Garfield's Journal - Trading FX,Futures&Stocks

Discussion in 'Journals' started by tradergarfield, Oct 3, 2010.

  1. 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
     
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  2. Going short 500K Japanese Yen at 82.07, stop at 83.07
     
  3. 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
     
  4. 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
     
  5. weekly chart of eur/gbp
     
  6. Adding 2 dec euro at 1.393, stop at 1.3848
     
  7. 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
     
  8. Taking profits on long euro trade at 1.395, cancelling stop
    Profit this trade = $4375

    Total Profits(all closed trades) = $5875
     
  9. 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
     
  10. Took profit on aud/cad from this morning, selling at .9988

    Profit this trade = $3850

    Total Profits(Only all closed trades) = $9725

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    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
     
    #10     Oct 13, 2010