31 October 2011

And here begins a new week!  Although I came out in the plus, I am absolutely unhappy with how I traded today.  Absolutely ridiculous.  I'm going to try not to be too hard on myself because this is a learning process, but being self critical is one of the biggest tiers to self improvement.

New add-in rule as suggested by Throw:  "Adding of a maximum of 2 times, with a total stop loss of -14 normal sized pips."  This will help prevent an ugly slippery slope that could wipe out weeks of gains someday.

Stats:
Net Pips: +9.6
Trades:  15
Winning Trades: 11
Pips/Trade:  .64
Win %:  73

Oh and my pips/trade was horrible.  I ended up paying most of my winnings in commissions.

Tomorrow is another day!

Happy Halloween everyone!

October 2011 Monthly / Weekly Review

It was a short month / week, but definitely a good one.

The only thing I need now is a substantial amount of screen time, which is why I am waking up early every morning to trade.

Here are the weekly stats:

Although I haven't scaled to it yet, 2 pips a day, 5 days a week would be more money than my current job.  So in three days I'd have made what I would normally make in 3 weeks.  Not a bad start.

Here's a picture of my setup and my trading partner.  He's a bit irrational in his trades, but he's a lovable companion.

28 October 2011

Man, this was a risky morning, but it ended up paying off, this time.

Several positions I entered required me to add more than once.  Although adding CAN be a good maneuver, it's risky as hell.  I'd like to work on getting better entries so I don't have to add.  All in all, it worked out though.

I've started drawing blue lines to attach the highs and lows separately.  I've found that their slope can indicate the trend is slowing and coming to a reversal point.

Special thanks to Throw from http://apipthrowingparty.blogspot.com/  for the coaching.

Stats:
Net Pips: +17.7
Trades:  12
Winning Trades: 10
Pips/Trade:  1.48
Win %:  83.3

27 October 2011

Woke up early this morning (around 4:30 AM) to trade the London session.  This is going to be my new time, and when I get to Germany it'll be my main trading session.

Well, after today's session, I have to admit, I've got quite a talent for finding the exact change in trend, and betting AGAINST it.   I swear, a trend will go on for days, and as soon as I jump in it will change directions.  I need to work on less counter trend betting.

Secondly, I think I can hold my winners a bit longer, and cut my losers quicker.  There's a mental thing with me now about commission, I feel like I need to make the commission back no matter what, and this is not the way I should be thinking.

All in all, could have been a lot worse, but still bad.

Stats:
Net Pips: -9.4
Trades:  15
Winning Trades: 8
Pips/Trade:  -.63 
Win %:  53.3

26 October 2011

Was able to catch an hour of the NYC session, and man did it go well!

The session was very choppy as it usually is from 8:00 - 9:00 AM, but I traded accordingly, taking lots of small trades.

Most of my trades were fading surges.  IE: the price will surge too far, then bounce back like a rubber band.  Also, I try to take my entries at Fib or support/resistance levels.

Stats:
Net Pips: +21.5
Trades:  14
Winning Trades: 12
Pips/Trade:  1.54
Win %:  85.7


Attached below are my trades for the session.  Keep in mind that I also watch the 1 and 5 min charts, as well as the 15 tick, so this is only part of the picture.

Also, I'm playing around with the best way to mark the trades, I know the colors are a little hard to differentiate on the chart.

Arrow is entry, diamond is exit. Green = long, Red = short.

I'm Back

Well, after a few months of not trading, I'm back!
As it turns out, the army ended up screwing me on my contract, so I in fact did not get out in August after all.

I'll be out next July, and until then will be scalping as much as possible.  I tried a few nights on Asia and remembered why I quit it in the first place.  I'm just going to have to get up at 4:30 AM several times a week to trade the London session.  It'll be painful, but nothing gets between me and my goals.

Also, my news trading venture produced less than optimal results, so I'm going back to what I always knew was the best route, scalping.

Also, from this point forward, it's 100% live.  Let's do this.

Expect a LOT more activity on here!