Wednesday, January 6, 2010

December Trade Results—Up 2,092 pips

In October I began posting my monthly results from the trades I blog about. For the month of December, the results are a net gain of +2,092 pips. (For October, I was up 1,994 pips; for November, +2,054 pips). I’m a little surprised that I did better than in November because December was a short month for trading and I took very few trades after the 15th of the month. As usual, most of the gains came from a very few pairs with EURJPY contributing 967 pips and GBPCHF contributing 500 pips.

In some of the trades, I took partial profits. I’m still 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. If anyone has a better idea for how to report these, please post a comment. I also had some trades I blogged about that stopped at breakeven. I didn’t count these in the trades I list.

December was another good month. All through the fall months, there have been numerous trading opportunities. A trader’s job is to clearly look at our charts and identify these opportunities. The analysis I do is what allows me to identify them. I work very hard at my analysis. Trading is hard work. Anyone that says it isn’t is either (a) delusional or (b) lying.

My percentage of wins is very good lately but I don’t expect that to continue each month. As readers know, I’m fanatical about my entry points and this contributes to stronger win ratios, I guess. Still, in many months, I have a smaller percentage of wins but still can achieve good profits because I do follow the old rule of cutting losses short and letting winners run. It took me a couple of years to get the hang of that but it’s what makes trading profitable. I don’t show the trades where I broke even but these would have been losses had I not been quick to move my stop. I was probably somewhat over quick to move stops in December since I was worried all month about the lowered liquidity.

However, I have had losing months in the past and I will have them again. Believe me, when I do, you’ll know about them because I show my real trades here. This is a lot different from people that report their results after the fact or tell you that you need some mystical or magical approach that will only cost you a few thousand dollars. This is baloney as far as I’ve been able to determine. People are successful at trading when they exercise discipline and follow good rules for trading.

Here’s the detail of the December trades. Each of them was blogged about when it took place and you could see them on the charts I posted.

Currency pair, total net gain or loss in pips, and the detailed trades

AUDUSD +80 total (+50, +5, +20, and +5)
EURJPY +967 total (+43, +264, +180, +360, +120)
EURUSD +201 total (+64, +65, +93, +29, -50)
GBPCHF +500 total (+80, +170, +200, +50)
USDCAD +344 total (+50, +84, +160, +10, +20, +20)

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