Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; Originally Posted by Leia Order has opened and is moving strongly up (with the trend, against my position) expect to ...

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Old Aug 11, 2012, 8:47am   #463
Joined Dec 2009
Re: AUD USD short (counter trend)

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Originally Posted by Leia View Post
Order has opened and is moving strongly up (with the trend, against my position) expect to be closed out for -60 pips imminently
Stop reached. Trade closed for -60
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Old Aug 11, 2012, 8:53am   #464
Joined Dec 2009
Re: AUD NZD & EUR CHF and GBPJPY

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Originally Posted by Leia View Post
Orders placed at 50% re-tracement of the 4H 'trigger' candles
Long AUD CHF 1.02 28 stop 1.02 00 (risk 28) target 1.05 00 (reward 272) R=10
Long NZD CHF 79.22, stop 79.00 (risk 22) target 81.00 (reward 177) R= 8
Short EUR AUD 1.17 43, stop 1.17 75 (risk 33), target 1.16 00 (reward 142) R=4
Short EUR NZD 1.51 63, stop 1.52 05 (risk 43), target 1.49 75 (reward 187) R=4
Short GBP JPY 122 .93, stop 123.20 (risk 23), target 120.00 (reward 292) R=11
NZD CHF trade opened and stop hit for -22 pips (50% position)
EUR NZD trade opened and stop hit for -43 pips (50% position)
GBP JPY trade opened and stop hit for -23 pips (50% position)
total loss -88 pips @ 50% position = -44pips
AUD CHF trade opened and stop moved to break even
(price has seen 1.04 60 = +230pips, just 40pips from an R10 target)
EUR AUD trade opened and stop moved to break even
(price has seen 1.16 10 = +130pips, just 10pips from an R4 target)
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Old Aug 13, 2012, 8:14am   #465
Joined Dec 2009
AUD CAD long

Leia started this thread The daily time frame trend is long, Fridays candle indicated rejection of lower prices at this time, coinciding with the 50 - 61.8% re-tracement zone of the previous daily up move and daily resistance for the start of July (potential resistance becomes support)

However the 4H chart is trending lower, so I am watching for a blatant rejection of lower prices to act as a trigger for me to enter contrary to the shorter term trend (so it may not happen for a few days), unless Fridays low is breached, in which case the daily candle trigger is invalidated
Attached Thumbnails
aud-cad-daily.gif   aud-cad-4h.gif  
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Old Aug 14, 2012, 8:32am   #466
Joined Dec 2009
Gbp (cad & chf)

Leia started this thread Both charts have the same direction on the daily and 4H indicators and have retraced into 50 / 61.8% of their last 4 hourly 'with the trend' swing and printed reasonable 4hourly trigger candle formations

I am aware of GBP news in the next hour, which may stop my trades out, but that is accepted in my risk

I have placed orders
sell GBP CHF at 1.55 75, with a stop at 1.56 05 (-30pips risk) and initial profit target at 1.54 60 ( reward +115pips) R just short of 4
buy GBP CAD at 1.52 75, stop 1.52 15 (-70 pips risk) initial target at 1.54 75 (reward +200 pips) R just short of 3
Attached Thumbnails
gbp-cad-daily.gif   gbp-cad-4h-trigger.gif   gbp-chf-daily.gif  

gbp-chf-4h-trigger.gif  
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Old Aug 14, 2012, 8:40am   #467
Joined Dec 2009
Re: AUD NZD & EUR CHF and GBPJPY

Leia started this thread
Quote:
Originally Posted by Leia View Post
NZD CHF trade opened and stop hit for -22 pips (50% position)
EUR NZD trade opened and stop hit for -43 pips (50% position)
GBP JPY trade opened and stop hit for -23 pips (50% position)
total loss -88 pips @ 50% position = -44pips
AUD CHF trade opened and stop moved to break even
(price has seen 1.04 60 = +230pips, just 40pips from an R10 target)
EUR AUD trade opened and stop moved to break even
(price has seen 1.16 10 = +130pips, just 10pips from an R4 target)
AUD CHF trade opened and stop moved to break even
(price has seen 1.04 60 = +230pips, just 40pips from an R10 target)
trade stopped out for NIL
EUR AUD trade opened and stop moved to break even
(price has seen 1.16 10 = +130pips, just 10pips from an R4 target)
trade stopped out for NIL

Very annoying (that's trading) both of these trades have been taken out for NIL, having narrowly failed to make their profit targets

I don't believe (apart from with the benefit of hindsight, with a tighter trailing stop) that I could have traded these two any better and so will not be making any change to my trading plan
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Old Aug 14, 2012, 2:00pm   #468
Joined Dec 2009
Re: Gbp (cad & chf)

Leia started this thread
Quote:
Originally Posted by Leia View Post
orders
sell GBP CHF at 1.55 75, with a stop at 1.56 05 (-30pips risk) and initial profit target at 1.54 60 ( reward +115pips) R just short of 4
buy GBP CAD at 1.52 75, stop 1.52 15 (-70 pips risk) initial target at 1.54 75 (reward +200 pips) R just short of 3
My 'sell' and 'buy' statements are obviously incorrect in this original post put the levels are all correct :-
GBP CHF trade opened
GBP CAD trade opened, price has since touched 1.52 45 (+30pips) which being the equivalent of my original risk, so I have moved my stop to breakeven
Attached Thumbnails
gbp-cad-open-free-trade.gif  
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Old Aug 14, 2012, 3:14pm   #469
Joined Dec 2009
Re: Gbp (cad & chf)

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GBP CAD trade opened, price has since touched 1.52 45 (+30pips) which being the equivalent of my original risk, so I have moved my stop to breakeven
GBPCAD stop hit for NIL
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