Thursday, December 1, 2011

November review and FX scalps

Hello everybody,
November was harsh month, in my trading and also in my life. It seems I am having chronic sinusitis for two months, so was feeling bad for very long time. Probably health problems had influenced my trading results too. I was taking runs(jogging) for a few weeks in the mornings, but after my body rudely alerted me that I am sick I got a visit to a doctor. At the time I finishing to drink 3rd pack of strong antibiotics and some other medicines. And next week I am gonna ask for surgery to my splay(?) nose's septum(?), because these sinusitis repeats almost every year for me. I need to fix it finally.
I traded this month only 303 horse race markets in betfair (in September 631 markets). Lost due in play 420 euros, average win per market is 6eu from 201 markets , average loss is 11eu from 102 markets(in play losses included). Total finish is +120eu. That profit is small ... but what a heck, it's still profit and I worked hard to stop that in play problem and I am sure I will not do that again! Next following months will be more profitable I am sure.
After using exercise from my a last post I never had even small temptation to go in play again! However I got involved one time by accident, then I saw time to the off is 00:00 I canceled my exit lay stakes and wanted to exit by current price, and can you imagine that 5f market got in play in that split second time when I was pressing on the current price? I had a back bet on ~20 odd horse, so exit was impossible. I lost ~70eu by this. This shitty thing happened at least few times in my trading carrier. I must BE MORE CAREFUL in the  last seconds of the pre race market and close my trades little earlier.
I believe I am getting back to the right traders mindset - calm, concentrated, free from frustration and anxiety, trading in the now moment. Its hard to come back from harsh period but I will make it :)
November's roller coaster:
I bought a book "Trade With Passion and Purpose: Spiritual, Psychological and Philosophical Keys to Becoming a Top Trader" , not so good and interesting how I though it will be, but still, I find there few very good insight. I am in the middle of it.

Forex scalping
I am still trading/learning Forex markets with demo account. Almost every morning I am watching what eurusd is doing and trying to apply knowledge what I got from hardcore reading book "Reading Price Charts Bar by Bar". Well, learning process is not short, and I need much more experience before I put real money, though my demo account is on profit with ~55% win ratio, but I think it will get harder with real money due psychological pressure. Perspectives in Forex financial markets are amazing in long term, only if I can manage to make consistent profits on weekly basis, let's say only 50 pips, I would be millionaire after few years by increasing my position size and keeping risk not more that 2% per trade on my trading account. I believe time and efforts will make me successful long time winner.
Here are some examples what I saved for you from my demo trades what I made in the real time.
So that's it folks, have a nice and green day.

2 comments:

  1. Hi
    I follow your blog a couple of months and I want to tell you that you are doing a great job.What is your setup in Forex? I am thinking to start but I do not know where to start. Any suggestion?

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  2. Hi,
    I have naked setup with only one moving average 20 period. I am trying to read price action, what is most important in any market. Well, I can suggest you to read few books mentioned in my blog, first - "reading price action bar by bar", and second - "trading in the zone". And of course there is tons of forums, like forexfactory.com , but be picky what to read, because you can waste your precious time too much on the non informative threads.
    I can remember the same feeling what I wanted to start trading, but did not known where to start, so I just started to play in the markets without any preparation and lost a lot money instantly(few months)... After two years, I am little better :D

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