Paper Trading Day 20 of 90

Got up early this morning and made poached eggs on toast for breakfast. What has this to do with forex, well lots actually. I have found that if I dont have breakfast before I start my trading then I tend to not have it until just before lunchtime then skip lunch. Not a very healthy way to go. It is my intention to have a long healthy and active life with the money I am going to make from trading.

FOREX:

The market was a little different this morning but in a good way. I closed off two trades that I had signals on yesterday. The first being US Dollar / Swiss Franc which gave me a profit of $320 or 15.67% of the margin in just 5 days. The other being Euro / British Pound. I entered a long position on this pair on the 11th of August and unfortunately the opening price was below the buy price when I excited giving me a lose of $846. The exit signal for this trade was also an entry signal to go short, however I missed this luckily as the price went up.

Currentl open trades are:

• Short on US Dollar / Japanese Yen, opened at 95.38 currently at 94.025 in the green
• Short on British Pound / US Dollar, opened at 1.6348 currently 1.653 in the red
• Long on US Dollar / Canadian Dollar, opened at 1.1081 currently 1.0949 in the red
• Short on Euro / Swiss Franc, opened at 1.5292 currently 1.5164 in the green
• Short on Aust Dollar / US Dollar, opened at .8206 currently .8286 in the red
• Short on Euro / Japanese Yen, opened at 136.39 currently 133.745 in the green
• Short on British Pound / Japanese Yen, opened at 160.115 currently 155.425 in the green

So I have four open trades doing well and three doing not so well a total of $4,615.70 in profit on all open trades or 22.11% of the margin of $20,874. Closed trades now sits at $1,551. A total profit of $3,064.70 or 8.28% on my initial account.

COMMODITIES:

Today I was stopped out of my coffee trade with a lose of $870, well below the amount set by the risk management rules. I opened two new trades today, Feeder Cattle and Live Cattle going long on both as a result of signals from ARLT (Aussie Robs Lifestyle Trader software) yesterday. Feeder Cattle is up $175 for the day and Live Cattle is down $40 so far so good.

My other open trades are mostly going well however I am slightly down on yesterday as a result of coffee being stopped out. There are no new signals to enter or exit for today.

Current margin is $30,680, current profit on open trades is $8,685 and profit on closed trades is $4,333.75 a total profit of $13,018.75 a total of 27.12% on my initial account.