Saturday, September 29, 2007

Chaotic week to end the month.

After a respectable 3 profitable weeks in a row, the last week of spetember has been a roller coaster ride for me on the FOREX markets.

First, a string of bad decisions has lead to the loss of all my monthly profits plus 20%. At this very point, many would've panicked. I rolled up my sleeves and started being profitable again. Then on friday some more profitable trades reduced the weekly loss to a total of -10%.

Here are my weekly stats and a monthly total.

Profitable trade % this week: 68.67% (57/83)
Profitable trade % month: 86.14% (230/267)

Profit/loss this week: -10.02%
Profit/loss this month: +9.17%

P.S. Each position is potentially dangerous. Do not invest money you cannot afford to lose on the FOREX market.

Friday, September 21, 2007

An inch from perfection.

Here we are, another week is over, this one ends up as a third profitable week in a row for me. The results are very good once again but I am not satisfied at all with my decision making.

The only non-profitable trade that I made this week has got me angry and I reacted immediatly without thinking and planning. The result: a very dangerous long position was opened on the GBP/JPY pair. A position so dangerous that on wednesday it was eating up close to 20% of my account at it's worse point. Hopefully for me, the GBP/JPY went back in the 233's today relieving me of all pressure.

This will be considered as a wake up call. The FOREX market is unforgiving and I should consider myself lucky to get out of this week unharmed. As you will be able to see below, even if you are close to perfection a single trade can potentially crash your entire account.

Here are my numbers for the week and the month:

Profitable trade % this week: 97.3% (36/37) (+984 pips)
Profitable trade % month: 94.02% (173/184)

Profit/loss this week: +8.4%
Profit/loss this month: +19.19%

P.S. Every FOREX position is potentially dangerous. Do not invest money you cannot afford to lose in the FOREX market.

Sunday, September 16, 2007

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Friday, September 14, 2007

Better decisions = better results.

So another week is over, a second profitable week in a row for me on my FOREX platform.

I improoved the quality of my trading and only had to close 2 non-profitable trades all week long. A short lapse of impatience reminded me of past mistakes I used to make all the time, so I focused on what I do well and there I was, back on the right track.

Here are my numbers for the week, also a small combined overview.

Profitable trade % this week: 94.56%
Profitable trade % month: 93.20% (137/147)

Profit/loss this week: +6.32%
Profit/loss month: +10.81%

So all in all this week have been satisfying, I managed to increase both my winning trade % and my profit % this week in comparison to my first week back.

Steady wins the race so I have no expectations other than being profitable for next week. It does not matter right now how much I make next week in terms of profit %. I will not try to absolutely increase my profit % compared to this week. To absolutely want to increase it no matter what would much likely mean greedy and risky trading.

I absolutely don't want that to happen.

P.S. Each FOREX position can be potentially dangerous. Do not invest money you cannot afford to lose in the FOREX market.

Saturday, September 08, 2007

Feels good to be back.

This week was officially my comeback attempt on my FOREX platform. My results looks very good on paper as in fact the quality of my trading was more than ordinary.

Here are my numbers for this first week of september:

Profitable trade %: 91.6%
Profit/loss: +4.49% account

So all in all a profit was made, even thou a lot better decisions could've been made. The febrility of coming back and the impatience is a dangerous combination. I am looking forward for next week. We will see if I can improove my decision making and efficiency.

P.S. Do not invest money you cannot afford to lose when trading FOREX. Each trade is potentially dangerous.