"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Friday, February 3, 2012

January Review & Start of February

Busy with Chinese New Year for the past two weeks and a lot of things happened. So managed to find time now to update some stuff.

(extracted from Myfxbook)

Close to a -2% for my January trading month. One main problem with my losses was that I tend to trade 3 different pairs that are co-related at times (for eg. those peg against the USD). So if USD depreciates, they move together (Eur/Usd, Gbp/Usd move up, Usd/Chf move down) and vice versa. Thats when my trades usually get knocked down all at once if it fails.

Started the week with similar mistake and caused a huge drawdown. Managed to scrap bit by bit throughout. I took out my Gbp/Usd 30 pips earlier as not to hold them through NFP tonight. As usual I will be by the side lines and watch. 

This week transactions. No chart as I am too lazy due to high number of trades. (extracted from Myfxbook, my ID is black147)

I earlier (start of Asian session) longed Eur/Chf because I felt it is time for reversal. But then I saw a post in www.forexlive.com here:

I closed my position at +2 pips as not to take the risk. Just wondering, what would you do if you were me?


Poker has been a good month in January. February started off well as I moved up stakes too. But I will still be wary of variance and approach things cautiously.

To all who are trading NFP, good luck tonight! And best of luck everyone at the charts/tables!


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