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2nd week stats - LIVE

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Well that was a terrible week. No other way to describe it. I began the week 7.7% up on my initial account balance and after slaughtering it finished only 1.2% up. Lost a total of 46 pips this week

All my stats are now pretty terrible. Im going to spend the weekend working out what was so different between the 1st and 2nd weeks.

I know what i need to do i just struggle with the discipline/execution:


2. Cut losers shorter.

3. Get my hit rate up (55% is woeful for this method). Looking to get to at least 75%, but it will be a long slow process to get there again.

So here is my plan of attack:

1. Go back over my previous 2 weeks charts and try and pick the difference.
2. Only look for the high prob trades where the market is moving a lot.
3. If i feel the slightest bit uncomfortable: dont enter a trade

Im going to have one more week on the E/J to see if i can have a better one, otherwise i might need to re-evaluate and move back to the E/U, where the spread is less, but so are the moves...

Comments/critiques most welcome.
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Forex Scalping


  1. Naked shorts's Avatar
    Ugh, I hate the E/U. Its hard because the euro is made up of 16 different countries. so to trade the e/u effectively you should be looking at the economies of 17 different countries.

    I would also highly recommend that you open an account with http://www.tradethenews.com/ it would have saved me a few times if I had caught onto it earlier.

    Also may be worth sitting in this chat room for a bit...http://www.ircforex.com/chat/

    Also make sure you check this calendar before you open a trade

    It might be worth you looking at the JPY/NZD to trade. Do some research on "carry trades" and you will understand why.

    good luck!
  2. Naked shorts's Avatar
    Oh one other thing, I like the way you are doing your graphs in excel. You are treating your trading like a business (a way to make money), instead of gambling (the way suckers loose money).


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