The Alien Room My Trade Diary Aug 2016
I shouldn't be surprised by the interest in our trade performance. However, I was surprised by the overwhelming requests by other traders to know how we performed in Aug 2016. I should have put the trade diary up once August ended, but I was more interested to find trades and I forgotten all about it. So much for marketing.
Onlineforexmaster and The Alien Room became formal in June 6 2016. However, I have been guiding FREE in forex trading to Tflow® students as well as the public (via my charts and posts in twitter). The results - more wins than losses. Base on my own performance, sometimes it's more than 1000 pips per month of net win.
When what I've been doing became formal (paid subscription), responsibilities became bigger.
The Alien Room is created with the idea of:
You won't know how to drive by attending lesson on driving theory. Likewise, you won't know how to trade unless you started trading.
Previously in TerraSeeds days, our emphasis was on forex learning + forex trading. However, for onlineforexmaster, I wanted to have stronger emphasis on forex trading. Therefore, starting from Day 1, Master Forex Course students have access to The Alien Room, where they could see how we plan, execute and manage a forex trade.
This fits our tagline:
LEARN, FOLLOW, EMPOWER
Yet, building principle of myself and my partner is still to focus on forex learning.
Forex Learning, Follow the master, Be empowered
In The Alien Room, I always explain WHY I'm looking at this trade, HOW to discover trade opportunities, WHAT to do if a trade turns sour etc. I could have provided a typical trade signal such as buy at x price, stop loss at y price etc. But no, I didn't want to do that. I needed my members to learn and ultimately move towards being empowered.
However, I have not taken note of one thing:
Not everyone can handle small losses well. Not everyone can ride a trade fully till a move has ended.
Trade Diary - main point to note for Aug 2016
This is the time when I introduced trades that have tight stop loss but if they are correct, could result in a multiple bagger (big winner). However, multiple small losses resulted in low morale. Trades were spike out easily especially when Aug was a tight ranging market.
Additionally, counter trend is not our expertise. Many currencies especially GBP was doing a counter trend which I avoided totally.
Still a winning month
Nett win of 243pips. There are many small losses, and one or two big wins. This is because I went aggressive second week and exposed students to trades with tight stop loss but if correct, can result in big win. Coupled with a tight ranging market, we had many small losses.
See our trade diary for August and trades executed.
Tight ranging, counter trend in August
Counter-trend trade was something that I cautiously avoided. Most GBP crosses was making a counter trend movement.
Towards the last 2 weeks of August, price was trapped in a tight range, with no clearance of any major support or resistance. I still go ahead to trade, but decided to keep losses very tight.
Summing up our performance since start of The Alien Room. Still no losing months.
- June 2016 Nett Win 275 pips. Download June 2016 trade diary
- July 2016 Nett Win 1741.50 pips. Download July 2016 trade diary and see our trades!
- Aug 2016 Nett Win 243 pips. Download Aug 2016 trade diary and see our trades!
Monthly Trade Performance (pips) - No losing months yet
- Win or loss (pips)
- Win or loss (pips)
Improvements and changes made in September
I decided to introduce a "RISK LEVEL" to The Alien Room members. There are some very experience traders who don't mind trading onto a very strong level (a make or break level). They do not mind risking 30 to 50 pips for a homerun trade. By second week of September, we were back to normal. All winning trades (except for one that was set into break even, but eventually reached our target profit too).
I happy to say that there was a huge win fall in second week of September.