30 December 2011

So here it is, the last trading day of the year!

Although this day wasn't stellar, I still came out learning things.

I felt really distracted today and not focused.  I ended up missing a lot of really great setups.

All well, I've come a long way in the past few months, and I'm ready for the new year!

Stats:
Net Pips: -5 pips
Trades:  5
Winning Trades: 2
Pips/Trade:  -1
Win %:  40%  

If my losing days continue to only be this bad, I'll be a happy (and rich) camper!

And now for the monthly stats:

I know this month was special because of vacation, but my new year's resolution is to trade more, and calm the hell down.

Happy new year's to everyone, and good luck next year!

29 December 2011

Back from vacation back home in Texas, and man was it amazing.


It feels good to be back on the trading horse.  I can't feel good unless I'm learning and growing in this endeavor.




Good day to day.  Only 3 trades, but at 100% win rate.  I have been feeling more like I can call where good entries are.  Most of my trades I'll be like "I think a good entry will be around 1.xxxx" Then a few minutes later if it pulls into that area and I see a good setup, I take it.


The last trade kinda chaps my ass.  I have been forcing myself to hold trades longer and go for bigger moves, but I got in a bit early, almost got stopped out, then it moved 2 pips into my favor, and it was at a fib line, so I called it and took the two, only to have it drop another 14 pips.




I don't know, maybe it was the right call, maybe it wasn't, it worked this time though.  I'll continue to go for bigger moves.




Stats:
Net Pips: +11.1 pips
Trades:  3
Winning Trades: 3
Pips/Trade:  3.7
Win %:  100% 

19 December 2011

All in all, not a bad day.


I had a few stupid mistakes at the beginning, but then I started trading just fine.  I should've waited for a better position on the second trade, I would've held that for a big winner.  The third trade I should've cut much earlier.


Anyways, I'm heading back home to visit family for a week, I'll be back trading around the 28th.


Happy holidays!




Stats:
Net Pips: +5.7 pips
Trades:  10
Winning Trades: 8
Pips/Trade:  .57
Win %:  80%

16 December 2011

Been sick as hell lately, so been trading only off and on.

Got a good session in this morning.

The biggest thing I've changed is that I am going back to where I started in that I put the 5 minute chart as the main chart, and look for setups off that, and only use the rainbow for precision entries and exits.

I put far too much emphasis on the rainbow recently, and I paid for it.

The session was still super choppy, so my R:R was less than optimal for sure, but it still turned out great!

Stats:
Net Pips: +12.8 pips
Trades:  7
Winning Trades: 7
Pips/Trade:  1.83
Win %:  100%

Special thanks to Throw from apipthrowingparty.blogspot.com and Ryan from sim-fx.blogspot.com for the coaching and encouragement.

12 December 2011

Not a great day.
This is exactly what I'm talking about.  My winners are so damn small that one bad loser wipes it all out.

I really need to figure out a way to fix my R:R...

Stats:
Net Pips: -3.45
Trades:  4
Winning Trades: 3
Pips/Trade: -.86
Win %:  75

December Week 1 Review

Great start to the month.  If I could continue to trade like this or better, then I certainly will be successful in this venture.

I've been focusing on being more conservative and waiting for high quality trades, and also started closing half of my position early and letting the other half ride.  This has helped my win rate stay high.

Let's see if I can keep it up!

09 December 2011

The no-losers streak is finally over, and I have to say I'm relieved.  That was a bit too much pressure.

All in all, still pulled out a win though.

What really bothers me is that I took nothing but shorts today on a complete uptrend...  It worked out this time but that's a horrible habit.  I think I'm just so used to having a down trend the past several weeks that I'm used to only shorts.

Also, my pips/trade really sucked badly.

Stats:
Net Pips: +9.6 pips
Trades:  7
Winning Trades: 6
Pips/Trade:  1.37
Win %:  85.7%

08 December 2011

Another perfect day, the third in a row.  I think this will be leading me into a false sense of security, or get me thinking that I've somehow become a badass overnight.

Although I'm happy that I've been doing better and being more cautious, I am weary of letting it get to my head, because I will have losers.

I sat and watched the market for about an hour before I actually started pulling the trigger.  I feel like I may be a little too cautious right now, but hey, there's a right balance for everything.

The good news is, every time I was planning on making a trade, but decided not to pull the trigger, it would've gone in my favor.  So I'm at a minimum getting better at predicting the price movement.

Stats:
Net Pips: +6.9 pips
Trades:  3
Winning Trades: 3
Pips/Trade:  2.3
Win %:  100%

06 December 2011

Another 100% day.

I've been working on only taking very high probability trades. Although I don't end up with as much pips at the end, I feel like it's substantially safer.  After all though, this is scalping, and I only need to average 5 pips a day to live on very comfortably.

Stats:
Net Pips: +7.2 pips
Trades:  3
Winning Trades: 3
Pips/Trade:  2.4
Win %:  100%

05 December 2011

Back from the weekend and another trading session.

Although the results were not bad, this time, one or two failures could've completely wiped me out.

The market is so damn choppy during these hours, I have to take profit as soon as I have it at like ~2 pips.  Which is not good while I continue to risk ~5pips per trade.

Stats:
Net Pips: +11.3 pips
Trades:  4
Winning Trades: 4
Pips/Trade:  2.8
Win %:  100%

02 December 2011

Haven't been trading for the past week because I've been sick and haven't had the cojones to wake up at 4:30 am.
I have been watching the market though and have been seeing how crazy it's been acting since the central banks changed their interest rates.
This morning was super choppy, I was happy to get anything off of it.

The blue vertical lines are counter trend surges on the 30 second chart, which get posted to all 3 charts.  That's where I start looking for an entry to continue to ride the trend.

Stats:
Net Pips: +3 pips
Trades:  3
Winning Trades: 2
Pips/Trade:  1
Win %:  66%