17th May '11

Well, Just like Klaus, in his blog here : http://devisen.wordpress.com, today I was stopped out ... but for me it was the EUR/GBP pair... as I started looking at the charts this evening the trade was only 8 pips shy of the Stop Loss ... as expected ... it wasn't long before the Stop was hit, for a cost of 93 pips.

Since I have taken the loss tonight, my 1% risk has been calculated using the modified fund value.

The other trades running at the moment are a Long trade on AUD/CAD and a Short trade on GBP/CHF. As far as trade maintenance is concerned, I couldn't move the Stop on the AUD/CAD since it came within a whisker of being exited today, however with the move later this afternoon, the reasonable Take Profit Point has moved, and so I have adjusted the Trade accordingly. Similarly on the GBP/CHF, it is too early to move the Stop, but I have moved the Take Profit value.

While the GBP/AUD trade did not trigger today, I have left the trade to run overnight, as the price action is moving in the right direction, so the same figures will stand for today.

In addition to the above, I have placed 3 new Short Orders in the market: GBP/USD (the price has retraced further,and so a new Order has replaced yesterday's), EUR/USD and EUR/CHF.

So my Trade table looks as follows:

Current position from tonight

Curr. Pair	Direction	Entry	Stop	Target	P&L	Comment
GBPCHF	Short	1.4363	1.4554	1.4113	+60 pips	Day 5, TP Extended
AUDCAD	Long	1.0305	1.0223	1.0405	+19 pips	Day 4, TP Extended
GBPAUD	Short	0.8681	0.8774	0.8588	-	Leaving to run
EURGBP	Short	1.5268	1.5378	1.5105	-93 Pips	Stopped Out
GBPUSD	Short	1.6168	1.6306	1.6030	-	-
EURUSD	Short	1.4114	1.4242	1.3986	-	-
EURCHF	Short	1.2498	1.2598	1.2398	-	-

Sorry, no pictures today ... I have to get some sleep :O)

... but I'll wish you ... Happy Trading ... and I'll be back tomorrow.

Nick :O)

16th May '11 ...

yeah!!! ... tonight, for the first time in a while, I have been able to update a stop loss on an active trade!

The GBP/CHF trade which triggered last week, today moved into profit, and I was able to move the stop loss from 1.4554 to 1.4472 ... an reduction of 82pips risk :-) ... it's the little things.

now ...time to put the emotion back in it's box ... or rather earlier was time to put the emotion back in the box, I'm just reporting it now ;-)

Tonight I have placed 4 Income Generator pending orders, all short: GBP/USD, EUR/AUD, EUR/GBP and GBP/AUD.

In addition, the AUD/CAD order from yesterday triggered, and at the close of yesterday's candle was showing a slight loss.

So, my trades now stand as follows:

 

Current position from tonight

Curr. Pair	Direction	Entry	Stop	Target	P&L	Comment
GBPCHF	Short	1.4363	1.4472	1.4172	+37 pips	Active Day 4
AUDCAD	Long	1.0305	1.0223	1.0387	-10 pips	Active Day 3
GBPUSD	Short	1.6153	1.6257	1.6049	-	-
EURAUD	Short	1.3301	1.3419	1.3183	-	-
GBPAUD	Short	0.8681	0.8774	0.8588	-	-
EURGBP	Short	1.5268	1.5378	1.5105	-	-

Below are the screenshots ...

Until Tomorrow,

Happy Trading :-)

Short on GBP/USD

Short on EUR/AUD

Short on GBP/AUD

Short on EUR/GBP

Sunday Night (15th May) Update ...

Sunday 15th May ...

Tonight, I have placed 4pending Income Generator orders, and have 1 trade in progress which triggered last week.

The running trade, on GBP/CHF is a short, and the price is currently above the entry price.

The other orders are short on USD/SGD, GBP/AUD and Long on AUD/CAD and NZD/CHF

The current situation looks like this :

Current position from tonight

Curr. Pair	Direction	Entry	Stop	Target	P&L	Comment
GBPCHF	Short	1.4363	1.4554	1.4172	-96pips	-
USDSGD	Short	1.2370	1.2480	1.2260	-	-
GBPAUD	Short	1.5194	1.5359	1.5029	-	-
AUDCAD	Long	1.0305	1.0223	1.0387	-	-
NZDCHF	Long	0.7054	0.6968	0.7140	-	-

Short on USD/SGD

Short on GBP/AUD

Long on AUD/CAD 

Long on NZD/CHF

Update : having reviewed the orders, I have noticed that, while the price is above the 50EMA on the NZD/CHF, the 20EMA is below the 50EMA, and the 5EMA is between them both ... sure, ignoring the 50EMA the pair meet the entry criteria, but with the "confusion" in the Moving Averages, I have decided to remove the order as the aim is to remove unnecessary risk.

11th May .. and the Importance of Risk Management...

Good Evening ... :)

I have placed the following Income Generator trade orders ...

Short on USD/CHF, USD/JPY, USD/SGD and GBP/CHF
Long on NZD/USD and AUD/NZD...

I had a look as well this morning, and since a couple of the possible Income Generators hadn't triggered I placed them in the market ... the only one to trigger was NZD/USD ... which also stoppped out today for a 1% loss.

At the moment the market isn't being kind ... my Demo Account has now dwindled by over £1700 .. from £55300 to£53600 ... with this many trades going against me, it's easy to see the importance of Proper Risk Management.

... anyway ... I'll be back tomorrow evening ... until then be safe in the market :)

Cheers,

Current position from tonight

Curr. Pair	Direction	Entry	Stop	Target	P&L	Comment
USDCHF	Short	0.8777	0.8887	0.8667	-	-
USDJPY	Short	80.55	81.35	79.75	-	-
USDSGD	Short	1.2273	1.2370	1.2176	-	-
GBPCHF	Short	1.4363	1.4554	1.4172	-	-
NZDUSD	Long	0.7978	0.7865	0.8091	-	-
AUDNZD	Long	1.3681	1.3525	1.3837	-	-

The following are the charts I traded :

10th May ...

Having looked at the Forex Calendar at www.forexfactory.com, the announcements I'd be watching are for the Aussie, the New Zealand Dollar and the Chinese Yen.

The trade orders I have placed are on the EUR/USD, EUR/CAD and the CAD/JPY and pan out as follows:

Current position from tonight

Curr. Pair	Direction	Entry	Stop	Target	P&L	Comment
EUR/USD	Long	1.4435	1.4249	1.4621	-	-
EUR/CAD	Long	1.3928	1.3782	1.4074	-	-
CAD/JPY	Short	83.07	83.92	82.22	-	-

The EUR/USD pair do not strictly meet the criteria, except that the price is bouncing of the 50EMA, and while the 5EMA has moved below the 20EMA, the 20EMA is still above the 50EMA.

Long on EUR/USD

Long on EUR/CAD

Short on CAD/JPY