Open GBPUSD Long 1 @ 1.6318 22/07/09 08:35

With bollinger set to 2.0 the currency pair is just above this so have decided to go long with a stop loss set at 1.6198 ie 1.2 cents

Close GBP/USD Short 1 @ 1.6508 21/07/09 06:55

As this is a swing trade I have decided to take a profit here since the currency will probably rally as it usually does in the morning. It's nice to make at least one profitable trade after so many losses even if it is so small

P&L : 39

Short GBPUSD 1 @ 1.6545 23:02 20/07/09

After a fair time off I am trading again.

The currency has moved a fair way out of the band I have decided it is a bad area to trade in ie the Bollinger band of 1.0, it is almost at 2.0

Close GBP/USD Short 1 @ 1.6235

P&L : -115

The BoE decided not to increase it's QE so the currency surged. I think I made the classic mistake of getting stung by the "sell on the rumour, buy on the fact".

Taking a break while I still have some profit left

Update 20/07/09 : A cleverer trade would have been to sell Gilts with a tight stop as if the BoE had decided to press ahead with more QE gilts would have jumped whereas to not expand their QE decision did cause a drop of over 3 pts.

Close GBP/USD Short 1 @ 1.6164

Another day, another loss. Over reacted as well because I have another position open - managed to buy right at the top again. Having sat out a rally I couldn't fight another one.

P&L : -109

Short GBPUSD 1 @ 1.6055

The currency pair seems to drop off overnight quite regularly so have decided to go short here. Also note that the BoE may extend it's QE project

US Crude trade Long 1 @ 62.25

P&L : -200

I didn't record this one, and it was a mistake. I felt the urge to deal should have resisted as I feel oil is more likely to head towards 53/51, but thought I could trade on the swing back. Mistake, and irritatingly enough felt that at +30 should have closed it. Must get a laptop with mobile broadband, or deal with a broker that lets you use an iPhone

Close Long 2 GBP/USD @ 1.6133 7/7/09 22:30

As I feel that this currency pair has a higher probability to drop off overnight than to appreciate I there is no point in taking a half cent hammering I have decided to close this one out .

P&L : -15

Open GBP/USD Long 1 @ 1.6151 07/07/09 20:00

I haven't dealt for sometime for various reasons. This time I am using what are called pivot points
Previous Day values
High : 1.6327
Low : 1.6094
Close : 1.6284
This works out to
R1 : 1.6376 S1 : 1.6143
R2 : 1.6468 S2 : 1.6002
R3 : 1.6609 S3 : 1.5910
Apparently these are commonly used values in trading so I have bought at S1. It is also outside of the 1.0 bollinger channel which is what I feel is a bad area to trade in.

Close GBP/USD 1 @ 1.6468 01/07/09 20:00

Late update can't remember the reason why I closed thi but is was a good move anyway. Probably something to do with not trading within the 1.0 boll band overnight.

P&L : 6

Close Gold Long 1 @ 931.0 01/07/09 08:22

The plan was not to keep this open for very long - just take advantage of the 2 to 1 chance that over night gold would appreciate. It has, so I am therefore closing this trade with a small profit

P&L : 29

Open Gold Long 1 @ 928.1 30/06/09 20:42

I have studied the hourly chart and according to my findings there is a 40/26 chance that gold will open higher or trade higher between 7-8 in the morning. I will therefore execute this long and close it early

Open GBP/USD Long 1 @ 1.6462 30/06/09 20:08

Long. What can I say. This is my decision as I think the break above 1.67 was good signs for bulls even though there was an immediate 3 cent drop.

US Crude Auto close @ 69.06

Well, what can I say? I make an impulse sale based upon pretty much nothing at all except a general feeling and it rolls in with a stonking great profit. I set the stop profit at 350 thinking it wouldn't drop to this level and it triggered. Not surprising traders go crazy considering the amount of time I spent on my cable strategy only to see it lose me over 500 quid.

P&L : 350

US Crude Short 1 @ 72.56 30/06/09 08:09

I have decided to sell this based on the fact that the oil price is really just high now because of the Nigeria situation

Close Short 1 GBP/USD @ 1.6640 25/06/09 09:21

I had a short order that I totally forgot about. It triggered at 1.6580. I saw it last night in a little profit so I decided to keep it going and close it at +70 or something. Unfortunately the currency continued to rally overnight and so it is yet another loss.

P&L : -60

Close Long 1 GBP/USD @ 1.6354 25/06/09 09:21

I don't know which way I'm going at the moment. Only this was a good decision as the currency has continued to drop over a cent from here - possibly on comments from Mervyn King about our debt

P&L : -37

Also lost 12 last night clicking the wrong currency ... how silly

Open GBP/USD Long 1 @ 1.6391 24/06/09 20:16

OK, the market has categorically stated (to me today!) it is long I have decided to go long here. The difference is this time I will restrict myself to 1 pound a pip, and set a large stop. Effectively I need to treat this as buying 10000 GBP which is essentially what I am doing.
Lets face it - according to the chart we either have a slowly rising support level , or a definite resistance level at approx 1.66
Its not surprising that was eventually going to lose money. Trade after trade has been a fire fighting operation where I have got out by the skin of my teeth and eventually I was going to let one go too far. Trying to trade in this environment for this particular asset is very very difficult.
A good learning experience?

Stopped out GBP/USD @ 1.6554 23/06/09 08:40

Very disappointed in myself here. I really felt at approx 7:30am was a good time to reduce or even close as the market had not reacted the way I supposed it would
Having said that you can never be sure, but it did occur to me last night that there seemed to be a support level at approx 1.62 looking at the charts

Looks like I'm trying to short in a long market - a market at odds with our stock market, debt and general economic situation. Supply vs demand

P&L : -200

Currency is still my poorest asset class

Open GBP/USD Short 2 @ 1.6454 17/06/09 20:44

I have decided to go short here as the currency has not rallied to it's usual high during the Wall St trading. If one were going to short this is around the best time.

Here are the stochastics :
%K = 93; %D=89; RSI=63
Obviously not ideal setup and a slice of speculation here

FWIW here's another chart ;-)



Remember this time if it looks bad - REDUCE! Don't knee jerk close