Had a fantastic week. Biggest weekly gain so far. Total pips gained is 324 and added 22.5% to my portfolio. Two of the biggest win comes from AUD/JPY pair, 6.5% and 12.4% respectively. Scalped few trades here and there. One significant loss come from GBP/USD trade that cost me 3% of portfolio. Have to be careful with the SL placing and the entry timing. Hopefully more to come next week.
Forex Trading, Price Pullback Strategy, Trading Psychology, Trading Game Plan, Winning Mentality, Composure, Confidence, Concentration
Saturday, July 24, 2010
Friday, July 23, 2010
Week 96: 2.5% Profit from AUD/JPY
Only three trades for the week, two small profits and one break even. All three trades are AUD/JPY pair. Got hooked with this pair as it could earn interest when you leave it overnight. Although the winnings are small as I was trying to get familiar with this pair. Hopefully there will more winnings with this pair.
Labels:
Profit Week,
Trading Psychology
Week 95: 10% Profit
No trade after closing the AUD/JPY with 80 pips. Overall the week ended with 10% portfolio growth. Now at -54.5%, still a very long way from my target. Only three trades this week and all ended up with profit although the AUD/JPY trade was open from the weeks before. My mind was not focused on trading and I had made some poor decisions. Took a break the rest of the week. Like a football player need a winter break, hopefully I could come back fresher and more focused.
Labels:
Profit Week,
Trading Psychology
Thursday, July 8, 2010
AUD/JPY: 80 pips
Managed to close this trade with 80 pips profit after holding onto it for 9 days. There were no SL and this is the most daring of all my trades so far. In fact I went it against the market trend. And at one point the trade went as far as -350 pips. It does not justify the risk you have to take when only got 80 pips profit. At that point, I was running out of strategy, idea and motivation. Should have stop for a while, I guess.
Labels:
AUD,
JPY,
Profit Day,
Trading Psychology
Week 94: Loss 8.1%
Suffered third consecutive week of losses. This time its 8.1% of portfolio. After 94 weeks of trading, to be honest, my weekly closing of positive portfolio lasted only 4 weeks. The rest are all losses. Talk about consistency, winnings, control, etc...I wonder how long before I can even break even. It will be 2 years in another 10 weeks. The dream of financial success, passive income generating portfolio, it seems there is no light at the end of the tunnel. The market has been too unpredictable. I have been too emotional. Only thing left is dream...
Labels:
Trading Psychology
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