|
 |
| My Journey, Illusions and Discoveries as a Trader |
Moving on in July, I became more serious by getting a journal so that I could record my trading thoughts, ideas and also my individual trade entries and exits. In it were my trading plans and rules (if you’re interested to know what were in them, let me know)
It was also at this time that I was going thru the various forex forums and tried out the many different mechanical systems and feeling excited each time I eyeballed and backtested as if I have finally found the “holy grail”. (Hey, what did you expect?)
By the end of the month, I did a review and the results were pretty interesting to me. They looked like this: |
Out of 35 trades, I had 57.6% wins and 42.4% losses. Made 176 pips and lost 203 pips making a nett of -27 pips. My average win was 9 pips and average loss being 14.5 pips.
Bottom Line: Pretty breakeven month. The results immediately improved over the previous month as a result of the journal (I believe) and this was my only second month trading. The most obvious observation was that my average win was smaller than my average loss.
|
I carried on penciling my trades in August and little did I know what was to come. On the first week, I lost some 47 pips. And on the early part of second week, I found I was pretty invincible as I made some 186 pips in 8 trades (0 losses) from Monday thru to Thursday UNTIL ….. Friday when I opened 3 long EUR trades from around 2460~2467. By Friday’s close, I was down on all 3 trades. Oh btw, all those 8 trades were LONG EUR.
By the following Wednesday, market was trading around 22xx (some 200 pips lower) and I received the dreaded margin call. I was truly humbled then. My best week ever (I thought) turned into my worst week.
I decided then to take a break and it was not until the 19th of Sept that I started trading again.
I then went on to gain more trading experiences thru more losses for several more months and it was not until April and May that my records started showing more black marks than red marks. For what it’s worth, I netted 277 pips in the month of May.
|
|
Next->
|
|
|
 FXAddict Newsletter
|
Forex Brokers
|
|
|
New York: 
