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)
Tuesday, July 31, 2007
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!
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