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Gav's trading blog - Perseverance, Consistency, Confidence

IHF

Weekly Wrap up

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Before I start writting about trading, I would like to let you know…I HATE SUMMER!!!!! I HATE SuMMER!!! I am baked in over 100 F or 40 degree Celsius for the whole week. And , the best situation is..I do not have air conditioner in my apartment.Well, … I HATE SUMMER!!

Alright, let’s get back to business. Another busy week for me. Trading front, I opened few trades from IHF(read: I-Hate-Forex) system, new sDT (read: Spot-Da-Trend) system. What is the main problem of the week? Trade management. I should admit that I felt lost looking at the positions. To make it worse, I started my mulitple entries method (i.e dividing the risk level, and getting into a trade in different point, tell you what, I just love this strategy). I have plans for everything, but, I was kind of over estimating myself. I was monitoring different systems, positions, figuring out position size, moving stops blah blah blah…etc. And making mistakes here and there. Everything was a mess. Messing up with my plans. See, with a plan is not enough.

Anyway, the solution is simple. Cutting down the number of trades next week. Now, it is not only about making good trades, I gotta make sure I am managing my trades well. This is a different skill set. Brothers, trading is really not only about entry and exit.

OK, in case you are interested to know, I am holding Long positions of NzDJPY, USDJPY, and Short position of EURCHF at the moment. I can see the bloody future of my NZDJPY position. 😆 Rally of Yen is killing my positions now. I will just need to bite the bullets now.

Btw, I thought Million dollar traders by BBC is pretty interesting. Check it out.

Weekly wrap up

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This is the week of USD. And this is the week of President Obama. IHF (read: I-Hate-Forex) system ran wild with Long USDCHF, Long USDCAD, Short EURUSD, Short AUDUSD, Short NZDUSD (after long NZDUSD stopped). All winners. All positions are closed. Some signals were deliberately ignore on Thursday session, as yours truly, the brilliant Trader Gav felt dollar was over extended, and refused to take on any risk to Long USD. 😆

Pretty quiet week for RDT (read: Really Dumb Trend) system. I have two signals at the end of Thursday U.S session. Short AUDJPY, short EURJPY. Something fishy going on with Yen. Yen is notoriously naughty to my systems. So, only AUDJPY position is taken with small size. So, right now, I am short AUDJPY.

Outside trading, my day job is coming to the end soon (bad timing huh). So I am actively looking for next project. In case you are interested to know, I am a very experienced Billing systems consultant (IT) for Telco or cable companies. Let’s see which country I am flying to later. It is not a surprise to see companies are struggling with budgeting problems, I expect a little more difficult to seal any deal. While confirming my next project, I am focusing on my automated trading system development project.

Life still goes on, trading still goes on well. Let’s see what market is to offer us next.

Hope you had a good week.

One Aussie trade

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Here we go. Another trade by IHF (read: I Hate Forex) system. AUDUSD short trade was triggered during Tuesday morning london session. Final profit target was hit, since I bailed it out at 0.65 level. Another nice shot, nice short. +111 pips.

Here is the chart to inspire you. Making good trade is good for your health, I reckon. 😆

aussie_ihf_trade

One Kiwi trade

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IHF (read: I Hate Forex) system went long of NZDUSD on Monday, and it was a crap. Stopped. And It went short on Tuesday. Another +130 pips trade. Nice short. Exited the trade at 0.52-ish level. Well, I maybe wrong, but who cares. Let’s wait for next signal.

Here is the chart to inspire you, my little trader.

kiwi_ihf_trade