Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; My daily indicators are short and 4 hour long Price has printed a daily rejection candle (shooting star) at the ...

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Old Apr 11, 2013, 8:07am   #706
Joined Dec 2009
EUR USD short

Leia started this thread My daily indicators are short and 4 hour long

Price has printed a daily rejection candle (shooting star) at the level of a previous daily high (March 15th) confluent with the 38% fib re-tracement level of the recent daily down swing

I have placed an order to go short part way back into this daily candle @ 1.30 90 with a stop above the high of 1. 31 25 (risk -35 pips)
T1 = R1 @ 1.30 55
T2 = 1.29 90 (R3) and
T3 trail to recent lows @ 1.27 50
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Old Apr 11, 2013, 1:42pm   #707
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Re: EUR USD short

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Quote:
Originally Posted by Leia View Post
I have placed an order to go short part way back into this daily candle @ 1.30 90 with a stop above the high of 1. 31 25 (risk -35 pips)
T1 = R1 @ 1.30 55
T2 = 1.29 90 (R3) and
T3 trail to recent lows @ 1.27 50
Order opened and stop hit for full loss on all three parts
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Old Apr 12, 2013, 8:40am   #708
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Re: EUR USD short (Secondary trigger)

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Originally Posted by Leia View Post
Order opened and stop hit for full loss on all three parts
4 hour trigger printed, order short @ 1.31 00 stop 1.31 40 (risk -40pips)
T1 = R1 = 1.30 60
T2 @ 1.30 00 (+100 R=2.5)
T3 trailing stop to 1.27 50, if seen
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Old Apr 12, 2013, 9:27am   #709
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Re: EUR USD short (Secondary trigger)

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Originally Posted by Leia View Post
T1 = R1 = 1.30 60
T2 @ 1.30 00 (+100 R=2.5)
T3 trailing stop to 1.27 50, if seen
T1 achieved. stops on remaining parts moved to break even @ 1.31 00
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Old Apr 14, 2013, 6:26am   #710
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Re: EUR USD short (Secondary trigger)

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T1 achieved. stops on remaining parts moved to break even @ 1.31 00
Break Even stop hit on retrace, for NIL on remaining two parts
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Old Apr 23, 2013, 6:35am   #711
Joined Dec 2009
GBP NZD short trigger

Leia started this thread My daily trend indicator is short, the 4 hour long

I notice this pair has been consolidating, following a significant down move (on the daily and weekly time-frame)

Price has retraced to the top of the more recent range and a 4 hour rejection candle printed, indicating rejection of higher prices at this time.

This trade set up is an opportunity to trade back to the bottom area of the range (risk reward is almost 3 times, should it come off) with the added unlimited potential of a further break into empty space, as price is making new all time lows

My order to sell is at 1.81 55, with a stop @ 1.82 80 (risk -125pips)
Target 1 is R1 @ 1.80 30 (+125pips), at which point I will move remaining stops to breakeven
Target 2 is at the present daily bottom @ 1.78 00 (+355 pips, R=2.8) and
Target 3 will be a trialing stop, until taken out
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Old Apr 24, 2013, 6:46am   #712
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Re: GBP NZD short trigger

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Quote:
Originally Posted by Leia View Post
My order to sell is at 1.81 55, with a stop @ 1.82 80 (risk -125pips)
Target 1 is R1 @ 1.80 30 (+125pips), at which point I will move remaining stops to breakeven
Target 2 is at the present daily bottom @ 1.78 00 (+355 pips, R=2.8) and
Target 3 will be a trialing stop, until taken out
Order triggered open and price touched T1 (but no profits taken, due to spread), so stops have been moved to breakeven on all three open parts
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Old Apr 24, 2013, 8:40am   #713
Joined Dec 2009
CAD JPY long trigger

Leia started this thread My daily and 4 hour indicators are long
The last weekly and yesterdays daily candle both indicate rejection of lower prices (long tailed 'hammer' type formations)
Price has retraced to 50% of the previous 4 hour up move (end of last week)

I have placed an order long, about half way back into yesterdays daily candle @ 96.50 with a -75pip risk stop at 95.75 (4 hour swing low)
Target 1 = R1 =+75pips @ 97.25
Target 2 = recent daily high @ 98.75 (R3)
Target 3 = trailing stop )essentially looking for a break higher on the daily time-frame
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Old Apr 26, 2013, 8:34am   #714
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Re: GBP NZD short trigger

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Originally Posted by Leia View Post
Order triggered open and price touched T1 (but no profits taken, due to spread), so stops have been moved to breakeven on all three open parts
T1 achieved and profits taken on initial position
Remaining two positions stopped out at break even
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Old Apr 27, 2013, 7:40am   #715
Joined Dec 2009
EUR USD short

Leia started this thread My daily and 4 hour trend indicators are short
Thursdays daily candle was of a shooting star type of formation suggesting rejection of higher prices and this point in time

I have placed a short order @ 1.30 15 with a 40 pip risk stop at the highest point of the retrace into Thursdays bar on Friday morning @ 1.30 55
Initial target is R1 @ 1.29 75 (+40pips)
target 2 the recent lows @ 1.29 15 (+100pips R=2)
target 3 is a trailing stop loss to the years lows @ 1.27 55
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Old Apr 27, 2013, 8:18am   #716
 
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Re: Seeking consistency

Hi
Well you have certainly kept going since you started 2 years ago.
If I was to comment I would say you are putting a lot of emphasis on entries. From a spectators point of view there is not much on how the trade turned out. This might help your game too. Analysis of what went right/wrong and why and what you will do about it in future trades. Running totals on different strategies etc. P&L too

Helpfull criticism hopefully
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Old Apr 29, 2013, 7:47am   #717
Joined Dec 2009
Re: EUR USD short

Leia started this thread
Quote:
Originally Posted by Leia View Post
I have placed a short order @ 1.30 15 with a 40 pip risk stop at the highest point of the retrace into Thursdays bar on Friday morning @ 1.30 55
Initial target is R1 @ 1.29 75 (+40pips)
target 2 the recent lows @ 1.29 15 (+100pips R=2)
target 3 is a trailing stop loss to the years lows @ 1.27 55
Stop hit on the weeks gap up (all three positions taking full loss)
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Old Apr 29, 2013, 7:57am   #718
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Re: Seeking consistency

Leia started this thread
Quote:
Originally Posted by Pat494 View Post
Hi
Well you have certainly kept going since you started 2 years ago.
If I was to comment I would say you are putting a lot of emphasis on entries. From a spectators point of view there is not much on how the trade turned out. This might help your game too. Analysis of what went right/wrong and why and what you will do about it in future trades. Running totals on different strategies etc. P&L too

Helpfull criticism hopefully
Hello Pat494

Thank you very much for posting to my thread

Yes, very constructive criticism, thank you

You are right, my focus is very much set up and entry based, as my trade management is completely passive (I'm a 'set and forget' trader, as I haven't achieved emotional mastery and I am not always able, or indeed necessarily willing, to monitor the markets or my individual trades intra-day, every day)

I try to always post updates to trade set ups that I have posted, but they will be pretty boring (trade open, stops hit: trade removed as initial target level achieved without order being triggered open: order opened, initial target achieved, stops to break even on remaining parts, etc, etc)

What I haven't done is kept a running total of all of my trades performance, by set up type. That I agree would be useful to me as (now you have made me think about it) I don't clearly differentiate between the different set up strategies I regularly use and to do so may provide some useful feedback

I'll see if my records are good enough to pull something together to post for the current year and then aim to maintain it each month
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Old Apr 29, 2013, 8:55am   #719
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Result sumary

Leia started this thread Hi Pat494

If these copy spreadsheets load up OK, here's my results summary
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Old Apr 29, 2013, 9:01am   #720
 
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Re: Seeking consistency

Jan & Feb were good but what happened March & April ?
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