6 Jan - Phew Day Usd/Jpy

The two green dotted lines were basically my long entries and the top red dotted line was one of the take-profit and bottom one was both stop-loss. Once again i entered my first trade at a very bad price 92.41, it was juz moment before ADP Non-Farm Employment Change announcement and i longed the Usd/Jpy. Data was bearish than forecast. price went against USD as well as me. i did two average in more shots, before closing my first trade at -30pips.



i went in long 30 minutes later when 92.10 (50% fibo zone) served the support well. i also trusted the ISM Non-Manufacturing PMI announcement an hour later. not long, the US bulls gained momentum, i closed my 2nd and 3rd position (at +10 & +5 respectively) and trail with my last trade so that the stop-loss is at profit for a breakeven. Phew.

I let the last position on for the announcement but was once again backstabbed by the bearish data. i quickly closed the position at +26 pips before it went against the dollar. im not sure how is it going now, as i usually close the chart once im done for the day when its done, its done. trying not to overtrade, and go overtime. soccer players go exhausted playing into overtime. and when u reach the penalty shots, it is gambling. So i ended with +16 which could have been a night where my week's profit were ripped.

I was guilty to say that my 2nd and 3rd position i had actually pulled down my stop-loss, which saved the day. it felt like a gamble, it totally was, although i knew i would juz shift it down once. greens today is juz luck for me.

Black

5 Jan, Short & Quick - Aud/Usd & Eur/Usd

Long the Aud/Usd but price dips which shows the lack of discipline to wait for more momentum. The good thing about this trade was that i quickly cut the loss by closing at -11 pips, and did a short when price dips below the lime green 20SMA. Price continue to go down and escaped with +13 pips.



Concurrently, sold Eur/Usd below 23.6 fibo level prior to closing of 1H candle. Screenshot 15M juz for zooming in. Price dips after 1H candle closes below fibo, average in another trade. +18 pips on two trades.



US Home Sales data was terrible. The prices that dipped on the previous hours are now recovering quickly upon the announcement. My trades today are pretty simple and hasty. Just in, collect the profit and out, thankfully it went well.

Black

4 Jan - First Trade of the Year Aud/Usd

Very short trades today. i never really see a longer-term opportunity at that moment when i sat down after going thru some news and announcement that will be out that day, at least not to me. when i sat down was 9:30pm singapore time, which is about 8:30am into New York session. seems like most major im watching are forming a wide stretch of daily candlestick.

Based on momentum, i actually did a long on aud/usd, targeting small. it is forming a smooth uptrend. juz dat my target is pretty much close 0.9100 - double zeros, for the day. not much action when i enter, and slowly drag to US ISM Manufacturing announcement. Good forecasted, but based on my trading journal i kept, this announcement on December causes price to dip a little but does not bring much impact.

As i can't oppose my on-going trading pair, i shorted eur/usd prior to the announcement and bring in short scalps off the news. of course, aud/usd follows the dip, i average in my first trade. started scaling out the two trades and closed for the day. price is still spiking up in aud/usd. let's keep watching. sweet trades for first decade. (+21 pips)



Black

Transaction History December 2009 + First trade of 2010!

Hello everyone, the above show my November and December transaction history. The problem here is i couldnt get my December only history. I only see the last 3 months option. Lol so this is all i have. Before the green line is November's while after is December's.

Notice that the gradient of my December's trade is kinda straight yea... Most prob due to low confidence after the account shattering November. I went in and came out with little or no profit for alot of trades. Fearing that i might get bite again u know? That kinda feeling i guess all new guys have? Yup but fortunately the overall for the month is green. And thats gooooooood news.

Ok now for the first trade of the year 2010! Some information on the above scenario. Its USD/JPY pair in 4H timeframe. Its a short trade with the first circle as entry and second as my profit target.

Weapons used : Bollinger Band , Stochastic and candlestick patterns. ( + some Ema as well)

It all begins with the first green circle showing a Doji star lookalike candlestick. Its at the top of the Bollinger Band, looks like there is some indecisiveness here i suppose? The next bearish candlestick results in the Crossover of Stochastic in overbought zone. That looks very delicious...

Price was at around 92.93 when i am starting to make a decision. Should i go in now or should do it the more disciplined way? The more disciplined way will be at the near of Bollinger Band top where price will try to break up. Its at 93.16. Thats about 20pips away and the current market im watching that time is like u know... " Tug O War". No one is giving in, what if i go in late and miss the boat?? In the end, i manage to supress my inner devil (who has been asking to go in now lets not wait anymore!!) and set Sell Limit @ price 93.16. SL 40pips away and TP at 20EMA as support. Though i believe there is a chance that it might go all the way to Bollinger Band 30EMA. I chose 20EMA to play safe and not be greedy. Afterall its about 61pips if hit.

And there i thought it will be hard to hit my Sell Limit which is 20+ pips away, the next moment just after my lunch, im in a trade already. It went against me for a few pips and thereafter it proceeds towards my desire direction. The feeling is....... great

WHAT IF! I choose to go in earlier... i'll be having 20+ pips floating loss. It will affect me emotionally. I will tend to close at break even even though i analyse it correctly. I will have to go through the agony of floating loss unnecessary, no doubt it will affect my trading journey in the long run. Fortunately i chose the right path and end up having that extra 20pips that might just happen to be my floating loss if i went in earlier.

Still, there will be chances that i will miss the boat by doing the above... But i choose to take the trading system is set for myself seriously and follow it strictly. The system that i think can maximize my profit(more pips) and minimize my risk (further SL). I have much to learn.

First trade of the year = Profit = Good Sign!!! LOL!! Lets hope we can keep it this way.

Bottle

Dec 09 & 2010 Resolution

Happy new year to all readers. As u can see me and Bottle did not post much of our trades past two weeks. As for me, taking the two weeks break since christmas till now. will be coming back for the start of the year. anyway, im still red for my December 2009. My only improvement this time was the pips lost wasnt that much. Here is my graph for Dec 2009.



26 executed trades - 15 winning trades, 11 losing trades.
-8 pips. wads the problem here? my loser lot size are bigger, and more pips, money management.
best trade: 90pips usd/jpy on 15 Dec.
worst trade: big lot size loss -27 pips eur/usd on 12 Dec.

since my LIVE trading since August 2009, except for the first month, the rest are RED (losing) month.

Aug 09: +30 pips
Sep 09: -156 pips
Oct 09: -107 pips
Nov 09: -44 pips
Dec 09: -8 pips

in TOTAL: 100 profit trades, 69 loss trade for 2009.

The reason my august was green was becuz that last trade of that month, the revenge trading was a success. which is also a great reason why the months that follows after that are red. i had a trade that went below my initial capital, i took double lot size for revenge and took back my wins.

September was the worst month. 4 revenge trades that took a drawdown of -70% in total. balls bursting. October had a revenge trade that took -20% of equity that point of time. Although still red, there was not a single revenge trade on November and December anymore. heart-wrenching to dwell on those losses but trying my best not to do it again.

As I've told FX in his posts, my equity is kinda living on a thread. i may not be winning yet, but i do enjoy seeing lesser lost and learning from past mistakes. experiences is the best lesson, and is also the hardest. i luv to see myself doing more analysis before any trades, and there as each day past, i m finding out what kind of a trader i am. it is like a sculptor, as each day past his material and artpiece began unfolding as i see myself, although not yet a complete form at the point of writing.

I read a book by Malcolm Gladwell - Blink. As he has pointed out that, a person might not noe about wad he actually noe, it lives in our subsconscious. my explanation suck here, but let me give u an example. consciously, i think that due to full time work and other commitments at hand, i thought i might be better off a day trader and becuz i cant bring trades to slp. but subsconsciouly, i maybe a better swing trader, probably becuz thats wad ive been doing 90% of my demo trading and for that, it is also a cause that my analysis and trading plan are longer-term than intra-day.

basically, what he meant is that a lot of ppl who noes and does a particular thing, he does not noe the actual explanation to another party (previous paragraph might be a good example). he trade successfully and he does 80% of winning trades, he juz noe it in him but he doesnt noe how to bring out in words, how to express wad makes him so successful, or worst, he thinks that it is something else that made him so successful.

Anyway, coming back, realistically, i might not be able to bank in some profits (if there is) in upcoming months. but i hope to see myself having TIGHTER DISCIPLINE, showing u guys profits at month end in terms of pips and monetary, and a much sharpened trader.

I wish all of u success in 2010! new decade, new year, new start! Happy trading!

Black
Peace.. No revenge..