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Old Apr 1st, 2011, 01:25 PM   #1
Uncle
 
 
Join Date: Feb 2009
Location: New York
Posts: 356
I am starting this journal for me. Anyone is of course welcome to comment but the main purpose is for me to track my trading, hold myself accountable to my stops, and allow me to think out loud about the state of the world.

I am defining my goals as follows:

1. I WILL HONOR MY STOPS

2. Will close my positions at the end of every day (defined as the point in time at which I am no longer able to monitor the markets closely)

3. I will strive to shorten my duration in any on trade to under 30 mins

4.Trading only EUR - occasionally dabble in other currencies

5. I will not add to a losing trade. I will accomplish that goal by initiating a trade using 95% of the margin available to me. This will also allow my position size to grow/decrease with my account size.

6. I will stop myself out of trading for the day if I lose more than 10% of my account value


Currently trading with CitiFXPro. Account Value: $15,719
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Old Apr 1st, 2011, 01:32 PM   #2
Uncle
 
 
Join Date: Feb 2009
Location: New York
Posts: 356
My first trade is on -- short 500,000 EUR at 1.4223. Will stop myself out 1.4230.

Thoughts: Feels like EUR getting squeezed --- many players got long the USD after solid employment numbers. Nothing of real consequence after that other than contradicting Fed statements on whether QE2 will be ending sooner than later. 1.4025 is around the high of last 2 weeks and has managed to hold.

Not setting a profit target - watching the market -- at the very latest, I will be closing at 3pm ET as I need to leave to pick up parents from airport.
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Old Apr 1st, 2011, 02:28 PM   #3
Uncle
 
 
Join Date: Feb 2009
Location: New York
Posts: 356
Stopped out and reversed at 1.4230 -- targeting 1.4245 or 3pm whichever is first. Stop at 1.4225
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Old Apr 1st, 2011, 02:30 PM   #4
Uncle
 
 
Join Date: Feb 2009
Location: New York
Posts: 356
out at 1.42442
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Old Apr 1st, 2011, 02:35 PM   #5
Uncle
 
 
Join Date: Feb 2009
Location: New York
Posts: 356
long 500k at 1.42405

stop at 1.4235 - target 1.4247
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Old Apr 1st, 2011, 02:47 PM   #6
Uncle
 
 
Join Date: Feb 2009
Location: New York
Posts: 356
stopped out 1.4235 -- that's it for today.. Account value 15,495
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