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Results, 14-18 Nov 2005

Hi all!

I hope you all had a prosperus week on the fx markets and are enjoying your weekend :). This is the first of my weekly summary posts, the daily results posts were proving hard to keep up with a newborn, and with me calling my trades live in the Australia channel of Marketiva, I figured everyone could see for themselves.

This week was a week rich in news and economic data, and proved to be a dangerous field at times. With proper money management and stop losses though, it should have been a profitable week for a lot of people. Yesterday saw the release of some good inflation figures in parts of Europe, which saw Frankfurt and London take the Euro and GBP down to daily lows, before the US added some chaos with sharp spikes left right and center, really makes you wonder sometimes.

Simple trend line analysis with support and resistance levels would have netted you very good returns yesterday, proving yet again to me that simple is better. My results this week were mixed, with my live predictions actually fairing 8 pips better than my actual trades (I trade all live calls, but speculate on some others also), my worst day was thursday, when I added some indicators to test them out (silly thing to do on a live account, virtual next time), and all it proved to do was add complications.

Lately I have stripped my charts back to the very basics, working off 1H candelstick charts, 4H for trends, pivot lines and that is about it. The rest is drawing in trend lines and support and resistance levels. The use of a multitude of indicators for me just complicates things, and as all indicators lag, and all indicators are based on the price action anyway, I prefer to go straight to the source, price. Now there will be many many who shout this theory down, that is fine, and I know there are many professional traders who use a bucket load of indicators and make good money, but my brain just can't process the mess of coloured lines :)

Some interesting Canadian data next week, so might want to keep an eye on that as well as oil prices which always effect the USDCAD pair.

Happy trading!

This week's result: +180 pips | Overall: +922 pips

This entry was posted on Saturday, November 19, 2005 at 1:20:00 PM. You can skip to the end and leave a response.

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Posted by Anonymous Anonymous:
Wednesday, November 23, 2005 1:40:00 AM

Akum, I'm intrested in what is your proffit in one week in %?
1%, or 2% or 5% or 10% ???

And in a usualy day 1%, or 2% or 5% or 10% ???    



Posted by Blogger Akuma99:
Wednesday, November 23, 2005 3:26:00 AM

Well of course it changes day by day, today was 16% profit (a good day), some days less than that of course, last week's return was ~35% of account. Hope that helps.    



Posted by Anonymous Anonymous:
Wednesday, November 23, 2005 6:16:00 PM

thanks    



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