Breakeven: Short CADJPY

On 29/02/16 morning, I took a short trade on CADJPY after seeing a potential pin bar developing. I got in a good entry, at the lowest point of the pin bar. But if I see the chart now, I wouldnt want to short it. I would want to buy it. When I preparing to write this post. I started drawing the trend line and see that it has reversed its trend. In the daily chart overall its a down trend but the trend line shows that it has broken out of its trend line and has become a uptrend. Lucky this time it break even :) because I got a good entry and sitting on +100 pips before it suddenly reversed and breakeven :(

Next time I better draw my trend line before acting!

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle or 150 pips max (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)

Successful: Short EURJPY

On Tue 08/03/16 morning, I took a short trade on EURJPY after the confirmation of the 3 pin bar. It was a good trade but I think my entry can be improved. Waiting for the formation of the 3 pin bar was good but it took away most of my profit. I feel it wasnt a good entry as I missed out most of the move. The trade even went against me for a while before becoming profitable. I feel that this trade can develop better but I wasnt so comfortable about my entry so just took a small profit.

Then I read somewhere is that we can put our order at the high/low of the pin bar (centre candle) so that we can get a better entry. Less stressful and more profitable. Let's see how.

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle or 150 pips max (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)

Failed: Long USDZAR, Long USDPLN

On Monday 29/02/16 morning, I took 3 trades and all failed. The first one was stop out very fast within a day and I shared it here. On the weekly chart it was obviously a weekly bullish reversal but something happened to USD, some news or what which I didnt know caused the 2 pairs i long to reverse back down again. As mentioned in my failed long EURZAR trade, I placed my stop loss quite big as I dont want to get stop out unnecessary and doesnt think it will get hit as the weekly TF should have a more reliable price action.

These 3 trades really caused me to lose back all my profits earned from the previous trades and shaken my confidence. (-580 pips) and (-130 pips i manual cut loss early) :( . Consolation is that lucky i cut loss early. if i didnt cut loss, the 3 trades went against me even more and will lose even more!

i am going to risk 100 pips for each trade from now on!

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle or 100 pips max (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)

Failed: Long EURZAR

On Monday 29/02/16 morning, whats look like a bullish reversal on EURZAR turns out to be a big bear coming too fast and furious. It came down so fast and hit my stop loss within 1 day. Everything is ok for this pair, its on a up trend and got a bullish reversal but it could be at the end stage of its up trend as there's a lower high. This could be the thing why this trade didnt work out.

I spaced out my stop loss widely as I dont want to get stop out unnecessary but its a double edge sword. If it hits, the loss is huge. My biggest loss so far and I am licking my wounds -S$484.12 *ouch!*

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)

Sideline: Short EURZAR

On Monday 22/02/16 morning, I saw that there's a bearish reversal on EURZAR. There's also a nice mini Head and shoulder chart pattern formation which looks like a good shorting opportunity. The only thing that kept me away from trading this is that it is a counter trend trade ie it is against the trend. I wanted to monitor this forex and see how it develop. Yes, it went down for 1 day and looks promising. However, on the second day, there's a bullish reversal which cause it to move up. So it doesnt pay to trade against the trend as you are exposed to higher risk and smaller reward.

Well, I am glad I didnt trade this and give it a miss.

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)

Feb 2016 Portfolio

End of Feb, we see some mini rally on the stock market and people are saying we are at the bottom already. However, I am still not sure as I see that the down trend is still intact. Oil also made some mini rally which brings some relief to my oil related stocks such as Keppel Corp and Sembcorp. Maybe its time to buy some of them to average down :)

This month I added CMPacific into my portfolio.
CMPacific is a transport infrastructure company in China collecting road tolls in expressway. A rather stable and defensive stock if you asked me. During this bear, it also didnt go down by alot. Just glad to add some into my portfolio.

STI vs my portfolio

My portfolio is still hovering in the negative region :( but good news is that I beat STI at least a consolation prize :)

Period	STI	My Portfolio (Realised)	Verdict
Jan 2016	-20.78%	-15.15%	I win
Feb 2016	-18.98%	-12.11%	I win

Total 22 stocks in portfolio



Dividend
This month I received dividends from Keppel Reit, Sabana Reit and Second Chance.



Checkout my Dividend history

Dividend Stock Tracker
I keep track of good SGX dividend stocks such as 10 years consistent SGX dividend stocks, REITs, Business Trusts, etc with real time information update. Checkout the link below:
Checkout my Dividend Tracker

Successful: Short GBPUSD

On Monday 22/02/16 morning, saw a gap down and GBPUSD is in a long term down trend so decided to short 1 mini lot. Was thinking about doubling it up by shorting 2 mini lot because the hideous gap down does look good like a high probability short trade.

I was also amazed that by reading chart actually gives us the technical advantage to be in the market first before the majority comes in after the news. It was later in the morning, that I saw the news reporting about panic over 'Brexit' causing GBPUSD to dive lower.

Anyway was kinda happy to see that this trade works out well.
Got my biggest win so far: S$412.87

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)