Dubai Or To Sell? » Australia

One Down

dubaitrader — Tue, 22 Jun 2010 07:12:53 +0000

As I’m in blog mode I might as well post today’s result. A nice win early on and I’m glad the winning trade is out-of-the-way as the UK budget is released later today and god only knows what effect it will have on the market. I don’t believe the two timeframe method would have had this trade as I didn’t see a corresponding signal on 10 or 15 min timeframe. I took +22 as I felt if the down move came, it would test S2 as indicated by TESS and it was nice to be proven right with a fair-sized bounce coming off S2. A maximum of 28 pips was available after spread. Only 3 more of these and it’ll into profit for the week! Gulp!

Live

dubaitrader — Tue, 01 Jun 2010 06:39:27 +0000

Well after what seems an eternity, I am back trading live. I was going to start yesterday but a look at the Forexfactory calender saved my bacon as UK and US were both enjoying bank holidays. It’s been a very frustrating period but I’m glad to be back trading and it felt good to get the first win under my belt. I also sold 2 e-books this weekend which was a very pleasant surprise. As it’s nearly 6 months since the initial release, I’m in the process of updating it and adding in a further strategy in place of one of the originals. All members will be receiving this update within the next couple of weeks.

What I do not want to happen is the sheer cliffs of last time, I want to keep draw-down to a relatively reasonable level and avoid the severe swings I was enduring. A look back over my previous stats showed a loss of over 500 pips in unnecessary trades that were not part of any strategy other than greed and bad discipline. I’ve setup anoher Myfxbook page which I’ll add to the blog in the next fewdays. I have daily reminders to keep things simple and I plan on doing just that.

Here we go then!

Thousand Things

dubaitrader — Thu, 15 Apr 2010 09:47:14 +0000

I haven’t had too much time to trade this week with a lot going on trying to get everything organized for the move next month. My head is in a thousand places and it’s difficult to concentrate and it showed on Tuesday. A complete wash-out and a very disappointing result but Wednesday and today have seen my target met so I’ve quit whilst I’m ahead. I’m taking the dog to the vet this afternoon to get her rabies test done and a few other vaccinations that are required to be legible to enter Australia.

Amongst the list to do is to renew passport, organize garage sale, storage for items that we’re keeping and shipping, find a foster home for the dog and cats, the list just goes on and on!

I’ve noticed Cash-master is a running a trial of the upgraded The Ultimate Forex Predictor so I’ve decided I’ll run the same test following exactly his rules. My one hesitation is that the stop is always larger than the scalp meaning two losses and stopping will probably take 3-4 wins to recover. Anyway, should be an interesting comparison. I’m surprised he doesn’t use the pivot points available as I do actually find they are incredibly useful for exiting a trade or using as a guide to placing your stop-loss.