What a great week:) + almost 50%

Wonderful week for my trading. 8 wins and only 1 loss. That means plus almost 50% in one week... Account statement follows:)

AUDCAD swing trade - target hit

Pinbar worked well again:) TP hit today... +70 pips with 3 micro lots

EURCHF trade still open

... I just moved my SL a little bit... this pair doesn't move very much, but I believe it will continue in its downtrend...

AUDCAD swing trade

I just moved my SL to breakeven +1, so it is a free trade no matter what happens:) I like these...

30% in one day??

Well, I would never thought it possible... but it is... three trades today closed as winners... Some losing trade has to come but I love this:)

and another...:)

... profit target number two hit today :) +another 10%

Yesterday's trade... +10% to my account:)

This is the trade from yesterday... as I posted, the price usually doesn't like to stay in a narrow channel and at some moment it will move in either direction... so it did today:) That means another +10% to my account. And another trade triggered...

Pinbar trade

As mentioned bellow I decided to take a pinbar trade. I risk only 2% of my capital and Risk:Reward is 1:1, because I believe these setups have higher winning rate. The space to go is not very big but I will try...

Today's trade?

This looks like perfect setup for my breakout trade. Price moves in a narrow range and that has to change at some time... and we will just wait:) Of course if it doesn't work out we won't cry...

April 23rd statement - after a nice week:)

Three months are behind me and the results are very positive! This week ended up to be very pleasant with 14 trades in total, 10 positive, 4 negative...
After first  quarter my account is up to 907 USD, which means +433%... not bad:)

EURAUD and AUDCAD

Both trades were closed today. My trailing SL got hit on EURAUD with +108 pips. AUDCAD looked really nice during the day but I didn't like the shape of the candle when the day was coming to an end. So I closed the trade with +6 pips. Better a little positive trade than a negative one:)

I might put a buy stop order on sunday night to go long. The pinbar looks very nice and could mean possible short (in length) swing trade to upper side of the triangle... The sellers have lost their fight today big way...

GBPCHF closed

I almost forgot this one. SL got hit @ -161 pips, that means -30 USD to my account... One of the bad ones:)

EURAUD trade

I closed half of my position on EURAUD @1.4398 with +177 pips per micro lot. That means +33 USD to my account:)
Another half left open, SL moved to  1.4692, that means that this trade cannot overall get negative on me...
I just put 100 pips trailing stop on the rest... Better safe then sorry:)

April 21st - AUDCAD

I entered AUDCAD short @9266, SL 9360, 3 micro lots (a little bit less than 5% of my acc.)

Another position trade opened...

Last night I entered EURAUD short.. so far so good:) As per my MM rules I entered with 4 microlots... I will sell half of my position at around 1.4400

Open position trades

These are two trades I have open according to my position trading strategy... EURCHF short is the first one. I entered according to my rules and with help of the nice pin candle on April 12th. Right now I am up 67 pips with 4 microlots, SL is 74 pips. I hope the pair will continue its bear trend...

Another trade is GBPCHF short as well. I am -47 pips on this one and I am not very sure about the result of this one because of the close on friday... I am in with 2 micro lots according to my MM.

April 18th - another weaker week

...stagnation continues, the account was not growing this week, actually it went lower a bit. There were 13 trades, 6 wins 7 losses. The next week should be positive again:)

My money management

As I said in my earlier post, the money management is the most important thing in trading... I will not write long theoretical stories here, there are tons of material on the internet (forexfactory, babypips - great site, informedtrades, and so on).
But the core is, that you don't need a 95% winning rate to make money. My winning rate right now after 152 trades is a little bit less than 60%... average win is 28,18, average loss is 29,78. If you multiply 28,18*0,6 minus 29,79*0,4, you get a positive number... and that is enough in a long run to make money:)
Second important thing is not to ruin your account. Usually, smart traders say, don't risk more than 5% of your account on a trade. I am not smart:) On one trading system, position trading (long term - days, weeks) I stick to the rule, so I never risk more than 5% of my accout. On the breakout system I risk 10% every trade though. It is not smart, it is VEEEERY risky and I DO NOT recommend it to anyone. I do it because I trust this system 100% and I know it works... When I grow my account to around 2000 USD I will probably lower the risk to 5%... I made and Excel sheet to count it for me as well as the risk reward ratio. Mostly people talk about how many pips they make a week or monthly... it really doesn't matter! What matters is if your account is growing. And if you trade 10 standard lots and make 20 pips, it is around 2000 USD. It is much more than 2000 pips on one microlot:)
I think that's about it...

April 10th statement

This week ended up to be a negative week. 6 wins, 11 losses... But that's the way it goes:) Stick to the plan, don't worry about the losses...

First picture is the equity curve, second are my open trades...

My beginnings

I first came across trading about 7 or 8 years ago. I started dreaming about becoming a proffesional stock trader. Quick money...and easy, that was my dream:) Probably most of traders have the same feeling at the beginning. And all traders that are succesfull now know, that this is nonsense...
I have spent thousands of hours reading stuff on the internet and on paper. I have also spent a few hundred or thousands of USD on several systems and signal providers. Never really sucessfull but not because the systems wouldn't work but because I didn't know myself and the biggest problem of my trading... which iiiis...... DISCIPLINE!!!:) And second biggest problem of mine is that I wanted to trade, not make money. It sounds weird, but I will say it again... I wanted TO TRADE, not TO MAKE MONEY... Those are two different verbs, two different meanings. I am not a native English speaker, but I sure could translate them into my language. But my brain didn't distinguish the meaning. A few months ago I did get it...wow:) Since then, I DO MAKE MONEY. I also trade, but less...
I only trade Forex now. It suits me the best. I also trade two systems that suit me best...they suit my personality and I TRUST them... That is the second most important thing in trading - PSYCHOLOGY. You have to trust your system. You have to accept losses and not get crazy about wins. And you have to stick to the rules...
The first and seriously the most important thing is MONEY MANAGEMENT... Of course that is only my humble opinion... but taken from other more experienced guys:) About my MM next time...

First account statement...

I started in January 26th with less than 200 USD... after 2 months, it looks like this..

My first Blog post:)

I have started trading for real a few years ago... but since January 2010 I am actually making money :)