Paper Trading Day 71 of 90

Today I placed my first simulated trade using the trading platform, two infact.

FOREX:

I closed a long trade on Euro / Swiss Franc today taking a lose of $320.

Lifestyle Tradere gave an entry signal for a long trade on British Pound / US Dollar.

Current trades are:

 Curr Pair  Direction  Entry Price  Current Price  P/L
 GBP / USD  Long       1.6564       1.6564         0

Profit on closed trades is $17,857.40 an increase on my original account of 48.26%.

COMMODITIES:

Lifestyle Trader reported an entry signal for a long trade on Oats

Current trades are:

 Commodity  Direction  Entry Price  Current Price  P/L
 Oats       Long       260.5        260.5          0
 Lean Hogs  Long       54.8         57.2           960.00

Profit on open trades is currently $960.00 and profit on closed trades is currently $14,735.50 a total of 15,695.50 an increase on my original account of 32.7%.

Paper Trading Day 70 of 90

Good morning traders a very quite day today. Lets hope the action picks up soon.

FOREX:

my long trade on Euro / Swiss Franc has gone in the wrong direction two days in a row so I will exit that trade tomorrow. No new acceptable trades were reported by lifestyle Trader today.

Current trades are:

 Curr Pair  Direction  Entry Price  Current Price  P/L 
 EUR / CHF  Long       1.5146       1.5104        -$336.00 (sell order pending)

Profit on open trades is currently -$336.00 and profit on closed trades is currently $18,177.40 a total profit of $17,841.40 an increase on my original account of 48.22%.

COMMODITIES:

No new trades no exits today.

Current trades are:

 Commodity  Direction  Entry Price Current Price  P/L
 Lean Hogs  Long       54.8        55.95   $460.00

profit on open trades is currently $460.00 and profit on closed trades is $14,735.50 a total profit of $15,195.50 an increase on my original account of 31.66%.

Paper Trading Day 69 of 90

Can someone please convince google to put a better editor in here so that when I format the text it stays formatted. Perhaps once I start making money from trading I will move over to a self hosted wordpress blog.

FOREX:

I closed two trades today;

• a long trade on Euro /US Dollar making a profit of $1,600.00
• a short trade on US Dollar / Swiss Franc making a profit of $696.00

There were no new acceptable entry signals and no exit signals

Current trades are:

 Curr Pair  Direction  Entry Price  Current Price  P/L
 EUR / CHF  Long       1.5146       1.5128        -$144.00

Profit on open trades is currently -$144.00 and profit on closed trades is currently $18,177.40 a total of $18,033.40 an increase of 48.74% on my original account.

COMMODITIES:

I closed three trades today;

• a long trade on Soybean Meal taking a lose of $1,050.00
• a long trade on Wheat making a profit of $150.00
• a long trade on Cotton taking a lose of $520.00

Lifestyle Trader reported one entry signal that is acceptable to my trading rules, a long trade on Lean Hogs.

Current trades are:

 Commodity  Direction  Entry Price  Current Price  P/L
 Lean Hogs  Long                                        (buy order pending)

Profit on open trades is currently $0 and profit on closed trades is currently $14,735.00 an increase on my original account of 30.7%.

Paper Trading Day 68 of 90

I now have the Trader Workstation software installed and running on my computer and I am now starting the sessions training in order to learn how to use it. Looks like a lot of fun and now I have to keep a more detailed diary of what I am doing. Part of this is creating a trading strategy which I have also posted on this blog.

Thanks for your comments Leon it is good to know that someone is getting some value out of reading my blog.

FOREX:

I closed one trade today a long trade on Australian Dollar / US Dollar taking a profit of $2,960.00.

Lifestyle Trader signaled exits for two trades today;

• a long trade on Euro / US Dollar
• a short trade on US Dollar / Swiss Franc

and an entry signal for a long trade on Euro / Swiss Franc

Current Trades are:

Curr Pair  Direction  Entry Price  Current Price  P/L
EUR/USD    Long       1.4717       1.4877         $1,600.00 (sell order pending)
USD/CHF    Short      1.0268       1.0181         $696.00   (buy order pending)
EUR/CHF    Long                                             (buy order pending)

Profit on open trades is currently $2,296.00 and profit on closed trades is currently $15,881.40 a total of $18,177.40 an increase on my original account of 49.13%

COMMODITIES:

I was stopped out of a long trade on corn today taking a lose of $480. Lifestyle Trader signalled exits for a long trade on cotton. The following two trades have gone in the wrong direction two days in a row;

• a long trade on Soybean Meal
• a long trade on Wheat

Current Trades are:

 Commodity     Direction  Entry Price  Current Price  P/L
 Soybean Meal  Long       305.0        294.8         -$1,020.00 (sell order pending)
 Wheat         Long       521.0        527.0          $300.00   (sell order pending)
 Cotton        Long        68.45        67.41        -$520      (sell order pending)

Profit on open trades is currently -$1,240 and profit on closed trades is currently $16,155.50 a total profit of $14,915.50 an increase on my original account of 31.07%.

My Trading Strategy

What I trade

• All Forex
• All Grains
• All Livestock
• All Softs except Cocoa

Entry / Exit Rules

• I get in on the daily chart cross (correct angles) if the weekly chart is trending in the same direction
• I exit on a cross or when the trade has gone in the wrong direction two days in a row

My Stops Are

• 2 x 10 day ATR for Commodities
• 2 x 5 day ATR for Forex

My Maximum Risk per Trade

• 5% of my account

Monthly Target

• 5% per month increase on my account

Statements About My Trading

• I take every trade that satisfies my rules. I check that I am not risking too much on any one trade and if I am I don't take the trade
• I am patient with my trading education and know that I can't learn everything overnight
• I am responsible for ALL my trades
• I will not trade when I feel angry or pressured about external factors not related to trading

Additional Notes

• I make sure I have peace and quite when I trade
• I only open the platform once daily
• I'll simulate for a month before trading a new strategy

Trading Diary

• I will continue to use my blog as my trading diary