Apologies for not updating this thread or the blog been a tad busy
Still plugging away with this SAM strategy for the Charity account though haven't dedicated as much time to the account as I would like, donated some %'s of my own account trades though as well.
With the SAM strategy on the Charity account its now up to nearly a grand in profit, fx book has it down at just over 91% growth. Did 27% in June and am at 13% for July so far with a few trades, couple of weeks to go till the end of the month so should be good for around 20% + if i can squeeze in some trades. Only set the strategy at 10% target per month so going okay.
Did take a big hit mid June as you can probarbly see by the graph - to cut a long story short was in a trade overnight on Cable quite nicely in profit come the morning, just shy of my target.
Anyway decided to close out just short as the level was holding slightly higher than I had down....so log into Oanda to close it and couldnt log in!
Tried my I phone as well no luck, got on the live help thing ...was told they were having tech probs - instructed them to close the trade and they said email!! with the price. Did that and an hour later the trade is still open, still cant log in profit gone, now running a loss!
Got back on live chat by this time - about 2 hrs later!! I could log in, told me to close the trades and give them the price, they honoured the price I was originally given which was good but had to authorise a credit for my account. this went to my primary not the Sam account so had to transfer it over.
Deposits minus withdrawls still equals £750 but the accounts registered a loss that should have gone on as profit and a deposit. fxbook stats are a bit off therefore, % should be over 100. Not too bothered as all was well in the end but what a pain in the a**.
I'll post up some trades soon, probarbly some off my own account as well.
A quick update on the charity account from this week, still have a trade running which I expect I'll close tomorrow, but below is one trade this week on cable - a long @ 1.5200. Break of resistance, close above on the hourly and entry on the pullback scaled in. I'll post up another on GBPCHF which I took on my own account and donated a %.
Growth on the charity account now 106%. Ammount raised for Plan Int at £2654.37.
Below is the trade I took on my own account on GBPCHF of which I've donated a percentage to Plan International. A long @ 1.5830 off prior support, a good few months since it last hit the level, quite clean on the daily for this pair. In the coming weeks 1.6300 should provide some resistance if its reached and some trading opportunities. Be deciding on whether to trade the level when price is nearer.
In terms of the week on the charity account all trades are now closed, 122% growth overall since May, £1446.29 profit, currently circa 43% for July. I'll try and dedicate some more time to the account before the end of the month as August is approaching, probarbly my most hated month for trading/performance usually best for me to go on holiday or do something else.
In terms of an update, below are some trades taken on the charity account this month. All are in fact non SAM trades, instead just good old discretionary trades off some decent levels.
The reason for them not being SAM trades I'll explain later as I'm off out in a bit, will post the usual stats for this month as well.
Thought be better to post some charts bit more informative and useful perhaps and I promised to do that last month!
In terms of the returns on the charity account this month its just shy of 15% so far, total now raised for Plan £3330.02, growth overall 150%.
The month in terms of the S.A.M strategy was rather torrid to say the least, was chugging along quite nicely towards the beginning of the month then endured some nasty drawdown.
Kind of a reminder to myself why I hate system/mechanical trading I suppose!, without the element of discretion you will encounter some problems. So far with this strategy I've pretty much pulled the trigger upon the signal, fired and forgotten. However with the drawdown glaring me in the face - a high of £2570 to £1940 within 48hrs I decided to intervene.
I supsended the S.A.M system and traded the account pretty much as I would my own, no use of systems, just trading levels with the view of a swing trade or scalp depending upon the level. There are a few other elements to it but its pretty straightforward.
Anyway went on a bit of a run and made around 40% the last week or so, in pips 450 odd, £600 appx return. I'm actually really pleased with this as August for me is my most hated month for trading, and I stayed quite firmly within my risk parameters.
In terms of the S.A.M strategy moving forward It will be used again, just I need to spend some time on looking at certain factors, it needs a tweak.Its bank holiday a week on Monday so I'll be going away for a bit next week so I most likely be trading the account again in September.
MyFX bits below the first chart and stats are of the overall month, the second chart and stats outline the details of the 13th to the 20th utilising discretionary trading. Final balance on Oanda as well.
It is a pleasure to follow this thread from both a learning trading point of few and also from a philosophical and moral point of view. Also good to see someone actually posting the most important chart of all - account growth.
Raising money for charity is such a great idea and also the result of hard work for the benefit of those in need. It would be great if people build this into their trading plans as you have. As traders, karma, kindness or what ever you want to call has to be good for the old psychology too.
Managed to squeeze in some more trades on the Charity account the back end of August either side of my short break.
Haven't had the time to work on developing the SAM strategy so all trades have been discretionary. Finished August at just over 21% (thank god that months over!) and am running at 4% for September. Ammount now raised for Plan International £3467.83 (including the other £750) overall growth 160%.
Will post up two trades later from this past period one on GJ and one on Cable with the reasoning, and also of a level I may look to trade on GBP/CHF in the coming days. FX book bits below.
I puchased www.tradingforcharity2010.com and will be pushing a charity trade off this coming holiday season. It will be quite a small scale, trading a $10k account for only four weeks but I hope it will generate interest for a larger momement come holiday season 2011, may possibly expand outside of the holiday season, etc.
Below are 2 of the trades on the account from the end of August.
First up Cable and a play of the 38% retracement of the Daily, cross divergence also - hidden daily (indicator and price in agreement prior to its formation, important nuance for the way I look at div) and regular on the 4hr. The other factor was the time of day, hit the level late in the day, volume tailing off and I was of the view the asian session wouldnt run it lower, more likely to take some kind of bounce.
Secondly GJ as a bottom pick support level was quite pleased with this one, v small risk utilised a lower tf chart for this entry , the major factor in this for me was the run in to last weeks low..... but coming off a ridiculous parabolic move even by GJ standards, circa 500 pips in 24 hrs, with this staring at you your mind thinks no, but these parabolic moves are often worth facing down.
This is the level I may consider trading next few days if price gets there, circa 1.5830 short GBPCHF, ties in well with the 61.8 retracement from the swing point prior to instigation of the current move. The level has been strong as support over quite a few months, will consider taking the the actual trade when price approaches - lower tf charts etc. Likely scale in on this circa a 20 point zone.
Sunday...Watching crap tv, yawning at a couple of gap trades with reasonable Oanda spreads of 10 +!! at the moment lol, basically wating till midnight UK time to re look at these trades when spreads "normalize".
Not knocking Oanda though, spreads are v competitive and besides the logging in incident for this account the broker has been great.
Finding it hard to fit in this account alongside my own without using this SAM strategy, but remind myself why I'm doing this and its keeps me going, getting up at the crack of dawn in a few hours to trade my own account, need some zzz's.
Updates since my last post, not much really.... ground my way up to around 10% for September which is okay and took a cheeky short circa the level I mentioned on GBP/CHF.
Put in an order after NFP at 1.5800 and managed a pretty quick 50 quid on the charity account, because of this resistance at 1.5800 (which could be expected, close,whole number) I'll probarbly revise entry on the short between 1.5830/ 1.5850 or not at all - 1.58 could be it. As ever lower tf and other factors will be the decider.