Week 104: Gained 7.2%

Only two trades this week after four consecutive weeks of losses. Not in the right condition to trades most of the time. Reasons being unable to find right opening and low confidence level after so many blows. Gained 6.7% or 80 pips from USD/CAD pair on Wednesday at GMT13:01 after a major CAD news announcement.

Week 103: Loss 9.4%

With August trading month coming to an end, I almost undone everything I have gained in the month of July. Stopped all trading activities from Sept 2. Taking a break and regroup my mind and body in preparation for the exciting Sept. Have to be at ease, relaxed and confident with myself. Overcoming oneself before you face the trading world.

Week 102: Loss 14.9%

Another disappointing week. With 6 substantial losses and only two scalped win. Recorded a double digit loss in percentage this week. Again the restlessness and recklessness reigned my emotions during trading. Desperate to overturn last week losses, I lost control of my trading rules. Lose your mind lose your money. Learn the lesson!

Week 101: Loss 2.6%

Started the week on a bad footing. Made two substantial losses from the first two trades of the week. Lost 4.5% from GBP/USD pair followed by another 3.9% loss from GBP/JPY pair made me fearful that my winning run might come to an abrupt end. Subsequent trades were made in desperate measures without clear trading signals. Managed to salvage back some losses from few scalp trades along the way. Unfortunately the consecutive winning week had to come to an end.

Week 100: A 0.6% gain.

The Week 100 ended with 0.6% gain. Total pips gain was 10. Most of the trades were scalps with the biggest win coming from EUR/JPY with 2.1% gain on 11 August 2010 while the biggest loss comes from USD/JPY pair with 3.5% loss a day earlier. Managed to scalps few wins to claw back to green territory.

However, there are two open trades with negative result. Real time portfolio result were not that encouraging. Have to wait till next week to see the result.

Where is the confidence?

Had 5 trades so far, one win, one loss and 3 scalped win. Overall this week portfolio was down a little. And the running trade, NZD/JPY from last week is still open, currently down approximately 190 pips. Real time status for this trade is -12%. Did not managed to get out when it was at a smaller loss. Unwilling to accept the loss and ended up constipating the trade. Managed to recover some losses from yesterday USD/JPY trade that cost me 3.5% of my portfolio. Shorted EUR/JPY today at GMT5:37 at 111.733 without any profit target set. And closed it with only 24pips profit to recoup 2.1% of portfolio. The pair managed to hit the low of 109.764 at GMT14:00 for additional 170+ pips. The trend look rock solid for a downtrend but I was sceptical. I was not confident enough.

Week 99: 11.7% Gain

Had a decent run this week, this time posting a 11.7% gain. Total of eight trades, one loss, 3 wins and 4 winning scalps. The NZD/JPY from Thursday is still running and currently at -35 pips. Had a roller coaster ride during the NFP. The risk aversion sentiment were strong and JPY strengthen across the board. Thought of having to long another JPY crosses after it swing wildly but had to forgo the intention as I have this trade still running. Equaled my record of fifth consecutive profitable week. Hope to extend the winning run.

Midweek review, 6 win 1 loss, 1 running.

Closed 7 trades so far this week. Significant win comes from AUD/JPY pair, with two trades contributing 5.5% and 4.8% respectively while one loss from GBP/USD erasing 3.8% from the portfolio. Managed to close another profitable trade yesterday, USD/JPY with 59 pips that contributed 3.5% to the portfolio. Current portfolio now stand at -33.5% notwithstanding current open trade, NZD/JPY now at -19 pips.

Week 98: Gained 4.6% w.o.w.

Another week of gain achieved. This time only 4.6% and total pips of 60 only. No significant big win achieved this week. Only managed to scalp here and there, with the biggest win coming from AUD/USD pair with 2.6% during midweek.

Week 97: Gained 22.5%

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.

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.

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.

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.

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...

AUD/JPY trade that went wrong

Had a chance to break my losing streak but the trade ended up break even. Shorted GBP/USD at GMT6:01 and exited at GMT6:58 with no win. The trade had went to over 20 pips at one point and I thought to myself, lets just take this but I never listen. Adjusted the SL to BE and let it run and it hit BE less than an hour later. Later in the day, longed AUD/JPY even though all technical indicators are still very bearish. I was anticipating a reversal after seeing the pairs dropping since early morning. I think I have lost all common sense to trading. I was too emotional and I need a break.

Bad Monday

Suffered another big loss on Monday. Total of 3 trades with 2 of them closed with small profit while the third trade ended with 6% loss. Felt like the longest losing streak. Longed EUR/USD before the signals are clear enough. I was assuming the reversal would happen as what happen few times last two week at around GMT7:00 but what happen last time is not necessarily repeat in the same way. Felt like every trade I entered turn against me. Felt like the market is suffocating me. Felt helpless. HELP!!

Week 93: Not so good week

Had a not so good week where most of my trades ended up in losses. Thought of quitting trading. After one year of being in the real estate industry, the income has been inconsistent though the time has been flexible. And my trading has been inconsistent too. Lost 3% from my portfolio this week, leaving me with only 45% from my initial capital. Total of 7 trades this week, 1 break even, 3 wins and 3 losses. The magnitude of the losses are bigger than the winnings, hence the negative outcome.

GBP/USD: 5 pips

Shorted both EUR/USD and GBP/USD today. EUR/USD was forced out at BE while the later closed manually with 5 pips. Was not in form lately.

Week 92: Losing week.

Suffered major setback this week. Failed to notice the changes in the trend. Was too focused on the smaller time frames that I totally ignored the long term trend developing. Lost 12.5% this week from my portfolio. Very frustrating result. When I thought I have developed the consistency in my trading, boom, bad week happen, knock the wind out of my sails.

EUR/USD: Lost 47 pips

Shorted EUR/USD at GMT 7:38 yesterday and lost 47 pips in approximately 2 hour. Effectively reduced my portfolio by 4.2% from this loss alone. Trade diagnosis: entered too early, did not wait for the confirming signal, the signal came much later than usual.