Trade #04 Sold DOW @ 16200.1

Soon after exiting Trade #03 the DOW climbed 50 pips, so I reentered short again with my usual stop of 60 and limit of 180 pips. The trend is still strongly down, I feel, and could go lower now the SPX has broken through the years open.

After leaving this trade overnight, I closed it this morning just before the DAX opened for +0.8 pips. Yea! The price had hardly moved overnight so I’m looking for other opportunities.

+0.8 pips

 

UPDATE: 12.46 11th April 2014

After exiting the price fell by 100+ pips in a morning. These things happen.

 

Trade #03 Sold DOW@16311.1

This may seem a strange trade as I started the day bullish for the DOW. However, once my trade was taken out the DOW continued to move lower to a point where I think it is going to trend down. I use my usual stratagy of placing stop at 60 pips and limit at 180 pips (3 times more) If this works I only need to win 25% of my trades to break even.

 

UPDATE: 20.13 GMT 10th April 2014

Manually exited trade @ 16153.9 for a profit of 157.2 pips – This went against my plan of allowing it to limit out for 180 pip gain, but I wanted to take the profit early and reassess my positions. SPX has just broken year open.

+157.2 pips Happy, Happy, Happy.

UPDATE: 12.41 11th April 2014

This trade would have paid out the extra 22.8 pips had I been brave enough to stay in.

 

 

Running Totals

I will keep a running total of successes and failures here…

Trade #01 Bought EURUSD +54.5 pips

Trade #02 Bought DOW  -60 pips

Trade #03 Sold DOW +157.2 pips

Trade #04 Sold DOW +0.8 pips

Trade #05 Sold FTSE +31.2 pips

Trade #06 Bought GOLD +100 pips

Trade #07 Sold FTSE -40 pips

Trade #08 Bought EURUSD +28.7 pips
Trade #09 Bought FTSE +36.8 pips

Trade #10 Sold GOLD -40 pips

Trade # 11 Sold GOLD +35.2 pips

Trade # 12 Long DAX +65 pips

Trade # 13 Long EURUSD -10 pips

Trade # 14 Short GOLD -40 pips

Trade # 15 Long DAX -40 pips

Trade # 16 Long DOW -60 pips

Trade # 17 Short DAX -30 pips

Trade # 18 Short DOW -40 pips

Trade # 19 Long DOW -40 pips

Trade # 20 Short Dow -40 pips

Trade #21 Long DAX +80.3 pips

Trade # 22 Long DOW +61.1

Trade # 23 Short FTSE -30

Trade # 24 Short GOLD + 5 pips

Trade # 25 Long DAX +120.5

Trade # 26 Long EURUSD +60 pips

Trade # 27 Long DAX -30 pips

Trade # 28 Short DAX -60 pips

Trade  # 29 Long FTSE +41.4 pips

Trade # 30 Long EURUSD -30 pips

Trade # 31 Long EURUSD -40 pips

Trade # 32 Short DAX -40 pips

Trade # 33 Short GOLD +100 pips

Trade # 34 Short EURUSD (open)

Trade # 35 Short GOLD -40 pips

Trade # 36 Long DOW +150 pips

Running Total +417.9 pips

 

 

 

 

Trade#02 Bought DOW @ 16408.2

This is another trade I made yesterday, testing a small program I’ve written in excel to spot possible trend reversals. The problem with betting trend-breaks is that many turn out to be “fakes” rather than breaks. To counter this I set my limit at 3 times my stop. So in the case of the DOW the fake-breaks stop out at -60 pips and the real breaks should limit out at +180 pips. The opening bell on Wall Street was 20 mins ago and so far I’m 20 pips to the good and have been above the line for most of the time between entering the trade and now. All that counts for nothing, of course, the only thing that matters is where the trade finishes. Watch this space…

Update: 16:58 10th April 2014

My Trade has been stopped out for a loss of 60 pips. As often happens the price fell sharply, took at my trade by less than 1 pip and then started to climb again. Some traders will view this as unlucky and get frustrated – not me. It shouldn’t matter how one particular trade pans out – I only risked a small fraction of my bankroll and tried to make the right decisions at the time I placed the bet. I can’t control the outcome and it doesn’t matter to me if the trade is taken out by 1/2 pip or taken out by 100 pips. I’m out of that trade and taking my time to look for other opportunities. Trading is as much a mental game as anything else.

Loss 60 pips

Trade #01 – Bought EURUSD@1.3842

I made this trade yesterday (9th April 2014) after the EURUSD spiked a little following the release of some boring minutes from the US. I jumped in hoping to follow the trend up. Note: this was before my pledge not to jump into trades and follow my plan. My stop is set 30 pips away and I will exit the trade if I gain 90 pips. As at time of writing (9:17 GMT 10th April 2014) I’m 20 pips up, so holding position for now.

Still a few pips ahead as at 14.25 GMT 10th April 2014, but it looks a bit flat. Staying with it for now as my plan involves leaving trades alone until they hit the stop or limit marks.

Update: 16:50 10th April 2014

This trade has now passed the halfway point on the road to my target of +90 (I’m +47.2 pips). I’ve now raised my stop to my entry level of 1.3842. This trade will now either breakeven or gain +90 pips, I’m free-rolling, no more of my hard earnt is at risk.

UPDATE: 08.31 11th April 2014

Sometimes prices stall at glass ceilings. In this case price is struggling to move above 1.3900 – I’m still in trade hoping for a breakthrough.

UPDATE: 17.07 GMT 11th April 2014

This trade shows no signs of breaking through 1.3900 just yet so exited trade manually for 54.5 pip profit.

Opening Remarks

[Photo credit: http://www.LendingMemo.com]

First the legal bit: I have no idea what I’m doing, I have, as of 10th April 2014, lost more money gambling on the stock market and currencies than I have won. I am not regulated to offer gambling advice in any jurisdiction – if you follow my trading tips, you too could lose. You home is at risk if you do not make the repayments.

Now the hopeful bit: Dispite my losses, I remain hopeful. From my perspective my glass is always three-quarters full. The next few trades could get me un-stuck, and from there, who knows, the sky is the limit.

And finally a pledge: From today I am not going to jump into any trade on a whim. I have a plan and by golly I’m going to follow it.