Hopefully a new start.

I didn't stop trading, I keep doing it. So I decided to start blogging again, here is the weekly number since last time I updated it:

3/15/2010 -6
3/16/2010 35
3/17/2010 14
3/18/2010 -257
3/19/2010 4
weekly -210
3/22/2010 -79
3/23/2010 42
3/24/2010 98
3/25/2010 17
3/26/2010 20 98
weekly +98

I need to do more focus on my trade execution other than the P/L.

Monthly number:
Jan: 63
Feb: 359
Mar: 19

2010-03-18 hudge down, take some days off.

-250 pips today, will take some day off to regroup.

2010-03-17 Greek comment.

2010-03-17 Just BE

Shorting the bounce of a down trend move, it dropped from 50 to 30 in 5 minutes, so I got in at 36 40 45 46... Lots of stop out and ended with BE.

2010-03-16 POST FOMC trade.

Fed keep the interest rate and people are expecting them to raise the rate later now.

DJ fed fund future see 70% odds nov hike, vs 84% odds pre-fomc





Today's trade was important not only because it's a winner, but also because I am again on the top of my account balance high. I was here 1 week ago, and then I draw back 200 pips.

More importantly, I'm using the right size and no rule breaking today. Also managed my exit well.

2010-03-16 S&P ends downgrade review on Greece.

I traded well this morning, wasn't plan to do anything before FOMC, but the review news hit the market and Eur/Usd pop from 45 to 65 in 10 seconds, I was able to buy the pull back and then short the double top.

When I long, the stop is 8 pips from entry, on that short trade, stop is at 75

2010-03-15 same old, let the winner run.

I wasn't sure if I should let the first short stop out.. but I kept it anyway.. my stop is at 70 just to be sure that when I get stop out, the trend is really changing..

if you count my price 60, to stop 70 and target 50 and 45, wasn't bad RR.. Anyway, RR only works after the fact, keep your stop tight and let your winner run is the key of this game.





Update: The day started great, I had winner for 10 pips, which met with my daily goal. And I continue to trade later one, the one mistake mess the whole day, I was shorting, with some profit on the table, I decided to take half. So I covered half, by MISTAKE, I put one more "0" so I covered 5x size, I closed the position right away. That's not a big deal on the p/l point, it only gives back 5 pips. But I kind of get into this want to fight it back scheme again, now I'm down 20 for the day and still holding a bigger position, with stop at worst case of another 20 pips. will see.

weekly review.

3/8/2010 14
3/9/2010 31
3/10/2010 -177
3/11/2010 95
3/12/2010 49

3/8 65
3/9 118
3/10 -73
3/11 85
3/12 6


Total of +12 pips... The 3/10 is really a killer and I wrote about it in my post. I never feels this happy that the week has ended finally, so that I don't have to trade and can spend some time with my family.. Also review my chart!

I am doing work with FXCC, it shows interesting report, the above pips number was calculated by myself, it's converted into full size pip, as I normally traded with half size so that I can scale in/out.

Here is the number from FXCC, for the *pure* pips number, size is not a factor, I added to the 2nd column of table. Now I can see that I traded bigger size when I'm losing.... WTF#$%^&*@

1: sunday night was good, follow the trend and easy 2R in pocket.
2: Monday is good, pick the reverse point and easy profit.
3: Tuesday was also good, choppy market, picking top and bottom
4: Tuesday night was bad, keep on buying the bottom, should have keep my entry and timing... only on the previous level.
5: Then the rest of week was revange trading to get the loss back, I mainly traded base on my P/L, not the chart or the market.


Action taking:
1: I need to have written plan again before the trade. and need to have levels of S/R and only trade these levels
2: will try to follow the trend when on 1 minute chart, EMA 5 is above or below EMA62, meaning it's trendy short term, and short/long in reverse on 10 seconds chart, see how it goes.

2010-03-12 eur/usd heading north.

EUR/USD break above 1.3700 mini stop and then 1.3740, stay above these level pretty much all the time.

I had a short order with half size filled at 1.3778, and with that in mind (wrong), I have a short bias.

Now the last position is also a half size and it's running.. I'm expected to close it in 2 hours, before Oanda widen their spread to 10. yes, no mistake, they keep spread as wide as 10 during the last couple hours of the week and first couple hours of the week.

2010-03-11 finally

Finally I'm able to blog, It started 03/09 night, I was longing the e/u when it's dropping from 1.3600 to 1.3550, it started with a small range play and then another catch of falling knife, then revange, finally when I'm too tired to trade and have to go to sleep, it reach the bottom. I did have 2 orders got filled at the bottom, but I was too scared as I was running 5x on size, so I moved my stop to BE right after the entry, it was then stopped out.

The next morning 03/10, I was shorting this, same pattern, not the chart pattern, but my behavior pattern. I was down -200 pips at the worst case.

The night of 03/10, I was added to my short position whenever there is a pop, but coupldn't hold on to them as I'm taking the profit on the way down. The average price I got was 4x at 1.3658, and it did reach 1.3620 level, my target was 1.3608. And I moved my stop to 1.3640, it was stopped out.

Then this morning 03/11, price topped at just below 1.3690, I was shorting it, got some profit and closed all position, then it dropped to 1.3655, I was long on the way down, and closed all position at 1.3668, right before it take off to 1.3682.

Finally, I reduced my size, now I'm holding a short at price of 1.3674, with stop at 1.3690, target 1.3656.

2010-03-09 not much movement in the market.

At 1 year after we made low in stock market, today's stock market is no suprise to us, boring..
Same as FX, we ranging between 1.3540 and 1.3590.

I had some long at 65 level, now try to see if it can get to 90 level.




The long was closed and now it's short.






close all position left at 00, it's the EMA62 on 1minute chart.

2010-03-08 let the winner run.

I guess the scheme this week for my trading will be let the winner run. I bot 1.5 x eur/usd at around 1.3610 to 1.3615 level, 0.5 was stopped out, 0.5 was closed at 1.3620, 0.25 closed at 1.3635, now the last 0.25 is running, target 1.3680. Will have chart later tonight.

I also traded little bit last night as the price was ranging and moving higher, I bot at 1.3670 level with about 4 to 5 pip stop, it ended with 3 pips in profit. The last winner didn't run, it was stopped out right before the price went higher.

The last 0.25 stopped out at 1.3623..

Forex Centrol Center

Pretty interesting software, I just installed it and import my Oanda data for this yeear. Here is the pips by hour of the day.

This again prove that I shouldn't trade after 8:00 PM PST.. The time in the chart is EST.

weekly review.

First week after increase the trading size, got bumpy with it..

3/1/2010 23
3/2/2010 31
3/3/2010 11
3/4/2010 31
3/5/2010 3



Total of 99 pips and 2 rule breaking days (Monday and Friday).

More detail reviews to come.

I had plan to review my trade over the weekend, that's still on going, I also want to try the tools from forex control center, see what's my performance down to single trade level, never install that software, will give a try tonight.

EUR/USD ranging from 1.3840 to 1.3440 this week, couldn't break either up or down.
1: following the bigger trend, it's ranging and I was fighting it.
2: Fib number works on longer time frame
3: contral the size to 10 / 20 /40 and see.
4: Let the winner run is the key to success

Goal for next week:
1: write a plan and follow the plan.
2: Take profit at 1R and let the rest run.
3: follow the trend in breakout and short the bounce or buy the dip.
4: Don't trade off session, 8:00 PM.

2010-03-05 plan for NFP trade.

1: trade half sized.
2: wait until Oanda get spread to 1 or 0.9.
3: follow the 5 minute and 1 minute trend.
4: buy pullback and short pop.

Good luck.

Result1: I traded too early, when spread is 1.5. my limit order is hard to fill and market order got filled at terrible price.. until 6:05, it was 0.9 pip spread, that's 35 minutes after the news...


end the day with flat.... +2 pips.. what if... :)

2010-03-04 short after Durable goods and factory order.

News at 7:00 AM PST, I waited after the news, untill Oanda give me the *normal* spread, which is 0.9. and I wanted to short at 40 to 50 level, but it keeps dropping, so I got half at 39 and half at 36... all closed now..












Done for today.

today's lesson is to let the winner run, I was shortting with 2 orders this morning and I closed one then 2 minutes later, it dropped 10 pips, I closed another... then I kind of scalped 8 or 10 round... If I could have kept that second short till now, it will be 2x of the profit compare to all my scalp and it's risk free.....

2010-03-03 I tried to follow the trend.

I do have orders to buy the pull back, however the pull back is not deep enough to hit my buy order, so I shorted with 1/4 size...

another one, it dropped right after I closed my position.

2010-03-02, let the winner run again..

my last position yesterday was a good runner, got me 25 pips in full size... hope this one do the same... LOL, that we need it to move to 1.3720...

Anyway, here is the chart

2010-03-01 first trade of March and let the profit run.

Took about half at 82, rest is running, targetting 3520.





Closed at 05, previous low could be resist.




Price is dropping to 1.3512 level, I'm still holding my 0.25 size short, target 1.3470 level.