Simple journal

This is a discussion on Simple journal within the Trading Journals forums, part of the Reception category; Hello, I've been trading a simple approach for 2 or 3 months on demo, with pretty fair results. There's nothing ...

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Old Nov 19, 2015, 1:37pm   #1
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Simple journal

Hello,

I've been trading a simple approach for 2 or 3 months on demo, with pretty fair results.

There's nothing special other than pa with standard bollinger and 20 ema which give me some bias and I usually trade the h4 and daily with it.

I plan to trade this approach for the next couple of months and I'll post ongoing results with a chart here and there, mainly for my benefit more than anything else as a record keeping exercise to further check it's validity before I go live with it.
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Old Nov 19, 2015, 1:54pm   #2
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Andy4444 started this thread Here's a trade on GA I have taken which shows the simple approach

http://www.trade2win.com/boards/atta...1&d=1447937424
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Old Nov 19, 2015, 1:58pm   #3
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Welcome to the forum, Andy - looking forward to seeing your Journal.

(When you say "standard Bollinger", I'm guessing you're referring to "14/2" rather than "20/2", because the midline of "20/2" BB's would be almost the same as the EMA-20? I can't quite see, from your chart).
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Old Nov 19, 2015, 2:04pm   #4
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Welcome to the forum, Andy - looking forward to seeing your Journal.

(When you say "standard Bollinger", I'm guessing you're referring to "14/2" rather than "20/2", because the midline of "20/2" BB's would be almost the same as the EMA-20? I can't quite see, from your chart).
Yeah I'm aware of the similarity, and actually that difference/edge is part of the reason I prefer the ema as opposed to the bollinger c/l
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Old Nov 19, 2015, 2:17pm   #5
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Here's a trade on GA I have taken which shows the simple approach

http://www.trade2win.com/boards/atta...1&d=1447937424
WD Andy - you got a great entry and up over 50+ pips already

I see problems at 1350 to 70 - but wish you all the best and really do hope the simple approach works well for you

GL with the Journal

Regards

F
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Old Nov 19, 2015, 2:28pm   #6
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WD Andy - you got a great entry and up over 50+ pips already

I see problems at 1350 to 70 - but wish you all the best and really do hope the simple approach works well for you

GL with the Journal

Regards

F
Tks, it's one of a number of trades I' currently have on the go at present, here's UCHF using my same approach. I always have 3 orders btw, and that gives more mm flexibility. I have already taken profit from this one on 1 position and have adjusted stops on the remainder to mitigate risk a bit further now.

http://www.trade2win.com/boards/atta...1&d=1447939688
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Old Nov 19, 2015, 2:47pm   #7
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Tks, it's one of a number of trades I' currently have on the go at present, here's UCHF using my same approach. I always have 3 orders btw, and that gives more mm flexibility. I have already taken profit from this one on 1 position and have adjusted stops on the remainder to mitigate risk a bit further now.

http://www.trade2win.com/boards/atta...1&d=1447939688
AU this time, first tp close now

http://www.trade2win.com/boards/atta...1&d=1447940836
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Old Nov 19, 2015, 3:12pm   #8
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. . . with a chart here and there, mainly for my benefit more than anything else as a record keeping exercise to further check it's validity before I go live with it.
Hi Andy,
Well done starting a journal - good luck with it. It's great to see someone using a line chart - that's quite rare these days!
Tim.
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Old Nov 19, 2015, 3:14pm   #9
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Another, this one hasn't flown off the bat, but plenty of time to get it's act together

http://www.trade2win.com/boards/atta...1&d=1447942455
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Old Nov 19, 2015, 3:23pm   #10
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Hi Andy,
Well done starting a journal - good luck with it. It's great to see someone using a line chart - that's quite rare these days!
Tim.
Hi

Yeah...I've used line charts for years now, and imo are superior to candles etc. The charts posted show my basic line chart configuration, but I use lines in other ways also, but this journal is only focussing on this strategy for now which involves only what i have on the chart as seen. I may at some point go further with other strategies I use on my live accounts, but for now this set up is what matters for this particular journal.
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Old Nov 19, 2015, 3:27pm   #11
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Fair play Andy. Any info' you'd care to share about what you're looking for in terms of setup, entry and exit criteria etc. would be very welcome.
Tim.
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Old Nov 19, 2015, 3:39pm   #12
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Fair play Andy. Any info' you'd care to share about what you're looking for in terms of setup, entry and exit criteria etc. would be very welcome.
Tim.
PA is the main thing for me with any strategy I apply. I look for patterns that often enough give me a clue where price will be going. I climb on board and then when the bb and mas further support my decision during the course of the trade, then I consider whether and where I can get a good price to add on further orders.

That's the basic description of my approach for this strategy anyway.
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Old Nov 19, 2015, 4:57pm   #13
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Originally Posted by Andy4444 View Post
Here's a trade on GA I have taken which shows the simple approach

http://www.trade2win.com/boards/atta...1&d=1447937424
Quote:
Originally Posted by Forexmospherian View Post
WD Andy - you got a great entry and up over 50+ pips already

I see problems at 1350 to 70 - but wish you all the best and really do hope the simple approach works well for you

GL with the Journal

Regards

F
Hi Andy

This is always a good test for keeping it KISS

Your target on AU was just over 1360 ( I think )

We made 1350 - stopped and then did a full reversal

Over 135 pip drop in under 2 hrs - a great sell

Please tell me you took profit early and not one of those traders who waits to get taken out either with full target profit - or via their stop ?

Regards

F
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Old Nov 19, 2015, 5:34pm   #14
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Originally Posted by Forexmospherian View Post
Hi Andy

This is always a good test for keeping it KISS

Your target on AU was just over 1360 ( I think )

We made 1350 - stopped and then did a full reversal

Over 135 pip drop in under 2 hrs - a great sell

Please tell me you took profit early and not one of those traders who waits to get taken out either with full target profit - or via their stop ?

Regards

F
Hi, we have a different mindset that's all. I have targets and a stop loss for all positions. I accept you are pleased with your 135 pips, and that's fine. In my case I am trading to net somewhat more, and I only make adjustments to stops and tps once initial target is made. If stopped ok, I'm stopped, but until then I'm still in the trades, and my philosophy keeps any temptation to tinker at bay.

I don't expect to win 100% of the time, but I expect to be consistent with my approach nevertheless, which has proved successful for me, and I have no intention of changing my policy, which is the objective of starting this journal in the first place, to more proactively see just how valid this approach is. Time will tell who ends up most profitable I guess, your way or my way, either way though I expect we will both be satisfied with whatever results are achieved.
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Old Nov 19, 2015, 7:51pm   #15
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Andy4444 started this thread GJ h4 now have long limit orders in place

http://www.trade2win.com/boards/atta...1&d=1447958920
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