Tuesday 30 October 2007

Back to Square One

Closed long USD/JPY for -4 pips. Lame price action again.

Just over 1 week of testing, I am getting nowhere with the system 'yet'. The system had given back all of its gain last week, mostly due to the GBP/USD trades.

It is important to note that my current strategy is solely based on the H1 (hourly) entry on the five major markets. I have yet to try the longer time frames (such as H4 and daily), and possibly other markets?

Trade no.: 15
Pips lost: -4
Accumulated pips: 0
P/L: -$32.25
Total P/L: $1.51


Monday 29 October 2007

Done for the day -18 pips

Closed long USD/JPY at 114.60. Waiting a better opportunity tomorrow.

Trade no.: 14
Pips lost: -18
Accumulated pips: +4
P/L: -$143.44
Total P/L: $33.76

Saturday 27 October 2007

Week 1 Trading Summary



Done for the day:
Trade no.: 11, 12, 13
Pips lost: -44
Accumulated pips: +22
P/L: -$442.47
Total P/L: $177.20

For myself, the system has so far produced the most erratic results with the GBP/USD currency pair. Here is the statistic for this week:

Total accumulated pips for the week:+22 pips
Total accumulated pips (if excluding GBP/USD): +173 pips
System win-rate: 53.8%
Pips breakdown/ win-rate/no. of trades taken:
USD/CAD +105 pips / 75% / 4
USD/JPY + 64 pips /100% /2
USD/CHF +4 pips /50% /4
GBP/USD -151 pips/ 0% /3

Here is an overview of Friday's price action on the 5-min charts.


Thursday 25 October 2007

Trading Results

The first signal was a botched trade.
The second & third signals were there to be taken. But, it took me quite some time (around 1-2 hours late) before finally accepting its decisions. It's purely my fault, as I tried to outguess the system earlier.

As a result, I entered 'late' on those signals, with a reduced profit target of 50-pip. On hindsight, it was too much of asking, as the prices already moved 20-30 pips in favour of the signals' direction. And still, there were +30 pips to be made on each of my position. I didn't take the profits. The rest was history.


* I accidentally closed out the USD/CAD position, and so the reopening of a second position.

Done for the day
Trade no.: 8, 9, 10
Pips lost: -73
Accumulated pips: +66
P/L: -$718.89
Total P/L: $619.67
'My' win rate: 50%

Controlled Risks

Moved USD/CHF SL @ 1.1682

Moved USD/CAD SL @ 0.9656

Morning Review

Since the first GBP/USD trade is a loser, I am pushing the system for its second and third trades of the day. But I am quite late on those entries, let see how they pan out.

Sell USD/CHF @ 1.1672
SL 1.1722
TP 1.1622

Sell USD/CAD @ 0.9646
SL 0.9696
TP 0.9596

Earlier,
Closed GBP/USD @ 2.0520

Trade no.: 8
Pips lost: -51
Accumulated pips: +88
P/L: -$509
Total P/L: $829.56
System win rate: 62%

Sell GBP/USD @ 2.0469

SL 2.0519
TP 2.0389

Wednesday 24 October 2007

Done for the day -47 pips

Final trade of the day:
Closed USD/JPY @ 113.89

Trade no.: 7
Pips earned: +54
Accumulated pips: +139
P/L: $474.14
Total P/L: $1338.56
System win rate: 71%



The system generated a lot of sell signals the whole day long before USD/JPY price finally tumbled in the late European session.

Overall, hard luck for today! It just happened that the early short USD/CHF position was being 'unfairly' stopped out by just a 2-pip margin, before the price finally resumed its original downward course.

Sigh...welcome to real FOREX world!

Stopped Out GBP/USD @ 2.0500

Sell GBP/USD @ 2.0450
SL 2.0500
Tp 2.0370

No. of trade: 6
Pips lost: -50
Accumulated pips: +85
P/L: -$504
Total P/L: $864.42
System win rate: 60%

In light of difficult trading conditions, the system endured its second trading losses of the day earlier.

Move USD/JPY SL @ 114.53

Earlier,
Sell USD/JPY @ 114.43
SL 114.93
TP 113.63

Justification: Controlled risks in light of difficult market conditions.

Stopped Out USD/CHF @ 1.1776

Earlier,
Sell USD/CHF @ 1.1725
SL 1.1775
TP 1.1645

No. of trade: 5
Pips lost: -51
Accumulated pips: +135
P/L: -$429.69
Total P/L: $1368.42
System win rate: 80%



Note: This signal arrived earlier than normal in a quiet Moscow session.

Tuesday 23 October 2007

Done for the day +87 pips

Stopped Out USD/JPY @ 114.69

My worries come true. This market has been tricky the whole morning. Nevermind, a profit is a profit.

Pips earned: +10
Accumulated pips: +186
P/L: $87.19
Total P/L: $1798.11

Closed USD/CAD @ 0.9658

Earlier, a booked profit of +77 pips. Another stellar performance.

Pips earned: +77
Accumulated pips: +176
P/L: $798.31
Total P/L: $1710.92

Move USD/JPY SL @ 114.69

To gurantee 10-pip profit the least.

Sell USD/CAD @ 0.9735

SL 0.9785
TP 0.9655

Shame. Anyone took the GBP/USD trigger? It is not in my trading book and it did well again.

Buy USD/JPY @ 114.59

SL 114.09
TP 115.39

Monday 22 October 2007

Closed USD/CAD @ 0.9803

Start to lose momentum. This price is good enough for me.

Pips earned: +39
Accumulated pips: +99
P/L: $397.84
Total P/L: $912.61

Closed USD/CHF @ 1.1733

Bingo!

However, due to my late entry on this position, I decided to close it for +60 pips here.

Pips earned: +60
Accumulated pips: +60
P/L: $514.77



Updated: My mistake. Current price stands at 1.1760, we can easily fetch the initial 80-pip price target !!!

Buy USD/CHF @ 1.1673

SL 1.1623
TP 1.1753

I am slightly slow on this entry (out by 10 pips) . Hope you get a better one.

Buy USD/CAD @ 0.9764

SL 0.9714
TP 0.9844

Saturday 20 October 2007

Forex Killer Testing Ground & Progress Timeline

Site Goals

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For soon-to-be-owners, the application of this signal software is straightforward. Please don't hesitate to send me e-mail for any forex killer and trading related queries. Besides the forex killer support helpline, I will be happy to help you out.

Progress Timeline

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All in all, becoming consistently profitable in many months to come is going to be my main target. Check back here often for more trading related contents and tips.

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