Ro's quest for improvment

"This thread is comments and judgments welcome. If you don't like how I trade, tell me! Be however rude you want to be, but please, when you are done swearing, tell me the reasons why you don't agree. I don't mind rude comments as long as you provide the logic and reasoning to the disagreement. The losers who lurk around giving negative comments to everyone will not be welcomed here. (Highly unlikely, we have the Magic Man keeping this place good and clean)"

For those friendly foes, I intend to keep and share my trade records here. The intention is to learn, improve and share my trading. I have been lurking around FF, picking up gold nuggets for a while and now I decided to share what I have learned from FF.

I am a young kid who tried to start a international trading business in UK a while ago and failed. After the failure, I went home to HK, and went into a very small security brokerage firm as a sales person.

Unlike the brokerage firms in the US or Europe, the brokerage firm here don't provide you with ANY training. We have the local news channel on the wall, and it is pretty much the only thing people analysis in there. The people who works there comes from all sorts of background. Failed bankers, the unemployed, failed small business man (just like myself) and even failed chefs!!

While I was in the brokerage firm, I got in touch with the charts. Ever since then I have not have a single day without the chart. But due to the nature of the amount of "NEWS ANALYSIS" in the office, I was called "the gambler", the "boy who was too bored".

I wanna prove them wrong. I wanna be out of that circle. I am too young to be stuck in that environment where I live off sending clients to go into the market and die hard, while borrowing as much margin as possible.

I found forex a while ago when I was looking to expand my trading time. Then I found FF.

FF have helped me along the way. It was the only training I had. Although the masters in FF wouldn't consider me as their students, I consider everyone of them my mentor.Special thanks to those masters who made my trading possible. Both, in terms of mindsets and skills.

Everything I do came from their generosity with their knowledge and effort. Its a shame many of them are not around the forum anymore.

Here are my trades... Questions welcome. Disagreements? Even better.

Here are the trades I took last night. I will post the charts with the logic later.

Short USD/CHF: 1.0750 - SL 1.0780, -30pips (This was the worst SL ever! Reverse at 1.0781!!!!!)

Long EUR/USD: 1.3614 - TP 1.3637, +23pips

Short AUD/USD: 0.8886 - Quit 0.8895, -9pips (After the loss, I went impulsive. I calmed myslef down and exit with small loss.)

Long USD/CAD: 1.0483 - TP 1.0514, +31pips

Last night results: 15pips

Time to plan for a better night. Everything seems in range today. Lets see after the news.

Everything is still in range. No trade for the past 3 days.

Again, I see not set ups... No set ups, no trade... Time to play some poker or watch TV...

Lets hope this week provides more set ups.

I am waiting for the breakout of 1.3653. I will enter a buy if the price breaks by 5+ pips.

Took the trade (buy) at 1.3666.

Took a stop of 26pips...

-26pips for the week so far

I suck. Demo more before I come back to this

How are you doing ?

Hey Intensity. I am still alive. I have been demoing for some time to gain disapline and confidence for myself. Next week I will start live again. This time I will trade based on the sytle FTI have taught us.

Regards

Thanks for the update esuffw ! What were the results of your recent demo trial ?
And what's FTI ?

This is FTI:

http://www.forexfactory.com/showthread.php?t=57639

Demo is +120%, 1:100 leveage applied, 6 months.

Dance Strategy:

Arpil 29th - May 7th 2010: +403pips

My style is way too complex and I dont wanna put up charts bcos I traded over 100 times. But I strongly suggest going to FTI's TAF thread. You can learn your very own style from there.

May 10th - May 14th

+433 pips

This week have been very tough. Have been through some bad rescure.

However, the moves are much bigger then last week. I have lowered my position sizing to aviod over exposure of risk.

May 17th - May 21st

+555 pips

I have stayed short for the whole week. Only been able to trade Asian + UK market times. Have been through a few bad rescures from the mini rallies of the market. Made a killing on Thursday which made great results.

Should try to attack more swiftly. Attacks turned into rescures which is very bad.

What a disappointment for the first month. My inner self suffered from over exposure of positions. My mindset clasped and I had 2 times to rescue my troops, yet I failed to bring them back to camp.

My final DD for this month is now - 5 pips. All pips gained were lost on the last three days when I lacked the attention to risk. Next month, I will start with lower exposure. In fact half of what I was trading this month.

Preservation of capitol is number 1 priority

May 2010 : -5 pips

I am really sorry for your losses. Could you elaborate on what were the market & psychological conditions when you had those losing trades ?

Thanks for sharing your journal, it's a great effort and I appreciate it.