Live Trading Day 5

I feel like I am settling in well to trading live, I am following my rules and everything is going according to plan. I mentioned to my wife this morning that I much prefer trading during non daylight savings time in Australia when the data comes in between 7:15 am and 9:15 am. rather than closer to lunchtime.

I am hoping that soon I will be interviewing other traders and putting their comments on this blog for you to read. We are having a traders club meeting this weekend with plenty of guest speakers so I am hoping that they will agree to be interviewed for you. If their are any questions you would like answers to then let me know and I will put them to the experts.

Open Positions:

nil

New Trades:

EUR/USD  20000  1.50568 1.4806  YES  501.6
USD/CHF -25000  1.00015 1.0188  YES  513.45
Corn    -1      398.75  421.75  YES  1150
Wheat   -1      566.5   598     YES  1575

Account:

38,293.78 32,586.94 5706.84

Live Trading Day 4

Had a long training session for commodities and Forex this morning on reversing orders and exiting trades and how to trade livestock on two different exchanges. Hope I get full marks from my mentors.

Open Positions:

Wheat     1      584     549.25  549.25  Yes  576

New Trades:
none

Account (AUD):

39,056.80 36,491.49 2,567.31

Live Trading Day 3

Still getting used to this new method of recording.

Open Positions:

GBP/USD  -17000  1.6532  1.6842  1.6842  Yes  1.6612
Corn      1      413.25  388     388     Yes  414.4
Wheat     1      584     549.25  549.25  Yes  584

New Trades:

None

Account (AUD):

39491.93  34571.18  4,920.75

Live Trading Day 2

The butterflies are starting to flutter away and I am setting into business.

Open Positions:

GBP/USD  -17000  1.6532  1.6887  1.6842  Yes  1.6441
Corn      1      413.25  386.75  388     Yes  417.4

New Trades:

Wheat     1      584     549.25  YES -1,737.5USD

Account (AUD):

40,181.01  35,217.90  4,963.10

Live Trading Day 1

Well after four months and not a few butterflies I am finally live trading. Because my initial deposit in my trading account was $5,000 I was only able to take two trades today but we have transfered the balance of $35,000 to the trading account and hopefully it will be there tomorrow for me to start trading with. I have a new format for recording based on the training I have received from Lifestyle Investor Services. See the Trading Diary Recording Format for an explanation.

OPEN POSITIONS:
none

NEW TRADES:

GBP/USD  -17000 1.6532 1.6887 Yes -656.20USD
Mar Corn  1     413.25 386.75 Yes -1325USD

ACCOUNT (AUD):

4941.14 2,548.05 2,393.09

Final Paper Trading Post

This is my final post before going live. I havent been posting the last week because I have not entered any new trades because of the Thanksgiving holidays and I have exited my last trade on the 20th of Nov. These are the results I have obtained from using Lifestyle trader over 90 trading days.

I started with an account of $85,000 made up of what the margin would be if I had a trade on all forex, all grains, all livestock and all softs. I have ended with a total of $109,110.80. I made a profit on Commodities of $12,315.75 and a profit on Forex of $11,795.05 a total profit of $24,110.80 an increase of 28.36%.

I stress the fact that this was just on paper, NO REAL MONEY changed hands. I am now going to start trading live with an account of AUD$40,000 about USD$36,000, just short of enough to trade forex. However what I will be doing to start with is trading mini forex, grains and softs. The margin I require to do this is USD$29,000 for grains and softs and USD$7,266.44 for mini forex at total margin of USD$36,266.44. When my account is large enough to allow I will start trading full forex contracts.

I have a dose of the butterflies at the moment but if I stick to the rules I know that from the results I have received while paper trading that I will make money.

I would like to thank Aussie Rob and the team at Lifestyle Trader for the excellent training they have provide. I would also like to thank the people who have followed this blog and sent me comments. I will continue to use this blog as a trading diary and hopefully it will become a forum for traders to comment on and for others to see what the Lifestyle Trader software really can do with the right training and the right mentality.