Just a quick post of our trading results this week so far $82.
I have more plans for this week
and im just waiting for the correct
levels to be hit before we enter.
Click on the image to enlarge.
Steve
Tuesday 30 October 2012
Saturday 27 October 2012
Hi All
I have been analysing our account and the trading system i\we use.
On the positive side it is growing. But on the negative side it has grown very slowly.
Because i work 8 hours per day the only way to enter trades is to set up an auto entry
at a logical level 12 or so hours before it happens. So we do not have the advantage
of entering the market on live price action. If the trade goes wrong then we have no
option but to take the loss for that day. Meaning the option to reverse the trade and
recover or profit does not exist.
Its time to change. Our current method is to catch the daily trend which on average at
the moment delivers 50 to 60 points only if our entry point is spot on. So you can imagine
that most of our trades are not exactly spot on as our trading is done automatically and not
LIVE. This means we take 30 to 50 points on average per winning trade and lose 30
points on the losing trades. Our risk profile is not that good in other words.
At the moment the markets in my opinion are not in a buy and hold situation and i
have always treated them this way since starting to trade fx. Now i understand much
more about currency trading it is time to try and latch on to the micro trends. Meaning
stay in a trade for 2 or three days depending on conditions and when correct add trades
to the basket on a daily basis until the trend ends.
I am going to start posting some analysis on the blog as often as i can showing what trades
we intend to enter and what we have entered along with what we can expect from them
including booked profit and loss along the way.
Steve
I have been analysing our account and the trading system i\we use.
On the positive side it is growing. But on the negative side it has grown very slowly.
Because i work 8 hours per day the only way to enter trades is to set up an auto entry
at a logical level 12 or so hours before it happens. So we do not have the advantage
of entering the market on live price action. If the trade goes wrong then we have no
option but to take the loss for that day. Meaning the option to reverse the trade and
recover or profit does not exist.
Its time to change. Our current method is to catch the daily trend which on average at
the moment delivers 50 to 60 points only if our entry point is spot on. So you can imagine
that most of our trades are not exactly spot on as our trading is done automatically and not
LIVE. This means we take 30 to 50 points on average per winning trade and lose 30
points on the losing trades. Our risk profile is not that good in other words.
At the moment the markets in my opinion are not in a buy and hold situation and i
have always treated them this way since starting to trade fx. Now i understand much
more about currency trading it is time to try and latch on to the micro trends. Meaning
stay in a trade for 2 or three days depending on conditions and when correct add trades
to the basket on a daily basis until the trend ends.
I am going to start posting some analysis on the blog as often as i can showing what trades
we intend to enter and what we have entered along with what we can expect from them
including booked profit and loss along the way.
Steve
Thursday 25 October 2012
Hi All
Not so much trading done lately but it is still going in the right direction. Tuesday we made approx $32 and today $42.
I have booked 8 days holiday in November. The 5th to the 8th and then the 12th to the 15th and i intend to do some decent trading while i am on holiday so i will update as regular as possible in these two weeks.
Steve.
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