Another slide this week, partially attributable to cutting a couple of my trades short by "monitoring" them rather than letting them run.


It's all a learning experience I guess.

Things certainly took a dive this week but I managed to claw a little back by the end. I think the main problem with the first lot of losing trades was that they were all placed on highly correlated pairs in the same direction, something to address in the near future. On the upside I've finished my exams so I can take a close look at my strategy and research some more ideas:

Last night I gave at least 300 pips back to the market on half a dozen trades. I'll try to make a habit of posting weekly results up on Fridays rather than put up daily results. Until then I'll see if I can make a recovery.

After much other activity outside trading and general procrastination, I've once again taken up trading (about a month ago). I've thrown a bunch of indicators together (MACD, %R and Stochastic RSI among others) on a H1 chart just to see what happens. The results have been nothing short of spectacular:


That's 69% in a single month with a maximum drawdown of less than 4%. I'll keep going with this system for a while and I might even considered putting some serious money into it. I think I may be onto something here...

Not a great deal to say about these trades other than I tried to trade in a different way than I usually did - with the trend other than on the swing.


There was one trade of interest there, the one with the largest loss where it jumped up to my stop then fell back again:


I don't know why it jumped up like that but it would seem that currently my account is too undercapitalised to survive long swings because that was the most I was willing to risk and I set the trade to the minimum amount. So I think at least for now I'll need to stick with scalping.

This time I was able to stick to my guns and stay in the trade until it closed. I did realise though that factoring in the spread I shouldn't have taken this trade because the risk/reward ratio was greater than one (19 pip potential loss over an 11 pip potential gain).


Today the EUR/JPY briefly broke out of its trading range from it's past few days and I wasn't sure what to do. So now I've come to the understanding I'm going to have to start using indicators in conjunction with basic support/resistance levels to help find turning points and the strength of trends. Though it was fun to trade just using the barest of tools for a tidy profit; I guess the way I want to trade needs to be simple so I can quickly identify and jump on a trade. This means I'll be taking Occam's Razor to the trading systems I look at (my own and one's I find or are suggested to me).

What can I say, other than that instead of closing the trade station and forgetting about my trades, I left it open so I could "monitor" them. The volume of the first trade was $140 and the second $100 (I was too hasty getting into the latter and forgot to check the amount).


So I can still pick them correctly, it just seems I don't have the conviction to back my judgement and just watch the trade happen yet; which I find very disappointing because to me it means I'm a long way from stepping up to a larger account. I need to be confident enough in my decisions to leave the trading platform open and to only make adjustments when something wildly unexpected happens.

But the more I trade the more I learn, so I guess there's only one thing to do.

Once again no indicators just S/R levels. It almost backfired when I was one pip away of getting stopped out on a count of having a premature entry.


It did gain another 40 pips on that but now I feel it doesn't matter that the price overshoots my TP level because it's much better to take profits than to almost take profits. I know I should trade more now that it's the holidays but I've only flicked on the tradestation a couple of times and no opportunities have jumped out at me until now. Speaking of which, I finally finished that book by Dr. Elder. It's a good read, I still recommend reading it even though in parts it is long winded.

Now as for uni, got my results back from this semester and they are as follows:

• 2102AFE Financial Accounting: Pass
• 2105AFE Introduction to Business Law: Distinction
• 2201AFE Corporate Finance: Credit
• 2204AFE Financial Institutions Management: Distinction

Which is good for a GPA of 5.25. Apparently if I get a GPA of 5 or above next semester I'll get some sort of cool award. It should be possible because I'm only doing two subjects towards my major and the others are just degree fillers.

On the physical front I sprained both my ankles again a couple months ago so I can't tumble anymore. That being said, I started tumbling again a couple weeks ago . I'm working on doing one-legged calf raises trying without holding onto anything for balance in an attempt to tighten tendons and ligaments on the anterior of my foot. To make sure I'm not going to sprain anything on the floor only I'm going to practice flics and whips for the rest of the year.

I'm also determined to get my six pack abs by August the 18th (this year). So much so I've given up alcohol and enlisted the help of Alex Azarian (prepbyalex.com) and now I've got a meal and exercise plan to follow instead of just doing whatever in a somewhat disorganised way.

I'm getting pretty close to a one armed chin-up now, last week when I tried I only need a 12.5kg assist to get me up there which means in percentage terms I'm 79% of the way there.

Well that's all for now, but I do hope I'll put on a few more trades this month.

Made this one a little before going to bed the other night after I remembered that I hadn't placed a trade in ages. No indicators on this one, just used support and resistance levels which worked out quite well for a solid 23 pips (stop loss in red at 163.20).


I'll probably become more active in a few weeks time after I finish all my exams and such.

P.S. I'm still trying to finish reading "Come into My Trading Room"

Stopped this one because the direction looked indecisive, original stop was 163.00 with T/P @ 162.50. My account is now over $14 again; looks like I can give up work and retire at long last.


I just checked the charts again and it seems that EUR/JPY rose a little (to around my original of 163.00) and is now more or less sideways.