MoneyBull

Note: Sorry for the delay, I had a very busy week with my trading and other personal reasons

Open (Current) position

Short GBP/USD: In pips: -50, In USD: -$65.00 (Long Term position)

Closed position

Long GBP/USD: In pips: -15, In USD: -$19.50

Long GBP/USD: In pips: -40, In USD: -$52.00

Long GBP/USD: In pips: +15, In USD: +$18.00

Short GBP/USD: In pips: -19, In USD: -$22.80

Long GBP/USD: In pips: +15, In USD: +$17.40

Short GBP/USD: In pips: +13, In USD: +$15.50

Overall

Total pips: +37
Cash Balance: $1260 (Starting balance: $1197)

Comments: I started the week with some negative trades, partially due to Tony Blair’s resignation (it affected the GBP currency in a strong way). My Long Term position is still open because I expect the GBP/USD to fall.

Open (Current) position

-

Closed position

Long GBP/USD: In pips: +64, In USD: +$76.80

Long GBP/USD: In pips: +56, In USD: +$67.20

Overall

Total pips: +68
Cash Balance: $1303 (Starting balance: $1197)

Comments: This is a very good week. I finally see some really positive results. I have changed my strategy again with a more agressive one. I am trading with Support/Resistance/Pivot points now more than news, and it seems to work. Let’s see if I can keep those kind of results in the next few weeks.

Open (Current) position

-

Closed position

Long GBP/USD: In pips: +4, In USD: $1.60

Short GBP/USD: In pips: +9, In USD: $10.40

Long GBP/USD: In pips: -38, In USD: -$45.60

Overall

Total pips: -29
Cash Balance: $1159 (Starting balance: $1197)

Comments: After starting the week with two small positive trades, I tried to buy on the Retail Sales which was in favor of the GBP, but my Stop-Loss was hit before my target, so this week will be a negative one.

This is just to inform you that I will change my strategy to get more profits.

I will now trade with 3 lots and put different stops and trail my profits, instead of opening 1 lot.

My three lots size are now $4000 instead of one lot of $12 000 (10% of my capital).

I realized that this was the reason I was not making a lot of profits (and losing more than winning).

Keep in mind that while I have some experience in the Forex Market, I’m still learning as I trade.

Open (Current) position

-

Closed position

Long GBP/USD: In pips: +11, In USD: $13.20

Short GBP/USD: In pips: +37, In USD: $44

Overall

Total pips: -4
Cash Balance: $1192 (Starting balance: $1197)

Comments: After some negative results in the previous week, I am back with some very positive trading. Hopefully, I will continue on the same track in the next weeks. I started the week with a small Long trade (BUY) with the GBP/USD followed by a Short trade at the end of the week. I decided to trade on the GBP Industrial Production news release which was in favor of a higher entry point for a small drop after. That’s where I took my profit. I had to wake up at 4 AM, but it was worth it, hehe.

Open (Current) position

-

Closed position

Long GBP/USD: In pips: -20, In USD: -$24.00

Short GBP/USD: In pips: -62, In USD: -$74.40

Short GBP/USD: In pips: +30, In USD: +$36.00

Overall

Total pips: -52
Cash Balance: $1135 (Starting balance: $1197)

Comments: I should have closed my first Long trade a few days ago for a few pips, but I didn’t, so I closed it with a small loss. After that, my other negative short trade was a surprise for me. My technical indicators and the news were in favor of a really nice Short trade for GBP/USD but it didn’t happen. I finally closed the week with a good positive trade. I’m still very confident that I will make a lot more pips in the month of June and July.

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