Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; Originally Posted by Leia I have therefore placed an order to enter this pair long @ 83.15 with a stop ...

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Old May 28, 2013, 6:37am   #736
Joined Dec 2009
Re: NZD JPY long trigger

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Originally Posted by Leia View Post
I have therefore placed an order to enter this pair long @ 83.15 with a stop below the 4 hour pin at 82. 45 (risk -70pips)
Target 1 = R1 = +70pips @ 83.85
Target 2 - recent highs @ 84.70 (+155pips, R=2.2)
Stops hit for full loss -70pips
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Old May 30, 2013, 7:46am   #737
Joined May 2013
Re: Seeking consistency

Good that now you are trying to refine your trading terms which is for your benefit. Having stops at the strong level is more important sometimes than the usual money management to realize the profits.
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Old May 30, 2013, 7:49am   #738
Joined Dec 2009
AUD USD long trigger (counter trend)

Leia started this thread Both the daily and 4 hour time-frame indicators are short

However, price has reached a significant support level on the weekly chart (0.95 70) and printed a daily candle that indicates rejection of lower prices at this time, due to its long tail / wick

I have placed an order to enter this market long @ 0.96 70 with a stop at 0.95 25 (-150 pips risk) and target at R1 0.98 20 and T2 at parity (being between the 50% and 61.8% re-tracement of the recent daily down swing) (R=2 if achieved)

I would usually place my order about 50% back into the daily candle, to reduce the stop size and increase the potential R (risk / reward ratio). However price has already re-tested the 50% area overnight / during the Asian session and I missed the last excellent long trigger on this pair (March 4th) because I had placed my order at the 50% re-tracement into the daily trigger candle and price did not pull back to open my order
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Old Jun 2, 2013, 6:34am   #739
Joined Dec 2009
Results Summary

Leia started this thread The outstanding Aprils positions (post #713 CAD JPY) have now all closed

May has an outstanding position. Of the two trades made, one achieved R1 on the first half and the other was a loser, thus a net loss at present of 0.5R (roughly £100, as my standard risk is £200)

2013 to May +16%:
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Old Jun 2, 2013, 5:52pm   #740
Joined Apr 2013
Re: Seeking consistency

Quote:
Originally Posted by Babyblush View Post
Good that now you are trying to refine your trading terms which is for your benefit. Having stops at the strong level is more important sometimes than the usual money management to realize the profits.
I think the stops should be beyond those strong levels because there are more chances that market will reverse from those level and it will hurt if it reverses after touching your stops.
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Old Jun 4, 2013, 8:39am   #741
Joined Dec 2009
CAD JPY daily long trigger

Leia started this thread My daily trend indicator is long, but 4 hour is short
Price has retraced over 61.8% of the previous daily up swing and printed a candle / bar of a 'hammer' type formation at previous daily Support / Resistance which has confluence with the support provided on the weekly time-frame ascending channel, indicating rejection of lower prices at this point in time

I have placed an order to enter the market long approximately 50% back into the daily candle @ 96.55 with a -60pip risk, stop @ 95.95
T1 = R1 = 97.15
T2 = just below most recent daily highs and the big 'psychological level' @ 99.95 (+340pips, R5)
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Old Jun 5, 2013, 1:31pm   #742
Joined Dec 2009
Re: CAD JPY daily long trigger

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Quote:
Originally Posted by Leia View Post
I have placed an order to enter the market long approximately 50% back into the daily candle @ 96.55 with a -60pip risk, stop @ 95.95
T1 = R1 = 97.15
T2 = just below most recent daily highs and the big 'psychological level' @ 99.95 (+340pips, R5)
Unlike 24 Apr (post #713) price failed to move higher this time
My stop has been hit for a full loss (-60pips)
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Old Jun 5, 2013, 3:39pm   #743
Joined Dec 2009
Re: AUD USD long trigger (counter trend)

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Quote:
Originally Posted by Leia View Post
I have placed an order to enter this market long @ 0.96 70 with a stop at 0.95 25 (-150 pips risk) and target at R1 0.98 20 and T2 at parity (being between the 50% and 61.8% re-tracement of the recent daily down swing) (R=2 if achieved)
Stop hit for full loss on both parts
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Old Jun 7, 2013, 2:33pm   #744
Joined Dec 2009
Re: CAD JPY daily long trigger

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Quote:
Originally Posted by Leia View Post
Unlike 24 Apr (post #713) price failed to move higher this time
My stop has been hit for a full loss (-60pips)
So about 200pips lower and price has just hit a significant level on the weekly chart (previous resistance, between 50 & 61.8% re-tracement of the weekly up swing and printed a 4hour candle indicating rejection of lower prices at this time

The candle requires a massive stop of 170pips, so I have reduced the £/pip accordingly to reduce risk

I have placed an order (possibly too late already) to enter this pair long at 94.60, stop 92.90
My targets are R1 @ 96.30
T2 @ highs of 101.00 (640 pips R 3.7)
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Old Jun 10, 2013, 6:17am   #745
Joined Dec 2009
Re: CAD JPY daily long trigger

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Quote:
Originally Posted by Leia View Post
]
I have placed an order (possibly too late already) to enter this pair long at 94.60, stop 92.90
My targets are R1 @ 96.30
T2 @ highs of 101.00 (640 pips R 3.7)
I have removed this order, as price has already moved to Target 1 @ 96.30 without retracing to my entry level (I was indeed, too late!)
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Old Jun 10, 2013, 10:31pm   #746
Joined Dec 2009
Gbp Cad long trigger

Leia started this thread Mondays candle indicates bullish strength

I've placed an order in anticipation of a retrace into this candle @ 1.58 40, with a 60pip risk, stop just below the candle low @ 1.57 80

Target 1 being 1xR @ 1.59 00 anT2 is the recent high @ 1.60 40 (R=3.3)
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Old Jun 12, 2013, 7:00am   #747
Joined Dec 2009
Re: Gbp Cad long trigger

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Quote:
Originally Posted by Leia View Post
Mondays candle indicates bullish strength

I've placed an order in anticipation of a retrace into this candle @ 1.58 40, with a 60pip risk, stop just below the candle low @ 1.57 80

Target 1 being 1xR @ 1.59 00 anT2 is the recent high @ 1.60 40 (R=3.3)
Order removed as price has passed T1 without retracement to my entry level
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Old Jun 12, 2013, 10:12pm   #748
Joined Dec 2009
AUD USD short

Leia started this thread I have placed an order to join the dominant aud downtrend at approximately 50% back into yesterday's daily candle @ 0.9520 with 60pips of risk @ 0.9580
T1= R1 +60pips @ 0.9460 and T2@ 3R @ 0.9340
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Old Jun 13, 2013, 10:24am   #749
Joined Dec 2009
Re: AUD USD short

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Quote:
Originally Posted by Leia View Post
I have placed an order to join the dominant aud downtrend at approximately 50% back into yesterday's daily candle @ 0.9520 with 60pips of risk @ 0.9580
T1= R1 +60pips @ 0.9460 and T2@ 3R @ 0.9340
Order opened
T1 achieved
Stop on remaining part to breakeven
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Old Jun 13, 2013, 10:11pm   #750
Joined Dec 2009
Re: AUD USD short

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Originally Posted by Leia View Post
Order opened
T1 achieved
Stop on remaining part to breakeven
Stop hit on part 2 for NIL
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