April 2011. results

P&L no change

I'm at exact dollar amount where I started the month. At least I can say that there were opportunities for me to trade that I was happy with. My trading, ups and downs, not so bad but not so good either.

Between blogs that I follow there are two that are inspirational for me lately so I want to share them:

The forexbird - forex scalping at it's best. I would really like to watch video of his scalping because charts are to static to show nuances of his work. Extremely tight on stops and fast in his reactions.

Bankrobber - momentum trading of stocks. Very simple trading by going in where momentum is in that moment but maybe the most profitable trader/blogger that I found. Plus great mental mind set which is explained in many posts. That kind of trading is closest to mine preferred trading. I'm a little bit jealous that I'm not capitalized enough to trade stocks that way because there are many more daily opportunities of that kind in stocks then there is in forex or future markets.

Positive

Let's keep it positive and head out to the pool.
+16 pips

Steaming

Still at mercy of my emotions. After starting gain in eur/jpy I made few mistakes in eur/usd leading me in anger. So from that followed many steaming trades. No reason for them except releasing me of emotional pressure. Hope trades that just churn account.
-31 pips

April part2

21.
+1 pip






20.
Mixture of bad trading at first and good trading later. In gbpusd trades were half size and after first loss all day was catching up positive p&l.
In eur/usd I started with in&out, in&out, then when I noticed mistake of ruining good starting trades I reversed direction and started angrily to go against the trend. I made a break, get myself together and started looking at the price and not my ideas in the head. Didn't capitalize much but I started to trade better.
+7 pips






18.
+17 pips

April

14.
Finally moves that enable efficient scalping.
+14 pips



13.
Eur/jpy happen to be random win, it could be big loser also. Failed break out in eur/usd.
+12 pips




12.
Half size trades. Clumsy trading with half size. It would be better to be focused and get out immediately with full size then this.
+4 pips




11.
Half size trades.
-1 pip




6.
Failed breakout.
-12 pips



Boring (half size trades)



5.
Where are the days when gbp/usd would on after news rally make 200 pips. All trades where half size except first one.
-19 pips



4.
Last two trades were me imagining things, never good, it's always better to just follow price. Wasn't really thinking today about capturing profit more being fearful of a loss.
-8 pips

Adapt or die

It's really hard for me to trade lately. Market is having nonexistent range in my time slot. So scalping that I'm used to isn't really possible. Failed moves eat all the winnings, winning moves are so small. Some part of the move is signal, something goes on spread, when I get in it's close to being over. That's when I guess direction correctly.

I can trade in ideal day from 9 until 12.30. In below charts it's shown how small range was last week at that time. On closer look those 30 and 40 pips ranges are 10-15 pips ranges most of the time. Adapt or die, I didn't.