London Forex Open Journal

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  • #1534
    ReviewTeam
    ReviewTeam
    Keymaster

    London Forex Open Journal

    About This Journal

    Systems For Traders had to be rebuilt in 2013
    This system was on our Systems We Use list from Jan-2010 – Dec-2010
    This is a reconstruction of our journal including
    Key posts and comments from the original forum


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    #1539
    ReviewTeam
    ReviewTeam
    Keymaster

    Systems For Traders had to be rebuilt in 2013

    This is a selection of key posts and comments from the original forum prior to the rebuild – Part 1 of 3

    ReviewTeam

    31-Dec-2009

    This thread will be a journal of our London Forex Open trades.

    We have included our results from 2009 (November & December) and will continue to post throughout 2010.

    MAIN SYSTEM

    02-Nov Short +60
    04-Nov Long +120
    09-Nov Long +60
    13-Nov Long +60
    23-Nov Long +120
    25-Nov Long -20

    November Profit = +400

    01-Dec Long +120
    07-Dec Short +120
    18-Dec Long -20

    December Profit = +220

    With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, November profit = circa 10%, December = circa 5%.

    “ADVANCED” (FALSE BREAKOUT) SYSTEM

    Using the “advanced” (false breakout) system we had 3 trades in November (-90 pips) and 3 trades in December (+30 pips). This is a net loss of -60 pips, so about -4% based on 3% risk per trade and a Stop loss of 45.

    ReviewTeam

    01-Feb-2010

    Below are our trades for the month of January.

    MAIN SYSTEM (We trade the conservative strategy)

    05-Jan Short -20
    08-Jan Long +60
    11-Jan Long +60
    14-Jan Short -120
    18-Jan Long +60

    Profit/Loss = +40

    With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, January P&L = 1%

    “ADVANCED” (FALSE BREAKOUT) SYSTEM

    Using the “advanced” (false breakout) system we have had 9 trades producing a net profit of 80 pips, so about 5% based on 3% risk per trade and a Stop loss of 45.

    ReviewTeam

    26-Feb-2010

    Below are our trades for the month of February.

    MAIN SYSTEM (We trade the conservative strategy)

    01-Feb Long +120
    04-Feb Short +60
    11-Feb Short -20
    12-Feb Long -120
    17-Feb Long -120
    18-Feb Short 60
    22-Feb Long -120
    25-Feb Short 60

    Profit/Loss = -80

    With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, January P&L = -2%

    “ADVANCED” (FALSE BREAKOUT) SYSTEM

    Using the “advanced” (false breakout) system we have had just 1 trade this month producing a net profit of 125 pips, so about 8% based on 3% risk per trade and a Stop loss of 45.

    So, a net profit of about 6% this month.

    ReviewTeam

    03-Apr-2010

    Below are our trades for the month of March.

    MAIN SYSTEM (We trade the conservative strategy)

    9-Mar-10 -20
    11-Mar-10 +120
    12-Mar-10 +120
    15-Mar-10 +120
    16-Mar-10 +120
    18-Mar-10 -120
    19-Mar-10 +120
    26-Mar-10 -120
    29-Mar-10 +60

    Profit/Loss = +400

    With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, March P&L = +10%

    “ADVANCED” (FALSE BREAKOUT) SYSTEM

    Using the “advanced” (false breakout) system we had 2 trades, on the 25th March and 31st March, both were losers for a net 90 pip loss. Based on 3% risk per trade and a Stop loss of 45 this is a net 6% loss.

    So, a net profit of about 4% this month across both strategies.

    ReviewTeam

    05-May-2010

    Below are our trades for the month of April.

    MAIN SYSTEM (We trade the conservative strategy)

    9-Apr-10 Long +120
    20-Apr-10 Long +120
    23-Apr-10 Long -120
    26-Apr-10 Long -120
    27-Apr-10 Short +120
    28-Apr-10 Short +60
    29-Apr-10 Long +120

    Profit/Loss = +300

    With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, April P&L = +7.5%

    “ADVANCED” (FALSE BREAKOUT) SYSTEM

    Using the “advanced” (false breakout) system we had 3 trades, on the 6th April, the 13th April and the 21st April. There was one loser and two break-even trades so a net loss of 45 pips or 3% based on 3% risk per trade and a Stop loss of 45.

    So, a net profit of around 4.5% this month across both strategies.

    ReviewTeam

    01-Jun-2010

    Below are our trades for the month of May.

    MAIN SYSTEM (We trade the Conservative strategy)

    4-May-10 Short 120
    10-May-10 Long 120
    14-May-10 Short -120
    18-May-10 Long -120
    24-May-10 Long -20

    Profit/Loss = -20 pips

    With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, May P&L = -0.5%

    “ADVANCED” (FALSE BREAKOUT) SYSTEM

    13-May-10 Short 125
    19-May-10 Short 125
    26-May-10 Long 125
    27-May-10 Short 0

    Profit/Loss = +375 pips

    So, a net profit of 25% this month for the Advanced strategy based on a Fixed Stop loss of 45 pips and 3% risk per trade.

    An impressive +24.5% for the system as a whole for May – An excellent return based on the effort we put in !

    ReviewTeam

    02-Jul-2010

    Below are our trades for the month of June:

    MAIN SYSTEM (We trade the Conservative strategy)

    7-Jun-10 Short -120
    8-Jun-10 Short +120
    9-Jun-10 Long -120
    11-Jun-10 Long -120
    17-Jun-10 Short -120
    22-Jun-10 Short -20
    25-Jun-10 Short +60
    30-Jun-10 Short +60
    1-Jul-10 Short -120
    2-Jul-10 Long -120

    Profit/Loss = -500 pips

    With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, May P&L = -12.5%

    “ADVANCED” (FALSE BREAKOUT) SYSTEM

    2-Jun-10 Short +125
    10-Jun-10 Short 0
    18-Jun-10 Short +55
    23-Jun-10 Short -45
    24-Jun-10 Long 0

    Profit/Loss = +135 pips

    A profit of 9% this month for the Advanced strategy based on a Fixed Stop loss of 45 pips and 3% risk per trade.

    In total, a small loss of 3.5% for London Forex Open this month, our first ever loss with this system. After an excellent return of almost 25% last month this is a small set back to say the least.


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    #1543
    ReviewTeam
    ReviewTeam
    Keymaster

    Systems For Traders had to be rebuilt in 2013

    This is a selection of key posts and comments from the original forum prior to the rebuild – Part 2 of 3

    ReviewTeam

    30-Jul-2010

    Below are our trades for the month of July:

    MAIN SYSTEM (We trade the Conservative strategy)

    7-Jul-10 Short -120
    9-Jul-10 Long -120
    15-Jul-10 Long +120
    16-Jul-10 Long -120
    21-Jul-10 Long -120
    27-Jul-10 Short -20

    Profit/Loss = -380 pips

    With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, July P&L = -9% (ish)

    “ADVANCED” (FALSE BREAKOUT) SYSTEM

    13-Jul-10 Short -45
    19-Jul-10 Short +125
    22-Jul-10 Short -45
    23-Jul-10 Short -64
    29-Jul-10 Short 0

    Profit/Loss = -29 pips

    A loss of 2% (ish) based on a Fixed Stop loss of 45 pips and 3% risk per trade.

    In total, after our first losing month last month (-3.5%) we have hit two in a row – A combined -11% for London Forex Open this month, our worst ever months performance with this system.

    Regardless of these set-backs we are still up over 30% this year and are hopeful of a return to profitability, sooner rather than later.

    ReviewTeam

    30-Aug-2010

    Below are our trades for the month of August:

    MAIN SYSTEM (We trade the Conservative strategy)

    2-Aug-10 Long 120
    6-Aug-10 Long -120
    9-Aug-10 Short +120
    13-Aug-10 Long -20
    17-Aug-10 Short -120
    19-Aug-10 Short -147
    20-Aug-10 Short +120
    24-Aug-10 Short -120
    25-Aug-10 Short -120
    26-Aug-10 Long -120
    27-Aug-10 Short -120

    Profit/Loss = -527 pips

    With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, August P&L = -13%

    “ADVANCED” (FALSE BREAKOUT) SYSTEM

    3-Aug-10 Short 0
    4-Aug-10 Long 0

    Profit/Loss = 0 pips

    Break-even for the month.

    This is a terrible trading month for London Forex Open and quite a large losing streak, it means we are suffering an almost 30% drawdown on account since May, just 3 months.

    We now stand at around 15% up on the year from over 45% in May. Here’s to hoping for some return to profitability with the end of the Summer holiday season upon us.

    ReviewTeam

    09-Oct-2010

    Our woes continue …

    Below are our trades for the month of September:

    MAIN SYSTEM (We trade the Conservative strategy)

    31-Aug-10 Short -120
    2-Sep-10 Short -20
    3-Sep-10 Long -120
    9-Sep-10 Short -20
    22-Sep-10 Long -120

    Profit/Loss = -400 pips

    With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, September P&L = -10%

    “ADVANCED” (FALSE BREAKOUT) SYSTEM

    10-Sep-10 Short Break-even
    23-Sep-10 Long +47
    30-Sep-10 Short -45
    1-Oct-10 Short -45

    Profit/Loss = -43 pips

    With an average stop loss of 45 pips and 3% risk per trade, September P&L = -3%

    Another terrible trading month for London Forex Open to extend the already extended losing streak. It means we are now suffering a draw-down of just over 40% and are easily within striking distance of giving back all of our profit made this year.

    ReviewTeam

    29-Oct-2010

    LFO moves into negative territory on a Year to date basis with the last profitable month being May 2010.

    Below are our trades for the month of October:

    MAIN SYSTEM (We trade the Conservative strategy)

    8-Oct-10 Short -20
    14-Oct-10 Long -120
    18-Oct-10 Short Break-Even
    22-Oct-10 Short -20
    27-Oct-10 Short 60
    29-Oct-10 Short -20

    Profit/Loss = -120 pips

    With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, October P&L = -3%

    “ADVANCED” (FALSE BREAKOUT) SYSTEM

    5-Oct-10 Short -45
    26-Oct-10 Short -45

    Profit/Loss = -90 pips

    With an average stop loss of 45 pips and 3% risk per trade, October P&L = -6%

    As mentioned above we have now given away all profits Year to date in relation to this system – This is after being in profit by over 45% in May this year!

    ReviewTeam

    26-Nov-2010

    With no trading in December for us it means LFO has finished 2010 in negative territory, rather disappointing after being up almost 50% in May.

    Below are our trades for the month of November:

    MAIN SYSTEM (We trade the Conservative strategy)

    3-Nov-10 Long 120
    12-Nov-10 Short -20
    15-Nov-10 Short -20
    19-Nov-10 Long -120
    22-Nov-10 Short -120
    24-Nov-10 Short -20

    Profit/Loss = -180 pips

    With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, November P&L = -4.5%

    “ADVANCED” (FALSE BREAKOUT) SYSTEM

    18-Nov-10 Short -45

    Profit/Loss = -45 pips

    With an average stop loss of 45 pips and 3% risk per trade, October P&L = -3%


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    #1546
    ReviewTeam
    ReviewTeam
    Keymaster

    Systems For Traders had to be rebuilt in 2013

    This is a selection of key posts and comments from the original forum prior to the rebuild – Part 3 of 3

    ReviewTeam

    01-Dec-2010

    After suffering a draw-down of over 50% and giving back all of our profit made this year (and some) we have decided to remove London Forex Open from our Systems We Use list.


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