Nov 29 end of week results

November 29, 2013 at 4:54 pm
With today’s profit of +15 pips the total result for this week becomes -19 pips.
Up to date total is 231-19 = +212 pips of profit

USDCAD P1 is filled, P2 changed to 1.0543, SL to break even

November 29, 2013 at 1:35 pm

Nov. 29. Good morning!

November 29, 2013 at 12:50 pm
USDCAD Sell 1.0577 SL 1.0606 P1= 1.0562 P2= 1.0553
USDCHF Sell 0.9037 SL 0.9063  P1= 0.9014 P2= 0.9004

EURUSD BUY 1.3626 SL 1.3588 P1= 1.3646 P2= 1.3668

Nov. 28 end of day results

November 29, 2013 at 12:45 am
Two trades:

AUDUSD = +18 pips
EURNZD = +83 pips

Total today: 99 pips profit

AUDUSD is closed, profit 16 pips

November 28, 2013 at 11:29 pm
AUDUSD, P1 got filled, the other 2 units closed break even.

AUDUSD sell stop

November 28, 2013 at 8:27 pm
AUDUSD Sell 0.9083 SL 0.9122 P1= 0.9067 P2= 0.9055

How much money can you make trading Forex part-time?

November 28, 2013 at 6:58 pm
There are plenty of profitable strategies, tactics and techniques to trade forex. The goal of the strategy used for trades presented in this blog is to make consistent meaningful profits while trading Forex in a spare time.

So, how much do we need to make in order to make it worth while? Well, just making 10 pips per day or 50 pips per week can provide a meaningful supplemental income with the initial investment of only $1,000. 
The table below illustrates making 50 pips per week and re-investing profit back into trading for one year. The calculations assume risking 4% of the total cumulative balance and 40 pips per trade. 
Never underestimate the power of re-investment. As Albert Einstein said, compound interest is “the greatest mathematical discovery of all time”.

Profit/loss calculations

November 28, 2013 at 6:36 pm
As you noticed, I am back to calculating profit in pips as opposed to dollars because I think that pips are more meaningful. Everyone can multiply pips by the size of lot available to his/her account size.
While re-investment of capital is a huge part of building your account, for the purposes of this blog, I am not going to include re-investment into the calculations. 
To appreciate the impact that compound interest makes on successful trading, see my post “How much money can you make trading Forex?

EURNZD closed with 83 pips of total profit

November 28, 2013 at 6:11 pm
EURNZD: closed the last mini-lot at 1.6734 with the total profit of 83 pips.

EURNZD trailing stop moved to 1.6722

November 28, 2013 at 4:07 pm