Thursday, November 13, 2008



Cable steaming ahead now - position 1 is +1105 pips, poition 2 +721 pips, both full positions. 500pip trailer is holdin the stop at 1.5320, bit too close for my liking really, would have preferred 1.5520 to stay above yesterdays range but then it was a large day. will leave the 500 trail in.

Swissy is holding up the rear tho not doing much, don't know sometimes why i bother with swissy but it's 106 up - not far enough to move the stop yet.

usdjpy finally made it's move also +230 as i write. stop remains at 98.40 so no locked in profit yet.

audusd now 160 up on yesterdays new position, stop moved to 0.6735.

that's it, nothing new i want to risk.

this then is typical of a daily chart trader - last week we lost a few hundred pips - cant remember how many but around 400-500 pips in several trades. then you find good ones and ride em like a cowboy on a bronco. cable has been in since the 3rd nov so 10 days already but remember that was my second bite at cable.

so my impressive +1400 in 2 days score went down to 900, but now looking at +2000 in open trades. Providing you trade small enough and manage your risk then you can make good money even at a few dollars a pip.

That's it, off for the day - hope you have luck.

Closed Results +956 Pips since Oct 23rd 2008.


FX said...

What leverage you use for positions that you call "full position"?

Soultrader said...

i don't use leverage. if my account is 120 then i buy/sell 120k.

leverage is for the underfunded and will kill em in the end.

FX said...

OK, I understand, but what about multiple positions that you frequently have? You are saying that if you have 120k you are at liberty to have for example 3 40k positions or each position is 120k? I'm just curios, so I can put in perspective your trades. I don't ask these to preach or say some mine opinion, I'm just curious.

Soultrader said...

no, if i have a 120k position and the stop means that it's safe past break even then i can put another position on if i want to. Building winners is a sure way to multiples of pips - doesnt happen often enough though!

On saying i use 1:1 it's not strictly true - i will use more leverage if the risk is really low - ive often taken trades with less than 50 pips of risk and in those situations i'll go as far as 4:1 so as to maximise the win.

I tend to look how much im risking vs the potential realistic gain - 2nd bit is hard when you don't have targets!