Uncle's Trading Journal

Discussion in 'Journals' started by Uncle, Apr 1, 2011.

  1. Uncle


    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:


    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
  2. Uncle


    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.
  3. Uncle


    Stopped out and reversed at 1.4230 -- targeting 1.4245 or 3pm whichever is first. Stop at 1.4225
  4. Uncle


    out at 1.42442
  5. Uncle


    long 500k at 1.42405

    stop at 1.4235 - target 1.4247
  6. Uncle


    stopped out 1.4235 -- that's it for today.. Account value 15,495
  7. Uncle


    Just got back from a trip - kind of tired but catching a drop in the equity markets and the EUR seems to be following..

    Short 500k EUR at 1.4181 - tight stop at 1.4191 and targeting 1.4150.. one trade and i will be off to sleep..
  8. Uncle


    out at breakeven -- worse than expected retail sales in Europe yet EUR does not sell off -- feel like it should sell off so will probably re-enter short if we hit upper 80s..

    Getting tired -- know that I probably have the right trade direction here -- but going to bed nonetheless
  9. Uncle


    Took a short dollar/yen (long yen) 500k USD (running at 65% margin) at 85.12. very short term play -- tagged 85 in after-hours.. betting hedge funds and japanese exporters will take advantage of this and 85 is very polarizing.. will add to 95% margin if hit hits 85.20. Stop on all at 85.25 -- target below 85
  10. Uncle


    out at 85.026 -- account value 16,090
    #10     Apr 5, 2011