TurtleForex +408% 12 months trading

[TraderFX65]

Played a EUR short basket that worked out well for about 75 pips total...Then had that rare signal (which is not so rare these last few days) on GBP. That is a "Short across the board" signal, GBP not only gave the signal, but advanced to levels I have not seen on the SM (for GBP)....this made me cautious about going in two deep, so I played USD, NZD and JPY, took a quick 22 pips or so (4 minute trade) and closed them out. Great morning, 97.7 pips...

Happy Trading!

Joe

Turtle Forex

 

[TraderFX65]

August 7

Forgot to attach charts...

 

[TraderFX65]

August 7 - Part II

Got to do the first live screen cast of a trade set up and with a little help from some poor employment numbers from Australia we got got to bag 95 pips! I took an AUD short signal well before news as AUD had run itself up in early Asian trading. Now I am always aware of news coming out but generally dont let it stop me from taking a signal...I always have a plan in place for trades that may not go my way, regardless of what drives it.

So, I will admit to getting a bit lucky on this...it could have gone the other way, and had it we would have taken the JPY buy signals, and you see how well they would have done...so I think we would have come out of this in good shape either way......but not sense in thinking about what "could" have happened...all I care about it what DID happen...we made 95 pips..

I will be keeping the screencast free for the remainder of this week. I hope you can swing by and join me! : Live Screen Cast

Happy Trading!

Joe

 

[TraderFX65]

August 8

Well guys I exited the AUD longs for bout 11 pips total. Since I took the time to explain why I was getting in, I am now going to explain the reason for an early exit..

My reason for entering this trade was based on a few assumptions

1) That AUD momentum would continue...that's normally how these 4 HR trades go, we buy into strength. This was the primary reason for entry.
2) JPY would weaken...it had already made its highs and appeared to me that it was beginning its cycle down
3) Continued USD weakness...USD had also gave a 4 hr sell signal, so I was very confident about getting a move in our direction with this one.

All we really got was USD weakness. AUD had hit 60 on the Strength Meter last night, retraced and never made it above 58 while we were in the trade. JPY Strength persisted.

AUD strength was the "theme". That is what I was counting on to propel the trade...any weakness in the cross should have only provided an extra "boost".

Now I truly think that thing will end up where we thought. But I also know anything can happen and on the 15 minute charts it appeared to me that it was not worth the risk to remian in the trade...so I took the 10.9 pips and called it a wrap. Even if this goes on to where I thought, better to err on the side of caution. There will be plenty of other opportunities.

Happy Trading!

Joe

 

[TraderFX65]

August 9

Well it had to end at some point.

After 19 straight winning days I have finally had to close one in the loss column. And of all currencies it was an AUD short signal, which up until now has been hands down the safest short signal to take.

I took the typical 15 minute signal, it took about 45 minutes and AUD made a nice move down and I felt that this would surely be another winning trade..with no market moving news due out I felt there was nothing to stop AUD from completing the typical pattern. However AUD showed not only resilience, but flat out strength...I was able to pull AUDJPY off the table for 10.5 pips but then AUD went on a run that showed no sign of letting up. This is why it is so important to have a trade plan. AUD had taken out its daily ranges on CHF, EUR and GBP...with only USD remaining, the plan was to wait to see if AUDUSD hit its range on USD and if so if we got a meaningful reversal then I was going to consider entering recovery positions and try to reduce losses and maybe even close with profit if we got a nice reversal. AUD did finally take out it range on USD...but it only paused a bit then proceeded to take out resistance on the Strength Meter. At that point I felt the best thing to do was cut the trade. My equity stop had we entered recovery positions was .0075 (3/4 of a percent)...we got out at -.59% which wound up being a good decision as AUD moved up strong and even without recovery positions would have stopped out at .0075.

Even though we lost on this one I feel I managed the trade well. My primary concern is protection of capital so that we live to fight another day and I feel I did a good job with that... Monday will be business as usual..

We still ended the week up on the Conservative Growth account and we are at +.78% for the month. The Challenge account is up 2.8% this week and 5.9% for the month...

Have a great weekend!

Joe

 

[TraderFX65]

August 11

Off to a good start. 79.6 pips. I have a short EUR bias coming into this week, but also took a JPY buy signal and USD sell signal...USD actually did do what I was looking for it to do, but I got no co-operation from CHF, which resulted in the only loosing trade of the day.

Happy Trading!

Joe

 

[TraderFX65]

August 13

Took a JPY long basket as it looked like the JPY was an orphan at the bottom of the Strength Meter. I took positions against EUR, GBP, AUD, NZD adn CAD...at the time CHF was moving up and I didnt want to tangle with USD with Retail Sales coming out. 4 winners, 1 looser (GBPJPY), netted about 30 pips on the trade total...we'll take it..

Happy Trading!

Joe

 

[TraderFX65]

August 14

Was a battle today. Too many trades to post charts so today I am just going to post results. About +58 pips

Happy Trading!

Joe

 

[TraderFX65]

August 15

Whew...a lot of trades today. Some were on the Challenge account, so the totals for the Conservative Account are about 50 pips, another good day. Again, too many trades to post charts. Another great session in the Live Trading Screencast where we picked up another 50 or so pips...and traders were treated to a nice clinic on how the trade the TurtleForex.net Method...

 

[TraderFX65]

August 15

Whew...a lot of trades today. Some were on the Challenge account, so the totals for the Conservative Account are about 50 pips, another good day. Again, too many trades to post charts. Another great session in the Live Trading Screencast where we picked up another 50 or so pips...and traders were treated to a nice clinic on how the trade the TurtleForex.net Method...

Happy Trading!

Joe

Turtle Forex

 

[TraderFX65]

August 19

Ughhh...what a long day with a disappointing ending.

Got off to a good start with some JPY longs for about 30 pips...also took an EUR short against AUD and NZD then added some more NZD postions on an NZD buy siganal...and that is where things got difficult. The trading method I use counts on a certain pattern completing to give us our pips. Today I scratched away at a bunch of up and down movement in NZD and felt the longer we could hang in there, the better our chance of at least getting a move to get us out at B/E or with a minimal loss...unfortunately the market had other plans for NZD and I had to cut the basket for about a 1% loss, which is about .25% more than I wanted but the basket moved against me about 125 pips in a matter of seconds and I had to quickly close it out. With the +75 pips of closed trades that we had, we ended the day -.72% (-257 pips).

As disappointed as I am at the loss, I look at how much worse this could have been if I opened up the stop, EURNZD alone had moved over 100 pips beyond out exit, and GBPNZD 150 pips....WOW!

Not so happy, but happy trading anyway....

Joe

 

[TraderFX65]

August 20

I have to admit I was feeling a bit apprehensive taking a trade today, I literally had to force myself after yesterdays grueling session.

I had the signal to short EUR. I chose USD, JPY and GBP as the crosses and while AUD and NZD were showing they were good candidates I ignored them at first. After a rough start, with the basket going 30 or so pips against me, EUR started moving in our direction. I then worked up the courage to short EA and EN, though with a smaller size. I need to trust my signals and not let what happened the previous trade effect the current trade.

In the end we caught 38 pips...best I could have done was about 43 at that time so I was happy. I mentioned to JohnMarc in the Live Trading Room, that we cant let what happed yesterday effect the trade today. It's natural to want to "make back" what you lost...you cant look at it that way...on a "normal" day we are very happy with a 40 pip basket...what happened yesterday should not change that. Very happy with the trade overall. At first I was questioning the exit, but look what happened with EUR shortly afterwards. This is why you have to take what the market is making available and wait for the next trade.

Happy Trading!

Joe

 

[TraderFX65]

August 21

Sorry got a bit behind with the posts.

Some trades here are from Asia session on August 20. There are a lot of trades here. Basically just picking off NZD positions. These were all kind of risky trades with all the speculation pre-FOMC so they were only on the "Challenge" account. I did not take these on the Master account.

I'm looking forward to things getting back to "normal"...hehehe

Happy Trading!

Joe

TurtleForex.net

 

[TraderFX65]

August 22

Took an early EN short for about 12 pips and a JPY basket for 26.5 pips...38.5 total. Reports from the trading room are were showing more like 45 pips so happy to hear subscribers are doing as good or better than my slave account! I got out of the JPY trade without giving JPY more time mainly because JPY is giving a fresh sell signal on the 4HR and I really dont want to fight that too much...overall a good morning of trades...

Happy Trading!

Joe

TurtleForex.net