Silver trigger, Account holding well over 100%

The silver entry position posted earlier today was triggered, gold was very close. There are no new trades today, just tightening of stops, many into profitable or near profitable territory.

I sent out an email before stating that my goal was to surpass the 100% return in less than a month. Now, in 27 days, under 4 weeks of time the current equity is at over 117% return without risking more than about 3% in any one position. This was accomplished with slower moving trades off the daily charts, not scalping the 5 minute charts. On significant breakouts I added to positions such as on silver today. I manually trailed stops that allowed for shortened losses, but all in all this has been a conservative trading style.

I do not expect these kind of returns continuously. If I hit 50% for the year I would be out performing 95% of all funds out there. We have hit 117% in a short time frame.

To compare to Barklay's Top CTA funds, they on average are down nearly 1% for March and up 0.01% in April.

This index I am referring to can be found at http://www.barclaygrp.com/indices/btopfx/


Best of success.

Blake Young
Random Acts of Forex
http://randomactsofforex.blogspot.com

Placing additional entry orders on Gold and Silver

Gold and Silver are running higher and higher. I am placing an entry order for both, which will add to my positions if gold moves over $622.85, beyond todays R1 and well above the pivots. Silver entry order above $14 at $14.10 which is R2 and a nice round number which precious metals seem to enjoy breaking through. If you do not have spot market available for the precious metals and do have a stock account, these trades can be used frequently with gold and silver mining stocks or by trading some of the indexes or futures.

I have activated the http://www.weblogs.com/ update on this blog. This means if you set up an account with http://www.weblogs.com/ they will notify you everytime my blog (or other blogs you may be interested in tracking) is updated. I believe this is a free service.

Questions and Answers

I would like to get some more dialog going. If you have questions or comments email actsofforex@gmail.com and let me know if you would like your question answered on the blog rather than going through the comment area. If it is a private/personal question that you would like answered, please specify. Please be thoughtful in your questions and comments as this should be a learning forum.

I will leave this open until the # of questions or comments is too taxing to my time, otherwise it is open to questions immediately. Share the email, share the blog, let's learn together.

If you would like to be part of the email list and you are not currently, email actsofforex@gmail.com and I will include you on the list. Emails go out occasionally on non standard updates of the blog (meaning not in the afternoon) and if I want to add additional information not published on the blog. I may answer some of the questions through the email rather than the blog.

Blake Young
Random Acts of Forex

Anti dollar plays

There are a lot of new positions and break outs today. Because of the number of signals today, I am taking half sized positions on everything that is anti dollar. This is not because of my love for the dollar, rather because if the new 6 trades are all retracements that would be painful. Instead I am taking all 6 new signals entering half the size I normally would and adding to my Gbp/Jpy position.

See below for the current trades, new trades and current equity.

Happy Trading.

Blake Young
Random Acts of Forex

Euro Break out

This was the bounce and possible entry signal I was discussing. Great break, great run, lots of money to be had, Blake was moving from one house to another and didn't catch the trade.
Bummer.

Even though this trade was not entered into the other active trades are doing really well and I added to the silver position. I am expecting a number of signals at close today.

Current Positions

For you night owns, the Bank of Japan minutes are tonight at 1am est. It could be very interesting and volatile time.

Possible break outs

No , I didn't forget about you. There were no real signals yesterday and today we can see the markets are fairly quiet. I am feeling a push against the dollar and expecting the Eur and Gbp to possibly make the move first. The weakening dollar which I believe is impending, could also break gold out above 600. I am going to tighten my gold stops and the reset an entry near $604. If we can't break that level gold will probably putter around in the 590s.

The Gbp/Usd is close to moving beyond a level of resistance. The price movement today has arguably passed above resistance. I want to see a close past 1.7535 at which point I will go long the pair. Climbing oil prices will only add to the move.
















Looking at the Eur, this could be testing old resistance on a large wedge ready to move us to the 1.2500 level or higher.





















Blake Young
Random Acts of Forex

Usd/Jpy Whipsaw and an Entry on the Gbp/Jpy

The Usd/Jpy trade went positive nearly 50 pips before retracing into negative territory today. Initially the indecision by the Bank of Japan caused weakness in the Yen but speculation of an interest rate change in July or August pulled it right back in down. Surprisingly I have a buy signal on the Gbp/Jpy, posible a reason to consider going long the Gbp/Usd instead. But as I said before I am a rule follower when it comes to my trading.

That being said I broke a rule and chased gold, jumping the gun instead of waiting. I could have got a rate $4 better at the target I suggested yesterday rather than getting in at 597.88 (could have been in at 593.50 if I just waited for the day to end). As much as I would like to get in even now at 595 this would be over leaveraging a single trade which would be an even rule to break.

As a side note. When I post my current postions, it shows average price. If I bought in twice it will only show one position with the average of the two values.

Tomorrow should have an active morning. Lets see if we can't break 100% total account increase and double the account before the one month mark.

You can double click the current standing to see the image more clearly.

Chasing the glitter again

Gold is showing the pull back as anticipated. Key support appears to be a little higher than I had anticipated, closer to 597, which also matches the S1 for you pivot followers. For those who do not trade gold, the Aud/Usd appears to be mimicking the gold move today with a pull back to recent resistance acting as a new support. A buy at 0.7320 would be a decent entry point targeting a potential move to 0.7400 over the next day or two.

While I am typing this I am seeing gold push back up. I think I will get in near $597.50. If gold can break $603 as mentioned yesterday, I will expect a push towards $611 as the next point to watch.

All positions are still in the black and running well this morning.

Blake Young
Random Acts of Forex

Adjusted stops and long the Usd/Jpy

I am still watching for an re-entry for gold. Either a break higher or a pull back as a good entry. The Usd/Jpy gave a long signal with a somewhat tight stop loss. See the current positions. This past 3 weeks is near my record run, similar to a time when I did over 250% in 3 months. This is not common with conservative money management. Gold and silver have helped a lot. Silver is still running and gold is going for another break of the $600 level. Keep an eye on these.

Blake Young
Random Acts of Forex

Limited out of gold, watching for entry position

Gold has treated me rather well. I limited out of my gold positions today at $599.10 and I am watching for a pull back or a break above the key $600 level to get back in. If gold pulls back at the end of the day I will expect another day of pull back and watch for an entry near $590-$594. If Gold breaks to the top side, I will wait until the break is about $602, allowing for a strong enough break as confirmation to the trade. Silver is still running well, as are all the other current positions. I will be moving most if not all stops losses into profitable territory this afternoon.

small account percentage as of this post from 3/23... up 65%

Blake Young
Random Acts of Forex

Thank Heaven for Rules!!!

Well, I took the trade on the Eur/Aud and the trade is 150 pips positive. Hurray for RULES!!!!. We are watching for unemployment #s (USA) to bring the Euro down further and rising gold to continue that run. With some luck we will be able to extend all the trades to new heights. Currently the success rate is in the high 70% and the account equity is up 46% on the smaller account and we have about covered the pull back on the larger account. I am at the live event through today and I will have to update trades when I get a moment later. Watch for an update. Those on the actsoffforex@gmail.com mail list I will try to send out positions and new trades on the email as well.

Blake Young
Random Acts of Forex

Short the Eur/Aud?

That question mark is not a typo. I have been trading a system using pivot points and moving averages. Today I received a short signal on the Eur/Aud. This intrigues me because the pair has traded very flat. The Eur/Aud is only down about 10 pips from the lowest close over the past 5 days but the consolidation has made my signal trigger. Very interesting. I am a rule follower for the most part so I did take the trade and put 3% into the trade. Keep your fingers crossed on this one.

The current equity in the smaller account is up over 35% as of today. Keep it comin'!

Run Run Run Just as Fast as You Can

I am still running behind. I am at a live training this week and will be setting up some further trades. Currently the small account is at 640, up over 30% in under 10 days. Hurray, go gold.

Running Behind

I am running behind and will need to post new trades and current standing later on today. Small account is up 12.5% currently.

Current Standings 03-28-06

Volatile Rough Ride

The Fed announced another rate hike and anticipated further rate hikes to come. This caused most of the trades to close out. You will notice the arbitrary 2 mini contracts with the larger account is suffering, this is due to both the non refined money management and the inability to trade gold and silver. We got placed in to long the gbp/jpy and the usd/jpy. I stated the other day that I was surprised I got a short position on the gbp/jpy. This trade is more in line to what I expected. I am very pleased with the fact the better money management, smaller account is still up over 10% in 5 days. Not a bad return.

Blake Young
Random Acts of Forex

Quick Grab

Played the announcement for a quick $5 grab on the Eur/Usd. Watching for the Eur/Usd to continue a move below 1.1985 on the down side or a retracement above 1.2115. Either brake should generate a move of 100 pips or more.

Also entered the Gbp/Jpy on a price pattern looking for nearly 200 pips with a 50 pip stop, 4 to 1 RR ratio. Gold has pulled back due to the interest rate change. Money moving from gold to a potential interest play with the dollar.

Blake Young
Random Acts of Forex

Current Positions 03/27/06 

Little Losses Big Wins

Excluding Gold, the losses (stopped out on 3 trades) were smaller than the gains. Including gold the returns are phenomenal. You will note that the smaller account that trades gold jumped to 13% over all return for less than a week, the larger account without gold is still doing great for a one week return.

I am a little surprised at the Gbp/Jpy trade coming up today, with the consolidation in this pair. This week I am expecting some tightening down due to consolidation ahead of the FOMC meeting.