11:30AM

Good morning everyone. It is indeed a very good morning again today. The weather is very nice it makes me wanna crawl in bed again. This morning I traded the Tokyo session and made 2 cents from +20 pips of profit. That's enough for this session. I will try to trade the London session later if I can because I'm going out to watch Transformers (Revenge of the fallen) with my wife & son.

This morning's trade screenshot as below.














11:30PM

At 6:19PM a short position was opened. I closed the position minutes later with only +10 pips of profit and a 1 cent gain to the account. It's quite difficult to know what's going on with the trade without my computer as I can't see the whole picture. I had to close the position using my phone via FXTrade Mobile. You see at that time I was watching Transformers in the cinema and not much info was available on the phone. So, I'd rather not risk it and just close the position.

Two days tally of 60 pips is not bad at all. Let's see what tomorrow will bring me.

10:30AM

Good morning guys. Its such a lovely morning here in Brunei. The weather is just nice and not too hot like most previous mornings. I'm hanging out at my usual haunt in town and doing some trading.

About 30 minutes ago I shorted Cable at 1.6456 with a target of 20 pips. The position as of now is still opened with a floating -8 pips. Lets see if this trade is going to make this week a good start.

02:45PM

The above short position hit TP just 10 minutes ago taking in +20 pips of profit. The account balance is now $0.36. Well, it's a good start for the week alright. In 15 minutes time the London session will start and I will set up my next trade then.

03:35PM

03:19PM - A Long position was just opened at 1.6518. Initial TP is to be 100 pips. Two and a half hours from now, I will close the trade no matter where the price is at if the TP is not yet hit.
I'll be checking in again later.

06:15PM

I've just closed the Long position at 1.6528 with only a +10 pips profit. I don't know where the price is going to go next. but from my indicators it seems like its going up. If it went further up and break through resistance at 1.6663, it could go all the way up. Anyway, the account is only up 1 cent to $0.37. I have to maintain my discipline and open or close my positions according to the strategy. Tomorrow will be another day.

Today's screenshot as below.













Trade Well.
Juf.

03:18PM

8 Minutes ago I opened a Long position at 1.6449. I've placed the take profit order at 100 pips which is 1.6549. Stop loss is set at 1.6369 which is 80 pips from entry. A pending sell order is also set at SL level just in case price reverse. I will close the trade at 6:00PM if TP is not yet reached and no matter where the price is at that time. Let's see if today's trade is a winner.

04:43PM

The above log position is still open. I've changed the Take profit level to 1.6529 which is 80 pips above entry.

07:38PM

Exactly 6:00PM or about one and a half hour ago I closed the long position at 1.6493 with a 44 pips profit. The acount balance is now $0.34.

Last week was disastrous, but this week is ok. I managed to get about 23% ROI from the previous week's balance. After 4 weeks of trading the total ROI is 51.37% or an average of nearly 13% per week. Now that is a good number. At least it beats putting your money in your savings account and hope to get 2% to 5% per year. Think about that.

Well, see u guys next week. Have a good weekend.
Juf.

10:10AM

I apologize for not updating the blog this past week. A lot has happened with some wins then some loss and in the end I'm back to square one with $0.23 to my account balance.

Well, at least I'm still in the game though as a really small player. But nevertheless I will try to grow the account until I can't anymore. I am still confident though that I can turn things around and be profitable. Just wait and see.

Happy trading.
Juf


03:12PM

The London session had just started & I also just opened a short position of 7 units at 1.6398. My take profit order is 100 pips from entry. 3 hours from now I will close the position if the 100 pips target not reached & no matter if I have positive or negative pips.

Will update again soon.


06:17PM

Two and a half hours after the short position was opened, it hit TP for a 100 pips profit. The account balance is now $0.30. Sorry no screenshot today.

03:16PM

About 4 to 5 hours after the horrible losing trades yesterday I opened two more short positions. The first was a winner with 50 pips of profit that saw the account balance rise to $0.82 cents from $0.71. But the second was a loser with -30 pips that saw the account balance went down to $0.74.
I will not go into details. I just want to let the past be the past.

Anyway, today a Long position just opened 6 minutes ago @ 1.6459. I've place TP @ 1.6489. We'll see how it goes from here














06:00PM

I just came back from doing a bit of grocery shopping. Switched on the computer expecting a nice increase to the account balance but lo and behold it displays $0.34. This means only one thing, I've been stopped out. I checked the charts and the price definitely went South. Well, this is a first for the strategy. Two weeks of good trading marred by a single loss. I know what you're going to say. My money management sucks. Actually, since I got nothing to lose, that is why I'm risking more than I should as I am now trading super micro lots, so what the heck.

Ok. that's enought for today. I have to start over again with $0.34. Still its better than nothing.
Sorry, no screenshot. Just too upset right now....no, I'm just kidding. I have to think positive, right?

Hope to see u guys tomorrow.

01:30PM

I'm very much upset and angry with myself today. I had 4 impulse trades that did not follow the strategy with 2 of them losses and 2 break evens. I thought I could corner in some pips to increase my account balance, instead I lost 67 pips and it cost me 17 cents which lowered my account to $0.71. This weeks plan is a bit ruined because I'm now coming in short of the weekly target.

Well, I get what I deserve for not maintaining my discipline and for not just trade with the winning strategy. I've learnt my lesson now and hope this will not happen again in the future.

Anyway, the set up for today's trade using THE WINNING STRATEGY is not yet met, so keep an eye here for some winning updates later.

Below is the screenshot of the horrible losing trades that I made recently.

06:30AM

The trade from last week (12June) was finally closed yesterday with a -30 pips loss. The loss was not because of the strategy but because I just want to cut my losses so I moved the stop loss to a reasonable amount. Well, its better 30pips than 90 pips loss.

Anyway even though I lost the 30 pips, I gain it back later in the night with a 30 pip profitable trade.

Below is the screenshot from yesterday's trade.













05:31PM

Today I only make one Long trade and the trade was over in just 3 minutes just half an hour ago. +30 pips of profit was made from the trade and the account balance is now $0.88.

See you guys tomorrow.

11:30AM

It's Saturday and I hope everyone will be enjoying their weekend.

Today my post will be about two things most traders are guilty of; namely Fear and Greed.

First I want to recap about the trade made previously before yesterday (Thursday). My instincts went off the roof. I should have just let the trade be with a TP of 100 pips and it would have hit nicely. But fear of losing those quality pips already reached made me close the position early and ended up with just 50 pips of profit. Well, 50 pips is still not bad but I could have got 100 instead.

Secondly, I want to talk about yesterday's trade. I had four short trades executed yesterday. Two of them ended up being break evens, one of them made me 20 pips and the other is still open with a floating -90 pips in the red.

Let me talk about the first two break even trades. Both of these trades initially would have harvested +40 pips each if I has set my TP but due to greediness I let the profits run assuming that GU will go down further and moved my stop loss to break even. Well eventually GU did went down but only after it retraces and hit stop loss on both occassions.

The third trade was opened using the same scenario but now I wait for the price to go down to almost 40 pips from entry and then I move the SL to a guaranteed +20 pips of profit and hoping in will run much further. Unfortunately the price retraces and hit the SL.

The above three trades are not using the strategy that I have been using this past two weeks.
However the fourth trade is but then again I changed the target limit from the usual 30 pips to 50 pips. I guess I was not satisfied with the previous three trades and thought I need to teach the market a lesson. Alas, I am the one that learnt a lesson here, that my greediness can attribute to my downfall.

Anyway, the fourth trade opened nicely. It went down and touched the 30 pips mark if a TP order was put there. But as soon as it does that, GU went straight up and up and up and I nearly got a margin call. I was up all night thinking what went wrong but then realized my own mistakes and had to cope with it. As of now the trade is still open going into the weekend. I decided not to close it yet and see what happens when the market opens.

Sorry guys, I cant post any screenshot as I cant log in to my account. I guess the server is under maintenance as usual during the weekends.

To sum it up, I just want to say that even though I am sometimes fearful of my trades and greedy on the outcome, I realized now that I have to maintain my trading discipline and would be more better if I am Fearful of my Greed instead.

Have a nice weekend.

05:00PM

A long position just opened @ 1.6478. TP is set at 100 pips. If the price went up to 30 pips or more I will set the SL (stop loss) to break even and let it ride to TP. If TP is not reached by tomorrow then I will close the trade to whatever the price is at the time.

Oh...by the way, today is my 7 year old son's birthday. I wish him to grow up and be like his dad. hehe.


11:59PM

Another minute to midnight. My trade Is slowly going to it's +100 pips mark. The SL have been set at break even. As shown in the screenshot, the SL is the red line and TP is the green line.














00:20AM 12June 2009

Sorry guys. I guess I'm still not that emotionless yet. Well 18 minutes since I post the above, the price went down slowly instead of going up. It's midnight, I'm tired, exhausted and want to go to sleep. I'm afraid the market will go against me and I will lose quality pips. So the next thing I knew I press the close position and have to be happy with a +50 pips of profit. Still, winning is winning. Hope my instincts are right this time,

Good night everyone.

08:45AM

Yesterday, I didn't get the chance to post my trades here. Anyway, yesterday's trade was a bit bizzare. My initial entry was missed and I had to enter where the price had already gone up by 30 pips. Though the strategy was compromised fortunately it went my way and I gained another +50 pips. I also gained 8 cents from the trade as shown in the screenshot below.

The first few hours were agonizing to watch as the price went down. So what I did was switch off the laptop and took a nap. Five hours after entry it finally hit TP.













02:30PM

Today I will make two trades. The first trade had just won me +20 pips and the trade only lasted 4 minutes. Anyway, my account balance have increased to $0.62 from the previous $0.59.
My next trade will be on the London Session which will open in about half an hours time.













08:54PM

The second trade today was a near heart attack. hehe.. Immediately after a long entry @ 1.6428, the price went down to almost -100 pips of floating loss. But I am truly confident of my strategy and after 3 and a half hours the price slowly climbed and hit TP for a 30 pips profit. All well ends well and here's the screenshot to prove it.












Good night everyone.

01:00PM.

The market looks like its heading for a bearish trend at the moment. So, I have made a pending order to sell GBP/USD at 1.5922. The order is not touched yet. But if it does, my take profit will be at 1.5902.

In case the market went North before touching my short order, I have also made a pending order to buy at 1.5985.

Update - 02:50PM

I just got back from buying groceries at the local superstore. Switched on my lappie, connect to the internet, logged into my Oanda trading platform and saw that the account balance have risen 3 cents to make it $0.47 from the previous $0.44. This means that one of my orders have been hit.

At 01:26PM (0526GMT) the sell order was filled and 38 minutes later my TP got hit for a 20 pips profit. I then proceed to cancel the buy order. I will open another trade later on the London session.

Update - 04:00PM

Well, today is another good start for the week. 30 pips more profit just grabbed making a total of 50pips for the day. Account balance went up to $0.51. I'm done for today as my daily target already reached. Next trade will be tomorrow.

Trade well guys.

Below is a screenshot of the 50 pips just harvested.

Today's Trade

About an hour ago I went short at 1.6089. 20 minutes after the short order opened it reached my target at 1.6069 for a +20 pips profit. Thats a good start for the 1st trade of the day. I will be placing another trade shortly.

For those who don't know, I only trade Cable which is the GBP/USD pair. An update on the second trade will be posted in due time.


Update 05:44AM ( 06 June ) :-

I was about to update the blog last night but the missus want to use the laptop. So I went to sleep instead..

Anyway, another winning trade of +30 pips ended my week without losses. Out of 11 trades opened, 9 are winning trades and 2 are BE's (break even).

I'm on to something big here because this is also a record for me, that is having straight wins this long. We'll see if this keeps up come next week and the weeks ahead.

I attached a screenshot of today's trade. The acount has grown from $0.22 a week before to $0.44.

Yesterday was a great day. I won another 50 pips making my total pips harvested for this week so far to 200 pips. My account balance also went up to $0.38. I have attached a screenshot of my Oanda's trading platform which shows yesterday's trade.

The arrow downwards indicate a short order opened. The green dot indicates a take profit (TP) or target reached.

A Fresh Start...

Hi,

Among my circle of friends I'm known as Juf. To those who knew me or my previous blog, it's great to be back. Hope I'll be staying longer than before.

However this time around I will not be giving out any signals or trading systems. This blog will be about the trades that I made starting 01st of June 2009. This will be my journals; how many pips & how much I can make in a period of 6 months to 1 year OR if I can make it at all.

If you read my profile you can see that I only started with $330 in March 2008 and have not deposited any money since. I'm going to be blunt and honest here. My account balance have it's shares of ups & downs with the ups being nearly $500 near the end of last year and an excruciating down of being depleted to almost $0.17. Yes you read that right, my account was reduced to 17cents just a month ago. Luckily for me Oanda is a great broker that allows you to trade even with major micro lots and I am not going to deposit another cent as long as I still have money in my account.

I know some of you might find it ridiculous of me for even trying to make money out of 17cents. But hey, it's still my money and I don't care less to whatever or whoever makes fun of me. Anyway, that 17cents have grown to 22cents by last weekend.

So now I started fresh with 22 cents as of 1stJune2009 and until late last night (Wednesday) my short position closed and my account balance grew to 33 cents which is up by 50%. Since Monday I have made 7 trades with 5 won, 2 broke even and no losses for a total of +150 pips.

So, it's up to you guys to either follow my journey or delete my website altogether from your database. But I am confident of my strategy to take on the market now than ever before that in 6 months time I am going to show you that nothing is Impossible especially when you trade the Forex market.

Trade well.
Juf,
The Pip Master.