Currency Futures Trades for 2014

proTrder

Junior member
14 0
Hello Traders,
I have been trading currency futures for the last three years. With only a few good months here and there and some breakeven, generally speaking, for the most part, every year my account closed with a loss. But my trading skills has improved a lot and I was able to avoid a losing cycle when I follow my rules. So, beginning this new year, I should have a winning year as a whole, not just a few months of winners. My rule number one is to follow my rules. So, to help myself and become a responsible trader, I will be posting all my trades by end of week. My goal is to average 5p/day/25p/w and 100p/m.

Good Luck to all of us!
Thanks!
 
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proTrder

Junior member
14 0
Hey Traders,
It was a great first day trading of the year for me this morning. I love it when the markets move quite a bit overnight which gives some room to trade. :cool:
 

proTrder

Junior member
14 0
No sweating bullets this year as I try to make a small gain - 5p/day or average 25p/wk. 20% of my strategy is to trade a swing when I notice a big move is happening. As of last Friday, I took a long position on USD and letting the profits run. This is one of the rare situations that I hold a position over the weekend. I don't plan scaling in or out of trades. If a trade looks high probablity I am all in and all out when I am wrong.
Cheers!
 

DowJones

Experienced member
1,073 391
Hello Traders,
I have been trading currency futures for the last three years. With only a few good months here and there and some breakeven, generally speaking, for the most part, every year my account closed with a loss. But my trading skills has improved a lot and I was able to avoid a losing cycle when I follow my rules. So, beginning this new year, I should have a winning year as a whole, not just a few months of winners. My rule number one is to follow my rules. So, to help myself and become a responsible trader, I will be posting all my trades by end of week. My goal is to average 5p/day/25p/w and 100p/m.

Good Luck to all of us!
Thanks!

Hi proTrader, I sympathise with the steep learning curve (having been through it myself). However, credit to you for your honesty and perseverance - both are traits that will serve you well if you want to continue with trading as a career. As a fellow currency trader I wish you well for 2014.
 

wackypete2

Legendary member
10,229 2,053
Hey Traders,
It was a great first day trading of the year for me this morning. I love it when the markets move quite a bit overnight which gives some room to trade. :cool:

Philadelphia Eagles fan?

GO EAGLES!

Good luck to you in 2014 :)

Peter
 
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proTrder

Junior member
14 0
Thank you guys.
I don't know about you but for me, this year got to be pay back time! I just love Eagles as a great bird that owns the sky and superior hunting skills with precise timing.
:)
 

proTrder

Junior member
14 0
Here is a recap from my last trade. I usually don't like trading swing overnight especially on weekends. As I mentioned, I had a long USD and I was in the money. Then I decided to hold but the reversals took my stop out to breakeven early this week after holding on to it for a couple of trading days. You see, I should have taken the profit on Friday and done with it. Wasted two days because I was stuck in the open position and lost some good trading opportunities. Later on, I was able to make a nice run going long USD during the ECB rate decision on Thursday. And this Friday morning I traded NFP and made some extra pips going both long and short the EUR. But my Friday trade was more of a defensive to keep my winners for the week. Now, I am three weeks ahead of the game pip wise for this month. Not bad for a start huh? I am usually like that where I would hit my monthly target in a week but then problem comes later on when I deviate from my rules. But this time I hope it is different.

Plan a trade and trade a plan.
Nice weekend!
 
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proTrder

Junior member
14 0
It was great week for me again. Actually better than last week. Most of my pips was made on Wednesday and Thursday. Yesterday for example, when the CPI data came out, I quickly bought EUR at 1.36 and sold at 1.3640. This morning, I sold the EUR again and my target was 1.3550 but had to bail out at 1.3556 for a quick gain. I get more defensive on Friday's to keep my winners for the week. I am done for the week and I have made 162 pips for this month! My goal is to make 5 pips/day, 25p/wk. I am way ahead of the game. It is nice to have some cushion although I don't expect anything bad to happen because my number one rule for this year is NO TRADE WITH OUT A STOP! Like Larry Williams once said, "They can have my money but can't have me!" Losing without a stop messes up my head and puts me back in to a losing cycle! I know how it feels and I don't want to go back there again. I am done with that cycle. Trading with a STOP, I am doing better than expected so far! But there are some things I still need to work on like being more disciplined.

Have a great weekend!
Cheers!
 
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proTrder

Junior member
14 0
What a great week again this week. Big moves in the market led to big opportunity. I was up 30 pips early in the week and went on gaining more pips as EUR headed towards 1.37. Over all I made 102 pips this week alone. My profit target is only 25pips for a week but letting the winner run is where the big win comes from especially, in a week like this when price moves big time without news. It was purely on technical levels. Early this week, the weekly chart on EUR was screaming to go up, I had a long bias on the EUR early on and was trading on the right side.

We may have some rebound on the USD next week. I don't see the EUR trading above 1.3750 but who knows, the market does what ever it likes to do. We just trade with it.

Have a great weekend!
Cheers!
 
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proTrder

Junior member
14 0
Here is my Friday update and end of month update. I had a very erratic Monday and gave some of the profit. The market was choppy and I was not trading properly. I was a bit euphoric from all the pips gained from the prior 3 weeks. I kind of over traded a bit and had a series of small but controlled losses. As the week progressed, I had anticipated a nice move on Wednesday on the FOMC announcement but again the trend did not unfold as I anticipated and by far it was one of the lame moves I ever seen during announcements. Today, Friday was my best day of the week and was able to ride the USD uptrend this morning. Overall, I closed the first month of the year with a BIG win by surpassing over my profit target.

I am laughing all the way to the bank!::LOL:
Have a nice weekend!:cool:
Cheers!
 
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