Paper Trading Day 47 of 90

A fine sunny morning this morning but rain and hail is predicted for this afternoon when the Cats and the Saints battle it out for the holy grail of AFL.

FOREX:

I closed one trade today, a long trade on US Dollar / Japanese Yen taking a lose of $1,041.75. The last of the wrong way trades. There was an entry signal to open a short trade on this pair which is in the same direction as the weekly trend. There was also an entry signal for a short trade on US Dollar / Japanese Yen.

Profit on open trades is currently $19,723.00 while closed trades is currently -$1,041.75 a total of $18,681.25 an increase of 50.49% on my initial account. I wonder what my account would look like now if I had taken the conservative path right from the beginning.

COMMODITIES:

Commodities appear t obe going belly up at the moment and could be due to us moving into October, which is a notoriously bad period for trading. I closed two trades today;

• short trade on wheat with a lose of $430
• short trade on Live Cattle with a profit of $460

there were exit signals for;

• short trade on Soybean meal
• short trade on Soybeans
• short trade on Lean Hogs

and no new acceptable entry signals. I have a hunch that things will slow down now until after October.

Profit on open trades is -$946.50 while profit on closed trades is $14,538.75 a total profit of $13,592.25 an increase of 28.32%.

Paper Trading Day 46 of 90

AFL Grand final day tomorrow and my prediction is Geelong. They have the eye of the tiger whereas St Kilda do not.

FOREX:

My decision to close trades that head in the wrong direction two days in a row seems to have worked in the case of my long trade on Euro / Japanese Yen as lifestyle trader signaled an exit for this pair today closing at a lower price that what I got out for. Lifestyle trader also signaled an exit on long trade on US Dollar / Japanese Yen.

There is also an entry signal for a short trade on Australian Dollar / US Dollar however as the weekly chart is heading long I will not take this trade and an entry signal for a short trade on Euro / Japanese Yen.

Due to the drop in the british pound profits on open trades has more than doubled today to $12,287.83 and closed trades is now at $377.75 a total of $12,665.58 an increase of 34.23% on my initial account.

COMMODITIES:

I closed three trades today and was stopped out of one;

• Short trade on Corn taking a lose of $600
• Short trade on Feeder Cattle with a profit of $650
• Long trade on Coffee (stopped out) with a profit of $2171.25
• Long trade on Cotton with a profit of $2430

Lifestyle Trader gave exit signals for short trade on Wheat and short trade on Live Cattle and an entry signal for a long trade on Cotton (with a weekly trend in the same direction) as a result of the lines crossing two days in a row.

Profit on open trades is currently $983.00 (I only have seven open trades on commodities at the moment) while profit on closed trades is now $14,508.75 for a total of $15,491.75 an increase of 32.27% on my initial account.

Paper Trading Day 45 of 90

Halfway there ladies and gentlemen and a very interesting ride it has been so far.

FOREX:

Long trade on Euro / Japanese Yen is down two days in a row so I am going to exit from it tomorrow.

Profit on open trades is currently $5,646.30 while closed trades remains at -$272.50 for a total profit of $5,373.80 an increase of 14.52% on my original account.

COMMODITIES:

Lifestyle Trader had two signals to exit trades today;

• Short trade on Feeder Cattle
• Long trade on Cotton

and one entry signal for a short trade on orange juice.

Profit on open trades is currently $6,794.00 while closed trades remains at $9,857.50 a total profit of $16,651.5 an increase of 34.69%.

Paper Trading Day 44 of 90

Wow, what a difference a change in strategy makes.

FOREX:

Two trades that I didn't take yesterday due to the weekly trend being in the opposite direction went in the opposite direction. I closed five trades today;

• Long trade on Euro / US Dollar taking a profit of $3,470.00
• Short trade on US Dollar / Canadian Dollar with a lose of $525.10
• Short trade on US Dollar / Swiss Franc with a profit of $2,616.00
• Long trade on Euro / Swiss Franc with a lose of $200.00
• Long trade on Aussie Dollar / US Dollar with a profit of $1,150.00

I only have five trades open at the moment with a profit of $6,170.00 while closed trades is heading in the right direction and is currently -$272.50 a total profit of $5,898.40 an increase of 15.94%.

COMMODITIES:

Back to boring again, I closed two trades;

• Long trade on Soybean Oil with a lose of $12
• Long trade on Soybeans with a lose of $1,050

no new entry or exit signals today. Profit on open trades is currently $9,189.25 while closed trades is $9,857.50 a total $19,046.75 an increase of 39.68%.

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.