State your trade

**dragonz** · 14-01-2011, 09:40 PM

Just a thread for those who might like to share their trades. I've been trading forex for about 8 months but seriously for the last 3 Months. November was good with +800 pips, December not so good but still in profit +80 and so far this Month I’m up 746 pips. Spent more then a year learning everything I could about the technical aspect and recognizing patterns, levels of resistance etc but to be honest I rarely use technical’s now and have a system that’s based purely on mathematics. I’m a momentum trader. Only trade 3 currency crosses and happy and familiar with the micro, macro fundamentals and the technical side. Not interested to discuss my system however in detail.

I know it’s only been 3 months but feeling excited about forex thus far. Once I get 6 months positive trading then will move more capital. My goal is to be earning approx. 5 grand a week by the end of next year. Of course I could crash and burn and have egg on my face but hey "God loves a trier".

Currently my risk is between 1-2% of capital per trade and my drawdown between 5-10% over all trades. I'm happy with this as in theory I would need 50 losing trades in a row to go broke.

OK I have 2 trades running at the moment

AUD/USD short @ .9955 (x 2 contracts)

EUR/USD long @ 1.3425 (x1 contract)

**dragonz** · 14-01-2011, 11:19 PM

OK just closed AUD/USD @ .9881 for +74 x 2 contracts = 148 pips

**robo** · 15-01-2011, 01:09 PM

Hi Dragonz

So how did you learn the skills youve got , do you have a finance background, I would be interested to know how youve got to this stage

Rob

**denpal** · 15-01-2011, 06:27 PM

what platform are you using dragonz? can you go long and short at the same time ie a straddle without one cancelling out the other?

**dragonz** · 17-01-2011, 11:19 AM

Hi Robo. I've traded shares for years but have always had a keen interest in the techinacal aspect of trading. I set about finding a system that could return about 400 pips per month. Spents months and months looking at charts. I am happy with what I've got now, however its early days yet. I'm curious to know how many others make regular returns from forex.

**dragonz** · 17-01-2011, 11:22 AM

Originally Posted by denpal

what platform are you using dragonz? can you go long and short at the same time ie a straddle without one cancelling out the other?

I use IG Markets. You can run both long and short trades without one canceling out the other. There is a "force" option that you just tick so your not canceling out any exiting orders

**dragonz** · 17-01-2011, 03:36 PM

short AUD/USD @ .9875 x 2 contracts

still have EUR/USD long open from Friday.

**peat** · 17-01-2011, 03:45 PM

dragon I am short Euro
I built up these shorts on the Euro over last few days but still my average is out of the money at -74 at current price of 1.3335, as it falls I close out some of the profitable trades , as it rises I sell more. trades are small enough that I have a lot of flexibility to continue to do this.