Wednesday, March 3, 2010

February Trade Results—up 5,915 pips

Since I began posting the results of the trades I blog about and show when I take them, the results have been:

Feb 2010—up 5,915 pips
Jan 2010—up 3,116 pips
Dec 2009—up 2,092 pips
Nov 2009—up 2,054pips
Oct 2009—up 1,994 pips

There have been many opportunities in recent months and the market has been geared to my particular trading style. February offered the chance to make huge gains at the beginning of the month. Almost 50% of my gains were made in the first week alone! Had the large market moves of the first week not occurred it's likely my gains for the month would have been similar to January's 3,116 pips.

As I always write, the real secrets to good trading are hard work and discipline. My success isn't the result of some secret Gann technique or from using some mystical cycle or astro-economic phenomenon. It's not that there may not be value to cycles, astro-economics, or Gann. It's that too often the so-called practitioners speak in code and then offer to sell you something, sometimes for lots of money, to learn their secrets. Look, I'd pay lots of money if there was any proof. But because they shroud everything in mystery, no objective evaluation can be done. To be successful in trading you only need good technical analysis skills (which can be learned), a strong work ethic, and good discipline. If you look at the detail of my results below you'll see small losses and big gains. It really is about letting profits run and cutting short losses. That is the only "secret." That's how I earned those big gains during the first week of February.

In some of the trades, I take partial profits. I'm still not sure how to best report these so I just report them as I take them. If I take partial profits at 50 pips and close out the trade at 100 pips, I count it as a total of 150 pips.

Here are the details of the February trades. Each was blogged about as I was ready to take it or shortly after I got into it. You could see them on the charts I posted because they show up as triangles or inverted triangles depending on whether I'm long or short. I list the detail in the order in which they occurred during the month. That is, when I'm compiling my results I start at the first day of the month and just add each day. For example, in AUDUSD, you see detail of where the first trade was +9 pips. That means that's the first AUDUSD trade I reported during the month. So you can go back in the blog and examine each one in more detail.

Here is the currency pair, total net gain or loss in pips, and the detailed trades:

AUDUSD +241pips total;
+9, +87, +5, +28, +57, +55
EURGBP +269 pips total;
+123, +146
EURUSD + 1,539 pips total;
+205, +373, +300, +100, -47, +280, +23, +10, +7, +91, +150, +25, -43, +13, +12, +40
GBPCHF + 49 pips total;
+46, +3
GBPJPY + 964 pips total;
+335, +463, +69, +97
GBPUSD + 2,119 pips total;
+112, +232, +137, +460, +544, +287, +247, +100
USDCAD +637 pips total;
+446, - 68, -31, +270, -23, -50, -32, +125
USDJPY + 97 pips total; +67, +10, +20

February was a hopping month. Let's hope March offers as many opportunities.

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