Monday, February 28, 2011

February 2011. results

+5 pips
+2.5 %

I like black.

+5 pips

I missed nice run around 11:20 because I was away from the screen. Also I mismanaged trade next to the last one in gbp/usd. I exit it in a small loss without break to the downside just before move up. Today's +10 half size pips are this months profit, so glad to close it in black.

Friday, February 25, 2011

-9 pips Awkward start

Awkward start, being right, but failing. First two longs were good intentions. Third short not so good. I moved stop and it really looked if it failed to go up any longer it will reverse heavily back. It just did that but I exit it before the move. Just to keep my loss small around 10 half size pips for all. It didn't help much because I started to catch up game, digging myself deeper with each trade. Later it was at -40 and some half size pips.
Besides improvement in capitalizing on some trades more by holding them for much longer period I need to improve in abandoning catch up trading. Then I just look at p&l, I don't trade market at that time but money swings.
On a side note Oanda's spread right now is at 0.7 pips for eur/usd.
In the end manageable loss of -18 half size pips

Thursday, February 24, 2011

+7 pips Tradable market

I like today's action, it's like something from before that I'm used to. Something is happening, there is real interest in moving a market. I blow up my first trade and closed it poorly. Because of that missing potential I shorted in my third trade and got stopped. It something that I do, when my original idea would turn out right and I missed capitalizing on it I switch sides. Just bad behavior. Fifth got stopped because of tight stop, maybe I should have closed it manually before. At least on my sixth trade I bought into support, so move to new high would recover all my loss so far and anything above would be profit. It would be totally different if I waited for new high, enter pip or two above and market would turn in next ten seconds. I really like my last trade. Gold was approaching yesterday's high and I caught nice starting position. It hesitated for a second or two at the previous high and I closed, not worrying will it break high or not. +15 half size pips

Wednesday, February 23, 2011

+11 pips

First trade was impulsive, not thought out, I moved stop on it. Yesterday I traded more freely without strict -6 pips scalp out, and then today just jumping in moving stops. Bad behavior is always just around the corner. Well maybe I need little more freedom sometimes, just that usually ends up in misusing it.
Second trade in eur/usd was planned scalp catching bounce from a low. Half size trades in eur/usd.
In gbp/usd I had idea that it could correct back up after it drifted some fifty pips down from news spike. I used quarter size and I'm glad about it. For those idea trades it's better to have lower risk so it prevents from marrying to that idea. It didn't move strongly as I suspects it will so I didn't have nerve to hold it which I probably should have because it developed nicely.

Tuesday, February 22, 2011

+11 pips Swing trading attempt

First I tried to make a foothold in shorting NZD for swing trade position. Trades were quarter size and max loss was about 15-20 full size pips on combined position. That was later max open profit also.
ECB comments made EUR jump higher, that lifted nzd/usd as well. I closed my position in nzd/usd before stops kicked in to release funds for trading eur/usd. In that trade I made very bad exit just before things started to turn back up.
In summary I did what I wanted, I was holding trades for bigger gains because situation dictated it. My only regret is that I didn't close second trade entered with limit order in nzd/usd early. When it didn't work immediately and it was break out trade there was no point in holding it.
+12 quarter size pips in nzd/usd and +16 half size pips in eur/usd.

Thursday, February 17, 2011

-16 pips

First trade was a bit naive. I jumped in after 20 pips spike in seconds and didn't bail out at the first sign of trouble. I had second chance but my mind was fixed on idea that it's a start of big move up. All my following trades were based on that premise. Small stops waiting for move up. It didn't happen. I want to note that many of my trades had initial profit marked with yellow. So it's again dilemma scalping or holding. When I hold it doesn't do me well. When I don't hold I can't believe how I could have great day just by holding one winning trade.
I somehow feel that I'm training. Why I train now after so many years I don't know. Like today I had many trades with such small stop loss set out, like 2-3 pips. I never done that before and it's interesting experience, never mind that I'm losing some money doing that. I lost before in much worst manner.
On second chart it's just trading out of boredom or wanting to get some excitement. Maybe this is real story of my trading. I really don't know, I'm just updating this blog with no real clues. One thing is obvious that trading in such small ranges of less then twenty pips is really unprofitable for me doing what I do. In the end with -33 half size pips I lose much more then I'm able to win on any day lately.

Friday, February 11, 2011

+1 pip

Again slow and ugly market for which I don't have solution except not to trade it at all. Just observe consolidation after my first trade, ten minutes at the bottom of the chart in 3 (three) pips range. Then range expanded to whole 5 pips for next ten minutes. All that in trend day, not some chop in the middle of nowhere.

Thursday, February 10, 2011

- 7 pips

At the bottom of the chart it was like I bought at my first trade and held a loss all the way down, that was equal to my cumulative loss. I lost my temper after that trade that had yellow marked gain that I didn't take. After it I was long for no good reason. This trade after trade thing is equivalent to prior behavior of moving stops and averaging.
Maybe it would be better to trade on this 30sec chart that is shown. I trade of 10sec and lose myself. Later when I look at 30sec it just doesn't make sense.

Tuesday, February 8, 2011

- 4 pips

This kind of scalping is not doing me well. I'm just building small losses one by one. First entry was late, second on time. Then I put in limit order too late. Then string of losses with market doing nothing really, and lastly trade that cut loss in half. -8 half size pips.
I feel like I'm experimenting. I'm taking too many trades for this kind of scalping market. Maybe I'm taking profits too soon also on really good trades. Don't know, I'm adjusting to doing things with those small stops. I never traded this way. Remember swings from before and averaging? So in a way it's all new to me and I'm just learning. Also market is a bit different, lack of quick followthrough for scalp moves, moves are shorter. Now twenty pips straight run is a bingo. I need to put closer attention to range on small time frames, short top of it. Usually shorting bottom of the range gives fake out and instant loss. Probably I should use more limit orders to put me in, market order is now regularly late and I give away 2-3 pips that should use as a buffer while defining is move valid or not. Maybe I should stop looking for the moves the way I used to and start thinking in terms what will give me five pips.

Monday, February 7, 2011

- 5 pips

Not an easy thing trading with small stops, -10 half size pips.

Thursday, February 3, 2011

+3 pips Just one trade

Ugly market for scalping but I caught one trade and luckily get myself 1R of 6 half size pips on it.

Wednesday, February 2, 2011

+7 pips One trade tick away from sl

It's very hard to make a profit in the way I used to. Market is moving differently and it's hard to predict it on any time frame with accuracy. This trade almost got stopped with sl at 32, it was one tick away.