
But never mind, all in all, it's still part of my learning journey.
I'm glad that this blog has inspired some of you to learn forex and try to create a little income for yourself. I don't think I will get very rich trading forex. But if this can be another source of income for me, with a returns much better than leaving the money in the bank or losing them to some other online scams, then why not? :) Ultimately, it's better to depend on ourselves than on others to generate money for us. Be in control!
Saturday, June 30, 2007
Lousy day!
It's a lousy day today (or should I say yesterday?). I lost 2 trades consecutively.
The first one I didn't really follow the strategy strictly, was trying to experiment with some parameters changed and that was a lost.
The second one, well, not too sure if it was my judgement or what, also end up a losing trade. I think I'm going to send it to my coach to ask if I've done something wrongly!
Open Date: 06/29/2007 08:31:03
Instrument: USDJPY
B/S: Sell
Open Rate: 123.26
Lot: 0.5
Close Date: 06/29/2007 10:47:12
Close Rate: 123.56
Gross PL: -$121.43
Open Date: 06/29/2007 11:34:21
Instrument: USDJPY
B/S: Buy
Open Rate: 123.52
Lot: 0.5
Close Date: 06/29/2007 12:25:13
Close Rate: 123.22
Gross PL: -$121.73
Beginning Balance: $1,000.00
Ending Balance: $1,184.20
Profit: 18.42% (drastically reduced!)
The first one I didn't really follow the strategy strictly, was trying to experiment with some parameters changed and that was a lost.
The second one, well, not too sure if it was my judgement or what, also end up a losing trade. I think I'm going to send it to my coach to ask if I've done something wrongly!
Open Date: 06/29/2007 08:31:03
Instrument: USDJPY
B/S: Sell
Open Rate: 123.26
Lot: 0.5
Close Date: 06/29/2007 10:47:12
Close Rate: 123.56
Gross PL: -$121.43
Open Date: 06/29/2007 11:34:21
Instrument: USDJPY
B/S: Buy
Open Rate: 123.52
Lot: 0.5
Close Date: 06/29/2007 12:25:13
Close Rate: 123.22
Gross PL: -$121.73
Beginning Balance: $1,000.00
Ending Balance: $1,184.20
Profit: 18.42% (drastically reduced!)
Friday, June 29, 2007
Finally, a trade closed
After one boring day, I finally managed to close one trade today in profit. :D The dollar-yen must have awoken from its sleep...lol... The trade today is based on Strategy 2 and the win brings the % to 84.62%, with a profit of $248.32 from this strategy.
Open Date: 06/28/2007 22:56:52
Instrument: USDJPY
B/S: Buy
Open Rate: 123.31
Lot: 0.5
Close Date: 06/29/2007 00:02:53
Close Rate: 123.41
Gross PL: $40.51
Beginning Balance: $1,000.00
Ending Balance: $1,427.36
Profit: 42.736%
I will be out for the afternoon, so probably won't be trading since I can't monitor the trade before it gets engaged, unless I find a chance to enter the market again before I am out.
Open Date: 06/28/2007 22:56:52
Instrument: USDJPY
B/S: Buy
Open Rate: 123.31
Lot: 0.5
Close Date: 06/29/2007 00:02:53
Close Rate: 123.41
Gross PL: $40.51
Beginning Balance: $1,000.00
Ending Balance: $1,427.36
Profit: 42.736%
I will be out for the afternoon, so probably won't be trading since I can't monitor the trade before it gets engaged, unless I find a chance to enter the market again before I am out.
Thursday, June 28, 2007
I'm bored :(
I've watched the market the whole day today but couldn't find a chance to enter. All my trades have not been engaged so far and I had to cancel them due to change of condition.
High chance is I'll go meet my bed early tonight and just wait for the dollar-yen to wake up later.
High chance is I'll go meet my bed early tonight and just wait for the dollar-yen to wake up later.
Finally won on Strategy 1
I went into the market again yesterday night using Strategy 1 after the loss. It was engaged and I left it to run. Saw that it was a win this morning. :)
Open Date: 06/27/2007 09:53:39
Instrument: USDJPY
B/S: Buy
Open Rate: 122.52
Lot: 0.5
Close Date: 06/27/2007 15:29:08
Close Rate: 122.64
Gross PL: $48.91
Beginning Balance: $1,000.00
Ending Balance: $1,386.85
Profit: 38.685%
With this win, Strategy 1 now has a win rate 88.89% with a net profit of $212.04. I decide to update the net profit/loss from each strategy from now onwards as you'll probably agree with me, having a high % win does not imply that you will make money. Ultimately it'll depend on whether your wins can cover your losses so that you can stay in profit at the end of each month.
Open Date: 06/27/2007 09:53:39
Instrument: USDJPY
B/S: Buy
Open Rate: 122.52
Lot: 0.5
Close Date: 06/27/2007 15:29:08
Close Rate: 122.64
Gross PL: $48.91
Beginning Balance: $1,000.00
Ending Balance: $1,386.85
Profit: 38.685%
With this win, Strategy 1 now has a win rate 88.89% with a net profit of $212.04. I decide to update the net profit/loss from each strategy from now onwards as you'll probably agree with me, having a high % win does not imply that you will make money. Ultimately it'll depend on whether your wins can cover your losses so that you can stay in profit at the end of each month.
Wednesday, June 27, 2007
Good thing I still have a win...
It's a good thing I still have a win using Strategy 2 a little earlier, my 2nd win for the day.
Open Date: 06/27/2007 06:41:50
Instrument: USDJPY
B/S: Sell
Open Rate: 122.41
Lot: 0.5
Close Date: 06/27/2007 08:58:32
Close Rate: 122.31
Gross PL: $40.88
Beginning Balance: $1,000.00
Ending Balance: $1,337.94
Profit: 33.794% (reduced)
At a certain point in time, I had 2 opposing trades engaged, using the 2 different strategies, and both were in red! I called up my coach Edmund and confirmed that I had done the right thing. Had the market moved in the opposite direction, I would probably have lost both trades. Phew! At least now I still manage to win one. This 2nd win brings the winning to 83.33% for strategy 2.
Open Date: 06/27/2007 06:41:50
Instrument: USDJPY
B/S: Sell
Open Rate: 122.41
Lot: 0.5
Close Date: 06/27/2007 08:58:32
Close Rate: 122.31
Gross PL: $40.88
Beginning Balance: $1,000.00
Ending Balance: $1,337.94
Profit: 33.794% (reduced)
At a certain point in time, I had 2 opposing trades engaged, using the 2 different strategies, and both were in red! I called up my coach Edmund and confirmed that I had done the right thing. Had the market moved in the opposite direction, I would probably have lost both trades. Phew! At least now I still manage to win one. This 2nd win brings the winning to 83.33% for strategy 2.
First loss for Strategy 1
Today I hit the first loss for my strategy 1. :( That brings the winning from 100% to 87.5%. I shall wait a while to see if I can enter the market again.
Open Date: 06/27/2007 02:59:01
Instrument: USDJPY
B/S: Buy
Open Rate: 122.69
Lot: 0.5
Close Date: 06/27/2007 08:59:12
Close Rate: 122.24
Gross PL: -$184.06
The lesson learnt from this is, the timing of entry determines the success of the trade. A different person using the same strategy but entering the market slightly later than me would probably have not hit the loss.
Open Date: 06/27/2007 02:59:01
Instrument: USDJPY
B/S: Buy
Open Rate: 122.69
Lot: 0.5
Close Date: 06/27/2007 08:59:12
Close Rate: 122.24
Gross PL: -$184.06
The lesson learnt from this is, the timing of entry determines the success of the trade. A different person using the same strategy but entering the market slightly later than me would probably have not hit the loss.
Today is a Strategy 1 trading day
Another trade according to strategy 1 just got engaged. It will probably take a while before that can close. Let's see if we can still hit 100% winning trade after this one.
Strategy 2, Way to go!
I had another win using Strategy 2 this morning. That makes 9 wins out of 11 trades, a healthy 81.82%. Hope to engage more trades today.
Open Date: 06/27/2007 00:33:38
Instrument: USDJPY
B/S: Sell
Open Rate: 122.89
Lot: 0.5
Close Date: 06/27/2007 01:44:59
Close Rate: 122.79
Gross PL: $40.72
Beginning Balance: $1,000.00
Ending Balance: $1,481.13
Profit: 48.113%
My demo account is approaching 50% profit, which I think is very good results for less than a month of trading. But this is of course base on a high risk of over 10%, which shouldn't be the case for a live account. If I can achieve 20% returns for live account, I would consider that to be very good results too.
Open Date: 06/27/2007 00:33:38
Instrument: USDJPY
B/S: Sell
Open Rate: 122.89
Lot: 0.5
Close Date: 06/27/2007 01:44:59
Close Rate: 122.79
Gross PL: $40.72
Beginning Balance: $1,000.00
Ending Balance: $1,481.13
Profit: 48.113%
My demo account is approaching 50% profit, which I think is very good results for less than a month of trading. But this is of course base on a high risk of over 10%, which shouldn't be the case for a live account. If I can achieve 20% returns for live account, I would consider that to be very good results too.
My last win for the day
The day closed off wonderfully with my 5th win for the day, based on strategy 2. In total, I've traded 3 on strategy 2, 1 on strategy 1 and 1 on SMS alert for the day.
Open Date: 06/26/2007 10:05:44
Instrument: USDJPY
B/S: Buy
Open Rate: 123.26
Lot: 0.5
Close Date: 06/26/2007 11:50:10
Close Rate: 123.36
Gross PL: $40.52
Beginning Balance: $1,000.00
Ending Balance: $1,440.40
Profit: 44.04%
This brings me to 8 wins out of 10 trades for strategy 2 so far, a fair 80% winning trades, all in less than 2 weeks. I shall continue to monitor the results of this new strategy.
I'm beginning to wish that this was my live account...lol...
Open Date: 06/26/2007 10:05:44
Instrument: USDJPY
B/S: Buy
Open Rate: 123.26
Lot: 0.5
Close Date: 06/26/2007 11:50:10
Close Rate: 123.36
Gross PL: $40.52
Beginning Balance: $1,000.00
Ending Balance: $1,440.40
Profit: 44.04%
This brings me to 8 wins out of 10 trades for strategy 2 so far, a fair 80% winning trades, all in less than 2 weeks. I shall continue to monitor the results of this new strategy.
I'm beginning to wish that this was my live account...lol...
Tuesday, June 26, 2007
SMS trade closed
The SMS trade was closed in profits. :)
Open Date: 06/26/2007 06:31:18
Instrument: GBPUSD
B/S: Buy
Open Rate: 1.9988
Lot: 0.5
Close Date: 06/26/2007 08:40:18
Close Rate: 2.00
Gross PL: $60.00
Beginning Balance: $1,000.00
Ending Balance: $1,399.88
Profit: 39.988%
Open Date: 06/26/2007 06:31:18
Instrument: GBPUSD
B/S: Buy
Open Rate: 1.9988
Lot: 0.5
Close Date: 06/26/2007 08:40:18
Close Rate: 2.00
Gross PL: $60.00
Beginning Balance: $1,000.00
Ending Balance: $1,399.88
Profit: 39.988%
3rd win for the day
Just closed another trade, this time according to strategy 1. The trade was engaged and closed within 45 mins. Still 100% winning trade so far for strategy 1.
Open Date: 06/26/2007 07:18:02
Instrument: USDJPY
B/S: Buy
Open Rate: 123.10
Lot: 0.5
Close Date: 06/26/2007 07:59:03
Close Rate: 123.22
Gross PL: $48.68
Beginning Balance: $1,000.00
Ending Balance: $1,339.88
Profit: 33.988%
The SMS trade was engagaed too, but yet to be closed. Things look good now, hopefully can close in profit soon.
Open Date: 06/26/2007 07:18:02
Instrument: USDJPY
B/S: Buy
Open Rate: 123.10
Lot: 0.5
Close Date: 06/26/2007 07:59:03
Close Rate: 123.22
Gross PL: $48.68
Beginning Balance: $1,000.00
Ending Balance: $1,339.88
Profit: 33.988%
The SMS trade was engagaed too, but yet to be closed. Things look good now, hopefully can close in profit soon.
2 more wins for Strategy 2 today
Today is a good day for Strategy 2. Have 2 wins so far.
Open Date: 06/26/2007 01:38:09
Instrument: USDJPY
B/S: Sell
Open Rate: 123.35
Lot: 0.5
Close Date: 06/26/2007 02:25:32
Close Rate: 123.25
Gross PL: $40.57
Open Date: 06/26/2007 03:27:04
Instrument: USDJPY
B/S: Sell
Open Rate: 123.18
Lot: 0.5
Close Date: 06/26/2007 05:00:58
Close Rate: 123.00
Gross PL: $73.17
Beginning Balance: $1,000.00
Ending Balance: $1,291.20
Profit: 29.12%
Noticed the win for the 2nd order is bigger than my normal win. That was because I happen to be watching the market when it approached my profit limit. Decided to shift my PL as the price continued to drop. Finally I decided to stop at 123.00 and end it off with a 18 pips gain, 8 pips more than the norm. Of course this is a rather dangerous thing to do as you never know when the market will move against you. But it was very exciting. I remember a friend of mine told me about using trailing stop in such situation. I must really go and learn about that.
Open Date: 06/26/2007 01:38:09
Instrument: USDJPY
B/S: Sell
Open Rate: 123.35
Lot: 0.5
Close Date: 06/26/2007 02:25:32
Close Rate: 123.25
Gross PL: $40.57
Open Date: 06/26/2007 03:27:04
Instrument: USDJPY
B/S: Sell
Open Rate: 123.18
Lot: 0.5
Close Date: 06/26/2007 05:00:58
Close Rate: 123.00
Gross PL: $73.17
Beginning Balance: $1,000.00
Ending Balance: $1,291.20
Profit: 29.12%
Noticed the win for the 2nd order is bigger than my normal win. That was because I happen to be watching the market when it approached my profit limit. Decided to shift my PL as the price continued to drop. Finally I decided to stop at 123.00 and end it off with a 18 pips gain, 8 pips more than the norm. Of course this is a rather dangerous thing to do as you never know when the market will move against you. But it was very exciting. I remember a friend of mine told me about using trailing stop in such situation. I must really go and learn about that.
SMS Alert again
Received another SMS alert today to long GBPUSD. Have submitted the order but is yet to be engaged. We shall see the result of this alert later.
Strategy 2 strikes again!
Had another winning trade base on strategy 2 yesterday.
Open Date: 06/25/2007 04:08:39
Instrument: USDJPY
B/S: Sell
Open Rate: 123.62
Lot: 0.5
Close Date: 06/25/2007 04:56:33
Close Rate: 123.52
Gross PL: $40.48
Beginning Balance: $1,000.00
Ending Balance: $1,177.46
Profit: 17.746% (reduced)
Learnt something new today. I finally discovered why my last trade was missing, coz the missing act happened again yesterday! It was due to opposing trades (buy & sell together). So when one trade got engaged and hit the other's entry point, the other trade will be deleted automatically. This happens for VT Trader, which I'm using. I tested the same scenario using another platform, it doesn't seem to be deleted.
I also learnt from my trainer that to prevent such scenario from happening, I should indicate the later trade as hedging. Hmm...has no idea what is hedging. I shall go check out babypips to learn about it. Was halfway through my lesson yesterday.
Forex is indeed an interesting field to study!
Open Date: 06/25/2007 04:08:39
Instrument: USDJPY
B/S: Sell
Open Rate: 123.62
Lot: 0.5
Close Date: 06/25/2007 04:56:33
Close Rate: 123.52
Gross PL: $40.48
Beginning Balance: $1,000.00
Ending Balance: $1,177.46
Profit: 17.746% (reduced)
Learnt something new today. I finally discovered why my last trade was missing, coz the missing act happened again yesterday! It was due to opposing trades (buy & sell together). So when one trade got engaged and hit the other's entry point, the other trade will be deleted automatically. This happens for VT Trader, which I'm using. I tested the same scenario using another platform, it doesn't seem to be deleted.
I also learnt from my trainer that to prevent such scenario from happening, I should indicate the later trade as hedging. Hmm...has no idea what is hedging. I shall go check out babypips to learn about it. Was halfway through my lesson yesterday.
Forex is indeed an interesting field to study!
Losing SMS trade
My first SMS trade turns out to be a losing trade...lol...
Open Date: 06/24/2007 23:53:32
Instrument: USDJPY
B/S: Buy
Open Rate: 123.90
Lot: 0.5
Close Date: 06/25/2007 04:06:35
Close Rate: 123.62
Gross PL: -$113.25
Open Date: 06/24/2007 23:53:32
Instrument: USDJPY
B/S: Buy
Open Rate: 123.90
Lot: 0.5
Close Date: 06/25/2007 04:06:35
Close Rate: 123.62
Gross PL: -$113.25
Monday, June 25, 2007
First SMS Trade
Manage to engage my first trade base on the SMS alert today. But it doesn't seem to be going towards my desired direction...lol...
We shall see how things go later.
We shall see how things go later.
Good old Strategy
The Strategy 1 is good (after all it's based on research done from 30 years of data). It has won me another trade early this morning, the missing trade which I've resubmitted yesterday. So far it has achieved a 100% winning trades. Fantastic result!
Open Date: 06/24/2007 16:16:21
Instrument: USDJPY
B/S: Sell
Open Rate: 123.86
Lot: 0.5
Close Date: 06/24/2007 17:07:53
Close Rate: 123.73
Gross PL: $52.53
Beginning Balance: $1,000.00
Ending Balance: $1,250.23
Profit: 25.023%
Open Date: 06/24/2007 16:16:21
Instrument: USDJPY
B/S: Sell
Open Rate: 123.86
Lot: 0.5
Close Date: 06/24/2007 17:07:53
Close Rate: 123.73
Gross PL: $52.53
Beginning Balance: $1,000.00
Ending Balance: $1,250.23
Profit: 25.023%
Saturday, June 23, 2007
SMS Alerts Missed......
Got another SMS alert for GBPUSD while I was out yesterday, so missed the chance again.
Received another SMS alert a few days ago too. But the SMS came in late. When I looked at the chart, it was already engaged and too near the profit limit. So I didn't catch the trend too.
Have not successfully submitted a trade from the SMS alert yet. I hope the next one I'll be able to catch it.
Received another SMS alert a few days ago too. But the SMS came in late. When I looked at the chart, it was already engaged and too near the profit limit. So I didn't catch the trend too.
Have not successfully submitted a trade from the SMS alert yet. I hope the next one I'll be able to catch it.
Another loss...
Yesterday was a very busy day for me, didn't have much time to look at my beloved Forex as I was out since lunch and didn't really have time to spare till late night.
But I managed to submit 2 trades before I went out yesterday, one based on strategy 1 and the other on strategy 2.
The one on strategy 2 was engaged. By the time I checked this morning, it had hit the stop loss point. That makes 2 losses out of 6 trades so far, a 66.67% win. The is the result for 1 week of trading. I need at least another 3 weeks of testing before I can have a better conclusion for strategy 2.
Something weird happen to my other submitted trade (based on Strategy 1). It had disappeared completely from my trading platform!! By the look of the chart, it should have been engaged and moving towards positive end. How weird! I've sent a support message to the trading broker. Hopefully they can get back to me. Otherwise I would have lost a chance to a winning trade by no reason at all!
Open Date: 06/22/2007 07:37:50
Instrument: USDJPY
B/S: Buy
Open Rate: 124.13
Lot: 0.5
Close Date: 06/22/2007 13:07:56
Close Rate: 123.85
Gross PL: -$113.04
Beginning Balance: $1,000.00
Ending Balance: $1,197.70
Profit: 19.77% (reduced)
But I managed to submit 2 trades before I went out yesterday, one based on strategy 1 and the other on strategy 2.
The one on strategy 2 was engaged. By the time I checked this morning, it had hit the stop loss point. That makes 2 losses out of 6 trades so far, a 66.67% win. The is the result for 1 week of trading. I need at least another 3 weeks of testing before I can have a better conclusion for strategy 2.
Something weird happen to my other submitted trade (based on Strategy 1). It had disappeared completely from my trading platform!! By the look of the chart, it should have been engaged and moving towards positive end. How weird! I've sent a support message to the trading broker. Hopefully they can get back to me. Otherwise I would have lost a chance to a winning trade by no reason at all!
Open Date: 06/22/2007 07:37:50
Instrument: USDJPY
B/S: Buy
Open Rate: 124.13
Lot: 0.5
Close Date: 06/22/2007 13:07:56
Close Rate: 123.85
Gross PL: -$113.04
Beginning Balance: $1,000.00
Ending Balance: $1,197.70
Profit: 19.77% (reduced)
Friday, June 22, 2007
Another win for Strategy 2
Had another win with strategy 2. Earn an extra interest of $6.75 due to rollover.
Open Date: 06/21/2007 07:01:54
Instrument: USDJPY
B/S: Buy
Open Rate: 123.73
Lot: 0.5
Close Date: 06/21/2007 20:21:30
Close Rate: 123.83
Gross PL: $40.37
Beginning Balance: $1,000.00
Ending Balance: $1,310.74
Profit: 31.07%
I am in the midst of searching for a local forex broker to start my live account. Need to access a few platforms before deciding which one to take. Currently I have 2 brokers in mind, but need to get used to the platform first.
Open Date: 06/21/2007 07:01:54
Instrument: USDJPY
B/S: Buy
Open Rate: 123.73
Lot: 0.5
Close Date: 06/21/2007 20:21:30
Close Rate: 123.83
Gross PL: $40.37
Beginning Balance: $1,000.00
Ending Balance: $1,310.74
Profit: 31.07%
I am in the midst of searching for a local forex broker to start my live account. Need to access a few platforms before deciding which one to take. Currently I have 2 brokers in mind, but need to get used to the platform first.
Thursday, June 21, 2007
3 more winning trades :)
Had closed 3 more winning trades since the last losing one.
One of them was the last open trade for strategy 1 which has rollover for 3 days. I ended up having to pay 3 days of interest but still managed to close in profits. The other 2 were based on the new strategy.
Open Date: 06/15/2007 14:26:25
Instrument: USDJPY
B/S: Sell
Open Rate: 123.38
Lot: 0.5
Close Date: 06/20/2007 02:10:47
Close Rate: 123.26
Gross PL: $28.13 (after deducting 3 days interest of $20.55)
Open Date: 06/19/2007 14:04:39
Instrument: USDJPY
B/S: Sell
Open Rate: 123.33
Lot: 0.5
Close Date: 06/20/2007 02:17:58
Close Rate: 123.23
Gross PL: $40.57
Open Date: 06/20/2007 10:25:01
Instrument: USDJPY
B/S: Buy
Open Rate: 123.58
Lot: 0.5
Close Date: 06/21/2007 00:20:44
Close Rate: 123.69
Gross PL: $44.46
Beginning Balance: $1,000.00
Ending Balance: $1,263.62
Profit: 26.362%
I have traded 5 trades based on strategy 1 over a period of slightly less than half a month and all have ended up in profits. That gives a winning rate of 100% so far. For strategy 2, I have executed 4 trades over a period of 1 week, with 1 losing trade. That gives a winning rate of 75%, not bad too. But more monitoring is needed (probably over a period of 2 months) before I can really have a good feel of how things are going.
So if you're reading this blog, remember to follow me for the rest of the 2 months to assess the results. You may then decide for yourself later, whether this is your cup of tea.
One of them was the last open trade for strategy 1 which has rollover for 3 days. I ended up having to pay 3 days of interest but still managed to close in profits. The other 2 were based on the new strategy.
Open Date: 06/15/2007 14:26:25
Instrument: USDJPY
B/S: Sell
Open Rate: 123.38
Lot: 0.5
Close Date: 06/20/2007 02:10:47
Close Rate: 123.26
Gross PL: $28.13 (after deducting 3 days interest of $20.55)
Open Date: 06/19/2007 14:04:39
Instrument: USDJPY
B/S: Sell
Open Rate: 123.33
Lot: 0.5
Close Date: 06/20/2007 02:17:58
Close Rate: 123.23
Gross PL: $40.57
Open Date: 06/20/2007 10:25:01
Instrument: USDJPY
B/S: Buy
Open Rate: 123.58
Lot: 0.5
Close Date: 06/21/2007 00:20:44
Close Rate: 123.69
Gross PL: $44.46
Beginning Balance: $1,000.00
Ending Balance: $1,263.62
Profit: 26.362%
I have traded 5 trades based on strategy 1 over a period of slightly less than half a month and all have ended up in profits. That gives a winning rate of 100% so far. For strategy 2, I have executed 4 trades over a period of 1 week, with 1 losing trade. That gives a winning rate of 75%, not bad too. But more monitoring is needed (probably over a period of 2 months) before I can really have a good feel of how things are going.
So if you're reading this blog, remember to follow me for the rest of the 2 months to assess the results. You may then decide for yourself later, whether this is your cup of tea.
Tuesday, June 19, 2007
My first losing trade
Had my first losing trade today. Placed a Short order according to strategy 2. Trend did not move downwards long enough and had to stop loss. Lost $121.37 from my practise account.
Open Date: 06/18/2007 07:55:09
Instrument: USDJPY
B/S: Sell
Open Rate: 123.32
Lot: 0.5
Close Date: 06/18/2007 10:53:38
Close Rate: 123.62
Gross PL: -$121.37
Beginning Balance: $1,000.00
Ending Balance: $1,130.21
Profit: 13.021% (reduced)
Open Date: 06/18/2007 07:55:09
Instrument: USDJPY
B/S: Sell
Open Rate: 123.32
Lot: 0.5
Close Date: 06/18/2007 10:53:38
Close Rate: 123.62
Gross PL: -$121.37
Beginning Balance: $1,000.00
Ending Balance: $1,130.21
Profit: 13.021% (reduced)
Monday, June 18, 2007
Boring Monday?
Market is moving sideways today at a difference of around 20 pips. My trade for the first strategy submitted since last Fri has been engaged but yet to be closed. Looks like it'll take a while before it closes at the rate it is going. Had to pay for an interest of $6.85 since it's a sell order.
Friday, June 15, 2007
1st win for second strategy!
I'm so excited! My first trade for second strategy has closed and made a profit of 10 pips! I'm really beginning to love Forex! But I think I will need many more practices to get myself quick enough to work out the new strategy.
Open Date: 06/14/2007 21:01:02
Instrument: USDJPY
B/S: Buy
Open Rate: 123.09
Lot: 0.5
Close Date: 06/15/2007 03:34:06
Close Rate: 123.19
Gross PL: $40.58
Beginning Balance: $1,000.00
Ending Balance: $1,258.43
Profit: 25.8%
Open Date: 06/14/2007 21:01:02
Instrument: USDJPY
B/S: Buy
Open Rate: 123.09
Lot: 0.5
Close Date: 06/15/2007 03:34:06
Close Rate: 123.19
Gross PL: $40.58
Beginning Balance: $1,000.00
Ending Balance: $1,258.43
Profit: 25.8%
Second strategy
I went for the class on Tue and Thurs to learn the 2nd strategy. It's not as straight forward as the 1st strategy, so I'll probably need more practice to get the hang of it.
Came back from the course yesterday night and placed my first trade according to the second strategy. It was engaged, but now still in the red...lol... The second strategy gives us more opportunities to trade, but it's also easier to lose a trade, as compared to the first strategy. This is of course just my gut feel opinion. Overall the monthly performance is still around 80%, according to KS. I think will need at least a month before I can ascertain whether I can master this new strategy. The first strategy was a no brainer and I'm quite confident to handle that now.
Came back from the course yesterday night and placed my first trade according to the second strategy. It was engaged, but now still in the red...lol... The second strategy gives us more opportunities to trade, but it's also easier to lose a trade, as compared to the first strategy. This is of course just my gut feel opinion. Overall the monthly performance is still around 80%, according to KS. I think will need at least a month before I can ascertain whether I can master this new strategy. The first strategy was a no brainer and I'm quite confident to handle that now.
Back to trade
Back from my Genting trip on Monday night. Realised I've missed a chance to trade on Friday when I was away. Not too bad, just one chance missed.
From the time I'm back till now, I only saw one more opportunity to trade according to the first strategy learnt. Placed a trade on Wed night, but till now the trade is still not engaged as the price keeps moving up. Have been changing my trade order accordingly. Hopefully it'll get engaged soon.
From the time I'm back till now, I only saw one more opportunity to trade according to the first strategy learnt. Placed a trade on Wed night, but till now the trade is still not engaged as the price keeps moving up. Have been changing my trade order accordingly. Hopefully it'll get engaged soon.
Thursday, June 7, 2007
Holiday mood
I'll be away from tomorrow till Friday spending my time with the kids at Genting. I'll probably miss a few trends and trading opportunities these few days. But there are always more opportunities after that.
Results these 2 days
Got a SMS alert to Short GBPUSD yesterday. But I was out and miss the chance to try my hands on the SMS alerts.
Found a chance to trade yesterday night when I came back. Place a LONG trade according to the teachings. The trade did not manage to close and was rollover. As a result, I gain an interest of $20.25 in my account for the half lot. At one point in time, I thought I would have to stop loss as it was just 4 pips above my stop loss point!
This morning found another chance to trade. Close the trade in about 5 hrs. And yesterday rollover trade manage to close after that too! Double good news!
Open Date: 06/06/2007 09:01:02
Instrument: USDJPY
B/S: Buy
Open Rate: 121.18
Lot: 0.5
Close Date: 06/07/2007 02:04:33
Close Rate: 121.30
Gross PL: $49.45
Open Date: 06/06/2007 21:39:37
Instrument: USDJPY
B/S: Buy
Open Rate: 121.06
Lot: 0.5
Close Date: 06/07/2007 00:14:24
Close Rate: 121.18
Gross PL: $49.50
Beginning Balance: $1,000.00
Ending Balance: $1,217.85
Profit: 21.7%
Found a chance to trade yesterday night when I came back. Place a LONG trade according to the teachings. The trade did not manage to close and was rollover. As a result, I gain an interest of $20.25 in my account for the half lot. At one point in time, I thought I would have to stop loss as it was just 4 pips above my stop loss point!
This morning found another chance to trade. Close the trade in about 5 hrs. And yesterday rollover trade manage to close after that too! Double good news!
Open Date: 06/06/2007 09:01:02
Instrument: USDJPY
B/S: Buy
Open Rate: 121.18
Lot: 0.5
Close Date: 06/07/2007 02:04:33
Close Rate: 121.30
Gross PL: $49.45
Open Date: 06/06/2007 21:39:37
Instrument: USDJPY
B/S: Buy
Open Rate: 121.06
Lot: 0.5
Close Date: 06/07/2007 00:14:24
Close Rate: 121.18
Gross PL: $49.50
Beginning Balance: $1,000.00
Ending Balance: $1,217.85
Profit: 21.7%
Tuesday, June 5, 2007
Lesson learnt
Today's trade makes me realise something.
1) If I am watching the market after my trade is engaged, I should let the profit run instead of taking the profit strictly according to the forumla. I remember David said at the preview session - A good Forex trader will cut his loss but let his profits run.
2) The timing of checking the market does make a difference. Imagine someone who has only checked the market now, just to realise that the trend is over, he would have miss the opportunity to make money. Of course there will always be a next chance, but frequent checking of the market DOES make a difference. I begin to understand why KS encouraged us to check and record the market statistics at different timing of the day. Like what he said, it's to give us a good feel of how the market is performing.
1) If I am watching the market after my trade is engaged, I should let the profit run instead of taking the profit strictly according to the forumla. I remember David said at the preview session - A good Forex trader will cut his loss but let his profits run.
2) The timing of checking the market does make a difference. Imagine someone who has only checked the market now, just to realise that the trend is over, he would have miss the opportunity to make money. Of course there will always be a next chance, but frequent checking of the market DOES make a difference. I begin to understand why KS encouraged us to check and record the market statistics at different timing of the day. Like what he said, it's to give us a good feel of how the market is performing.
Today in profit again
I started observing the USD/JPY when I woke up this morning. I had my trading platform open the whole day. It does not show any trend I'm waiting for in the whole morning and afternoon. In fact it was just lingering in the range of 121.55-121.92. I thought today would just pass on and didn't bother to check much, except occasional check. I was glad I still do the occasional check.
In the evening around 9pm, I notice the currency was dipping quickly. It was moving towards where I wanted it to be. I watch eagerly for the moment and finally managed to submit my trade. It was engaged and closed within 15 mins. I made a profit of $49.36 in my practise account today.
Open Date: 06/05/2007 10:00:59
Instrument: USDJPY
B/S: Buy
Open Rate: 121.40
Lot: 0.5
Close Date: 06/05/2007 10:13:55
Close Rate: 121.52
Gross PL: $49.36
Beginning Balance: $1,049.29
Ending Balance: $1,098.65
Profit: 4.7%
In the evening around 9pm, I notice the currency was dipping quickly. It was moving towards where I wanted it to be. I watch eagerly for the moment and finally managed to submit my trade. It was engaged and closed within 15 mins. I made a profit of $49.36 in my practise account today.
Open Date: 06/05/2007 10:00:59
Instrument: USDJPY
B/S: Buy
Open Rate: 121.40
Lot: 0.5
Close Date: 06/05/2007 10:13:55
Close Rate: 121.52
Gross PL: $49.36
Beginning Balance: $1,049.29
Ending Balance: $1,098.65
Profit: 4.7%
Monday, June 4, 2007
My first trade
Today I did my first trades in my practise account. In fact I had about 6 practise accounts, all used for different testing purposes. I created 5 accounts with $10,000 base and 1 account with $1,000 base. I use 3 of the $10k accounts to test out 3 different parameters.
One ended up in a small loss. But that was primarily my fault. That was the very first trade I've placed and being a newbie, I made a mistake of looking at the Bid price when I should've looked at the Ask price.
The other 2 of the $10k accounts ended in profit, one being more than the other.
The $1k account is my primary account to practise the strategies taught in class. I purposely created a $1k account 'coz I thought that was a realistic amount to start with in a live account. I mean, not everyone has $10k in real live to play with! The strategies work well and I made a profit of $49.29 in my primary account. That traslates to 4.929% in one day, not bad at all!
Open Date: 06/04/2007 08:29:50
Instrument: USDJPY
B/S: Sell
Open Rate: 121.85
Lot: 0.5
Close Date: 06/04/2007 08:47:42
Close Rate: 121.73
Gross PL: $49.29
Beginning Balance: $1,000.00
Ending Balance: $1,049.29
One ended up in a small loss. But that was primarily my fault. That was the very first trade I've placed and being a newbie, I made a mistake of looking at the Bid price when I should've looked at the Ask price.
The other 2 of the $10k accounts ended in profit, one being more than the other.
The $1k account is my primary account to practise the strategies taught in class. I purposely created a $1k account 'coz I thought that was a realistic amount to start with in a live account. I mean, not everyone has $10k in real live to play with! The strategies work well and I made a profit of $49.29 in my primary account. That traslates to 4.929% in one day, not bad at all!
Open Date: 06/04/2007 08:29:50
Instrument: USDJPY
B/S: Sell
Open Rate: 121.85
Lot: 0.5
Close Date: 06/04/2007 08:47:42
Close Rate: 121.73
Gross PL: $49.29
Beginning Balance: $1,000.00
Ending Balance: $1,049.29
Sunday, June 3, 2007
Personal Coach
I was running through the notes and strategies and a lot of questions start popping up. I sent them to KS. Was just trying my luck and wasn't really sure if he'll reply back. To my pleasant surprise I saw his replies in my mailbox in less than 24 hours! There were a few correspondences between us as more and more questions pop up along the way. KS was very patient in explaining to a newbie like me and even gave examples to illustrate. Some of his replies came in real fast! He even shared some of his strategies with me. Kudos to his commitment!
Saturday, June 2, 2007
My first Forex class
I've attended my first Forex class today. It lasted for more than 4 hours. The instructor, KS, was very patient and knowledgeable. I'm pretty excited and am eagerly waiting for Mon to put what I've learnt into practice!
Sunday, May 27, 2007
Forex Preview
I was introduced to this forex preview by my brother-in-law about a month ago. He has attended the course and his practise account has apparently been doing quite well for a month's trading. I have hesitated for a few weeks whether to go for the preview as I know the actual course is very expensive.
Curiousity finally got the better of me and I decided to sign up for the preview. I reckon there is no harm since the preview is free and has no obligation. My bro-in-law won't cheat me on that...LOL... So I went on to attend the preview yesterday evening.
I learnt from the presenter, David, that the company sources for powerful Forex strategies and bring them in to Singapore. They taught these strategies to their members to learn how to trade in Forex successfully, even if you have no prior Forex knowledge, like me. I have heard quite a bit about Forex from others prior to the preview, that Forex is extremely risky and can burn a big hole in your pocket if you do not know what you're doing.
I must say I'm quite impressed with David. He's not the typical salesman who will promote you something by telling you all the good of it. He mentioned that Forex trading may not be for everybody. E.g. if you're the kind who cannot even stand 1 loss, then trading is probably not your cup of tea, 'coz when you place a trade, you're automatically on the losing end due to the spread of the Bid/Ask price. He also explained that real trading can be different from practise account due to emotion factor stepping in (how true!). He doesn't give you unrealistic expectations that you will get rich quick with forex, just plain simple facts. So I'm quite happy with his presentation.
He went on to explain a little on what we will get with the course, etc. I was especially interested in the automated trading system that he mentioned. That will definitely be my target after I've got enough profits.
After we complete the course, we are expected to perform trading using a practise account (with live data, of course) for at least 3-6 months to familiarise the strategies taught. The stratgies they brought in have a success rate of about 80%-90%, pretty impressive.
I've signed up the course after the preview. Although it pains me to part with my money (especially since it's not a small amount), I reckon it's still worth a try especially if I were to pick up a skill that could earn me a nice little income down the road.
I will be attending my first class next Sat. I'm eagerly looking forward to putting my hands into the trading and seeing the results myself. So stay tune to this blog if you wish to know the results of the strategies taught.
A little more about what you'll get for signing up the course:
- A personal 1-to-1 coach to answer your questions and guide you along, should you need help with the trading.
- Unlimited re-attendance of course within 6 months till you really drill the strategies into your head.
- Sharing the course with up to 3 other of your immediate family members (econmoy of scale).
- Money back guarantee if you do not show any profits in your practise account after 6 months of trading in a consistent manner.
- Signing up for the automated trading system which does all the trades for you, hands free!
If you're interested to go for the preview too, just drop me an email at mtebiz@gmail.com with the subject "Forex Preview" and I will get back to you.
Curiousity finally got the better of me and I decided to sign up for the preview. I reckon there is no harm since the preview is free and has no obligation. My bro-in-law won't cheat me on that...LOL... So I went on to attend the preview yesterday evening.
I learnt from the presenter, David, that the company sources for powerful Forex strategies and bring them in to Singapore. They taught these strategies to their members to learn how to trade in Forex successfully, even if you have no prior Forex knowledge, like me. I have heard quite a bit about Forex from others prior to the preview, that Forex is extremely risky and can burn a big hole in your pocket if you do not know what you're doing.
I must say I'm quite impressed with David. He's not the typical salesman who will promote you something by telling you all the good of it. He mentioned that Forex trading may not be for everybody. E.g. if you're the kind who cannot even stand 1 loss, then trading is probably not your cup of tea, 'coz when you place a trade, you're automatically on the losing end due to the spread of the Bid/Ask price. He also explained that real trading can be different from practise account due to emotion factor stepping in (how true!). He doesn't give you unrealistic expectations that you will get rich quick with forex, just plain simple facts. So I'm quite happy with his presentation.
He went on to explain a little on what we will get with the course, etc. I was especially interested in the automated trading system that he mentioned. That will definitely be my target after I've got enough profits.
After we complete the course, we are expected to perform trading using a practise account (with live data, of course) for at least 3-6 months to familiarise the strategies taught. The stratgies they brought in have a success rate of about 80%-90%, pretty impressive.
I've signed up the course after the preview. Although it pains me to part with my money (especially since it's not a small amount), I reckon it's still worth a try especially if I were to pick up a skill that could earn me a nice little income down the road.
I will be attending my first class next Sat. I'm eagerly looking forward to putting my hands into the trading and seeing the results myself. So stay tune to this blog if you wish to know the results of the strategies taught.
A little more about what you'll get for signing up the course:
- A personal 1-to-1 coach to answer your questions and guide you along, should you need help with the trading.
- Unlimited re-attendance of course within 6 months till you really drill the strategies into your head.
- Sharing the course with up to 3 other of your immediate family members (econmoy of scale).
- Money back guarantee if you do not show any profits in your practise account after 6 months of trading in a consistent manner.
- Signing up for the automated trading system which does all the trades for you, hands free!
If you're interested to go for the preview too, just drop me an email at mtebiz@gmail.com with the subject "Forex Preview" and I will get back to you.
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