Boy this was a turbulent week. I’ve come out on top for now in my manual trades and Green really have been helped by the decline in AUDNZD that followed the rate decision from the RBA on Tuesday. The huge drop in EURCHF as SNB stopped selling CHF at a fixed rate sure didn’t thou. Two of my accounts (Alpari UK and Forex.com/UK) is in deep drawdown now with a majority from it in long EURCHF and some is trapped in EURCHF hedges put in too late (IE price have reversed since opened).
Total gain over the week was $2033.47.
Read more…
This is not funny but again my scalpers failed and my manual (and long term) strategies gained. I’m starting to see a pattern…
AUDNZD really is behaving strange I think as it has descended substantially towards the 1.27 level during last week. gain by it, but I don’t understand the motivation for a 500 pips lower valuation now compared with just three weeks ago. In my view nothing new of worth has come out of either Australia or New Zealand to motivate this huge drop, that doesn’t even seem to be stopped yet. Tonight there is a new RBA meeting and it is expected that they hike the rate by another 0.25%. That should of course send the AUD higher, but who knows right now. Seems that the market isn’t expecting a rate increase (as prices have been falling) but still this is what analyst sentiment is indication. IE, what happens if the rate is untouched? Even more downwards movement? Or is it fully priced in all ready? I have no idea, I just trade my simple system right now. 
Total gain over the week was $108.20.
Read more…
This was another terrible week for the scalpers, especially Thursday when Forex Shocker and MegaDroid really wrecked havoc. Other than scalping this week was okay. Green didn’t make much since price was out of range most of the week, but my manual trades in AUDNZD got nice results (the same strategy that Blue is / will be based on).
Total gain was $436.41.
Read more…
I’m terribly late with this update. It was a terrible week so I haven’t had any motivation to write about it, but the idea with this blog is to force me to analyze performance and think about past results. So here is the post. The losses are in a great part due to a human mistake (mine). Like I wrote last week I put the wrong stoploss level in a lot of my hedges in AUDNZD, I set 1.3020 instead of 1.3120, losing me 100 pips in quite a few trades.
Also my scalping at JadeFX primarily (my main account for this kind of trading) was not very successful, a first for 2010 actually. Hopefully it recovers the loss in the coming weeks.
Total loss over the week across all accounts: $1775.40. Just terrible.
Read more…
Week 14 was really dominated, for me, by the rate hike decided by RBA which shot the AUDNZD above 1.32 again. This time I hedged my positions thou and closed the hedges on the way down. I had some left too long thou, which cost me dearly in the end. I miss placed the SL on quite a few trades so that they were not closed at 1.3120 as intended. Clumsy me put them at 1.3020. A very costly error (that will show even more in next weeks update). Mea culpa, no one to blame but me.
Total gain over the week was $228.28. Next week won’t be so nice thou, since a lot of the hedges are still open and in the red.
Read more…
I just realized that I didn’t make a weekly update during the Easter holiday. I was extremely busy during the weekend and it was a really welcomed break from work and trading. Because of the Holiday I only let my scalping EAs trade Monday and Tuesday.
The AUDNZD and EURCHF gave me real problems again. Both pairs trended outwards, minimizing my margin once again. One positive action was the massive selling of CHF the SNB shocked the market with on Thursday afternoon, catapulting the EURCHF up 240 pips. The AUDNZD trended higher thou as the market anticipated a rate change of 0.25% from the RBA (which was fulfilled after the Tuesday meeting).
Total gain over the week was a meager $62.69.
Read more…
Another interesting week. It is really addicting to watch the charts and account statements nowadays. EURCHF is still plummeting as a result of worries for the PIGS debt situation, and it will probably take a while to restore faith here. Especially since a lot of the debt had been hidden by sneaky bankers (in both the EU and the US). Makes us wonder if really everything is on the table now. But eventually there will be a resolution to the debt crisis, even if it means that some of the PIGS is forced out of the Euro.
AUDNZD seems to have recovered a bit (trading below 1.2850 right now), but I fear it is just temporarily since there really haven’t been any news out of NZ that is supporting a higher valuation of the NZD vs the strong AUD. I still fully expect the pair to trade in the upper range until the rate difference is reduced or even zero (right now the difference is 1.5%).
Other than the AUDNZD and EURCHF I’ve been manually trading a bit in EURCAD this week. The EUR is weak and the CAD is steaming which makes it quite easy to spot the trend. Check the accounts below.
Read more…
Another trading week closed. The movement downward in EURCHF is putting some serious strain on my Alpari UK and Forex.com/UK accounts. AUDNZD moved down to, and even below, 1.29 this week which really helped my CFX account. I have some open buy positions caught up there thou, didn’t expect it to reverse quite so quickly. Read more…
This week most of my profits actually come from manual trades, as opposed to automatic ones that usually make up 100% of my trading. I am by no means a manual trader, but I have been making some manual buys in AUDNZD as hedges to my open positions. I still have a few open (that is negative now, but I’ll keep them til we’re at 1.2850, which feels “safe” or hits 1.31 again).
There was no trading on my JadeFX account this week as it has been moved to the new liquidity provider. I’ve gotten a new VPS from Jade, which now sports 2 gig ram instead of 1 gig, and have been demo trading from it during the week. I will keep demo trading only today and start easy with just a few charts live tomorrow. Read more…
This must have been the hardest week of my brief Forex trading career. As AUDNZD rose well above it’s 10-year high the two biggest accounts below was stretched very thin. The account at CFX was just a few hundred dollars away from getting positions stopped out, luckily my deposit from the week before eventually made it there, in time for the push above 1.31. Because price is above 1.2967 (which I used as trade cutoff) those accounts really haven’t been trading much last week. Read more…
