Wow… what a week and weekend…. My entire week was really crazy as I was trying to meet up with so many targets. More so the new year is already throwing its own sets of challenges in my personal life at work and in my growth on FOREX (which really excites me).
My last account expired January 04th 2010 and am glad I made I turned my $5000.00 to about $5950 but am sad at the same time because I cheated on my last trade for the year by taking about 15 lots.
However I have started a new $5000.00 account which is suppose to take me for a month. Forgive me for not adding my Monday and Tuesday’s posts as my job cut up with my record keeping

Wednesday: 06/01/10
Capital: $5099.87
3% risk: 153.00

1st Trade Gbp/Jpy (Long) = Limit: 112.9 pips
Stop : -108 pips
Pips gained = +42.9
Analysis: Stochastic was already showing buy signal, MACD a convergence, the market was oversold, although I did not wait for the trade to hit the limit but I ensured the Limit below a major fib. Point

2nd Trade Usd/Cad (Long) = Limit: 40.5 pips
Stop: -35.4 pips
Pips gained = +21.8
Total pips gained = +64.7
Analysis: Same as above analysis just that I decided to put my stop loss not on a very important point of the Fibonacci because I sensed that the uptrend is not really a strong one

Thursday: 07/01/10
Capital: $5167.38
3% risk: 155.02

1st Trade: Usd/Cad (Long) = Limit: +58.3 pips
Stop : -41.8 pips
Pips gained = +3.7 pips
Analysis: Majorly my stochastic gave me a buy signal but I quitted early because I noticed that the downtrend was a very force full one and for my Stoch. To work, it needs a more regular chart.

2nd Trade: Gbp/Usd (Short) = Limit: +45.7 pips
Stop: -79.9 pips
Pips gained: +13.1 pips
Analysis: The psychology of the candlesticks and my Stoch gave me a sell signal (I regretted I did not stick to my limit as I would have hit my +45.7 pips)… Am still having problems sticking with my analysis especially the very good ones.

3rd Trade: Eur/Usd (Short) = Limit: +29.6 pips
Stop: -43.8 pips
Pips gained: +15.1 pips
Total pips gained =+31.9
Analysis: This set up is one very good set up I witnessed and again did not stick to my limit…. Took this position because I noticed a clear head and shoulders formation, the psychology of the candlesticks and my Stoch were begging me to continue slashing but I stopped when the fun was about to begin.

Friday: 08/01/10
Capital: $5199.16
3% risk: 156.00

1st Trade: Eur/Usd(Long) = Limit: +31.5 pips
Stop Loss: -31.9 pips
Pips gained = 11.8 pips
Analysis: I used my Stoch and the fact that 0.236 on the Fib was not yet broken after about 24 hours which meant that it was a strong support on this chart… Well well well… I actually followed my hunches in terminating the trade after noticing that a few hours later it also had problems exceeding 0.382… If not this transaction would have hit my stop loss and I would have been in serious problems.

2nd Trade: Usd/Chf (Short) = Stop: -26.5 pips
Limit: +25.5 pips
Pips gained = +0.8 pips
Total pips gained = +12.6 pips
Analysis: Same as above… The problem I had here was that I terminated both of these trades together but it didn’t work out that way as Usd/chf did not trigger off and that caused my +0.8pips I slashed. If it went the other way round I would have made cool +30 pips

Hello Lordpipi,

Nice Journal you have here. It's nice to see how your acct balance continue grow.