EJ Daytraders v The Rest of The World

Well I guess that didn't work out.

I am trying a "short" at 134.705, 20SL & 40 Pt this time following the decent retrace
 
I have been out and have now returned. My trade went down 12 pips and retraced again. I have exited at +1 pips, hence a loss of 19 pips on the day.

The paper trade lost 45 pips which is a pity
 
Good morning pip pickers. A 40 pips range on the EJ today.

The EP on the high would be 131.71 45SL & 35 PT; But it is more likely to go short at 134.25 with a 45SL & 35 PT quite soon

I will once again wait for a retrace trade and use my 20SL
 
Killed it off for a £1 profit. Shame as it was going down nicely

The paper trade still quite not triggered at 134.25 short
 
Good morning all.

The short didn't materialise yesterday, just, lucky enough. The long did qualify at 134.71 and made 35 pips at 134.06

The market has been quiet over night. The EP is 135.11 long with an SL of 45 and target at 35 pips

The EP short is 134.75 45SL & 35 pips PT

As usual, I will probably wait for qualification and then a retrace
 
The paper trade ended up with +26 pips at 8.45pm which was just as well as price reversed down completely overnight

Today's bandwidth is 67 pips whilst the 3 day average is only 65 pips. I'll leave paper trading for today, though I may go for short with a 20SL if I can get a decent retrace
 
Hi Guys,

Sorry I haven't been in touch today so far. The overnight range on the EJ was 104 pips so this is a non-qualifying day for me.

I missed yesterday's lovely short with a paper trade because of my low 3 day average. What a pity
 
Good morning pip pickers,

I am up very, very late this am but may be lucky enough to strike and win a trade. The 11pm - 6am range is 47.8 and I am going to do things a bit different for November.

I will be setting an order "long" 3 pips above the top of the range using a 20SL and an initial 40 profit take. Should this trigger and I am around to monitor the trade I will watch it and try to go for the 40 but if the trade goes so far and looks to be turning back on itself I will use a 30 as the lower target and then 20 if that misses. I will be reluctant to take less than 20 but it really depends on the price action as to whether I bail out of a trade. If I am away from my PC I will use a 30 pips profit target.

A 20 SL will quite often prove to inadequate for a successful trade. If, as in my first "long" example my trade fails and then turns around before hitting the "lower" 11pm - 6am limit and goes on to make at least 20pips (without me of course) I will take another course of action.

Initially I will be setting orders for two trades. In the above example, the first trade would be "long" and the second trade would be "short" two pips below the 11pm - 6am bandwidth.

Going back to the first trade example of going "long" (or vice versa), if that trade triggers, loses and
then goes on to make at least 20 pips profit, if I am around I will cancel the second trade as I will conclude I have missed a winning trade for that day.

However, should the first trade not turn around and take out the "low" bandwidth price of the second order, I will leave the second order in place and try to reach the profit takes as previously described.

Bandwidth limits for a qualifying trade is 100 pips (At that level and above it this is a non-qualifying trade day)

I don't mind if it is a JPY holiday on its own, however, if it is a GB Or US holiday as well then it is a NQ day.

The expiry time of the trade(s) is 8.45pm UK Time.

News items are not normally an issue with the JPY so can be ignored.

I hope that I have explained all this properly.

I freely admit that I should really back test all my results for the past year before embarking on this strategy but I can't make the time to do so with so much going on in my life at the moment.

Almost forgot, silly me. This am my "long" is set at 133.35 20SL & 133.75. My short is at 132.82 20SL & PT at 132.42
 
Well, I was a bit unlucky for the trade to trigger in the first place (my EP was 133.35 and I got taken in at 133.326 chart figure). Trading has been very slow today because of the bank holiday, though within my new rules). I adjusted my PT for 30 pips before I went out but it hit the stop at 1.50pm for a loss of 20 pips. I have left my second trade (short) in place until 20.45 but I guess this will time out before 8.45 or I will cancel it if it gets to +20 pips without me.

Pity to start with a loss but at least I now have clearly defined rules for on-going trading that I can measure against my official EM EJ trades and, these are live trades not paper trades.

Have a good evening
 
Good morning all,

There is a 62.7 bandwidth today.
Orders in to buy at 133.35 with a 20SL & 40 PT
and to sell 132.67 with a 20 SL & 40 PT
Back to bed for a while
 
Hi guys,

I entered my trade "short". It went down nicely and I was hoping it would hit at least 30 pips initially but it had a problem and started to retrace. I took 20 pips to be on the safe side. It then went through a few ups and downs and did spike to make 30 pips before going all the way back up to B/E.

Hence, +20 today cancels out -20 yesterday so at least we are back No Gain/No Loss

Back tomorrow
 
Good morning pip pickers,

A large movement overnight giving a bandwidth of 90.4 pips. I don't know if there is anything left in the tank but I have set my EP Long at 133.47 with a 20SL & initial 40 pips limit. The short is set at 132.52 with a 20 SL & 40 limit.

Obviously if either trade qualifies this am very close monitoring will be required with such a large bandwidth.

I am also amending the rules a little with regard to trades that have to cross the BRN close to trade entry or have to straddle it to reach a profit target. I will make sure that I have a 20 pips actual clearance of the BRN from entry. For example if my system suggest a long entry at say 133.97 I will adjust my order to go long at 134.21. Similarly, if the short entry is at 133.97 I will set the short at 133.79. Should the limit have to cross through the BRN I will ensure that I stop short by 10 pips minimum. Should that requirement mean less than a 20 pips profit target then I will treat the trade as a Non-Qualifying (NQ) trade for that day.
 
I have taken 20 pips profit just in case price retraces. A bit of a chicken not to go for 30/40 pips but we'll see
 
Very low range today so far 22 pips bandwidth. Will have to wait until there is some movement above 30 pips at the very least
 
Range has gone past 30 pips. I have set an order "long" at 133.55 with a 20SL & 30 PT to 133.85.

I have also set a "short at 132.79 as I don't like 133.19 and want to below the BRN with a 20SL & an initial 40PT at 132.39
 
Good morning pip pickers,

My bandwidths show an EP at 131.81 "long" and 131.27 "short"

Both ends could have problems with the BRN and to take either trade I would rather wait for 132.21 "long" and 130.79 short.

Bearing that in mind and that it is NFP day today I'll give it a miss and keep my net 68 pips for the week in my coffers.

I will keep an eye on what would have happened but no record will be kept for it.

Good luck to all who are trading today.
 
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