First, this is going to be a paper trading journal. I already have another journal in which I maintain my real account performance(FX+ES trading). Why A New Journal: This journal will help me develop my skills as a swing trader and help me improve my portfolio management skills. The real account has a very small balance (4 figures only). Also, I hold my trade from few seconds (scalps) to few hours and rarely for > 1 day. Hold time for trades in this journal would be intraday to years. There will be increased emphasis on managing portfolio risk, instead of managing single instrument risk (like in my real account). Trading Approach: Fundamentals, Technicals, News & Special Situations Instruments: Global Macro Instruments viz. FX, Bonds, Equity Indices, Commodities Futures and sometimes Options. Single name equities very rarely in case of special situations like overvalued IPOs, Bankruptcies, Lawsuits etc. Starting Paper Balance: 100,000 USD Trades: I will post all my trades here, with some commentary, more or less in real time. Performance Appraisal: There will be detailed weekly, monthly and quarterly performance analysis. My Expectations From This Journal: Hopefully, I will build few tools to understand and manage portfolio risk in a better way. I will be able to see if I am net profitable or not, trading in this manner.
First Trades for this journal: Long 200k AUD @ 1.0038 Long 2 ES @ 1216 Long 200k EURCHF @ 1.2171 Short 100k EUR @ 1.3110, Order to Add 200k @ 1.3148 and 300k @ 1.3198 Total Margin Used: (Using overnights and currently not offsetting margin like being short 100k Euro and long 200k Eurchf): 25k Rationale: I was bearish given yesterday price action, but today's explosive action to the upside has increased the probability of a dramatic upside breakout in risk-assets over the next 1-3 days. Won't be surprised if ES goes to 1230 today.
Here is Euro and Aud charts for today's explosive premarket action. Btw, new home starts/new permits data was out today morning, beat expectations handsomly. This also fueled the rally. It seems that yesterday price action was all that was needed for bears and now we go only up from here till end of year, albeit some European news.
How did I miss it. Long Gold GC 2 contracts at 1616, stop 1570 - 1 contract. 2nd contract no stop. --- Long term bull Margin used 47k..... Probably I am running a lot of correlated risk, but I think its ok at this moment. Let us see Gold has suffered brutal correction, but has stopped going down for last 3 days.
AUD unhealthy breakout, could well drop below entry EUR good strategy, breakout will not go far, too much money on a speculation EURCHF - no sign for a long, still going down, down... Watching your trades
Welcome Aboard! Its just a humble attempt to learn to keep trades longer than purely intra-day, and that without losing money Just want to be long EURCHF because of SNB behind me. My worst case is 1.20, Actually will like price to go towards 1.21, more it goes down, more will I buy.
Yes, this is the way I would like to trade - not close positions intra-day on small profits, but to keep positions longer term 1day, 3 day , 10 day, 2 months ..... At the end of day, portfolio is looking good. Infact, all the 5 positions taken are independently showing profits. Keeping everything open as of now. Trade Entry price Current Price Aud 1.0038 1.0078 ES 1216 1235 EURCHF 1.2171 1.2189 GC 1616 1617 Short Euro 1.3110 1.3080
Alright, time to do a MTM after day 2. Made no changes to the portfolio today, primarily because I have only one monitor and its too distracting to open up the papertrader. So I am not happy with myself, and I seriously think this experiment will have utility only when I am changing positions on a papertrader which is always open on one monitor and I am watching the changing pnl with time, as I would watch in real time had I been trading this thing with real money. Anyways till the time I get another monitor, we will remain a bit slow to modify portfolio. So I was initially short Euro 100k at 1.3110, I had orders to add short at 200k @ 1.3148 and 300k @ 1.3198, which executed. So, following are my current position with entry prices: Long 200k AUD @ 1.0038 Long 2 ES @ 1216 Long 200k EURCHF @ 1.2171 Short 600k EUR average price of 1.31667 Long 2 GC @ 1616 Following are current prices: Aud 1.0095 ES 1235 EURCHF 1.2209 EUR 1.3048 GC 1617 So, every position in profit still. Short euro has become my biggest position now. and I am not unhappy. I have a buy order of 200k Euro at 1.2960.
5 trades today - taking them now following are current prices. 1. Buy 200k EUR @ 1.3057 2. SEll 200k AUD @ 1.0135 3. Sold 1 ES @ 1243 4. Sell 100k EURCHF @ 1.2226 order to sell 100k AUD @ 1.0145 and 1 ES @ 1246 Profit booking on above, and gold hasnt been performing as well, so reducing exposure on gold 5. Sell 1 GC @ 1613 Edit: Sold 100k AUD @ 1.0132 and 1 ES @ 1242.25. Sell orders cancelled.