Day 62: End of March results

$12.14 $873.35

Today was another slow day, nothing too excited in the markets. Strength of dollar is still stably bull and I don’t think we’ll see much change until we see the NFP numbers on Friday.

Although today’s markets were unexciting, one thing I’m excited about was this month’s consistency. I’ve worked my butt off trading for months to achieve this consistency; I even had two separate weeks of consistent wins. However, although my losing days were few, the amount lost were quiet big. I have to work on managing my losses better. Overall, I’m proud of this month’s success and can’t wait to improve from here on out

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Day 61: Just a bad day.

-$51.17 $861.21

Some days are great, some days are average, and some days are absolutely horrible and today was just that. Woke up feeling like I got half sleep, had some personal problems I had to deal with and to make things worse, the market was abnormal with low liquidity.

Trading on days where you are stressed out definitely reflects your P/L. I just couldn’t focus on the markets today and got too emotional on my trades. Took the rest of the day to clear my head and to prepare for tomorrow. Ready to make the money back and to finish the strong.

Dollar is back on it’s bull trend now. However, it could be a temporary bounce. Let’s see what happens tomorrow.

Day 60: Hate having open positions overnight

$32.23 $912.38

So yesterday I decided to do something different and leave three positions open with SL and TP set in place. I have to say, even though they were  small positions it was very very stressful seeing my P/L range to positives to negatives, teasing me to close my account before my targets were hit. Which is why I prefer day trading over intraday.

Any who, I woke up this morning to see that the market hit my SL and headed toward my TP. Ruined my morning but motivated me to focus on today’s session to finish the week strong.

Although my overnight positions weren’t successful, I was still bear dollar and traded accordingly. Sold the dollar off till the late afternoon for some nice profits. I wanted to trade more but Friday’s afternoon liquidity is horrible and Yellen was scheduled to speak at 3:45 so I called it a day.

Oh, and got approved for Robinhood today so I’ll be active in the stock markets now. Scared, nervous, and excited.

Day 59: Trying something new

+$26.80 +$18.13 $880.15

For some time now I’v been testing a different strategy to leave in positions overnight and setting take profits and stop losses. So far most of my TP’s and SL’s have been successful but they were all hypothetical. Today will be the first day I try it out and hopefully they go well. I’ll edit in the day P/L tomorrow or tonight once target is hit.

EDIT: Sigh.. Unfortunately my SL were hit before TP. Although I had the right idea, I still need to analyze the market better to judge the right TP and SL positions. And let me tell you, the stress of sleeping with open positions is not fun.

Anyways, for today we saw a nice pop in the dollar. All pairs moved nicely and was able to get some profits especially in EUR/USD. There’s a final GDP number release tomorrow which will set the direction for the dollar next week. Will we see the rally continue or short lived? My prediction will be bear dollar still for the moment.

Day 58: Frustrating day

-$19.95 $862.02

A losing day is always a frustrating day for the trader. I felt out of it today, when the market was going up I was selling and when the market was going down I was buying. Everything entry I made the market mocked me and headed toward the opposite direction. To throw into the mix, liquidity completely died down in the late afternoon as I wallowed in shameful P/L. The EUR/USD literally had no action as it made a constant up and down move much like a frequency wave, and the USD/JPY and USD/GBP behaved abnormally. Today was a tough day, I guess the market couldn’t decide on a direction.

Day 57: Where I think the dollar will go

$20.99 $881.97

Saw a small pop in the dollar today and made majority of profits shorting GBP/USD and buying into USD/JPY. Although we saw a minor bullish move on the dollar, I’m still skeptical. Here is my prediction on the dollar.

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Ultimately, I think the dollar will continue dropping. It may not be smoothest drop, but the bears will continue to dominate and eventually find support between 94.00 – 95.27. It previously consolidated in that region, and I think it’ll find support somewhere around there again. After it reaches it’s destination, it can break out any direction. It’ll all come down to the Feds on whether they’ll be dovish or hawkish in the next meeting.

Day 56: Dollar continues to drop

-$9.03 $860.98

Hurts me a little inside to end with a loss but I’m ultimately satisfied with the results. Today was a very slow day with sporadic and unpredictable movements in the markets. Due to the erratic movements, I found myself in deep trouble at times. In total there were probably three moments of panic; just when I got out of one deep hole, I found myself in another one shortly after. Draghi was talking today and being Monday, it probably didn’t help with the liquidity. All in all, I’m happy indifferent with the 1% loss; majority of it was due to commissions anyway.

Day 55: Delayed Dollar Dip

$26.18 $870.01

Finally the Dollar drops! I was actually expecting this drop to happen yesterday but I’m glad it finally happened. I was so confused on why the dollar kept on rallying yesterday even after Yellen’s dovish statement. Looks to me that the dollar dropped during the Fed meeting, then tested top yesterday and finally dropped today; confusing, I know. Today’s trades were quiet simple: sell, sell, sell the Dollar. I even got a little fancy today and picked pairs I don’t usually trade with such as NZD/USD and USD/CHF.

I’m actually quiet glad the Dollar took a dip, Macro Economics still prevails. I would’ve been so confused if the dollar continued to rally, or in fact scared of it’s thriving strength if it continued. On that note, I’ll be bearish dollar for next week and look out for shorting opportunities.

Day 54: Dollar still too strong

+$14.72 $843.83

Wow, what a day. Today definitely took me by surprised. Yesterday I saw the dollar drop due to Yellen’s dovish tone however, the dollar was quick to bounce right back. To tell you the truth, I was in the negatives for the most part of the day. My goal was to short the dollar at any chance I got. It was only mid day when I got some profits going long dollar then going short at the end. The strength of the dollar amazes me how it can bounce right back after a dovish Fed talk, impressive.

Not too sure where the dollar will go from here. Will need a couple more days to evaluate and analyze how the market reacts. I want to say short dollar for tomorrow, but nothings 100% in the game of trading.

Day 53: Yellen surprises the market!

$11.24 $829.11

Today was the day many investors were waiting for. The falling stock market was awaiting a hawkish announcement as it was headed for another loss but was pleasantly surprised by Yellen’s dovish statement. In my opinion, what she did today was the best thing to do. She was cautious with her words stating a rate hike is possible in the near future and that her decisions will be data dependent.

All in all I think the Fed’s knew that the rising dollar was trouble in the long run and wanted to lower the dollar nice and gently. The decision to lower the dollar was ultimately better as it was gaining too much upward strength too fast. Next few days I’m guessing that the dollar will fall until it reaches support.