Road to Recovery.....

This definitely sounds better!

Hi All,

After taking nearly 2 months off to re-exam what I am doing, I am ready to get back to trading. I have a mini account that was set up a couple months before and now has a balance of $1,922.40. I am ready to try a high risk, high reward trading style with this account. I am trading conservatively with my bigger account with good money management. I have recovered some of my losts but am still chipping at it. I want to keep a journal here with this agaggressive account. I am recording this journal here as a way to keep me discipline and not deviate from my plan. I will not discuss about my trading strategy nor encourage anyone to follow my trades. I know this will be an crazy ride but I plan on riding it to the top. Wish me luck fellas!!!

I made four trade since Sunday nite.

Sell GBP/JPY at 134.90 got stopped out at 135.87 for - $212.02
Sell EUR/USD at 1.2943 got stopped out at 1.3045 -$204.00
Sell GBP/JPY at 134.34 closed at 134.27 for + $15.32
Sell GBP/Jpy at 134.79 closed at 134.21 for + $126.93

Total loss 2/9/09 is - $273.77
Actual starting balance was is $1,920.44
Balance as of 2/9/09 is $1,920.44 - $273.77 = $1,646.67

As for the two losing trade.... I was actually up almost 100 pips on the GBP/JPY trade but forgot to move S/L to breakeven. The same with the EUR/USD.... was up around 50 pips.

I usually go in a trade with a 150 S/L and move it to breakeven after 100 pips or use a 150 trailing stop... depends how fast the market is moving for the GBP/JPY.
With the EUR/USD.... I use a 100 S/L and move it to breakeven after 50 pips.

It's not a good start so far, but I will keep on trading.

I took 3 trade on Tuesday (2/10/09) .... all winners.

Sold GBP/JPY at 135.53 closed at 134.88 for gain of $142.57
Sold EUR/USD at 1.2968 closed at 1.2899 for gain of $138.00
Sold GBP/JPY at 132.29 closed at 131.41 for gain of $194.69

Total gain on 2/10/09 is $475.26
Balance now is $2,121.93

I am still in a trade.... short EUR/USD at 1.2879.

Its good to see you are still in it. Good luck and hope to see you posting for many years ahead

All I can say is ...

Thanks Henfer for you support.

I closed the EUR/USD (Short at 1.2879) at at 1.2830 for gain of $98.

I took 5 trades on Thrusday....
Short EUR/USD at 1.2890 closed at 1.2822 for gain of $136.00
Short GBP/JPY at 129.86 closed at 130.31 for lost of $98.89
Long GBP/JPY at 130.48 closed at 130.88 for gain of $87.86
Long GBP/USD at 1.4344 closed at 1.4501 for gain of $314.00

Still have an open trade on EUR/USD short at 1.2831.

Total gain for Thursday is $438.97.
Total balance as of now is $2,643.22.

I will try to close out the open position before the market close. I do not want to carry it over the weekend. Too much volatility.

So far .... not a bad week. I am only trading with .2 lots on every order and a maximum of 150 S/L. I will increase the lots size once the account grows bigger.

I say I was going to close the open position (short EUR/USD) but did not because I forgot to. Anyway, luckily for me.... it gap down about 130 pips when the market re-opened. I am still holding the position.

I have finally closed the short position from last week ...
short EUR/USD at 1.2831 closed at 1.2576 for gain of $510.00

I made several trade since Monday morning....
long GBP/JPY at 131.35 closed at 129.75 for a lost of $349.08
long GBP/JPY at 131.31 closed at 131.83 for gain of $64.90

Balance as of 2/16/09 is $2,862.32.

I still have an open position...
short GBP/JPY at 132.07