Wednesday, November 5, 2008

Finally some new trading

I had two sets of trades, small loss in eur/usd and nice win with add on trade in eur/jpy.

I get back to trading with half size lot's but got leverage up a bit. Half size because I feel comfortable when I'm losing on half size trade. I can better grasp what is going on and decide do I want to take a loss or leave it some more on. If it's going my way than I can add another trade easily. That's especially handy now with big ranges. Leverage is now around 7 for full size position. As I like structured trading I decided to start a day with 40 half size chips available to spend. It's like going to casino, you can lose as much as you take from home but not more. So I have 40 available pips to lose each day. On the other side I cap my winnings at 80 half size pips. For me it's far more appropriate not to go after more because in my trading history I never really get any big days. But many times I'm trading like I aim for big gain and usually I lose at that time big. That is a range of -1.5% to + 3% a day which is ok with me. I want to feel comfortable losing those 40 pips and want to be safe that when I have nice day like today that I hold to my winnings.

I'm still little afraid of trading and losing because of my last very bad days so lets start slowly.

Today +38 full size pips. I could stay in eur/jpy longer but it gave me just before my exit 25-30 pips in a spike and I was around my daily target so I just took the profit.



5 comments:

ORION MACHINE said...

Good job, "take the next step, no more, no less and the rest will be revealed..."

-Ken Roberts

FX said...

Thanks

StockHunter said...

Nice, keep it up!

FX said...

Thanks, you are doing nice lately with your trading.

StockHunter said...

Thanks! :D