Week 9: Day 43

Week 9: Day 43, originally uploaded by 10k10weeks.

There were 2 big pre-market news today.

I got in on a short just before the first one. And got stopped out when the 2nd piece had prices shoot upwards.

That's it for me today. Made a profit of $500.00.

Week 9: Day 42

Week 9: Day 42, originally uploaded by 10k10weeks.

Finished trading early today!

As I am doing this report, I actually missed a really good long.. but that's ok. I can't expect to win everything. I've done what I'm supposed to do, so I'll just stick with the plan!

Slow is smooth. Smooth is fast! And so, it doesn't matter if I'm not there for every huge move.

So that's just one trade for the day, and I'm off.

Profits for the day = $875.00

Week 9: Day 41

Week 9: Day 41, originally uploaded by 10k10weeks.

Huge long move today!

And it came just when I was making some small profits on a short. But I simply ignored the reversal signal. Same sin yet again!

I only made 2 trades and came out with a $250.00 profit.

Week 8: Summary

Week 8 was a pretty good week. There were a couple of things that I could have done better, but overall I've more or less gotten used to trading with more than 2 lots.

Again, I missed a couple of really huge trades. Because I didn't take up a reversal signal, or I didn't filled on my order. Anyhow, it still looks like I'm on track to hit my target now.

I'm doing 5 lot trades now, but once I hit $7k profit this coming week, I'll be putting on another lot.

Stats
9 Winners
13 Losers
3 Breakeven

Largest losing streak = $500.00
Largest loser = $187.50
Largest winning streak = $1,962.50
Largest winner = $925.00

Week 1 +$325.00
Week 2 +$862.50
Week 3 +$150.00
Week 4 -$337.50
Week 5 +$1,037.50
Week 6 +$1,075.00
Week 7: +$562.50
Week 8: +$2,912.50

Total P/L: +$6,587.50 (65% of 10k target)

Week 8: Day 40

Week 8: Day 40, originally uploaded by 10k10weeks.

Wow! What an exciting trading day. I had to just keep focussing on my charts. I couldn't even be bothered with the updates.

What I liked about today was that I kept my discipline in having patience to wait for market action to flatten out before I took my trades. The result was that I only took 3 trades! But I could have gotten on that huge short though.. that was the only blot on the picture.

I'm out with $650.00 for the day.

Looking back, it's been an incredible week that registered $2,912.50 in profits. It's about time a week like this came by.

I'll post a weekly report over the weekend.

Week 8: Day 40 (Pre-market)

Week 8: Day 40 (Pre-market), originally uploaded by 10k10weeks.

After the big sell off yesterday, there was a huge retracement of almost 8 points, which made a nice pre-market setup.

I picked a very nice top, but could have done better in riding it out for a few hundred bucks more, but I was being conservative and didn't want to spend too much monitor time during pre-market.

What I liked about this trade was that I was patient waiting for a full signal to form, and I only spent less than 15 minutes waiting.

I have also gone to 5 lots today, so this is a pivotal progress. Because I adopting a conservative approach during pre-market time, I took 3 lots @ TP1, while leaving 2 lots for the 2nd TP.

If u see the screenshot, I was just 1 tick away from getting stopped out, and usually I would have got stopped.. I've noticed this happens often during pre-market. I guess I got lucky today.

Anyhow, I got away with a nice profit of $700.00.

Week 8: Day 39

Week 8: Day 39, originally uploaded by 10k10weeks.

Nice pre-market movement earlier in the day, but I couldn't be with my screen to manage every minute of things. It could have been better if I did, but I'll just have to live with what's happened.

I made 6 trades today to capture 2 shorts. I opted for a tight stop after opening bell, so I got out with a MUCH lesser profit that I would have if I hadn't been overly conservative with my stops. But then again, I could have a re-shorted it at the top of the retracement, so nevermind that. It's the usual greed talk. I'll just try to improve on that.

Anyway, I was happy to end the day with an extra $675.00 accumulated to my profits.

I did think of trading the 10 o'clock news when I was doing this update, but I decided to stay out of it.

At the moment, this is looking like my best week so far. Hoping to end it with a nice positive bang tomorrow!

Week 8: Day 38 (News Event)

Week 8: Day 38 (News Event), originally uploaded by 10k10weeks.

I hung around for a Manchester United soccer game, and so decided to trade the big news event.

As prices hit multiple ceilings, I got in on two premature trades fearing I would miss the boat.

Anyway, I could have managed it better to get over $1,000.00, but I'm happy to have netted $575.00.

Week 8: Day 38

Week 8: Day 38, originally uploaded by 10k10weeks.

Missed the a short position just before opening bell!

Then I caught a nice long retracement move, but failed to cover on an exit signal, and that got me a breakeven. Very sloppy stuff!

The huge move down made an 8 point range, so that was it for the day.

Chalked up a loss of $150.00

Week 8: Day 37

Week 8: Day 37, originally uploaded by 10k10weeks.

Pre-market had setup the day for shorts.

But I missed the the entry as it was a couple of ticks off my level. So I got in later on a 2nd signal, and was eventually stopped out for some small profits to cover 2 earlier losses.

Then I grabbed the retracement upwards at a pretty good price, and got out with a neat $400.00 profit before prices took a quick dip.

Came out with a profit of $312.50.

And that brings my total profits up to $4,187.50, which means I'll be on 4 lots starting tomorrow.

Only two and a half more weeks for me to touch the big 10k target, and I think I am slightly short.. Let's see how it goes.

* I've also removed my twitter section for the time being, cause somehow, it was showing somebody else's twits..

Week 8: Day 36

Week 8: Day 36, originally uploaded by 10k10weeks.

It was a ranging day. Overall trend was short, so I waited for the price to retrace up to make a short.

Tried to do a long before the opening bell, but nothing came out of that. Then I was too early with my 1st attempt after the market opened. Eventually I made a reasonable short and made $400.00

Profit for the day is $200.00

Week 7: Summary

Week 7 didn't turn out to be as good as I wanted it to be.

I missed a couple of really good trades. So that significantly effected my profitability this week. I'll need to iron that out.

I will bump up to 4 lots on Week 8 if my profits reaches $4k.

Stats
6 Winners
13 Losers
5 Breakeven

Largest losing streak = $787.50
Largest loser = $187.50
Largest winning streak = $1,212.50
Largest winner = $625.00

Week 1: +$325.00
Week 2: +$862.50
Week 3: +$150.00
Week 4: -$337.50
Week 5: +$1,037.50
Week 6: +$1,075.00
Week 7: +$562.50

Total P/L = +$3,675.00 (37% of $10k target)

Week 7: Day 35

Week 7: Day 35, originally uploaded by 10k10weeks.

Great setup for a short just before the opening bell as it bounced off a resistance at the 1067.00 level. Too bad I just couldn't get filled. What a way to miss a trade.

So I ended up with just a $37.50 profit after I decided to stop trading after the huge move and a half. But I'm down after account for pre-market losses. So it's -$187.50 today.

I also didnt make as many trades today. Was trying to keep away from getting into a premature signal. I guess I was overly cautious.

Anyway, have a good weekend! Weekly update to follow later.

Week 7: Day 34

Week 7: Day 34, originally uploaded by 10k10weeks.

Today was really simple.. I just missed the big 10 point long of the day! I can't believe it that I missed it cause it actually hit my profit targets!

Came out with just a measly $12.50 profit instead.

Day 34: Pre-Market

Day 34: Pre-Market, originally uploaded by 10k10weeks.

Have been taking a few pre-market entries over the past 3 days. And they've been profitable. So, I'll be doing a few of these over the remaining weeks, and they will be posted here as well.

For today, I caught a nice retracement long in pre-market time. I would have liked to take a short at 1,068.50. Made $550.00 on this one.

As I am typing this, I've just missed a long at 1064.50, making 2 points now.

Anyway, thats it for some early trading for me. Will come back a couple of hours later looking for a setup before the news at 8:30.

Week 7: Day 33

Week 7: Day 33, originally uploaded by 10k10weeks.

Seems like price was ranging slowly upwards. And that's what the prices did when the market opened.

I did two premature speculative shorts trying find the top, without full signal confirmation, and I paid the price for indiscipline. That's been my downfall this week. I would have made much more without those mistakes.

Today, I'm out with a $325.00 profit. I've clawed back most of the losses for the week.

Week 7: Day 32

Week 7: Day 32, originally uploaded by 10k10weeks.

Another case of a great day to trade, but I messed it up ;D But I still came back netting a $100 profit (should have been $350)

Anyway, I believe the screenshot tells the story.

Also, I'm not feeling too well today, so everything was just messy. Haha.. I shall not let that be an excuse :)

Week 7: Day 31

Week 7: Day 31, originally uploaded by 10k10weeks.

It was a slow up trending day, but I made losses for trying to pick a top. That's what I get when I go against the trend.

So it's a small loss of $262.50 for me today.

Week 6: Summary

Week 6 turned out to be a pretty good week.

It's the best week yet, thanks to the extra 1 lot that made the difference. When I get to a $4k profit, I'll be adding on another lot.

I did face a psychological problem in executing the trades -- on both entries and exits. There were hesitation in pulling the trigger, and I made many premature exits due to fear, and entirely missed some exits due to greed! In trading, having your emotions dictate your actions is one of the worst things that can happen. So I'll have to address them for next week.

Here are some stats: -

4 Winners
2 Losers
3 Breakeven

Largest losing streak = $150.00
Largest loser = $150.00
Largest winning streak = $975.00
Largest winner = $600.00

Week 1: +$325.00
Week 2: +$862.50
Week 3: +$150.00
Week 4: -$337.50
Week 5: +$1,037.50
Week 6: +$1,075.00

Total P/L = +$3,112.50 (31% of $10k target)

Week 6: Day 30

Week 6: Day 30, originally uploaded by 10k10weeks.

A day of choppiness, indicisive indicators and a bit of paranoia.

Nothing much happened, and I was already about to doze off, so I called it a day and did my report, but just right after I uploaded my screenshot, I saw a nice setup for a short, which turned the day around.

But I was being a little too cautious, and took an earlier profit than usual. Otherwise I'd be up an extra $175.00

Anyway, in total I'm up by $212.50 today, so I won't complain.

Will do a weekly summary over the weekend.

Week 6: Day 29

Week 6: Day 29, originally uploaded by 10k10weeks.

Wow! Today was a very exciting day to trade!!

Now if only I did everything correctly.. but I didnt.. I let a huge 12 point profit go breakeven.. so much for an exciting day..

The news should not be playing a part in my decision making, but today it did, and that's why I held on to my long. The lessons that I learn repetitively..

Anyway, I still ended up positive with $375.00.

Week 6: Day 28

Week 6: Day 27, originally uploaded by 10k10weeks.

Today was pretty uneventful in terms of news, just like yesterday. So I expected a pretty range bound day.

Got in on 2 entries, the first one where I brokeven, and the next a nice $600 profit with 3 lots, but I could have done better on the exits. I gave in a 2 tick discount on each level.. It was a case of getting nervy on the bump to being on 3 lots.

All done in less than an hour :)

Week 6: Day 27

Week 6: Day 26, originally uploaded by 10k10weeks.

I wasn't really excited to trade today because there was no news, and we've just got back from a long weekend.

I tried 2 shorts, but both got taken out before it moved my way (one of them at breakeven). Its just one of those days that weren't meant to be.

So I'm happy to just take a hit of -$112.50 and call it a day.

Week 5: Summary

Hello!

Yesterday was Bank Holiday, so no trades were made.

Week 5 has been a good one. It's the biggest winning week so far.

Here's how the weekly P/L looks like: -

Week 1: +$325.00
Week 2: +$862.50
Week 3: +$150.00
Week 4: -$337.50
Week 5: +$1,037.50

Total P/L = +$2,037.50 (20% of $10k target)

We can also see from the stats that losers make up 55% of the trades. But because the risk of a trade is so small, I don't get smashed when I'm on a losing run. And I stay alive for the big winners.

Based on my money management strategy, I'm going to be on 3 lots starting this week, with the additional lot added for TP2 targets.

Week 5: Day 25

Week 5: Day 25, originally uploaded by 10k10weeks.

Quite exciting premarket action trading the unemployment news.

I did get my short just a few minutes before the news broke, but forgotten to adjust my TP level that bumped higher just before the news. So I totally missed out on about 6 points! What a way to start the day..

And when that happens, things doesn't look too bright after..

So I finished the day with just $50.00

I'm up for the week! According to my money management plan, I'll be bumping up my lots to 3 starting next week (probably Tuesday, since Mondays tend to be slow sometimes).

Have a good weekend everyone!

Week 5: Day 24

Week 5: Day 24, originally uploaded by 10k10weeks.

Nice pre-market build up before the huge shorts kicked in.

I went in on 2 positions before the market opened, with the first one getting stopped out. I was also 1 tick away from being taken out at breakeven before prices went south.

Today, I also made the largest winning trade, reflected by the big bump in my P/L graph :)

That's a profit of $662.50!

Week 5: Day 23

Week 5: Day 23, originally uploaded by 10k10weeks.

It was a ranging day today, but it was ranging very neatly. Very nice trades.

I'm up again with just one trade for the day, but could have done better.

It's +$312.50 :)

Week 5: Day 22

Week 5: Day 22, originally uploaded by 10k10weeks.

Hello on Week 5!

Looks like it was rather messy last week. Not too sure if I can hit my target in 6 weeks time now. But I'll just keep at it.

Today was great, but would have been better if I hadn't exited my position a tad early.

So its +$387.50 today!

Week 5: Day 21

Week 5: Day 21, originally uploaded by 10k10weeks.

Nice downward move after the opening, which should have been an indication for me to stop early, but I guess I jut got sucked in!

So its a loss of $375 today. Will try again tomorrow.