First Week Over

Another week is wrapped up and my first full week trading in Australia. Some things don’t change such as how fast the week goes when trading!

CM doesn’t trade on NFP Fridays but I personally find them to be a profitable day if you can be done and dusted before a few hrs of release and then once the news has settled in, a significant trend usually forms. My first trade was a loss with TUFXP for 26 pips and I had to wait several hrs before my next trade which thankfully won, so a small loss of 6 pips for TUFXP yesterday.

One thing that has been troubling me is to which strategies to trade as I believe I have at least 4 profitable strategies now.  I have decided upon 2 strategies for my main bank and I will dedicate a 2nd bank for the other 2 in due course. One thing I did learn from my previous run was that trading all strategies on one bank isn’t ideal.

I got an excellent email from a friend regarding trading and I’ll expand on that on my next post but for the moment I’ll leave it here as I’ve got the house to myself for the first time this week and I’m going to take advantage of some P and Q.

Hope you’ve had a profitable week and have an enjoyable weekend.

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    • Jason Morton
    • June 5th, 2010

    Hi there, been following your blog for a few week now and it is really interesting. I’ve had TUFXP for over a year now and still can’t seem to find a strategy that is profitable. I’ve read that doing a lot of back testing can be key to giving you confidence to trade a particular strategy, so I’m going to crack on with that now. Are any of the 4 profitble straregies you mention above located on this website – it would be good to have a starting point to have some ideas for my own back testing. Cheers – Jase. (Are you using the FXCM or COMP data feed?)

    • mike
    • June 5th, 2010

    Hi
    Are you trading the same rules as CM ?
    if you traded today from my reckoning you would of had 2 losing trades

    ptp 5.50am which triggered at 6.05 – loss of 20 pips – CM takes trades that trigger from 6am onwards even though ptp signal was before then

    and then 8am ptp triggered at 8.10am which resulted another loss of 26 pips

    just wondering

    mike

    • Hi Mike,

      I take trades from 6AM-10AM. I don’t particuarly buy into his pre 6AM trades. I took the 8AM PTP for a loss of 26 pips then the 3:05PM PTP short.

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