I ended the month with +1.93%, so it wasn’t a bad month. I’m not quite back to the level that I was at back in January. On the whole, I’m satisfied with how the month went. There wasn’t too much more that I could do, given the setup.  To see all of my trades, check out my MyFxBook report.

I guess it could have been worse…could have been this guy:

Does that look familiar?  I hope not.

That is probably the worst Forex commercial ever.  They show a loser, but say that winners trade with Alpari.  Hmmm….

How was your trading this month? Let me know below.

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Here is the trade:

The final result was a -0.99% loss on the account. To see all of my results from this trading strategy, check out my online report and follow how tested this trade.

February 2012 Results

I finished February down -2.79%.  As I mentioned before, if I had taken two setups that were available, I probably would been profitable, or at least broke even.  In case you missed it, here is the video that shows the other setup that I should have taken.

What’s Next?

I haven’t been giving my trading the attention that it needs for me to get to the level that I want.  I’m going to be much more aggressive about getting back to testing systems that will allow me to make more consistent income.  My initial thought is to start looking at 15 minute trading strategies.

The 1 hour timeframe is good because I don’t have to watch it as often, but that also means fewer opportunists to apply my advantage.  I need more opportunities if I want to grow my account faster.

However, I will continue to trade the Wallaby 1 hour strategy since I have put in the time to test it and I do feel that it is a viable way to trade.

I have ordered the AUDJPY course (affiliate link) from Chris Lori and I look forward to checking it out. Stay tuned for the review on the product.

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So, getting into the trades for today.  These are two trades that I took earlier in the month.

The first trade went down on the 9th and it looked like a good setup.  Price was ranging at a resistance level and it looked very toppy to me.  So when there was a divergence, I took the trade and got stopped out immediately.  As it turns out, it was a top, but the next divergence was the top…and I didn’t get in the second time.  This resulted in a -0.78% loss.

The second trade took place on the 15th and this time, I went long.  Price continued to head down and I got stopped out. That trade lost -0.91%.

I’m OK with these losses because they were both under 1%.  My only disappointment was that I should have taken the second setup on the 10th.  That would have made my money back and then some.

Anyway, here is the video:

If you want to see how I am going with the Wallaby trade, check out my full trading report.  To see the entire history of how I started learning, testing and trading the Wallaby, check out the series here.

How is your trading going?  Did you also open a can of LOST?  Or are you winning?

They tried to make a TV series, but it got canned

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Photo Credit

The trade that got stopped out was in the AUDJPY.  As you probably know, I have been watching this pair quite a bit and looking for a good place to go long.  I got a little too excited and took a trade that I shouldn’t have.  But anyway, I explain it all in this short video:

Trade Review

GBPCHF #1: -0.49%

GBPCHF #2: -0.48%

As you can see from the video, I didn’t reverse the position after I got stopped out and I paid for it.  Not a good night at all, losing almost 1% on the account.  I usually don’t lose that much in a night.  I have to stop and review my trades for this month.

Trade Review

Same story as the previous trade, I should have reversed the trade. The final result was a -0.67% loss on the trade.

I have to fix my spreadsheet to get the risk parameters more in line.

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Trade Review

This trade resulted in a -0.63% loss on the account. This was a larger loss than my maximum loss of -0.50, so I have to see why took a larger position. I think it has to do with the calculations on my risk calculator spreadsheet.

Trade Review

GBPCHF: -0.14%

Even though it wasn’t a great trade, I am OK with it because I hardly lost any money on it.