Fundamental Announcement Planned For This Week

In a couple of past posts I have mentioned trading fundamental announcements.  I have realized that many of you may be interested in what announcements that I plan on trading.  Also I have not posted about how to find these announcements.  I use 2 differents calendars to find these announcements.  On the weekends I make a list of all the announcements I can feasibly trade for the next week.  I try to trade at least six of these a week, sometimes more, sometimes less.  It all really depends on the profit I have made.  If I make a decent profit early in the week, I will not trade the ones that require me to get up in the middle of the night for example.  With no further ado, here is my tentative trade plan for the week.  All times are listed in central standard time.

 

Sunday 9/28/08

4:45 pm NZD Trade Balance

 

Monday 9/29/08

4:45 pm NZD Building Consents

8:30 pm AUD Building Approvals

9:00 pm NZD NBNZ Business Confidence

 

Tuesday 9/30

3:30 am GBP Current Account

3:30 am GBP Final GDP q/q

3:30 am GBP Revised Business Investment

6:50 pm JPY Tankan Manufacturing Index

 

Wednesday 10/01

3:30 am GBP Manufacturing PMI

8:30 pm AUD Trade Balance

 

Thursday 10/02 

1:00 am GBP Nationwide HPI

Friday 10/03

3:30 am GBP Services PMI

 

I rely on two fundamental announcement calendars for this information.  The first of these is Forex Factory. I only trade the ones that are listed as heavy impact. I also trade off of PFX Global.

Both of these sites are incredible. Forex Factory has incredible forums listing any and all forex topics that you could imagine. PFX Global has a very interesting outlook on trading forex. They also some pretty decent free forex courses. As I trade these fundamentals I will update this blog with the results of the largest gains and losses. If the loss or gain is only a few pips I do not list it, who really cares if I lose or gain 3 pips. Anyway that is the tentative trade schedule for the week, hopefully I will be very profitable with these announcements. I will be trading 2 micro lots at a time this week, since last week ended profitably.
Happy Trading!
rgrace

Summary of Trade Results For Last Week

My account balance for the end of the week is: 1370.92.  This is a gain from my large loss.  The reason for such a small gain is I have temporarily cut my lot size down to 1 micro lot.  This is until I can consistently show a gain.  Every week I will increase my micro lots by one, as long as I am profitable for the week.  If I encounter an unprofitable week I will lower my lot size by 1.  I will continue the increase until I reach 1% of my account size.  At this point I will trade until I have one full month that is profitable.  Then I will continue raising my lot size until I reach 2% of my account risked on each trade.  I have read in many books that good money management is the number one contributing factor to success in the forex market.  Conversely the lack of money management is the number one cause of failure in this market.  

 

Hwppy trading!

rgrace

Trading Gains

As I posted last, I have been trading Fundamental Announcements following the Explosive Profits Strategy.  So far, so good.  I made 65 pips a couple nights ago.  That would have been a decent gain if I were still trading 7 micro lots.  My lots have been cut to 1 micro lot, until I gain more experience in trading.  This has been done to minimize my losses.  This has of course minimized my gains as well.  The trade was an incredible trade, it only took about 2 hours till completion.  My gain was only $6.50 due to the small lot sizes traded.  This is a paltry sum, but as I stated earlier this money is education money.  I am trading so that I can learn.  As I progress and stay profitable my lots will slowly increase until I am able to make good money trading.  I am expecting this to take a year or more, I only hope my account can survive to become profitable.  So far for the week I am up 38 pips,  I have had a few losses that cancelled out a little of my profit.  If I were trading mini lots this would be a $38 profit.  If I were trading a standard lot it would be $380, not bad for a beginner.  Sorry I have not been updating as often as I would like,  I am working a full time job during the day, then getting up at all hours of the night to trade forex.  I have been running on fumes, getting about 3-5 hours of sleep a night.  This will all be worth it in the end though.  I am determined to learn this business, and when I do the results will be shown here.  I am sorry if this post is incoherent, I am very tired right now and not in the best of moods.  I will read it again this weekend and make modifications as needed.

 

Happy Trading!

Rgrace