Posts by sabitbol

September 2012 - Summary Finally a positive month at +3.5%. It was achieved by trading the 10/20 method trading off 4hr,1hr, 30m and 15m. It is by no means a exceptional month but definitely welcomed after 3 losing months in a row. I have tried to trade purely off daily charts but it just didn't suit me so I stopped. As planned, my account has now been funded back up to 5k for October as I have started to see some progress. The plan for October: 1- Trade ONLY the 10/20 method with higher TF confirmation as I have in my checklist 2- Focus on solid setups and good trade/risk management If I show consistency trading the 10/20 method and a positive monthly %, I will fund my account to 10k in November.

August 2012 - Summary Another month with a negative return. This 3rd month in a row showing a negative return took a toll on me and I decided to withdraw my funds. I have taken a small break and am now feeling better and slowly want to get back onto the saddle. I am planning to re-deposit funds again as I did in the past each month only if I show a positive return. I will trade only with 1k this month and then jump to 5k the month after if all goes well for September. The plan for September: 1- Trade pure PA off daily charts - Identify pairs in a trend - Look for entry on a pullback off key support - Use candle patterns to help confirm entry - Only look for the best setups 2- Try to continu using Simple7 off the 15min chart and see if I can find consistency and steady gains. This will be a attempt to see if I can attain a level of proficiency in making steady weekly gains scalping. Conclusion Look to find my way again back to profitable consistent trading. Trade a bigger account only if I can show positive monthly returns once again.

The month of June was closed off at about -6%. If my plan would have been correctly followed without any divergence, the month would have been closed at -2%. The month of July started off nicely but I have already diverted from my plan by not taking any trades on NFP when my setups occurred. I missed taking 3 trades (2 wins at 3% and 1 loss at -2%). Another divergence also occurred this week as well which in total has costed me so far +7% profit. Trading thus far is based on a 30k account even tho my account is funded currently at 50k. My intent is to reach about 5k in profit trading with 30k where I will then move up and start trading with the full account. My time has been spent thus far 100% studying technicals but I will now focus on studying trading psychology. Based on my discussion with my friend and fellow trader Alex, I am realizing that this is now where I am in need of a lot of improvement. The goal is to have the least divergence at the end of the month related to my plan and the psychology factor I believe is now what is holding me back. Now reading book "emotion free trading". A MAJOR lessons learned thus far: Place trades, set price alert notifications for pre-defined levels and STOP looking at running trades afterwards. This method will help me detach myself from the trades so I can better hold the trades until the intended target profit level.

2012-06 Theory - Account should be at +7% Reasons for deviation: - 2 Lost trades attempting to trade 4 currencies simultaneously. Risk was too high so dropped to 2 currencies - 1 Missed winning trade opportunity (3%)