Tuesday: 15/12/2009
Pips gained: +7.7 pips

Hmm hmmm…. I chickened out because it went further down and I would have made over 30 pips….. Well…. What can I say?

Capital: $4993.70
3% of bank risked: $149.811

1st Trade (Aud/Usd) Long: Limit +23 pips
Stop -19.4 pips
Pips loosed: -19.4
Analysis: Although the market was oversold, I did not wait for the MACD lines cross or at least narrow before taking a long position.

2nd Trade (Usd/Chf) Short: Limit +50.3 pips
Stop -27.4 pips
Pips loosed: -27.4
Analysis: Same as above (Vice-Versa) – though the Market was overbought, I did not wait for the MACD lines to cross.

3rd Trade (Gbp/Usd) Long: Limit +66.4 pips
Stop -41.1 pips
Pips Gained: +31.7
TOTAL PIPS LOSSED: -7.4 PIPS
Analysis: I did the same thing with the previous two trades. The market was oversold but the MACD had not yet crossed when I took a long position, although I was smart enough to quite the trade when I noticed the first bearish candle stick. If not, the trade went down further -60 pips… Discipline is key…I have to stick to my system.

Wednesday: 16/12/2009
Capital: $4979.69
3% of bank risked: $149.39
1st trade (Aud / Usd) Long: Limit 45.4 pips
Stop -32.8 pips
Pips gained = +26.2 pips
Analysis – Noticed the convergence on the MACD and my chart, the MACD lines are almost crossing, the RSI is oversold and the candle sticks protruded out of the Bollinger band. I planned on getting 20 pips on this but as I earned 26.2 pips I quitted because the candle stick was showing a lil retracement.
2nd Trade (Aud / Usd) Long: Limit 28 pips
Stop -27.9 pips
Pips lossed = -27.9 pips
Analysis: I did not follow my hunches as in the above analysis and lost out big time. It retraced and further went up (don’t know wots up with me today, should have waited for the retracement and continued with the first trade…well)
3nd Trade (Aud / Usd) Short: Limit 32 pips
Stop -21 pips
Pips Gained = 10 pips
4th Trade (Aud / Usd) Long: Limit 42.4 pips
Stop -40.3 pips
Pips Gained = 18 pips
Analysis: Same as the first transaction
5th Trade (Gbp / Usd) Short: Limit: not visible from my snap shot
Stop -31.7 pips
Pips Lossed = -31.7 pips
Analysis: Since last week Wednesday the bullish market has not being able to cross the 50% level on the Fibonacci. Today it crossed and I did no place a long position but I rather placed a sell and the market swallowed me as you can see. I derailed from my analysis and I payed dearly for it.
6th Trade (Gbp / Usd) Short: I scalped +4 pips when I saw that the candle sticks passed through the Bollinger bands. Made up to +20 pips initially from its retracement, but a delay in execution ate into my profit.

7th Trade (Aud / Usd) Long: Limit 44.4 pips
Stop -39.1 pips
Pips Gained = +24.5 pips
Analysis: After the first breakout or Elliot wave I placed a long position, just the same analysis as my first trade and I finally sticked to my trading plan probably after the morning rush of the Adrenaline in my blood. Although I did not wait for the trade to his my limit as I wanted to be over with the trade in no time as I messed up seriously today. (was I kind of unstable???… cant say, I was circled by uncertainties of my choices on the trades this morning… It happens once in a while)
NOTE: Lest I forget, I mistakenly took a buy trade for GBP/USD while I was trying to execute the buy position for AUD/USD (you see when I say I was unstable) and that landed me in -2.10 pips.

Total pips gained: +21 pips
I could have done better and I must confess that even if I made +21 pips I aint happy….

Thurday: 17/12/2009
Capital: $5000.69
3% of bank risked: $150.02 (Pending)

I decided not to place my screen shots on today’s trade because there is nothing really to share as all of my transactions were based on SCALPING and share intuitions that went completely wrong and I paid dearly for it as I lost a whole lot of pips
However I shall place the number of pips I lost.

-43 pips were what I lost and I executed about 9 Trades: 5 were successful and 4 were not. However the four that were not were huge losses

OBSERVATION: One of the factors that contributed to my poor performance today was that throughout the week I did not really make LARGE number of pips, so it actually got to me and I started SCALPING and not following my system and if you ask me a clouded mind is the least companion anyone would want to take into a battle called 4X… My sword lost its swiftness and my mind could not anticipate the next move of my enemy. I got slashed severely, I just thank God I was able to obey my last rule which was backing out when I suffer a considerable number of losses per day. Or else……………………

Pips lossed = -43 pips

Friday: 18/12/2009
Capital: $4956.96
3% of bank risked: $148.71

1st trade (Gbp/Usd) Long: Limit 45.5 pips
Stop -41.5 pips
Pips lossed = -41.5 pips
Analysis: funny enough It later went towards my direction after hitting my stop loss. Stochastic (21, 9, 9) revealed to me that the market would be bullish and the RSI was already indicating that the market was oversold. My problem here was that I fixed a very tight stop loss.

2nd trade (Eur/Chf) Long: Limit 34.6 pips
Stop -38 pips
Pips Gained = +16 pips
Analysis: Same as the above analysis but a certain signal confirmed an uptrend movement because this currency pair has being bearish since on Wednesday: That signal was the appearance of the THREE SAMURAI’s (which are the three bullish candle sticks that appeared at the bottom of the downtrend).

3rd trade (Eur/Jpy) Short: Limit: +71.5
Stop: -97.2
Pips Gained = +32.4 pips
Analysis: Here I majorly used my Fibonacci (76.4%) as a major resistance level, my stochastic (9, 3, 3) as major tool for observing major beginning of trends, my MACD which had already formed a convergence alongside my candle sticks and finally the candlestick psychology (which were already showing doji).
I Terminated the trade as soon as it got to 61.8% fib level (did not want to take too much risk as this is a very strong support that would need more time to be broken.)

4th Trade (Gbp vs Usd) Short: Limit 56.7
Stop -92.7
Pips gained: +56.7 pips
Analysis: In this trade my stochastic (21, 9, 9) was already showing a confirmation of an imminent downtrend, the 3 SAMURAI’s (those are the three bearish candlesticks) were already out to assist you or as Sir Vahid says: the bearish candle sticks had already formed a complete shadow, covering the previous bullish candlestick that was formed. So I took a bearish position noting the fact that my Limit should not exceed the last support formed by my Fibonacci.
Total pips gained = 63.6 pips
Total pips gained for the week = + 80.66 pips

Monday: 21/12/2009
Capital: $5024.16
3% of bank risked: $150.72

1st Trade (Aud/Usd) Short: Limit +43 pips
Stop (Did not get it on my snap shot… Sorry)
Pips gained: +14.7 pips
Analysis: I used the prevailing downtrend since last week as a yard stick, moreover Stochastic 21,9,9 gave me a sell signal, However it did not hit my limit because I had a feeling that a reversal could occur as today is Monday and buyers could pull a stunt

2nd Trade (Gbp/Usd) Short: Limit +40.8 pips
Stop -69.3
Pips gained: +22.7 pips
Analysis: I used the prevailing downtrend since last week as a yard stick, moreover the candlestick had broken the 23.6% which gave me an avenue to sell, however it did not hit my limit as I was having the feeling that the market could change as today is Monday.
Later following the trend of the market, the position actually changed (became bullish), although it did not break the trend line that was formed. It finally followed the bearish pattern and passed my limit (that means I would have made about 40.8 pips today)

3rd Trade (Cad/Jpy) Short: Limit +17
Stop -27.9
Pips gained: +0.8 pips
Total pips: +38.2
Analysis: Stochastic 21,9,9 showed a sell signal and the psychology of the candlesticks further buttressed this fact, but I did not allow the candlestick to hit my limit as the profit per pip was really minimal (It was like 3 to 0.8 pips), and I got discouraged

Tuesday: 22/12/2009
Capital: $5062.45
3% of bank risked: $151.90

1st Trade (Eur/Jpy) Short: Limit +54.6 pips
Stop -57.1 pips
Pips gained: +4.8 pips
Analysis: Stochastic 21,9,9, and RSI showed that the market was already oversold. MACD and the candlestick pattern had already formed a divergence. So I took a sell position but did not allow it to hit my limit as I noticed a retracement or a continuation of an Elliot wave.

2nd Trade (Usd/Jpy) Short: Limit +25.7 pips
Stop -31.8 pips
Pips gained: +13.8 pips
Analysis: Same as above analysis (In both of them I was correct with the continuation of the Elliot wave as the trend continued with its uptrend)

3rd Trade (Usd/Cad) Long: Limit +33pips
Stop -42.4 pips
Pips gained: +7.7pips
Analysis: I majorly used 30 minutes chart today as my Stochastic, RSI and candlesticks showed me a long position… I was not patient for it to hit the limit I set. Further looking at my charts you would observe that it would have actually hit my limit.

I lost -2.4 pips on my GBP/USD as I mistakenly took position on it.
Total pips gained: +23.9 pips

Wednesday: 23/12/2009
Capital: $5087.74
3% of bank risked: $152.60

1st Trade (Usd/Cad) Long: Limit +32.6pips
Stop -30.6 pips
Pips lossed: -30.6pips
Analysis: Today I decided to dare I higher level by trading on 4 hours (have never done it before but I am trying to work on my patience before executing a trade and I observe that the higher the time frame you use on your chart, the more pips you gain… Learnt it on this forum)
So for my first trade, I observed a trend line since the beginning of this month although I goofed as I took a long position while expecting the market to go long after touching the trend line, since my stochastic had given me a go ahead. Not knowing that I should have waited for this to happen before taking a position.
As you later noticed, after touching the support, it took some time before finally going below its former support (that was when it hit my stop loss)

2nd Trade (Usd/Cad) Short: Limit +27.7pips
Stop -62.9 pips
Pips gained: +27.7pips
Analysis: I used the same analysis as above (and that was what I should have done from the beginning). After the candlestick broke a major support and my stop loss, I immediately a short position and placed my limit on +27.7pips as its just above another major support line





3rd Trade (Usd/Cad) Short: Limit +63.6pips
Stop -122.5 pips
Pips gained: +46.4 pips
Total pips gained: +43.5 pips
Analysis: I majorly used my RSI 21, 9, 9 which showed me a sell signal and a tiny divergence on my MACD and candlesticks. I took a long position to take my limit just before the 50% fib point as I have realized that this point plays a big roll on both resistance and support.
Although the candlesticks didn’t get there as I slash of my trade to rake in my profit as I observed that the bearish candlestick was becoming erratic and I was running out of patience.
However not long before I took my profit, the market actually reversed… I would have been biting my fingers had it being I was still on the trade

Thursday: 24/12/2009
Capital: $5135.89
3% of bank risked: $154.08

1st Trade(Usd/Cad) Long: Limit +23.7 pips
Stop -57.9 pips
Pips lossed = -7.7 pips
Analysis: My stochastic (21,9,9) showed me a long position. I quitted the trade as I noticed the market did not really move as such, and if you ask me what was I thinking of? Trading on XMAS eve?....

2nd Trade(Usd/Cad) Long: Limit +76.9 pips
Stop -86.6 pips
Pips gained = 0.9 pips
Analysis: Same as above analysis.
Total pips lossed: -6.8 pips
Pips gained for the week = +98.8 pips