From -11.6% to +19.6% in one week

19 January 2013

Attached is an updated account tracking worksheet.

As I hinted at last week, I could feel my ‘trading mojo’ coming back, though the results last week were not that great. I ended last week (Jan 11) with my account down -11.6% for the month. This week started badly for the account, going down to as low as -42% for the month, but I end the week with the account more than double the level it was at its lowest. The account equity is now at $119,566, or +19.6% for the month so far. There is still a week to go in this month and I expect the month to end higher next week.

I have done an analysis of the trades last week and this week to see where I go wrong. The post-mortem analysis clearly shows my biggest weakness – IMPATIENCE! Almost all of the losing trades were due to anticipating the system signals. In each of those cases, abiding by my system rules would have reduced the loss to almost B-E, or would have returned a good profit. I am now back in sync with my system rules and will continue to remain in sync, hopefully producing the same results as the system which is up 65.6% for the month so far.

On to the actual fx pairs:

The AUDUSD has becoming like a stagnant pool –  I will not trade this pair until it breaks out of its current tiny range – 1.0480 – 1.0580. What a fx trader needs is volatility and liquidity. From the price action it appears to me that the AUD is low on both right now. I don’t know why – perhaps the hot money is now channeled into the YEN pairs and the EUR crosses like EURCHF, EURGBP, EURAUD, etc where there is a lot of volatility.
An example of this is the EURCHF, which has had a great run these past 2 weeks. I have been tempted to get on the train, but there was no good ‘Technical’ opportunity to enter once I missed the breakout above 1.22. The opportunity will come when there is a retracement which will be just as furious and profitable. I plan to trade the EURCHF or the USDCHF instead of the AUDUSD as long as the Aussie stays stagnant and the CHF pairs are hot.

That’s all for this post, I might have another one on Zulutrade if I get the time later today.

Blog Wksht 2013Jan19

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2 thoughts on “From -11.6% to +19.6% in one week

  1. HellboyFX

    Hi ZenFX

    HellboyFX here – just would like to say congrats on the past two weeks of performance – well dug out fronm that hole…about a 100% actually in two weeks!!!

    That is well done

    Im back from an extended holiday as well – and very much looking fwd to this week – the Yen is goint to be crazy – either side……lets see what Tuesday brings

    I personally do not have a view on this – but I suspect the BOJ or Abe is going to push this Yen even lower and hunt the stops all the way to it seems close to 95……just a hunch..before the correction ensues

    But that is going to require a rather big asset plan…more than 20 to 25 trillion it seems come Tuesday

    Anyway – as you – I love the EY cross right now – volatility is my friend…either side of the BOJ rate decision – we are going to see a crazy move..up or down – I just want to be on that train as you call it

    What are youre views on this issue?

    By the way – Im not following your Zulu trades, but love this site and your Twitter posts of course to keep updated on your actions

    Just again would like to thank you for your posts on this site and other places – I really do enjoy them as a fx trader myself…this is my sole income to support the family – as with you it seems..and I thoroughly enjoy following your posts from time to time

    Ive got my own system and views on some trades and so forth – but I enjoy looking at how other serious traders see things…
    please keep it going – your performance and your posts

    This might be a big week again!!!!

    Looking fwd to your posts!

    Enjoy the last bit of Sunday before markets open

    PS – saw that your system have generated sell signals on EU,J and EJ…now this is only my ever suspicous mind – but im thinking BOJ is going to push this market way higher…and EU is going to follow – (also on the verge of a break out – either side)….stops is going to be hunted all the way to the top and then the correction

    Anyhow – lets see what this week brings – especially Tuesday…

    Best of trading to you…!!

    Like

    Reply
    1. ZenFXTrader

      Nice to read your comments Hellboy. Hope you had a good holiday. You did miss the action in the Yen pairs. I too missed it as I didn’t trade from 22 Dec to 2 Jan. but the yen volatility will continue at least for the rest of the year – the era of the sleepy yen when USDJPY’s daily range would be 25 pips – those days are gone. That’s good for us – volatility is the trader’s friend.

      Like

      Reply

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