My Fund Trading Adventure by Ben Bakhsh – w/c 09/01/2012- Blog 11

Follow my trading here:

 

http://www.myfxbook.com/members/benbakhsh/intellitrade-2012/220171

Well it’s been a big week for me today.

I’ve taken everything I’ve learned over the past 3 years, the best strategies I’ve learned and compiled this into a logical, low risk, high probability strategy that I can trade with little management.

So now – time to put it through the LPT tests.

The link to this strategy is above so please follow me as I continue my trading adventure.

My end result after 2012 was a total of +17.5% from Oct – Dec. (When I started trading my strategy consistently). Compared to the -75% in September this is living proof of the power of consistency.

Remember – my target is to be consistent for 100 trades to really train myself to be a consistent trader.

So far there have been………well actually I’m at square 1… here’s why:

As per my strategy I entered a CAD sell on Wednesday… then it rose and hit my counter trade as per strategy… for 2 DAYS this thing bounced between my T/P and S/L’s. In fact … about 4 times it was within 4 pips of TP… now for the horror… at the end of day 2 I had enough! It rose within 4 pips of TP so I hit right mouse button, hovered over “close order” and DING! POWERCUT! The whole neighbourhood house alarms go crazy and I’ve lost internet and have no idea what happened after 2 days of fighting emotion.  I sit there jaw dropped and sickened!

Anyway, I get my internet and power back and log on to see the rate has started falling again and loosing profit and after using my Fib tool I saw that the rate was retracing perfectly and analysed that the  rate would carry on falling so I bottled it, and closed the trades taking a -5 pip loss… I was happy though, the nightmare was over and I was in profit for the day as the markets had already given me 30 pips from an AUD buy. I was glad to be out because sure enough the rate dropped and ranged exactly where I predicted!

BUT… the story continues….

Today as per my strategy there should have been a buy order set up this morning on the CAD… HOWEVER… I avoided it because in my mind the market was ranging and I had total belief that I would lose if the order triggered… to follow, about 10 minutes before writing this week’s blog I watched in horror as the rate smashed through what would have been my buy order and raged above and beyond my 30 pip T/P in just a few minutes…. The lesson……

RECENCY BIAS

That’s it for now, but I’ll be back next week……….

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