Euro firming up, forming cup on 15
My Forex Journal
- Thread starter wizard4444
- Start date
I hate to start the journal with a losing week but this is life....we go on from here. Spinning my wheels this week, the account is down almost 2 units(2 trades, meaning if I have 2 winning trades I will be above the high watermark of last week). It was the choppiest week for me and I will take that anytime as a bad week. I stick to the plan. On the weekend I will post pics and the update.
Thank you all for following.
Thank you all for following.
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I like your spirit!
You weren't that bad after all, it's been only one week anyway and there is always too much pressure in carrying on doing real time journals.
I am pretty sure you will show outstanding performance next week
Besides, I was really impressed by your ability in picking good currency pairs.
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You were absolute right!
After NZDCAD touched 0.91450, within next 1 hour, about "70" pip fell.
I'm also looking at this trade as a possible heads up on the price of oil, since the two were so correlated. Cad up, oil up?
15 trades ...but your last NZDCAD, if you had a bit more wider stop loss (maybe by 3pips), you could have minimised your loss. I think you just had one unlucky week.
Your allocation of size, you must be using some kind of algorithm cos the numbers are not biased to round numbers.
By the way, does other institutional traders trade similar to your style? I mean swing trade? I heard mutual fund managers' holding period is long like your style although market makers like hedge fund mangers employ short-term trading.
My current PhD research topic is on Crude oil (as well as other futures contract categories) and I have seen a lot of traders making profits from futures market consistently while their currency trading winning rate is inconsistent. I am definitely interested in trading in futures market in the near future.
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I was allowed to trade what and how I wanted as long as money was coming in,except in prop where you had to close by days end. They never asked me anything or bothered me. All decisions where mine, very smart people.
The indicator to size my positions I have posted in the early pages of the thread.
I stared with futures the first 2 years... but did not do that great(was a beginner too). After went on to day trading equities and swing trading where I came 13th in 65000 traders in the Yahoo investment challenge, some old traders will remember this. And from there I start trading in Prop Shops.... and after that in banks....
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About NZDCAD .... yes I know... and it looks good even know... I might get another signal... we will see lets see how the market settles....
About the unlucky week...well can't have every week positive.... I measure my results by month or quarter... if you look at it weekly it can become too emotional for some....
My results are positive 99% of the months.... but I do not pay attention at that, I just trade my trade and the results are what they are...
This is off topic but I have to post it before we start trading I love animals with all my heart and even if someone gave me to choose between my love (trading) or saving animals I would still choose the later.
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