2% weeks

This week's Net % Gain/Loss: +1.20%
Net % Gain/Loss so far: +7.46%
Average Net % Gain/Loss per week so far: +3.73%

First intraday trade on gold, +0.07%. I wanted to see how soon price can move to breakeven given the 50-pip spread. I opened the short when price moved past swing hi failure on psych level. On the next candle I saw a small profit, almost breakeven, and that answered my question right there.

Took profits to take time to analyze how I can maybe make more profit trading gold intraday.

took profits off cable short--then she moved down some more! that is what you call chicken trading.

oh well. tomorrow is a new day.

opened short on gold when it formed a swing hi near resistance formed at 1009.47. Took profits when price bounced off low on recent congestion area.

short on cable price below pivot. Took profits after tokyo session opened and price went sideways.

opened long on gold as price formed a swing low off the pivot line. took profits based on signal given by greed indicator.

Week 3
This week's Net % Gain/Loss: +2.74%
Net % Gain/Loss so far: +10.20%
Average Net % Gain/Loss per week so far: +3.40%

How many years have you been trading ???

I started trading equities in the Philippines back in 1997. I then moved and traded forex exclusively starting 2004. Within 12 months, I doubled my account twice. Within a few weeks, I busted my account. After funding my account a second time, I got another margin call within a few months.

I then got a position trading with swifttrade.com in manila (2006-2007) where we traded US equities. The time frame that we were scalping was m1. A few months later, that branch closed.

In 2008, I got back to trading forex again after I moved my family to New Zealand. Hopefully, I have my groove back and a better trader today than I was before. I started this thread to keep myself in the straight and narrow.

Thanks for asking.

price was showing weakness off previous day's high, so i went short. Price then went sideways holding up and around that level. I took a loss and reversed the position going long. Took profits when price stalled in the area between R1 and h3.

Almost breakeven on this trade.

opened cable long on price bouncing off open price; taking profits as it neared yesterday's high. Tokyo is on bank holiday, market may be choppy until london opens.

stopped out -10pips. entry was made when price made swing high off day's open price, below daily pivot.

opened long on retrace towards day's open price--stopped out -13pips.

Do you always put the Stop Loss 10-15 pips below the entrance point?

from a high of $131.01 a few days back, the account is down 4.64%. i paid tuition and learned a lot yesterday--hopefully this will help me be a better trader from here on.

it depends. sometimes my stops are as low as 5-pips away and at times as far as 30-pips away. It depends on how volatile the market is. My stops are always dependent on the 2% risk, not looking at number of pips--sometimes.

For me it's not the number of pips, but the % of capital at risk per trade.

Week 4 net % Profit/Loss: -0.64%
Net % P/L to-date: +9.56%
Average weekly % P/L: +2.39%

well done, kyuzo!

opened long position when cable bounced off s2. target at s1 hit.