Archive

Posts Tagged ‘Weekly statement’

Discontinuing weekly updates for now

June 1st, 2010

I’ve been doing the same format of weekly updates for quite a while, and I feel now that it perhaps is best not to continue. I’ve been getting some negative attention from unwanted direction, and as I trade more and more manually (some weeks at least) there is no purpose to keep posting account balances I think.

I’ll keep posting of course, but I’ll try to write more specifically about a select EA or strategy and analyze its performance over time. Like this post about Forex Shocker.

Weekly update, Week 19

May 17th, 2010

This week, again, was dominated by news about the Greek debt situation and the crisis package presented by the Euro countries. I have long positions in EURCHF that is in deep drawdown now. I have actually hedged them to a large degree because the situation is so volatile. It seems the SNB is trying to defend the CHF at 1.40, but if history repeats itself this will be hard to sustain for them as EURUSD is going down still. They have tried to fix price at other levels before this spring.

Other than EURCHF it has been a good week with nice results from scalpers and AUDZND trades. Total gain was $1230.37.

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Weekly update, Week 18

May 8th, 2010

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.

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Weekly update, week 17

May 3rd, 2010

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.

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Weekly update, week 16

May 3rd, 2010

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.

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Weekly update, week 15

April 22nd, 2010

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.

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Weekly update, week 14

April 12th, 2010

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.

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Weekly update, week 13

April 7th, 2010

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.

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Weekly update, week 12

March 29th, 2010

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.

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Weekly update, week 11

March 21st, 2010

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…