Tu., Feb. 4 end of day results: +121 pips

February 5, 2014 at 2:05 am
EURJPY:  P1 reached: +20 pips, the remaining 2 orders closed at break even

USDCAD: P1 reached: +19 pips, the remaining 2 orders closed at break even
NZDUSD: P1 reached: +20 pips, the remaining 2 orders closed at 137.44 adding +62 pips to the total
Total today: +121 pips

NZD trade on news

February 4, 2014 at 9:48 pm
NZDUSD Buy 0.8228 Sell 0.8195

Orders update

February 4, 2014 at 3:47 pm
EURUSD and GBPUSD cancelled

EURJPY got filled at 137.13 SL moved to 137.84

Tu., Feb. 4

February 4, 2014 at 1:26 pm
EURJPY Buy 137.11 SL 136.65 P1= 137.31 P2= 137.58

EURUSD Buy 1.3536 SL 1.3486 P1= 1.3554 P2= 1.3569
GBPUSD Buy 1.6345 SL 1.6295 P1= 1.6362 P2= 1.6372
USDCAD Sell 1.1065 SL 1.1125 P1= 1.1046 P2= 1.1036

EURUSD stop loss order at break even

February 3, 2014 at 5:04 pm

Even though P1 hasn’t been reached, the price came close enough to justify moving the stop loss to the break even point

Mo., Feb. 3

February 3, 2014 at 1:21 pm
EURUSD Buy 1.3517 SL 1.3474 P1= 1.3542 P2= 1.3517

Let’s talk about losses.

February 2, 2014 at 1:42 am
In trading, losses are the inevitable part of the game. Every business has its expenses. In trading, losses are the major part of your business expenses and they must be treated that way.

First reactions of inexperienced traders to losses are anger, frustration, revenge, and such. Beware of trying to get even with the market. That is exactly how trading accounts get wiped out.
In the history of human kind there never was a person who could predict markets for a reasonably long period of time. Just accept that fact and be humble. I never even try to predict the market, I just try to make my odds of being on the right side of the market higher than 50% and preferably more. But I do realize that I will never achieve a 100% winning rate.
Learn from all your trades. At the end of every week, go over each trade you made and examine it carefully. Could you have done better? Could you make more money or lose less? Did you follow your trading system? Were you emotional when you placed those trades? And so on and so forth.
Be consistent. If you are consistent in what you do, you can easily spot things that need improvements. You don’t have to invent the wheel. Know your odds and keep doing the same thing over and over again and success will come. Casinos prove it time and time again.

Jan. 31 end of week results

February 2, 2014 at 12:45 am
This week wasn’t so good. The result is a loss of -149 pips.

The total up to date results: 

Week 1:   +231 pips

Week 2:    –  19 pips
Week 3:   +415 pips
Week 4:   +366 pips
Week 5:   +137 pips
Week 6:   +150 pips
Week 7:   +  20 pips
Week 8:   +155 pips
Week 9:   +  23 pips
Week 10: -149 pips
Total: +1329 pips