tag:blogger.com,1999:blog-61463507688226903992024-03-18T23:20:09.273-04:00Forex Rollercoaster of DeathThis blog will chronicle my attempt to trade a very small account ($111.00) using the most aggressive position-sizing possible in order to grow equity as quickly as possible. I expect the ups and downs to be gut-wrenching. I DO NOT RECOMMEND THAT ANYONE TRADE THIS WAY!!David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.comBlogger410125tag:blogger.com,1999:blog-6146350768822690399.post-35893141385416014662010-01-25T13:57:00.000-05:002010-01-25T13:57:53.496-05:00Next bad idea always in progress...I decided to get long the Kiwi after last week's pullback and the overnight strength.<br />
<br />
Current open equity: $25.39<br />
Current closed equity: $25.74<br />
Current position: Long 514 NZD/USD at 0.71468<br />
Current exposure: 71 pips, $3.65 or 14.18%David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-45375970603283932552010-01-25T13:51:00.000-05:002010-01-25T13:51:51.662-05:00Whack!Oh well... USD/CHF took out the stop overnight.<br />
<br />
Previous equity: $ 30.15<br />
Change: -$ 4.41<br />
% Change: -14.63%<br />
<br />
Current closed equity: $25.74<br />
Current position: flat<br />
Current exposure: 0David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-72326597055258058462010-01-22T11:26:00.000-05:002010-01-22T11:26:19.484-05:00New blog for the primary strategy:http://steelvalleysqueeze.blogspot.com/David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-36690251484439456362010-01-22T09:45:00.000-05:002010-01-22T09:45:14.469-05:00Next up... hopefully the USD!Trade on! Looking for some more USD strength, this time against the Swissie.<br />
<br />
Current open equity: $29.25<br />
Current closed equity: $30.15<br />
Current position: Long 904 USD/CHF at 1.04218<br />
Current exposure: 50 pips, $4.52 or 14.99%David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-69509739639646073372010-01-22T09:19:00.000-05:002010-01-22T09:19:35.587-05:00Another disappointing profit...Sure... 224 pips is nice, but I had over 400 in this trade at one point. This is one of the many things that makes profitable trading so difficult. If you hand me 224 pips, I'm happy... but if you hand me 400 and take back 176, I'm bummed even though the net result is the same! This is the pernicious Endowment Effect in action. (Killer of many accounts.) On to the next trade... <br />
<br />
Previous equity: $ 17.44<br />
Change: +$12.71<br />
% Change: +72.88%<br />
<br />
Current closed equity: $30.15<br />
Current position: flat<br />
Current exposure: 0David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-87675612229329435572010-01-07T09:31:00.000-05:002010-01-07T09:31:13.007-05:00Locking in 224 pips!Still rockin'!! We're holding on to Monday's gains so far. I want to give the trade some room, especially with the Number of All Numbers due tomorrow morning. If this stop gets hit, I'll be bummed, but I'll have taken a nice big chunk out of this little uptrend.<br />
<br />
Current open equity: $37.16<br />
Current closed equity: $17.92<br />
Current position: Long 522 AUD/USD at 0.88266<br />
Current exposure: 0David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-14391395323024386332010-01-04T07:03:00.000-05:002010-01-04T07:03:24.732-05:00Locking in 103 pipsOz is opening the week by charging higher in the London session. I'm up 235 pips! We are close to where the decline started back on December 14. There is very likely some supply up here, and if today's and Thursday's gains are given back, I will be out and very likely looking to get long the US$. I'll probably look to the Loonie for that... the cost of carry on short Aussie positions is not attractive.<br />
<br />
Current open equity: $30.02<br />
Current closed equity: $17.81<br />
Current position: Long 522 AUD/USD at 0.88266<br />
Current exposure: 0David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-34364315773257326922010-01-01T10:22:00.002-05:002010-01-01T10:49:03.441-05:00Prediction is very difficult......especially about the future! Here were my prognostications for this past year... let's see how it shook out:<br />
<br />
<br />
1) Both the Euro and British Pound will trade at parity with the US Dollar.<br />
Well, both hit multiyear lows against the greenback, but not *that* low. I still expect this to happen sometime.<br />
<br />
2) The Dow Jones Industrial Average will trade in the 5,000s.<br />
Nope... got within 440 points though! One hell of a bear market rally ensued and is still playing out.<br />
<br />
3) There will be a domestic attempt on the life of a high ranking Federal official. (Cabinet level or higher.)<br />
Nope.<br />
<br />
4) The wars in Afghanistan and Iraq will both escalate and become increasingly unpopular.<br />
Sure... but this was like predicting sunrise.<br />
<br />
5) The Obama administration will attempt a New Deal 2.0, which will be a larger and more destructive unacknowledged failure than the first one.<br />
Again.... like predicting sunrise.<br />
<br />
6) Americans will largely remain as stupid and apathetic as ever.<br />
This one was really more of a frustrated whine than a prediction. <i>Boobus americanus</i> has certainly been busily breeding and relentlessly abusing his resultant spawn... but I have been pleasantly surprised this year by many of my fellow tax-cattle.<br />
<br />
7) I will achieve a new equity high in this account and in my others.<br />
Not on this account...because I mostly stopped trading it until recently. I did achieve new equity highs in my main account before I had to stop trading that one too.<br />
<br />
All in all, it has been a very interesting and fantastically productive year. In fact, I will likely look back on 2009 as the year I truly came alive. If life does begin at 40 for most people, I'm glad to have gotten a 2 year head start.<br />
<br />
Happy New Year and Decade!David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-66516583174240311622009-12-30T06:34:00.000-05:002009-12-30T06:34:28.144-05:00Locking in 37 pipsLooking at yesterday's action, I'm going to dump this trade if yesterday's low is taken out... hence the odd number of pips being locked in.<br />
<br />
Current open equity: $23.36<br />
Current closed equity: $17.63<br />
Current position: Long 522 AUD/USD at 0.88266<br />
Current exposure: 0David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-5812907152397800982009-12-29T06:47:00.000-05:002009-12-29T06:47:34.432-05:00Stop to breakevenBreaking nicely higher! Sitting on a 150+ pip profit so far... <br />
<br />
Current open equity: $25.58<br />
Current closed equity: $17.59<br />
Current position: Long 522 AUD/USD at 0.88266<br />
Current exposure: 0David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-41551242585758044312009-12-24T11:40:00.000-05:002009-12-24T11:40:57.543-05:00Trade on!The original price didn't get hit, so I moved in on the pullback from this morning's high.<br />
<br />
<br />
Current open equity: $16.94<br />
Current closed equity: $17.44<br />
Current position: Long 522 AUD/USD at 0.88266<br />
Current exposure: 50 pips, $2.61 or 14.96% of current closed equity ($17.44)David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-32832578384836717742009-12-23T12:37:00.000-05:002009-12-23T12:37:11.983-05:00Going long down underLooking to get into the Aussie $ for a little while...<br />
<br />
<br />
Pending order 1: Long 522 AUD/USD at 0.8780<br />
Initial stop: 0.8730<br />
Initial exposure: 50 pips, $2.61 or 14.96% of current closed equity ($17.44)<br />
<br />
Current closed equity: $17.44<br />
Current position: flat<br />
Current exposure: 0 David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-35719624650723685872009-12-23T07:17:00.000-05:002009-12-23T07:17:30.975-05:00Stopped out for 100After what seems like an eternity, USD/CAD finally dropped enough to hit the stop. Disappointing, but it could have been worse. On to the next bad idea!<br />
<br />
Previous equity: $ 13.67<br />
Change: +$3.77<br />
% Change: +27.58%<br />
<br />
Current closed equity: $17.44<br />
Current position: flat<br />
Current exposure: 0David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-76706154030804249052009-12-17T06:22:00.000-05:002009-12-17T06:22:20.011-05:00Locking in 100USD/CAD has broken nicely higher... finally! I'm sitting on 300+ points in profit, so I'm taking this opportunity to lock in 100 of those points. I'm shooting for many more, of course.<br />
<br />
Current open equity: $25.35<br />
Current closed equity: $13.56<br />
Current position: Long 410 USD/CAD at 1.0425<br />
Current exposure: 0David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-66044470040756635732009-12-03T08:45:00.000-05:002009-12-03T08:45:21.882-05:00Stop to breakevenSitting on a nice 90 pip profit so far...<br />
<br />
<br />
Current open equity: $17.19<br />
Current closed equity: $13.67<br />
Current position: Long 410 USD/CAD at 1.0425<br />
Current exposure: 0David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-19039737951456130312009-12-01T11:22:00.000-05:002009-12-01T11:22:13.727-05:00Trade on!Let the losing begin....<br />
<br />
<br />
<br />
Current open equity: $13.06<br />
Current closed equity: $13.67<br />
Current position: Long 410 USD/CAD at 1.0425<br />
Current exposure: 50 pips, $2.05 or 14.99% of current closed equity ($13.67)David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-83921815158009078002009-12-01T07:22:00.000-05:002009-12-01T07:22:44.156-05:00Once more unto the breach....I'm a buyer of this pair if it can get down a little more.<br />
<br />
Pending order 1: Long 410 USD/CAD at 1.0425<br />
Initial stop: 1.0375 <br />
Initial exposure: 50 pips, $2.05 or 14.99% of current closed equity ($13.67)<br />
<br />
Current closed equity: $13.67<br />
Current position: flat<br />
Current exposure: 0 David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-88311439249054697102009-12-01T07:10:00.001-05:002009-12-01T12:22:56.101-05:00A Happy Birthday kick in the nads...Markets are merciless! USD/CAD fell out of bed after an announcement by those evil monetary charlatans at the Bank of Japan. (Japan's version of the equally evil Fed.)<br />
<br />
Previous equity: $ 15.95<br />
Change: -$2.28<br />
% Change: -14.29%<br />
<br />
Current closed equity: $13.67<br />
Current position: flat<br />
Current exposure: 0David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-7002501938194992372009-11-30T07:14:00.001-05:002009-11-30T07:15:09.258-05:00Trade on!...in fact, since ~2:15 Sunday afternoon. The trade went from nicely profitable, to nearly being stopped out, and now back to just over breakeven. Who knows what will happen next...<br />
<br />
<br />
Current closed equity: $15.95<br />
Current open equity: $16.01<br />
Current position: Long 478 USD/CAD from 1.0580<br />
Current exposure: 50 pips, $2.39 or 14.98% of current closed equity ($15.95)David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-3416317921067468042009-11-27T10:37:00.000-05:002009-11-27T10:37:50.432-05:00Scratch Swissie....Since the USD has had a pretty violent reversal over the past day, I've decided to scratch the USD/CHF order, and move the USD/CAD order to a place where it might actually get hit...<br />
<br />
Pending order 1: Long 478 USD/CAD at 1.0580<br />
Initial stop: 1.0530<br />
<br />
Initial exposure: 50 pips, $2.39 or 14.98% of current closed equity ($15.95)<br />
<br />
Current closed equity: $15.95<br />
Current position: flat<br />
Current exposure: 0 David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-43626182815349851782009-11-26T10:11:00.000-05:002009-11-26T10:11:42.911-05:00Setting up another...Looking to get long USD/CHF if we can get down closer to the recent low. Whichever order triggers first, I'll cancel the other.<br />
<br />
Pending order 1: Long 478 USD/CAD at 1.0425<br />
Initial stop: 1.0375<br />
Pending order 2: Long 478 USD/CHF at 0.9960<br />
Initial stop: 0.9910<br />
Initial exposure: 50 pips, $2.39 or 14.98% of current closed equity ($15.95)<br />
<br />
Current closed equity: $15.95<br />
Current position: flat<br />
Current exposure: 0 David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-4639728128605042462009-11-25T08:10:00.000-05:002009-11-25T08:10:10.959-05:00Setting up....Getting long USD/CAD if we can get a little lower.<br />
<br />
Pending order 1: Long 478 USD/CAD at 1.0425<br />
Initial stop: 1.0375<br />
Initial exposure: 50 pips, $2.39 or 14.98% of current closed equity ($15.95)<br />
<br />
Current closed equity: $15.95<br />
Current position: flat<br />
Current exposure: 0 David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-91632290748348861332009-11-25T07:57:00.000-05:002009-11-25T07:57:39.111-05:00Oh, the pain...Uncle Sam's funny paper once again dashes the hopes of the people who try to hold it....<br />
I am totally considering trying it again, this time against the Loonie. <br />
<br />
Previous equity: $ 18.71<br />
Change: -$2.76<br />
% Change: -14.75%<br />
<br />
Current closed equity: $15.95<br />
Current position: flat<br />
Current exposure: 0David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-18906795950244468172009-11-23T06:58:00.000-05:002009-11-23T06:58:08.013-05:00Back in...Order 1 triggered. Go Greenback!<br />
<br />
<br />
Current closed equity: $18.71 <br />
Current open equity: $18.64<br />
Current position: Long 550 USD/CHF at 1.0096<br />
Current exposure: 50 pips, $2.82 or 15.07% of current closed equity ($18.71)David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0tag:blogger.com,1999:blog-6146350768822690399.post-38050284638033768052009-11-23T05:42:00.000-05:002009-11-23T05:42:19.418-05:00Back out...Stop got hit again. Resetting...<br />
<br />
Pending order 1: Long 550 USD/CHF at 1.0096<br />
Pending order 2: Long 550 USD/CHF at 1.0036<br />
Initial stop: 1.0046/0.9986<br />
Initial exposure: 50 pips, $2.82 or 15.07% of current closed equity ($18.71)<br />
<br />
Current closed equity: $18.71<br />
Current position: flat<br />
Current exposure: 0David A. Loboyhttp://www.blogger.com/profile/00560584664994095612noreply@blogger.com0