Trade Results For December 28, 2011

Written by Hugh, on December 29th, 2011

It has been awhile since I posted a trade, but there hasn’t been much to report. As I mentioned in a previous post, my trades haven’t been setting up so I have just been waiting around. It is just as well because the holidays have kept me a little busier than usual.

This trade required some patience. I actually entered the trade back on the 23rd and only closed it out last night. I exited the trade early, as you will see in the video.

This is something that I may not have done in the past, but my backtesting has helped me realize that sometimes it is better to take a small profit when price is not doing what I want it to, than to wait around to get stopped out. Will this mean that I will miss out on a big profitable move here and there?

Sure.

But I am OK with that.

The final result was a +0.17% gain on the account. That’s not going to get me my Porsche any time soon, but at least I didn’t lose money.

Click here to see my public report for the Wallaby trade. As I mentioned in this post, I have moved my journal back to MyFxBook and am using it with a very small live Oanda account. If you want to use MyFxBook with Oanda’s MT4, check out this post on hooking them up. MyFxBook also works with the Oanda FXTrade system too…and very well I might add. I’m glad that they got that fixed.

This will allow you to track my progress in real time and see how I am really doing. If you want to see the results of my trades as I close them, you can also follow me on Twitter. How many other forex trading websites actually show you their live results?