There seems to be a general up trend, I think prices have retraced a bit and now ready to move upwards again.
Stop loss is red line (46 pips), Take profit is green line (65 pips), reward to risk ratio is 1.4:1, risk is 0.75% as the stop loss is less than 50 pips. I’m not really confident with the stop loss number of pips that’s why the risk is reduced.
I forgot to update this trade.
This trade met a stop loss, giving me a fund of -1%.
I forgot to update this trade. This trade met a stop loss, giving me a fund of -1%.
I keep on forgetting to update some trades. I guess I’ll just need to make a summary of my trades in the coming days to update how am I doing. I’m planning on making a monthly summary (month of April and May).
There seems to be a general uptrend. Looking at the weekly, there seems to be a resistance at the yellow line. I was thinking before prices meets that resistance, it will continue to go up.
take profit is green line (64 pips), stop loss is red line (46 pips), reward to risk ratio of 1.4:1, risk is 0.75% as the stop loss is not greater than 50 pips.
But I got worried that prices starts to move against me, so I closed manually 5 pips away from my take profit, gaining me 60 pips, and it gave me 0.98% of funds.
There seems to be a general up trend as specified by the blue line. Although there was a point when that support (blue line) was broken. But I thought even if it was broken, prices will still retrace upwards before proceeding downwards. And prices really did that.
Stop loss is red line (61 pips), take profit is green line (75 pips), reward to risk ratio is 1.23:1, risk is 1%.
Here is my trade 16 for the month of May, a buy on EURNZD.
There seems to be a general uptrend. There seems to be a resistance at the dashed blue line basing it from the recent weekly high. I was thinking prices will continue to move towards that resistance.
Stop loss is red line (109 pips), take profit is green line (176 pips), reward to risk ratio is 1.6:1, risk is 1%.
whoohoo! this trade hit its take profit! I was right with my guess that prices will move towards that resistance before deciding to move down. This trade gave me 1.5% of funds.
Here is a summary of my performance for the past months.
My biggest loss was February at -8.56%. At this time I had no “real” trading plan. I have strictly implemented my trading plan late March up until now.
Late April, I started making trades based on trends, and I guess it’s working for me. I’m now risking 1% of my total funds.
My gain so far for the month of May is 3.67%, as of May 29, 2013. I’m hoping this upward trend of my funds will continue on.
There was a downward trend, and I thought the trend will continue downwards, considering it already went past the channel. I was hoping I could get something from the trend.
Stochastics was saying overbought, and MACD was showing signs of downward movement. But prices moved against me. At first it moved towards my take profit, but then, everything went fast, opposite to where I want it to be.
Take profit was green line, stop loss was red line, entry was below the previous weekly low (at the yellow dashed line).
It met a stop loss at the red line (indicated by the small circle). This trade gave me -0.94%, subtracting from the monthly gain, in the end I got +4.29% of gains for the month of May.
Here is my first trade for the Month of June, a sell on AUDCHF.
reward to risk ratio is initially 1.04:1. After gaining around 50 pips, I moved the stop loss at entry, then moved the take profit further from the previous low.
stop loss is red line (82 pips), take profit is green line (85 pips).
EDIT:
After gaining around 50+pips, I moved the take profit and stop loss as seen in the following image (stop loss is red line, take profit is green line):
I have met a couple of loosing trades (2 so far, as of this writing). And that brought down my account balance to [B]-2.75%[/B]. I still have a few trades going on, and probably I can post them tonight, together with the loosing trades.
Oh yeah, one more thing… I need to mention that nisar and stonecoldmichael have played an important role in the improvement of my recent trades. I can’t thank you enough guys for patiently sharing your ideas with me.
For the month of June, i have made 16 trades, 8 of which are winning trades, I manually closed 3, and the remaining 5 are loosing trades with a loss of 1% from my funds each.
For the month of June I managed to get a total gain of[B] 6.27 %[/B].