After years of just browsing, I have decided to start writing a journal. There is no specific reason, just thought would share some of my trade ideas. My background- I began trading part time in 2006 as I also had a separate business to run. For the first two years I was just fooling myself - looking for tips, trading without much analysis, taking positions atleast 5-10 times bigger than what my account size warranted, having no idea about reading the charts. You name it and I was making that mistake. I was fortunate to catch the copper upswing in 2006 which gave me a false sense of confidence. In summer of 2008 because of a customer bankruptcy, I had to take a major loss in my business, my health deteriorated and finally my bad habits and undisciplined approach to trading caught up. In June 2008 I lost 75% of what i had made trading in 2006-2007. I was shell shocked and after few weeks of soul searching I decided that I will close my business and get into trading full time, but doing it the way I built my business. From the beginning I was doing both futures and stocks and then last year I started doing fx. Here are my results from Jul 2008 fwd
Limit Orders 1. Buy 500k AUD/CAD at .9910 with a stop at .9810 2. Buy 2 contracts of Nov Crude at 80.75 and 2 at 80.20, stops at 79.75 and 79.20 3. Buy 2 contracts Dec Euro(cme futures) at 1.3795 and 2 at 1.3765 with stops at 1.3735
Buying 500k of eur/gbp at .8807 with a 100 pip stop this cross is breaking the trendline from all time highs and boe is supposed to follow fed and ecb is making noises about withdrawing stimulus Two charts - daily and weekly of eur/gbp
Taking profits on the yen trade at 81.77, as it doesnt seem to be going anywhere Total Profit(on closed trades - commissions) = $1500 Open Positions - 1. 4 contracts long euro(2 at 1.3795 and 2 at 1.393), stops at 1.3848 2. 500k long aud/cad at .991, bracket order to take profits at .9988 or loss at .985 3. 500k long eur/gbp at .8807, stops at .8707 No other open trades
Taking profits on long euro trade at 1.395, cancelling stop Profit this trade = $4375 Total Profits(all closed trades) = $5875
Buy 4 contracts of dec euro at a stop price of 1.4002 If the long gets executed, then the stop sell is 1.3948
Took profit on aud/cad from this morning, selling at .9988 Profit this trade = $3850 Total Profits(Only all closed trades) = $9725 ----------------------------------------------------------------------------------- Euro long got triggered, long 4 contracts at 1.4002, stop at 1.3948 ---------------------------------------------------------------------------------- New Limit order 1. Buy 500k AUD/CAD at .9910 with a stop at .985