Gordon Gekko's real-time Forex trading calls

Hoffi - is rr part of your trading strategy? Looks like 3:1

It is part of it, sure. But I try to close parts of the position as I did with the AUDCAD trade (+7 close half of the position).
In 45 min red news are coming for CAD.
I try to close the postion at BE

Too bad I exited that long EUR/NZD position prematurely, I could have made almost 200 pips just by holding and liquidating the trade the next day, at 11:45 PM (as I usually do when position is winning and not touching trailing stop) .

The problem with this approach is that the trader loses twice as much when the price hits his stop and never reaches his initial first target.

I also try to liquidate 50% of my position after X number of pips but only if I am convinced that the trade could reverse on me at anytime (when the price is about to hit some nearby resistance for example).

this one is very informative! thanks for that.

You are welcome.

Bought AUD/JPY at 93.30, 33 pip stop.

Bought USD/CAD at 1.2495, 26 pip stop.

Moving stop to breakeven.

long nu 7567 sl 30 tp 100

Buying GBP/JPY at 177.50, 51 pip stop.

Uh-oh, shooting star on the 5 and 15 min charts...

If my calculations are correct, the high of the day has not been reached yet, as far as the GBP/JPY is concerned.

Reducing stop to 30 pips. GBP/JPY is still trying to break through the 177.50 resistance.

Stopped out. Those shooting stars were deadly.

A lousy week, indeed.

I just found out that one of the parameters I am using was accidentally set to 52, instead of 25.
No wonder I keep getting those weird results!!

The parameter has now be reset to the correct value and hopefully everything will be back to normal next week.

(Lousy) trading results for this week will follow shortly.

Another missed opportunity. I would have made over 100 pips but no, due to wrong parameter setting this trade was exited prematurely at break-even.
If we add the other missed opportunity on the EUR/NZD trade (also exited prematurely), the total unrealized profit is close to 300 pips on those two trades alone.

Whatever.

Trading results for week ending March 27, 2015

Short GBP/JPY at 178.58 (limit order), 35 pip stop. Out at 178.83: -25 pips
Buying GBP/USD at 1.4929, 33 pip stop: - 33 pips
Shorting EUR/USD at 1.0947, 26 pip stop: break-even.
Buying EUR/NZD at 1.4295, 28 pip stop. Out at 1.4280: -15 pips
Buying EUR/NZD at 1.4290, 41 pip stop. Closing position at 1.4292: +2 pips
Short GBP/NZD at 1.9460, 30 pip stop: -30 pips
Long GBP/CAD at 1.8640 (limit order), 39 pip stop. Out at 1.8620: -20 pips
Bought AUD/JPY at 93.30, 33 pip stop: -33 pips
Bought USD/CAD at 1.2495, 26 pip stop: break-even
Buying GBP/JPY at 177.50, 51 pip stop. Reducing stop to 30 pips: -30 pips

As you can see, setting just one trading parameter to the wrong value could completely ruin an otherwise profitable system.

Anyway, total for this week: -184 pips
Total since beginning: -131 pips.

The most important thing is to keep losses small and manageable. Managing/dealing-with losses and NEVER letting any single loss get out of control is what trading is all about. A 400 pip loss always starts with a 40 pip loss.

Not much to look forward to this Sunday evening, except perhaps the JPY Industrial Production report, due in 50 minutes (7:50 PM, NY time).

au long 7732 sl 30 to 100

Hi Goldfinger,

Care to share your exact total profit/loss since you started posting on this thread?

After all, this is what this thread is all about, making very specific, live, real-time Forex calls and posting the trading results each week (or month).

Thank you for your participation.