Yep, this day had to come, I shorted EU on Thursday, and keep shorting it, and now I am negative 1000 pips on all of my positions, all the fundamentals are not good for the dollar, I am just hoping EU will bounce off of 2300 area again.
Lesson learned? Not yet, still my position open, will see what it has to bring me.
I have a feeling that I am going to regret it. :)
good day everyone
Yep, it was an awful day, I was - 170 pips at one point on all of my trades, with maximum single trade DD of -80 pips. Way to much for stop, but still was hoping to get the top of the spike, and that spike was crazy also, one thing i see is profitable +5 pips on my first trade, the second thing i see is -50 pips and trigger of my upper top at that point thanks ECB :))
Anyways , waited for it to go down, and closed all of the trades at bounce of upper trend PA.
FOREX teach me a lesson please!!!! So I stop trading this way.
Dima
Today only three trades, in London session, the time span between 3-to 7 am EST was dead, no price action, good for small scalps.
Managed to get some trade with relative small draw down:
Hello, I had Just one trade for today, as I was out all day, and couldn't sit in front of the PC.
+11.6 pips for today, small scalp.
Hey all, sorry I missed my post yesterday. I have my screens for both Jun23 and Jun 24,
Jun 24 was kind of annoying, in terms I had to wait all London session until NY open to get my first trade to BE, close all my trades for that day with 63.3 pips profit, with max draw down of ~78 pips.
Jun 23 was a different story, I was out most of the both sessions, and only traded ~2 hours of each. It went much faster than today did, I did manage to close for 29.3 pip profit.
Bah I thought today was going to be it, I was -80 pips total at one point, still added another trade and kept hoping that the price will retrace, it did sort of, managed to get out with +32 pips. Price quickly retraced back after I closed all of the trades.
I am thinking that I need to rethink my strategy :), even small stop losses are ok, as long as I get my Take profits large enough to cover sl,... of course I will rethink my strategy after i get burned, for now will will go as it goes. I am thinking it going to be like one of those EA for Metatrader, smooth curve up and then plummet down since one good tranding day i get my direction wrong and keep adding trades will eliminate all my profits.
ah we will see, still thinking about it
Lucky...
Only two trades for today, first trade went into positive +7, than retrace brought it back to BE, I closed it for small profit +2.8. This is big mistake to keep loosing trades open and close positive trades early, it should be opposite, of course risk is small when i close early.
Second trade went into negative for small -3 pips, then slowly went down, I closed it for small 6.8 pip profit, if I would have held it, it would have reached my profit target of 10 pips easily.
Three trades today, first trade was up +8 pips, I refused to close, then it went into negative -30 pips, along the way up I was adding more trades, to possibly catch the top, got lucky again caught the top on the third trade and held it until the first trade turned positive.
I was hoping to see a worst case scenario today, to teach me a lesson. I guess it will teach me a lesson when I will trade a lot more lots, than I trade right now.
Its going to be fun falling down...
Hello, two trades for today, first trade went into negative as I bought on top, price retraced down and "poked" the top several times, i had an opportunity to close for a small loss of ~2 pips early, i waited and let the price go down to -24 pips, I also added another trade hoping for a retrace back up to test 2400, price went down for the second trade for about -8 pips.
Again we got lucky the price went up and i closed for two of the trades for +2.3 and +16.4 pips.
LUCKY, what can I say.
5 trades for today, first 3 trades went OK, with the second trade should have been better, retest of the support break common mistake, price went where it was going.
The 4th and 5th trade are again double draw, the 4th trade went into negative 13 before returning to BE, the 5th trade was very risky, bounce of 2300 number, gambling.
I wonder what I am going to do if the price continues to go in the wrong direction...
widen stop loss add more trades, average in a BE after 15 trades in the wrong direction with massive dd? not sure
I guess for now,
LUCKY AGAIN?!??!?
Two trades for today, one during London session one during NY session. NY session has more ompf than London. +13.3 pips on first trade went into negative for -12 pips before returning. The second trade went into negative -8 pips before going to +11 and then +30 pips after retrace.
Three trades for today, first trade was a typical scalp for +1.6 pips.
Second and third trade went into negative, first trade went into -25 pips, the third trade went into -7 pips before returning to profit, I did manage to close second trade for BE and third trade for +16.5 pips.
Very sad way to trade to tell you the truth. I know it does not matter much, but i did refer to higher time frames and the price was in higher region for the day, had higher chance to retrace back that up, but of course in a trending market that does not mean anything. it could have went further, which in fact it did after that retrace back.
Another lucky day?
2 trades for today, first trade went fine, with very little draw down almost none, the second trade wen't into positive for 7 pips and reversed to -15 pips. Then came back to the same target, I closed for 8.9 pips.
Again I let the SL be very wide, and in hopes that price will reverse.
Lucky again?
I am waiting until my trading style going to wipe me, I am making a trade by one rule, and exiting by another or gut feeling. Widening stop loss, and referring to larger time frames, in hopes to find something that will make my trade valid.
two trades for today, +12.6 pips
one trade went -13 pips into loss before i closed it with +2.7 pips profit.
9 traders for today, not very happy with the trading style, I still can't resist leaving my wide stop loss, and adding another trade in the same direction to limit my loss or BE. in most cases my second order is in profit larger than if i would have taken small stop loss on the first order, but I am not sure I would have taken the second trade if I did not have the first one in negative, which is really stupid in my opinion, why make another trade in the same direction if the first one did not work out ie the trend not in the right way, and the dips will be very small if any, which will not make my trade even a BE trade.
out,
Dima
14 trades for today, several trades did not go as planned, as I am being to confident that I placed my order in the right direction, and at some point had to sit through some large draw downs, placing second trade to compensate for the first one. Have to underline that my stop losses for those orders are quite large, in other words I am waiting for the correction to pass, the correct way to trade would be to place my SL orders just like I did when I was scalping, but in many cases the trade just reversed after hitting my SL, very hard to predict Stop loss placement, if oyu place stops by the book that u know they are going to get triggered.
Only 4 trades today, all of them went to the right side for larger profit than I closed them.
+11.3 for today total, finishing early in London open.
I could not resist to take couple of trades today. One thing I did not like about trading during such large news time is that average tick size is 5-10 pips, so my average stop loss of 5-7 pips is not large enough. On my first trade (-2.9) i was negative -19 pips, I then put another trade in the same direction in anticipation of reversal at higher price, in other words not following my rules, but all of the sentiments for that time was negative euro, and my anticipation was correct, just did not hold long enough, but we are scalping here not swinging :)
Dima
Just five trades for today. +16.2, several trades would have been better, but I am not complaining. Done early for the day, not even going to try NY session, I know the volume is going to be large after 10:00 EST.
Will see whats tomorrow going to bring us, with NFP and other "crap" coming out. Maybe even no trade, just going to watch or trade with small lots.
Good day all.
Hey all, Had semi productive day, +9.2 for today. As always i am to quick to close the trade, I can't take much heat and wait for the trade to form, I guess that's why they call it scalping, minimizing risk and taking fast profits. It just does not settle in my head how I could be profitable if my average loss is higher then my average win, since my win% not that great.
Today was an ok day, I made 9 trades (Still a lot in my opinion), I was up 21 pips at one point, and lost -5.9 on one trade as I "chickened out" and closed the trade to early.
here is my trade chart for the day.
-1.6 for Thursday, and Friday no trades due to no electricity entire day.
I took around 20 trades on Thursday and still ended up loosing for the day. I need to make some rules on how many trades i can take and to cherry pick my trades. Also, many people been making rules about their maximum loosing days, ie how many days they can loose before they stop trading for the day.
I am going to be thinking about those rules over a weekend.
Later all,
Dima
Hey all, been trading from Laptop in the last two days. Had my "first" trading day overseas in Belarus on Tuesday, and after 11 trades I got Break even.
I need to limit my number of trades, I am not sure what got into me, I was negative 8 pips after 3 trades, and only recovered after 11th trade, obviously my R:R is messed up. but hey its scalping.
NO Screen Shot today. still trying to adjust to my laptop.
My final trading day this week, I'll be back on Monday trading from my laptop.
Have a good weekend everyone.
Day was kind of busy for me, as I am leaving to go to my home country (Belarus), I am leaving on the 20th of May. So overall I am -3 pips for a day, took a quite large loss of -6 pips on my second trade. I should have lft my SL at -3/-4 as there was no follow through.
I also seem to get a direction in the correct way, but have my fast trigger finger.
Good night for now , good day tomorrow.
Kind of new style I am trying out on 1 min time frame 0.9 spread on E/U Oanda.
My third day trading like that:
Second trade I took because of the bounce from the break of the up rising minor trend line
Ok, so now I am working on which time window to use for trades, London Open ~2:00AM EST until 11:00 am EST, perhaps, would be my first option to look into.
Well this is my first post for this blog. Tomorrow is Friday April 23rd, 2010, my first day trying to trade (or should I say scalp) the Forex market.
I will be adding new links and info to this blog as I go.
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