The Daily Trade – Weekly Review (20/8/2012)

Filed under: Live Trades |

From now on, I have decided to use My FX Book to proof all of my trades at:

 

http://www.myfxbook.com/members/jjrgaskell/daily-trade/357261

 

Figure 1.

As it is a lot of trouble to work out a different bank percentage, I will just be using the exact figures published on this site – which actually, is a more reliable and valid way of doing things. The trades are based on a 2% risk level, rather than the 1% that we had been doing.

 

As you can see, there have been a series of three waves in my trading bank since I opened the account on January 1st 2011. During the first wave, I had been testing a system that I had bought – and it didn’t turn out too well. From June 2011 (which also happens to be the low of the chart), I started to use the account for my own price action trades. As you can see, things started to pick up from this point onwards.

 

However, we have had quite a bad time of it the past couple of weeks, and have experienced a nasty drawdown. The good news is that the maximum drawdown on this account has been a manageable 21.42% – and we are currently in profit to the tune of 4.38%, despite this heavy drawdown. Hopefully, the next wave of profits will begin from here on in.

 

We do still have a longstanding trade open on the exchange rate for gold, and this is currently carrying another loss, but it could still go either way. I will be concentrating more on a breakout strategy in the coming weeks, as the contrarian trades are very difficult to get right. I will update you again in a week’s time – but in the meantime, please feel free to check in on my account and my trading activity at:

 

http://www.myfxbook.com/members/jjrgaskell/daily-trade/357261

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