Joe's Journal

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Re: Joe's Journal

Postby Joe T » Fri Jul 10, 2009 6:29 pm

No new opened orders today.

Two orders closed:
0.20 eurgbp short @ 0.8650 / 0.8596 / +54 pips / +$175.02 / -$0.74 swap
0.20 eurcad short @ 1.6300 / 1.6247 / +53 pips / +$90.93 / -$0.43

Current Realized Balance = $7,033.30

As for new orders placed, I will be looking at everything at some point this weekend and determining strategy for the week, so orders will be placed/deleted on Sunday - maybe... got a busy weekend ahead, so we'll see.

A very down & up week. Started at $7,500, hit a string of losses to knock me all the way down to $6300, and finished at a little over $7k. Stuck with the plan even during the losses. Hopefully I can take some time to review them and see if I can learn from them, but at the moment it's more important to me to stay the course and see what happens. I am certain that there are tweaks available, but they also require a closer watch of the screen. I may need an EA to help me with a few steps of the process, though it would NOT be an EA that does any "chart analysis," just allows for the execution of orders while away from the computer. But I'll need to review all that more closely.
Joe T
 
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Re: Joe's Journal

Postby Edward Revy » Sat Jul 11, 2009 6:39 am

I really like your methodical approach, Joe.
Despite trading for few months you're doing good evaluation of your trading performance as far as I can see.

I wouldn't change anything: unlike for majority of traders, learning by trading live fits you well, I can also conclude it by the results of the past week.
Also, that's true, that working with multiple pairs helps to be selective and avoid overtrading, while not signing up with a single or correlated pairs for any particular moment aids money management.

Both thumbs up!
Keep on following the rules, they seem to be working well so far.

Best regards,
Edward
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Re: Joe's Journal

Postby Joe T » Mon Jul 13, 2009 12:36 am

Thanks for the encouragement, Edward. Will keep running things as is until I have enough history to make the decisions needed to start separating the wheat from the chaff.

I try to use the weekend to re-examine everything and set the plan for the week. I was able to do so tonight with no current active trades (no new orders opened yet today, and all were closed on Friday), which took a bit of the urgency away. Here are the updates to trailing stops for each pair:

audcad: 68
audjpy: 99
audnzd: 78
audusd: 86
cadjpy: 87
chfjpy: 77
euraud: 118
eurcad: 87
eurchf: 44
eurgbp: 53
eurjpy: 116
eurusd: 94
gbpchf: 120
gbpjpy: 163
gbpusd: 132
nzdusd: 74
usdcad: 87
usdchf: 79
usdjpy: 66
usdmxn: 1,123
xagusd: 33
xauusd: 914

As always, amount risked on trailing stop level, along with money management of limiting risk to a max of 3% of starting realized capital, using current prices to determine amount risked to deposit currency determine the lot size.

After reviewing all charts and current orders, the following modifications were made:

audcad buy limit price chaged to 0.9000
audjpy sell limit price to 78.00, take profit to 71.50
audusd sell limit take profit to 0.7750
cadjpy sell limit to 90.50, tp to 79.00
chfjpy sell limit tp to 84.50
euraud buy limit tp to 1.7950
euraud sell limit tp to 1.7250
eurjpy sell limit to 136.00, tp to 127.50
gbpjpy sell limit to 159.00, tp to 147.50
gbpjpy buy limit to 147.50, tp to 158.00
gbpusd sell limit tp to 1.6050
gbpusd buy limit to 1.5700, tp to 1.6600
usdcad sell limit to 1.1700
usdjpy sell limit tp to 92.00
usdmxn buy limit to 13.1000, tp to 13.7000

Newly placed orders:
eurjpy 0.1 buy limit 127.50, tp=135.50, ts = 116
nzdusd 0.2 buy stop 0.6272 tp = 0.6500; ts = 74
usdchf 0.2 sell limit 1.0900 tp = 1.0650 ts = 79
xagusd 0.6 buy limit 12.50 tp 16.00 ts = 33
xagusd 0.6 buy stop 13.16 tp 16.00 ts=33
xauusd 0.2 buy limit 910.00 tp = 985.00 ts = 914
Joe T
 
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Re: Joe's Journal

Postby Joe T » Mon Jul 13, 2009 8:44 am

Orders opened overnight:
BUY 0.30 audcad 0.9000 / tp=0.9350 / ts = 68
BUY 0.20 audjpy 71.00 / tp = 78.00 / ts = 99
BUY 0.10 gbpjpy 147.50 / tp = 158.00 / ts = 163
BUY 0.20 xauusd 910.00 / tp = 985.00 / ts = 914

Placed order:
BUY STOP 0.10 gbpjpy @ 149.51 / tp = 158.00 / ts = 163

No closed orders.
Joe T
 
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Re: Joe's Journal

Postby Joe T » Mon Jul 13, 2009 10:31 pm

No orders closed today. Still running.

opened orders:
buy 0.1 gbpjpy @ 149.51; tp = 158.00; ts = 163
buy 0.1 gbpjpy @ 150.95; tp = 158.00; ts = 163
buy 0.2 nzdusd @ 0.6272; tp = 0.6500; ts = 74
buy 0.6 xagusd @ 12.50; tp = 16.00; ts = 33

newly placed orders:
BUY STOP 0.1 audnzd @ 1.2428; tp = 1.2750; ts = 78

Current Realized Balance = $7,033.30
Joe T
 
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Re: Joe's Journal

Postby Joe T » Tue Jul 14, 2009 8:16 am

No orders closed over night - still running (will be banking nice profits at some point!)

Realized balance still $7,033.30. (current value on open running positions is more than +$2,300).

One order opened:
BUY 0.1 audnzd @1.2428; tp = 1.2750; ts = 78
Joe T
 
Posts: 186
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Re: Joe's Journal

Postby Joe T » Tue Jul 14, 2009 7:28 pm

Orders opened today:
Buy 0.2 cadjpy @ 81.73; tp = 87.50; ts = 87
sell 0.2 eurcad @ 1.5938; tp = 1.5400; ts = 87
sell 0.2 usdchf @ 1.0900; tp = 1.0650; ts = 79

Orders CLOSED today:
0.3 audcad long @ 0.9000 / stopped @ 0.8990 / -10 pips / -$26.36 / +$1.38 swap
0.1 gbpjpy long @ 147.50 / 150.79 / +349 pips / +$354.72 / +$0.05
0.1 gbpjpy long @ 149.51 / 150.79 / +128 pips / +$138.00 / +$0.05
0.1 gbpjpy long @ 150.95 / 150.79 / -16 pips / -$17.25 / +$0.05

Current realized balance = $7,483.94

Orders PLACED:
Buy Limit 0.3 audcad 0.8900 / tp = 0.9350 / ts = 68
Buy Limit 0.1 gbpjpy 147.50 / tp = 157.50 / ts = 163
Joe T
 
Posts: 186
Joined: Thu Jul 02, 2009 10:26 am

Re: Joe's Journal

Postby Joe T » Wed Jul 15, 2009 8:44 am

Orders opened overnight:
buy 0.60 xagusd @ 13.16 / tp = 16.00 / ts = 33
buy 0.20 audjpy @ 75.14 / tp = 78.00 / ts = 99
buy 0.20 chfjpy @ 86.90 / tp = 90.00 / ts = 77

Orders CLOSED overnight:
0.20 eurcad short @ 1.5938 / stopped @ 1.5903 / +35 pips / +$61.77 / -$0.43 swap

Current realized balance = $7,500.86

No new placed orders.
Joe T
 
Posts: 186
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Re: Joe's Journal

Postby Joe T » Wed Jul 15, 2009 9:14 am

One note for the record: I have missed a really nice move on the usdcad pair. This was one of those unfortunate circumstances where a valid trade setup occurred while I was at work where a sell stop order should have been placed. But because of work and other obligations that kept me from the computer, by the time I was able to get on the computer the set up had passed and I was no longer able to place an order within the rules.

Had I had access and placed the orders, I would have more than recouped ALL previous losses on this pair (if you've followed my trades you would have noticed a string of losses on usdcad). The unfortunate thing about this from an analysis standpoint is that current results make the usdcad look unprofitable with this approach, when in fact it would now be profitable.

This is where an EA would assist in comparing pre-set trigger points to current price activity and making sure orders were executed when the right set-up occurs.

Nonetheless, a good week so far...
Joe T
 
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Re: Joe's Journal

Postby Joe T » Wed Jul 15, 2009 7:15 pm

Opened Orders Today:
Buy 0.4 audnzd @1.2350 / 1.2750 tp / ts = 78
Buy 0.1 eurjpy @ 132.36 / 136.00 tp / ts = 116
Sell 0.2 nzdusd @ 0.6500 / 0.6300 tp / ts = 74

orders CLOSED today:
0.20 nzdusd long @ 0.6272 / took profit @ 0.6500 / +228 pips / +$456.00 / +0.77 swap

CURRENT REALIZED BALNCE:
$7,957.63

Orders PLACED:
BUY STOP 0.30 audcad @ 0.8990 / tp = 0.9350 / ts = 68
Joe T
 
Posts: 186
Joined: Thu Jul 02, 2009 10:26 am

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