Tuesday, December 1, 2009

November Trade Results—Up 2,054 pips

In October, I started posting my trade results from trades I’ve mentioned on this blog. I don’t blog all my trades (I’d never have time to trade if I did so) but I do touch on many here as I tend to follow different pairs for a period of time. For the month of November, the results are a net gain of +2,054 pips. This compares to a result of +1,994 pips in October. In some of the trades, I took partial profits. I’m not sure about the best way to report those so I just lump them together, e.g. if I closed out half at 50 and the rest at 100, I count 150. I also had some trades I blogged about that stopped at breakeven. I didn’t count these in the trades I list.

It was another good month. The market again presented many, clear opportunities. It’s not that I’m a great trader. It’s that the market provided me some great clues. My role was to stay alert to them. I also do a tremendous amount of analysis. Trading is hard work. Anyone that says it isn’t is either (a) delusional; or (b) lying.

I’ve had losing months in the past and will no doubt have them again. I don’t have crushing losses because I keep tight stops but even tight stops add up if a bunch of trades go against you. I’ll also tell you that the first year I traded I blew through 60% of my trading account; the second year I “only” lost half of what was left. (Big improvement, right?) Finally, things turned around and stayed flat for a while. After that, things began to improve. The moral is, if you’re just starting out, trade ultra small positions and manage your risk. You’ll still lose but it won’t hurt so much. If you keep at it, studying the markets, keeping an open mind and not trying to put your own spin on things, and journaling your trades, you’ll eventually make money.

When I do have a losing month, you’ll see it here because in this blog I show you real charts with the trades on them. You can look back through the month and find the trades I mention below. So many people out there, so-called gurus, tell you how much money they made. However, you never see their trades as they go—it’s always in retrospect and they’re always showing you old charts. Phooey on that. Don’t give them your money so they can “teach” you.

Anyway, I don’t expect these results in December. It’s always a slower month for me as the holidays approach but of course if I see opportunities, I’ll take them.

Here’s the detail:

Currency Pair, Net Gain or Loss in pips, and number of trades with pips
AUD/USD +501 6 trades at +63, +80, +128, +110, +50, and +70
EUR/USD +304 4 trades at +10, +125, +107, and +62
GBP/JPY +100 1 trade at +100
GBP/USD +383 3 trades at +100, +225, and +58
USD/CAD +766 3 trades at -28, -59, and -76
10 trades at +61, +197, +10, +122, +60, +120, +50, +199, +100, and +10

No comments:

Post a Comment