JFonseca trading journal

[JFonseca]

Hi,

This will be my first Online Trading Journal. I will not post trade by trade, but will share sentiments and thoughts about my trades and the FX market.

I have a small, very small, live account where I can trade for 0,01$/pip.

I can tell you that I started this experiment (after 1 blown out account) on 02-March, and since then I made 108 trades, using EURUSD, GBPUSD, GBPJPY and EURAUD. 97 Longs, 11 Shorts, all winners with an average of 47 pips of profit, which trannslates in $51,36 of Profit. At the moment I have 14 open positions, 13 Long (all currencies) and 1 short (EURAUD), with a floating loss of $9,81.

That´s it for today,

JFonseca

[Niaoson]

I'm looking forward to seeing your progress! Nice 108 trades winning streak by the way :)

[JFonseca]

Hi,

At the moment I'm long on EURUSD, EURCHF, and GBPJPY, and playing 1 range, where I'm also long until it reaches the upper range limit: EURAUD.

:(My first loss was a long EURCHF, that got trapped with the 8:00 spike.:(

I've a floating loss of $25,40, but what I see in the charts is a small retracement before resume the up trend.

JFonseca

[JFonseca]

Total Trades......................129
Total Winning Trades...........128
Total Losing Trades................1
Total BreakEven Trades...........0
Max Pips Won.....................127
Max Pips Lost....................-157
Avg Pips Won.......................47
Avg Pips Lost....................-157
Interest Profit/Loss...........$0.04
Profit/Loss.....................$59.23

I closed the EURCHF long position in profit. I'm still EURUSD and GBPJPY long, and playing the long side of the EURAUD range.

For the month I've a 13,62% profit (Equity) and I've a $24,47 floating loss.

When I change my view of the market I'll say so, if I don't say nothing, that's because nothing changed.

[JFonseca]

Hi,

Some time has passed since my last update.

I finished March with a 2.64$ (0.9%) loss and April with a 43.35$ (14.8%) loss.

But I am now bback to profit.

Here it is the summary of my account since the begining (02-Mar):

Total Trades......................399
Total Winning Trades...........350
Total Losing Trades...............46
Total BreakEven Trades...........3
Max Pips Won.....................359
Max Pips Lost....................-745
Avg Pips Won.......................59
Avg Pips Lost....................-450
Interest Profit/Loss...........$0.20
Profit/Loss.....................$61.74

Wins 87,7%
Profit 22,3%

I´m AUDUSD, GBPJPY and EURUSD long and USDCAD short.

I think I'm finally in the right path to forex career. :)

Thanks for stopping by,

JFonseca

[Egwig]

May I wish you every good fortune, Fons.

Egwig

[JFonseca]

Hi,

YESSSSSSSSSSSS!

Finally my first positive month.

Here it is the summary of my account since the begining (02-Mar):

Total Trades......................435
Total Winning Trades...........385
Total Losing Trades...............47
Total BreakEven Trades...........3
Max Pips Won.....................359
Max Pips Lost....................-745
Avg Pips Won.......................57
Avg Pips Lost....................-444
Interest Profit/Loss...........$0.42
Profit/Loss.....................$82.46

Wins 88,5%
Profit 28,1%

I´m AUDUSD, GBPJPY and EURUSD long and USDCAD short.

I think that now is a good moment to start to share my results for my live trading (the results before March 2009 were in my LIVE account which I blew up):

Out-08 2,4%
Nov-08 -46,7% :mad:
Dez-08 -37,5% :mad:
Jan-09 -0,7%
Fev-09 -0,3%
Mar-09 -0,9%
Abr-09 -14,8%
Mai-09 :p 43,8% :D


Thanks for stopping by,

JFonseca

[beaker]

JFonseca,
Congrats with your results !

Can you share the rules of your system ?

[JFonseca]

Hi Beaker,

My system is very simple. I buy when the price is High and close the position when the price is Higher, and sell when the price is low and close the position when the price is lower. ;)

The truth is that in these last years, since I discovered FX I tried real hard to find te Holy Grail, because I was almost certain that it could be found, and that EAs and Technical Indicators were the the right tools to find it. This search only brought me failure (blown out account) and dispair. I made a few months of pause im my trading (demo and live) and started again a few months ago. Since March I got rid of ALL indicators and trade only based in Price Action and S\R levels. This method seems to be the right way of trading for me. Now I only need to get more disciplined with my Money Management, because I still brake my own rules sometimes :mad: My main goal is to being able to have a maximum risk per trade of 2% and to grow consistently my mini account for at least 10 of 12 consecutive months. If achieve that I will deposit in my Mini account the same value that I earned in that time. And then the process starts again.

My cumulative results so far:

Total Trades......................609
Total Winning Trades...........529 (86,9%)
Total Losing Trades...............76 (12,5%)
Total BreakEven Trades...........4 (0,6%)
Max Pips Won.....................359
Max Pips Lost....................-745
Avg Pips Won.......................54
Avg Pips Lost....................-355
Interest Profit/Loss...........$0.31
Profit/Loss....................$221.19 (75,37%) :D

Many pips to everyone,

JFonseca

[furman]

Originally Posted by JFonseca

Hi,

This will be my first Online Trading Journal. I will not post trade by trade, but will share sentiments and thoughts about my trades and the FX market.

I have a small, very small, live account where I can trade for 0,01$/pip.

I can tell you that I started this experiment (after 1 blown out account) on 02-March, and since then I made 108 trades, using EURUSD, GBPUSD, GBPJPY and EURAUD. 97 Longs, 11 Shorts, all winners with an average of 47 pips of profit, which trannslates in $51,36 of Profit. At the moment I have 14 open positions, 13 Long (all currencies) and 1 short (EURAUD), with a floating loss of $9,81.

That´s it for today,

JFonseca

Hi J, which broker do you trade with that allows such a minute lot? What is their initial trading deposit like, and more importantly are the regulated, if yes in which conuntry?

[JFonseca]

Originally Posted by furman

Hi J, which broker do you trade with that allows such a minute lot? What is their initial trading deposit like, and more importantly are the regulated, if yes in which conuntry?

Hi,

I'm using IntebankFX, it's regulated and their HQ is in Salt Lake City. I'm using it for almost one year and I don't have any complain. Their Client Services are very good.

JFonseca

[furman]

Hi J, Thanks. May be I try them out

[JFonseca]

Hi,



Here it is the summary of my account since the begining (02-Mar):

Total Trades......................666
Total Winning Trades...........558
Total Losing Trades...............104
Total BreakEven Trades...........4
Max Pips Won.....................359
Max Pips Lost....................-745
Avg Pips Won.......................54
Avg Pips Lost....................-284
Interest Profit/Loss...........-$0.25
Profit/Loss.....................$37,04

Wins 83,8%
Profit 13,4%

Out-08 2,4%
Nov-08 -46,7%
Dez-08 -37,5%
Jan-09 -0,7%
Fev-09 -0,3%
Mar-09 -0,9%
Abr-09 -14,8%
Mai-09 43,8%
Jun-09 -15,5%
Jul-09 -8,5%

The return to loosing months :(


Thanks for stopping by,

JFonseca

[JFonseca]

Hi,

It's always the same story: I start to have a winning streak and I think I'm the King of the World and can predict future FX rates. With 2 trades I lost arround 25% of my account, instead of the 3% I would loose if I followed my own rules. WHAT A LOOSER!

Apart from these 2 stupid mistakes I had a great month, so I only lost 4,5% of my account in October.

November has been a very jumpy month. I recovered a susbtantial part of my (equity) losses, that were far greater than the balance losses), but in the last week until wednesday I gave everything back to the market, and some more. From Thursday until now I recovered part of this losses and gained a new insight about my trading aproach. I will try from now on to focus on not to trade until I'm 90% sure that I'll win and after 40-50 pips in profit put the SL in the open price.

10-08 2,4%
11-08 -46,7%
12-08 -37,5%
01-09 -0,7%
02-09 -0,3%
03-09 -0,9%
04-09 -14,8%
05-09 43,8%
06-09 -15,5%
07-09 -8,5%
08-09 -8,6%
09-09 12,2%
10-09 -4.5%
11-09 -3,3%


Good trades,

JFonseca

[JFonseca]

Hi,

The last part of 2009 was a disaster for my trading.

I hope 2010 will be a better year.

JFonseca