Paper Trading Day 43 of 90

Today I have decided to use a couple of extra strategies with Forex to try and stop the bleeding that I have had with them so far. The first strategy, and this I believe will save me heaps, is if an entry signal is in the opposite direction to the weekly trend then dont take the trade, and if an open trade closes in the wrong direction two days in a row and appears to be topping or bottoming out then close the trade.

FOREX:

Lifestyle trader signal three exits today:

• Short trade on US Dollar / Canadian Dollar
• Long trade on Euro / Swiss Franc
• Long Trade on Australian Dollar / US Dollar

Both USD/CAD and AUD/USD had a signal to enter a trade in the opposite direction however because the weekly trend is not in the opposite direction I am not going to take either of these trades.

I am also going to close two other trades that have been going well but have both closed down two days in a row taking the cream of the top. these are:

• Long trade on Euro / US Dollar
• Short Trade on US Dollar / Swiss Franc

three of these trades are in the green and will make my bottom line look a lot better tommorrow.

Profit on open trades is currently $14,802.60 while closed trades remains at -$6,783.40 a total of $8,019.20 for an increase on my initial account of 21.67%.

COMMODITIES:

Not a good day on commodities today. I was stopped out of two trades and closed two others:

• Short trade on Rough Rice with a lose of $1,060.00
• Long trade on Soybean Meal with a lose of $1,200.00
• Long trade on Wheat with a lose of $420.00
• Long trade on Orange Juice with a profit of $123.00

Just about everything else closed in the wrong direction. Other highlights for the day are:

• Entry signal for a short trade on Soybean Meal
• Exit signal for a long trade on Soybean Oil with a signal to open a short trade
• Exit signal for a long trade on Soybeans with a signal to open a short trade. Somehow I made a mistake with my trailing stops on this trade and would have been stopped out today with less of a lose than I will have tomorrow
• Entry signal for a short trade on Wheat
• Entry signal for a short trade on Lean Hogs

Profit on open trades is currently $5,495.75 while closed trades is $10,919.50 a total of $16,415.25, an increase of 34.2% on my initial account.