Goal: Double account balance every month?!

EUR/USD
Short @ 1.2562
Results:

+16 @ 10000 units
+55 @ 4000 units

New balance: $754.46
Total P/L: +$204.46

EUR/CHF
Short @ 1.5616
Results:

-11 pips @ 10000 units
-11 pips @ 4000 units

New balance: $742.03
Total P/L: +$192.03

I always thought Oanda bumped up the spreads at 4pm for the weekend.. looks like they did it at 3:45 today. I guess I will be holding this trade for the weekend after all.

**edit: closed at 1.5527

A much better week than last. Other than the huge loss I took early in the week, I'm pretty happy with my performance. We all make mistakes and I'm sure it wont be the last.. I just have to remember to stick to the plan, stick to my rules and the losses wont get out of control. I still seem to be closing my first positions a bit too early, but I think that was a good thing this week because of the ranging days early on. Next week I'll try to let them go a bit longer. My goal is to double the account every 30-40 days, that gives me 2 more weeks to do so. I think I'm on track.


Results for June 18 - 23 :
+ 253 pips
+ $129.74


New account balance: $754.46
Total P/L: +$204.46

keep up the good work....you seem to be on a very good track of success!!!!!!!!

EUR/CHF
Long @ 1.5635
Results:

+11 pips @ 10000 units
-1 @ 4000 units

New balance: $750.61
Total P/L: +$200.62

Looks like its going to make another run at the highs from the beginning of June. There lots of resistance up here, will it get through?

**edit: Stopped out at 1.5634

EUR/USD
Re-entry
Long @ 1.2587 4000 units
Long @ 1.2579 1000 units

Results:

+8 pips @ 4000 units
+20 pips @ 1000 units

New balance: $757.01
Total P/L: +$207.02

I haven't made any notible trades this weeks.. Got into a couple but got out at break even. Made a few bucks on the FOMC statement today, but I wont be adding that to the balance in this journal because it had nothing to do with my system. Also, to keep things fair, I won't be increasing the lot sizes until the balance on the journal is doubled, not the actual account balance.

After some more back testing and some forward testing, I've decided to trade more pairs using this system. Because of the account leverage I'll still only be able to have 2 active trades going at a time but I won't have to constantly be watching eur/chf and eur/usd waiting for trades to set up. I will now be trading most of the majors and pretty much anything I think is worth while at the time. I might also make the occassional gold trade.

EUR/JPY

Long @ 146.04 10000 units
Long @ 146.04 4000 units

Results:

-25 pips @ 10000 units
-25 pips @ 4000 units

New balance: $726.51
Total P/L: +$176.52

EUR/JPY

Long @ 146.04 10000 units
Long @ 146.04 4000 units

Results:

+11 pips @ 10000 units
+19 pips @ 4000 units

New balance: $742.73
Total P/L: +$192.74

That looked more accurate. Well done.

Currently short on EUR/CHF at 1.5649.. price is now at 1.5636 but the spreads have gone up from 2 pips to 10 pips for the weekend so once again I'll be holding this trade.

What looked more accurate? Something with the eur/jpy trades?

Isn't post #48 an error? Trades in post #48 and #49 are long eur/jpy from 146.04. Was just wondering...

Well it was an error in the sense that I lost , but I did go long at that price only to get out at -25 (there was support under that but I wasn't taking the chance of holding it) before it came up again at which point I entered long again at the same price.

Ahh.... sorry, now I got it.

Good luck next week.

GBP/USD

Long @ 1.8456 10000 units
Long @ 1.8456 4000 units

Results:

+9 pips @ 10000 units
+0 @ 4000 units

New balance: $751.73
Total P/L: +$201.74


sidenote: previous eur/chf trade stopped out at breakeven

EUR/CHF

Short @ 1.5663 10000 units
Short @ 1.5663 4000 units

Results:

+10 pips @ 10000 units
open @ 4000 units

New balance:
Total P/L:

EUR/USD

Short @ 1.2788 10000 units
Short @ 1.2788 4000 units

Results:

+9 pips @ 10000 units
open @ 4000 units

New balance:
Total P/L:

what EMAs are you using? One of them look like EMA 190

I haven't been updating this journal lately but the account has hit $1192 as of July 7th. I'm finding this method a bit too time consuming for me right now so I'm not going to continue trading this system for a while. It's the summer and the last thing I want to do is stare at 15 minute charts all day and night. I'm still very confident that I can double the balance every 30-40 days as planned using this method but for the next few months I will be switching to my 4hr/daily combo system to grow the account, which I've made into a new car fund . If all goes as planned I'll have a nice Christmas present for myself .

I will continue updating this journal as I enter trades, or a few hours after the position is taken. I will probably be entering 2-3 trades a week.