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Forex Trading February (updated) Update ~ xlt forex trading and analysis sessions
I would not believe ill be saying this at the beginning of the month but..
. "I didnt burst my account!!!"
Whew! Trading is indeed risky and volatile, if you do not manage it properly. I was experimenting different strategies with different indicators and almost went into a losing position. It was a good think my mentor manage to hit me back on the right track towards the end of the month before my trades turn into profits.
See my roller coaster ride below...
Trades in the beginning of the month.
Some of my better trades above.
Summary of all trades
| Currency pair | Total Profit | Total Loss | Balance | |||
|---|---|---|---|---|---|---|
| audjpyx | 143.04 | (52.65) | 90.39 | |||
| audusdx | 15.59 | (11.50) | 4.09 | |||
| eurgbpx | 67.85 | (83.05) | (15.20) | |||
| eurjpyx | 11.65 | (52.94) | (41.29) | |||
| eurusdx | 68.64 | (26.05) | 42.59 | |||
| gbpjpyx | 6.57 | - | 6.57 | |||
| gbpusdx | 31.97 | (34.50) | (2.53) | |||
| nzdjpyx | 6.17 | - | 6.17 | |||
| nzdusdx | 33.22 | (42.50) | (9.28) | |||
| usdcadx | 61.51 | (20.80) | 40.71 | |||
| usdjpyx | 48.45 | (78.62) | (30.17) | |||
| TOTAL | 494.66 | (402.61) | 92.05 |
It is interesting to know i spent more time organizing the data than placing the actual trades. And check out my profits and losses! Its like the case of having to score more goals against the opponent than conceding. However, in this very educational month. I learnt that it was better to trade at the times when the market is open for a particular currency pair as there is more volume and is therefore easier to trade.
eg. Tokyo Stock Exchange opens at 8am SG time, therefore i will pay more attention to JPY currency pairs.(I have listed the opening times of some major currencies on right side of my blog for easy reference)
New York opens at 10.30 pm to 5 am (SGD Time)
Tokyo opens at 8 am to 2 pm (SGD Time)
Sydney opens at 7 am to 1 pm (SGD Time)
London opens at 4 pm to 12.30 am (SGD Time)
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