My Forex Journal

sorry not posted anything in a few days, I am away on vacation.
Still trading, but bad connection makes uploading files impossible.

Ill try again this weekend when we move to part two of our vacation ( hopefully better internet)
 
no luck at the new place, the internet connection in Jamaica is pretty bad. ( not intended to start a war here, just letting you know my personal experience)
anyways I am home Monday, so will post an account update then.

Besides not much to post now, I have been treading water this last few weeks ( been quiet)
 
I have been away for two weeks, enjoying some hard earned sunshine. I also had more than a few books with me to read, which lead me to make a few major changes to my trading.

I was reading about trend traders, who make 50% a year without having to predict much of the future. No fundamental analysis, no tea leaves reading, just reacting to price action.

I keep wondering why wouldn't everyone trade like that, after all who is not happy for a 50% yearly return?

It took me until the end of the book to understand why their strategy, which is non-discretionary is not that popular. The main reason is in the word, non discretionary, which basically means we follow the rules that were created, no gut feelings, no doubling down take losses without any emotions.



I have restarted my account, and added a few trades to it last week. ( as you could see by my twitter feed @TheSmokedAces)



anyways here is an up dated look of my trades so far. I am using OANDA as a broker, so there is interest paid on my account.
2015-02-16_2045.png
 
This morning, I added a position in GBPSGD, bought at 2.09903 0.03 pips for a risk of 0.54%

I know some will ask what is the risk in % for? Part of my new experiment is to try and limit how much risk I have on the books all at once. Not to say that all the trends will go against me at once, but its good to know the exposure at a glance.
 
Just added a short on SOYBNUSD (soyabean CFD futures).
Since I am still not sure was the pip value on these, or margin, I am going lightly, using the minimum size of 0.01.
Initial target is around the 9.30 level
 
I have been pretty quiet lately not posting much. mostly that is due to the break in routine, its hard to come back from vacation and jump back into the daily routine. anyways two weeks has passed since the end of vacation, and its time to get back to work.


While on vacation, I have started testing a new strategy, which I would like to deploy starting March 1st 2015.
its a 25,000 account and I will be using a risk of 0.5% per trade based on the balance on the 1st of each month.

each trade will have a SL but no TP, as I will let the market determine that based on the MA.


This is actually a simple strategy, which can be back tested and has no repainting.

I am currently doing an actual tick by tick test to see results, I will have more info on that later on.

Anyways 1st trade Long NZDJPY at 90.313, the stop loss is based on the MA, which is adjusted everyday. Today the MA stands at 89.08, which means a I can risk 0.09 lots on this trade to stay under the $125 stop loss.
2015-03-01_2212.png


Forgot to add, since I am trading with Oanda, I get daily interest on my account, its not much but its something. Also since I am long the NZD, this should add extra carry interest while in trade.

again this is not the main reason behind this trade, but its an added bonus.



I have another trade, however since its on the UK10yr bond, I must wait until UK open to place that trade.



Happy Trading and follow me on twitter @TheSmokedAces
 
it hides it from broker, so i would not be a stop run target. while most will say that hey get a good broker, even the most reputable brokers run stops sometimes.. why risk it
 
Stops will have a high likelihood of not being run if stops are placed outside the noise. Lower the use of margin and set stops outside the noise. There is no reason to hide stops.
 
I dont hide them, they are on my charts, so I can see them. them not appearing as a pending order is a choice of mine, and in my opinion does not harm my trading.
 
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