Swordofrue's Day Trading Results

[swordofrue]

Hello everyone,

To help better my trading I am going to make some what of a log. I will be posting my entries and my exists and posting a link to a picture of the trade. I will not directly post the images into the forums because of resolution restrictions and I just think images in forum posts do not typically mesh well.

Thanks for reading and enjoy,
--Swordofrue

###Summary of Results###
Week of July 16th 2007 -- +83 pips +4.32%
http://home.natefico.com/week1.gif
Week of July 23th 2007 -- +219 pips +10.58%
http://home.natefico.com/week2.gif
Week of July 29th 2007 -- -83 pips -3.44%

Total Equity Increase +11.5%

[swordofrue]

The start of the week was kind of slow. I was thinking all weekend of my trading strategy since I just recently got back into the game. So I came up with something and when Monday rolled around I slept in and missed London. However, the day was slow and I didn't miss anything. So now came Tuesday and I was trying to short the EUR/JPY and it just kept ranging on me so when all was said and done I had -.5 pips from trying to short EUR/JPY. While I was trying to short EUR/JPY I got an entry for long Cable and I took it. When I locked in 50 pips I went to bed and got up during mid New York and closed it out for 101 pips.

My goal is 100 pips a week. So anything more this week will just be icing on the cake and compensation for future slow or bad weeks. Off to a great start this week, I am going to get some icing for my cake and eat it too!

Here is a link to the Cable trade:
http://home.natefico.com/trade1w1.gif

[Benjimang]

G'day swordofrue, welcome back to the game!

Any chance of you providing system details? My goal is also 100 pips per week. So far I'm trading one system that is providing me somewhere near my targets, but my results are very volatile. Any help would be appreciated.

-Benjimang

[N8s]

would you give me a brief on "the cable"? I'm newer to forex and have seen that term used a lot. Is it a trading style, a certain session/pair or what.
Thanks!

[RoddyPipper]

Originally Posted by N8s

would you give me a brief on "the cable"? I'm newer to forex and have seen that term used a lot. Is it a trading style, a certain session/pair or what.
Thanks!

Cable refers to the GBP. A nickname it earned in the 1800's when a transatlantic cable transmitted the currency rates between the London and New York exchanges.

Babypips school has a list of all the currency nicknames here.

[swordofrue]

Week #1 Trade #2

This week I have been trying to short EJ. First time was yesterday but I ended up with just -.5 pips after the whole ordeal. So I didn't include in a trade because it really didn't go anywhere. However, this time around I lost 19 pips on two positions. First a short then a long. I lost really because there was lack in movement in any direction. And I was forcing my entry signal when I really didn't have a good signal.

The short was at 168.07 and closed for -15
The long was at 168.23 and closed for -4

So overall it could of been a lot worst and it could of been a lot better. It would of been best if I just not tried to force it. After all I already made my weekly goal of 70-100 pips.

So I won't force a trade and hopefully ill get a trade this week, but how things are looking, I am doubting that. However, it should prove for an interesting next week!

http://home.natefico.com/trade2w1.gif

[swordofrue]

Today has been a rather slow day. Not much excitement until the near end of London session. Cable started to creep down. I have yet to take any trades and do not expect to take any trades until probably early next week. However, if something comes up during New York or during London tomorrow ill be sure to let ya in on it

[Tess]

So, I guess we'll be witnessing one or two looooooonger trade duration positions in the coming weeks, judging by the chat comments earlier?!

[swordofrue]

Indeed, but who knows when ill actually get into the market. It may be awhile. I might get no action next week

[swordofrue]

I have had a rough week in my personal life so I haven't been posting a lot. However I have been slightly trading and of course I didn't miss the great short cable! I have been waiting since last week for this move.

However, my first trade was long and then short on EUR/CAD and after all is said and done I was down -20 pips.

http://home.natefico.com/trade1w2.gif

Then I made a short EUR and made up the -20 so then I was break even going into the end of the week.

http://home.natefico.com/trade2w2.gif

Then on Friday pre london I saw a short opportunity with short Cable and I took it and closed it out for 200 pips before the end of the New York session.

http://home.natefico.com/trade3.w2.gif