TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

Blog and Rants

My MP3 day

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poundsterling.jpgAfter the “kinda frustrated..” day, I am having a “kinda happy” day. I have finally achieved my 100-pips day. In fact, I am up 200 pips today.
It is time for me to get my MP3 player, it was the reward I set for myself when I achieve a 100 pips day.(still IPod or Creative Zen?..)

A hit or miss game
I was surprised by the sell off of GBP crosses. I mean, I was surprised by the speed of sell off. I woke up in the morning with full of confidence to short GBP/JPY, and of course, my darling GBP/USD. I was trying to Long EUR/JPY as well. There were some buying during Sydney hours , but tone changed when Japanese was greeting Ohiyo(Good morning in Japanese, in case you are confused) to the Forex market.

I found myself exiting position prematurely yesterday due to some fears in me. I knew it was a mistake and a problem. Today I decided to close my trading screen after putting in profit target and stop loss orders. Long EUR/JPY was stopped out, and I went short at the same time.
Market was in selling mood, so all short positions were covered by take profit orders.

More works need to be done.
I am not sure if I can close the week with positive note, but I am pretty comfortable now, I have figured out a lot of problems and refining my trading plan along the way. It takes tons of effort to study and refining strategy. It is really a different game to me. What works for me in futures market , hurts me in Forex market. Anyways, I am enjoying the learning process, and of course, the pips.

May the pips be with you.

Oh I forgot to mention ” The real man trades Futures, his son trades Forex, I am trading both, for my wife” 🙂

Google docs gets better – Now with charts

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docsslogo.gifI use to draft my trading strategies and keep my trading journals with Google docs and spreadsheet service. It just gets better. Now Google spreadsheet finally integrates charting service. I can plot my performance charts online. Though charting functions are still limited, it is good enough for keeping trading journal.

the company rolled out a new version of Spreadsheets today with charting and a few other worthwhile features. The free Web-based app is still more of a Spreadsheet Jr. than a full-bodied Excel rival, but it’s becoming more and more plausible as a real productivity tool, especially if collaboration is involved… full article here.

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Anyways, make sure you always keep an offline copy of your online documents.

Life is boring, human behaviours are amazing

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People are just too exciting to see GBP/USD crossed 2.0 level. OMG. This is how they celebrate. LOL, just kidding. But this news is ….errr..ridiculous

Woman accused of spraying cop with breast milk

An 18-year-old woman is to appear at Richmond Magistrates’ Court accused of assaulting a police officer with breast milk.

Felicha Marin, of Palmerston Road, in Acton, was charged with shoplifting and assault after being arrested on March 29.

It is alleged she was detained for trying to steal shoes from Lizard, in Hill Street, Richmond. After being arrested for theft she sprayed an officer with milk from her right breast.

Source from Edgware Times

Kinda frustrated…..

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I bagged some 60 pips profit from short EUR/JPY, and watching Short GBP/JPY reached 96 pips profit (target was 100 pips). I ended, losing 20 pips in GBP/JPY short position, and went long. And …I got stopped out by the wild 20 pips spread ! This is a shitty situation. I am fine with the vanished 96 pips paper profit, since I was targeting 100 pips, but, I just can’t accept my long position got killed by the spread.

Well, that’s the fact that I have to accept since I am trading with bucket shop.

On the bright side, GBPUSD hit 2.0, and I am holding long position. Let’s see if I can end the day with some good pips.

Dummy day trading #67,#68,#69 NQ Long trades closed

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I have made 3 long trades on NQ futures today, one during opening, 2 trades around noon time. Tough all trades were profitable with very small trades, I don’t feel I was making good trade. I failed to hold on winner which would definitely give me bigger profit.

End the day with +2.23 R gain.

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TradeStation Newsletter

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Interesting, TradeStation starts sending newsletter “ TradeStation’s Trader Digest & Weekly Newsletter” to customers. The first edition, they tried to explain/emphasize their ‘superior’ Data network.

Myth:
TradeStation’s market data lags the market.

Fact:
With all the users we have researched that have reported this issue, we have found that, in every case, the user’s computer has been unable to receive the amount of data the user needs at the rate at which the user needs it. The computer deficiency has been caused by any number of factors including computer hardware, configuration, internet/network connections or software that is loaded. As a result, this gives the user the perception that TradeStation’s data is slow.

Well, I don’t have too many complaints about TradeStation, though I do meet some hiccups once in a while, like frozen chart, hanging platform etc. I always feel amused when reading this kinda self-promoting newsletter. Maybe, they should work harder and build the reputation. Compliment from a real user worths more than 1000 issues of self-promoting newsletters.

Anyway, for day trading futures, TradeStation still provides me a good trading platform and a cost efficient package (competitive commission, lower data fee, free software when you meet trading quota , i.e 10 round turns futures trade). But, do learn some tricks from experienced users (like clearing the software cache frequently).